Ashtabula weekly telegraph. (Ashtabula, Ohio) 1880-1886, 1880-04-16
The Business Boom.

The business pulse of the country has
not been stronger or healthier since the
war than it is at present. Every de-
partment of industry shows the effect Of
brighter times. Manufacturers are
pressed with work, the demand for new
products being far in excess of the sup
ply. Old stocks have been exhausted,
SO that the revival will be permanent.
The year of 1879 was one of marked
prosperity for the grain and cotton
regions Of the West and South. The
farmers and planters are richer than
they have been for years. Good prices
have been realized, and large volumes
of money have passed through Chicago
and New Orleans out into the wheat and
cotton growing sections, The high
prices at which the 1879 crop of cotton
is exchanging hands has given business
at the South a wonderful stimulus. The
increased freightage on grain from Chi
cago east, during January and Febru-
ary, checked transactions to some ex-
tent, but without serious detriment to
producers, the crop having been pur-
chased mt the lake cities in most cases
to their profit. The great farming
country of the\West is in magnificent
condition for the current year.
The coaland mining industries, which
are extremely susceptible to revivals of
business, show that the year has been
one of pronounced activity. In the
item of Bessemer steel rails alone, tho
production last year amounted to 606,-
397 tons, exceeding, in fact, the amount
produced in Great Britain during the
same period. This year the product
will be much greater in amount. The
coal mined by the companies under con
troll of the Pennsylvania Railroad Com
pany amounted, in 1879, TO 1,346, 1852
tons, being an increase of 265, $40 tons
for the year, as compared with 1873.
New England manufacturing inter
ests have not been better since 1870
than they are to-day. Cotton and wool
en- factories, machine works and paper
mills, every representative industry at
the East, in u word, has felt the push
and vigor of the business " "boom.n
The diminished mercantile failures for
1879 also furnish proof of the best kind
that n better era has commenced. The
failures throughout the country for the
year numbered 6,65S, with liabilities
amounting TO S9S, 149, 003. The num-
ber of failures for 1873 was 10,47S, with
liabilities amounting to 1924, 3S3, 1872.
The decrease in round numbers aggre-
gated $l36, 000,00O for the year. Bank
returns from the clearinghouse of
twenty-five leading cities, through which
the banks settle their balances, show
that the volume Of trade for December
was larger by nearly ftta per cent, than
for the corresponding month in 1873.
These facts indicate marvellous im-
provement In the business situation, one
as healthful and sound as It is crafty
ing. There Is no longer apprehension
that the activity in trade and the adj
vance in values win not be maintained.
The business revival did not spring up
in answer to speculation, but on the
contrary, in response to an imperative
demand. The old supplies have been
exhausted, and new ones must be fur
uished, This is why brain and muscle
have been set at work again through
out the country, reyiving all depart
ments Of industry and insuring a new
era of prosperity for capitalist and Ia
borer. .E'tna (Hdrtt6rd, Conn.