The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1882-01-03

ommcrc OF the country have increased
anything like in proportion to the grow,n
of trade In the last two years, and certainly
our indebtedness abroad Is much less than
In 1879. On the other hand, there has been
a development Of the productive forces o,
the country which has never been equaled
In the same time. The steady stream OF
immigration which has flowed TO U
shores, the opening up OF new regions ior
cultivation, and generally the favorable
conditions which prevail for the develop.
mcnt and growth OF material resources, all
point In the direction Of continued pros
perity. The large decline in the rates
for transportation OF freight and pas
sengers by rail Is a benefit Just
10 that extent to producers and con-
sumers alike, while the decline in the value
OF securities largely specialized in may be
a preventive OF the calamity which some
seem 10 anticipate. az the result OF the
activity which prevails in other depart
ments OF commerce, but which are really
unaffected by the rise or fall Of values on
the Stock Exchange. There is some
ground for anxiety that the failures In the
West and Northwest may be somewhat IN
creased. owing to the conditions OF the
country roads, caused by the extremely
mild weather and the absence OF frost,
thus interfering with the deliveries OF
produce, the extent Of business, and the
/ collection OF outstandings. 1t Is said q
/ continuance Of the present temperature
for thirty DAYS will greatly retard business
and tax the OF the weaker
houses. On the other hand, sharp winter
weather the next few weeks will go far to-
wards bringing about the good results ex.
pected from such a large and increased
volume OF trade. The key 20 the immedi-
ate situation in this region is, therefore, in
the elements. ..
Notwithstanding these local conditions,
the main result as seen from an agency
point of view is favorable. II is reported
that the losses by bad debts in the year
which is now closing bear but q meagre
proportion to'the profits realized In legitl-
mate trade. The additions which have been
made to the Surplus OF almost every pru-
dent businessman are larger than have
ever been realized in any previous year,
and that this increase of surplus is more
the result Of honest, Legitimate profit than
OF any speculative success must be univer-
sally admitted.
The circular, which il very full and COM
pletf I'LL It's sIiIistiCdi uCb"hH, NVhNi"NN" :"
follows:
The political and financial outlook seems
equally without a disturbing element.
With some additional legislation by which
the laws relating to bankruptcy can be
regulated and made uniform, and with IA
yorabie conditions as to weather, crops,
and trade generally the opposite Of which
there is no reason TO anticipate-the pros
pect for the future seems certainly mosl
promising. 1t is true that failures may in
crease and individuals suffer the peDaltie:
of a departure from legitimate business
principles from undue competition OF
unwise expansion. Some will by fail
ure seek to increase their store,
and still more may be the victims Of
loss OF confidence, the result OF the alb
sence OF a protective law. But that these
casualties will be large in proportion to the
number of people engaged in business, OIL
to the magnitude Of the transactions, seem:
as unlikely now as at any time in the last
four years. The prospect is that, as com
pared with any other country in the world.
failures will continue not only to be les:
numerous in proportion TO the number en-
gagged IN trade, but far less in amount OF
average liabilities, and in a far smaller ratio
to the extent Of business transacted, so thai
the safety Of the mercantile, manufacturing
and banking communities may be set Gowr
rs better assured than that OF the same
classes in any other country.