New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-07-14
GREAT DECREASE IN FAILURES.


BUSINESS IN 4 SOUNDER CONDITION.
ONLY 2.497 BANKRUPTCIES IN THE UNITED STATES
IN THE LAST SIX MONTHS. WITH LIABILITIES OF
800. SIS, 763-FAvoRABLE COMPARISON WITH
PREVIOUS YEARS.
Dun. Barlow g. Co. have issued their circular
showing The failures United States and Canada in
the three months and the first half year Of 1880
as compared with the corresponding time In 1879
During the last three months l,o65 failures, wltn
liabilities OF S2Ol11 ESQ reported In the UDifed
States. and during the half year OF 1850 Law WIN
liabilities OF S32 1857 In the first SIX months OF
1879 there were 4.05s failures, with S6577o,3lo Ia
bcs The circular contains the following statements
aud differences:
THE foregoing figures, which indicate decline In
failures SO marked, compared with the FAVOR
able showing OF the year previous are fresh ustra-
OF the healthy condition OF business which IL almost
universally supposed to prevail IT, during such years
as 1873, when the losses b. bad debts eqnaed
S. 900, 900 per week. the failure figures illustrated
very disastrous condition OF affairs, surely no better
sign of the general prosperity than now prevails IS
needed than the tables for the first half OF 1850 In
which from this source are shown TO DE- rahe
less than one and quarter millions per week so that
not only the figures in themselves evidence OF pros
perty but lhe absence OF loss which they imply Is
part OF the existing favorable condition OF business
at is evident that the risks of business in the last
months far credits concerned havebeen re-
duced to a minimum The lessened volume OF Internal
Indebtedness resulting the OF depression
preceding 1870 is In the small amount OF less In
Cured through failures the past year. especially when
COMPARED with the enormously Increased volume OF
business transacted The circumstances under WHOA
The present statistical comparison is made are there
fore very advantageous and the result is seen In the
very favorable figures The figures, If taken In their
broadcast sense. would imply condition OF prosperity
and safety in granting credits hitherto not equaled III
the history OF the country Bat it would be unsafe to
rely too implicitly upon Indications even as
exact as theso figures; statistics Of this nature
arc essentially the records Of the immediate
past and are not in any prophetic. 1t would be
un ignore the existence of conditions OF business
which they do not in any degree illustrate For In
stance It is safe that for the next SIX months the
chances OF king money do not bear any comparison
with the chances they existed In the last six months
of $40 The Of tie two periods are al
most precisely reversed AT this time last year stocks
OF almost every product small, and values ar a
minimum; at the present hour the results ofsinuacd
production largely increased importation, and general
activity, seen in accnmuiaiions or goods
and very uncertain values. The possibilities Of
making money, therefore. rest solely upon the
slow and gradual absorption of goods by consump-
ton The ability Of the country TO absorb consume and
pay for its requirements hes never been greater ana
The gains that to he made are likely 10 be me result
OF legitimate trade rather than the duck profits when
wore realized last year from speculative advances
OF eir profits VIII doubtless participate III the general
prosperity winch but il ls painfully evident th
mere are many who heavily weighted win meI-
chaud &c bought at extreme prices and whose proiis
even for the past year have been or VIII be, pety
eecuallY cxtincuished by the settling in prices when
Is going in almost every department OF business
Another element OF uncertainty exists VIII regard
TO rhe prospects the agricultural class on whose cOu
unued prosperity tha whole comm"rcal fabric more or
less depends. TGe magnificent wheat crops harvested
last year, aud the high prices realized IN
cpoSs IN Europe, were the most Important con
hi TO
revival OF trade. Close observers view with consider
aInount OF money to be realized in the coming year
from expectations. good harvest III Europe would re-
suit In a changed condition OF alalrs so tha INSTEAD o!
exporting US 600 900 bushels or gram the amount
might dvndlc 75,000,00O. An unsalable surplus OF
ignored the business OF the country in lis
present shape is Largely pIed,ca'cd upon , n,gn
prices Tor agricultural products ana inc eeeips o. rEe
sums from other countries should these conditions nc
nterfered with the results TO tne agrlcaustI ,Io
the classes pendent upon them would De 10
largely lessen the demands for goods, decrease Their
de bt-payng power and intensity the somewhat uncei
tain feeling with reEaIu 10 prices Seneiat ol
disc. a csseued foreign demand wOnid OF c0nise SER
transportation, and generally put OUT OF gear lhe
machinery OF business ~ IT'S present ex pansye hape
Ing OF tins county would b. e3mpensahns aa
vantag but whether tns "S pir rsnTs
to be seen. The Strength OF the position
harrison with all other nations Of The globe. IS
The Infinite variety OF lis resources IL addition 10 bread
SHIFTS In the single article alone the maen
tude Of tue production promised and the hign price
which still prevails for It, viii malniain the volume OF
exports at high point especially supplemented as
these AR by the enormous sums realized from abroad
for tobacco, provisions petfoeuni. cc, etc TIE acy
of country produce and export articles wnch 10
other country yield III such abundance, and the de-
mand or which is constantly me easing, VIII always,
uucer ordinary circumstances, enable us 10 iargely
regulate The balance OF trade in favor Again, the
afracrons which the country affords 10 The enormous
number of immigrants landing upon its shores seem
now TO be better und Than before The con-
sequence great contribution not only 10 It's wealth
i'm tue share of a steady nal money, but 10
lis growth in producing and consuming power. "A
general of tue condition OF things at TINS period
is. full OF intcres. and encouragement