The democrat. [volume] (Weston, W. Va.) 1868-1874, 1874-08-31
BUSINESS PROSPECTS.
What is to bo Expected, and What is
Hoped For.

What is to be Expected, and What Is
Hoped For.
In an editorial on "Business Pros.
poets, +" the New York Tribune says:
The condition OF England, France
and Germany is far from that state Of
robust health which is necessary TO
make them good customers and easy
creditors Of the United States. In
England readjustment Of wages and
prices has been in progress for nearly
year, and is yet far from being COM
pleted. The exports OF British manu-.
features for che hrst six months OF this
year are not only less than for the same
months in 1873, but less than for the
same months in 1872. A trade whose
growth has been for half q century the
wonder Of the world has been for two
years either stationary or declining.
This is q sign Of bad times which can.
not be questioned. The same condition
Of affairs, though perhaps in o less do.
gree, exists in France and Germany.
1t exists also in the United States, but
we fail to see here the energetic strug.
gle which is making in England 70
adopt wages 10 her changed situation.
We are to have a great crop and lower
prices OF food all over the world in con.
sequence OF the abundant haryests now
being gathered. This will unquestion.
ably be Of great benefit TO Europe, and
particularly 10 Great Britain, and the
ball will in the end rebound back 10 us.
But probably two or three years will
pass by before the full effect is pro.
duced. Perhaps two or three good
haryests will he required to produce
such state Of prosperity as existed
throughout the civilized world in 1872.
Meanwhile the immediate consequences
OF good harvest in both Europe aud
America may be productive OF incon.
veniences to our Western farmers, and,
conformity with other circumstances, TO
the general trade Of the country.
The United States are great sellers
OF grain and provisions in ordinary
years. A fall OF 25 per cent. in bread
stufIs, Operates injuriously upon the
producers and carriers. II makes them
less able 10 pay their debts, and com.
pels them to restrict their purchases OF
manufactured goods, and other articles
Of commerce. The ordinary mortal
spends all, or very nearly all, he gets.
Only the few save. Whatever, there.
fore, curtails the money, which has
been enormously said 10 Hfructify" in
the pockets OF the people, checks the
consumption OF merchandise, and tends
To produce dull times. And IL Is not
only the consumption OF merchandise
by farmers, and those dependent upon
the custom Of farmers, which is likely
TO fall below high.water mark. The
price Of cotton has been low for nearly
o year, and bids fair to continue de-
pressed. Moreover, that great indus.
try, the iron manufacture, still remains
PROSTATE. It seems to us, that the
change imperatively demanded, by the
present and prospective low prices OF
all articles consumed by laborers, is q
reduction OF wages. But wages are
not reduced in good times. On the
contrary, they are advanced in such
times. II wages arc to be reduced,
times must continue TO be dull for q
while.
Considering, therefore, that the whole
commercial world is stimulated and de.
pressed by slow working influences,
which, like the sunshine and the air,
have no boundaries ; remembering that
the transitions from prostration to OK.
altation have hitherto usually been pro.
yokingly gradual, and believing that
many obstacles still exist in both liemis.
pheres to that full working Of the in
dustrial machinery which requires
every mans labor and supplies every
mans rational wants, we cannot Join in
those cheerful predictions OF impend.
ing prosperity which, II is said, will
overflow the country at or before the
time Congress meets. Weeks before
the panic, we warned our leaders. II
was not grateful task; but those who
Needed us have had reason to be CRATE.
ful since. II would be far pleasanter
now to prophesy smooth things. But
our readers look to us for what is true
rather than what is pleasant, and have
q right to demand that we shall point
out the actual situation and prospects
rather than what We and they alike
should be glad to have them. We ex.
pect revival of business to begin to
manifest itself this fall, but we do not
expect to plunge at once into the full
tide OF such apparent prosperity as the
country was riding upon In the winter
and spring Of 1873. "Slow and sure I"
should be the maxim OF business men.