New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-04
THE WHOLESALE DRY GOODS TRADE.
ENCOURAGING vIEwS-IHE COUNTRY NEVER IN A
BETTER CONDITION.


BETTER CONDITION.
The business manager of q leading job
bling house in the dry goods trade, in answer to an
inquiry Saturday TO whether there was any ys
bic Improvement in the condition Of things, promptly
answered "NO but" no continued eff you were 10
ask If believed there would be moro general dis
turbance OF tho public confidence and il commercial
values would be likely to drop to lower level, should
also True, few houses that have been
doing business upon unsound basis-tbat have long
been totterinS-may tumble at last; but the country
was never rich, never IN healthy condition
for prosperous trade now. / would to-
day be willing TO sell $JO0lO0O worth or
goods TO the very merchants who are owing us now'
The whole OF this trouble has arisen from the false ys
tenn upon which our banks arc conducted; merchants,
doing legitimate trade, applying to them for accomo-
daton told that the banks have no funds at com
mand; but Just the merchants backs are
turned they cOseted with dealers in fancy railroad
securities who offering large and Illegal percentages
for loans and who give checks for the premium agreed
upon to eyade the usury law. merchant came into
our store the other day and asked me for loan
OF $4,000. at the Same time LAYING down
before me securities which were perfectly good
for ten times the asked him why he was COM
Deed 20 outside the banks for accommodation. and
mis- answer was that it was Impossible obtain
rency that just there was hurry or excite
in financial circles, the banks mt once shut down
upon the very ones whom their duty to assist
would cheerfully have taken that man through our
store and sold him goods TO the amount OF
$4,000 on his notes. The whole nnau
cial system OF the country is rotten 10 The core
Clerks, VINO scarcely know enough to come IN when
rains drive fast horses and otherwise lead fast lives
Even the fountain head OF our financial system at
Washington - corrupt, and the Infection Families
through every artery OF commerce. As stated in
| THE TRIBUNE last Monday, there IA more iegtimate
business in the OF smuggling than IN the rCg
lar channels or trade. Our banking system
hauling aud purifying. and corrupt officials must be de-
posed from power before our commerce and the indus
tries OF the country can be brought back to their normal
| condition."
Another largo jobber confirmed this statement, and
served that every financial crisis brought prominently
10 the surface classes or merchants those VINO
TOO yeuturesOme in their operations and are likely TO
fail when "A pinch comes, and those who struggling
10 do an honest legitimate business with tine intention
of paving one hundred cents the dollar rms latter
class che jobbers felt In duty bound 10 hcp through In
Zines like the present. 10 his opinion. and he Knew
10 to the opinion Of other leading houses that goods
! of n desirable qualify have already touched
bottom aad that prices materially broken only IN
goods not especially desirable. lie said that at auction
sale OF domestic dress goods held Wednesday, coo
cases. % pieces each brought within Is 70
20 per the prices ruling at tie opening Of 5 sea
son on Aug. 1. Under all the circumstances the sale
was considered successful aud strong indication
| OF a general improvement the market. French
mernoes and cashneres and Atwood navy blues for
| and a trifs higher than the week before. Choice
shades of cloth browns scarce. bringing full
prices better demand, and aro bringing fair
profit upon the Of Importation He reports that
there are more cash BUYERS in the market, and shat
trade the whole Is better than 1t was week ago.