, 1879-05-03


that metal by Germany. That extraordinsr
disuse Of silver and consequent demand TO
gold to take its place forced France to discon
J tinue coming, and the discovery that tn
United States had also demonetized silve
forced the price down. The exhaustion o
the German stock is all that is needed to re-
store the demand for and the price Of silver
| =-=-=
ENGLISH AND AMERICAN COMMERCE..
4 There Is undoubtedly growing sentiment
in England that D1sRAE11's foreign and home
policy is in q large measure responsible fo'
the general depression in English trade and
consequent suffering among the people. THE
Republican party in this country lost more
votes on account of tho panic and the long
period of hard times that followed than il
ever lost by reason Of any political act OF its
own. So the Ministerial party in England
can scarcely escape similar responsibility
for the hard times, though it may be unfair
ly imposed by the people. This V1ew of the
case has undoubtedly gained new force from
ths recent speech delivered by Mr. BRIGHT
before the Liberal Association of Birming-
ham. The character Of the address may be
gathered from the following extract:
j "You will observe that I have not assatled the
] Government. T. leave them to tho retribution
which awaits them. Loud cheers.l They have
played, in my view, falsely with both Parliament
and with the country. (Hea1, hear.1 They have
| wasted, and are now wasting the blood and the
treasure OF our people. IlIear, hear They lave
tarnished the mild reign OF the Queen-[Hear,
hearI-bY needless war and sla lighter on two con-
| ttnents, and by the menace Of needless war In
| Europe. They hare suied the fair name Of En-
| gland by subjcctlug the population Of province
| which had been freed by Russia through war and
treaty by handing 1t to the cruel and the odi-
ous Government OF the Turk. Hear, hear. And
| beyond this they have shown, in my view, during
an Interval Of five years through which they have
| been in possession Of office and Of power, that
they are imbecile at home and turbulent and wick
cd abroad. lGreat cheerfng.] 1Ray thie, that
leave them to the judgment Of the Constituencies
Of the United Kingdom, to which they must speed
lily appeal, md to the heavy condemnation which
impartial history will pronounce upon them"
In the course Of Ills speech, which was oil
as aggressive and vigorous as the above ex-
tract. MIR. BR1aHT did not omit making q
subtle connection between the policy OF the
Government and the falling off in trade.
He bespoke especially the cultivation of
closer friendship with Russia as the best
means for stimulating the interchange Of
products. Russia exports corn, hides, fax,
hemp, and many other commodities Of which
England is necessarily q purchaser, and En- !
gland would purchase still more largely Of
Russia if the British manufacturers and
merchants could sell more largely to Russia.
This is the commercial bearing which the
foreign policy Of suspicion and distrust in
dealing with Russia e1erts, and the warlike
policy in India and Africa is charged with
similarly depressing influence on British
commerce.
While there is no doubt that the Govern |
ment policy Of Great Britain of lutte years
has not been calculated to stimulate aud de- !
velop the trade Of the country, the English /
are beginning to realize that American COM |
petition has more to do with the prevailing
depression than has any policy on the part of |
the Government. The London Globe, in !
recent article on this subject, fully admits
that British manufacturers are steadily losing !
ground where they formerly enjoyed o mon
opoly, and attributes the change to the supe-
riority Of American goods and Of American
management. "The Americans" says the
Globe, "bring to commerce, generally, the
same method ard system that they have
brought to meteorology, and with the same
certainty Of result" This is high praise. The
same journal also contributes some informa-
ton which, it correct, will give the American
people better appreciation of our Consulate
system than has been generally entertained
1t is to this system, We are told, that the
Americans ara indebted foraccurate informa-
ton as to tbs condition and demands of for
eign markets. knowledge which is Ger
taln1y of wonderful aid in guiding the ex-
tent and character of production. =.
American competition with English trade
is reaching out into fields where it would once
have been regarded as simply impossible.
'' Carrying Goals to Newcastle" was former
y the most vivid expression of work of
But the phrase threatens
% loso its significance. Not that American
:oal is directly imported into England as
yet, but it is finding markets where English
'oal alone was sold formerly. This is par-
icularly true Of the Mediterranean coun-
ince the first cargo Of American coal was =.
hipped to the Mediterranean as IN expert =
nent. But tho excellent quality and low e
'rice soon commended it to general use, and ,
low cargoes Of coal are frequently consigned c
o Marseilles, Trieste, Cadiz, Leghorn, