The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-12-21
The Condition of England.

The Condition of England.
[From the London Globe, govt organ)
There is not much difference OF opinion as to
the wIsest course when dangers and difficulties
IN view, or are apprehended. You may under
estimate them, or run the risk OF meeting them
unprepared; you may over.estlmate them, and
bend before troubles that will never come and
you may scrutnIZe The premonitory signs afforded
you and extract their signlticaion 10 the best OF
your ability, so that, knowing the Just value OF the
threatened evil, you may be prepared for without
being needessly scared by it. In short, in these
cases, the Peellte axiom'' You have three courses
before YOU may be said to be peculiarly appl,ca-
BILE; consideration which induces some surprise
when we read the Spectators vatlcnatlons touch
ing the coming winter"
Our contemporary can see but one courses and
positively refuses to be comforted. Our exports
nufaclured goods--"a great part oil the foreign
trade is expunged '-'numbers will be out OF work
this winter" and there is no hope tor US TIL
! "Europe is quiet again: till that day, checked
trade Tor England-chr onlc pauperlsm." II cannot
be Denied indeed, that food is cheap and plentiful,
that the prices of manufacturing materials are low,
and the stocks large, and that money is even "re-
dundant." Our doletul contemporary, however,
Will explicitly admitting their truth, can only re-
gard such esentations as deliberately delu-
ives" and, after due consideration of all the
evidence, thus announces what we have to prepare
for:-"The chill season, then, comes on, with
every prospect OF commerce stagnant, our manu-
featuring population IN want, Ireland begging at
her utmost. railways swallowing up money and
dlsgorglng less, economy itself lending hand to
tighten the screw, and trade thoroughly frozen by
protracted panic"
II is hard to contend against the will TO despond.
, However, we will try what we can do. "Prces OF
provisions and manufacturing materials are low"
gays the Spectator, but what then? That, he con-
tnues, is ''good tor the consumer, but how for the
producer!" That, we answer, depends upon cir
cumsances. And what are the circumstances ia
this case What Is that the price OF which Is in
question Food. That we are all consumers of.
And 10 have that cheap, seeing that Its price not
only enters into the cost OF production Of every
thing else we consume, bnt also determines how
much OF our incomes we shall have to spare for the
purchase OF other things, Is surely good for all 1t
is the main element of commercial prosperity in
country like this, one which cannot be dispensed
with, and which has never In the whole course Of
our commercial history, been long In operation
without bringing the rest into play. That low
prices commonly induce complaints from producers
and that such complaints are not only indications
OF any thing blameworthy on the part of the suffer-
ers, is well known. Who that remembers the
stimulus given to our trade by the low prices OF
corn in 1884, 49, 36, does not also remember that
the merry hustle OF the towns was accompanied by
sad wailing among the farmers, and that one Of
the principal events OF the session of 1886 was a
solemn investigation by the House of Commons of
the causes OF agricultural distress % Again. the
summer of 1914, which saw the manufacturers
busy and prosperous, found the farmers behind
hand with their rents, and their laborers burning
the KICKS OF the masters who could not employ
them tor want OF money--corn being plentiful, and
coffee are ruinous to the producers of these art-
Giles; particularly arrangement of the currency
has compelled them, simultaneously, to meet all
their engagements. 1t is pity that public bene-
tit should be allied with private suffering
But II Is, on a wide view Ct our condition as
community, well that among the violent fuctua-
tons which have partially diSorganized COM
merce, there are some the results of which tend to
iacllltate whatever efforts we may now make to
repair the damage done.
Our contemporary is equally unable to under.
stand what consolation can be derived from our !,
having on hand ample stocks of the raw materials
of our chief manufactures, selling at low Prices
is he puzzled by our remark. that re-
duced prices of raw materials softer larger profits
10 the manufacturer" In discussing subjects of
this KIND it's easy to make difference about the
meaning OF word, the foundation of difference
IN argument. The fact to which we alluded, is
obvious enough; nor can we admit that our mode
OF stating it IS deficient In clearness. However,
put II thus The manufacturers Profit is, we I'M
derstand it, all he can get for his goods beyond the
cost OF production. chief Item of that cost IS
The price OF the raw material. I, that price falls,
he margin OF profit is increased. True, the m anu
acturer is soon forced by competition to lower his
oTice too, bur lower prices induce larger consump
on; and II he sells more, though at the same
-atc OF profit he ls still gamer. Hence, tall in
he price OF the raw material is always an advan-
age to the manufacturer. Let food also be cheap, |
20 that the bulk OF his customers may not have 10
'pend all they get upon articles more pressngly
ie cessary than the wares he oduces ard he has
lCIle MIN Nutt we consider very lar ground Tor
rope that he viii not be long unemployed OF even
We do not undetra,e the disadvantage of havlng
he continent In Its present unsettled state But 1t
S not without IT'S compensatory effects to those
Who, like ourselves, take no part in It's disturb
nee. Wales, the lakes and other resorts of tour
SITS in this country, have never been so crowded ,
Is they are this year (and that not with pennlless >
refugees. as the Spectator would have us be- i
leve) and IT is the same with all the chief water
ng places greatpart ofthe "unproductive expen- I
lture" which IN former years went to swell ''for- ?
]gn commerce., now goes on at home. Our ?
manufacturers sell less on the continent, and more i,
n England. If less hai-wrought m iteral las t
arm, &c is sent to our neighbo % they are less y
likely 10 meet u IN third markets and even their .
ome consumption, much OF which Is postponed 4
ather than stopped, must ultimately be supplied o
rom our maikets-these continuing TO offer all D
he advantages OF a cheapness which is not COM u
atible with the interruption OF trade by wars and
umors OF wars.
Our difficulties are obvious enough--they are
OF smal--io surmOunt them we shall need all
ur courage and energy but we do not any where
ercelve a disposition TO under. estimate them,
lough IN some quarters we have doleiul antici-
aloDs--on the score apparently, of certain favor
e sts tesmen not being IN Office. =
DIsAPrEARAscE OF LoT's WIFR.--SINoAp oRE | u
ug. H-ltls our duty this week To chronicle the | Q
ppearsnce Of the we'll. known Of rock situated
the singapore eide Of the western entrance TO New
az Dor called by the natives Batu Belayir, and BY
'fed Of mass Of very hard coDglomsrste, partially
ysfallized, has been to navlatora A., the | ~