Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1877-07-28

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tne end q Msy lazEe pars ef skse -
vssoe had hsea iasl EsorDsus susn6-
tis Il gr.ia I'D osber Psudscs - -.
Purchsssd o. shipped q spseslaaiss
rates. Tue usexpecsed dsrlise kssagAa,
% 10 not unusual, grcaaer iass shsa -
grain which had resulted from he psuvl-
QUE sdvsnce, and, mossoves. the loss ibal
chiefly upon the commercial clas. Eng-
land imported 81 ,6s4, 900 In value Of ~hsaf
from Russia, Germany, Turkey, asd
France during May, 1877, against osly
G4l7 900 in value during the same mosth
In 1875; and the unexpected supply
from those countries not only caused
disaster to European specslstors, bat
broke down the market upon which
American shippers had relied. Tho ~
gregate imports of wheat were ca, S0k-
600, against e1,797, 900 during May Of
last year. gain Of 81 ,488, 000-and the
aggregate imports Of articles Of food
were $3.50, 900, against R8,817 900 IN
May, 1861 gain of G., 1855, 900. The
disastrous fall Of price was . necessary
consequence.
A similar mistake in speculation ap-
pears to have been made by the deal
ers in wool. The British imports rose
from ca, 248, 900 in May, 1875, to Es,51s,-
900 in May, 1877, and yet only ETH, 600
was exported during the month, against
81, $4,000 in May, 1875. There was
also marked decrease in wooden goods
amounting to about e126, 900.
the operators who had looked
for an increased demand for wool and
woolens, and had bought largely in that
were disappointed. In food
and wool the increase Of imports amount
Cd to ca, 584, 900 for the month, while tho
total increase Of all imports was oaly
60, 248, 900. But the increase in another
respect was not of character to cause
in business. The gensrsl
Of the sugar crop had caused
q marked advance Of price in the pro-
ducing countries, and Great Britain,
though importing ss,000 cwts. less sugar
in May, 1877, than In May, 1870, p.id
$3.50, 900 moro for the raw sugar inn
ported.
Meanwhile, though paying more for
articles imported and losing largely By
unexpected fall of price n important
articles, Great Britain suffered from .
continued and general shrinkage Of prices
Of articles exported, and in this respect
again its experience was shared by this
country. Some improvement was n.Asd
there - here in the quantities of pro-
ducts exported, but there Vas . general
decline in values, indicating . reduced
demand in consuming countries. E.0m
partial returns already received it l. EVIL
dent that American commerce was in
many respects subjected to the Same de-
pressing influence. In short, the cut
break Of VA, which was expected 70 give
. great impetus 70 industry and price,
and especially 10 prices of food and
clothing, has caused, on the coatrssy, .
shrinksge of demand and fall Of prizes IN
many consuming countries, while With
respect b breadstunb it CAUSED an sxress
of speculation and unnatural advaacs a
prices which, being quickly followed By
Q reaction, was disastrous both here ed
in Eagland. Thsss, - hsgs, isdioasioes
promised imProveoaat in b1siaso sRiy
in the year, end ~ roooil has beea faHal
% many Arns cd daalsn.-E. Y. M
PArxR Houxa.-n0e b l9us -
sfactwy b wisesania 80 hssp GlBo
mills csssans&iy r.naisg q bsiE1isg -
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s.nAy $780, - go -
u $50 Fl unmn6wsn = b0n<Dap
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