Year: 1874

! Il
. Commercial Activity.


Although nearly one-half of the
period assigned for the short-time
movement in the New England cotton
p,iIls has now elapsed, says the United
States Economtst, 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 e salutary one cannot be
doubted. It impaired confidence to
the trade, an5Sat least temporarily
ayerted the downward tendehcy which
threatened such grave results. At the
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
rnersst ID decidedly improved, and there
is hustle and activity apparent which
are in marked contrast with the stagna-
tion of few weeks ago. The improve
rient 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 q short time since. The gen
eral feeling now is that we shall have a
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.time 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
tradng the improved feeling, and is by
no means on 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
appears to have received new impulse,
the receipts and deliveries one week
recently reaching to something near
the figures at corresponding periods in
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 a 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 inte
immediate general circulation and al
though, owing to causes which are 8
disgrace to our country. they no longer
| flow back in stream of wealth to the
North, yet the money received for the
crop is devoted to the wiping out of in
dividual and local indebtedness. Ever
at present prices planters receive 6
good profit.


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