New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-01-20


Liabilities in 1876 notwithstanding the increase in the
number failures, show dInIuuon. and the average
amount Of indebtedness last year in each failure Is much
lower than for many years previous
The following additional extracts taken from the
circular:
country the financial pressure has been the most severe,
and with that view the following table Is presented:
business faii4Tes q faiiaTs. liag.iiIies;
MewEPcand States 5755s dS S54 . S5s23 S
Western States. 225,509 3,I39 in ~ 52,s70,5H
southom States. 8ad49 l56d IN "a 25'0s3'36 100
c caSnf a.es... 5000 17$s in 81 255i79Si
An examination of the above table confirms the n-
preston which has been very general that trade in the
Western and Southern states has been less disastrous
nidcant circumstance that the failures IN the Middle
States in every 81 rames reported IN business
while in the Western states the proportion Is one ID every
- smIarison between the East and the south
ITS wealth and sohdlty one IN every ~ ts yeGed 10
The pressure Of the times; while i'll the south with oil
its poverty, its political and other disabilities the per
centaEe OF failures II Ohil one ia every Oh EVen IN
Canada where there gold basis, Hight taxation, free
$50 ~ ato,-a in6{cofivn ranch
conditions, the above showing - InulcatI,G W i;icn
greater pressure Than an the United States the failures
in the Dominion being one III every 81 III England 10
very accurate figures are obtangDe ana none OF course
yet for the past year, Out for 1879 return was made
Indicating one failure for every SO firms reported in bust
ness with liability OF $3.50. The hgures
the United States showing failure OF one IN every
g. with az average liability of $2l 900, indicate that
pressure of the times has been either not 50 great IN
n Wend he unfair to conclude that the trade OF the
country is in uRprOnlslng CONDITION because the
failures snow marked increase. Wider view Woulu
ncluCe many circst anccs that would bring more com
fort For instance it is undenabe that the past year
witnessed marked Improvement IN the values OF
many leading staples as compared Win so Ine
prices reached par-and in cases below 1t
but II was aetied CONVICTION that the stocE Oh goods
10 al hands the had reached the lowest
possible point. Production warned by previous losses,
had been regulated to the extent OF positive wants ana
I tn
Innished Thus barely tic half OF 1876 reached
%e1 a 1e 1 mpr0ved condition 81 bsne1 That
this improvement did take place in september aud Octo
Der was every " here evident
PM Te increased number OF failures OF the past year
il not altogether chargeab 10 the business operations OF
1876 for other influences have been at work, against
winch il l. difficult for any business 10 contend The
chief OF these adverse Influences IL that fruitful source
SbIc pnTposr was contemplated in the enactment Of
such law it is vastly overbaanccd by the encourage
affords TO those who desire TO lorct tnr cIe9s
into accepting less than the face OF their claims Inc
wedding out" process which these hard ules Should
produce, III order that the resfc.d uauc vi tlc ,
may be divided among number 50 large az 10 yled
profit none is virtually at standstl; Or tle ehDe
OF those who 90 out OF business, III pIooto ~ tH
fail, is mere bagaelle Toe WhOie future OF the
mercantile trade Of tie country is bound ny in this con
sideraOn There are possibly many subjects Oh crave
importance that Congress can occupy lseI Wth dHfls
the present session bul H. On s part tneLg !, .y VIII
position 10 give attention 10 SUBJECTS Oh Tealy phfllcl
advantage " the trade Of te country there Is none 10
which It's ability could be more probably directed
than to the repeal or the amendment ol Inc bankrupt
law -, ,.. =,
trade in the Autumn Of the year just closed ana "lch
10 sO,e extent participated III, sun prevail Tue
year mas most prolific one III largely augmeDun8
The wealth OF the country Cotton, gram sugar tobacco
gold and silver petroleum. and numerous other resources
OF ts great lave been produced III qinttles
sufficient to yield nearly Sl,OOOOOOOOO' Inc Sc,
verify OF the Winter which 10 many is an undoubted
calamity has cOmptsating advantages when may CON
tribute improved spring BUSINESS. Inc aDuIdahcS
of snow which IS termed the poor mans manure ana
wac unquer tOnably errlces and iilgates the SOIL also
protects the Fail crops, besides providing an abundance
OF water for the cattle thousand bills, which were
for need b II all the early slng st year
II also makes magnificent country roads the sdvanass
of win when 10 10 remembered NOW ser
ously trade year lnterfered with at inns ana
iatsy neriod- hen the roads whole sections OF the
coubtry were impossible from the want OF frost anu
snow The delivery Of grain, pork ana other Iarn pro
duce will during the present season, thOushOut inc
N0rth and Northwest be at least double tLdt OI the
Winter months OF last year. while the operations Oh i
beTmeu will be greatly facilitated The consequence VIII
be much frcer purchases AT country stores larger hO
sOTptIon goods and more active circuauoh Vi cur
rency than has been witnessed III some years past