The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1877-10-09

That our country has been very sick |
financially is only too well known. We
have had what may be called chad |
spelp' of it. From a previous state of
fever, congestive chill suddenly struck
the country in 1873, producing great
prostration and financial debility. Our
financial doctors have all disagreed, as
doctors generally do, about the case, its
nature, cause, and the modes OF cure.
Some were for giving greenback stimu
lants, and some were for giving "gold-
en-" syrup sedatives. Between the two,
nothing essential has, ae yet, been done;
and that has probably been the means Of
saying the patient.
Thrown back Upon its native strength
of constitution for all hopes of recovery, |
every change Of symptoms has been
most anXiously watched to see II any
signs of conyalescence could be discoV-
ered. We think the indications are now
decidedly hopeful for full recovery to
q sound condition of financial health,
equally tree from the delirium of lever
and the weakness OF congestion.
Among these indications are the gen.
eral NANTES tations of the revival of
business activity throughout the coun-
try. From every business center come
cheering announcements OF returning
health to our financial system IN the
STEADY growth of trade and the greater
promptitude of payments. Another of
these indications is found in the abun-
dance Of our agricultural crops of all
kinds. now secured beyond risk by the
farmers of the country from the Lakes
to the Gulf, so as to leave us market.
ing surplus greater than ever before
known to our people. For this surplus,
vast as it is, the world just now is open
Ing its eager hands and gladly offering
Its gold in exchange for food.
The circumstances surrounding the
nations Of the old world happen to be
unusually favorable to our foreign mar
kets for breadstutfs and provisions. The
great Eastern war, both by waste and
consumption, will demand largely OF
such supplies. Though commonly a
great tood-producing country, Russia
will now, by reason Of her war and the
comparative failure of her crops. have
nothing to contribute to the supply OF
Western Europe. She is therefore out
of our way as rival in those markets
and will probably be herself a purchaser
In our own. Moreover, we now learL
that there is very short yield, almost {
failure, in the grain crops OF Western
Europe. England, France and Ger
mapy all suffer a material falling OF
from their usual agricultural supplies
These circumstances combining can
fail to cause an increased demand 10
our abundant surplus.
In addition to these Indications OF i'm
proving financial health, we find an
pther in the fact that our domestic pape
currency has been gradually and stead
lily advancing toward par with gold
until the step between them has becom
mute inconsiderable. To-day our none,
quotations show that there remains bu
.two and half per cent. between green
backs and gold. With that small pei
eentage of difference gradually dimir
Ishing. resumption is virtually close a
hand before us without the interventio
pf any legislation enactments. but sin
nlv In obedience to the irrepealable law
Df trade.
Another indication Of returning final
eial health consists in the very impor
ant fact that we are now, once NOR
exporting to foreign countries more the
we import from them. In plain speec
we are selling more than we buy. "
are consequently living within our i
come, and this is condition OF prospe
lty, whether applied to an individual
Anation of indivlduals.
The panic OF 1873 was the eighth o