The New York herald., 1876-01-15
1874.

II is claimed that though increased pressure is ind
by these figures II has not been specially
astrous in any distinctive line of trade and allowing
for the continued depression in trade generally the
proportion OF failures not considered excessive The
number Of persons now reported in business in the
United States is $50, 000 or this number Z 740 have
failed during the year. indicating proportion of one in
every cighty-two. The figures IN the table from Cali
forna where Business done on gold basis Indicate
that trader in every forty two has ailcd while
Canada with low tariff most admirable banking sys
TEN on a gold foundation and light taxation the
figures are even moro suggestive. the number OF fail
ures having been one in every twcntyeight
Some interesting conclusions may be drawn from the
amount of liabilities To be charged profit and loss
and the effect upon those that in trade The liza
bites of the 774O who failed in 1875 are in round
numbers 5000, 00O From this amount should be
deducted 10 per cent for advance original cost OF
goods sold TO these parties leaving apparent lookup
Of $50 100000 Estimating the average yield of failed
estates TO be 81 Is per cent nder tho operations OF
the new Bankrupt law II will fall far short of that the
will stand Mt about si2J 600 600 This amount is eouy
aen TO the value OF onchaf OF the cotton crop and
more by thirty per cont than tho entire yield oil all the
gold and silver mines OF the country This f20 900 00D
of loss represents a profit at 10 per cent
81, 200 900, 900 of business.
COMPROMISE
In this connection remarked that the system OF
compromising Indebtedness Is open TO great abuse.
The trade Of the South has been dcmorazed by set
Elements with parties unworthy OF confidence. who
while able impose their creditors, undcrscii tho
honest merchants who give dollar for dollar. An ad-
vantage TO the whole business community, II is be-
leved. would be the wedding out OF these unworthy
traders
The cOmpncrS OF thiS circular say they IND IL dill
cult 10 epItOmzc the condition. OF trade the OF
the year While depression and lack OF confidence
noticed in tho East well portion Of the South,
the West has exhibited increased activity and made
larger purchases In these latter sections IL csti-
mated that $3.50 600 900 have been realized for cotton
grain, pork &c, thus stimulating local retail
traffic And better still much more remains TO be
realized the stores Of the past autumn Aside from
sectional Improvement, however, II IS said that in
general values there would be found shrinkagc
eel innate being made. II has been found. however
that during the year just closed the actvc surplus
has been shown be in larger proportion TO the extent
ties than any time previous history. aud Is
possibly IN excess OF that OF any other country in the
world having proportionatc extent OF internal trade
Amer reviewing the OF past disasters
glance Is taken toward the future. The circular
goes on to say :-'Tac nsprtine national event OF tho
Centennial year WILL IL is believed, for time nfuse
considerable activity In some localities great influx
OF visitors from abroad and the necessary circulation
Of money winch Is implied In tho movement OF large
numbers OF population, can hardly fail 20 vi
talze some dropping inicrrsis This temporary I'M
pulse may be taken advantage Of In the progress toward
prosperity. but the hopes OF iuture sound business
Snpcrsructurc mutt rest the basis OF honest hri
and economy lcss nxcl and more floating capital and
closer adjustment ~ values 10 reduced of
ductOn. Prudence in extent Of trade, reduction Of
living and business expenses, lesscncd indebtedness
and close scrutiny OF credits The elements that Will
most help to confidence and bcgct return to
condition OF business which money be made the
resources OF the country developed and success
achieved"