Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1877-08-22
Ru.,p... Prospect. for the Autuun

800
New York Herald.l
There are good grounds for ex-
pecting a better and brisker fall
trade this year than we had last.
The grain crop of the West is re-
ported to be good, the cotton crop
will nearly equal that of 1876, and
there is so much unemployed money
that there will be no lack of bank
accommodation for moving the
harvests. There is likely to be an
unusual display of energy and
promptness in moving the grain
crop of the present year, owing to
the uncertainty which attends mill
tary operations in the East. Should
the war terminate in the latter part
of autumn or the beginning of win
ter whatever grain there may be for
export in Turkey and Southern
Russia will find an outlet, with a
reduction of price in the English
market. Both be~lligerents are fnan.
cially weak, and the credit even of
Russia is at so low an ebb that she
would find great difficulty in con-
tracing loans. With this impedi-
meut to a ~protracted war peace may
become possible by the intervention
of the other powers as soon as Rus
STA shall have wiped cut the dis
credit which has fallen on her arms
in the recent disasters. To be sure,
this is only a possibility, but it is
one of the possibilities which our
business men will take into account.
1t will make them eager to take ad-
vantage of the present high price of.
gain while it lasts, and is likely to
lmpart great activity to the fall
trade. The London Economist Of
August 4th, just received, has elsb-
crate comparative tables of prices,
from which 1t appears that the pres
ent price Of wheat in England is
sixty-four shillings and sixpence
per quarter, while six months ago
the price was only ffty-two shillings
and threepence, and a year ago
forty-eight shillingS and twopence
that is to say, the price of wheat
is thirty-three and one-third per
cent higher than it was a year ago,
which will be a great stimulus to
activity in forwarding the new crop.
The price of cotton is not high,
nor is it likely to be if the war should
continue, food costing so much in
England as to force a curtailment
in other branches of expenditure,
and yet our cotton crop will find a
market, for the ability of the Eng
llsh people TO purchase food de-
ponds on a continuance of the
manufactures which furnish them
employment. Even if the war
should close the price of grain will
be high. The interruption of in.
dustry in the East during the pres
ent summer and the waste and de-
struction wrought by colossal
armies will leave little grain To he
exported by our chief rivals. while
the terrible famine which prevails
in India will interrupt the supply
OF rice, which is a partial substi-
tute for other cereals. With abund-
ant crops, good markets and strong
motives for fastening ~transporta-
ton there is an excellent prospect
of an active business season during
the coming autumn. Our railroads
and our merchants will share the
prosperity of the farmers. The
country dealers will be likely TO
make large purchases of goods.
because their customers will have
greater ability to buy than during
the last three or four years. In
most branches of merchandise
prices will be low and business be
done at small profits. But we NAV
reasonably expect a pretty active
fall trade on a sound, healthy basis:
and if congress does its duty at the
approaching session the fall trade
will be the precursor of steady i'm
proyement in the business situa.
ton.