The morning call., 1891-07-13
THE BUSINESS OUTDOOR.

business which one hears in the streets and
in bank parlors are not confined to this
Coast. They are heard in Eastern cities in
much more pronounced form. In its last
review of money and business in New Y ORE
the Tribune says: Manufacturers still wat
for orders, agents and jobbers still wait Tor
purchasers and retail merchants through
ont the country still purchase with much
caution"
This is the more curious, as the prospect
for abundant crops was never brighter than
it is. In the East, as here, the reports Of
the Agricultural Bureau indicate the largest
wheat crop ever harvested, and the Euro
pesn demand bids fair TO be large. Corn,
oats and other cereals look uncommonly
well. 1t is yet foo soon to make predictions
alb out the cotton crop, but experts look for
an increase over the crop of last year,
which up TO date foots up S,4S2,000 bales
All products are moving freely. For five
weeks ending July LIST the exports of wheat
fr ON Atlantic and Pacific ports were
II, 400, COO bushels, as against 100000 for
the same weeks in 1890. The sales of wool
for the year to date show an increase OF
nearly 10 per cent over last year. In this
State the shipments of fruit TO the East
show a marked Improvement over last year.
A II over the country the traffic receipts on
the railroads compare fayorably with those
Of 1890.
In the iron trade and in the industries
connected with it business does not look
we'll 1t is reckoned that less than 5000
miles of new railroad will be laid this
year. This falling off, which is very large,
reacts upon the steel-rail market, and all
the other steel and iron industries sympa-
thize. But with this exception every branch
of trade promises well and ought to enjoy
an active fall season. Why, under the cir
cumstances, business should be dull, is a
puzzle not easily solved.
Some Eastern writers ascribe the dizziness
to reflex action from the state of CONNER
cial affairs in Europe. In France, Germany,
Italy, and to certain degree in England
also, business is bad from various causes.
RuSSia's attempt to corral the stock of gold
held by other countries has never been
clearly explained, and, in the absence of
explanation. it naturally creates uneasineSs.
The failure of the French wheat crop lis
always a serious matter in country so
heavily taxed as France. The landed in
terest refuses to permit free importation of
American wheat and the proletary class
foresees famine and threatens disorder. In
Germany the irrepressble conflict between
highly intelligent body Of workingmen
and military deSpotism menaces the pub
lie peace and checks enterprise. In Italy
the point at which the capacity of the peo-
pie to bear taxation has been reached, and
very serious consequences are feared. FL
nally, in England it is turning out that the
effects of the collapse in Argentine securi-
ties are more far-reaching than was be-
lieYed. They were more widely held than
was imagined. and their amount, which was
roughly estimated at fifty or sixty millions,
is now said to run up into the hundreds of
millions. More people have been crippled
than any one conceived, and business suffers
accordingly.
1t is quite possible that these impedi-
ments 10 European trade and industry may
affect business here. All commercial ma
lions are practically partners in business
when one incurs a loss the others suffer.
But periods of dizziness often occur without
any visible cause. The normal condition of
business IN this country is one of activity.
Everybody works, produces something, or
exchanges something, or renders some ser
vice TO the community which commands
remuneration, and in the ordinary course
of events everybody makes a living and
something more. But communities cannot
always be on the GO. There must come times
when the most active and industrious seek
rest and the NEST intelligent let their wits
lie fallow. When that happens TO large
number of people simultaneously general
dizziness is the result Happily, such pc
RODS caSnot last long unless they are
marked by refusal of the earth to yield
forth her increase, or by some such I'M
toward accident as pestileBce or war. 1t is
comfortable to reflect that none of these
substantial causes for hard times are in
evidence now.