The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1884-10-16
Business.

There are a good many business
prophets abroad in all times, wheth
er of prosperity or dullness, and
most of them are umitigated hum
bugs. No writer and student of
the currents of commerce and the
conditions of labor and production
can more than forecast the futare,
when the situation is fixed and
must remain fixed for a considera-
BILE period. If there is any season
of the year at which a fairly plaus-
ible prognosis of the general bust
ness tide can be made, that time is
in September. The volume and
quality of the great leading crops
are known or may be closely APP
proximated. The financial medi-
um is not subject to fuctuation in
it's amount or purchasing power.
The policy of the government as it
may affect trade is fairly steady and
certain to 60 on It's even tenor. Up
on these broad and ample pIemis-
es, supplemented by full insight of
the current and its strength and
weakness, it would not appear pre-
sumptuous should we endeavor to
tell how it will be apt to ebb and
flow for six months or a year to
come.
The present state of business is
one best described by the word
sluggish" Profits are so small
that there is not much inducement
to take risks in merchandising or
manufacturing. Crops are unpre-
cedentedly large, demand for export
is light, prices are low. Manufac-
lures are as much over-done as food
supplies, and prices of most articles
are at bottom rates. This is the
general situation in September. Is
there any prospect that it will be
better in the next month or the
next? If there is we cannot see it
in anything present or in the things
which, in due course, are pretty GER
tain to happen.
There is plenty of money, and
when good security is pledged it
can be had at very low rates. We.
hear the policy of the national
treasury is to be changed from
boarding to turning loose accu mu-
lations as fast as they are collected.
& secretary, "they say" will sue
ceed Mr.. Folger who will cut the
money in the vaults down from
$1SO,000,0O0 to $I50,0O0,OOO, or
about that figure. Will the mere
dumping of currency on an already
redundant supply benefit the com
merce of the country? When mon
ey to the amount Of $30,000,000 to
$40,000,0O0 lies ia the banks of New
York with the call rate at 2 per
cent, what effect will the doubling
or trebling of this monstrous re-
serve have? Clearly it can only de-
press and embarrass the situation.
1t is not more money the country
needs, but profitable use for what
it has.
There will be marketed and con-
sumed at home and sold abroad in
the next twelve months not less
than 5O0,000,000 bushels of wheat,
1,600,0 ,000,000 bushels of corn, 5000
900 bales of cotton aud full sup
plies of pork, beef and other food |
articles for men and animals. Such |
tremendous quantities to be handled
must give labor to a great number |
of men and involves very large and |
constant exchanges of values for
cash or credit, but with corn at 40
cents, wheat at so cents, cotton at
10 cents, and other things in pro-
portion, the handling of them must
be by low-paid labor and the profits
are bound to be meager.
The foreign demand tor our sur
plus does not promise to be large.
Great Britain and Europe, our chief
meat sand bread customers, have
not the means to buy literally if
they need to, which they do not.
Crops on the continent and in Eng
land are better than usual, while
Australia and India will have more
to sell abroad this year than last,
when they seriously interfered
with the American export business.
The fact seems to be that the
world has got ahead of its normal
wants and must wait until con-
overtakes production.
How this will be done can only be
,onjectured, but that we shall have
4 dull time of it for about a year is
ls certain as that the world lasts
hat long. There are now more
'ailroads than can be proftably OPP
and men with money will
lot build new ones; the iron busi-
ness projected to meet a railroad
boom is a half too elabo-
ate for present demands; all who
nave money in furnaces and mills
ire trying to find way to make
,he investment yield profit, and
,hus prices go lower and lower, be-
,ause of over supply. These are
samples. Everything is in the
'ame condition. The country must ;
get to more favorable conditions
through the survival of the tittest
both in commerce and productive
and the process of reach
ng such conditions is likely to be
If slow Oneration on.-Tradesman.