The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1878-11-07
SCHEDULE.
The Condition Of Trade.

New York Sun: The long con
tinued depression Of trade in Eng
land is now producing disastrous re
suits in the way Of commercial fail
ures OF great magnitude. These ex-
cite the more alarm because they are
believed to be only the beginning
OF the business troubles tor several
years pending over the country.
The settlement at Berlin proved
of no benefit to English trade
though much was expected from it -.
and now, as throughout this year,
most of the great branches of COM
MERGE and manufacture are. in the
language of Mr.. John Morley,
"dull, unprogressive, and, in some
cases, obstinately stagnant." All
the markets are overstocked. The
collicrIes of Great Britain have not
worked more than seven days q
fortnight on the average during the
Last two years. The iron trade Is at
tie lowest ebb and cotton manufac-
turing is SO dull that wages have
been reduced, and strikes are oc-
curing in the north of England and
Scotland, where the outlook is of
the gloOmiest. The glut of cotton
goods III Lancashire is described as
Unprecedented, and measures TO re-
str ct production have bt en- adopted.
The Clyde shIp-builders have cut
down wages seven and a half per
cent.
In the Indian ports $IO,0OO,00O
worth of British shipping is at pres
enJ lying IDLE, and one OF the larg
est and hest informed ship owners
in Liverpool declares that ''in no
part OF The world is any shipping
concern, unless it he some small,
obscure company in possession of
a speciality, making a profit; while
our ports are crowded with sound
vessels, which nevertheless cannot
be sent on any voyage wheI elm the
receipts promise u equal the eXpen
SEES" Ia wor-Jed and wOUlen man
ufactures Englai d, however, has
been doing better, the accumulation
Of stocks having been prevented by
limiting the production of factories,
though the profits for the last four
or five years have been small.
The same story of business stag
nation comes from all branches of
trade, and it is repeated, not only
in England, but also all over the
continent. Even in France, where
trade 20 long withstood the influ-
ence which heavily depressed it III
other countries, the cry OF alarm is
now beginning To be raised. Re
ports from Lyons up to Sept. rs
represent the last month as one of
disappointment To the manuiactu-
rers. Mt only was the'e no revival
of trade. nut the month was dulier
thon usual.
In tie u S, ON the contrary,
we are now beginning to hail The ad-
vent OF Ii sound revival OF business;
but il the trade experience of Eng
land shall prove AS calaIniJous as 1t
is feared 1T will he. we shall have to
bear some share of the trouble, for
any extensive arrangement in val
ues abroad cannot fail to have it's
effect on our markets. England is
now largely indebted to us and is
our best customer, and her financial
distress must assuredly awaken
alarm here.
Business cannot yet be called very
active, but the evidences of it's i'm
provemeDt are visible, and it IS large
enough TO prevent such a disastrous
accumulation of stocks of goods as
that from which England is now
Everybody has at length
been forced TO the conclusion that
with prices reduced from one-third
to one half, profits must also be
smaller than in the old days.
Our exports continue enormous,
though last week they were some
what less than in the week previous,
still reaching. however, So, S6S, 904,
against S584l, 56S for the CORES
ponding week last year. Our total
exporCs since January have been
1915. 4S6,876, against S22l,Sl2, $40 |
for the same period in 1877