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Last Year's Business

Last Year's Business image
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Lim yeaf'i bamMM m gwtiw i itixitrit tlun tbal ol' any previous year. Let us look ai sonie of tlie tiures : J ii tlie lir.-t place, (lic pioduetion of wheat vu aliout 181,000,000 bushel in in lsst), again.-t 149,000,000 bushels in Our eiports of merchandise for the yer endiiig Nov. 30, 1880. were $871,W, ajiainst $751,751,204 tbr the year endiug Nov. 'M), lST'.i. Our imports dorin:-' tlie saine iciioil amouoted (O $709,iO iu'ain-t $485,516,160 in 1879. erop ofcotto lor the yer IS79-80 5,761,252 bules, againat 5,074.000 tbr tlio year j ii-t prenous. Our proiluction of roa wu 3,300,000 in 1880, sainst ; 2,741,863 in Is7'.t. We ooustructeJ 7,i'O7 at ncw railmail-, anainst 4,7 - 1 in 187'J. The earnOft n( 14 oompaniM, operating about onetbird of the railway mileagc of the United States, wcre reater than those for 1879 by $40,980,119, ao inerease of 'Jtl per cent. Il' all tlie road fared as well, the aggrqgate gain was luoir tlian $l(XI,000,. These figuren 'itidioaU' the extraordiiiuiy inagnituiie ol' la.-t year's business opcra; tions. The ilatisücs ol the trade, commerco aoil ïnaniifauturers of the pa-t show no iggregatN whieh approach thcui in size. Tlie ïcinarkublc ptosperity of tbc year i -liown in the wiuparatively suiuH nutubei of failures aml in tho déoraaa o( the ol tbc -hip -wreeked liruis. Thcre werc in 1880 "niv 4,l'.- failures, against in 1879, ¦M 10,478 in 1878. The total lialiilities were only $05,752,000, 110 . in 1 87'., and - ;t8.i,Uli in 1678. 'flits in failuie is the luoru ,sij{in)ieant becausc oí the large idditmn wliieh was made last ycar to the munlrcr of tirms en;aod in business. There werc 45,000 more Irma in 1880 than in IX7'J. All these fiwts and h'ïure.s are indicativc of a prosperily whkh is. aound, and ouht lo bc cudurinK. Hut eveu the luw aggrei Ikilurcs and lialulnies for last year . wotild huve been much les if speculation ba4 not undertaken to interfere with the natural progresa of trade. Aluiost without exceptiou, tlie heavy failures were due to w i h 1 httemptt to control tho market wlicn supply v,h too greal tot MMk manipillalion. Ihia jdency to adopt spoculativc Diethoda in business lias liad severe, l'uc it has not been chcckcd. There tbc i rouwe ui'cvil in it.


Ann Arbor Courier
Old News