The Portland daily press., 1875-03-12
The Business OntInnk

For obvious reasons trade during the winter
just passed has been exceptionally dull. The
snow and ice blockade has seriously impeded
travel and the transportation of products; the
uncertainty in regard to the modified tariff
has discouraged investments; the prospects of
adverse financial legislation has rendered capi-
tai timid; the disturbed state of the South
has cut off the extension of credits in that di-
rection; and the unexampled dullness of the
iron interest has had a depressing influence
upon other branches of business. Business
men have been discouraged at the tardy open
ing of the spring trade, not rejecting how un-
reasonable it is to expect a "spring trade"
before there is any spring except in the al
manac, how absurd it is to look for the ap-
pearance of the consequent before its ante
cedent.
All this has now changed. The ice block
ade is broken, the snow-drifts are slowly
melting away under the high sun Of March,
easy; congress has adjourned without tam
periDg with the currency, without burdening
the people with subsidy schemes, without vot-
ing extravagant appropriations; the new tar
if does not materially burden any branch of
industry; the drift of events is toward con-
traction and stable currency; the settlement
Of the Louisiana question promises to do
much in the direction of the restoration of
order in the South; and even the iron and
railroad interest shows signs of recovery from
the depression which followed the panic of
1878. The direct obstacles in the way Of the
revival of business have been removed.
The situation of the country is certainly
favorable to industrial interests. The stag
nation of the past six months, and the limi-
tation of manufacturing has caused a sensi-
BILE diminution of stocks on hand, and large
demand has set in which calls for greatly
increased supply and general starting up of
mills and other manufacturing establish
ments. The crops have been abundant and
the agricultural population is very favorably
situated. Debts have been in a great meas
ure paid up, the merchants have clean books,
money is easy, capital is eagerly seeking good
Investments, people are chary of bubble
schemes. On the whole the outlook is very
encouraging, The very lowest point OF de-
preston has been reached, and if safe finan-
cial policy is pursued by the government,
business will show marked and constant i'm
proyement.
Our merchants in all departments Of trade
are sanguine, and the observations they have
made reassurirg. Ample preparations have
been made for a lively trade, and the orders
already received show that confidence in
rapid improvement of the business outlook is
not unfounded. An excellent business has
already opened in the wholesale and jobbing
houses, and the retailers report marked in
crease in traffic within the last few days. The
great industries of the city and state are fast
reviving. The clothing trade is exhibiting a
marked activity, and there is an increased
demand for the better class of goods. The
dry goods houses report hopeful state of al
fairs. The purchases, though perhaps not so
large as in former years, aggregate well, and
the advance in domestics has stimulated buy
ers. The furniture and upholstering dealers
feel greatly encouraged, and are making ex-
tensive preparations for large trade. The
produce and provision men are in very
cheerful mood at the removal of impediments
to transportation. Men engaged in other
branches of business are in quite as happy
frame of mind. The traders of Portland have
certainly substantial reason to congratulate
themselves.