The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-08-01
TIE coA1 PAN1c IN ENGLAND.
An Extraordinary industrial Phenom-
enon.

The whole manufacturing industry Of Eng
land is just now In the most intense excite
ment, owing to the unprecedented rise In the
price of coal. All through the present year
coal has been rising rapidly In price. in Eng
land, until 1t is now between sixty and one
hundred per cent. dearer than 1t was twelve
month ago, and Is constantly on the rise. Be-
sides the many trades directly affected, coal is
an element entering go essentially into almost
every production that 1t is scarcely possible to
think OF any important industry the condl-
tions OF which may not be almost vitality
changed by the present state of affairs Many
reasons have been suggested for this extraor"
binary phenomenon, certainly without any
precedent In the present generation, IT. In
deed, 1t ever had precedent. Some have
thought 1t might be the result of mere tempo
rary speculation, others that 1t may arise from
an inherent deficiency In England's mineral
resources. The former of these suggestions
is scarcely worthy of notice, the disease hav-
Ing evidently deep and more lasting root.
As to the latter, the best proof against IL ID
that the rise 10 price has not prodted the laoor-
ers engaged. Had 1t arisen from any Increased
difficulties of mining, the result Witnessed
would have been only an exceptional rlse III
the profits of some mines, according ss IL De-
came profitable to work mines OF Increasing
difficulty. The true cause Is to be found In
very different direction, and the London Econ-
omist thus explains It:
Within the last TWO or three years there mas
undoubtedly been an Immense increase IN
every sort of manufacture throughout the
world. Railroads have been extended, steam-
ers have been multiplied, machinery IN every
trade has been increased, the effectiveness OF
machinery has been daily intensified by new
Inventions. The result ls that the producing
power OF mankind is at higher pitch than lt
has ever been, and 1t follows that not only are
the raw materials of every manufacture IN
great demand, as they are In every prosperous
5eriod, but the instruments of production,
especially coal, are now pre-eminently IN de-
mand. Production has Increased 30 rapidly
from q variety of causes that 1t has oVertaken
the supply OF the instruments with which lt
works, and coal is the great instrument E6-
perlence and theory combine to teacn us tnat
in such circumstances the article 80 much 10
request should 60 to famine prices. POLITICAL
economists are quite familiar with the great
fluctuations in tue price of food, IN conse-
ouence of comparatively small variations In
the supply; and as regards prices, coal ls now
In the position OF food when the harvest mas
been deficient. The case would be exac' ~
analogous If we could suppose, instead OF an
insufficient harvest, the sudden introduction
of q new population to compete for the old
supplies. The supply of coal and the means
of supplying it have not diminished-haye, on
the contrary, greatly lncreased-out the SUD,
den multiplication Of the wants OF the world
has had ali the effect on 1t which the sudden
Introduction OF great many new mouths
would have on the customarlly sufficient sup
plies of food.