The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1884-09-16
GOOD TIME COMING.
The New York SUMS Wall Street Man
on Business.
Abundant Crops Ali Over the World
The Problem of What To DO
with Them 90 Want of
Confidence.

NEW York, Sept 10 The Suns Wall
street reporter says: That revival in bust
ness must come is beyond any doubt al
Though it may take some time in coming.
The abundant crops all over the world must
make food cheaper and cause wages to 60
longerway than before This will naturally
give an impetus to all branches of trade, and
the profits accruing from it will seek invest
ment All this is A B c, and there is nc
need of dwelling upon it, except to show
the exceptional condition in which
this country finds itself, To begin with it is
not enough for us no have big crops-we
must find a market in which to sell them.
This is the trouble with all agricultural coun-
tries. Russia, India, and Australia are in
the same position, only they have the ada
vantage over us of cheaper labor and less ex-
tortionate rates for transportation and spec
ulative storage In any Of these countries
big crops without an outlet for them are oc-
casionally liable to prove a curse instead
of blessing. 1t is quite different with man.
ufacturing countries like Great Brit
ain, France, or Germany. Big crops
at home mean with them so much
less money paid for breadstufTs abroad, while
coming i'll from an increased demand for
manufactured goods So, for instance, in
1879 England had the poorest crops of the
last decade, yet the revival of general bust
ness was surprising. The reason of this was
that other countries including America,
had abundant crops, fed the British work
man cheaply, and took in return an unusu-
ally large amount Of the products of his
labor. This essential difference be
tween agricultural and manufacturing
countries ought TO be kept in
view by those who try to start speculative
booms upon bright crop prospects. 1t is not
enough TO produce much grain; the selling of
it is quite as important a part of the opera
ton, and there can he overproduction in
articles of food as in anything else.
Another all-important point to be taken
into consideration in connection with this
question is the constantly growing want of
confidence at home, as well as abroad, in the
management of our financial and corporate
institutions. Last week another bank went
down and terrible black eye was given to
the Erie by the report published in England.
How far the want of confidence is spread
ing nowadays can be seen from little Incl
dent which occurred on Friday last A
block of the stock of one of our most re-
| spected banks having been pressed for sale
| by a former millionaire recently crippled in
some of Louisville & Nashville speculations
| caused the price of the stock of the bank tc
| be marked down. Probably the marking
| down was done purposely by those anxiou.
to buy the stock, yet the fact was sufficient
| for most damaging rulnorS to lie started il
regard to an institution considered to be ont
! of the most solid in the country.
Mr. Hicks Arnold, OF the dry goods hous,
! of Arnold, Constable & Co, on beng ques
toned regardrny the outlook in the Gry-good
trade, replied: Il think the business fcelin!
| is better throughout the country than in thi
city. The country merchants lost no money
in Wall street, and a crops have turneo
out well they are ready TO buy
But the wholesale trade is very lat
compared with last year, This shoult
be our busiest time, but a great many buy
ers are holding back, apparently waiting 70
| the weather to turn cool As for our autumn
retail trade it grows later every year S
many Of our customers are away at the sea
side and country resorts that it makes tn
retail business slow as yet. Nevertheless
expect to see business brisk in few weeks
for the general outlook is good for it. Good
are lower in price than year ago, as a rule
Especially in silks the low prices are unprt
cedented"