Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1876-12-27
The Old Year and the Now.

The sands in the glass Of the centennial
year of this Republic have nearly run out.
The year has been a memorable one all over
the world, but especially so in our own coun
try. 1t opened at a time Of great financial
depression, and this depression has contin-
ued and even become more general and Sc
verer. Still it has not been without varied
kinds Of prosperity. The seasons have been
unusually fine and the crops Of the country
have been unusually large. Some Of them
continue to command as high prices as in
former years. The cotton crop of the coun-
try is larger than for years and meets with
ready sale at advanced prices. The wool
crop has been steadily advancing in price,
though the production has been diminished.
Butter and cheese, wheat and other grains,
have not receded very much so that the pro
ductive interests of the land have been, on
the whole, very prosperous. The manufac-
turing interests have suffered and are still
suffering. The government has gone out of
the market and is no longer buyer of man
ufactured goods to any great extent So
long as it was large buyer it stimulated
manufactures all over the country. Every
form OF manufacturing felt the impulse.
l.aborers and mechanics had constant EN-
ploymeut But when the government ceased
its orders and began to pay its debts, then
stringency came upon all manufacturing
operations. The wheels Of thousands OF
them were stopped by an overproduction
and supply The prices of most mauufac-
tured goods fell at once aud have not yet re-
covered Mechanics aud wofkmen Of all
kinds were sent adrift, and the gaunt images
of penury and starvation began to stalk in
the streets of our large towns and cities.
The effect has not subsidized, nor is it likely
to do so before another spring. In the mean
time buyers can almost make their own terms.
This is the gloomy side Of the business
aspect of the year, yet it was not wholly I'M
expected nor unproyided for.
OF course the real estate of the country
has felt the effect of this financial depres-
sion. 1t was the last to do it, as it had been
the first to feel the advance Of prices. 1t
has been appreciated in value far beyond its
intrinsic worth. Farms, all over the coun-
try, have risen far above any possible return.
Land, city and town lots were quick at
fancy, and almost fabulous prices. Now
they are drug and almost unsuitable The
reaction has been as great as the action, and
the result now is, that the real estate of the
country bears some fair relation to its actual
value. The American habit of buying when
a commodity is at its maximum, and then
selling on falling and depressed market,
has been illustrated in the case of real estate
during the last year, in multtudes of cases.
A little healthful current in business was
created by the Centennial Exhibition. The
railroads and hotels on the line of the great
thoroughiares to Philadelphia reapcd rich
return to be followed, however, by a cores
- pending dullness. Eight millions of people
visited The exhibition, and in the course of
their journey back and forth must have put
into circulation even hundreds of millions of
dollars. But this has been only a local re-
lief. 1t has benefited production, but not
manufactures. The value of the exhibition
financially to the country might be easily
estimated, but its value as an educator of
the people in mechanics and the arts, can
never be estimated. There is, Of course, a
sort of intoxication in sightseeing. But
while the extensive and gorgeous display
hat a hatr Il 80 IA.
spectators, and left them without practical
advantage Of the sight, there were thousand,
who must have found in it stimulus for
future thought, invention and industry. II
certainly has made the year memorable
one to millions of our people
The year has been noteworthy for its po
ltical events. The country has passed
through the torrid heats of Presidential
campaign, only to reach no settled result a;
yet. We are as ignorant now Of who will be
President as we We're last July. The Prcsi
dental question now SINNERS in the Con
gressional caldron. What will be the up
shot Of it it is impossible to predict. Tn,
sequel of this election belongs to the next
year. We trust that there il wisdom anC
patriotism enough in Congress 10 settle the
question fairly, so that whoever is inau
gurated President will be admitted by the
people TO have been fairly entitled TO tn,
office by the ballots Of the people and not by
any legal technicality. 1t would be an un
happy thing il the thin edge OF the wedg,
which is to split republican institution,
should have been inserted into Presidential
rift on this centennial year. It we're thou
sand times better to summon the patriotism
of the country to new sacrifices than thus t.
let all the sacrifices of the past become uu
gatory and useless.
The great religious enterprises OF the ag,
move steadily on in their accustomed grooves
feeling more or less the financial troubles O
the country, but still strong vigorous anC
essentially nembarassed The ORGANIZED
religious charities OF this age are one of it
wonderful things. No age has witnesse,
such development Of Christian beneiicence
When single ins,tution-one OF many
can rely in its appropriations upon the gift
Of its supporters to the amount Of half
million of dollars annually, when the specia
endorsers OF this Institution constitute bu
the smallest fraction OF even the Protestan
churches, we may well stand amazed at Tia
wisdom and faith which organize and carr
forward these great forces of Christian love
We may well rally now 10 their more yigor
Gus support, and do our share toward liftinl
this world out Of its degradation into civil
zation and Christianity. As the years rol
on they call more imperiously on US TO d.
with our might what our hands fluid to d
in the grand work for the enlightenment
aud advancement Of our race The ominou
questions of humanity are solved by tn
progress of Christianity.
We wish, as We approach the portals Of
New Year, as the Christmas bells are ring
ing out their song Of peace and goodwill, VI
might enter upon il with the temple of Janu
shut and the ugly visages of war and it
consequent miseries hidden from the sigh
Of men. But this is forbidden. The tram
OF legions OF men and the laundering Of can
non are heard above the song OF the angels
Russia is moving her forces down on Tn
Moslem. She is taking her position 10 fore
her long cherished ideas OF control OF
the Black Sea. The leading statesmen o
Europe, and even England, look on wit
silence, If not with approval. 1t is clea
that no other power will contest her design,