Democratic Sentinel, Volume 1, Number 28, Rensselaer, Jasper County, 24 August 1877 — TRADE AND INDUSTRY. [ARTICLE]

TRADE AND INDUSTRY.

The valuation of property in Boston has fallen off $62,000,000 in a year. During the year just closed the United States sold 105,000,000 yards of cotton goods abroad, ten times more than was exported the year before. The Southern cotton-growers are complaining bitterly concerning heavy losses on this season’s crops, occasioned by low rates and unusual expense of cultivation. The New York Herald says: “All the indications are that the fall trade this year will prove the best and largest that has been transacted since 1873, the yeaxpf the last panic.” Foreign papers believe that Europe can take 2,000,000 head of cattle from the United States every year, the limit of cattle-rearing have been reached in many parts of Europe. A glance over New England exchanges exhibits a renewal of manufacturing thrift and energy iu that direction, with the best of prospects for an unusually brisk fall trade. A Frenchman says the annual value of the products of glass manufacture in Europe and America has almost doubled within the past twelve years, and now amounts to not less than 600,000,000 francs.

« The Baltimore and Ohio railroad will hereafter conduct the express business over its own line, the Adams Express Company having withdrawn from the service in consequence of the unwillingness to pay the rates demanded. The net exportation of specie for two years amounts to about $56,000,000, against a production for the two years of $180,000,000 of bullion. This would indicate a considerable stock of gold and silver accumulating in the country. The dry-goods imports of New York for July were $1,800,000 more than for the same month last year. For the year, up to August 1, these imports have reached $47,673,744, being $1,700,000 less than for the same period last year. Persons who write about the business of the Western rivers note with emphasis the gradual decay of steamboating in favor of railroads; yet a powerful effort is being made to revive the water traffic on the Mississippi, from St. Louis down.

In 1820 times were so slow in the best portions of Pennsylvania that real estate was valueless. Grain sold at from 8 to 12 cents per bushel, vegetables brought next to nothing, and a sheep could be bought for 50 cents. And yet the people were not happy. Now, while Great Britain eats American beef in preference to her own, and drinks American beer, our agents who have gone there to sell cutlery, and cottons, and silks, will find themselves quite at home. It is unnecessary to say that they are improving their time to the best advantage. But for the revolutionary character of the people, Mexico would be the paradise of emigrants. Coffee, cotton, sugar, and tobacco grow most luxuriously, while tropical fruits and Northern grains can be produced continuously. Without a market, ease and the utmost comfort could be secured for almost nothing. Those who expected the war in the East to cause an immediately increased demand for American breadstuff's, as well as an advance in their price, have thus far been disappointed. England has certainly imported more wheat and flour since Russia declared war against Turkey than before, but Russia at the same time has increased its exports of these same commodities to England in a wonderful degree. For instance, the returns of the British Board of Trade show that the importations of wheat from Russia into England during the month of June last amounted to $5,140,000, while during the corresponding month of 1876 their value was only $865,000.