Northern Times.
Liverpool, Merseyside, England, 1859-01-03 00:00:00

BRITISH MANUFACTURES,

We have had years of low and high prices, of famine
and distress, of speculation and of crisis, but we vainly
look in the annals of Trade for one which exhibits
greater contrasts than the year 1858, whether we con-
sider the changes which occurred in it, compared with
its immediate predecessor, or with the circumstances
under which commerce and the manufacturing interests
of this country have been carried on in previous years.
We began last year with unparalleled commercial depres-
sion and gloom, and with the drawbacks of a crisis the
effects of which were seriously felt in all branches, and
before its close we are dazzled by the splendour of the
prospect
khich'unexpectedly breaks in upon us from the
East, the very country which gave cause to anxieties and
distress but a short time ago, and from which quarter
the downfall of England's sway was predicted by many
of our continental neighbours. Not only are we now
free from such anxieties, but rejoice. to say, that the
falling off in our exports to other countries has been fully
made up, in quantity at least, by the increase of our ship-
ments to the East Indian Markets, and as we owe to these
transactions the improvement which has taken place during
the past year we devote some space in our present report
to this part of our Trade in order to sholi what proportion it
formed in the entire trade of the country. The quantity
of cotton fabrics exported recently to the East
Indies and China, is equal in weight to nearly one-
third of the total weekly consumption of cotton, it
amounted, however, to one-fourth only during the ele \ n
months of the past year, ending 30th November. In
quantity, India and China have taken during the period
named, 41 per tent. of the total exports of cotton goods,
and 201 per cent. of cotton yarns, in value amounting to
41 millions L's That trade follows war, is an
old saying, which has been exemplified on various
occasions, and also not very long ago by the
Crimean war. Other causes have, however, been at
work in India to stimulate the trade with that vast
empire. We believe that the extravagant prices we paid
for produce, unnaturally raised by overtrading in 1857,
have been mainly instrumental in creating an unusual
demand for our cotton fabrics. Sendings of bullion, both for
the balance of trade and for the requirements of the army,
„which had to be suddenly increased by some 30,000 or
40,000 men, attended in that luxuriant country by many
hangers-on, all consuming, at a war rate, the products of
:the earth and commodities of the loom 'or hands, the
spending recklessly the treasures wherever to be found,
indifferent to whom they belonged, have all tended to the
same end. 4.dd to these the money spent in railroads and
roads, by which the forwarding of cotton goods to the
interior is facilitated ; and, lastly, the neglect the war
has engendered, in cultivating cotton in some districts.
generally worked up in the country for home consumption
—and we have at least the chief causes which explain the
extraordinary export trade to the East. Will and
can this last ? is the natural question. of all, for
whether engaged in commerce to the West, to the
Continent, or to the Narth, it is a matter
of the utmost importance to ascertain whether
the exports to the East can possibly go on at this rate,
So far, experience has but .too often shown us that one
extreme begets another—that the looms of Manchester
are 'capable of over-supplying any market; and it is
nothing new to hear extravagant notions expressed on
the part of the producing class, that the demand will
henceforth be larger than the " workshop of the world"
can possibly supply. We know, however, too little, as
yet, of what India can do ; and while we name the cons.
of the ease, let us also state, **pros. of it. We hear
from a valued friend of ours—and one who is not prone
to exaggeration, while he is praetically engaged in the
trade,.the benefits of which he has largely and deservedly
shared—that India would, for some time to come, and at
a certain price, take the bulk of our productions in goods
suitable for the Eastern markets. We must not overlook
to remark that our rivals in trade will all look to the
East, end endeavour to share the profits held out by
present circumstances ; yarns will be sent from the Con-
tinent to Bombay and Calcutta, and American grey goods
will find their way to the East, if the present prospect
continues. The effect will-certainly be, that the manu-
facturers abroad will be able to compete with English
goods, the prices of which are accidentally and unna-
turally raised by extraordinary circumstances.
Du FAY AND Co., Manchester.