The Express.
London, England, 1867-01-07 00:00:00

THE EXPRESS, MONDAY EVENING, JANUARY 7, 1867.

than could have been anticipated from the dis-
organization of labour that has been the conse-
quence and complement of the struggle. This
estimate is verified by another important firm in
the cotton trade, Messrs. TRUEMAN and ROCSE,
who also state their opinion that we shall receive a
quarter of a million bales from India in 1867 in
excess of the amount in 1866. By the same
authority, our imports from all quarters during
the past three years have been as follows :

1864
1/45
1866
showing an increase of fully 50 per cent. in 1866
over 1864, and of 40 per cent. over 1865. If,
therefore, the preceding calculations of an aug-
memo,' import in the present year be verified, as
there is every reason to believe, we shall not be
in want of a sufficient supply of the most im-
portant staple of our manufactures.
Next to cotton may be placed wool. It seems
strange in these days to know that in the time of
the EDWARDS stringent enactments were created
against the export of wool from this country,
while now the large supply derived from home is
so far insufficient that it has to be compensated
by large imports from the colonies and elsewhere.
Messrs. J. L Bowas:s and Brothers report
that under the circumstances the woollen
trade during the past year has been,
on the whole, satisfactory, the sudden
outbreak of the German war, the contraction of
the American demand, and the competition caused
by the decline in the price of cotton notwithstand-
ing. Thus the import of wool into the English
ports during the first eleven months of the past
year exhibits " an increase in weight of 11 per
" cent., and the export a decrease of 20 per cent.,
" the balance showing an increase of 38,500,000
" lbs. retained for home consumption." As re-
gards the exports of woollen manufactures an aug-
mentation has taken place of 5i per cent. com-
pared with 1865. This is not much, but consi-
dering that the cessation of the American war
especially affected the demand for woollens there
appears no reason to complain.

Tho iron trade seems to be in an anomalous con-
dition. For years past the production has increased,
yet individual nianufacturers have constantly averred
that their profits gave them but the smallest
interest on their capital. This may be perfectly
true. It is very easy to say that, whether from
want of demand, strikes, or any other cause inter-
fering with the coat of production, capital will
forthwith be transferred to some other locality.
But capital is not so easily transferred. It is
invested in mines, factories, and machinery, and
to dispose of these simply implies that other
capitalists take the place of those departing. The
transfer of capital, as well as the growth of
capital, is slow, but not the less sure. Messrs. G. B.
Toms and Co. give a fair picture of the position
of the trade. They show, that although prices
have lately been continuously declining, still
matters have not come to the worst. The state-
ment that foreign contractors have successfully
competed with English masters in our own
markets has been somewhat exaggerated, and
the fact remains that if they have some-
times though rarely beaten us, we on the other
hand have beaten them on their own ground.
There is no question, however, that our iron
manufacturers are by no means in a prosper-
ous condition. According to the authority before
us—and it seems strictly trim—three causes are
weighing upon the market : first, an over-exten-
sion of works ; second, a higher payment of wages
than the trade justifies ; and, thirdly, the mone-
tary crisis. Messrs. Toms address a few sensible
observations to workmen on the subjects of trades
unions, strikes, and especially the reciprocity of
interest between masters and operatives, that de-
serve attention.

Thus far the most important subjects have been
treated. There are many others, and, indeed, the
catalogue alone would almost fill a column. Messrs.
A. F. and D. MACICAY show that the timber trade
has been dull, consumers only caring to provide
for immediate wants. This, by the way, might
be said almost universally. Messrs. BRAMWELL,
BREMNER, and Co. report that, as regards tobacco,
there has been scarcely any business beyond the
ordinary retail demand—a rather important limita-
tion. Crisis or no crisis, the consumption of to-
ba,co has become so much a necessity for the
people, that it goes on as regularly as the con-
sumption of tea. There are many other depart-
ments of trade to be considered, but they deserve
a fuller notice than can be given at present.

ought to have charge of the whole of it. There would
thaw be no competition for the labour that is in the
market, and ao excuse for Dot hiring and orgaabdng it au
• systematic plan.

to the seat of his government, He will leave Paris
immediately, if he has not already left.
They say that all fates at the Tuileries are post-
poned till the opening of the Universal Exhibition.

WEATHER REPORT.-(THIS DAT.)

MoiDAY, JAailitr 1. 8 LII.

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