Year: 1876

In times of great depression IN business
men look eagerly forward and grasp at the
first indications of brighter future. For
nearly four years the business of the coun-
try has been greatly depressed. The man
ufacturer, the artiZan and the laborer have
been comparatively idle. e., they have
not been as fully employed-and, as con-
sequence, all other classes have suffered to
a greater or less extent; and these evils
have been much exaggerated by the
croakers. The truth is that this has not
been caused so much by the want of capital
as the want of conference.-the uncertainty
as to the future. Although the country is
laboring under large debt, caused by
long civil war and prolonged agitation
kept up by those opposed to the results of
that war, there is still an abundance of
capital in the country, which will be
brought into general circulation the mo-
ment confidence is restored. 1t Is an error
to suppose that the state of things existing
during the last few years is due to any
policy, financial or otherwise, of the party


in power. The debt itself is great en-


barrassment but the situation has been


greatly aggravated and the day of pros


perity deferred by reason of the opposition
of those at the South who were in arms
against the Government, and those Demo
Gratis in the North who sympathized with
them. But our people have manfully CO.
operated to economize, TO reduce their in
dIvidual and national expenditures, and by
the payment of taxes to decrease the debt
and appreciate the national credit. Any
fundamental change in the affairs of the
nation necessarily upsets values, and the
constant fear that by some accident the
Democratic party might come into power,


with its well-known antecedents, has been
really at the bottom of the whole difficulty.
Let the fact be clearly established that the
loyal people will still control the policy
of the Government, and that time will be
the dawn of a new era of prosperity. In
deed, that era is already upon u.s.


The triumph in Vermont was i'm
mediately followed by the announce
ment that the factories of New Eng
land were to recommence operations.
The victory in Maine gave additional
evidence of the permanence Of the policy
of the Republican party, and increased &C
tivity is the result here and elsewhere, even
in the iron works Of Pennsylvania. These
facts are acknowledged by the partisan
press everywhere. In all the commercial
centres business is better to-day, we are
told, than at any time since the panic of
1873, and why? Solely because in the
States named the elections give assurance
that the Republican party is practically in
tact, and hence there is to be no change in
national policy during the next four years.
And this fact alone restores the confidence
Of capital, which at once proceeds to the
employment of labor in the production of
wealth. 1t secures Government refund
of six per cent. loan at the unprecedented
rate of four and half.


The Republican victory in the new State
of Colorado will increase the confidence
already indicated, and we predict that after
the October elections the Presidential cam
paign will be practically abandoned by the
Democratic leaders, which fact will restore
full confidence IN all sections, and the coun- |
try will enter at once upon new and more
active prosperity than has been realized
since the war closed in 1865.


Already in this city the renewal of busi-
ness prosperity is beginning to be felt, for
we find, upon consulting with leading deal
ers in real estate and from personal obser-
walton, that bottom prices have been
reached, and, while there is no apparent
increase in prices, except in special locali
ties there is an increased demand for prop
erty, and prices are firmer. This is espe-
cially the case in the northwestern portion
of the city. There is one fact which should
not be overlooked in so far as our own city
is concerned, and that is, Notwithstanding
the hard times, more buildings have been
erected in Washington during the past year
than in any one year before in the history
of the city. 1t is worthy of remark, too.
that the new buildings are, as rule, of a
better class