Year: 1874

From the New York Tribune OF tuesday,


Following the panic of a year ago, and
after all possibility OF a revival OF fall OF
winter trade was past, many, calculating
upon the necessities of the people at large
pTOphesied an enormous and unnatural busi-
ness in all branches Of trade in the spring
They thought every body should be largely
stOcket in anticipation of such a rush, that
prices would hold their OWL, and the evil ef-
fects OF the panic be more than balanced by
the sudden and complete revival of trade
Others took the gloomy view OF the situation,
brOOded over an utter generalization OF busi-
ness and the overthrow OF all confidence.
Neither the one nor the other of these theo-
rtes has been worked Out. The expanded no
tions in either direction were the offspring OF
the sudden accumulation OF fortunes cOnse-
quent upon the war, which had set the aver
age tradesTDen sfiame with high hopes and
dangerous schemes for rapid wealth. They
could see nOJhlug but great gains or destruc
tive losses. Fortunately, however, there were
not few who k. pit their heads, accepted the
reproof which the financial crisis gave TO
almost all business men, saw the dangers,
and sought TO insure an easy letting down
from the high and fictitious basis upon which
they had been building. They made quick
sales at reduced rates, cut down their stock TO
a working amount, lessened expenses, and
prepared for The worst result that was posi-
BILE. Thus the severe blow which threatened
them was in many cases warded of, and con-
fidence began TO be gradually restored. But
even by these steps the general influence of
the panic could not be destroyed in a day or a
season the great spring sales were not m ade
buyers were exceedingly cautious; sellers
we're careful to run no risks; both were salts
ned with small bills, small profits, and cash
or short-time sales. Little money was made,
but losses were few, and shrewd men fOresaw
that all manner of business was becoming
sures, and speculation unpopular. With the
fall healthy but not unusual trade has ap-
peared. There are as many purchasers as
ever, but they are not disposed to load their
shelves with any larger stocks than
the season IS likely to turn to their
profit. 1--WE want better goods they say,
"and smaller lots" and they buy what they
are sure of selling, Accounts from the several
departments of business show that business
men are not discouraged or gloomy, but on
the contrary, moderately satisfied with the
present business and prospects. From the ag-
ricultural parts Of the country orders are
nearly as large as usual, and money Is easy
and, although less can be said for the manu-
featuring sections, there is no marked depres-
sion of feeling. Most city dealers and jobbeTs
are expecting only fair degree OF business
this season, but say that there is nothing in
the condition OF affairs to warrant complaints
or anxiety. In most branches trade through
the summer and thus far this fall has COM
pared well with that Of last year, which up TO
the time Of the panic was unusually good. 1t
rs not difficult now to ind those who talk dis
couragiDgly, but where there were a hundred
a year ago, there are barely hRlf-dozen now,
and the great majority of mercantile men are
very confident that the permanent good or
business will prove TO have followed FROM tae
financial crash of 1873.