Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-05-28
PROSPERITY.
Sure Indications That 1t Is at Last Re.
turning, though Tery Ca,stio,tsly
49,. - ", -.z--

Sure Indications That 1t Is at Last Re-
turning, though Very Cautiously.
New York Times, May 26.
The promise of returning prosperity in
all branches of trade and manufacture, as
given a few months ago, has been kept, and
the reports then gathered amply verified. In
New England manufacturers of all kinds
have felt the revival most strongly. Except
in one or two cases in Rhode Island and
Connecticut, where recent financial embar-
easements temporarily interfere, the facto-
ries are running on full time, with brisk
demand for their products. The lumber
mills are busy, but the prices low. Jobbers
report good spring trade. Sales are rapid,
but on a small margin of profit.
Retailers alone complain, being the last
to feel the evidences of returning
prosperity. Business is transacted on
sounder basis, less credit is given, and less
asked, and collections are generally easy.
Wages are lower. What has been said of
New England is true of the middle States.
One indication of the revival is the increased
traffic on the railroads. New JERSEYS silk
factories now employ nearly twice as many
hands as q year ago, and her iron and ma
chine makers have hard work to keep up
with orders, even by running night and day.
The improvement is hardly so apparent in
the districts where coal interests are promi-
| nent, and the furnace men are very fearful
of a.threatened advance in coal rates. The
Delaware ship yards are full of work. Con-
fdence is expressed everywhere. The loungera
have gone West, and skilled mechanics who
remain find work enough. As in New Eng
land, the retailers are more cheerful over the
prospects than present business. From
Baltimore, which has lost much of its South
ern trade, comes cry of distress, mingled
with some INSTRUMENTATION over an in
creased export trade. Taking the othe,
Southern and Southwestern States, the gen.
eral expression is very cheerful, South Caro-
lima only reporting trade dull Virginia finds
great impetus given to tobacco manufac-
turing by the reduction of the tax. West
Virginia grumbles, with glass and
nail factories in full blast, because
the profits are not large. The cotton
States report reyiying business, based
on the promise Of the crops. The other
States report good general feeling, with
the exception of Kentucky. In almost
every State building operations are brisk
and finances growing sonnder, as shown in
the payment of old debts and less desire fol
long credits. New Orleans has some fear OF
quarantine, which may embargo business
Throughout the West the same evidences OF
prosperity are shown, but are more self
asserting than in the South. No failures OF
rumors of failures in trade, collections easy
long credits neither offered nor asked =
these are the chief financial indications. All
the manufactures are busy. Those which
supply materials and tools for farmers and
new settlers are particularly favored with or.
ders. The millers Of st. Louis may have
shut down, but for local reasons. Jobbert
report that trade has been in some places Ii
per cent. better than last year. The retail
trade, again. is the least affected by return
ing good times, but the farmers are nov
hard at work and have little time tc spend il
shopping. Building is going on rapid,
everywhere. Emigration is very large
Some of the more Western States even ap
pear to feel crowded. There is plenty O
work everywhere, as one correspondent says
for muscle and capital. 1870