The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1885-03-21
A CHEERFUL OUTLOOK

That the business Of the country is ass
sumng a more cheerful aspect and prom
ises well for the near future is not denied,
except by those chronic croakers who
never see anything but disaster in the flu
ture and those few disappointed politi
clans who are continually harping upon
the change of administration. 1t is not
worth while for the business public to
waste much time in listening to these two
classes of grumblers. The. former class is
like. the poor, always with US, and the
latter have made up their minds to sulk
for four years, and should be permitted
to enjoy their only occupation. They
expected office for themselves or friends
had the vote of the peorle determined the
result otherwise than they did, and con
sequently in their opinion the country is
necessarily ruined
There is another class. twin, so to
speak, that claims'that business is wait
ing to see the policy Of the new admins
tration developed. Business is doing
nothing of the kind, but is going right
along, regardless OF affairs of state This
class would seek to make the public be>
lieve that the country merchant is uncer>
tain about going to the jobbing marts to
lay in Il supply of goods until he knows
whether the postmaster in his town is to
hold his position or be removed to give
place to another who can sell postage
stamps and receive and deliver the mail
with equal facility of the present incum-
bent The influence with these people is
rapidly waning, and very little attention
is being paid to them.
The news of threatened European wars
a short time ago had stimulating effect
upon prices Of ,breadstuffs in a speculative
way, but it soon subsidized, exports contin-
uing right along. For the month of
February exports Of wheat and corn were
16,S9S.511 bushels against 1854, 1877 bush
els for the corresponding month last year
and with low plices prevailing the value
of the exports for February. 1885, was
about 12,750,000 against 50 500, 600 for
February, 1884. Railroad earnings for
the same month on $4,000 miles of road
showed comparative decrease of only
S250,000. Subsequent reports, however,
with improved weather and the disappear
ance of snow, show a marked increase
very satisfactory and encouraging 10
those who are readYs to look Supon the
bright side of affairs.
The foreign exchange question has
heretofore played an important part in
the business of the country. With the
low rates for money on this side of the
water, and good rates on the other side,
bankers and capitalists have bought
largely of long sterling bills at profit,
and this has kept up the price of this ar
ticle. The excess of our exports over
imports was such that the natural course
of gold WAS from England to this coun
try, but this buying of exchange has kept
gold back. 1t is now no longer profitable
to buy exchange, and tits coming into the
market. The result is decline very near
to the gold importing point, and it would
not be surprising to see specie flowing to
US in short time
The adjustment of wages is still in pros
gress, and rents, which nave been held
up out of proportion to wages and the
value OF merchandise, are being reduced,
so it must not be expected that the pros
porous times of four or five years ago will
be Immediately resumed. Improvement
will be gradual, but not the less sure on
that account. Iron mills that have been
idle for months have commenced opera
tons; the dry goods business, which has
been delayed by the prolonged winter, is
springing into activity, and other lines
are exhibiting new life, and it can be
safely said that the revival of trade is in
progress.