The morning star and Catholic messenger., 1875-10-03
Prospects Of tbs Fali'Tr1ds.
iNew. re,E Herald Sept. III

fourd detailed account OF the condition
aud prospects of this important branch of
trade, complied from tue statements of
leading business honses TO the reporters of
the Herald
The iuqniries thus made within few
days show an extremely satisfactory condi-
ton of trade. The fall business doing 10y
! the Wholesale dry goods merchants is un-
expectedly large. Several of the leading z
hooses express their surprise at it's extent,
aud say that trade has not been so good
for five years past But it is not only that
there is a livelier deJnsrd and that buyers
are more NUMEROUS. The most crafty 10 g
feature OF this revival of business is that
according to the general testimony, the
merchants from the interior who have
come here to lay in their stocks are very
careful and prudent purchasers. They have
made their payments for spring purchases
with unusual promptuess. The losses by
bad debts are rihing and much less than for
eqGal periods during some years past
There is evidence that stocks of goods in
the country are low, and buyers are taking
advantage OF low prices to lay in new sup-
plies. The business appears in all its fea
tCres to be in a healthy condition, aud the
more prudent and conservative houses be-
gin to believe that there is a real and &C.
tive revivel of trade, which means, of
with an ability to pay for goods.
Lower prices have no doubt their share
in this revival of trade, but il seems to be
special feature of the fall business that
the country merchants are selecting their
stocks with unusual care. The desire for
economy evidently continues in the coun-
try, and instead of buying wildly, as in
some years, and taking the risk OF being
able to sell and to make their settlements
at the proper time, they now buy eau
tiousy, expect to pay promptly and ask
| for bat moderate credits. All this is very
satisfactory. 1t argues precisely such a
return tow ard prosperity as will put Us on
sound basis.
We are evidently past tie period Of in
fiated prices the country has settled down
to a lower range products and incomes
have begun to square with each other; and
it is curious sign of the course of our
business and production under lower prices
that our export of cotton manufactures to
China has considerably more than doubled
during the past year. 1t amounted in 1874
to S2le,9S6, and for the present year to
$552. 444, according to an official report
which we print elsewhere. or course even
thu larger sum is but a trifle, for China
imports yearly not less than forty five
millions dollars worth of cotton goods,
almost entirely from Great Britain. But it
is satisfactory to see even a slight evidence
that come of our products are once M ore
finding markets abroad in increasing guam
titles.
TIE country is not rich enough to be
extravagant, but it is to day undoubtedly
richer than il was in 1872, when everybody
| thought himself fortunate. The people
since then have saved, have paid off more
or less debt, and North and South, East
and West, are to day in a sounder condi-
ton than perhaps at any time since the
war.
1t is true that confidence is still dis
turbed capital remains timid, not only
because of the losses of 1873, but because
| of the political uncertainties. The greater
and more conspicuous industries are still
sutferIug. The iaborers in iron, coal, lum-
Der !; the operatives of the cotton and wool
Len mills are, to some extent, unemploy ed.
| But an examination of the multitude of
! minor industries, especially in the West
will show any one that, in tie main, there
| ia q reasonable activity ard prosperity.
| The farmers of the West and the planters
OF the South will this year almost certainly
! receive satisfactory prices for abundant
crops, and these two classes are not deeply
in debt just now. When they have sold
their crops most of them will have money
in their pockets; they will be able to buy
supplies, to employ mechanics, to make
improvements. That is to say, the coun-
try is beginning once more to have Q sur
plus over its bare living expenses, aud that
means u revival of industry and trade
It would set us much more rapidly ahead
If only we had a sound currercy If, that is
to say, one dollar had a fixed ard peruna-
nent value. In that case there would be
no disposition to hoard the accommodations
Of the year; money would not lie idle in
tho banks; it's owners everywhere would
be ready to uss it, and with reasonable
reforms in taxation we might, at the pre-
sent prices OF production, he able to sell
our surplus manufactures in foreign mar
kets. Whenever We can do that there
Wiii be 10 unemployed people in the Uni
ted Siates. Aod il 10 because an irredeem-
able and fuctuatiny currency has deprived
us OF the ability to sell our surplus manu-
factnEes prottabiy IN the worlds markets
that we have seen go long glut in these
PToductz, so many operatives ont of en-
ptoyDent, so general a staguatioU, in spie
OF good crops for several years.
iSsw Tssk weld Sept 81
Upon tie whole the outlook is most graft
fyipG for a besitby revival OF trade through
out tie countTy-Bot such forced activity as
would lead to Wild speculation, OTsT-tTad-
ing and extavagance-but a regular,