Connecticut western news., 1875-07-30
MERCANTILE FAILURES.
The Enduring Effects of the Panic of 1878. "A Revival of Trade Expeeted.

The Enduring Effects of the Panic or 1913.
 "A Revival of Trade Expected.
 Messrs. Dun, Barlow & Go. have issued circular showing that the business failures during the first six months of ths aarweref3s 3s6T7, amounting to $74,- 947s0ND. < Of this sum-. $14,762shDO IS put down to New York city $5, 712,- 79z to New York State A$1O, ,S53, 800 to Massachlsetts ;g $8,, 8,,743, 445 to1Pennsyl- vania; $3, 1884, to Illinois, and the remainder throughout the other States of the Union.a The circular says
 Compared with this time twelve months ago. there, iss but little if any imprtvemSnt Sperceptible< either m1the volume or proftableness of trade: The effactszof. the panic, or rather of the ex- cesses in business whid1 caused 1t, have lasted longer than was anticipated 1m- mediately after the climax had been reached, and the ,endt1rihg evil results are becoming more and more apParent. These results, however, assume the character more of depression n- than. of disaster, and though; fin the 'elfd;5 the evil may. be. as fatal ill the one ease as in the other, the process is slow enough to allow, constant hopes of recovery, and to 1 permit the operation of all circumstances I that favor it. Thus we have marketed P two good crops of agricultural products since the panic, and the promise is now so, certain of .s another abundant yield Fthat, in ordinary times, 1t would largely 1 stimulate the purchase of goods m an ticf fpatfon of the trade sure to foHow it's lreafization. Again, we have had nearly ktAyos vaars ofzefforts ina tho direction -of Eeconomy. and gghow far this, has ebeen ,practiced is best indicated bythe restrict 1 ed sales of mercandise in all quarters. 1 Of course, this reduced business in mer- Tchandise' is to be largely attributed to I the limited purchasing powert 'of opera ] tiyealand others, dependept upon inter aests, that have languished during these hard times; but aside from these, and in sections Of the country where these I fispecihc influences have not prevailef,i a ! similar arsreductions in business indicates less expenditure for the luxuries, of life.
 The circular contains brief but exhaus- tive Reports from all the chief ,centers ot trade in t1ie country. These reports in dicate much that is encouraging. The oirculM concludes as fellowsa e2e @
 SSWhatever s3 an ~a abundant agricultural product will accomplish toward & resto- ration Of prosperity will eerfainly this year be. contributed. The. pprchasipg pg and debt4paying power of the people in vast sections, of. the, oop ntry will be i'm proved, while considerable activity must be provoked during the autumn m rfe- 1 plonishing the small stocks of rnerchan
 dise held in all hands. Other things than agricultural s.lceess may be ineeded to restore universal prosperity :, 4 Expecta-
 tion founded on that basis has already
 led to disappointment. Bnts whatever
 else may be needed, it seems hardly possible in the mature of things that q
 revival can much longer be delayed
 Every day must bring us nearer to the
 commencement of a better state oi
 things. We have all the elements oi
 wealth at hand, abundant and varied re sources, unrivaled means of transporta tion, a large surplus of unemployed
 capital, we'll tried and successful none
 tary system, and, above all, Q people
 who have experienced far worse condl I tion of things and yet have achieved success. It may be. that the one hun dredth anniversary of the nation vii
 both come and go. before we can ehroni dcle Permanent activity and profit in busi iness; but if no worse comes to us in tho interval than has befallen t1s in the lsi1 months under review, there will bt
 cause for congratulation. The great les tsons of patience and economy, and the practice of such business principles a'
 will equally apply to q poor as we'll n
 a prosperous condition of trade, will a
 1east not have been taught ill vain.