Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1894-06-15
BETTER TIMES PREDICTET


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BETTER TIMES PREDICTED
uambleton & Co., of Baltimore.
in their last circular letter mako some
vero cheerful predictions. They say
that when the tariff is disposed of
business will start with whirl; the
country will be found bare of goods;
the merchants will order so rapidly
That the manufacturers will not be
able to meet the demand; foundries
and factories will be overwhelmed
with orders i'll advance and values
will clinib rs much over the legiti
mate line as they are now below it.
Perhaps Ha,nbleton & Co. arc
right. After tho great panic of 1857
our recovery was very rapid. A CON
siderable reduction OF the tariff light
ened the burdens of the people aud
industry and trade rebounded with
remarkable elasticity. The conditions
now arc somewhat similur, and the
pending tariff bill will afford much
greater relief than was given by tho
reduction of 1857.
The Uuitcd States Investor agrees
with the Baltimore firm, and predicts
tie speedy coming of good times.
The Investor says:
f"There is no reason to doubt that
business will resume its activity with
i'll few months. The delay in pass
/ ing the tariff oil has prolonged the
period of dullness and o. liquidation,
but no tariff policy, good or bad,
when once fixed, is likely to prevent
Z that brisk movement Of trade which
has always marked the years aft Or
the great commercial crises and the
temporary suspension of new enter
prises. 1t is quite probable that the
activity will be normal for time, on
account of the exhaustion of retail
and wholesale stocks by the suspen
sion of production during the past
ten months. Foreign imports are
likely to pour into the country in II
heavy volume to take advantage of
the new duties, but their effects in
diminishing tho demand for domes-
tic products ought to be largely off
set by increased buying by retailers
to replenish their stocks and by con
sumers who feel the effects of the re
turn of prosperity.
''The business interests OF the coun
try, standing at the threshold of n
new period of activity, of speculation
and OF great enterprises, will be cub
Ject to the great dangers which usu
ally accompany such period and the
spirit to which it gives rise. Prices
will rise above the minimum level Of
the period of liquidation, if the his
tory OF all crises is repeated, and the
steady rise i'll prices and in the vol
ume of consumption will stimulate
overproduction and after a series of
years bring in new period of sus
pension and of liquidation. So long
as the fever of prosperity does not
60 beyond the limits of good sense
and of prudent risk, the period of
suspension of activity will be less Sc
we're and will do no serious harm OK
cept to the weak and incompetent es
Establishments. The spread of knowl
edge and of the principles of sound
banking and safe investment during
the past generation are likely to pre-.
vent in the future any such prostra.
ton as occurre in 1897 or 1857. The
banker OF merchant tempted to as.
sumo risks and to presume too much
upon the future should not forget.
however, the prudent and penetrat
ing analysis which the eminent Eng.
lish economist, Walter Bageho!, gives
of the real effects of the rise of
prices"
The remainder of the article is de-
voted to the cautious warnings which
might have been expected from such
O conservative financial authority.-
The people are warned not to lose
their heads with the sudden return
OF better times, but to stick to safe
lines OF business and let speculation
alone.
Undoubtedly the coming lower tar
III will materially benefit the people
and improve our business conditions
but to what extent is, of course prob
lematical. 1t is encouraging to have
the assurances Of commercial and f.
nancial exr erts that we are about to
! get out of the slough of hard times.
Mud it gives us pleasure to quote
such authorities as the Baltimore firm
and The Investor. Ii their forecast
Is correct the South will be the first
30 profit by the change, as she has
peen hurtless than any other section
by che recent depression.
--S-a@p--
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