Omaha daily bee., 1883-01-11

opponent OF most OF the lines Of pol
icy to which they stand committed.
THE YEARS FAILURES.
r. g. Dan e. Co. 3 annual circular
to the public attributes the Increase Ia
failures during the last year almost
wholly to the extension of credits
Six thousand seven hundred and
thirty. eight business difficulties are
reported, with an aggregate liability
of SOL, 000, 900. This showing is the
worst of any year since 1873, when
10,478 firms were reported as falling,
with liabilities Of 1894, 1888, 1872. For
the past three years the list has shown
q steady increase, from 735 failures
in 1880 to 6,73S for last year. The
mercantile agency from whom these fig.
ures are taken states that during the
past two years the lines of credit have
been greatly enlarged, owing to over
production In manufacturing and an
undue anxiety to dispose Of goods
without properly acrutiuizing the abil-
lily to pay for them, Manufacturers
made the mistake of s~upposing that
the volume of business for 1882 would
be maintained at a ratio of increase as
great as that which marked the recov-
cry from years of depression, economy
and restricted business to a state of
the highest prosperity. The anticipa-
tions for the year were not realiz ID,
and the country has had the result of
the error In stimulated credits and
increased failures. In this country of
rapid development business cannot be
30 regulated as to avoid all risks Incl
dent to the credit system, but there
can be no doubt that much of the
risk may be avoided by a judicloua
discrimination on the part of those
having goods TO sell. Messrs. Dun
d Co. express the opinion that sit
merchants would study the lessons
Cleaned from the past they would, as
a rule, fad that a great deal more
money is to be made in the long run
by q stringency in credits than by
an unwise expansion on the
basis of trust wisely dttfused,
even at a great apparent profit"
Not withstanding the er.orS and blum
derS of the year just gone by, Messrs.
Dunn 81 Co., feel disposed to take a
cheerful view of the prospects con.
nected with 1883. They say:
ga year of %unbounded production
in almost every department of indus
trial activity has just closed; the &C.
cessions to the population by immi.
grafton have been beyond all proceed.
emit; the late autumAal season was 30
extremely favorable as to add greatly
to the value Of the focks and herds
scattered over the country, while the
early winter, thus far, has been ex-
tremely propiticus for numerous in
terests. Legislation In congress
promises to be highly advantageous
to the future ease and freedom of
business. The possibility of a reduc-
ton in taxation by the removal of
internal imposts, and the release
OF vast sums of money hitherto locked
up for the payment of the rapidly de-
creasing public debt, must all tend in
q direction to not only lessen the
burdens under which business In some
departments has struggled, but to be-
get ease and activity generally. AS
yet the farming community have rea-
lied but a very small portion on the
vast stores with which the year has
r~eplentahed their granaries, and the
exports, which already begin to climb
to very respectable dimensions, must
necessarily vastly increase within the
next few months. Railroad earning,
must grow in proportion, and the
whole condition Of the commerce oil
the country promises a greater safety
magnitude, and success, than hav,
ever before been attainable-"