The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1877-04-05
The Business Revival"

The - business Revival
The business revival don't appear.
1t was expected TO follow the adjust
ment of the Presidency, bat we haye
merely got Hayes and trade is as stag
nant as ever. Nor does there seem to
be any immediate prospect of revival.
The spring trade everywhere opens
dull and sluggish. 1t may be true,and
if close economy and general shrink
age of values is any gauge, it is true
that the material interests of the
country are working into shape, but
this may be good ways from active
and prosperous business. The proba-
ton of hard times and dull trade is an
exceedingly protracted one. The
closest economy in consumption is no
longer trancient impulse but has be-
come the settled habit of the people.
We presume it is not wide of the mark
to say that everybody is producing
everything that he can market, doing
it on the smallest margin of profit, and
buying only what is absolutely neces-
sary. This implies falling to pieces in
everything labor, merchandise and
manufactures 1t is hard for business
to pick up when extreme prudence
and timidity guards every pocketbook
economy to the verge of mean
ness is in danger of becoming the
grand national characteristic.
All calculations based on the decline
of the gold premium and large ball
ance of foreign trade in our favor, as
the sure precursors of returning pros
perity. have proved as valueless as the
Hayes indicator. Gold is down al
most to par with paper, our foreign
over the preceding year of sixty mill
lions, aud there was a balance of trade
in our favor last year running to two
hundred millions of dollars, And yet
the pressure don't let up. Can it be,
as we heard it gravely suggested the
other day, that the harping of the
Democratic papers on the theft of the
blocks the wheels of trade
and destroys confidence between man
and man.
As to the decline in the gold premi-
um indicating a revival in business, a
strong financial writer i'll the NORTH
american ReUieY, (Mr. j. S. Moore,
the "Parsee" of the World), argues
that the decline should not lead us into /
a deceptive dream for any sudden re-
vival in Europe will prove rude
Here is the argument:
s'The reason why gold is -. or 5a4
is because our whole trade |
s paralyzed. The import trade has
fallen of, from S503, I52 .93G, exclusive !
Of bullion in 1875, to S126, 1856, ex-
elusive of bullion in 1876, falling off
Of S76,375,9G0. The manufacturers do |
erial, such as wool, metals, hides and
many other articles, while the people
lse.less sugar, coffee, and many other
as well as luXurics, both
domestic and imported. In
ID by q war cloud, and Great Britain
laving had bad harvest, our bread
tufts are in demand, and, as bills can
lot be sold, gold has come over from
europe in great quantities. Hence,
,old is so low but the moment trade
evives, and an impulse is given to
our imports will increase,
he floariDg gold will be needed for
luiies and the bills in payment for for
ign goods. Thus gold will go up.
If other peoples misfortunes are n
we have it in the fact that
a Germany, France and Great Britain
usiness is fully as PROSTATE as il is
nth us, and in Germany in much
1ore deplorable condition. The
'rench lnilliards have shipwrecked the
Dutchman. THE gold
is not likely to be advanced
Y any sudden business awakening in
,urope. Confidence is plant of slow
rowth, and this is the story in its
riefest form, of the promised busi-
ess revival.-[P Pittsburgh Post.