The interior journal. [volume] (Stanford, Ky.) 1872-1881, 1879-02-28

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The United States Ecoaomisi ana
Dry Goods Reporter Of New York
discovers, since the first Of January,
encouraging business prospects for the
future. Values Of all kinds Of prop.
erty have been adjusted to a specie
basis, and the cluso Of the first month
Of resumption Gnds more gold in the
National Treasury than at it, com.
moncemeni, although s25, 100000
have been paid out thercfrom. This
fact sets at rest the doubts that croak-
ers originated about the failure Of the
Treasury department to continue TO
pay gold on demand, and assures the
public that honest money is once
more Triumphant. Tho excess Of our
exports over imports for the year
1873, exhibits the gratifying balance
Of s3O5. 100000, with every prospect
Of being further increased during
1879.
During the first three weeks Of Jan
uary, 1879. 5000 packages Of domcs.
tic goods have been exported in excess
Of the amount shipped from all other
ports for the corresponding period Of
1873. China. Japan. Mexico. and
South America, arc cul,ivating with
Us closer commercial relations, and
our cotton fabrics are finding in these
countries = widely extended aud rap
idly growing market. Our breadstufls
and provisions are the chief articles Of
freight carried by the large 4 ect Of
steamers that almost daily leave our
scabOard cities for European ports, and
the shipments promise 10 assume such
magnitude in the future that larger
vessels Of immense freight capacity
are being constructed to accommodate
this growing trade. The trunk lines
Of railway are being used to their full
capacity in transporting the produce
Of the West TO the seaboard. while the
elevators in the chiet cities Of that
region are crowded with grain waiting
for cars to transport Il East.
The recent large advance in rail.
road bonds and mortgages is an indi.
cation Of the confidence felt by the
public in their security as a perma-
nent investment, while the rise in rail.
way stocks also demonstrates clearly
that the effects Of the panic are rapid
ly disappearing, and that new tide
ofprosperity awaits the country. Rail.
roads were the frst to feel the fnan-
cial upheaval in 1878. and they also
give the first sure indications Of
commercial revival. Real estate is
improving, and in this city vacant
lots that could not have been sold at
even a nominal price two years ago,
have advanced in some cases 100 per
cent, within the last six months.
The great dry goods interest. which
Is larger than that Of any other in the
land, has before il an encouraging
outlook. Prices of cotton and wooden
fabrics, both foreign and domestic. are
now so low that any change must be
upward instead of downward. Mer.
chants cannot lose by the wide huctu.
alton of values as heretofore. Incom-
petent and unsound concerns have
generally been weeded out, higher
degree Of mercantile efficiency and
honor is being developed, and the ba.
siness generally passing Under more
systematic methods and control. There
are 40, 100000 Of people to be cloth.
cd, the chief portion Of whom have
made but limited purchases during the
last five years, and now. with better
times in view, will become large con-
sumers Of all kinds Of merchandise.
To the capitalist, banker, merchant,
manufacturer, artisan, and laborer,
there il the sign Of a business improve
ment II will be slow, but it will le
steady and permanent. While Eu.
rope Is threatened with social and
commercial disasters, and distress and
suffering prevail through declining
trade. in the United States peace and
plenty abound. and the business of
the entire country is reviving on the
solid basis Of specie payments. We
have had our disasters and trials; they
multiplied for time thick and fast;
but having been led by kind Provi.
dence safely through them, we enter
upon a higher commercial destiny
than we have ever known before.
The MANUFACTURE OF Glass IA Piffs-
burg.
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