Year: 1874

The Groundswen of a Fresh start In
Commercial Activity.


Although nearly one-half of the
period assigned for the hort-time
movement in the New England cotton
pills has now elapsed, says the United
States Economist, it is yet too soon to
determine with the requisite accuracy
the effects of the movement on the
trade. But that the movement at the
time was a salutary one cannot be
doubted. 1t impaired confidence to
the trade, and at least temporarily
averted the downwarn tendency which
threatened such grave results. At tho
present time prices are by no means
settled, and judging by recent develop
ments it is not improbable that gen.
eral revision of the entire list may take
place. But the general tone of the
market is decidedly improved, and there
is hustle and activity apparent which
are in marked contrast with the stagna-
tion of few weeks ago. The improve
ment is still more marked in prints and
dress goods, owing, it is probable, to
the active demand that has set in for
the retail trade, the requirements for
which are likely to be much heavier
than were deemed either probable or
possible short tine since. The gen.
eral feeling now is that we shall have n
large and active winter trade, especially
if the season should chance to be an
open one. In confirmation of the i'm
proved tone of the dry goods trade of
New York city the news from the manu-.
featuring districts is unexpectedly
favorable. The short-tim movement
in the cotton trade appears to have al
ready reached the turning point.
Several mills which went on two-third
time have resumed full work !; others
are preparing to do go. Now, this
movement is chiefly important as illus
trating the improved feeling and is by
no means on q scale to warrant expecta-
tions of important changes.


But from the West the news is more
decided of coming activity. At Chi
cago, st. Louis, Louisville and Cincin-
natl there is an active demand for money
for business purposes. The grain trade
apnears to have received new impulse,
the receipts and deliveries one week
recently reaching to something near
the figures at corresponding periods III
former years. But the chief cause OF
the present activity appears to be the
requirements of the pork trade. This
will liberate very large amount of
money, which will be distributed ali
over the West in payment of hogs.
The farmers who, from whatever cause,
held back their grain, will now be in q
position to realize on stock, and will be
in position to settle up their old store
bills and make new purchases.


The South is harvesting her cotton
crop with an activity which shows that
the granger policy of holding back
produce for higher prices has made
very little headway in that part of the
country. The proceeds are put into
immediate general circulation and al
though, owing to causes which are q
disgrace to our country, they no longer
flow back in n stream of wealth to the
North, yet the money received for the
crop ls devoted to the wiping out of in
dividual and local indebtedness. Even
at present prices planters receive a
good profit.


The general outlook, then, is not IN
favorable. 1t is true there is nothing
particularly bright or attractive in the
immediate future, but at the same time
there Is nothing particularly depressing
All our industrial interests, without
exception, are in sound condition, and
this encomium could perhaps now be
more truthfully applied to the general
finances OF the country than at any
former period in our history.


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