, 1880-01-01

sonlc branches Of tratlc and In some sections
of country to Ercntcr extent tl,nn this. But
there has been tarfItncss enough III other d.
recttons to rct,uce tho total 10 n general aver
ago for tho whole country w)ic1l falls within
the Aboye-1lamcd limits. II ,nny surprise tho
general rea.ter tn note how closely this de-
tluctIon ls borne out by the comparative fig
,ires which fol1ow,-,nade up, by-the-by,
without my reference to tho theory
Its easy enough now to pl,ilosophizo OIL
these things, md remain poor. Tho men
who wcro wise enough, to tlrnw these now
self-cvi,lcnt conclusions IN ntyanco OF tho
fact ltavo made money. Tho greatest losers
were those WHO failed to read tho "slgns Of
tho times" and contracted to perform scrv-
leo or deliver property OIL tito basis Of old
prices.
The samo r,,lc holds good with regard to
prices, but not to the sanlo extent. Tho nv
crage for tho whole yenr does not exhibit
anything like SO great MI increase. Tic big
Jump III prices under the autumn boom
ratscsl the general level very m.lct. less than
Most people would suppose Tho specula-
| 1.-Two grade Of wheat only shows mn Increase
of ~ per cent, and corn nctually
| shows decrease of 9 per cont III tho average
| price per busl,cl. The smaller grain mnrkets
show an increase of 0 per cent III rye to 10
per cent In oats; but oven including these,
tho average price per busl1cl OF nil the brcad-
| stuffs received In this city during tho psst
twelve months was only Il little above TINT Of
tho preceding ycar. A. henrly similar state
| OF affairs exists III provisions, though tho
price Of " tho whole hog" was about ~ per
cent higher. Tho average quotation for pork
was advanced about 10 per cent, by MI cnor-
lnous speculative cmovcmcntin tllatarttcle, but
lard was depressed 10 less tl,nn o596 per cent
by tho fact Of unusually big stocks, and
1neats wcre ~ per cent lower Ill
sympathy. Tho advance was moro
marlted In other descriptions of prod
uce, raising the general average.
Tho advance In prices of MI kinds of prop
crty sono twelve months ngo Is little moro
than tho increase In tho volume of OUR money
circulation; but tho average increase for tho
whole year mny be roughly estimated Mt not
moro than to per cent.
! It Is pleasant to he ablo to record the fact
that this city lias increased tho volume Of her
business transactions more thnn tho average
of tho country. 'Twould have been well to
lave done equally we'll; to have done better
proves that Chicago has taken slill another
step In her trlu,np!,n1 march towards the
proud position of tic worlds CONNER
| ~ N,r,s c1,r, $f,nk,
have gained 10 per cent lii produce,
81 per cent on wholesale trade, ard ~ per
cent In our maNufacturcs,-maling II total of
11>I per cent. 1t may be interesting to compare
this with tho Increase Of about 80 per cent
In tho clearinghouse returns, which are
usually regarded rs mn accurate index to the
relative volume of trade. Tho difference Is
chiefly due to tho vast increase III tho volume
of speculative tradlng III produce during the
autumn. This does not figure III our estl
mates, which only include tho first selling
cost of all the material bought and sold here
and take no 1,oto Of the number Of times tl,t
property may bo turned over while In thu
city. a small part Of tho excess III clcarings
Is owing to tho renewal Of, confidence b.
many mon who were their own bankers il
1878, being frightened by tho bank-failurcl
which lad been so frequent. ns to become
almost monotonous, though not the! less dis
agreeable.
It should bo noted that while Our quota
tions Of prices, etc., for former yenrs nr,
given In currency, NIL cur totals used 1t
comparison aro reduced To spccio basis
We have changed Our figures for 1873 In tw'
. or three cnses, Ms n result Of Information
| gained after our last Annual Review was pub
, l!sl,cd, but the differences In tho aggrcgat
, nro not important, ono item nearly compen
snting for tho other.
III tho introduction 10 our Hcvlewlof 1877
we remarked, "Thero Is little room to douh
that we arc now on tho upturn In prices; o.
produce, other stocks Of merchandise, MI
real estate. Our prospects wer
, never more bright" There certainly Ia ITO
+ ut tho present tlno less reason than yea
, aEo to anticipate prosperityin tho future
All tho conditions pulnt towards 1880 rs to b
a moro act!ve md prosperous ycnr for Chi
= cago than any that has preceded 1t; thoug
1t Is possible, and perhaps desirable, TINT Il,
, fever-hcat Of speculation experienced lns
n autumn be toned down into n more Sobc
i activity during tho ensuing twelve months.
PRODUCE.
|