The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-05-20
Business in New York.

Business in New York continues dull,
slow, "tlat, stole and uprofitable." All of
that "ebbipg trade" which thrived and made
muadling or middling class of people in
this city, has gone from here and will no
more return till rents and expenses are re-
duced and men can live ON much less pro-
fits than they can today. The iobbers are
now in all the cities all over the union, all
along the railroads, Albany, Troy, Utica,
Syracuse, Rochester, Buffalo, &C., all the
way from New York to ST. Paul, MINES
ota, and all over the south and west where
they can hire stores for from $500 to 81, 600
per annum, which would cast from so, 900
to $40, 900 in New York, aud clerk hire in
the same proportion. You can buy goods
in any of these cities cheaper than in this,
and the consequence is that that kind Of
trade has left us and we now have only an
importing and local retail mercantile trade
There has, too, grown up here system of
licensed and incorporated gambling boards,
called exchanges, where an outsider has no
more chance than in a faro bank or any
gambling house of that name or nature
The stock exchange heads the list, and
there have been more failures, more broken
fortunes, broken hearts, more widespread
ruin and desolation, brought about by
gambling in stock. than from all other de-
scriptions of gambling in the world. From
every city and from almost every town in
America the telegraph wires bring orders TO
buy or sell stocks on speculation and mar
gin.
Then there is the corn exchange, includ-
ing pork, beef, lard, &C., which get up cor
ners and breaks the weak, and betrays the
unsuspecting; and the cotton exchange,
where men buy and sell every day millions
of dollars worth of cotton, and settle the
difference; men who could not buy and pay
for fifty bales of cotton, and never owned
one-tenth part of that amonnt is not that
gambling?
Then, there is the oil, or petroleum ex-
change, quite as desperate as any of them.
| The butter and cheese exchange, which
rushed up butter last fall without wit or
reason to fifty cents per pound, and are now
selling the same from twenty-five to twen-
ty-five cents per pound, breaking half the
members of that honorable body. The
merchants and builders exchange, where
there is more honesty and less CANNON
and fraud than in all the rest. except, per-
haps, the dog exchange, which is migra-
tory in its character, and honest and truth
full in all its representations. 1t opens at
the stock exchange door in the morning,
passes round the custom house through
William street at l o'clock p. m, is on
hand at the corn exchange at two, and winds
up the day at the liquor dealers exchange
at p, M, where all have free drinks and
go home happy. And then there are all
the gambling houses in this city, and many
of them are conducted with more honor
and honesty than come of the so. called ex-
changes. What do you think of the trade
of New York; All gone but the importers
and retailers and exporters. Is she now
what Venice was? Win she ever be what
Venice is? Is she a vast gambling corpo-
ration where you can buy or sell any haz-
ard or chance? VIII she rise or fall from
this date2 viii the people have sagacity,
wisdom and courage enough to make ship
canals of the Erie and Champlain. and
make New York the centre of commerce
and the mart which shall scatter to all parts
of the country and to all parts of the earth.
the manufactures and harvests OF the world.