The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1872-08-16

THE extraordinary activity which char
acterizes commerce and industry in every
quarter of the globe is without precedent,
without apparent assignable cause, or re-
sulting from unhealthy speculation.
Tn the United States prosperity IS the
rule; and even ship-bulding, which since
the commencement Of the war has been
stagnant, is now partaking in the general
activity. .n.g..s-el .5e agas.5.s sats.
Producers Of cotton realize prices which
ten wears ago would have been deemed I'M
possible; yet the manufacturers grow rich
on manipulating dear cotton, because OF the
increased ability of the mass of consumers
to purchase their manufactures. Iron
smelters are loaded with orders, at such adj
vance in price as covers largely increased
expenditure for coal aud labor; and there
is room for importations OF much magnl-
tude. .AH "tH&t
Wages of labor have advanced and are
still being advanced, yet the employer finds
his profit from the ability of those for
whom he is engaged, to pay increased cost
of building or manufacturing.
In Great Britain this activity is even
more strikingly noticeable, for the reason
that the toiling masses so long stigmatlzed
AS "the pauper labor of Europe" have
found themselves masters of the situation
and dictate terms to employers which atew
years ago would have been successfully re,
sisted, and even ridlculed. Iron-masters
there, as here. have TO refuse instead OF so
licit orders. Coal miners are establishing
advanced rates wages. yet the conse
ouent rise in coal does not lessen the de
mand, indeed, consumption is reducing
stock everywhere.
France, scarce on peace footing after
disastrous war, is rapidly assuming he
former industrial activity, and borrow
money in fabulous sums to meet the inden
nty enforced by Germany while in tn
latter country there is unwonted energ
displayed, amounting to speculation at tn
money centres. 4f.. .....,t
Doubtless three grand agencies are il
strumental in producing the activity
which we have alluded the gold deposit
of California and Australia, augmentir
the bullion basis of commercial currency
imoroved and multiplied means of int
communication both by sea and land an
emancipation of serfs and slaves, as
Russia, the United States and Brazil, 500
to be supplemented by Cuba.
Every dollar of bullion added to I
banking basis represents more than ii
fold increase of commercial currency, hen
money is readily obtained for operatio
which would have staggered projectc
years back.
The Pacific railways, Suez canal, and
countless ocean steamers which brio
oceans from continent to continent ;
giant agencies in stimulating commerc
while ocean and trans-continental telegrar
have absolutely annihilated time and d
lance. as distractions to free interchan
of business intelligence. The millions
thralls, now free agents, have prov
their common humanity by becom
daily purchasers of luxuries comp
atiyely speaklngl instead OF occasio
customers for barely decent neces
RES. Not one of the bold utilitar
OF humanitarian experiments for VIII
the present time is remarkable but
proved success and former timid dou
ers find ample ground for enlarged fatl
man, while skeptics of the 3aisseg fl
school are silent if not converted. I
whittier we may, we find more than abu
ant cause for pride that we live in
nineteenth century, and are permit
each and all, to participate in the worI
the glorious present, and to confidently
ticipate a still more glorious future =
- Let us then be up and doing,
With a heart for any fate
Siill achieving, still pursuing,
Learn TO labor and to wait"