, 1879-04-24
THE WORLDS TRADE.
An Examination into tho Causes of De:
prossiou- and Figures,
Causes and Effects in Prices and Wages
Crises md Krachs.
Germany, Austria, France, En-
gland, and the United
States,


9taeeS'
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cs+rtssaedtnct Stsc Fare Rt~ad.
e1NNfHaHAM. April IN. MAURICE l''ock, the
eminent French political economist. 'lHs iately
published In the 1Ftuae ds Df'ar -Hotdts On inter-
csttnE ssuay OF Tie economical csts's no" psc'
valllng throuEhout tie World' us "1de khowt'
e'lro enables him to take general VIC" O. tac
ta1ses OF tho unexan'plcd duration ol t"'s eF'ss'
aid to foreshattow. I'cr'saps' some o. 'e RESULTS
:! summary ot what nc saya VIII po Fes" WIKI
Interest md profit In America.
Tile present unpsceedehtea per'oo ot uepres-
sion In oil business Began IN vienna on t''e sIh
OF MHy. 1873, tc" da9s pelore 1'e open'hE Oh
The Cn1TefsaE fxnos'',o''' W "'as Is ""o"u :,
tl,cre md throughout Germany as lt!c "kfheh''
After the Wal. OF 1866, whrn Austria VIVA freed
from tic Venctian provinces twllic., lad alwnya
hccn burden to tlIc Stato) md Ind trado hor
pence With thc HunGnrlans, with tl'c Intention
Of repairing The dlsastcr causcd Dy war she turn
ell hor attention to developing her material
interests, SO lfttle It was found Ind bcctt
done. and 50 much could he dono IN tic "as Of
railways, mines, manufactures a'Ml banks.
1wenkY-s1x joint stock companies with TIC mp
uroya1 OF the Government, wilr, Is NECESSARY in
A,,stra; and which, at t!,o sau,o Time, gives In
..,..1 ~. .r,. r., ..s,ra T., thn ,o,n,,r,ce
p"ohe oi',io" ~ NV s.rs .m
were founded III lsGI 'I'h thlfty-two IN ies' ile
rroegcss of speculation Is shown by t!,r fact tllat
~ c''a aI"''S9 "e'c 49,, su :" 'o 1a
~. ,o,, ~ ~, ,sro ,raxo TX. IN ts-,
lcse, oett't tuls !" to'l taeEe "es1 ''' ~ lo.~'
3iG, aud In the lallr months o[ lS1'-hetore INC
49,, ,en. s.a,oa,o a,,, na9 ,r.ra
aaa.,,.a,,. =, a.tol c,ni,., ,,r,,,nt of s1cIl.
uu'nlt''s a "h4' t.,'' sae.". W., "'.'
rnrare,,,c,,ts to tho amount of s1.Cs0, ,ooo, 900,
~ r.,,".., .o,o ~ II, .o,nr,noa xrre ,,nanc,o1
" eou'no NV no'". -. ~ wv r.,s" s,,'" ,"..
~ sonha' ont io' soon in'eu "',' o.'!e's HAVE
never yet paid any dividend: IN thIs way
tnrec amount Of capital was takco from its or1l.
,,,rv rh,nnoI IN irJu.trta1 rn,pmcrce uutl at,I1-
.',...N -
euleufe' ..,,, ,.,,,,. r,.c,,
In Germany sim!far increase OF speculation
i had hcnn going on. Ono Of the results of the
revolution of 1919 had been too FREQ industry Il,
l's,,ssia from, supcraunnated laus which shack
1cd #. an,t manufactures Ind rrpdualr in-
-'s, - 1cr, n,rI,,s .o .n, .a,,,.r ,,o,,,,.
os tic Gesmans mulch monoy had been laid
aside. MAnv cn.Rrunts Ind gone to America
u,pt through their communications viii, their
Joni]Irs considerable sympathy In thu Uuitod
S,neFean lnan. werc niocsd II liz marked dur
H., i,,s ap ~ sercs.ion tbr r. crmnns rca1liIy
;m1:oets, t s.e WI !, .i'"n Thcsn warn snmrtimrs
'eIs sn IN, Tint tl,e omo,lnt of money ea!ned
1otio, an .9ortch rcscnsi n rerr ,i,tf nr,nt
MY. .,. sn,,, sf",' ,,or rhcn Il scsn"
~ thnmCh fionds nf ToiI wrre, nnuri,,. into fln.
"o,,'trn f,nue nu Franz % suernsa,,,m' hnwnrrr
sn,a -. .t,nnnI ,,t IT, ,a,,oi ro,n,nitnnt ,iiahon
.tv .a H., eo niuis tritc1, asosc r., liz Urant
~ wv nen,eei,a e,,n ~ rnS1w,usss,,t, wnrn
tt,.I1 ~ - ',,'rt, f,r IN ,,;,r,o.n ~ },airx
tounusu m9' ~ ~ nn,,a ae ,nn,,;nnfn,im w.