The Republican. [volume] (Oakland, Md.) 1877-current, 1877-03-24
-BrighteRing Prospects.

there is every prospect ola general
revival of Spring trade. The cen
tennial year Of the United States was
marked by the most excited politi-
cal contest that the country has ever
seen, and the nation many be con-
graduated upon having emerged
from it not only without the stain of
civil war, but with its finances i'll
good condition and its trade and com
merce on the high road to wealth.
There is not another people on the
face of the globe that could have pas
sed through this fire unscathed, and
the result may justly be taken as
good omen for the future.
AS the curtain now lifts, and we
look about us to see how we stand,
the prospect is most encouraging.
We are already close upon the great
deSideratum of commerce the actu-
al resumption of specie payments.
Gold has reached lower point than
at any time since our fractional paper
currency was first put on the market.
Silver has quietly taken its place as
the medium for small change, with
any disturbance to existing values.
Our Government securities command
high premiums and low rates of in
tereSt and at the same time stand
firm at home and abroad. Even the
cOunting-in ola Republican Presi-
dental candidate has caused no dis
turbance to stocks, and there has not
beeh the slightest symptom Of any
thing like financial panic. 1t is ev-
ident that the misgivingS Of business
men have been set at rest. In the
belief that the policy Of the new Adj
ministration will be conservative,
that no step backward will be taken
on the matter of resumiug specie pay
ments THAT the business affairs of the
country will not be retarded by pO-
litiCal complications our bankers mer-
chants, manufacturers and capitalists
are practically unanimous in looking
for a general revival of trade. To
have reached this declaration of
opinion is a great point gained. The
hard times superinduced by the pam
ic Of 1873 have been prolonged by a
general want Of faith in the countrys,
powers of recuperation. Men haye
talked so gloomily to Que another
that even the boldest operators have
not had heart to embark in any new
enterprises. 1t has needed but the
good strong words Of encouragement
that men are now speaking to one
another in order to change the dull
outlook and set the wheels ofactiv-
ity again in motion
Looking now at the present con-
dition of business affairs in detail we
find that the balance of trade is heav-
lily in our favor. Our exports to for
eign countries are large and steadily
increasing. Not only are we now
sending provisions abroad but con-
siderable quantities of our manufac-
lures, thus competing successfully
with the labor market of Europe.
While such staples as grain cotton
and tobacco continue to be called for
in large quantities shippers of suth
articles as cheese and butter are amaz-
ed at the demand from foreign ports.
Meanwhile the volume of imports is
decreasing. Our people are discover
ing that American cloths prints, car
pets, silks, and other articles of do
nestle make are quite as elegant and
durable as any that Europe can fur
nish. Previous to the panic our man
ufacturing centres had been multi
plying production without regard to
demand and had accumulated an i'm
mense surplus stock of goods. This
has been greatly diminished during
the past three years many factories
and mills having been closed for
long intervals. People meanwhile,
having economical at home. Now
the demand is again growing, and the
faces Of manufacturers are bright
eningat the prospect. Already at the
first signs ola restoration of CONNER
cial confidence, furnace foundries and
mills announce that they are reopen
ing or preparing to run on full time
and the consumption of goods ofevery
description will be- perceptibly in
creased. This will bring capital to
the front looking for Investment.
There has been no dearth Of money
recently but it has been extremely
cautious. Men have preferred to let
their thousands lie idle rather than
invest them where they might read
lily be jeopardized. Now they will
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