The democrat. [volume] (Weston, W. Va.) 1868-1874, 1874-08-31
A IIoperul View,


The New York Daily Graphic pub
fishes an imaginary conversation be-
tween q Wall street "Bull and q
Bear" which clearly and happily sets
forth, dramatic form, the sntagonistic
views Of their respective class upon the
probable future OF values and prices in
this country. 1t may be summed up as
follows:
The bear" argues that the cloud
Of the panic still oyershadows the
land that the Western droughts, fires,
grasshoppers and chinch.bugs and the
Southern floods have tended to dimin.
ish the crops and depress commercial
activity that the sight spurt OF re-
yived business activity which followed
the adjournment OF Congress has al.
ready died away and q reaction ensued;
that the necessities OF repayment OF the
thousand millions OF borrowed foreign
capital and tho interest thereon press
heavily upon our people, who are now
poor, restricting them from their ordi.
nary expenditures in purchases OF
goods and in travel that, consequent.
ly, manufactures and railroads suffer,
and in sympathy with them all values
are and must long remain depressed ;
that the panic has frightened people
from investment in new enterprises,
particularly those Of ioint.stock char
acter, and that it will be long before it
will be practicable TO SO far re'establish
public confidence Us to give q healtful
impetus to any form OF speculation.
Tho "Bull, on the other hand, takes
much more hopeful view OF the future.
He claims that there has been direct
good resultant from the panic, in di.
yerting individual energiec from specus
lation to production, in enforcing a
valuable economy, and in clearing the
country OF goods and thereby creating
au increased demand for manufactures;
that Notwithstanding all the malign in.
huenoes mentioned by Mr.. Bear the
crops OF the present year will be TWEEN
ty per cent. greater than in any proceed.
ing year; that this increased harvest
will give new life TO our railroad and
shipping interests, and its profits will af.
ford abundant means for the purchase OF
manufactures, the stimulation OF trade,
and investment in new speculative en-.
terprises; TINT the currency question
is SO settled as TO adapt the supply OF
our medium OF exchange to the de.
mands Of business; finally, that We are
n nation Of bulls, hopeful, volatils, not
easily depressed for long and quick to
turn ourselves so as to wrench success
from the jaws Of defeat, hence that the
country, with the encouraging crop
prospect now before it, is on the eve Of
uprosperous season OF Legitimate specu.
lation and healthiuI initiation which will
very speedily wipe out all the sad
traces Of the panic.
Reviewing these opposing arguments,
We are inclined to heartily endorse the
judgment OF the "0utsider " to whom
they are supposed TO DO addressed,
that there has never been q better sea.
son for Investment, by those who have
money, than the present. Prices are
low-lower than they should bo-aud
must inevitably speedily appreciate
and, while We cannot fully coincide
with the Bulls eager confidence in IN
almost immediate commercial millen.
mum, We are we'll satisfied that q very
short time must elapse before the song
OF "hard times is heard no more and
the better time coming at least gives
unmistakable signs Of its approach.