The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-05-29
The Business Outlook,

The Business Outlook.
The New York Times. with its accus-
toned energy,is gathering information from
all portions Of the United States as to the
condition of business and the promise of
returning prosperity. Introducing the COM
munications covering this interesting SUBJ
iect, it says: 'sThe correspondents of the
Times have gone again over. the ground
covered before, and the results of their
researches, as well as those of many other
correspondents from sections hitherto not
heard from, are given in the carefully pre-
pared dispatches published. These reports
are from about seventy-five different points.
in thirty-one States, nearly all the impor-
tant centres Of trade and manufacturing
being represented and seem to show
concurrent testimony to healthy scondi-
ton of business and the promise of grad
ual approaches to a substantial prosperity
never before experienced in the history of
the country. Corresponding with these
deductions from the correspondents of the
Times, is a statement in the Boston Trar-
eller, s'that the flood tide of business has
fairly set in and is being proved by every
days experience here, and by every days
news from the distant sections of the
country. Last week there was the greatest
move in f1annels than has been known fol-
a year or more. More flannels were sold
in this one week than the total amount for the
six months previous, and manufacturers are
declining to fix prices ahead. This is the le-
ultimate result of settled conviction on the
part of the business men throughout the
country that the flood is coming strong. An
other significant fact is the starting up of the
various iron concerns in Pennsylvania and
the West. This is, perhaps. the most i'm
partant industry west of the Allegheny
Mountains, and its revival after so long de-
preston is of the highest degree encourag-
ing. Within the past three months there have
been several thousands of miles of new rail
roads surveyed, and within a very short time
a large portion has been put under contract.
All these things are indicative of vast in
crease of labor employment, and thus emf
grafton to the West from the oyercrowded
localities in the East becomes another impor-
tant factor in the restoration of business
Parties who are in position to be well in
formed are of opinion that there will be a
large excess of foreign immigration this
season, the news of large prospective de-
mand for labor having crossed. Still an
=. af
sales of land grants, both by railroad
corporations and government. The bust
ness tide is evidently rolling onward. Let
it roll.''
1t is difficult for persons who have the OK
perience of the business .s'boom'' OF 1873
and the few years previous, and were in
the midst of the excitement and stir of
imitation in all kinds of property, to realize
the slow process by which we are recover
ing from the reaction of that insane period.
Sagacious reflection and observation, how
ever, must convince the most skeptical that
ssthe times are getting better,'' slowly, it is
true, but surely, and that the caution which
is entering into all kinds of enterprises and
controlling their operations, is forming the
foundation for robust growth in material
wealth, giving assurance Of prosperity in al
channels of trade and character of eX-
changes. There is not that dash and rush
which carried communities into the most
extravagant excuses in estimating values
and stimulated speculation and adventure
in every description of enterprise and bar
ter. But there is calculating prudence
and judicious method observed in business
arrangements, and disposition to severely
diseountenance reckless credits, and kiting
transactions of every kind. We observe
this in all departments of business endeav-
ors. Public sentiment and practice are be-
ing gradually educated up to the cash sys-
TEN, and the progress made is manifested
in our merchants anticipating their bills ;
sales of personal property discounted by
purchasers real estate bonds anticipated,
and a general healthfulness in the condi-
ton Of trade and exchange of all kinds. A
careful study of these indications point UNI
erringly to the improvement lin the bu-
siness relations of the country, and give as
surance that the people have wisely awaited
themselves of the experience of the past to
steer clear of extravaganza and excess in
purchases and dispense with the credit sys-
tenn as far as possible.
Grumblers we have and have always had,
and always will have; but the evidences of
returning confidence must lessen their num-
Der and give a more CHEEKY cast to
thought and expression, and stimulate the
hopes and the energies of the people in the
substantial promise of the prosperous fr-
ture that lies before us.