The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-05-29

There il petcePtible drag in business,
and il is now generally conceded that the
result. Of the current six months are
going to disappoint those who expected
to count up handsome profits on the Isl
Of July. And yet there has been dcci
dCd increase in the volume Of business
done thus far this year rs compared with
the same period last year. The New York
PaJlic makes a speciality Of keeping the
run Of the bank clearings Of the princi.
pal cities, and these clearings (for eleven
cities) show an aggregate Of s1,7OI,,
1884 for the three weeks ending
May 10Th, as against SI,6i7,7s7,45V
for the same time last year. We observe
ahnudsome increase in the volume Of
trade at Pittsburgh, equal to lis per
cent, the respective aggregates being
5l3S74,Sl3 as against ST., ,iO5,O7 for the
same time last year. New Orleans shows
the greatest increase over last year. A
gain Of nearly 40 per cent in transactions
for May is a proof which cannot be dis.
pltcl that the policy Of peace works we'll
for the commerce and industry Of Louis.
lana.
lnusmuch a. prices throughout the
country are lower than last year it stands
to reason that the amount Of business, in
order to foot up as it doe, in dollars and
cents, must be greatly increased 4 over
1876. This shows that the country il
consuming hcavily-that the people are
able to buy and do buy as much as here
toforS, in the aggregate, but at greatly re-
ducal prices; and It also shows that over.
production is the proper explanation O
the present low and unremuncralivC
price, for manufactures.
The question il, have we touched boz
tom? win prices go lower? Ills hardl!
reasonable to expect ANY further decline
lpr the reason that good Of all kinds ar,
being made at little or no profit. There
i'a great struggle among manufacturer,
to hold on and continue in the race. One
by one concern drops ont, exhausted
aod done for, and the survival Of
the liLlest goes on among the bal.
anCe. In this way the process ol
business elimination progresses, the only
process, by the way, that can restore
the trade OF the country to natural,
healthy and paying basis. It's slow
and painful process, but, like the grind.
ing of the mills Of the gods, it is exceed.
ingly sure. The failures Of the present
six months have been numerous, and I'M.
I'll the plethora OF overproduction is
further reduced they will continue A.
long as this plethora continues there cat
be no material reaction in prices. Con
cprn, that are merely hanging
an to the verge Of 4olvenCy
will keep the markets dead weishled
with their products. There will be
ot course, a gradual increase in consump
ton by reason OF an increase in popuIn
alton, and by reason Of an increase 0
means among those who get their living
out Of the ground. A big crop this year
sold at present prices, would give tht
country regular boost upward, and the
prospect now is that present prices fol
breads!uiIi will not materially declin,
pending the European war. This Is
promising year for farmers, and ,heil
prosperity means better times for every
body. Meanwhile while thewheat and corr
are growing, aud the eliminating process
IN trade is going on, there is nothing lef
for people generally but to exercise the
virtues of patience and perseverance.