The Express.
London, England, 1847-12-16 00:00:00

TILE IRON TRADE..

BIRMINGIIA3I.—The position of the iron trade is
very little, if at all, improved since our last report, and still
presents a depior ibis reverse of the activity that has pre-
vailed during the last two years. Twelve months ago
every work was in operation, workmen scarcely to be ob-
tained, orders superabundant—specifications almost preced-
ing them—and no suspicious crossing the mind of dif-
ficulty to be encountered in meeting liabilities. Now we
find confidence at the lowest possible ebb, a pa/pa-
hie stagnation of busineut and, instead of orders
and specifications, countermands and complaints. Quality
not suitable—sizes not exact—delivery not punctual—quan-
tity exceeded—or, where no excuse, presents itself, en un-
blushing avowal of inability to pay—form the burthen of
each succeeding post; while week after week works are
partially closed or brought to an absolute stand-still. It is
ewe that no 'raid meeting of the trade has been bald to
announce a to tal? reductron in the price of Shropshire or
Staffordshire iron, because such an unusual step would only
have added to the evil by destroying the little confidence
yet remaining; besides, there must of necessity be a previous
movement, namely, a more equitable adjustment of wages.
We fled, however, Scotch pigs quoted at 475. Gd. per ton,
and Welsh rails at 71., white the figure at which isles are
being made in our own district, it is well known, is regu-
lated more by the necessities of seller or buyer, than by any
other consideration.
We &refer from wishing to increase the difficulty by offering
an overdrawn picture of the existing depression, and moat
willingly admit that a large share of it is perfectly nncalled
for, bring only the result of a wild infatuation that will
shortly work its own cure ; but in the face of these incon-
trovertible facts, the absurd assertions, still continued by
some parties, that no change had taken place in the position
of the trade to call for especial notice, can only excite sur-
prise and regret. In fact, the money panic, or crisis, or
whater it may be termed, and from whatever cause it may
have originated, whether from free trade, railroad enterprise,
contraction of the currency, or the semi famine of last year,
is now developing its pressure on the business of this trade,
and adding severely to the natural result of an immense
source of consumption suddenly destroyed.
An undisguised statement of circumstances affords an
opportunity of reflecting how they have been induced, and
how they may be removed or avoided for the future. It is
this that should now occupy the consideration of those whose
talents and experience give them a just pre-eminence in the
guidance of the trade ; and the suggestion also is worthy of
attention how far a previous disregard of its legitimate ten-
dencies, and an interference with the natural course of its
movements, have directly or remotely affected its interests.
An opportunity now offers to put an end to the anoma-
lous position of the last two years, namely, that of paying
wages of every description equivalent to the rate of 121. per
ton for iron which has scarcely realised 101. The steps which
have already been taken appear consistent with sound
policy, namely, a contraction of the over-strained make, and
a notice very generally given on Saturday last for a reduc-
tion of 20 per cent. on wages ; these, if hallowed by such
resolutions at the next quarterly meeting so will give an
assurance that they are neither the result of caprice nor of
unfounded apprehensions, will produce, we have no hesita-
tion in predicting, the most beneficial results, whether the
trials lately undergone by our manufacturing community be
further prolonged or not.
The fact of over-production has been questioned by
some, because it is said that no vast accumulation of
stocks his taken place. It should, however, be remem-
bered that white stocks have been kept down by an
arti-
tieial demand (which, had there been no unusual facility
of supply would have justified prices remunerative to pro.
butlers, and sufficiently stringent to have curbed mush
injurious speculation), such demand has been forced by a
dogged restriction of price to a minimum scarcely avail-
ing the most favoured. Many new works also, and addi-
tional erections, with a vast amount of machinery, have
been prepared, without the slightest prospect of their now
being brought into operation. A few ironmasters only
might be mentioned in the Wolverhampton and Dudley
dietrieta who can look epee such preparations to the extent
of 40,0001. or 60,0001. ; while, as regards materala, the stocks
may not prove quite so small as interest would lead some to
represent. One house, wo have reason to believe, holds up-
wards of 60,000 tons of ironstone.
With respect tn the unfortunate affairs of the Oak Farm
Company, alluded to in our last notice, a meeting of the
creditors has been held, and it is confidently expected that
satisfactory arrangements will be entered into. The stric-
tures that have appeared in some of our contemporaries upon
the judgment and management of Mr. Boyden, seem to be
rather out of place, when their reports at the same time state
that in two years he has reduced the liabilities of the firm by
more than 100,0001.—Birmiegham Gazette.

