The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-07-29
rom the Baltimore American Of 91th.)

From the Baltimore American OF 21th.)
The New York Commercial! Bulletin,
than which there Is no better or more ju.
diclous authority upon the question, re.
Gently venlured tho prediction that the
Fall trade would show a remarkable revi.
val Of business generally throughout the
country. The Boston Journal Of a recent
date also remarks that from opinions
gathered from conversations with gentle.
men representing the different branches Of
commerce, including manufacturers, ira
derS, bankers and spectators, 1t Is notice
able that they are unanimous in their be-.
lief Of the probable revival Of trade at an
early day. From the great cities Of The
West we have the same gratifying re.
port, only abated by the banelul inilu-
ence Of the railroad laws Of Iowa,
Wisconsin and Illinois. Baltimore mer.
camille circles, are tos some extent, the most
conservative In the country, but we think
that they too are looking 10 the future In
hopeful spirit, and preparing for a
heavy autumn trade. This conviction Is
based mainly upon the fact that the crops
Of all kinds are TO be large, and that they
will fetch good prices, on account OF the
demand both at homo and abroad. In
the South, so far as we can Judge from
the most recent reports, the cotton yield
promises TO hit the medium between an
Improbable plethora and an equally un-
remuneratiVe scarcity. The crop will
be heavy enough TO supply the demand,
but yet not so great that the growers must
beg the factors 10 take Il of their hands
at any price, as was the case three years
age.
The fact Is well known, tho Boston
journal remarks, that stocks OF all kinds
Of merchandise in the hands Of retailers
are quite limited, and it is safe from such
a condition Of affairs 10 anticipate that re.
tallers must replenish TO meet the demand
which will spring up when consumers
commence to purchase. While tits true
that speculation has been checked in this
country, It is not true that the natural and
legitimate 0rooM Of the country varies
materially from the average OF preced-
ing years. New acres are brought
under tillage, new towns are coming into
existence, emigration, though not up to
the average, still continues, while the in
crease Of population, especially at the
West, is and has been quite large. There
are more mouths 10 be fed, more feet TO
be clad more backs TO Clothe, than there
were a year ago. There may be more
persons engaged In the work Of furnish.
ing all these supplies than there were a
year ago, the business may be carried on
by larger number, and thus profits are
scattered, but the aggregate result is the
same.
We had a financial panic last fall be.
cause speculation had gone beyond the
basis upon which it was built. The sale
OF stocks is not business barometer, but
when 1t is carried on on the principle OF
q pyramid standing on Its apex, the pyra.
mid must tumble over some day. That
is what happened In the past October,
and We do not think that the lesson will
be lost. That lesson obviously Is that
men should pay more attention to legiti-
mate trade, and keep out Of speculative
gambling. There is one as yet hardly
effect OF the Currency
bill oil the late Congress, and it is
that in the future the locking up OF green.
backs can scarcely be successful again.
We do not know that the trainers OF the |
Comprehended this effect; II they
did not they built wiser than they knew. |
When the revival Of trade commences we
shall see the marked advance Of solid Sc
Curities now go depressed; and capitalists,
who are actually now suffering more in |
than any other class in the
will find their investments re.
turning profit once more. For these
various reasons the outlook is favorable,
and we believe that We shall enter upon
thoroughly prosperous business season Of
1874