Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-08-12
THE BUSINESS OUTLOOK.

THE BUSINESS OUTLOOK.
There can be no question that
more hopeful feeling prevails among
business men," Suchis the gratifying
verdict Of the United States Economist,
and it would be difficult to name an au-
thority more representative or carrying
more weight in commercial circles.
The calculations of improved business
are based in the fist place on the
favorable condition of our crops, which,
after all drawbacks for injuries by the
rain, viii still afford a large surplus for
expectation. 1t IS also believed that
the demand for expectation viii be
uniform and steady. There is a steady
forward delivery, which leaves shippers
no reason to complain and all the
steamers and sailing vessels leaving
New York for Europe during the last
few weeks have been fully laden with
grain and general produce, the move
ment not being limited to English ports,
but also including continental ports.
Similar activity prevails at Philadelphia
and Baltimore.
All this, of course, is very far
from the prosperity that is de-
sired by commercial men, but
it is important as indicating a return
Of business activity on a solid basis.
1t has long been apparent that bust
ness recovery must proceed from the i'm
provement IN the foreign trade based
upon large crop. exports from the West
and South. Improvement in the Mid
die and New England States would
come last of all, their products being
chiefly manufactures, which depend
for a sale on the prosperity of the
other States. 1t is now quite certain
that both the South and West will
have a large surplus of cotton, wheat
and general produce for expectation,
all of which viii be in immediate de-
mand for European consumption. The
injuries to crops will produce the effect
Of maintaining prices and preventing
the reduction that might otherwise
take place. Whether OF not American
holders can gain by keeping back
their breadstuffs for higher prices,
is q delicate and perhaps dangerous
problem. The Economist holds that
the European deficiency is not larger
than can be supplied by other sources
beside the United States, and the
chances are that while waiting for i'm
proved rates, the entire trade may be
lost.
In nearly all parts of the West and
South there is a marked scarcity of all
kinds of goods in the general line.
The principle articles in demand are
tea, coffee, molasses, sugar, etc; and
for these, orders are going to New York
for a large amount. OF clothing, dry
goods, and fancy notions there is al
most a total dearth in the the country
stores. In case Of any demand for
these classes of goods the New Eng !
land manufacturers viii Immediately |
feel the effects. These are some Of TIE !
grounds on which q continued improve. |
ment IN business is confidently ex-
pected, and certainly they appear suf- !
fciently reasonable to warrant the in
proved feeling which undoubtedly pre-
walls among business men at the CON-
mercial centers.
The fears that the Western and |
Southern inurdations would destroy |
the promise Of the fall trade may now
be safely dismissed. 1t now looks as
if there were to be an abatement Of /
the excessive moisture Of the last few
weeks. August is proverbially a dry |
month, and under the favorable turn 1
now apparent it may prove that the
inuBdations, after all, were not an IN
mitigated disaster. There can be no
question thai the damages we're greatly |
exaggerated. This is almost invariably
the case. A year and a half ago a
spring fresbet placed large portion of
the lower Mississippi region under
water. It was believed that the coun-
try was ruined, and subscriptions were
started for the relief Of the sufferers.
But her the waters subsidized 1t was
found that the land was 80 enriched by
the alluyial deposits that the sugar
and cstton crops attained a luxuriance
never before known. The ground was
permanently enriched, and now consti-
tutes the richest portion Of Louisiana
and Mississippi. /
OF course, the conditions preclude
similar favorable results from the re-
cent floods, but there Is reason to be-
liove that while some districts suffered
severely, yet the country at large was
by no means reduced to the ruinous
condition represented In some quarters.
A month ago, the whole State Of
Georgia was Parched by drought. a
week ago it was ruined by the cease
less rain, and now the news is that il
presents a vast landscape Of green aud
golden verdure. The water line did
not reaca far enough North to iniure
the spring wheat, and the damages to
crops in other sections was much less
serious than was supposed. Individual
farmers and others may lose severely,
and there can be no doubt the low Land
crops have been rather badly damaged.
But these losses arc more t6au balanced
by improvements in the high land j
crops. !
SECRETARY DELANO'S Investigating
Commission did not inspire a great
deal Of confidence during It's stay in
Omaha. The Bee Of that city says it