Morning journal and courier., 1884-01-03
SOnrnaI aab Gotrrier.
SINGLE COPIES THREE GENTS.
Thursday. January 3, 1884.
ALOOK AHEAD.

What will the year 1884 bring forth is 8 I question which is disturbing almost all busi- ness men. The year which has just closed
 wRs year of continued and increasing de- pressien in many branches of business. During 1883 there were over nine thousand bankruptcies, with aggregate liabilities amounting to nearly one hundred and sev- enty-three millions. There was a greater number of business failures last year than in any year in our history, with the exception of 1878. In 1878 the failures numbered 8 little over ten thousand. The amount Of bankrupts' liabilities last year doubled the amount in 1879, tripled 1880, more than doubled 1881 and exceeded 1882 by $73, 0oO, GOO.
 These are not cheering figures, but they should not be taken as indicating that every thing is going tothe dogs. One of the conner cial agencies that reports them finds some en- couragement in the fact that notwithstsnd- ing these failures there are numerous de- psrtments of manufacture and trade which gre yielding liberal return, that corpora tions of immense wealth, influence and use- fulness are prosperous beyond what they
 
 that monetary institutions throughout the land are on generally safe and paying basis. This is true. It is also encouraging that the immense shrinkage which has been going on for more than two years has not produced panic. How much longer the depression will last no man can tell. It is certain, how ever, that it will not last forever, and it is possible, not to say probable, that before the beginning of another year business may be more active and profitable. There are seve- raI hopeful features of the situation, some of which are thus set forth by the Boston Jour- nal Just now many industries are curtail- ing production, which will tend to relieve the markets of an apparent surplus unless producers in other countries who have yet greater surpluses pour their goods into our ports without much regard to prices. It is probable that wages in many manufacturing establishments will be reduced somewhat dur ing the early part of the year. This need not have any considerable effect upon con- sumption, since the price of all articles of food and clothing are cheaper now than they were when the present wages were estab- lshed. Thus it appears that, having cheap food, quite general employment, an abund- ance of money and full consumption, the situation as we enter the new year is hopeful. Prices can go no lower so long as there is 50 large consumption. The pres ent rate of consumption will continue so long as wage classes all have the means to purchase. By the time that the spring trade sets in there is reason to believe that the liquidations incident to the adjustment of business to the present basis will be ended. and that there will be general improvement in the situation-o yielding moderate pro- fit to capital and enterprise and full employ msnt, at fair rates, to the wage classes.
 It is also to be remembered that the va;ue of the crops raised in this country during the last year is about two thousand millions of dollars This is actual wealth and adds so much to the prosperity of the nation. People are also more prudent and saving than they have been. These and other causes at work will certainly bring revival of activity In business sooner or later. Until it comes the best plan for all concerned is to worry as little as possible and keep working.