Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1877-02-08
The Business Outlook.

Business prosperity, if it comes, will now
be attributed by many to the peculiar settle
ment of the Presidential dispute This will
be unjust, for the country has been steadily
and surely preparing, ever since 1874, and by
the only possible mode, for revival of busi-
ness upon more solid basis. Signs of that
revival were seen in October. Deferred only,
but not prevented. by the political uncertain
t., it would doubtless have appeared, if those
signs did not mislead, as soon as President
had been declared elected in the usual consti-
tutional manner. Nevertheless, we shall re-
joice if the better days come, though they
may be attributed TO an Objectionable meas
ure. And in reading the signs Of the times,
it should not be forgotten that the severe
weather, blockading many roads, interfering
materially with commerce, and checking local
purchases, has done much to cause the dull
ness of business in January. Another cause,
the effect which cannot well be estimated, is
the uncertainty in regard to the continued
peace of Europe. 1t is very generally be-
lieved that war in Europe would greatly stim-
ulate business here That it would cause in
creased demand for breadstuffs, provisions,
and military stores is probable, and rising
and active market in these commodities would
stimulate purchases by farmers and others.
1t is thought, also, by many, that disturbance
in Europe will cause greater immigration to
this country and larger investments of capital
here, which may follow if the contest seems
likely to involve nations of Central and West
ern Europe.
Notwithstanding all the influences tending
to check business activity here, the transac-
tions of January have not been discouraging.
During the last week, indeed, the clearings
were larger than during the corresponding
week last year, $421, ,314, ,346 against $40l,-
7J9, 420, and for four weeks ending Jan. 81
the daily average has been S72, ,052, 900 against
daily average of S74, 357, 900 10 the CORES
ponding date last year. The decrease, only
80, 300, 900, is less than 8 per cent, while the
general decline in prices since January last
would have caused decrease in clearings of
q per cent, if the quantities exchanged had
oSoh WIG oohiO' III 1uonItiCo, tucii, Tue VOf-
ume of business has been larger in January,
1877, than it was in January, 1876 so far as
the traffic centering at New York is concern.
ed, notwithstanding the hesitation caused by
a Presidential dispute and possible war in
Europe, and the retarded movement due &c
unusual severity of weather. The banks arr
sccumulating legal tenders rapidly, as they
should at this season, while the loans are bu
34 per cent lower than at this time last YEAR
This does not indicate greater stagnation O
business, in view of the fact that the chang,
in prices permits the same exchanges to b
!; effected with Z per cent less money. Th
specie average falls below the average of legs
tenders again, but is still $23, ,0O0, 900 aboy
: the average held at this time last year, an,
this Increase is probably due in part to larg
transfer of gold, to be employed for speculs
tive purposes, by leading operators formerl
of San Francisco. The deposits, however
! are only $4,000, 900 larger. In brief, th
Z banks hold an excess of nearly $25. .OOO, 90
/ above legal requirements, while the loans ar
not materially reduced.
i The grain trade does not look well for Ne,
York thus far, the receipts here having, beer