The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1881-10-08 00:00:00

liwolmil

THE history of our commercial relations with
France is in many respects a remarkable one.
It is np xv more than two cud twenty years since
the " invasion panic" swept over these islands,
and iect o he formati n of the Volunteer force
which le now one of the institutions of this
country. Looking at the matter from the light
of later days, there does not seem to have been
so mile; ground for the scare as was supposed
at the :leo,. ;fur army had !ought side by side
with ',het of-Feanee in the Crimea against what
w7le teen believed to he a common enemy; and
although the relatious between ourselves and the
Frence Gov rrieeeet so zne time afterwards be-
came somewhat strained 'from varioas CSTIgeS,
there cen be no creetion that an attempt to in-
vade England would hav;) boa' resorted to by
France only ie the feet extremity, when the
diplomatists of both couetries bad exlieust.ed
every effort in the cause peece. Nor can it
be doubted that such an ZA Qnt, whatever its re-
sults in a military sense, would have been in the
highest degree disaetrons to the commercial
interests of .Frsnce. See'n a cotesideration might
have dispelled any fear that prevailed ;
eeasene for disquietude existed, end the at-recce.;
of the French arms agolt,st Austrie in 1859, led
many on this side of the Chenhel 'Ol believe ;Alia
the vieterions legions of tize Emperor, in the
absence of other occunation, would he turned
against ourselves, althongh obviously there was
a wide difference between thohuiding of an army
on our snores and the pentieg of a force across
a land frontier into the plains of Lombardy.
Sufficient attentioe wac not, however, given to
this eonsideration at the time ; hence the panic
whh existed.
It was at the vory time when the Volunteers
were being errollee that nage;.iatiene woe geing
on wiql France for the Coeeneecise Trea.y. Lord
Peireerston had rammed to Fewer, tired within a
few months.; of ciemeaeliug from Perliement a
sum of twelve miliious sterling for fortifications
so as to protect our meets from "our hemediate
neighbour across the Cheneel," to use his own
words, despatched Mr. Cobden to Paris to make
arrangements for the Treaty of Commerce. The
incongruity of the situation was enhanced by the
fact that on the eve of his departure for the
French capital on this important errand, Mr.
Cobden had refused to take office in Lord Pal-
merston's Cabinet, and that throughout the re
=tinder of his life there was no stronger oppon-
ent of Lord Palmerston's policy than Mr. Cobden
himself. However, these differences did not
prevent Mr. Cobdeu from throwing himself heart
and soul into the purpose of his mission. The
same Near-1860—which witnessed
.the passing
of the vote for fortifications and the establish-
ment of ;he Volunteer force as a protection
against a possible invasion from France, saw the
completion of a Treaty of Commerce between
the two countries. Originated amid surrounding
circumstances of suspicion end mistrust, it has
lasted more than twenty yeets ; and although
the eegotiations for itr rer,ewai are temporarily
susnended, the eubject ia dispute is one which
may be die-ens; esi and without calling into
play any jealousy or projOice of an international
character.
Happily the circumstances of to-day are widely
different from those of t. centy years ago. Eng-
lend no lolger suspe France of any designs
upon her integrity."her the Emperor ever
did entertaia such deeeea is no iong,--,r a practi-
cal question. 'Lie Erpirf, has passed away ;
and the experience of France in the furnace of
affliction has not been wi.hont its service in the
maintenauce of European poaee. In tho terrible
time of 1870, when France icy prostrate at the
feet (:1 her vi,:torious fot-! anti was bleeding am.
every pore, ail lo feuds end the skrilz ot centur-
ies seemed to have been fore:Mien ; and the
sympathy ef our people with our old oppeeerie
was deep and widespieed. Foe scene titoo now
a cor,:rat attianee has exii.te:l 113:-;tavcse.n the tso
netioes, and statesnli-i; or bole
sides of the Channel arc is:Nre to tin, importance
of maintaining thie eliianee. Or of tie beet
ways of leiog this is by encouraging suct! works
of peace as are represented in a Commercial
Treaty ; end the Coeheissioners heve all good
wishes for the success of ;heir efferts.

IRON TRADE SUMMARY.
THE HOME IRON AND COAL TRADE.
The i,mprovement of the English iron market,
though it has been rather sudden, promises to be
of sotee months' duration, not so much on account
of the reetricted output of pig metal agreed on, but
becaire tilere is really a good demand for manufac
turd iron for the home trade. The pig-iron market
h s been exece,clingly active this week, and prices
cce t nue to irt buoiant. The Glasgow warrant
market has again been very strong, prices having
now ri-en ha per ton within a2out a month. Closing
quotations were on Wednesday 53s 5d cash, and 538
id a month; buyers, id per ton less. Accounts of a
si, liar kiwi are sent us from Middlesbrough, where
last Tuesday, owing to the favourable nature of the
ironmestere' returns for September, No. 3 Cleveland
G.M.B could net be boueht at 43s and even 435
Gd ; 458 being spoken of as the ruling quotation be-
fore the en of this month. The tone of the market
was remarkably quiet, but firm. The improvement
which set in some weeks ago in the hematite iron
market shows no signs of abatement. and business
has now settled down to a steady demand for all
classes of hematite pig, foreign enquiry being as
setisfectery as ever. The weekly preduction of
West Cumberland and Furness combined is esti-
mated at 30,000 tons, and all this is going into con-
samption. The quotations given by us last week-
-62i for No. 1 and 59s for No. 3 forge—are main-
tained. A good demand exists for manufactured
iron both In Scotland and the North, and the im-
provement in prices which we noted Last week has
since ext•nded to all descriptions of finished iron.
Marked bars are now £7 10s all round, the Earl of
Dudley selling at eeB 2. 6d. Works are net inclined
to book further orders unless at an advanced price.
Gre :t activity prevails in North Staffeedshire, an d
prices have gone up slightly The same remark
applies to the Liverpool market, the Forest of Dean,
South Weirs, South Staffordenire, and Lanes-hire.
On the Tyne there is a proqiect of a good winter's
work. Favourable accounts are reaching us from
Birmiegharn as to the state of the hardware trade.
Business is abur.dant, and in several cases manufac-
turers have been able to fill their books a month or
two in advance. The result has been a general
B:vngthening of prices, culminating in an advance
for several descriptions of goods The improve-
ment shows itself both in the home and foreign de-
mand. In Sheffield, also, prospects are better,
plate mills especially having secured heavy orders,
and prices are very firm. There is an upward
movement in Bessemer sheets. The steel trade
genera:ly is very brisk. Shipbuilders have never
te en bueier than they ere et pre sent, and this re-
mark applies to all shipbuilding centres. Founders
ano engreeers are fairly weil employed. The coal
market preserves its improved tone, and all descrip-
ioee of fuel command a vady sale. Quotations
have been advanced from 6d to ls per ton in Lan-
cashire, and Bd (steam coal) at Newcastle, where
the demand for shipments to the Baltic is still very
great. The price of house coals has been raised in
London.