The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-05-29

to forty per cent In general values, ana
consequently one million Of dollars OF ex-
changes now represent an increase OF thir-
ty or forty per cent. in quantities ex-
changed.
In n word, the condition Of the country
il hcalthy. We have most individually
reached bottom prices, and recent events
would secm.t indicate returning conf
dence and steady progress toward gene
raj revival in all departments OF trade.
The country stores from Name to Florida
have during all this period of depression
been buying sparingly and in small quanti-
ties. The country side Is bare OF goods.
There is scarcely a farmer throughout the
land but stands to-day in need of clothes,
store goods, agricultural implements, and
what not to repair and make whole the
wear and tear of the last two years.
Moreover, the farmer has the where
withal to crafty all his reasonable wants.
Tho agricultural interest was never in n
sounder condition. The crops have been
abundant, and our great staples find
abroad ready markets Mt remunerative
prices Since 1860 American wheat has
been gradually driving Russian wheat out
VI Iut IlluTktlS OI Int lnlltu hlnHuOU1.
In 1869 the total imports of wheat and
tiour-1 cwt. of flour being reckoned rs
equal TO Ia cwt. of wheat In grain-into
the United Kingdom from north and
south Russia was 0,2S7 230 cwt., against
b,70S,916 cwt. In 1874, n decrease OF nearly
| fifty per cent. in Ave years. Meanwhile
| the imports of wheat and flour from the
| United States into the United Kingdom
increased from 15,32O,257 cwt. in 1869 TO
q 0j2 cwt in 1si4 In short, while the
| Russians sent in 1863 nearly two-thirds us
much wheat and -four to the l Iited King
| dom as was sent from the United states, in
| 1874 they sent but little over one-ffth ms
much. These statistics have caused much
alarm in Russia, aud the commerce Of
| Odessa has suffered accordingly.
The signs of the times are abundantly
| encouraging. They seem TO indicate that
| the great commercial aud industrial classes
Of the country have adjusted their bust
ness on an unprecedentedly low scale of
values. They justify the hope that indus
try is learning to produce with living
| profit at present rates.
| One of the most cheering evidences of
| this Is the marked success which attended
the two great auction sales of domestic
| dry goods during the last week. These
sales had been widely advertised, II being
announced that about 6,000 packages, the
| products of mills representing n very con-
siderable portion OF the mill interest OF
the Eastern States, would be positively
sold to the highest bidder. This announce
ment brought together the largest assem-
| hlapa Of Inn f.,
room in this city. They fairly represented
the wholesale and retail dry goods interest
Of the country at large.
The bidding was spirited from the start.
At the Tuesdays sale, so great was the de-
mand that nearly twice the number OF
| packages advertised were sold. 1t had
| been thought that Thursdays sale might
not be successful, coming so soon after the
| first. III anything, 1t went of with even
| more success.
| The receipts from both sales were over
two million I've hundred thousand dollars.
| The bidding was brisk and lively up to
| tue close, and apparently the nuctioncers
| could have sold double the number Of
packages had they had them at their dis
posal AS regards the prices obtained
while they leave but slender profit il Is
enough TO know that they were satisfac-
tory t. the manufacturers.
But the whole transaction has TO us a
wider and deeper significance. This vast
assemblage, gathered from every corner Of
the country-Now York, Boston, Phladel-
| phia, Baltimore, Chicago, New Orleans, st.
| Louis, and san Francisco being largely
| observation-disclosures the best thought,
| intelligence, and energy OF our people IN
connection with the dry goods trade. The
active competition between shrewd mer-
chants and heavy capitalists betokens a
firm conviction that, in spite Of the embar-
easements and disasters still witnessed, the
| general condition of the people is such rs
to permit n steady increase of consump-
| ton.
| 1t shows that those best qualified TO judge,
| believe the era of staguation and depres-
| sion Is past.