Omaha daily bee., 1874-07-04
BUSINESS.
Prospects for . Lively Fall Trade.

(From r. G.. Dunn q Co.'S Reference BOOK Pr
July.)
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 producing disaster. Considering
the suddenness and violence Of the
crisis of last autumn, the CONNER
cial fabric of the country has not
shown serious signs of disorder, if
the number or Importance of mer-
camille failures are to be taken as an
index to its condition. 1t is q
fact, as surprising as it is graft
fying that within the past
six months, there have absolute
ly been fewer failures in number,
and certainly fewer in prominence,
than for the same period in the
average Of years. On the contrary,
we have had abundant opportunity
for observing a very remarkable re-
duction of indebtedness in all classes,
and in almost all sections of the
country. 1t is safe to say that the
internal mercantile Indebtedness in
the country to-day is no. more than
two-thirds what it was at this time
last year. Indeed, SO great has the
tendency been toward liquidation,
that 1t alone has been as much a
cause of restricted business and q
hampered trade as any want of con-
fidence In the stability Of the coun-
try, or the safety of credit. The
fright that the debtor class received
in September has had its effect, and
the very prominence of the failures
that Immediately followed impress
ed deeply q lesson that has been
needed.
If, then, it is good to be reducing
debts-if 1t is wise to owe two dol
liars where last year three were due
the six months of dull times
which have been experienced are
not without some compensation.
With this consideration in mind,
the future does not wear as gloomy
. look as might be anticipated, in
view OF the almost universally de-
pressed tone Of public sentiment
regarding the condition Of business.
IL would he idle to deny that the
the dull trade ofthe past six months
has made some inroads upon the
surplus capital Of not q few, for ex-
penses have not been reduced in
proportion to the decline of profits,
while the depreciation of values in
many departments has been very
marked. Many . trader Is, there
fore, poorer to-day than it was q
year ago. Should the restricted bu-
siness be continued, disasters may
follow, and failures be frequent;
but 1t Is surely . reasonable expec-
tation that the autumn ta1e will
will be q fair one.
All the indications that In former
years would be taken as q basis for
this hope are presented now. An
unusually abundant crop Of almost
every production is promised in al
most all sections Of the country.
Prices for these products are mains
tanned at remunerative figures, and
the steady gain In the value Of our
exports, which the past six months
has shown, is almost certain Of rep
clifton In the next half year. The
importations show . large decrease;
the stocks Of all kinds of Merchan-
disc are confessedly low In all retail
and consumptive quarters, and we
confess we can not ZEE how there
should not be . satisfactory business
done. The monetary institutions Of
the country have been well sus-
tanned, all the machinery of COM
nerce is inrmning order,n violent
shock has been given to the curren-
cy by legislation, and there is moth
ing to prevent . reasonable activity
in those articles that 60 to make up
q legitimate rtEade. The new rail-
road construction account, the iron
interest," Building operations, and
other Departments that have antici-
Gated the demands Of the time by
veazu. win not unlikely continue
restricted and depressed, but that b
no eood. reason why there should
not be . fir business done In mer-
chandise.