The daily gazette., 1881-06-20
Tne week IN Business Circles.

The Week I'm Business Circles.
Nothing has occurred really to af-
feet The financial and commercial sit
uation. in which asteady improvement
has been chronicled for long time
past. II we take the season of the
year into consideration, the condition
Of business must be pronounced excep-
tionally favorable. When the rail-
road traffic of the country is large and
increasing, general business, as re.
fIected through merchandise move
ments. must be good. Thus for IN
June the reported earnings Of the rail-
roads have all been good, and in many
instances they have greatly exceeded
the most sanguine expectations. The
most gratifying feature ofthe situation
is the fact that this increase in traffic
is not confined to any particular locali-
ty. but extends from the East to the
extreme North west and Southwest,
which proves conclusively that oil the
ramifications Of trade are thriving.
Aside from the prosperity of the
railroads and the aeurishing condition
of trade, there is still another element
which before long must enter largely
into the calculations OF the inventor
speculator. This is the release Of an
enormous amount of money now lock-
cd up in the Treasury and unavailable
in the loan market. In found num-
bers the Treasury will disburBe fully
SlOO.OOO,OOO Of money within COM
paratively brief period, that 10 IL the
Secretary decides to avail himself Of
the enorInous cash balances al his dis
posal. It is difficult to conceive how
even the remarkable Window can do
otherwise. On the 1st proximo the
Treasury must at all events pay off the
unextended SKIES of 1881 and the quar-
terly interest on the four per cent.
loan, amounting in the aggregate to
between e21 200, 900 and $22, 600, 900.
It is known that about $65, ,000, 600 Of
the unexpected registered fives will be
paid of, principal and interest, and
that at least sufficient amount OF the
coupon fives to make up the round
800, 100000 to be released from the
Treasury will not be presented ut
Washington. Therefore about $S2,-
900, 900 will certainly be thrown on the
market in the immediate future for re-
investment, while o further release Of
about $50, 0o0, 900 is merely question
of time. This does not take intO the
account the regular semi-annual inter-
est and dividend payments Of coun-
ties. counties, railroads and corpora
tions generally, which aggregate a very
large amount ant tho outflow Of which
will begin to be felt in less than two
weeks from to day. Rational beings
need no light as to tee inevitable effect
Of such an outpouring Of money upon
securities at a time snoh as the present,
when corporate property as a rule is in
excellent condition and the rates of
interest are tending steadily down
ward in all the maj kets OF the world.
Since the resumption Of specie pay
ments, that Is during the last two years
and o half, between $500, 600, 900 and
s4O0. .O0O, 600 of the precious metal have
been added to our stock OF metallic cur
rency. The influx of Immigration this
year transcends any thing ever witness
cd before. No longer ago than yester-
day the Census Bureau announced that
the acreage OF the crop products OF the
United States has exactly doubled with
In the past decade. AS the railway mile
age of the United 8 ates has also doubled
within the same period, 1t would seem
to be tolerably clear that we arc develop
ing freights TO be carried rs fast as we
are developing railroads TO carry them.
Our port entries also doubled between
1870 and 1880, rising, rs an Englsh sta
tiscian shows, from $3.50, 900 tons In
1s68-69 to 16, 1913 900 tons In IS78-7p. The
Uuitod States produce to-day one half
the gold supply and one-half the silver
supply Of tho world, aud We produced
In 1880 more than twice Ms many tons of
iron ore as IN 1870. OF the mining In
dustries Of the world to-day the United
States represent more than one third,
the exact proportions being 80 per cent
for the United States to 80 per cent for
Great Britain and 81 per cent for all
other countries. Meanwhile the rsla-a
I've burden OF the public debt has di-
nearly one half In the United
States since 1870. The ratto.of debt per
which was In round num-
bers $64. .60in 1870, was $38.26 in 1880,
while the ratio of interest per inhabitant
fell from $3.50 In 1860 to S1.50 In 1885,
World. ia