The daily gazette., 1879-06-27

BUSINESS PROSPECTS GROWING
BRIeHTER.- In our own city there
seem to be- very few men idle. We
doubt II employment ever was more
general. The earnings Of labor are
small comparatively to be sure. But
then living is cheaper, and with economy
men can manage to live web and keep
ont Of debt. Now is the time that they
may learn how to economize, and when
an opportunity is next Offered they may
be able to save that which will make
them remember the hard times with an
appreciation, as well as feeling some
what Of dread. II must be remembered
that the shock Of the "hard times" was
first felt in the great cities-in the money
centres and in these centres may we first
expect to see revival Of trade. There
now seems to be some hopes Of this.
This depression of business appears to
have been more extensive and wide
spread than any heretofore. Trade Is as
bad in parts of Europe almost as in the
United States. France seems to have in
some measure escaped. But 1t Is likely
her turn is TO come. She too has had
her imitation, and therefore, as ''what
goes up must come down." she Is sure to
have her depression. Hopes are reviving
in New York and Philadelphia, and if
we may believe what their newspapers
say they are encouraged to believe that
the revival in trade is to be permanent
because it is making itself felt abroad as
well as at home. In confirmation of
this we submit the following reference
to this matter from the n. Y. World, of
yesterday:
"As confirming the signs of better
times which were first clearly developed
some weeks ago by the World in a re-
view of the business situation through
out the country based upon special re-
ports from all our leading centres of in
dustry, it is interesting and important
to find that England is plucking up her
courage also and finds the tide rising
once more rather than falling under her.
The Economist of June IA announces
that the exports of foreign and colonial
produce from England in May were
largely in excess of those for May, 1878.
In wool the export was 1,249,3 1866
against f537,574; in raw cotton, f40S,-
$40 against f2S9,9l3 in coffee, $780,
35l against f520,957, and in tea f274,-
oil against f149,367. An increase is
also visible in the exports of engineer
ing work and machinery and large in
crease in the export Of pig-iron. The
L verpool Mercury echoes the cheerful
accents of the Economist and says:
"The bit of blue sky is no illusion.
1t is mathematical-that is to say. an
arithmetieal certainty. The export trade
of England is shown by the Board of
Trade returns to be revivng. In May,
1878, we sent out British and Irish pro-
duce of the declared value ZIG, 6,l65,015.
! In the month just over, our export trade
was of the value of f16,520, 400. The
difference is only f355,415 and the trade
two years ago was worth nearly mil
lion more on the month than it is now
E But the fact that the tide has turned il
e one so grateful that it raises hopes be
g ycnd the cause"
+ These promising symptoms from owe
= the water are of special value becaus
they go to show that the revival of aC
tivity in the United States comedies wit
u a worldwide revival, and is the resu
therefore of genuine commercial IT
; covery likely to last and not merel
$ spasmodic and eyaneseent movemen
S They reinforce the cheerful lesson draw
J. by the Philadelphia Ledger Of yesterds
e from the excess of 3,262,9 $40 bushels
c wheat and of l,OT5,6 ,685 bushels of col
'i in our grain exports of the past eig
,r weeks over those of the same period la
l. wear, and from the promise of the gre
: Southern cotton crop, that ''the actu
it working men of the country are tod
l. more fully employed and at bett
a wages, the purchasing power of mon,
considered, than at any period since d
sc dishandment of the armies at T.
ly close of the war;"
C. In this city yesterday two great bloc
:, of real estate were sold, one of the
r upon an upset price Of 100000 INC
IN than the sum at which it was last SUI
a mer offered without eliciting sing
le bid. The Economist dwells with spec
,n emphasis upon the expansion Of Engli
's trade in cotton yarn and in colt
ry manufactures with India, which,
fl thinks, has been stimulated by the r
in in the price of silver which the advar
,rn in the price of cotton in England mi!
:" otherwise have tended to check 1t
ds ticipates further development of
-or the English trade with India, from
~ stopping of her sales of silver by G
Ml M many. This gives peculiar signficaI
er from the commercial point of view
,he the important news which to-day reac
for us, that the Directors of the Bank
,,t Germany have passed a resolution
'e' claring an increased silver coinage to
10 imperatively needed by Germany.
all