Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1873-12-05
COMMERCIAL EPTTONE-The

COMMERCIAL EPITOME-The
volume of trade during the past
week was larger than usual and business
! shows some signs of renewed activity
Money is rapidly getting back into the
. channels OF trade, and many of the
manufacturers in different sections of
the country have already resumed ope-
rations At the North the compiled
tions with Spain continueto be regard
with some anxiety in business circles,
bnt confidence i'll their ultimate adjust
ment, and the maintenance of peace,
prevents them having any serious effect
upon business. The general demand
at present is for financial reform and
better system of banking. The un-
certainty, however, respecting the ac-
ton of Congress, says the Financial
Chronicle, upon currency questions
and the tariff, begins to exert unfavor-
able influence upon trade. Thus it
becomes apparent that for some time
the possibility of many important con-
tingencics, IT'S well as present embar-
easements, will have the effect To keep
trade within comparatively narrow linn
its. The Stamping ni,I ConancicioI
List speaking of financial reform and it's
effect upon the business industry Of the
country ut large, delivers itself thus
''The commercial outlook is, on the
whole, more cheering. The banks are
constantly gaining in resources, and
discounting with more freedom the
d;stributive trade with the interior is,
perhaps, equal to the average at this
port trade proceeds without Interrupt
Ior %ho,,
ponding period last year, while the
imports continue judicously moderate:
the reports from the manufacturing
districts are of more favorable char
acter, many of the mills that suspend
ed operations during the panic having
resumed work, thus mitigating the
hardships: in some degree, of the arti-
san and laboring classes. The finan-
cltl storm having been weathered, it
remains now for Congress- to act with
great prudence and cilcumspcction in
regard to the multiplicity of financial
measures that will be brought to its
notice Numerous schemes looking to
currency expansion are pending, and
various notifications and changes in
the national banking system are sug-
gested, so that we mly certainly
look forward to a period of financial
perturbation and Unsettled values Any
laundering in financial matters at this
iuncture would be verv apt to be
franght with serious con fences. If
our national law max, will content
Themselves with making legal provis-
ion Tor perfectlng the work OF resump-
ton which has been SO materially adj
vanced by recent events, there is no
apparent reason why the business and
the productive industry OF the country
shollld not make steady and visible
gains from this time forward, and
sound and healthy condition Of affairs
be reached. on the basis of reduced
prices, IL c.,,\ ertible currency, and
steady employment for labor. But ii,
on the other hand, they consent to
another era Of Imitation, then chaos
will have come again, since an increase
of currency means higher prices, and
higher prices means renewed specula-
ton, uncertainty, smaller returns for
our products and larger for .oreign,
and ultimately another and far more
serious panic. Whatever changes
should be made in orr present system,
and some would certainly be desirable,
it should be kept steadily in mind that 10
financial genius can convert irredeen-
able paper into money, and we cann0 t
escape the disadvantages of using a
circulating medium different from that
of the rest of the commercial world.
Neither can We expect to resume spe-
Gle payments without contraction OF
values, and no number of postpone
ments will evade that contingency
Therefore, whatever Congress may do,
let lis hope it will set its face sternly
against imitation. The country never
had a greater wealth of resources, aud
it's international trade was never in
better condition fer placing our cur
rercy system upon 4 sound and cniu-
ring basis.
Since our review of tao naval store
market of October. many imp"rta,.t
revolution ard changes have been
made. The most important: aud per-
haps the largest has been the heavy
increase "f the foreign <,hir,nt nts.
The r"asi"jsc shipping trade, - re
CARDS the quantity OF exports. has
Comparatively died ntt. The foreign
shipments "f the past month WAS
sis casks spirits tn,rcnt ne, 30
bhls crude turrcntinc, tn,Si1 hhls
, az; bales cotton, while the e1rnr'a
amounts to GO casks spirit, tnrpen-
tine, co. .,bls crude turpenti1'-, 3.;i6l
Ibis ros;n, I,4nl bhIs tar, :;'H ibis
pitch and 2,o7S bales cotton.
The effects Of the panic have per
haps been felt with stronger force
upon .lis than any other branch ri
trade. There was general and de
precision of the market III the
earlierl part of the r,n-h. but TIL
Improvement in tie completing of
affairs, gradually restoring confidence,
has been attended with some advances,
and at present the outlook is lccid-
edly more encouraging than when we
last wrote.
The naval store business of the
week as compared with last week show
an increase. The foreign expectations
of the week were II ,094 bbls. rosin,
1,675 casks spirits turpentine, against
1926 bbls rosin and ,12O casks spir
its turpentine last week, showing an in
crease in valuation Of $50, $50. RosIN.
There has been a good export de-
mand fer rosin all the week, and the
market under this influence has been
comparatively strong and bouyaHt,
closing steady to-day. SPIRITS T'a-
PENTINE has shown n sharp reaction,
and to-day quotations are l. cents
higher than last week. CRUDE TUR-
PENTINE has ruled very steady. The
receipts being light there has been
some scarcity of crude material among
manufacturers. TAR opened dnll but
afterwards reacted and advanced,
closing firm to-day. Ccrfoy.-The
gradual advance of last week has been
preceded this week with dull market
and an almost daily decline. At the
close there is very little revival of feel
ing. Dry Gooos. There has been a
! liberal distribution of goods in tins
! line, and MS the policy Of jobbers is to
/ work off stocks, prices are somewhat
irregular and unsettled. Ia staple,
articles, however, the only essential
change is the reduction made in Ne"
York on nil standard prints to cents,
and this will doubtless become the
ruling figure here. Prints can be
made now much less than the stock on