The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-04-18

Views fNew York Merchants on the
Spring Trade and BuOiReB Pros
poets Generally. *
From the 0raph,o)
New York merchants are RAPIDLY real
king the lamentable state Of the market,
and complain bitterly Of the dulles OF
trade and the high rates dem anded for
monY, The writer, this morning, had In.
tervieWs with members Of several leading
dry goods houses, including A. T. Stew
arts, A. B. ClRhin's, and others. The
substance Of the conversations is as fol-
lows:
1.-THE hopes that the financial embArass.
ments would terminate before the COM
mencement Of spring trade, and the re.
sumption Of navigation, have not been re.
allied. Even taking into consideration
the advance In foreign goods, the quantity
Of the seasons imports are below the RV-
ersge Of former year,, and from theknown
scarcity Of stock throughout tho country
there wac reasonable expectation OF u
very prosperous spring trade" @tT
tWhy have these prospects, not been
realized Z" .r1g - v...5-g.r.Ir
"Because the unlocked for advance In
gold, and the stringency in money, chang.
I'd the situation entirely. Goods contraC.
ted for when gold was ITO, with Q prOba-
bility Of decline instead Of an advance
In the premium, have to be paid for at 11s
to 119, . clear loss Of 8 per cent on the
original invoices" .r or 100.
lis there any remedy :" 4 Fig
"YeS; If the importers could cover the
advance by Q corresponding increase In
prices, all would DO well. But nothing 10
more difficult to establish than an advance
al the commencement Of the season, as
country buyers come prepared to pur-
chase at certain rates, and are generally
both unable and unwilling TO make an Rd-
vance. This year neither buyers nor sell
lerS could make any concession" III
"Why could not the country merchants
afford an advance" ia I'd b5.u Eun 4
because the monetary Btripgency has
extended all over the interior, and they
are forced TO buy more closely than they
anticipated" -a1t. f5 Hs.V /
"Are collections In the interior diff.
cult lg g.. t-.rg b
ayes; moro difficult than for several
years. And as country merchants are
unable to make their collections, they are
compelled to ask for extensions, which
add materially 10 the embarraSsments Of
our merchants" a..s .--yGasi.,
"Uau an immediate improvement be
expected :" a .n%, -.7
Eyes, when the immense volume OF
commodities, now locked up In the West
blythe winter severe weather, and valued
al not less than $5O0, 900 900, begin to move
forward to the market. But in the mean
time, the business interest OF the whole
community must suffer severely, and no
recovery Is possible that wilkmake up for
the losses alreody sustained" r
could the Secretary Of the Treasury
improve matters 7"
mot very we'll, he cannot avoid pro.
noting the interest Of one or the other Of
the rival cliques. II he does nothing, he
leaves clear field for the parties who
are specializing Tor dear money and high
gold. II he expands the currency, he
plays into the hands OF parties who are
for q rise 10 stocks and all kinds Of COM
modides." 4
"What Is the reason OF this condition
Of affairsT"
"All these complications are the result
OF the present irredeemsble currency, and
the fuctuatiDg, bond buying, gold.selling
policy Of the Administration. The Gov
eminent had better leave the finances of
the country TO regulate themselves. It is
a pity Senator Sherman's bill for the res
toration Of specie payments had not been
adopted. Now we seem committed for
an indefinite period to the uncertainties
arising from tho continuance Of tho pres
ent system"
"Are the railroad monopolles to blame
for the present depressionp 10
Every materially. There should be no
discriminating charge. The railroads are
virtually public highways, the property
Of the nation, and Congress ought to re.
move the heavy protective duties on rail-
road iron and other material used In the
construction Of rolling stock; then we
should have cheap railroads, cheap freight
and no embargo on business"
"WhRt aboutthe trade at presentW
"Wcll, the best part OF the season has
gone, and jobbers find that the consumers
are not taking goods in such quantities as
10 warrant recorders from their customers,
and, as u consequence, the April trade
shows marked decrease. ManuIactur-
ere should recognize the fact that the
want Of trade tends TO accumulate goods,
and they should shape their production
accordingly. High cost OF material, over
production, tight money market, the
gold premium very high, excessive freight
rates, low prices for produce, and.small
profits and large expenses In in carrying
on business, should make them very eau
tious"
"What means would you suggest to
promote more healthy tOneE
1.-THE mastErminds should array them
selves against the money gamblers Of this
community, and by an exercise OF the
public authority make an example in the
punishment inflicted 90 as to deter any
others from engaging in transactions so
disturbing TO the welfare Of the masses
and detrimental TO the commercial inter.
Gsts Of the country. Merchants are too
much engrossed in business TO give atten.
ton 10 legislation until crisis arrives
and the evil Is impossible Of speedy pre-
Vention." esI ,5sg 3. ..