The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-10-14
Trade in Our Favor.

The complaints we hear every day Of the
dullncss Of trade, Of glu,tcd markets. Of
loug-continucd over production. and OF in
Juriuns foreign competition, are not so loud
as those which arc now poured forth by the
press and people Of England, and which also
rcsouud throughout the continent of Europe
Our business depression, moreover is re-
leycd by our enormous exports OF domestic
produce, which are greatly in excess Of our
imports. while in England and France the
exports are declining and the imports in
crcasing.
The Associated Chambers Of Commerce %
England held their autumnal meeting at
Sheffield last month. and the debates Of the
representatives from all tn" great centres OF
trade of the kingdom expressed both anxiety
and dependency. Instead of making
commercial progress, said one Of the dele
Euto-. "Ingland IL rctrograding." From
ls42 to 1872 British trade made marvellous
advance. hut since 1872 the exports have
declined in valIe from Sl,2So0oo,O0O to
Soal.oou.ooo. and mca.itimc, too. tho imports
~ manufactured goods are increasing. and
our grain is now steadily pouring in at an
unprecedented rate
report presented to tho French Senate
lu-t May by u committee appointed To- in
1uirD into tr' eau-r rI The ,Nl-i.ug COM
n,rrci.I suffering. -rurci au ass iHi~n,.-
change la the relative nmounta ~ exports
and imports. From 1872 to 1873 the exports
of France exceeded the imports by sums
varying from about SiU.o00O0O to $4,000 900
in 1876 the tide turned, the imports exceed
ing the exports by Ss0,Oo0,OJO; and in the
first four months of the present year that
excess already reached S7O.0O,OOo. At Au-
! busson the famous manufacture of carpets
is declared 10 be eXtingushed by the COM
petition Of English and Oriental carpets,
and It is VOL known that the advance In the
carpet manufacture of the United States
has been prodigious within ten or fifteen
years. In cotton velyots the English have
Hooded the markets and ruined one of the
indu-trr. ~ Ami"u-. The makers Of looms
and engines nj Roucn cry out that their
trade is reduced to a most precarous con
litiun by the competition Of England, Bel
! gium, and switzerland. Tho whole report,
In the words of MI ions MORLEY, lis one
/ long moan over hcruln that Is being brought
on French industry hy triumphant for
cisncrs.'
Last month the Iron and steel Institute Of
! Europe held its annual meeting in Paris
and was numcrou4ly attended by members
from England and the Continent making il
the most remarkable gathering OF the so-
cicty ever yet held. There, too the groaus
over the depression If trade, and the iron
trade in particular, were long and loud.
The meeting VIA presided over by the dis
tiuguiahod motallurgiat, DR.. SIEMENs who
referred to his inaugural address, delivered
eighteen months before, I'm which he had
dWclt upon the stnEnatiou In tho steel and
iron trade 81 the world, saying that few
present would have thought at that time
that 80 far from selling prices having
| reached their lowest point, they were then
only upon the middle OF a descending in
elmo. Foreign competition was the first
and main cause assigned by DR.. SIEMENs for
the current low prices. THAT depression
says the London H0p, speaking of these re-
marks, has increased since then 10 de-
gree which must have startled the bold
prophets Of cvl who feared In 1877 that the
worst had mot come and " that the horizon
still shows but lew signs Of Frightening,
are points on which masters and men are
agreed
The reports from the iron districts Of Eng
land are all gloomy. Stocks are excessive,
prices continue low, aud business Is in an
unsatisfactory conditions The only chance
of a permanent return Of prosperity for Eng
l~h iruma- tiers consists i'm such ~ great iu-
crcn-r ~ consumption taking place that the
rclightng Of a hundred furnaces could not
do more than supply the demand ana Of
this there IS little hope. The United States
demand for rails, both of steel and of iron
j. gone permanently, and the rail trade has
come 10 hc the maiustay of the largest Eng
lish establishments. We can already pro-
ducc moro rails than we require, and new
J markets are not easy TO lind Extensions o.