The Portland daily press., 1874-10-13
OUR New York letter will be found on the
frat page, together with Notes from Virginia,
News Items and other matter of interest.
A Prosperous CITY.

called ''hard year" for business people. In
the best of times there is certain class Of
chronic croakers who complain of dullness;
but this year thsy seem to be pretty fully JUS
titled by the facts. There is actually less
consumption of goods than usual in all de-
partments where curtailment is possible, and
retailers find themselves carrying too much
old stock to permit them to make the usual
purchases ofnew. Not even the decrease in
prices caused by this state OF things is suffi.
Gent inducement for laying in the ordinary
amount offresh stock. This situation is the
natural result of a long series Of events be-
ginning in 1861 with the war of the rebellion.
The hill Of prosperity whose steep side was
assembled with such marvellous rapidity, under
impetus Of the large issues of paper money
made necessary by the war, has correspond
ing descent on the other side. more gradual
but constant, and steadiness in business can
not be hoped for until the level hard-money
plain is again attained. Many people are in
the habit Of charging everything unpleasant
or unsatisfactory to some action or inaction
of government; but it is not difficult to &C
count for the present business stagnation on
general principles.
1t is proper matter for felictation that this
stagnation which is so conspicuous in New
York, Boston and most other trade centers
is hardly perceptible here in Portland. The
panic oflast year which had so Gripping an
effect elsewhere was hardly felt here, as our
people have for many years devoted them
selves almost exclusively to legitimate bust
ness and have dabbled but little in the entic-
ing speculations whose ruin in the panic
wrought so much destruction. Portland en-
tered upon the present year in good condi-
ton for business and has been exceptionally
prosperous in nearly every branch of COM
merce and industry. The extent of our manu-
featuring was shown in the exposition last
summer. But it is in our jobbing business
that the most satisfactory advance is found.
A conference with some of the leading houses
in the different departments develops the fact
that the steady and healthy growth of the
past ten years continues even through this
hard year, aud that there are more goods sold
by Portland merchants this year than in any
former year of the city's history. This fact,
taken in connection with the drawbacks
against which the progress is made, shows
that there must be an enlargement in the
area of trade and that new channels have
been opened. Much of the trade of Maine
which formerly went to Boston now comes
here, and the inland retailers are finding
more and more that Portland is good place
in which to buy goods. Our trade in New
Hampshire and the Provinces is also increas-
ing and makes an important element in our
commerce. The most cheerful part of the
exhibit, however, is the encouraging aspect of
the future; nearly everybody is hopeful and is
anticipating good times to come. The i'm
provements of our avenues of communication
are noteworthy, especially the change of
gauge of the Grand Trunk, which will enable
the road TO be of more service to our city than
ever before. The change Of management,
too, promises we'll, as the new men in control
of the road seem to be enlightened and pro-
gressiye and evince disposition to cultivate
friendly relations which should be promptly
recognized by our citizens.
On the whole Portland is certainly prosper
ous Our lumber business sympathizes some
what with the depression which is upon that
branch Of trade everywhere, but our
business generally is remarkably good as
compared with that of other cities. There
is large amount of building going on
in all parts of the city and the
erection of several fine blocks is in contem
plation. Rents are scarce and hut few build
ings lack occupants. There is a general
agreement among our citizens that the city
has fairly entered upon an era of growth in
wealth and population, and this view is fully
confirmed by an examination of the elements
of prosperity in detail.