Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-06-15
THE COUNTRY's BUSINESS PROS.
PECTS.

THE COUNFRY'S BUSINESS PROS.
PECTS.
When doctors disagree, who shall de-
eide? 1t is tough question, and ap-
plies quite as well to trade and finance
as to the dogmas of the learned pro-
LESSONS. The conflict of opinion on
the business prospects of the country,
even among persons who have devoted
themselves to the exclusive observation
of its past and present development,
and its causes. is very remarkable.
There are those whose long connection
with every branch of commerce in the
United States, and the facilities they
possess of acquiring information,
would warrant their utterances being
taken for incontestible truths but for
the unfortune antagorism that charac.
terizes their statements. One declares
the future to be hattering In the ex-
IRENE; the other says it never looked
gIoomier; and both offer reasons given
by their correspondents In every coun-
ty Of every State in the Union. If we
are to judge, however, from ,the report
of an interview between a Ne10 York
Times representative and the heads of
two leading commercial agencies, given
in Saturdays issue of that paper, the
hopeful persons are more exact in the
citation of their authorities, and, on
this account, greater weight attaches to
their views.
We present, first, the substance of
what Mr.. McKillop, of McKIllop &
Sprague's Commercial Agency, said to
the Times interviewer. Starting out
with the statement that the condition
of business during the past five months
of 1875, has been better, in the aggre-
gate, than for the same period last
year, he remarked that in the begin
ming of 1874 the effects of the heavy
failures and panic of 1873 were still
sorely felt, distrust continued, and
many houses, some of which afterward
failed, we're under extension. This,
and the general depreciation of values,
made the first six months of 1874 gen.
orally improbable to merchants. The
second part of the year saw marked
improvement IN many lines of business,
which yielded profitable return. The
footings of books might Jamestown
a diminished aggregate In many IN
stances, but, as in some lines prices
were down to ante beIll,m rates, the
amount of sales compared unfavorably
with the quantity actually sold. There
could be no doubt that liquidation had
been much more general than was GUS
tomary, which accounted for the cheap
ness of money in 1874, and economy
had also been practiced to an unusual
extent. Still, taking into cOnsidera-
ton the reduction of values, indebted
ness and the amount economical with
the good crops of the year, this year
opened with the country in a sound
condition, commercially speaking. The
Southern States, though suffering Sc
verely in some portions, had doEe well
on the whole, and the West, too, was
by no means In such a feverishly
speculative mood as it was won't TO be.
Through the continuance Of liquidation
and economy the volume of business
throughout the country had not been
so large up to the close Of last week as
had been generally anticipated. 1t was
fair, though, and gave no grounds for
serious apprehension. In the city of
New York business had not been as
great as had been expected, but 1t was
in an undeniably healt y condition and
yielded a fair average profit to its con-
ductors. Beside the causes above
named for the seeming slugglishness of
trade, there was the undoubted indis-
position on the part of merchants to
keep anything ike heavy stocks on
hand. For these same reasons
the volume of business in in
terror cities had increased, so that
many Of them had undoubtedly
done a larger trade this spring than
in any of the previous years for long
period. Merchants from the interior
had made their purchases Of goods in
the cities nearer to them than the great
of trade. At the same time it
must be admitted that the business of
the country at large was suffering from
high tariff, cheap money, the disorgan-
lied state of monetary affairs, and
costly labor. Merchandise was, gene
rally speaking, as cheap as it was in
1860; but the price of labor and high
rents operated against the consumer,
and lessened the demand or ability to
purchase what was needed by many.
Returning to his review of the con-
ditions of trade or commerce IN the
different sections Of the United States,
Mr.. McKillop stated that from the
Canadian line south to New York mer.
chants had transacted a fair average
business, excepting perhaps the lumber
men and those dependent on them. In
the East, manufacturing had been
dull. Stocks we're too heavy and
prices too low to induce heavy opera
lions. The effect Of this was felt most |
in Boston, nd WAS visible in the very
large number of first-class stores to let |
in that city. The West had probably
been the healthiest and most vigorous
business section during the last six
months, and money must have been
made in large sums by merchants in the !
interior. Should, therefore, the coming
harvest prove good, the West would |
be rich, and its best anticipations real
lied. In the South the commercial !
public were not yet ont of danger, and |
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