The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-06-29
From Chicago Evening Journal,
The Dull Tines.

The times continue "dull. stale and I'M
profitable" There is no use trying to dis
guise this fact. The capital and business
genius of the country are comparatively in
a state of rest-as now for nearly two
years they have been-waiting for the
wheels of the machinery of industry and
commerce to resume their normal activity.
Legitimate trade is sluggish, speculation
dormant, and capital apprehensive. There
is plenty of money, but it is not in the
hands OF the people, and until it shall find
its way out of the bank-vaults and into the
channels of commerce, and thus into gene
raj circulation, the dull times will continue.
When or how this is to be accomplished, is
the great problem of the hour.
AS regards the general financial and bus
mess situation, the west is better off than
the east and the south, and, on the whole,
America is full as well off as most of the
European countries but all parts of the
country, and nearly all parts of the world,
are feeling the effects of commercial.
stagnation which appears to be UNIVERSAL
This universally and simultaneousness of
the "hard times" is, in chief measure, due
to the fact that all parts of the country and
the world have, during the past decade,
become more unified or interdependent in
their commercial interests, relations and
sympathies than they were formerly, and,
therefore, any serious disturbance in the
financial or commercial affairs of one sec
ton of the country or in one part
of the world is felt more or less
perceptibly in all the other parts.
The effect is the same as that of a
tidal wave, which, originating in
local convulsion in mid ocean, moves on.
ward in every direction until it spends its
| force on the farthest shores. And, like
the effects of the tidal-wave, the disturb.
| ance occasioned TO the worlds financial
and commercial affairs by visitation OF
"hard times" must necessarily be tempo.
rary. The present commercial stagnation
cannot, from the very nature of things,
be resumption of the trade activities.
eviable. The first thing must be resto.
ration of tho confidence, and that can be
effected by evidences of security and profit
to capital invested and labor employed
| Of continued agricultural prosperity,
which is the basis of our country material
progress, there is now fair promise. With
this promise realized by another abundant
harvest, followed by remunerative de.
mand for breadstuffs, trade and commerce
will be gradually stimulated to increased
activity, and then the manufacturing inter.
ests will speedily be put in full motion
again, and that will be the end of our long
agony of business depression.
Owing to the almost utter failure oil
spring weather this year, the usual spring
trade has been virtually minus quantity
and the unusual inclemency of the sum.
mer thus far is having depressing effect
The merchant now sees but little t.
encourage him to anticipate goot
business before the opening of the fal
. trade then, if the crops shall turn ou
well, he will, in all human probability, set
the welcome dawning of better times. Ant
we predict that when the country once
shall have fairly reached the point where
it can feel assured that "the worst is over,
1t will enter upon one of the grandest era
of prosperity that has ever marked its com
merclal or industrial history. 1t will b,
like the Enchanting of Gagged lion, whit
has been physically weakened but not con
quered in spirit, or like the liberation of al
imprisoned Samson. whose incarceration
may have whitened but failed to destroy
the locks of his wondrous strength.