The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1886-07-03

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"GooD TIMES" Here-There is no mis-
taking the buoyant confidence apparent
through much, If not all, the business
world Good bonds were scarcely ever
higher, and new railroad loan was never
placed at lower rate than last week-net
ting investors at the price bid q per cent
The stock market is rising. General bust
ness demands 80 per cent. more exchanges
than II did year ago-for the last week
reported $S70,2ll ,2lS in 1886 against $685.
| 211,247 in 1885 When the question comes
up as to the reason for all this it is answer
ed by the circumstances that in New York
city, which furnishes wothirds of the ex.
changes the business of the stock exchange
Is now Just twice what il was year ago
| The aggregate loans Of the banks in New
York, Boston and Philadelphia June IL
were $3.50 ,0OO, 900; year before they were
$5l9,000,000. This advance Of an eighth
simply measures still larger Increase In
the movements of merchandise. To date
one fifth more shoes have been sold In this
country than in last year 10 the same date
since September our cotton mills have TAX
en- an eighth more cotton, and stocks of
cotton are only one third as large; cur blast
ltiuuCts uit Ill tuIttil NtthS tuI ulIG Oul
from fifth to a fourth more pig iron; the
trunk lines which carry trade to and from
these cities to May 81 made approximately
81 ,062 800 from through grain, against 81 y
1872 600 in the same time last year, and this
is only one item In railway business out of
many. The business and the sales of the
first six months of the current year are GER
tain to be exceeded by those of the last six
months. The harvests of 1886 it il now
certain, will be larger than in 1885, and
they will be marketed at prices which will
not be lower and in all probability will be
higher than for the last twelvemonth.
Wool, one great staple after reaching very
nearly the lowest average prices on record
last spring, has begun an advance, on the
basis of the London wool sales, Of from 10
to 20 per cent. which cannot fail to increase
the profits of the producer in this country.
This advance is noteworthy, also, as the
first which has taken place in any of the
great staple raw materials and its influence
upon the future price Of manufactures in
wool must be considerable. Carpet woods,
for instance, have advanced more heavily
than others, and the finished product can
scarcely escape the effect Of this rise A
year ago also, it must not be forgotten,
most careful observers of our currency
were in good deal of panic over our sill
yer question: panic which, we a.e glad to
say, the Press did not share But al pres.
ent the risks of the decentralization of silver
bulk are larger in India, and by c~nse-
quence in England, than here The limit
of the absorption of the silver surplus of
the old world by India seems TO have been
almost reached When the cash comes
there, as come II will in due time, some in.
ternatonal agreement To restore or increase
the coinage value of silver seems inevitable,
and this will add 10 the strength of our
own currency. Meanwhile, both our cir
culating medium and our banking system
appear well able 10 meet all the nearer
perils of the day, which is more than can
be said of most European countries. For
the signs of prosperity which appear here
are net 10 be seen In Europe If we are
using more cotton and making more iron
they are using and making less in England
and on the Continent The bulk of bust
ness is not larger than In 1885, but smaller.
Wages ere not stationary or rising, but fall,
ing-Ihilddeiphid Press, .JuHt 81.