The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-11-03
A GRAVE QUESTION AND GLOOMY
OUTLOOK.

A GRAVE QUESTION AND GLOOMY
OUTLOOK.
Sagacious statesmen who profess to have
an insight into financial problems that are
hidden from ordinary mortals in the womb
of the future, predict that the immense bal
ances of trade in favor Of this country, will,
if continued, most seriously, and possibly to
fatal extent, disturb the financial conf
dence Of all the leading commercial and
manufacturing countries Of the old world.
The balance, at this time, amounts to nearly
a quarter of billion of dollars year, and
such balance, maintained for even score
Of years, will, it is argued, impoverish all
Europe and Asia and throw the whole en-
lightened world into confusion and dispair
The immense drain is already falling almost
wholly upon the precious metals, since the
interest upon all Of our bonds, held by for.
eign capitalists, does not aggregate the sum
Of twenty millions year.
The problem thus forced upon the atten.
ton Of the financial savants and patriotic
law makers on both sides of the Atlantic, is
held to be the most grave and important
with which they have ever been called upon
to grapple. England will be the first to
succumb to the exhausting effects Of the
drain, since the increasing deficiency Of her
home.producsd food, and the success the
United States have achieved in competing
with her manufacturers, are sure to render
the balances heavier and heavier, and finally
such as she can no longer honor.
One Of our most prudent political econo-
mists has truly said that England no longer
defes competition in anything. France, Ger.
many and other European countries are
showing her to the wall in the prosecution
Of productive industries, while the manu-.
featured articles Of this country are finding
equal if not reader sale in all the markets
which the trade of England reaches.
This fact very pointcdly argues the early
distress and impoverishment Of the English
people. They have, for more than two cen
turtles, lived upon the earnings Of their Bir-
minghams, Manchesters, and Liverpools,
which enabled them to secure the necessa-
ry food for their teeming population. Amer.
lea was her chief market, and exchanged
for English fabrics its corn, its pork and
-four, but now America is her competitor,
and sends even into English markets the
products Of our manufactures. The Uni
ted States have attained this supremacy at
the end Of century's effort; and as it is
our destiny to multiply our farms and fac.
tories, it is safe to say that II is also our
destiny to maintain the position as feeder
aud clothier of the world. With undis.
guised solicitude an eminent English writer
asks: "whst is England to do in the face Of
her increasing demand for food, and her
declining power Of competition in manufac.
turings3" Answering his own question, he
says that unless radical measures are
speedily adopted to establish such an
equilibrium between population, pro.
duction and commerce as will guar.
antee stability Of government and
tranquility among the masses, the star Of
highlands greatness will be dimmed by
scenes Of chaos, misery and disaster that
will shock and appall the whole people of
Christendom." The handing over Of the
parks and preserves Of the nobility to the
spades and cultivators Of the gardener and
agriculturalist or depopulation by emigra.
ton, either the one or tho other would be
extreme measures; but to this England
must ultimately come or 60 farther and fore
worse.
In the grave problem thus presented no
people outside Of the English isles, should
feel deeper concern than the people Of the
United States. The interests Of agriculture
here are deeply involved, since the pur-
chasing power Of that country must 30
hand in hand with her declining manufac.
turing industries Deprived Of the means
to buy, her redundant millions must suffer,
while the granares Of our western prairies
are bursting with harvested crops that can
find no remunerative market. Our fears
may have weakened our forecast In this