The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1874-08-27
Business Prospects.

1t is now near a year since the occurrence of
the great panic, and the country has not yet re-
covered from it. 1t has been year of contrac-
ton and suspension, and yet, notwithstanding
the extraordinary shrinkage of values, there
have been comparatively few failures. Usually
panics have been followed by failures, settle
ments, and then revival of business but in
tinued inactivity The general aim has been to
reduce expenses, pay off debts, get matters into
shape generally, steer clear of speculations of all
kinds, and wait for the result of the harvests of
1874. Meantime, money has been abundant.
Loanable capital has never been more plenty
than during the last six months, but this has
not encouraged speculation. As a result of all
this, merchants and manufacturers are carrying
very light stocks Of goods and consumers who
have been buying from hand to mouth are also
short.
There is no great surplus Of goods anywhere,
with the exception, perhaps of iron, and this
trade will not revive largely until railroads re-
cover, and this recovery will follow revival of
general business.
The event to which business men have been
looking forward is the harvest, and the season
has progressed far enough to show what this is
likely to be- The crops after all are the founda-
tions upon which all other interests depend.
What, then, is the condition of the crops? It is
safe to say that the United States never had bet
ter average harvest than that of 1874. Small
grain has been secured, and corn is safe from eve
ry danger, excepta very early frost Oats short
in some places, as also hay and early potatoes,
but taking the country through there isa good
crop of every thing. Ohio will, as matters now
look, produce over eighty million bushels of
corn. In some parts of the country tobacco is
short, but this loss will be made up by high
prices, SO that the result in dollars will be full
one. The cotton crop, which it was feared about
planting time would be short, now promises to
be the largest that has been gathered since the
war. Of course this crop is not out of all dan
ger, but the present prospect is good.
Good crops being assured, the next question is
as to prices, and these must be governed largely
by the foreign demand. The advices from Eu-
rope show that there will be a large deficiency
in the supply of grain, and that tue foreign
demand will take the entire surplus of the
United States at full prices Wheat is probably
lower now than it will bo at any future time up
to next harvest, and the indications are that oats
and corn will command higher prices than the
average Of the last year Hogs arc high-S1 to
s. 80 per 100 lbs. gross. This is So above last
years average. Hog products have advanced
seventy-fve per cent. since the close OF the last
packing season, and by the incoming of the next
winter crop the market will be bare OF provis-
ions 1t is hardly to be expected that hogs will
sell through the winter as high as they are now
quoted but they will sell much above last years
average. A large proportion Of the heavy corn
crop will, therefore, be put into pork at good
prices. Europe will also take large amount of
corn, at fair prices. Last year the shipments OF
corn to Europe were large, and these are steadl'
ly increasing.
The stocks of cotton goods are light, and
when the demand from CONSUMERS springs up,
AS it must, factories that have been half or
wholly idle will he set in full motion in this
country and in Europe so that with al in
creased crop of cotton renuncratlve prices may
be expected.
With good crops and good prices, then moth
ing can occur to prevent revival OF business.
Money, which has been scarce in the country,
will be in good supply as soon as the crops
move. This will give farmers and merchants
something else to think about than hard times
and scarcity of currency, and it will also give
full employment to railroads and steamboats,.
1t will tax the transportation lines, by both rail-
and water, to remove the great crops this year
as they have not been taxed for many seasons
past.
Although the prospects are most charming
with good crops and heavy foreign demand at
full prices, the autumn business will be in
marked contrast with that of a year ago, and
the prospects are that, when the first frost falls
merchants, instead of finding it difficult to sell
their goods, will have more difficulty in finding
goods to meet the demand-Cilcuanah Weekly
Gazette.