Savannah morning news. [volume] (Savannah) 1868-1887, 1882-01-04
Rnssnass nnflonk for ISIS.

We have received from the Bradstreet
Company of New York a circular con-
tanning set OF tables giving the
mercantile failures for 1881, with COM
parsons for 1879 and 1880, compiled, as
far as may be, from telegraphic reports
received up to the close of the year just
passed. These tables show that the
mercantile failures for the three years
mentioned were as follows: For 1879,
6.652; for 1880, 1850; for 1881, 5,929.
For 1879 the liabilities were SOC, 6S6, $40,
and the actual assets $4S, 905, 176. or 40
per cent. For 1880 the liabilities were
$57. 100, 995, and the assets $27, 43O,O or,
OF As per cent, while for 1881 the liabili-
ties were $40, O94 667. and the assets
SS5 964, $50, or AZ per cent. It is thus
seen that the disasters for 1881 outnum-
Der those for 1880 by 1879.
The increased list of failures for 1881
are not attributed to an unsound state OF
business, but to other causes. 1t is
claimed that the business for 1881, taken
altogether. was the most active in the
history of American trade, and as bust
ness failures are as natural and logical
results of active business as are deaths in
the human family, so a greater number
of disasters are always to be expected
when trade is at the full, inasmuch as in
seasons of activity there is greater temp
tation to risk ill-judged ventures. "The
year 1880" says this circular,
marked the period when the wrecks
consequent upon the panic Of 1873 had
been tly cleared away. and, therefore,
the dls slers Of the year we've comrera-
lively Jew So be sure. Ia tne ate
autumn 1870 lha tide turned, and Ga
other crs Of ir5 uil and trade pros
ps-tty Which j oaly nov reached as
full. wac -st-red .n But animated,
at the close u 1899 ventures had not
come to the trial test. At the outs
overtrading marked the course Of bust
ness, and especially in the iron trade. In
consequence failures were comparatively
numerous in the spring of 1880. Sue
ceeding this furry the course of general
trade in the United States has eyinced 3
noticeable spirit of conservatism. This,
in spite of the fact that speculation in
socks and the staple products of the
soil has been at times exceedingly
violent"
Another reason why there has been such
a marked increase in business failures,
especially in the last quarter of the year
Just past, is that balances have to be
struck at the end of the year, and disas-
tiers always become more frequent when
that period draws nesr. Then it is that
settlements have to be made, and money
raised, and naturally weak houses, which
have been enabled to stagger along in a
feeble way until required to settle up
find themselves unable longer to breast
the storm, and are forced into bank
ruptcy. There is nothing in this, how
ever, thinks this circular, to cause alarm
beyond the fact that possibly through
over commitments the condition OF a
radically unsound state of trade may be
forming. So far as can now be seen the
outlook is for continuation of the pre-
sent business prosperity, and if the same
spirit Of conservatism alluded to above
as having marked the general course Of
trade during the year is continued, there
is no good reason to fear that this pros
perity will not be indefinitely prolonged.