Connecticut western news., 1876-07-28
THE BUSINESS OUTLOOK.
Failuresfor the First Two Quarters of 1876 , 51. --SOme Interestin& Figures.

THE BUSINESS OUTLOOK. Failures for the First Two Quarters of 1876 . .L.. ;--sOme Interestink Fixtures.
 The figures of failures in business, all over the United States, for the first two quarters of the year 1876, have been for of Messrs. R. G. Dun & Go. The total for tho past six months, as compared with the same period of last year, is far show :, @ ,
 For the first quarter of 1875, number of failures, 1882 amount, $48, ,000, 900 second quarter, number of failures, 1,581 amount, $3S, ,000, 900; six months, $76, ,O0O, ,00O. For 'the first quarter of 1876, number of failures, 2, 1906 amount, $64, 900, 900 i; second quarter, number of failures, 1, 794 ; amount, $4S, 900, 900; six months, number of. failures, 4,600 ; amount, $1O7, ,00O, 900. .. e.
 < This shows startling increase, both in the number of failures and amount of liabilities for the six months just concluded, but attention is drawn to the fact that this increase mainly occurred in the first quarter of the year. Al though the figures for tho three months just closed are somewhat larger than those in the corresponding quarter of 1875, there Is marked decline in the figures for the second quarter of the current year. In other words. the number of failures in the last three months are less in number by one thousand than in the preceding three months of this year, while the liabilities show a decline of $21, ,000, 900, both items showing an improvement of over forty per cent. This variation is great or than ever before in the same period, and happily, in this instance, the varia- tion isi in the right direction. It ap- pears, from the circular before us, that the average liabilities of oh quarter in the past eighteen months are $51,- 900, GOO; so that the liabilities of the quarter just closed ($43, ,000, ,O00) are $8, GOO, 900 less than the average. ..
 From these figures, the agency is in clined to encourage the belief that we have seen the worst effect of the present depression, 30 far as failures are con- cerned. The circular says: a.. . cit is true that business continues ill a very depressed condition; that the re- suits of trade, with rare exceptions, have been exceedingly unsatisfactory that values continue to decline, and that un- certainty and anxiety exist in all quar- ters. Yet in the face of all this, there is comfort in the reflection that the causes which produced this condition of things have been almost completely reversed. In the place of reckless over-trading, we have now lessened sales guided by eau tion, and also prudence iu purchasing. Instead of enormous over production of all descriptions of manufactures, there is now the strongest tendency to limit the product, and thus lessen the possi- bility of still further decline in prices. Vastly increased expenditure on public works has been succeeded by the almost complete cessation of construction. Economy in business and personal ex- penses has taken the place, to 8 very large extent, of extravagance and reck- less hberality, and this very tendency, while it is the cause of restricted busi- ness, Is one of the best signs of an early return of prosperity. So that in all de partments there is evidently change, and such a change as 1t was necessary for the three years of depression to pro- duce, and without which 1t was hopeless to expect revival of business on Ia sound basis. Having reached this con dition, is there not ground for hope that bitter state of things may now pre- vail 2 It would be idle to expect that very marked improvement will be evi- dent in the immediate future. Things have reached too desperate a state to permit such hope. Tho circumstances of an exciting political campaign are not favorable to the growth of confidence, and the return of business to its wonted channels. But the coming autumn will, it is believed, afford hopeful indications for the future. Another year of great productive power has been given to farmers and planters, and the country must be greatly enriched by the realiza- tion of the agricultural wealth with which it now toems. Internal indebted ness is not excessive; stocks of goods in all quarters have seldom been so small; prices have touched point so far below cost of production, that an improvement in value can hardly fail to take place, and it seems impossible that circum- stances could exist more favorable to improve the condition of the legitimate trade of supplying the wants of the peo- pie than now prevail. Speculation, and expanded operations involving large and permanent investments, are not ikelyto receive much encouragement. But there ought to be au increased demand for goods of necessity and merit, and with this should follow better reports of the condition of the various parts of the country than we are now able to pre- sent. The power of absorption by vast people in condition to purchase aAd pay for merchandise is very great; that power has reached its lowest exercise now; yet, as will be seen, we have had less failures in the last three months than for the previous quarter, and the fact that there are many signs of more hopeful condition of business is unde niable."