The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-12-31
The Condition of Busincss.

Thouah people have been for two years
now prophcsying and anticipating the inn
provement of business, yet trade still con-
tinues unsatisfactory. The situation IL
NOT alarnf ". nor is the prospect very
gloomy. But there are many failures, and
merchants ind that they must content
themselves with smaller percentage Of
gain than that to which they have grown
accustomed, and with reference to which
they had fixed their scale OF expenses at
home and in the warehouse.
This condition OF things is likely to be
permanent. Even though tho volume of
business increase, rs IL surely will, the mer-
chant must he prepared to accept a much
reduced rate of profit as Compared with
that of the ten years previous to 1872. Ii
therefore will require greater skill. more
prudence, wiser execution, to successfully
conduct a large business, than in those
golden years when even the careless, ex-
travagant reckless, and rash could not
escape making money SO long as they had
anything to sell. 1t Is the keeping OF
money, the wise disposition Of 1t. that in
dicates business capacity, rather than the
mere faculty of making IL when the oppor-
tunities are abundant. If one-tenth part
of the men who made fortunes between
1851 and 1871 had had real business pru-
dence, sound, practical heads, GOODNESS,
and sclf-control, the number OF our pros
porous citizens would be many times what
Il now is. They lacked those nccessai y
qualities, so far as the keeping of money is
concerned. and the result Is that they now
must pay tribute to those who had them
and used them in preserving rather than
In hazardirg.
A correspondent Of the Nation presents
facts and figures to show that business is
not improving. The iron business, one of
the greatest industries Of the country, has
not been profitable during the years fur
naces and foundrics are closed i'm large
numbers, and only those run which are
favorably situated for cheap production.
In lumber the manufactures has actually
lost in 1875. In woollen and cotton manu-
features prices have declined seriously.
amounting in the case of cotton goods Ia
from ten 10 twenty per cent. Mills are
closed In many places The circulars OF
the large dry goods manufacturers show
that very nearly all their stock Is for sale
now al lower prices than year ago OF
the 1884 failures with liabilities Of sl3l.
i725O3, I'm with liabilities of S54.32s 81
occurred in the third three months of the
yeaI-an excess of about 200 failures and
o2O, 600 900 liabilities over the second three
months. The number OF failures has
steadily increased; 1850 in 1872. ass in
1873, 4,3,l In 1874, and 1854 in 1871 taking
nine months of the year.
These facts are certainly significant, but
they indicate rather tho economy of the
people than an actually unhealthy coudi.
tion OF trade. The number OF failures
shows only how far the shrinkage in
values has affected houses which wer,
Doing more business than their capita
Justified. Though the private calamity !,
great in such cases, yet the public really
gains by the disaster which attends sucl
week.-mrs.. The houses that stand al,
strengthened, and premium is put OF
conservative business management. TIL
wedding out process viii do good, and de
crease the hazards which always accom-
pany extended credit. This salutary effec
will continue until business again gets int
speculative channels. when the failure
will again increase, and more wedding GU
will have 10 be done.
The most serious outlook Is in manufac
turing. The condition of our manufacture
- whole is not encouraging, although
they are much nearer hard pan than the.
have been for years. They cannot lon
temain in their present stagnant situation
ana the greater economy which now gov
erns the mana cement OF the factories en-
ebles them to produce fabrics at nearly a
low rate as they did before the war, an
get save Il fair margin Of profit.
What the people of the country, who al
themselves SO closely economizing, deman
az the Government, is that a like rigi
economy shall control its expenditure
Expenses-municipal, State, and nations
must everywhere be brought down I
the lowest attainable figure. The part
chat does this will get the suffrages Of I'll
people, In spite Of GRANTS Anti-Catholi
third-term movement and all his othC
eohemes for his own reflection. ReduC
che expenses, reduce the taxes, stop ii
stealing those are the demands.
"Sylph.D