The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1880-01-06

when the opportunity COMES lOF IHuCIsihS
in it.
There were obvious reasons why the last
commemoration of the dawning year should
be exceptionally brilliant and felicitous. New
York has awakened at last from a prolonged
and eneryating lethargy. The panic wrought
sad desolation in our midst. Fortunes melted
away Fabrics Of illusory wealth tumbled to
pieces like card houses. Property shrivelled
to such a degree that enough couldn't be got
out of considerable Of it to cover the amounts
for which it was mortgaged. Few people
earned anything. Business yielded no profit.
The merchant who could get off without actu-
al loss thought himself lucky Failures oc-
CURED with such frequency that they long aso
ceased to excite the smallest surprise in any
body. The comparatively few who possessed
riches lived upon their principal. The posi-
lively many whose debts exceeded their assets
subs;sted through the forbearance OF their
creditors Within twelvemonth there has
been marvellous change i'll the situation.
The appreciation of values has restored tens of
thousands from indigence to af1iuence. The
rewards of traffic have been unprecedentedly
large In some departments Of commerce the
gains of a single year have sutficed to leave
handsome surplus over and above the losses of
the five preceding ones. In all, the results
have been of such substantial character.that
the most superficial observer cannot fail to dis
Germ evidences Of the prevalent prosperity in
the smiling faces that greet him at every turn
Pretty much everybody bears himself gaiy
and somewhat iauntiIy as if he was perfectly
satisfied with the existing condition of affairs
and on tho best possible terms with himself
and the world.
Happily, this sort of cheerfulness is contag-
ious, and it has LEM brightness to many q
household and pierced innumerable dwellings
with its sunny rays. The season began early
and has been an exceptionally brilliant one.
There has been one continual succession of
parties, fetes, receptions and merry makings
since the beginning of Autumn. 1t was thing
to be expected that rare preparations should
be made to commemorate the birthday Of tho
New Year on a scale of unwonted splendor.
The jewellers and mantua-makers, the decora-
tors and upholsterers have been busy for
months in supplying their customers with all
the appliances for magnificent demonstration
on the appointed day. And when the scene
did open it was dazzling enough to satisfy the
most ardent admirer of art and beauty. Those
whose opulence relieved them of all solicitude
about expense embelished their drawing rooms
with tasteful ornaments and all the concomi-
tants of luxurious elegance. The fair occu
pants of them were arrayed in exquisite toilets
and adorned with sparkling diamonds wrought
into various forms of graceful shapeliness.
Others, not so amply endowed with, means,
contented themselves with less pretentious
demonstrations, but we're equally happy in the
selection and arrangement OF their effects.
Persons in moderate circumstances, and prop
erly mindful of the requirements of iudicious
economy, nevertheless were entirely successful
+. in making themselves attractive and their
shomes agreeable The ladies who received
and the gentlemen who waited upon them
were in perfect harmony in their appreciation
Of the day and their purpose to make ii rnem-
orable event in the annals of social life. The
greetings were bestowed and the welcomes re-
turned with such manifest earnestness and
sincerity that when the pageant ended there
were genuine fluctuations on both sides, and
the feeling must have been universal that the
wear had been opened most auspiciously.
The outlook for the future is far more prom
ising than it has over been on any preceding
New Years Day. Another year like the last
one would entirely obliterate those traces OF
misfortune which misgovsrnment and CONNER
cial disaster fastened so deeply upon this city
of great natural advantages but OF many wasted
oDportunities The membranes which the
r'ammany gang laid SO heavily upon the real
estate of our citizens remain, and the tax pay
9rs are ra:afrlly reminded of them on the cons
are not increasing and the taxable property is
SO that they will inevitably grow less and less
burdensome as the march of Improvement de-
velops itself in the erection of numerous costly
edifces on the upper part of the Island. There
is every indication that there will be large
amount of building done henceforward. This
creates demand for material and labor and
gives an impetus to all kinds OF business. There
are indeed SO many causes combining to favor
the interests of people engaged in trade that
as far as it is possible to interpret the signs OF
the times, they foreshadow long career Of
success and thrift to the American metropolis.
YARMOUTH.