, 1880-07-04
FINANCE AND TRADE.


| ii hF1e1 EkGVleSF 01 the Half ear
| Boston advertiser, July .
The close Of the half-year is a suitable occa-
sion for a brief review OF the financial and
commercial events, and for forecast Of what
| may be expected in the near future The year
1850 began during period Of remarkable and
brilliant business activity and promise. During
| the Six months that have since elapsed the coun-
| try has passed through season Of sharp reac-
ton in all departments of business; but the re-
| action now seems to hnve spent itself, and q
season of vigorous recovery has set iu. Prices
| Of goods which were advancing In January ana
| continued to advance for month or two after
| ward, have had rapid and prolonged decline.
! 10 strong demand for consumption aud by
| spectators succeeded an almost complete ces-
I sutton Of inquiries for and purchases Of goods,
! with exceptions in favor Of some classes of
merchandise Of steady consumption. The stock
| market, which Is usually an excellent Indicator
OF the condition Of general business, proved to
be 50 III this ease. a sharp and lone-contIpucd
decline took place, not only in tho shares $hich
have only future and speculative value. Btlt in
the most solid Investment securities below the
grade Ut Government bonds. The money mar
kct has tuctuuted wildly and widely. At the be-
ginning Of tho year it was working into state
OF comparative ease, and after a few weeks WIS
extremely easy. Then it suddenly grew tight,
and for short time the rate Of interest wus un-
precedentcdlY h}sh. During the lust two months
money has been growing more and moro album
dant, and can now bc had Mt extremely low rates.
MeAlWnlie the other conditions have been re-
rersng themselves. The stock market hns
grown active, and all securities arc again nd
yanclnE; the demand for goods has revived not
q little, and the tendency Of general prices is to
harden it not to advance
The summer season Is not favorable to very
active trAde, but there Is now promise Of more
thun usuul business during the warm weather.
and OF IN early and profitable autumn trade
Let us consider the conditions which determine
generally the business situation. The crops bid
fair to be excellent, rs good or better, on the
whole, as last year. They ure not beyond the
reach of drought or flood, or insect, but would
be borrowing needless trouble to count upon q
disaster. Cheap food is thus assured. What the
tore1&n market for os1r surplus produce may be
cAnnot be known at present, but we may he sure
that II the demand for food should 5e tight, that
improved: Thea we hnvc, in the returns Of rail-
road earnings, fine test of the ability Of the |
people TO consume goods; and an examination Of /
these figures shows that never before was there |
mand for staple manufactured goods is once
more steadNy good and improving. There is |
nowhere lnck of employment for labor, and |
the r'ate OF wages paid Is guarantee agalust
great extent the necessity for a waste Of public |
money III relieving those who might under other
circumstances, have been on the pauper roll. !
The events Of the last few weeks have rcassured |
those who feared disturbance Of our monetary
machinery from drain Of gnld to Europe. On !
the 1irst Of the present month, when exchange
was advancing, and most OF the financial
prophets were preparing the people for geld ex-
gold should he taken from us tho amount would
be very small. It Is now almost certain that none
Will go, On the contrary, the price Of exchange
is Mt the present time III such weak and de-
clining state that nobody will be surprised IL |
money were to be sent to us within six weeks.
But at all events We are safe from Il drtfn Of
gold, large or small, md no enterprise need be
by reason Of any apprehension Of
money StrfuRcncy, !