The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1879-01-02
THE BUSINESS FUTURE.
A ForcbodinE of General Dlan utcr

THE BUSINESS FUTURE.
A i'orcbodipg Of General Disaster.
4 correspondent Of the Cincinnati
EM9uirer gives the following interview
with Mr.. Armour, of Armour, Planl,ing-
ton d Co., the largest pork and provision
dealers in tie United States. Mr.. Ar
monr has just returned from England,
and he is filled with alarm at the distress.
ing financial status of Great Britain.
What is the matter over there 2" |
asked
"a general financial ruin star.s them
i'll the face all over England, Ireland nnd
Scotland" aid Mr.. Armour. Blanks
and individuals are failing everywhere.
lhc newspapers do not hall tell the story.
The English people are in n dreadful
condition. Manufacturers are running
behind, the tenants cannot pay their
rents, real estate has shrunk in value and
cannot be sold al any price, the mechanic
is idle, and the farmer is poor
rcnts?"
Because their crops do not pay
Prices for farm products are so low that
the farmer only makes enough TO live on.
lhc 5000 land owners are out in the
cold. They cannot collect their rents
nor sell their land, and many seemingly
rich families arc actually suffering from
poverty"
What makes provisions SO low?"
The splendid crops made on this side.
The fact is, the United States having no
large army to take away the laboring
men, is making more provisions than the
whole world can eat. We are putting
wheat in Liverpool at 81 .OS, and pork in
Dublin and Glasgow, clcarsidcs, dry
satcd, for SIC. Now, how can the Eng
lish farmers stand this? He pays rental
on land worth 5000 to $500 an acre. The
lowest farm lands rent for $40 m acre
per annun. The average yield of wheat
is thirteen bushels to the acre, worth
say $l3. Now, how can that farmer pay
his rent? Then they used to sell their
pork for ljc. per pound and now can
they sell it ut SIC. aud livc?"
Then cheap American provisions are
running the English farmcrs?"
Yes. They are hucking their $500
land against our $40 land, and the result
is the $500 land is tumbling. The shrink
age is awful already. They are just going
through what we have gone through, or
rather they are fixed as we would be fixed
it some great country like China should
ship wheat to Chicago and sell it for SOC.
per bushel and fill up Cincinnati with
pork at $3 barrel. Where would our
farmers dc then? They would be ruined,
and our land values would shrink half
within year, and another crash like
that in England would be upon u.s."
What remedy DO they propose for the
hard timcs?'
They have no remedy. They nrc be.
wildercd and discouraged. 4 member Of
Parliament told me that he wns thinking
OF advocating an import duty on corn,
pork and wheat, and thus put wheat ND
to 50 and pork up to $40. But this would
be only enacting the odious corn laws
again. told this member if they should
put an import duty on wheat and pork,
the wages of laboring men would have
to be advanced, and then our American
manufacturers would have the advantage.
See l said, we are already sending cot
ton cloth, cotton thread, and steel goods
and cutlery 10 England"
"What do you think will be the end of
the hard times in Englnnd::"
'They will end in n dreadful dcprecia.
ton OF req! estate, the stoppage OF the
manufactoTics, general poverty, mob vic
cnce, LABOR Instructions, general
smash-up of business and society. If
had land in England to-day, l would sell
it any price"
Have We got through shrinking in
America ?"
No. That is, we have and we haven't
Land cast of Iowa must shrink still more
in value. Two ten for live hogs and
twenty cents for corn doesn't mean $lOC
farm lands. II means 800 farm lands
Our dear lands must shrink more yet
while our cheap lands have struck bot,
tom. Corn, pork and wheat are the price
of lands
"How did you find things in Ger
manyY
Germany is badly OF too. Her peo
pie are running away to keep out of ths
array. They come to England slowed il
the holds Of vessels, hoping to get from
there To America. The poor people il
Germany and England arc all looking
toward America. Emigration will bt
immense next year. Every man wht
can pay lis passage or stcal it will G,
away from Europe, cursed by its biz
! armies and bnrdcnsomc taxes. The fac
is" said Mr.. Armour, "rcal estate il
England, Ireland and Scotland has go
to shrink 100 per cent within a year ant
4 half or the business interest of tn,
United Kingdom have got to go UP il
one mighty crash"