The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-10-25

THURSDAY, OCTOBER 25, 1860

It's an interesting study to note to what an
an extent the law of compensation comes into
play in different countries, as modifying agent in
what might otherwise become great commercial
crises Take, for instance, the condition of Great
Britain, as compared with that of the United
States during the present year. In England, and
the adjacent islands, they are complaining
of deficient harvests; but, at the same time, we
find that in most of the branches Of trade the
supply of manufactured articles does not keep
pace with the demand. They short of
breadstuff5, but the labor market calls Justify for
mere workmen, and the workmen for higher
rate of wages. We, on the contrary, are re-
ioicing over abundant harvests; but, with the ex-
ception OF our manufacture of cotton, we have
lust reason to complain that in nearly all of the
other departments of industry there is very
larre number of hands that are unemployed. Our
heavy crops of cereals, while they tend to relieve
the industrial classes from all apprehension of ex-
hausting their limited means by being forced to
pay famine prices for their food, also serve
TO liqudate considerable portion OF the debts
due by the Western merchants to those OF the
Eastern cities, and thus, as capital flows back to
the great commercial centres, new impe-
tus will be given to skilled labor. 1t may
ake some time vet 10 adjust the balance between
capital and labor and to revive that spirit of en-
terprise which was checked by the financial diff
culties of 1857 and 1858; but the reactionary
movement is already apparent, and will soon be-
come more distinctly developed. In England, so
great is the demand for labor that all the old dis
tinctions between the employer and the employee
are giving way, and the men-partcularly those
who are engaged in the lower and worst remu-
nerated grades of labor-now dictate their own
terms, and exact compliance with them; well
knowing that if their services rejected in one
place, they will be eagerly accepted in another
1t is a singular state of things in country where,
but few years back, labor was drug, and
where mechanics and artZans were but TOO happy
to obtain constant employment at moderate wages,
and confirms the opinion that certain cauSes-which
are varously explained by political economists
have operated to produce most salutary change in
their present condition and future prospects,
Some attribute this Unprecedented industrial &C
tivity to the adoption of ''free trade" Others
ascribe it to the enormous influx of gold into Eu-
ing production by the perfection which machinery
has attained and TO that more rapid intercourse be-
tween nations which has been brought about by the
use of the electric telegraph and by the employ
ment of steam on land routes and in ocean navi-
CATION. Doubtless all these causes have combined,
in greater or less degree, to promote the extern
sion of the area of demand, and to unsettle the
relations that formerly existed between the en-
ployer and his workmen. 1t is, moreover, curious
to remark how closely the complaints of the Eng
lsh resemble-in one respect-those which we our
selves have been accustomed to hear every day.
We have gotten used to them, however but with
the English it is new trouble and the outcry
they make it is the greater by reason of its
novelty The difficulty to which we allude, and
which has been sprung upon them of late years
is the want of good domestics. Says an English
Journalist, in discussing the demand for labor:
The condition of those requiring domestic servants is
still In it is absolutely impossible to
get them at all. Even Irish girls, that have hitherto
been the resort in cases of emergency have now caught
the general spirit and demand eXorbitan wages with all
kinds of mmunites and especially that the mistress shall
not be cross If a mistress should have courage
enough to give her maid notice, ten to one, should
there be any intending applicants for the place
rather doubtful thing after asuch will be intercepted
and told something that will send them back again,
determined to make no application at all 1t would be no
difficult matter to point out whole of respectable
houses that are in possession Of few vragos who man
age their blockade skilully to make 1t doubtful
whether they not succeeded in establishing des
potsm with all the present signs of perpetuity."
Aud this is in England, where service was, Of
very recent date regarded as an Inheritance; where
cooks and lady s maids, and JOHN the footman,
and THOMAS the butler, and all the other servitors
of greater or less degree, were only too happy to
snugly enscOnce themselves in good place, and
only too careful TO keep as long as they possibly
could. There is, unquestionably, at this time, net
only in England but in France and Germany also,
a new social adjustment in process which may be
traced, in part, to the spread o: those democratic
ideas which tend to foster Independence of action,
under the stimulus of condition of material
prosperity which has no parallel in all the his
tory of trade. With us, suffering as we have been
for the past two years under the depression Of
financial eubarrassments which have seriously az
fected our industrial interests the exact converse
to the condition of things existing in Europe has
made itself apparent. There, they have abundance
of work, but accompanied with limited supplies OF
food here we have abundance Of food, but our
labor market is overstocked. In both instances
Tue law OF compensation Is, as we nave Salu, Wolh-
ing avorably. Our excess of breadstuffS will meet
with ready market in Europe, and with the res
toration of commercial confidence which will thus
be brought about all our various branches of in
dustry will enter upon the same career of pros
perity which signalzes the operations of trade
abroad. With the conceded advance in wages
there, the cost of labor will approximate more
nearly TO our standard, and will naturally in
crease our ability to compete with foreign manufac
turers in their own markets. 1t may be, however,
that our population will not expand so rapidly as
1t has done heretofore, for besides the natural in
crease, we have for many years, been reinforced by
vast numbers of emigrants, chiefly from Germany
and Ireland. large decline in the number of
those who dsembark on our shores in search of
employment, and in the hope of enjoying larger
share of political liberty, is already perceptible,
and it is evident that, with the pressing demand
for labor at home, and the improved social condi-
ton which springs from higher wages, there will
in future be fewer instances still of selfexpatria-
ton