National Republican., 1884-05-08
The HnsIness Outlook.

Tho recent collapses in Wall street have
turned the attention Of the philosophers and
theorists to tho financial aud commercial
outlook. The Now York World of yesterday,
in an editorial on "Tho Bursting Of Bubbles,'
says;
There Is no danger OF general financial panic.
| The people are solvent aud have not, as rule
been engaging In wild speuulations. Tho mon
who suffer are those who have fallen victims TO
the craze of magnificent stock operations and the
rapid accumulation OF enormous wealth-who In.
dulge in the dream Of holding railroads in tho
palms Of their hands aud counting their fortunes
by the dozen millions.
The Baltimore Sun, in thoughtful leader
on the Business Situation" remarks that
The present depression Of values and inactivity
throughout the commercial world is q natural re.
action from the undue expansion aud ieyerish
movement Of a few years ago. Business, which
has its storms has also its calms, during which
the exhausted forces Of trade have opportunity TO
perfect the tedious processes of repair and recu.
pcraiion. Hence the great decline In values.
The american Grocer and Dry Goods Chronicle
gives tho following nstan ces of shrnkages in
values since 1850:
rig lIou lIOul SoD 10 SZJ per tOu steel rallS from
$50 to $50; copper from . to IL cents per pound
lead from 6 to cents per pound raw sugar from
8 to 5la cents per pound wheat from sl55 TO 81 (:
corn from 10 to 30 cents per bushel; mess pork
from $3.50 to sl6,5o per barrel.
The shrinkago in Now York exchange
stocks it estimates at S16O,OOO,OOO, or q sum
greater than the interest bearing debt of tho
government. And the Same journal thinks
that
Prices have reached their lowest level The
excess ofsupply above demand is being gradually
reduced. 1t is probable therefore, that we arc on
the eve ofanother commercial wave that will lit
US to high degree of prosperity.
The speculative situation is somewhat an
alogous to that of tho heroine in "Sonnam-
bula," who has done many things in her
sleep which sho wonders at in her waking
moments, or the traveller to whom flash of
| lightning reveals dangers which had been
hidden by the general obscurity of tho
storm. The American is born specula-
tor From his swaddling clothes to his
grave shroud he will be either long" or
short of everything known to sense or
imagination. He is only aroused when a
bank breaks or he is called upon for moro
margin"
But the country has been growing stronger
by the steady development of its wonderful
resources. Were il not for this fact it could
never have weathered tho numberless unto.
ward events which crowded thick and fast
lilo ilI-np,annl hir1a unon tho boalu Of Droc;-
dent Garficld's assassination. So we are in
clined to believe that there will be no great
panic. Values may continue to peter out
and spectators so down, but legitimate busi-
ness interests arc safe There is in the gem
eral situation sufficient to justify ordinary
prudence, but not to retard proper enterprise
and business thrift.
Hero in tho national capital there is
evorything TO inspire confidencn. Not de-
pending upon any great commercial inter-
ests we can look with serenity, mingled with
sympathy, upon the wrecks in other commu-
mites. Tho tabulated exhibit of our home
banks, made in yesterdays REPUBLICAN
shows them to be in superb condition and
ref ects credit upon tho men intrusted with
their management. Local securities, while
in some instances high pay fair interest to
the investor, and possess the added merit of
security. Real estate, which has reached
good figures in some quarters owes much of
its advance to the fact that it has been and
still is being bought and paid for by people
who believe that Washington city has great
future, and who, therefore, select it both as
home and place for investment,