Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1883-07-27
OLYMPIA. WASHINGTON TER.
OLYMPIA. FRIDAY EVENING, JULY y, 1853,
The Business Outlook

SEQ, of the Mercantile Agency.
dated on the % instant, gives much
interesting information relating to
the business of the country during
past half year. The table of failures
shows a marked increase in the num-
Der and exten. of revsrses for that
period over like period of former
years.
In the Cnited States for the first
half of 1853 they are IN number,
4,637, as compared with 1861 in the
corresponding period Of 1882, and
1882 in the first half of 1881. The
liabilities for the first Lalf of the
present year ale &c millions as
against so millions for the first halt
of 1882, and 40 millions for the first
half of 1881. The magnitude of the
increase is startling, in view of the
supposed generally prosperous con-
dition of the country, though some
comfort may be derived from the
fact that a very marked diminution
is noticeable in the number of disas-
tiers occurring in the quarter just
closed, as compared with the first
quarter of the year.
The promise at the opening of the
year was certainly quite as good as it
is at present, with far mere certainty
as 70 the amount to be realized from
the exchange of staple products then
in hand, and yet the half year has
been one of very general disappoint-
ment. Failures have not only been
numerous, but have involved large
liabilities. These disasters, tax. n
in connection with the general con-
dition that exists, imply d range.
ment in our commercial and financial
system which it is difficult to account
for, in presence of so many features
of marked prosperity which prevail.
It is true that not a few of the
disasters which have been noted are
the results of most injudicious specu.
lation, an1 that numerous failures
are directly traceable to departures
from some weli-hnown principle for
the conduct of sound business. 1t
is equally a fact that the large
amounts of money locked up in un-
available assets, and withdrawn from
the regular channels of business,
make many traders dependent upon
the accommodation or forbearance oil
those with whom they deal.
The Circular continues: The diff.
culties of the hour seem to reach a
widor range than is even indicated
by the failures, for, Notwithstanding
the prosperous condition of consum.
ers generally. large returns from
agricultural pursuits, good wages
active export demand, and large
immigration. the absorption of goods
seems to be very small in proper.
ton to the production, while the
profits On merchandise and in bust
ness generally are in q much smaller
ratio than might be expected under
such circumstances. Excessive com
petition, unwise production, the
expensiveness of living and doing
business, and the restricted demand
for goods, seem to be the main evils
which beset the mercantile commu
nifty. So far as the productive ani
absorbing power of the country
itself is concerned, it is difficult t
imagine circumstances more favor
abe than at present exist. Distinc
tive trades, it is true. are suffering
from various disabilities, but it is ths
result more of some special circum
stances, which have been brought BY
transgressions of the true principles
Of business, rather than by want o
ability in the country to supper
legitimate industry in any line, ant
to consume and pay for rapidly any
reasonable amount of merchandise
The growth of the country is unde
niable, and not only sure. but rapid
and it is not improbable that in I
very short time the demand for pro
ducts will grow to the extent of tn.
present production. Waiting fol
this condition of things seems to b.
about the only sure remedy for thu
evils which now seems most prevs
lent in orr internal commerce
Possibly some adjustment may be
reached whereby an export demand
for our manufactures may be created
on q scale which would affect thu
general conditions of trade here
This, together with the constant
growth of the vast home market
which the country possesses, will
afford the only solution possible to
the present unsatisfactory condition
of business.
In the meantime, those who are
content with reasonable returns, and
pursue q legitimate business policy
in selling goods only at a profit, and
to those who are able and likely to
pay, may certainly indulge in q rea'
sonable hope of success, in view o.
the favorable reports of the crops