Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1871-02-01
From Hen-y CIeWs & Co.'S. Cirenlar,


From Hen-y CleWs & Cos. Cireular.
From the Monthly Circular Of Henry
CleWs & Co., New York, bearing date Of
January 9Th, we extract the following:
Although the failutes at the close Of
the past year indicate that We have not
vet cleared ourselves Of all the bad ef-
fects OF the expansion and speculation
growing out Of our war finances, vet
during no year since the close OF the war
have we made so much substantial pro
gress as in 1870. We have had more in-
dustry and commerce and less specula-
ton than any time since 1850. As a rule,
our crops have shown a highly satisfac-
tory progress. Although our stock Of
grain at the sea board are not large, vet
in the hands Of producers there is per-
h2ps a larger supply than at this season
for the last seven or eight years. The
cotton crop is large one; and nOtwith7
standing the large reduction in the price
of this staple, the South has shown its
ability to buy from the North a large
amount Of goods and 10 pay for them
promptly. It is true that the general
decline In prices has been unfsvOrRble
TO holders OF produce and merchandise,
and the failures OF last month are no
doubt in part due TO that cause but, at
the same time, this process. of eheapen-
ing laws the basis for an enlarged con-
sumption and an increased trade in 1871.
It Is one very satisfactory feature OF the
year that several thousand miles Of rail-
way. in our newly settled fertile agricul-
tural sections, have been built and
equipped for the transportation OF large
quantities Of products which hitherto
have lacked facilities for reaching q re-
munerativs market. This investment
OF capital in the means OF transportation
must hereafter contribute largely to the
expansion Of Ou commerce and to the
general prosperity Of the country. It
may be that, for brief period, the earn
ings Of some Of these roads, in the more
sparssly populated regions, will appear
Inadequate to the outlay on the works I;
but the past history Of our railroads
shows that 10 investment OF capital has,
in the long run, proved more remunera-
tive.
Our foreign commerce has suffered
much less from the war in Europe than
was at one time feared. Although, for
the first four or five months Of the strug-
gle, our exports fell of materially, yet
during the past month there has been an
increase which more than cOmpensates
for the previous decrease, and the year Q
exports of produce and merchandise
from this port exceed, in gold value,
those Of 1869 by about SIS, ,0OO, 900. We
have also sent ont SIS, 400, 900 Of specie,
or S26, 400, ,OOO more than in 1859; which,
as the precious metals are one OF our
products, and the supply exceeds our
present wants, is a favorable feature OF
the years business. During the latter
half Of the year, our imports have in
creased largely from the throwing OF
goods upon our markets by European
Manufacturers and shippers, their home
markets have been closed or impaired
by the war. From this cause, the m
Z ports at New York show an increase OF
Sl4, 400, 900; which, however, Is S3O,5OO'-
900 less than the increase IN our COM
bined shipments Of produce and specie.
/ It is, moreover, to be remembered that
I a large proportion OF the imports OF the
last half year were consigned mere on
foreign account, and that, the goods
having made heavy losses, our rsmittan-
css against them will not equat theiI
invoiced value.