Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1874-09-16
The Business Outlook.

Comparing the reports recently
gathered in the various branches Of
trade, it will be admitted that moder-
ate improvement has thus far been
developed since the first of August.
1t is not enough, perhaps, to satisfy
people who are too impatient to wait
for the operation Of fundamental trade
laws, hut it should encourage all who
can see that such CLEANS of revival are
the precursors of more decided pro-
gress out OF the slough Of dependency
and stagnatlon into which business
was thrown by the public When the
becalmed mariner sees even a faint
breeze blow upon idly dropping sails,
he can wait hopefully and patiently
for the stronger wind which he knows
III. follow. AND so the merchant and
the manufacturer, once convinced that
symptoms of recovery are perceptible,
may take heart and confidence.
Trade seems to be reviving about as
rapidly as could have been expected
under the circumstances, not with
feverish and unhealthy bounds, but
with gradual aud steady movement.
Tho ais Inertia Of the mass has been
overcome, and it Is swinging slowly
into the current, presently to gain ac-
celebrating impulses. The first indus
tries which feel the vitalizing process
are naturally those which supply ne
cessary articles of wear for domestic
use. These are embraced in the dry
goods trade. AS this demand makes
itself known, it involves correspond
ing increase in manufacturing industry
connected with that trade, and so
through various channels the improve
ment carries its influence, not only in
aid of the employer but of the employ
ed. And as this extends it's relief
and the sphere of industry enlarges,
other departments of trade must feel a
partial restoration of the business
which consumption and increased
means of gratifying its wants are sure
to create.
Such is now the outlook-a moder-
ate trade on the ascending grade,
through the autumn, and still more
healthful prospect for the coming
spring; but we do not anticipate a
speedy revival in some industries
which are more intimately connected
with the railway interest and the manu-
factures of iron aud other metals, the
prineipss cost OF which is in labor.
Nor should any material improvement
be expected in the building interest.
In the general initiation, copper, iron
and other me ais have been too high,
and the cost Of manufacture has been
excessive.
And here comes in the labor ques-
ton, which is vital in the considera-
ton. Iron in the pig, and in the
manufactured article, has declined to
prices which compel reduction in the
cost of labor, or a stoppage OF work.
No material advance can be expected
for some time It follows, then, that
labor must accept lower wages. But
in order to reduce the cost Of labor,
the necessities of life must be lower
and rents must come down. With
cheaper beef, pork and -four, and lower
rents, labor can afford to accept re-
duced wages, and they will be accept
ed. Lower rents will stop building
until building materials go through the
same process; and the carpenter,
stonecutter and mason must give way
at the same to the new scale of prices,
as they can afford to do when the cost
of living is diminished. In due time
these questions will be settled, and
then the country will start fairly in it's
progressive march.-Boston Daily
Traveller.