DRUMM/L.—BERLIN, DEC. 10.—The King has
granted to the widow of Dr. Dieffenbach an unusually large
pension, being 2,000 dollars per annum. It is said to be a
debt of gratitude for a successful and most skilful operation
which Dr. Dieffenbach had performed on the person of the
Queen, and by means of which he relieved her from great
bodily suffering.
Tllts Potten PRISONERS.—The majority of the
condemned have sent in petitions to the King soliciting his
royal favour. It is thought that for the present the punish-
ment of than only who have been condemned to death will
be mitigated to perpetual imprisonment. Any other miti-
gation and individual respite will be subsequently granted
after the condemned shall have begun to undergo their
punishment and have retrained from making further appli-
cation.

THE RHINE DETIES..—It appears by a corre-
spondence in the Cologne Gazette of the 13th instant
that there is no likelihood that a reduction, much lets an
abolition, of the Rhine tolls will take place at the beginning
of next year. On the other hand, there are grounds for
believing that the suspension of the duties on corn will be
prolonged for a longer period than the one originally fixed,
the Ist of January, 1848.
NATIONAL DEFENCES.— RAILWAY COMMUNlCA-
rtow.—Sir,—The subject of the National Defences," hay-
ing caused considerable excitement amongst all classes of
society, and aroused a &elide of inquiry how far the railways
now in existence would afford facility for transmitting troops
from one part of the kingdom to another, I beg to acquaint
you, for the information of your readers, that application has
been made to parliament for authority to construct a short
railway, for the purpose of connecting the North Western
and the South Western Railways without break of gauge,
by which troops and baggage might be conveyed from
Sootland and the northern sad midland counties to
the southern counties, and thus to Southampton, Goa-
port, Portamontb, Brighton, Hastings, or Dover, with-
out delay or interruption; as, for example, troops stationed
at the extensive barracks at Weedon might be conveyed by
an express train to Southampton in 31 hours, and to Ports-
mouth in 4 hours; which, under the present imperfect rail-
way accommodation, would require at least double the time,
from the delay that would be caused by the transference
from one railway to another—a fact, which of itself renders
the construction of this railway • subject of national import-
ance and considerable interest in connexion with the national
defences of our coast. This short, but important, line of
railway is intended to commence at • point in convenient
connexion with the London and North Western Railway,
near Harrow, paving under the viaduct of the Great Wes-
tern Railway at Hanwell, and continuing its course through
the valley of the Brent, until it arrives at Brentford, where
it will join the loop line of the Windsor, Staines, and
South Western railway, thus forming a junction between the
North and South Western railways, and accomplishing the
desideratum to anxiously sought for not only by the public
in general, but also by the legislature—namely, a link con-
necting
all the r arrow gauge lines of railway between the
northern and southern counties, and thus effecting an unin-
terrupted communication between-the north and the port of
Southampton. for the transmission of the mails and met.
ehandise of all description, and more especially inland coal,
which could be conveyed at a considerably reduced price
from the midland counties to those localities in the southern
counties to which sea-borne coal is now imported, at a very
heavy cost, an advantage of vital importance to the commer-
cial interests. The electric telegraph will be laid down the
whole length of the line, an object of paramount utility to
the commercial classes, in connexion with the arrival and
departure of the foreign mails to and front Southampton,
and no less important for military requirements, is con-
nexion with the national defences.—W. Cli•DWlCK.—Moa-
tague•scpure, Dec. 11.
WHAT SHALL WE DO WITH OUR CRIMINALS ?
This Is a question which, as Sir George Grey very properly
says, there is a great deal of difficulty in answering. We '
think, however, we are enabled to offer a suggestion to the
worthy Home Secretary, which will greatly assist him in the
difficulty he finds himself under in dispesing of criminals,
now that the transportation system is no longer carried on as
formerly. Our plan is, to convert some of the worst
offenders into Irish landlords. It may be objected, however,
that this would be almost equivalent to the restoration of
the system of capital punishments, when we seem to bo on I
the eve of their abolition.—Punch.
DISTRESS AT WIGAN.—NIIIIIEFOES groups of col-
liers, hand-loom weavers, and factory operatives, are going
the round of the town and neighbsurheod of Wigan, soli-
ailing alms, and giving pitiful statements of their distresses.
There must be great number, out of employment in the dis•
triot—not less than from two to three thousand persona—
and part of those engaged in the mills are only on about
half work.