The Sun.
London, England, 1866-12-26 00:00:00

Annual Report of the Scotch Iron Trade,

(From 7'hornburn's Glasgow Trade Circular.)

The developments—morally, materially, socially, and
commercially—of the year 1866 have been perhaps more
wonderful than those of any year in the history of the
world.

In the United Kingdom, more particularly in the
southern portion of Great Britain, we have experienced the
disastrous effects arising from the reckless development of
the joint-stock system, applied so indiscriminately to all
branches of enterprise.
With reference to our banking and monetary system, it
cannot have escaped observation that whilst a national
bank in Paris so managed that its rate of interest fluctuated
between three and five per cent., giving an average of
three and three-quarters per cent. for the year, a similar
institution in Threadneedle-street, London, has so managed
that the rate for money has ranged between three and a
half and ten per cent., averaging for the year seven per
cent. The famine in Ireland having destroyed the bread
monopoly in the United Kingdom, it may reasonably be
hoped that the panic and crisis of 1866 will give the death-
blow to banking monopoly.

On the continent of Europe a rotten and bolstered up
political system has fallen to pieces during the progress of
a seven days' war.

In Ireland, and among the vilest section' of the people o 1
a few of the American States, under the name of Fenianism,

the doctrine of robbery has been promulgated in a manner
hitherto unheard of.

This year would have beeti ever -memorable had there
been no other achievement than the laying of the cable
across the Atlantic, by means of which direct telegraphic
communication has been accomplished between this coun-
try and San Francisco, thus extending over nearly one-
third of the circumference of the globe. The success of
this undertaking has, however, had no effect in alleviating
the prevailing depression arising from the adverse circum-
stances indicated above.

Therefore, it is scarcely to be wondered at that our
national industry has not escaped those unfavourable in-
fluences. It is, however, gratifying to remark that the
iron trade has suffered in a less degree than perhaps any
other branch.

According to the fronmasters' returns, just made, the
quantity of pig iron produced this year in Scotland was
994,000 tons, showing the striking decrease of 142,000
tons as compared with last year.
The deliveries per railways, the shipments foreign and
coastwise, combined with the local consumption, wore
1,136,000 tons, and show a falling off, when compared
with the preceding year, of 136,000 tons.
As certified by the committee appointed by the trade
the stock of pig iron is now 510,000 tons, thus exhibiting
the marked decrease of 142,000 tons as contrasted with
1865.

During tho year the price has fluctuated from 82s.—
the highest point reached in April—to 515., the lowest to
which it fell, in May, averaging 60s. 6d. per ton, against
595. 9d. per ton last year.
The malleable ironworks, the foundries, and the ship-
building yards, have felt the languor of the depressing
influences which generally prevail.
Taking into consideration the steady annual accumula-
tion of the wealth and resources of the British empire,
there is reason to hope for a considerable improvement in
the iron trade in the coming year.

_LUCKY YOUNG LADIES. —The prize of £6,000
at the lato drawing of tho City of Paris Bonds was gained
by the Diddles. Bonnaire, daughters of the supeed)tondent
of tho forage store for cayairy at A.yeanea.