The daily gazette., 1881-08-20
Prosperous Times.
From the N. Y. Sun.

From the N. Y. Sun.
These are undoubtedly prosperous
times in the United States. In the
city an exceptionally large amount of
business bas been transacted for sum-
mer, and, favorable weather aiding
them, the merchants in some depart
menGs of trade have been so closely
occupied since the season began, that
they have been able to snatch only
brief vacations.
Throughout the country the same
activity is displayed. An abundant
rainfall has kept the streams of New
England we'll filled, and therefore the
manufactures which use water power
have been running on full time and
those whose motor is steam are driven
to their utmost capacity to meet the
orders they receive. The prices for
labor are more than usually satisfacc
tory to the workman, so far as at pres
ent appears, and the manufacturing
towns everywhere give evidences of
prosperity. The outlook for the crops
is also good, and farmers are ready to
pay fair wages to men who will assist
them at harvest time, and yet in many
of the agricultural regions they are
complaing of the lack of farm hands.
During the last three or fou. years,
toe, many new fortunes have been
made, chiefly through Wall street
speculation, and, as a rule, the old for
tunes have been greatly increased
Landed property in the city has rap
idly increased in value, rents have
gone up, and the demand for houses
of all kinds has been unusually active
this year. Whoever bought stocks or
bonds or land or merchandise at the
prices which ruled during the period
of depression after the last great panic,
and held on to them long enough, was
sure to make money.
1t is, indeed, prosperous time, a time
when gains are great and frequent, and
losses comparatively small and few
Wherever failures have occurred during
the last two years they have usually
been due to exceptional carelessness, tc
wild speculation, or foolish extension, or
as In the iron business, to overtrading
born of sudden and startling prosperity
So much money, indeed, has been made
that men are at loss for ways to invest
1t.
We are the most prosperous of the ma.
tions,at least to outward appearance, and
our exports continuing 60 exceed oul
imports, we have become creditor peo
pie and that makes exchanges favorable
to us, and brings gold to our shores
Money, therefore, is at low rate OF in
terest. 1t can be obtained on mortgag
for from four to five per cent. With cap
ital SO abundant, substantial enterpris
does not lack for stimulus, and shrewt
and daring men are encouraged to de.
wise means for getting 1t from those VIII
are its fortunate possessors. New rail
roads are putting forth bonds by th
million, and we are laying the iron rail-
at rate which has never been paral
leled.
Yet at the time of abundant money %
active trade, of busy manufacture, an,
audaci0us speculation, we receive lette
from foreigner, who has come to thl
country in the hope of bettering his con
dition, telling us that he can find d
work, can get no money, and mus
either starve or undertake TO beg bi
bread by going about as tramp. Hi
case is not peculiar, and therefore W
give his letter, in order that phllanthrop
lists may have chance to discuss an
propose methods for the alleviation c
the class to which he belongs.