New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-12-26

,eytr De forsCt.eu that 10 fac. all merchants deaf
not in the value Of produce, bot in its surplus
value A, far a. the value Of produc' is concsrnfo
they DO nothing but transmit it from the producer
70 TIE cor rum.r. As seon, therefore, as prices
Rave come down 20 low as to not only eat up the
.urplus vsoe but to cripple the very value Of tue
cfmpod,y the merchant is bankrupt, if he Is
not an s1cepti6 nslly heavy capitalist As TAR %
{ ON this distance we can observe tie movem sn's
Of TIE London ard Liverpool markets, We arc In.
clirtd TO consider the execution Of the holders OF
stocks of al kinds of raw materials at those two
places as rapidly approaching.
If we turn row TO the manufacturing districts Of
England We 6rd, throughout mills closing short
time extending, a growing number of operatives
thrown on The street, and fnshdul increase in
the sgsregste amount Of paupsi,m. Az Manches-
ter, Prtston, Arlington, Blackburn, Burnley Choir.
ley, Clitheroe Darwen, Bacup, Moss!ey, Leeds,
HALIFAX, Derby, Mscclesfed, Stockport, BrmiDg'
ham, Stefiie,d, ROchdsle, Barnsley, Bolton, Cd
ham, Carlisle, everywhere the same tale. At
Mscclesfed for instance, where tickets are issued
to the wolkmen admitting them t, soup kitchens,
a provincial paper, representing the manufacturers,
give. us the following description
"From al we can learn we hsve reason to believe
that between three and four persons are on the ave-
rage provided for by each ticket sianly or i've or
six receivrg two, Of Line or tep fhiee aod 20 on
Az the nun Der Of tickets daily Issued s 600 this
gives us The puu Der o0 000to IA 600 persots deprived
of their ordinary means Of support, and dependent
upon the charity fW their daily bread. S1ch nu n
Der, in town of some 40 GOO inhabiants, is tto'y
49, "a an xQrC hiuh
authority, according to which far larger number than
THU have been deprived Of their ordinary means OF
livelihood"
But in speaking of tie impending crisis in the
industrial di,tricts, we mean less tn, distress Of
the working population than the downfall of their
masters. Hitherto o,ly few and n'snihcant
failures have occurred amorg that class, but they
must be considered as mere symptoms OF what is to
happen. The cost Of production for the mauufs:-
turers remains the same az far a. Goals, oil, etc,
ore concerned, whether they run their machinery
abort or full time. TIE main item in which they
are abe to reduce their expen,es is wages. Still,
at the present moment, while stocks are accumu
latipg in their warehouses, and they meet with
day increasing difficulty in finding buyers. the
money they realize from ia!es 10 absorbed. Their
stocks Of raw material are rapidly worked up,
while they are unable to renew them. A great
part of them are short Of floating capital Of any kind,
money Included; indeed, most of them a'e said to
bave fixed all their capital in factories and mschn-
cry while they have carried on business by the help
Of credit Such must be the case, indeed, e. the
snable capital Of the country could bear no inter
est, if not to great extent employed in the process
of immediate production. Now there is no hope
for them Of speedy recovery Of foreign markets,
and tteir workshops are built upon the r'arket CT
the world as their basis. After the comparative
shuttinR I'd Of America there Remained three great
marlets, India, Australia and Germany. The sud-
den and unex peeted demand sprung up in India has
the Australian prospect, 1t will suffice to quote The
Melbourne Argus Of Oct is:
Stocks are far too heavy, and shipments still in
eyeese The value Of the imports fer the year amount
ed 10 ~ Q3; OF the experts 10 go Oh $50 The
imports amour far beyond the legitimate consuming
power OF population Of something under liO OOO man,
women ard children, ard Until some nearer calc1-
aton OF the actual wsnts Of the colony is arrived A.
there ca be no improvement, AT present every de-
sen ptop Of imported nerchandise except Eastern pro-
ducs, is sellirg at very low rates.
Then as 10 the German market, the Hamburg
catastrophe has closed it more hermesic,!y to En-.
gland than the strictsst continental system could
have done. II IT, therefore, only natural that the
British manufacturers should anticipate crash ola
most profound and sweeping character. We find
in all their organs the most gloomy auticip.tions
Of it, approaching outbreak. Its effects will be
deeply felt in this country, especially BY those en-.
tsged in the raising and the selling of cotton