Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1880-01-07
THE CLOSE OF Il PROSPEROUS
YEAR.
From The New York Economist.

From The New York Economist
The year closes upon the nation in full
tide of commercial prosperity. Anxiety
doubt and fear in regard to business pros
poets have given place to confidence,
hope and renewed vigor. Industries
long dormant have again revived, labor
is generally and steadily employed, wages
are advancing to a fair average, and
capital is coming forth to stimulate new
enterprises. The products of the mine
and soil have been abundant and are
adding largely to the nations wealth.
Factories hum with the rattle of busy
looms, forges glow with furnace fires, the
ports eff commerce stir with the pulses OF
enlarged trade, and trunk lines of rail
way are crowded with east and west
bound freights. Improvements in city,
town and country are adding to the beauty
and utility of the land New buildings
are being erected on every side, and real
estate, so long depressed, is steadily in
creasing in value. The finances of the
country are in healthy condition, the
currency is placed on g specie basis, gold
is still coming to our shores from abroad
and the balance of trade remains largely
in our favor.
The tonnage in Atlantic ports is larger
than at any period in ten years, attracted
here from foreign countries by the pros
pect of speedy freights in grain, bread
stuffs and provisions, that are needy to
supply an increased European demand.
The export of textile fabrics, hardware,
furniture, agricultural implements, musi-
cal instruments and sewing machines is
steadily advancing, and our trade with
China, Japan, the far East and the Is
lands of the Pacific is becoming more
widely developed.
Emigration is pouring in from the
populous countries of Europe, mainly OF
a thrifty Glass; who are rapidly settling
vast areas of the Northwest. Along the
line of the Northern Pacific Railway vii
lages and towns are springing up, and
new communities organized with all the
elements of a good social and domestic
foundation. The vast deposits of the
precious metals in the Rocky Mountains
are unclosing to the hardy miners toll,
and new millions of gold and silver are
monthly added to the nations resources
The great corporations in coal and iron,
which suffered so severely since 1873,
have had a year of great prosperity, and
are fast getting in condition to be reliev-
ed from all financial pressure. Railroad
securities have advanced enormously land
stocks and bonds year ago considered
of but little or no value are approaching
a dividend basis. Manufacturers in WOO
silk and cotton have for first time in g
long period had successful twelve
months business, with the prospect of in
creased prosperity in the future.
Dealers in general merchandise, whole
sale and retail, with but few exceptions,
i, will count their profits at the close of
1879 on the right side of the ledger, ano
balance their books with the assurance
that the new year will add to their in
crease. The old year ends amid peace
plenty and prosperity, and the new opens
with this country possessing nearly every
advantage possible to march forward fol
the supremacy of the commerce of the
| world.