Custer chronicle. [volume] (Custer City, Black Hills, D.T. [S.D.]) 1880-1890, 1886-03-13
The Condition Of Trade,

The Condition Of Trade.
New York Shipping List: Com.
plant is made that profits have shrunk,
and, because this is the case, it is
claimed that the country is not
as prosperous, commercially, as it
has been in previous years, or as it
ought to be now, and hence it is argued
that the future is not altogether as
hopeful as it is made to appear.
Opinions based upon the experience of
the past, however, are not a safe cri-
terion for the present. because Of the
changed conditions upon which bust
ness is conducted in every department
of trade. With money u drug in the
market, at a low rate Of interest, it
would be strange indeed, il the profits
of trade were not correspOndingly re-
duced, to say nothing of the keen COM
petition that now everywhere prevails,
and that is a most significant influence
in eliminating the opportunities for
obtaining profits, that a few years ago
were not considered altogether excep-
tional. The earning power of capital
has been reduced by the abundant sup
ply of money seeking employment all
over the country, and a readjustment
Of trade upon the basis of this condi-
ton of affairs is a necessary conse-
quence. Not only is the country
older and richer than it was q
few years ago, but its commercial i'm.
pOrtance has increased, and the enter
prise and prosperity of to people, as
we'll as the development Of its great
industry and natural resources, has at
tracted the Investment Of foreign capt.
tai, and tended to equalize the profits
of trade operations more on a parity
with the rest of the commercial world.
Steam 8nd electricity are rapidly bind
ing the world more closely together in
its commercial relations, and the drift
Of the current is steadily - the dircc-
ton of equalizing the d'stribution Of
capital, merchandise, and labor. The
markets are now more directly con-
trolled by the worlds supply of any
given commodity, rather than the ex-
listing stocks of any n country and
locality. 1t is now a question of how
much the world can produce and con-
sumo, and hereafter these are to be
the controlling influences in shaping
| the course of commercial affairs.
Every important transaction is
known in every important market on
the same day that It is completed; from
ten to fifteen days is al that is requir-
ed to transport supplies from one con
| tinent to the other, while from thirty
to forty days is sufficient to bring tc us
the products of the most distant coun-
tries.
There has been nc change in the
wheat situation, the market ~fluctuating
because there is no positive influence
to move prices either up or down; in
other words, spectators appear to be
| waiting for something to turn up,
which may come shor ly in the shape
of reports respecting the condition OF
the growing crop. Meanwhile. the ex-
port movement amounts to vely little,
and continues steadily against US The
shipments thus far from the whole
country since the commencement of the
crop year are about 26, 600, 900 bushels
less than at the corresponding date
last year, a deficiency that is not likely
to be made up before September, even
at the low prices that would be neces
sary to stimulate a foreign demand.
The disappointing condition of our ex-
port trade is certainly the most un-
favorable feature that in any way dims
the future at present. Speculation is
largely responsible for it, but it is also
a disagreeable reminder of the de-
pressed condition Of trade that still
prevails throughout Europe. The in
production of a new tariff bill into Con.
gress on Monday, which proposes to
reduce the tariff on sugar and nearly
all metals, has created an unsettled
feeling in the branches of trade likely
to he affected thereby. and is likely to
restrict operations so long as uncer'
tainity in this respect prevails.