Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1874-10-30
REVIEW
COMMERCIAL EPITOME-Trade

| oct. 80. 1874.
COMMERCIAL EPITOME-Tr
here well as else here continues
dull With no very encouraging pros
poets of any immediate change for the
better. The fact is appart Mt that il
every department of business a dispo
s1tlOn is manifested to contract rathe.
than to expand; that there is a relaxa
ton III most great enterprises; that in
dustrlal pursuits generally, are in al
unsatisfactory condition, and the gen
eral inactivity of trade IS a necessary
consequence of this state Of things
but the business men of the United
| States, are a people of remarkable re-
Operative powers, and 1t IS not toe
much to expect that ere long we may
see an entire change i'll the general as
pect of affairs. The only change in
the state of business affairs during the
| week has occurred i'll finances at the
large Northern cities. In most of the
business centres money has been more
active and the rates of interest have
advanced. How far this advance is
applicable to our own market we are
unable to say, but suppose that there
must be effects, as money still contin-
ues scarce here and loans very hard to
negotiate, except by the best and
strongest of business men or on real
estate. The New York shipping List
thus describes the commercial situa-
ton. 1t says
"The commercial situation has
changed in no essential particular.
The volume OF trade in about all de-
partments continues below the average
of recent seasons, previous to the pan
ic, and prof s are comparatively small.
A spirit of economy evidently pervades
the masses IN all departments, which,
coupled with relaxation Of great bust
ness enterprises, makes what is called
'hard times One of our prominent
merchants thus sums up the situation
in a nutshell. eve arepassing through
period of discomfort. Labor lacks
employment. Industry is paralyzed.
But the resources of the nation are
abundant. Our people possess remark
able powers Of recuperation. By prac-
ticing economy and living within our
means, both capital and labor will ere
long rise from their present embarrass-
ed and depressed condition.; and by
their cordial cooperation a bright
country. In the meantime let us
upon which tho prosperity of all
by adhering to "doctrine of finance
upon which the prosperity of all
classes must rest, )" is to provide a me-
tallic basis for our paper currency. 1t
is well known that this currency,
hiob VI ooI,ptrv
by the late war, led successfully to
of the worst kind, and finally to the
panic and general relaxation of in
dustrial and business enterprise, the
existing state of affairs being much
aggravated by the depression which
prevails throughout the whole mercan-
tile world; for bad as business affairs
may seem in this country, they are no
worse than they are i'll the leading
countries of Europe, according to
private letters, published accounts
and verbal reports which we receive.
The Government ought to have resum
ed specie payment at the close of the
war, but having let that opportunity
pass. another was presented after the
panic of last year. If we had en-
braced the latest opportunity, it is al
together probable that the progress
towards a better state of affairs would
have been continuous and decided.
The cereal crops continue to come
forward slowly, owing to the suicidal
policy of the farmers in holding them
back, and there is little doubt that the
Granger system is proving detrimental,
not only to the farmers, but to the
general trade of the country. Locking
the crops up cannot remedy the evil
that is sought to be remedied, and the
farmers will, sooner or later, ascertain
to their cost, the truth of the asser-
ton"
Our naval store trade of the
week has not been as satisfactory as it
should have been. There has been some
weakness displayed. and in some i'll
stances there was decline. The ship
ments for the week foot up 3,71O bales
cotton. $40 casks spirits turpentine,
and 8, 76S bbIs rosin, against 3, 14O
bales cotton, 698 casks spirits turpen-
tine, and 6,94S bbls Iosin for last
week.
Foreign freights are still dull, and
rates are little lower than last week.
There is very little doing in the way
OF cuhTU6TS.
The chief features of the marketan
the changes of prices of most of the
leading products and manufacture for
the week were as follows:
COTTON-The market for Cotton
has shown a depression nearly all the
week and prices have declined. There
has been fair business doing in both
sales and shipping, and the exports
alone to foreign ports Tor the week
reached 942 bales. The Norwe-
gian Barque Mediator took 72l bales
and the Br Barquentine Adeliza took
out 221 bales. Besides these ship
ments 1900 bales were shipped to
coastwise ports. The receipts have
averaged over 600 bales per day for
the week, and we are receiving cotton
this year from sections of the country
market. In fact we are becoming
quite q cotton port, and when
the Carolina Central Railway is
finished we can see no reason why the
crop which is raised in Western North
Carolina and Eastern Tennessee should
not let Wilmington be its outlet to
other markets. At the close of the
week the market is firm.
Inc receipts ZOE tue "eeh were a9
follows q:
Friday G94 bales.
Saturday LID
| Monday .......- .---...... So
Tuesday ..5o3
| Wednesday. 1872
Thursday. .... ........-.36 1862
Being total of ........ 1924 bales
against 2, S37 bales for last week.
The stock in yard and ahoat is 2, SSt
bales.
The general Cotton movement fol
the week was as follows It appear.
that the total receipts for the seven day
have reached 127,976 bales, agains
121 1854 bales last week, 96,277 bale
the previous week and 58,081 bale
three weeks since, making the tota
receipts since the first of September
1874, 5OO,701 bales, against 362,9S
bales for the same period of 1873
| - cbouiDp an iDnrease since Spntpmb he