, 1876-09-09
Hard Times.

taken q wide sweep. Ii has lnciudea
Austria and Germany in It's operations
as we'll as in this country. In each
case the process was marked by great
activity IN speculation, immense out
Law in unremuner2iiye enterprises, col
Iapse of credit, shrinkage OF values
and indus,rial depression. Ar. Jen>
nings, in his London letters to the
New York World, has given a graphic
description Of the genera! depression,
which Is fGliy corroberated by the
Journals. Of course, in q country
where the accumulated wealth Is SO
vast As in England, the social aspects
of hard times vary from what ;hey
would be am NJ a people more de-
pendent upon temporary supplies, bat
they are none the less percePt!bie.
The London Spectator says
Everybody says these are very
hard times, aud from one point OF
view al least, everybody Is night
These are very hard times tor the
wel!.to-do, and for those who depend
in any degree on their weil-tO do bu>l
ness. Il IS true that many OF the
usual signals Of public distress are
wanting: that the revenue does not
decline seriously : thai there IS no cry
for public economy 3; that the average
of pauperism is exceptionally low :
that WAGES, though recediDg, especl-
allY in the iron and coal trades, are
not abnormaIIy bad that the people
waste quite as much as usual on their
drink: and that bread is exceedingly
cheap, in spite Of coming harvest
which the corn spectators believe can
hardly yield lull average supply. l,
is true, also, that luxury seems as
rampant as ever, that any amount OF
money is forthcoming ior Old china,
for pictures with approved PedlgTees,
and for " bits Of land - and that
capital, usually 50 difficult to hire, j.
now to Je rented at rates which Is
hardly worth bankers while to iake
Bat sliIl there is very great distress
among large sections Of people, and
that il IS worth while to notice where
that distress appears to be principally
telt. The cry comes from the com
Portable, and the classes whom tney
usually maintain"
The Spectator gives 4 whole cata-
iogue ot the victims of hard times
Thousands o. horses fit only for Showy
work are eating their heads off in the
stable. Furniture dealers can only
sell the most ordinary goods. Coach
men are out Of work, likewise buffers
grooms and servants. Clerks are
suffering lamentably, ihe hard times
retreuehmeuL and bankruptcies hay
ing ;hrcwn shoIis Of :hem on the
market. \ pecuIiarity Of the depTes
sion among the tradesmen Is that the
halter seems to suffer more than any
Of his brethern The Sp8rjat0r ex
plains this as follows:
Nobody wears 4 hat out rs he
wears q shoe out, and nobody waits as
long as he might to buy new hat.
The consequence is that most we'll "a
do people could DO very well with halt
the hats they buy, and whenever they
are retrenching they abstain from
that particular purchase, till halter
may find himself left for six months
without any custom at ali"
But the hatters are not alone in
grief. Tai.ors, shoemakers, jewellers,
fancy goods sellers and book dealers
are all complaining. Two thousands
coachmen'S names are on the books of
one house seeking employment. In
the manufacturing districts and in the
agricultural dirtricts the depression is
very great. Extensive bankruptcies
have occurred, production has been
cuFlailed, hands discharged and WAGES
cut down. The worst OF il Is that
there IS at present no prospect Of re-
vival Of activity The exports Of
Great Biitian, which have already
fallen eff immensely, are steadily de
cIining, and now financial disaster
seems to be impeHl over India, which
is cue Of Englaud's best customers.