, 1875-01-01

We congratulate the people or ChicaBo
upon tho wonderful exhibit of the business
Of 1874, which wo present this morning
The record is indeed a most gratifying one.
Tho hand Of misfortune Inns been heavy !
upon this city. Fire md Panic havo done
their worst to destroy Chicago; but Chicago, |
bravcly contenling, has triumphed over both.
Crushed and depressed by the great calamity
Of 1871. it las been severe tax on the ener-
cies and tho resources Of our people to re-
store the waste places, and reconstruct their
stores, mills, warehouses, shops, and dwell
inps. Tho hundred and moro millions OF
dollars of invested capital which vanished IN
smoke md ashes had to be supplied at heavy
cost, Hardly had Chicago been rebuilt,
hardly had her trade and commerce, her
/ merchants and manufacturers fairly resumed
| business, when there came tho hartlly less
destructive financial panic. Though this
panic was general, it was none the
loss severe in Chicago; indeed, 1t was
even moro oppressive here because Of the
previous terrible destruction Of property by
tho fire. In tho general crash, business in
Chicago went down rs 1t went down else
where, But, through the general gloom and
lcspondoncy, the light OF returning trade
first broke in Chicago. Though the world
might do without oil else, it must hayo broad,
and to Chicago began the flow Of money to
purchase bread nnd provisions. Even before
Now York had recovered sufficiently to enable
her banks to resume their usual business, the
banks of this city had Discarded all tempora-
~ expedients and wero In full operation.
, l vi 33enu
branches Of business wera suspended parma.
pentiy and others temporarily; the long
winter md tho want Of employment bore
heavily on many, but through it oil Chicago
was progressing more hopefully than perhaps
ouy other city III tho country. Tleyear 1877.
has lust closed, md the record o
our trade and production presents tn
remarkable fact Of general incroas
over that OF preceding years. i
= comparing this exhibit It must 10 borne il
= mind that the business Of 1879 and Of tn
- - first half Of 1913 was greatIy stimulated b
!, the work Of repairing the effects OF the til
Of the preceding year. Nevertheless, tesplt
- all this, and despite the panic, despite til
~ hue and cry ngainst tho safety OF tho city IN
. the tlamago by withdrawal OF tho 1nsurans
=, Boards, Chicago has IN 1874 maintained II
>, =, large volume OF her trade Of previous year
- - and shows pertnanency and stability whle
so bid defiance to calamity, no matter VIII
:. form it takes. From the mass Of detail v
T.. select some Of the items.
~ ~ Ths total business, In produce, wholesa
- and manufactures, excluding all second sale
Z, q was valued at $es9, ,ooo, ,ooo agninst s5ot
a4 4 oouo in 1s7s,-a gain, despite Of oil thing
'ut including Bhrinkage OF values, Of sas,oo
~, ", o0ol In 1879 the business aggregated S4e
~ 5000, when values were inflated, I
~ aggregate receipts Of grain In 1874 VI
~ Of, ,2os, 900 bushels, against o8.o35, AS bush
~" in 1878, there being m increase in tx
and wheat, and falling OF In corn and o.
en-. The receipts OF butter, wool, hides, see
,iet potatoes. coal, cotton, tobacco,-sA sho7
.85 handsome increase. ....
sas Tho grocery trade, exclusively wholes!
100 reached S70,O0o,ooo: that Of tobacco !
,sts cigars, GO, ,oo0, ZOO. The dry gooda tr
500 exceeds 4so, poo,-ths price Of 60