The Portland daily press., 1876-10-14

more cheerful prospect this revelation of a
portion of our most recent commercial history
might well be disheartening. But, notwith-
standing these depressing figures, which it IS
the duty of the Agency to make public, it does
not fail to discriminate in very clear and able
manner between what is discouraging in their
statistics, and what are the indications of an
improved condition of trade. The following is
an extract:
ALLOWING for the exaggeration with which
the first signs of revival would naturally be
enlarged upon, it is undenable that in several
OF the great staples of business there is ncreas-
ed activity, with an improvement in values,
sufficient to encourage the hope of profit Con-
sequent upon these Indications the re is eyery-
where apparent decided increase in conf
dence, and this most essential element toward
the return OF prosperity is very perceptiby
gaining ground. 1t remains to be seen whether
the gain in confidence is justified by the extent
of the real and actual improvement in business,
or how much of the improved feeling is to be
attributed to the wish that is father to the
thought"
As to the condition Of the commercial COM
munity, in relation to which the Agency may
be, BY its position, presumed to be well posted,
the circular goes on to say:
''There is not only good deal to show we are
nearer prosperous condition, but there are
many proofs that the heightened depression has
not produced general exhaustion. The healthy
constitution of the commercial organization
remains unimpaired, and it can we'll afford to
wait for the fulflment of the better promise
that now dawns. We have suffered, it is true,
but not organically; and therefore it may be
fairly hoped that when the better times at last
arrive the trade of the country will be found in
a healthy condition, with the additional advan-
tage of many lessons from the period of ad.
versty through which it has passed The vast
majority of our merchants and manufacturers,
though they have suffered heavily, have sus-
tanned themselves in spite of the altered condi-
ton of business, and the general stagnation of
trade. The power of resisting the continued
strain has been the hopeful feature of the past,
indications, be they ever so slight, of improve
ment. Meanwhile, Notwithstanding the re-
verses OF those in trade, the great bulk of
producers in agricultural regions have pros
pered. This vast body, upon whose prosperity
must be based that of all others in this country,
have been exceptionally favored. Good crops,
bringing good prices, cheap freights, reduced
cost of labor, and lower prices for all supplies,
have largely increased their purchasing power,
and placed them in position comparatively
Independent of the adverse circumstances pre-
vailing in other classes"
The circular concludes with caution pru-
dent merchants and bankers will not be slow
to appreciate:
1.-THE improvement in business noticeable
within the past month may be regarded as the
first feeble lntimation of this change 1t would
be unsafe to rely, however, too implicitly on
the expectation that the hard times are nearly
over. The squirt in trade, which some term
the activity of September, is not likely to be
followed by continuous revival throughout
the autumn and winter. On the contrary,
there is handy possibility that the immedi-
ate future can be fruitful Of much advance.
The season of the year, the expenditure of the
masses travelling to and from the Centennial
EXpos ton, the circulation of money for the
movement OF the crops, cheap transportation
and other circumstances. have been favorable
to an improved business thus far in the season,
notwithstanding the political excitement incl
dental to Presidential year. These favoring
conditions will hardly prevail to the same ex-
tent throughout the current quarter. 1t will
therefore not do to take the results of the past
thirty days as the harbnger of the next ninety.
Still, the conclusion is universal that the tide
which leads on to fortune' has turned and that
the future will witness steady though grad
ual improvement in numerous business inter-
ests hitherto depressed and proftess."
In Maine the failures during the last quarter
have been 80, against So the second quarter and
40 the first; total for the nine months 113 with
liabilities of S1,5l1, $50, against 80 with liabil-
tiles of 1904 in the first nine months of 1875
THE CENTENNIAL V1Ews.-The matinee
this afternoon will bring oat large audience
at Music Hall to see the fine views of the Phil
adelphia exhibition. There will be large at
tendance of school children. Mr.. Maynard
has given Mr.. Hunt, the School Superntend-
emit, two hundred tickets to be distributed
among those scholars who are unable to pay
the small admission fee.
There was a crowded house last evening
The views were brought out with great dis
tinctness, especially those of the Bryant and
Century vases. Mr.. Maynard has yielded to a
generally expressed desire and will continue
| his exhibition through next week. Tomorrow
evening he will give temperance lecture at
Music Hall, illustrated by views taken from
"Ten Nights in Bar-Room." The allegories
emo Cross No Grown" and others will also be
exhibited. The lecture is highly spoken oil
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