Show TSIK till resl SESs I 1 I 1 la ill the summer of 1873 the IN bole business odthe of the country tiac aft on oil the topmost wave of inflation lial been lin n PiO giess for years in all ita ik material interests interest the ce exo ceide tilsO ive of paper money without RBY a uy chcuik or balauch wheel of redemption had bad advanced tho the prices of stocks real estate and coan odi ties and merchandise of every description much beyond any previous limits individual expenditures also alo reKula tod on tho the simo same extravagant old nacre mere constructed in wilds ft here theia was no business to sustain them aud and could not hot lc be torreas tor seara to come palaces welts built in cities and towns at an outlay which only could affel acebed al establishments UTO extended or new dow ones N acre ere JOI oje eted and bill built and nd the 0 of f merchandise IN is as gnei mci cased beyond tho ilia capacity ca Capa cit 0 if the population to lo consume when this bubble was wasat at its height lal in the fall of 1673 1873 a Iti I 1 bading adin banking house character chich had bad been ilia hie mob hobt A ail financial agent of tile during the iho rebellion had engaged agad in a stupendous the NOrt laviest involving ini inN 0 a outlay of more than a bundled brin died million dollars suspended the effect of this failure was as tho the operations erat ions of the hoube vely large not only lit in i thia big cc countey lin I 1 ay iy but in europe yet theta theio were many v A ho he at tile alic tune time thought the would be but ephem fi ci al bed and that business would well flow thion gli its ila proper channels channel again and that abat the country would soon boon havo have it a speedy return to im foi mer iner prosperity i ever IN as not result other failures tool look place railroad raili oad credit was ties up alm abt september 1873 1673 to january lit 1873 1878 a steady eind and in values took place failures 1 in ecly bialk or of liro lire have occurred bail boade banks bank trust colgla UL corporations corporation i of almost eury eatery kind merchants aud and individuals latin hao beta been fareed into bankruptcy vi illious any panic the courtly has passed through a more ordeal ordal I 1 than has ha ever bafo re been ex eare pa stocks even tilt lh iest best have cepi froin froia tid ainey live to fifty per cent and some sollie mote more sonic sonia of 0 alic roads have arc sealed an but af pf millious TaiHi mil licus ons of dollars dolli irs of railroad onal lunt city alty hair totally kcal cicale cannot le sold gold for lar lent of the inflated alices in ices of 1672 3 merchandise of every lq ii today to day a great deal lower than before the war do matic produce I 1 in hale aloo alio pattalee pat talen of thil decline dec luif it is safo safa tto to my bay that dining dudio this thid trying petion of live yeara s but little money has beet been made but that much inch lias has been lost through the operations actions of tile tho late bankrupt law hw aud and by private corn com positions of millions million ji of dollars of indebtedness m lias has been wiped out so EO that from all ill these causes causal combined tomb ined it fari bannow bo as hamd that wo we aro arc at the bottom hottot I 1 I 1 of the IId ladder der and ami that wo we should begin to asciol asconi its rounda the cu of tile the country is now BO be near a specie basil basi that if not hot by congressional tinkers we need have no fear of faither expansion or contraction in that qua iter lit null as ludy be required by ilia lie imperative impel alive demands of a gradual groni it i and improvement in business rind and production tzogia the giacin in crop liaa bas been abundant the cotton crop now flow witly leidy to pick is 13 ce dented in amount awl and there is a libei liberal at demand fur all it v a e cart can export at alivo prices wo ate slow ly but guilly our mat inai fets in ml other coun countree coun trie trieb for our man goods tins this list is one of the most important old menti in tho the acita ui advancement of our natural in the old near fatute we must contend and successfully too with the old world in alio llio west indies and in south america weare we are alief tily making ion ions strides in the light direction direct ioni but then inest bo be no 01 hesitancy our march koirat aid inest bo be steady and wo we can now DOW chii send many of of tile products product of our looms ti cuts and our handicraft to lie Inar letS of una ope we do not hot anticipate a rapid improvement pro in business indeed it is notto not to be debited but ila c do expect its steady and giolito upon solid asid aid sure foundation alepa bail iward c ire arc alo indications of a healthy revival of the bip building interest into inte test cst idich will wall enable this country at day to abc tale lank auk I 1 again as ono one of the thief nations of the earth ions cfall liin kinds dinvill will move tardily for some eaic tacio abc too many burnt children et ct who have a wholesome escanio dread of fire cit dut but a new generation of men inen are arc sann spring iut iu up wilo who i will ivill not profit liy by the l lio experience of the vast but beat 1 v ho be u ill be as I 1 cleadas eadi as abbie th air f ailers to participate in and foster fabler the wildest sort sort of Nen ventur tursa tt but the resent baine lii bu inc ine rc acial ial ili 14 likel likely to be healthy rind and listing lasting because we all cpi api inneo to guide us funny m our operations and based I 1 at it a price too bich I 1 leave a durable impi impression assion on our minds |