New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-01-01

The circular letter of r. G.. Dun Co. says:
That over 5000 traders have failed during tie year
l-~S. is % circumstance of marked significance. The
number l. greater than In ans Eear since ISIS. which
Wa, the eliminating point of live year, Of depression and
Nluidarion succeeding the panic or ISIS. A. compared
with 1873. the circumstances OF l-~ widely differ 10
would have been impossible To expect anything else but
disaster, IN ISIS rs the result OF many year, OF loss dc
probation OF assets and exhaustion with restricted
mpcndng rcpca OF tie r@nS snlpt law Which,
TACT caused I drcd- in bushes, TO fail because OF her
anxiety 10 avail themselves OF clearance rom lh9'o'
cdue~s which prcNou, Years 0i misfortune ad rendered
condition OF things is found The country Is IN the high
est degree phosphorus, so far as productive force, are
concerned The development 81 large portions OF tho
continent has gone forward WIN great lamalG In I9e
W,- and in the Northwest, While IN the -Ouih steady
MoMta , o n, tir ri. S and the fng
cIIt problems which formerly H,etcucd the country
seem To %. working thc-cyc, on without agitation or
loss. succeeding several Ntti, oil IhM3h'l i,"-lt..,,
large uum grafton and great growth, the starting lart
failures occur in twelve months.
Under such circumstances, the inquiry Is most
The opening year. IT, with all that has happened I'D luo
past OF favorable character disasters OF ,uCl hi5m-
OF confidence which these cl.amitr- have caused WIN
restricted credit accommodations c''chcd 1U,lhr,, al
daily experience These consideration, force them-
selves upon prudent business men ana tue result j.,
tend u Increase but which, when the cirnum-inc le
AN considered. ought not To seriously alarm the com
nuuity or create di~r~t among bankers and others IL
r H. aSse he numbers OF trader doing business las
Increased i'm am almost similar proportion IL l. true
that as compared with l,>On exceedingly prosperous
,T ,v,.n there we're less than 1000 failuIcs-thcy
about double In -S3 tut the last three years have WI
messed greater increase in the number or people VINO
Goye zone into business than any three years IN the his
tory of the country. This circumstance alone Will dr-
count in no small degree Tor the cNc'"Nt number "I
small failures 80 that not only now rcapihs the
harvest " hch was bee expected from the undue cNp-
sion OF 1850 but also al the results 81 h'Ict tp'''H'
unfortunate speculation outside Of legitimate business
inexpcrence aud. above all the result, OF oYerWooHc
ton which really seem, to Ice the chief cause OF uI
ouS disasters. Unlike previous years III %Nlch h,.-
camille casualties been most numerous, the county,
far from presenting symptoms OF exhaustion, seems ID
lack single element coutubutoy To It's CROWN 'Au
IT, by a departure from legitimate business principles,
the disasters which are ctonlclcd have occurred 10
remedy lies within comparatively easy reach. Nulh'l-
Gus failures ought to extent lessen the competition
LltLcrto prevailing, and If unwi,e settlement, ae
avoided another source Of trouble will itself Spec
uation in Ks, grain oil andihcr products has been
diminished and the troubles which have been directly
the result of this tendency will lessen largely e n,
position Tor ventures outside oil oioui!u! DIS!i'S, Mlo
margins lost or locked mp dcplcte the aWS 0t moss
having mclmaOns TO speculation to assume even Odh-
AIRY business RISKS which might eventually prove u'
great for their capacity The dlHcuy or securing ct
tai for almost any KIND Of enterprise will lessen tne
ability to lock up money which IN ordinary times "oud
While ON the one hand the disasters OF the year that ia
closed have shown weak spots in the commercial fabric
which were least expected IN prosperous times, there arc
uudeniahlc evidences Of stability and prohl existing
Which few occurrences MAKE Pupu'' IL j. N"' TO H1y
that there j. to-day in the United states greater mum
her successful business men than ever before; thI
there are numerous u'ai M'nlS 81 nl'''u ", ~ ~ 49,,
trade which are yielding liberal return, ih toIIoIa
uro.parouS beyond what they nave been before IN
their history aud that monetary institutions hroughouJ
the land generally ratc and paying basis, VIZ
nm iunuE OF natural with people trained %
dcvroI them to their utmost With facilities 'i uHHS
portJtiun amt communication oi an ulrluaI'" 'uHHll
actcr with a currtucy secured and uupue,uoNr' VIE
the National debt decreasing win great ldlHS anu
Ntha >urpu, revenue large rs 10 DE tlI'dl ','i"-
with al. these elements OF great ana -uc't>,Iu !"
surely thrlc ought 90 bc no doubt a. 10 the hp'o "a
renewed confidence and renewed ""o 'o'D'A ''' i''
pcrlty. 1890. ,.5,
The failure, for tweny-scycu years from 1917 10 100
inclusive with the amount OF Iihil ties are ' en- rs 'o'
laws, the Ggu.e, from 1852 to 1868 being incomplete: