The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1879-07-26
IMPROVING THE TIMES.

The best way to improve the times and re-
store business confidence is to show that the
times are improving and business confidence
is restored. To that end we can do no better
than republish the following from the last semi
monthly circular of Il. G.. Dunn Il Co., In rela.
ton to the mercantile condition OF the country
July, 1879:
The failures for the second quarter in the
present year are 1884 in number and $4,000,
900 in amount of liabilities These figures are
notably less than IN any single quarter of the
past five years. This will be seen by an eX-
animation of the following table, in which are
grouped the failures by quarters since 1870
As compared with the second quarter Of 1873
the difference in favor of the last three months
is very marked, indicating decrease of over
900 failures IN that period, with decline in
liabilities of $26,0OO,000 IN the quarter-a les
sened loss or lock up 10y bad debts of over 81
600, 900 per week!
The general differences and conclusions OF
the circular are summed up in the following
paragraph;
The indications are numerous on every hand
Of an improved condition of business, yet none
are more significant than the decrease in fail
sums through misfortunes of this character,
the amount locked up in estates awaiting adj
iustmcnt Is most serious Withdrawal from
active capital But even greater than this Is
the effect upon the confidence so essential to
business pursuits. Numerous failures retard
business ventures in greater ratio than any
other single circumstances; while the proba
blllty of lessened disasters begets faith IN the
future and this feeling of safety contributes
almost rs much rs an incentive to transactions
aS the hope of gain. The decline in values,
and the absence of remunerative profits expe
rienced in all branches of business during the
last two years, served To intensity the anxiety
always felt when losses by failure are frequent
or even probable but now that the figures
above submitted reveal such marked improve
ment, as compared with the losses chronicled
in previous years by bad debts, another ele
ment Is added to the growing confidence al
ready manitesting itself; especially when taken
i'll connection with the present steadiness IN
prices and improvement in values of many
staples, and the evident growth in the volume
of business With regard To the increase in
the extent of tranactions during the first half
OF the present year, some very definite figures
may not here be out of place, Ia supplement
the statistics of decreased failures. No better
index az to the volume of the business of the
country Is obtalnable than that afforded by the
Exchanges between the banks in their settle
ments with each other, through the medium of
the clearing houses established by them in
numerous large cities There am now twenty
/ two of these large centres of finance whose re-
1 pHts are available, and for the sake of CON-
parison the figures are very valuable. They
/ are regularly cleaned with great care by the
editor of the Public, an excellent financial
] Journal of New York, aud grouped together as
follows for the past six months of the present
year.
We omit the table, bu, quote the satisfactory