Wilmington journal., 1874-01-16
fsIIFIEN
OF THE
WILMINGTON MARKETS,
J'pE TIE
!. FIN 1.SIfaNs: THURSDAY
January IS. 1874.
TsIIVIEN'
COMMERCIAL EPITOWE--

trade i looking up and the markets
generally indicate g.. increasing firm
ness. Indeed, the business outlook
IS N every say Encouraging, the
indications at present point to
IL speedy revival OF business activity
and t. 1t renewed season Of prosperity
IL the commercial interests OF the
country. Manufacturing enterprises
which were generally prostrated by
the financial crisis, are reviving all over
the co2n.iy, AMI the vince sof commerce
are again revolving with increasing
vitality. st the North and West we
have the encouraging fact 20 notice
that there Is a general revival Of bnsi-
mess, but the question OF initiation or
contraction OF the currency i. still
directing and attracting the attention
ol the cOmincrciai Journals from the
regular Writings OF the industrial and
conlmccclal interests, and until Con-
gross settles this difficulty wo may
i0oh Tor some restriction and perhaps.
inactivity IA commercial circles. The
ft!inHc|0l Chr)nicic, liz speaking o.
the ont looh. says. "1'here is :. general
feei'c. IN commercial circles, that
tEl,-rc IL 10 fo IN the Immediate Iuture,
q general revival OF profitable busi-
mess, on the plincip!u fhat one cxtre NE
13 pretty certain to be followed ily
another. The machinery of business,
which was distointed and thrown ont
OF gear last autumn, has bsou adjust
Ell, AID may now he said to bo IN good
working order; tie country never haG
greater wealth OF resonrcs than at
present, and if Congress does rot
mako the intXcusable mistake of in-
hating tho currency. beyond tho tenn
porary r,ee ot the so-calied grccnbaciz
reserve, az sra OF great prosperity will
no doubt follow. All that is wanted
to insure an enduring prosperity is
fixed financial policy, based nron
sound economic principles. and Il our
national law makers will abandon the
nurnorotls schemes for imitation. ti3e
people will l,s ,tisposed 10 pardon
thc.r o!,Iiqu;tv il raeard TO other
tinclc.ii '@.a-i.iua. Tic Cincinnati
CJH3i5sCrc.,H I;o+i.,c US or th4 con-
d.tion OF the country ard ErGda pros
poets. IS follows:
The country IS Eow beginning 10 re-
calEe some con!}el2< 2<a$:c.l ior the f5ros-
tration CE business bv the panic q
last September, a2d is coa7cQUe4ccs.
What its results to tie trade were, are
too well knovo To need rehearsal, bat
what Is 20 come seems as yet % be
only 10 vaguely appreciated. / has
been remarked that the c2cTc1l2ntile
interests : the county, stood the
shock to credit and the prost-at;on Of
business better than could reasonably
have been anticipated. The reason Of
this WG5 that back c. them stood 9
prosperous agricultural interests, which
being able 10 pay either in n2o-av OF
produce, sustained the merchants. and
thus the means for q general L5uida-
ton Of dc'?ta WIS 5otnd, which pre-
vented o greater or longer continued
depression thnn actually occurred.
This payment of debts to tho amount
OF many millions, probably i would
he safe to say hundreds Of million cf
dcllar2, reduced TIC demand ior
discount al over the co11utrv
u Il :proportionato amount. Tor
rionov Is always il greater deulaud
when there IS large imitation of cred
! It's. The fall ii prices of merchandise
ard securities lad q similar effect, for
i required loss means 10 transact the
-azaa -oIculo Of business n them.
. These two items. the reduction II
cruai:s ara tie fell ii prices, have tic
same oiIect a3 an imitation ot the cur
rcncy, and il only required that conf
s:.:tco should be restored SO shat hoard
a.l moneys ello'ild come back into the
cEanAci5 Of trade = lrGke apparent
/ ti!g working Of the la| Of c5npe. sa-
tior. Now confidence IS restored, and
while t'.ere Is disposition On tho
! part 81 business Men everywhere to
work npon p safe and Conservative
basis, It Is becoming daily more ap-
J parent that there WI be f:2l recoY
] e1y IL prices @: nearly a.! kinds Of
! raorch anGiis5 and securities, and the
| probabilities, perhaps = would not be
! too strong 10 say the cartAint:es, Hra
! that the reaction from the extreme de-
! preston will be SO great as TO carry
] prices as n.I2ch above their norma!
level as they have been belowit. here
Is All accumulation Of money il all Of
the larger centers which must find en-
/ pioyment, and the rates Of discount
/ have declined to SO low 81 point that
! borrowers who have sustained their
| credit during the last few months be
ing urged to take it will employ it in
: their business when they see their way
/ TO DO 80 proftabiv. Manufacturers
f, arc starting their idle machinery alI
oyer tht, country, labor is obtaining
employment, tho tillerS Of the sol; art
cnubie1 to sell their produce ct il.
creased prices, and SOON the consnnlp,
: ticr of all articles viii resume it,
woItcd proportions. Ino imitation ni
the currency accelerates this move
ment, which however is sufficiently
rapid for the best intercs Is OF the cOun
try without it. and this will only carry
tho matter too far for Il sound anc
heaitbful 3ot Ciopmcnt.
with the productive interests ot
tho country III a sound condition gen
orally, with the West in possession o.
large crops or the proceeds OF them
with the South marketing large crOI
of cotton Mt re1nuneratiye prices, witt
the mercantile class recovered OF
rapidly recovering from the shock o.
the panic, and with the banks possesse &c
o. the ability to furnish the needed
facilities for trade, We SEQ no reason
why tho vear which we have just en-
tere,. upon should not De e,:;o ot ex
ceptional prosperity in abusiness poin
of view"
I Aud now having given the opinion:
Of the Northern press upon the coun
try ard the business outlook
we turn ourselves to orr home
market to see how trado ha;
suffered or increased since ve las
wrote OF tho market. The first thing
which presents itself to our cons!dera
ton is tho naval store trade. This
being our most important business Va