The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-07-07
BUSINESS.

prospects Tor o Lively Fall TTndes
tR. q. Damn 3 Co.'S Reference Book for July.j
The circumstances Of the past six
months have not been favorable to trade.
The effects Of the panic Of last September
have fingered longer than was anticipated
by many; but these effects have been more
apparent in restricting trade than in pro.
ducing disaster. Considering the esudden,
meas and violence Of the crisis Of last au.
tumn, the commercial fabric Of the coun.
try has not shown serious signs oil dis
order, II the number or importance oil
mercantile failures arc TO be taken as
an index 10 its condition. 1t 10 q TACT, as
surprising as Il Is gratifying, that within
the past ak months there have absolutely
been fewer failures 10 number, and Ger.
tainly fewer in prominence, than for
the same period In the average ol years.
On the contrary, wo have had abundant
opportunity for observing q very re-.
markable reduction OF indebtedness In
all classes and 10 almost all sections
OF the country. II is safe 10 say that
the internal mercantile Indebtedness
In the country tt Jay Is not more than two.
thirds what 1t was at this time last year.
Indeed, 80 great has tho tendency been
toward liquidation, that 1t alone has been
as much a cause Of a restricted business
and hampered trade as any want Of con.
tdence In the stability OF The country, or
tho safety Of credit, The flight that the
debtor class received In September has
had It's effect, and the very prominence Of
the failures that Immediately followed
impressed deeply lesson that has been
needed. ...-
II, then, II Is good to be reducing debts
III It Is wise 10 owe two dollars where
last year three were due-the six months
oil dull times which have been expert.
encea are not withUutsome compensation
With this consideration in mind, the 10.
ture does not wear as gloomy q look ss
might be anticipated, In view oi the al.
most universally depressed tone Of public
sentiment regarding the condition Of busi.
ness. Il would b. idle TO deny that the
dull trade Of thepast six months has made
some inrOads upon the surplus capital Of
not 9 few, Tor expenses have not been re-
duced In proportion 10 the decline OF
profits, while the depreciation Of values
In many departments has been very
marked. Many trader Is therefore
poorer than he was q year ago. Should
the restricted business continue, disaster
may follow, and failures be frequent; but
It IS surelya reasonable expectation that
the autumn trade will be fair one.
All the indications that In former years
are presented now. An unusually sbund-
ant crop OF almost every production 10
promised In almost all sections OF the
country. Prices for these products are
maintained at remunerative figures, and
the steady gain In tho value Of our ex.
ports, which the past ak months has
shown, Is almost certain OF repetition in
the next hslf year. The importatious
show large decrease; the stocks ol all
kinds Of merchandise are coniessedly low
in all retail and cOnsumptive quarters,
and we confess VIC can not see
how there should not be satisfactory
business done. Themonetary institutions
OF the country have been well sustained,
all the machinery Of commerce is In run
ming order, no violent shock has been Civ.
en- 10 the currency by legislation, and
there is nothing 10 prevent reasonable
activity In those articles that go TO make
up legitimate trade. The new railroad
construction account, the iron interest,
building operations, and other depart
ments that have anticipated tho demands
OF the time OF years, will not unlikely con.
tinue restricted and depressed, but that Is
no good reason why there should not be
fair business done In merchandise.