The daily gazette., 1883-06-15
The s usIN Ess OUTLooK.
Indications of q General ''LeSting Down
But BY n Gradual Process.


Indications Of . General 'sLeUting Down."
But by Gradual Process.
tAmdrican Manufactured
The most favorable estimate Of the proba-
bilities of the cbmiue season, as regards the
course Of tradeD permits us TO hope, not that
the near future will be prosperous, but that
tue tendency III the opposite direction will
mot be violent Or the changes sudden. There
is visible evidence on every hand of u gen.
efal letting down, and the beat the country.
can reasonably ask, as the case now stands
is 10 be let down easily. That this will be
the outcome oil the existing situation 10 ar
gned from the facts that speculation some
time ago received q check, that railroad
building, which is itself 9 sort OF dealing In
cultures" ON d colossal scale has diminished
very greatly, and that all classes OF business
men have been for months past shaping their.
affairs TO meet season Of depression. Fore.
warned is foreRr med, II the warning is heei.
ed soon enough. The weekly list ofiailures
shows that many firms did not realize the
danger ahead until IL was TOO late TO prepare
for It, B ut the una jority OF merchants and man.
uiacturers have undoubtedly been getting
their business into safer proportions, and
have used more caution aud Judgment In
their transactions during the past few
months than has been usually the case
| the country through. As for the crops Of
the present year, 1t is now apparently GER
tain that no such abundance as, that of last
year will be enjoyed; yet there will be no
actual scarcity. The wheat cropwill fall
short OF the Yield OF 1882 about 100, ,000, 600
bushels. The export demand will perhaps
be sufficient tp absorb the diminished sur
plus; and any shock or convulsion proceed.
ing from the conditions of the export trade
Of the country as now manifest would be
an effect without any apparent cause. This
is perhaps the nose hopeful view which the
facts before US will warrant. 1t does not
by any means imply prosperity such as the
country has been accustomed TO expect. It
is. equivalent, perhaps, to a, rational hope
Of safety, OF exemption from over
whelmlng disaster; and this is,
under the circumstances, ample ground
for thanktulness. The important t
part which the farming interest plays In de-
| termining the future of trade is strkingly
shown by the eager anxiety with which the
crop prospects are watched. mere ru-
NOR of damage in any section OF the country
is felt in all the exchanges, and influences
market Tor all kinds OF commodities. The
fact, to which we have SO often called atten-
tion, that three-fourths of the domestic ex-
ports OF the United States are drawn from
ibs agricultural lhhubtTg lb thoroughly un-
derstood, and its significance appreciated by
those who have attentively studied the sub
| jeet and who have large interests at stake.
Not only is it OF vital importance to the vel
fare of the whole nation that the farmers
should have hn abundance for home con-
| sumption and a liberal surplus to sell
abroad, but it Is no less essential that they
should be able TO produce that surplus with
such economy in cost as will prepare them
to compete with their dillgent and tormid.
able rivals, the farmers of England, OF
France, of Russia aDd of India.