Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1874-09-02
gle RepubHrap.
Better Times Coming.

i
night may be regarded as sort of pro-
logue to new rendition Of the ever.
shifting drama of events, whose story
ceuters around this locality. For
weeks, indeed it might be said for
months past, recuperative forces of the
country have been silently at work re-
pairing the damage done our several
industries by the panic, and, although
making but little outward exhibition
OF the results attained, those who had
faith In the energy and activity of the
restless, striving people, to guide them
IN their observations, found ample
encouragement on all sides. We are
just about reaching the outgrowth of
that patient endeavor, that quiet pur-
pose, and the last week has been
noticeable fer outcroppings of restored
confidence and revived business 1t is
noticeable feature of this revival that
it is accom- panied with conservatism
rare since the beginning Of the late
rebellion, but exhibiting sound eau
ton and reserve to be welcomed as
governing principle in transactions
which extend over such a vast extent
OF territory as ours, and in which the
relation of debtor aud creditor has a
peculiar character Gifts own Incidental
to ease or difficulty, as the case may be
of collections. Thus we fluid in the
dry goods trade that while. during the
past week, there has been a fair at.
tendance Of Western and Southern
buyers, their purchases have been
mostly on a restricted scale, aud not
up to expectations of jobbers. Some
OF this is due, perhaps, to existing un-
certainties respecting railway freights,
which have not yet reached permanent
or to be presumed enduring Cat least
for the season. basis but more OF it
is to be accounted for by the expecta-
sion OF lower prices, in which, it is said
holders OF goods share. The man
reason, however, can be readily found
in the lesson taught by last years
panic. Western dealers are disposed
to feel their market before accepting
heavy burdens, and will feel it as it
calls for goods for consumption. This
is likely to give the first weeks of the
season less hopeful appearance than
has been looked for, but if the expecta.
tons formed were we'll grounded the
demand will not be less because of the
present reserve of buyers. This re-
serve will also serve to prevent all
danger Of fresh disaster in the future.
The trouble growing out of the panic
would seem to be almost entirely
closed out as there are no new reports
Of embarrassments, and the feeling
throughout the trade, Notwithstanding
the existing quiet, is one of confidence
In an active business ere the season
closes.
The money market offers every eu-
couragement to anticipate considerable
activity in general trade circles. AL
ready the banks are beginning to ship
currency-mostly national bank notes
it is said ss..although the bank state
ment shows loss of nearly 100000
legal tenders each week-to the West
to aid the crop movement. This is
healthful. The banks here hold s26,-
750,0OO IN excess Of their required
legal reserve, and can we'll afford to
stand heavy drain, SO long as the
money drawn out enters into legitimate
use. An advance in the rate of inter-
est here, even to seven per cent.
would if thus produced, stimulate
dealings here much more than the pre-
sent low rates, while its effect on the
St OK Exchange would be to restore to
it something of its old tone. CONNER
clai payer passes easily now at five to
seven per cent. The decline in the
Bank of Englend rate of discount dur
ing the week, from 1 to 81 per cent.
shows return in London to normal
condition, of money temporarily dis
turbed by heavy sales Of French securi-
ties, the proceeds of which were ship
ped 10 France That this decline was
the result Of relief obtained by the bank
from large shipments hence is sisuif-
can't, as Is also the fact that these ship
meuts were made without very material
y affecting the gold premium here, the
highest figure of which for the week
was llO.-N. T. Herald
A SAD INCIDENT Our readers
are probably aware that the millenial