The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1875-07-11
COLUMBIA, S. c.,
Sunday Morning, July II, 1875.

LIE 1OhN4NG 1IDE.-Ouu0T GulS GIL
couraging heading the Nashville Union
and american says Tint SO fnr as the ge-
neral business of the country is con-
ccrned, we notice everywhere indications
of more hopeful fecling-attribute
chiefly to sanguine reports concerning
the condition of tho crops. These PROV
ing true, money will once moro move in
all of its accustomed channels. From
the family of the farmer, who require
their annual supplies, to tho jobber of
merchandise in our great cities, fresh i'm
petus must be given to trade. The coun-
try cannot 60 backward. We have
passed through the ern of collapse, md
are now recuperating. 1t may no. be
process visible to the eye, but silently
and stealthily it is leaving its trail.
The New York Times, of the 5th says,
in its reviews of the situation, that mnny
merchants have this week struck their
balance sheets for the half year, md
have found that matters are better than
they expected. In regard to the great
there is much in the situation that calls
of the Northwest are now rapidly mar
keting the surplus grain left over from
last year, and the grain, after reaching
the lake ports, is being rapidly trans
ported to the East; in evidence of which
may be mentioned tho fact TINT on one
dny recently freight engagements were
made in Chicago for 800, 600 bushels Of
grain for the Atlantic cities.
Crop accounts continue to be of the
most cheering character. In the South
full crop of cotton, sugar and rice will
no doubt be raised, which will do much
toward recuperating the Southern States,
while Mt the West the wheat harvest pro-
misses to be the most abundant for many
years, and other grains promise equally
WE'LL iThe grain crops of Hungary and
Russia are likely to be below the ave-
rage. and the recent floods in Hungary
and France will further reduce the con-
tinental harvests. This makes it pretty
certain that the surplus wheat Of Anne
ricn will 'aIl be wanted Oh the other side
of the Atlantic, and every business man
knows that good export demand for our
cereals; especially with decreasing i'm
portas means better times for the coun-
try at, large. In tho coal regions, the
contest between labor and capital is
over, and labor has succumbed to- the
generAl demand for lower wages. Cheap
labor in country like ours is very i'm
portant, that being great clement of
general prosperity. It is evident that
from this time forward, we hre to rely
upon ourselves for all the iron which we
need in the construction and repair of
railroads and for other purposes; and,
looking still further ahead, it is now
generally conceded that in the future we
will compete with Grent Britain for the
supply to other countries. This is O
very important matter, and has not vet
received that consideration to which it is
properly entitled in estimating the fu-
ture Of the general situation. The annual
increase in the production Of gold and
silver in the United States is yet another
matter, that has to be taken into account
when considering tho prospects of the
country. The Western Territories and
the Pacific States are very rich in gold
and silver and the supply seems to be
almost inexhaustible.
The Now York Express thinks every
thing outside of Wall street bears
brighter look for the future, and it is
really hoped TINT it's forccasting may
prove true. It is certnin that the reports
come up of crops in all sections looking
well, and it seems MS if the country was
to be blessed with abundant hnrvests :;
the remnant of last years grain is being
freely marketed by the farmers; labor in
the West and South is abundant and
can be had much cheaper than formerly,
in consequence of the great decrease in
railroad building. the crops on the con-
tinent of Europe do not look as good as
usual, and England will want our sur
plus grain, and probably other countries
will want some of it; the labor strikes in
fI,o
prospects on the Pacific slope are very
promising, and the general outlook is
extremely favorable for good fail trade.
The energy and enterprise of 10000, 600
of American people, and the great pro-
ductiveness Of the country, are bonnd to
be felt in n new era of prosperity for the
nation, croakers to the contrary not
withstanding. 1t is not worth while,
however, to make too sanguine calcula-
tions in this respect. For many years
past. tho machinery of our national in
dustry had been running at high pres
sure, and had been doing, we'll or i'll, an
immense amount of work, That activity