New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-01-01
In rcmarking on the above fgur


Agency in its annual circular says
The above figures Indicate A material increase IN the
number Of failures for the year 1881, and growth IN
he loss by bad debts considerably over laht year An
indication of this sort hardly be interpreted 10 be
favorable sign TO the condition OF the country, yet
when comparison Is instituted between the failure
figures Of last year and those of previous years for in
stance 1873 il will be that In the proportion they
bear causuaes OF that and previous years, both
the number OF failures and he amount OF liabilities
the restis not unfayorable 1t should also be Teoo
looted that while the failures and liabilities OF 1881 arc
only slightly than One-haf those OF 1873, the vol
of trade probably now four or five times as great
ii them while the number OF persons engaged III
business certainly eighteen to twenty-five per cent
gagged IN business statistics show that IN 1876 the
failures in every 90 persons; IN 1874 one III
in l5s; while in 1881 the proportion was one in l4O
advantage in favor of the year just closed over the
average of years therefore very marked
The circular very fully reviews the condition OF bust
regarding future grounded upon the experiences OF
lS72S73 The conditions which preceded the last crl-
enormous extension OF trade, great expenditures
railways and public works; increased CROWN END
case Of ere ill., illustrated by the large lOaus OF the
banks and general disposition 10 ock quick capital
in assets of uEreaZcd character TINS iecnnS oil APP
Inc grain crops in the Wes III The exports;
Increase in imports the large reduction III the earn
ms of leading railroads involving lcssened income
the Investors this class of property, and the
decline in the reazable prices of securities represented
on the stock Exchange, as compared with sn months
ago While il is true tnat all these elements are sugges
tive Of changing condition OF things II If doubtful II
they be Interpreted adversely 10 the general pros
peity OF the trade OF the country. The extension OF
business seems, every hand TO he OF most healthy
character There s little or no accumulation OF stocks
OF ufdcturcs n an! o lty, while IN numerous de
activity orders FAR ahead OF the greatly
increased productive power. Though 1t Is truc mat
grain crop has not been up to Its usual average II should
mind that FOR several ample
wards realized by the agricultural community;
while nearly all products exec grain, the yields Of
previous years been main taed. Prices, too con-
tnue high that The result to the agricultural producer
is not far snort VI the average Of late years
with regard to the extent OF railroad building, IL
slOud not forgotten that the vast undertakings
in longer the result as in previous years
OF oca effort and local Indebtedness but mainly
achieved by individual capitalists, win large follow
ing aud consultations OF existing III
tsrests almost invariably without calling upon the
Chiefly benefited for material ana III the con
bonded Indebtedness Tor railway purposes s Iar less III
prOporOn thar II in 1873. 80 lar rs the volume OF
Indebtedness s concerned tho general Tendency now is
precisely opposite THAT IL in 1872 and tue reduc
ton OF the National debt Id no ss married than thst OF
almost every municipality in tie country. The amount
thus set free hAS gone into circulation ana I'M
proyemenLs not only Immediately Denening trade, Dut
permanently adding tie NAueOi property by the addl
tuna facilities Afforded. 3d. tOO Wan regard 10 private
obigaons Wequeslion very much whether the lines OF
credit the internal COuacc Oi the country nave In
creased anything Ike IN proportion 10 the growth OF
trade IN years, aud certainly our Indebted
ness abroad Ii much less than IN 1872 There II
ground for anxiety that the failures IN the Wcst AMI
NoTth may be somewhat Increased, owing to the
condition country roads, caused by the extremely
mid the absence OF frost, Ihus interfering
with the deliveries Of produce, the extent ~ business,
and tho collection Of outstanding. Ii is said cOntinu
ance Of the present temperature Tor thirty days viii
greatly retard Dusinc7h ana tax the resources or the
weaker bouses. On the other hand, sharp winter
ing about the good results expected from such large
and increased Voume Of trade The Key TO The mqedi
atr situation i'll this region Is, therefore In the ee
ruents.y