, 1877-05-05
HARD TIMES.
The Situation Here and in Great
Britain.
Depressed State OK Business in Both
Countries.

Noteworthy Articles from Prominent
English Newspaperak
TIE UNITED STATES.
Eondon 7Ints. Aprit 10.
The etAgnatton OF commerce and tndnstfy In tho
United stntes has for long time petpcxcd and IT.
r1tatcd the speculative world. Tho acprrshion be.
gnn nearly four years ago. and has continued up to
this ttmo with scarcely auY rcrceptb!e intetHfs.
slon or relief. The industrial interests OF tho
Union havs been pHsalyzcd since the panic OF 18Th
and tho long expected revival has not Jet made
Itself manifest. Standing upon tho verge Of
European wns, VIC nrc deeply Interested In fnQutr.
Ing how far our trade With the United States has
been affected by recent and impending cycnts.
It appears, unfortunately, too evident that
Tho powers Of the American people, which, In tho
domaln b.. commercial and industrial progrcss
seemed to 81 capable Of definite expansion, have
been brought abruptly to halt. The 1ssmal Incl.
dents OF tho past winter have left tho people Of tho
United States face FACE with both dangers md
remedies that have been long familiar to Old World
societies. Thchmcr!csns have now, alaaoat for
tho asst time. been enabled to understand by prac
teal experience whnt srKrnney mcnnA. what pau'
porisn,. what cn,!urat,on-hnd emigration, too. It
| mnst bc admitted from country that btItl 0flcrs
magnificent advantages to insnstssousana energetic
men. tits certain, also, that the spirit ut tho Acri
cau people remains nnbsoken. Apanic OF more thnn
ttrrc years. duration has not disIcartcned them;
they nsc hopeful now ~ they wese n 1874. wu
| published on Monday n statement Of tho business
failures that hare occurred In tho United statra
within tho Inst two years. md these statl'tlcs.
gate amount of cantu involved. were moi, on the
whole, encourag,ng. In ne 1rtt GIaf@act @ ol 1877
ss2s;s @ s sffs % tns Il ins ss s sse saea 81 s
cedlng year tho atlnrc6 Of tho same casf wore only
a,s0j. In the rear irss mentioned. however. tho
astsr a es{ s'S u; "ss rs Ee.pones @
oneath Of tho l'iaplics Of tho States, while IN
%oa va o. 95 Ha
thetctore. tllese ttati'tle: DO not hold out much
s9 9ss. ha's o'. ss spaad a
i5ailie q the Net snS whsn thsto i i llsreet
on The Pacidc siope. Tho most obvious Inference
aasne w e ths es e Tas s he
sss II. how now made @ :sf psasy s al over ths
Tho collapse OF American enterprise has been rc-
sently, ,proved in many other Wnys Tho ,,s.; WITH;
States. which son,o lime ago was regasdea a. an
exceptional ease. has hesn @ @,epeated ossr ;l and
a. 9 NSs 9x
aEo steamer iii Sew York for sidney ,Yti. ffo!n
Nv W ~ elh'a!ats os uont.t "ost sh' - 70
.eanently .le very eest class & OF @ setters: TUT. Thts
thu for s iau etwcen se the ns
ihs w!nter We DO rot THINK tas IT,, eve ~ the m9't
ss s.1ess sa afey BY y IT, " Sew
journalists was 40 terrible that any means Of lt.
gas |. ons so oo fa, ts tntc s'n,e. oT ~
Australia TINT wc harn to consider aonc, nor even
n ntrt n,
e. i a's!eastt!s isilars. ii. si.e: snd chiefly.
IT, IT, ones, os,a Q. c!nx M tn
se gnte ms for tmc dsaysa fS , tsttls r
asnt Of ~ aoH4 ,,a oat
dsnt ilayes has scceiscd ssa np2fon'a!tsen o. aas
aSa an !. Wea tnat nv
:ss!sas epps:i'lss, Tsess i: se*asss. %oss
aamo,eneo oe'non non2 ~ tfSSozh1Sa sSn ,s,
nr Fl en1 ea1 nrrsrnt pa @ 'f
.ss. man1sst tsat H. l;adsa MspuSl,e;,ns ;,s
p1 5sax md Ts III sTcsono'
= pSaseG. ann. 'es. aes "s"
sd,a,t.cd Tint ths prospect ii . Enropeau .war
sn unt.ons q war; sue ts gfffa. Sssan 1.eam
mai',,ee9tly fsyorsnlo change " da!intshlns the
"S e. y .n oGea ays XII ns., anu
1saonnsns !Sss r. ,sslinx s%Ppas sSa,;
nsniss IN L'ysspool haa osea conpsliea TO rsdaea
' LSs y. s;.r III a' maa
nnas1 ptesGnt sGonnm" an . ts,1a
az IN ~ e ro s,a,o,t ,n'no,." "a 'S n9cnf ,"t
uu nhu atW ~" 1r;."st .ni.osretut ~ t.uLnIci
wh!le homgwara freIshts. though hitherto tolsf'
h easy 70 3o,a,a ate aos Icy nhpfonGtoo'
& no Gfsn H. tsaus nnt nase moen.aty @ n,,
onsn sne % aMs,si7stu a. shot s G.op ~ "tc vnasM
stats has SlSen u cneek. Eysn !he american
ar"rccfstan IhranS tnna,n,v g,nt Th,. ncm
a es11 rss9' at hoai Ut .na teaanE fa9at'0htc
m,f"3 ~ H. ". ~ r.1ssd o.s IL.
nt,, Masu,.., W. WI, .uv .,!n tr, S nS,eea ~ @ W.
ps1en 9ly tnIso ,tsaass* r. ase wseks So tat
ea I'll, W ,oua ~ WIZ IT, ~ IT, IT,
sn.p ELI E H. ~. t.u III @ " tns scso
t2 70 WHEEL XII tneY Ma.e So,s cahot 90 con!ssu.
,,., ~ I.ac t ~,
vely f,uohy. ana tnat to'"Pansa' eyes no otrak
~ tns etoaa5 ', ~ ~ x'sauc w LIN country
San sypn.hhr M - '"otu t neay wisM put klmsn'e
ncsnaao ~. .5.' atss pe.!Tu - uneaaht!eu
prospel,tJ anu netsJ, hAte iallcH oaeR into ttaY'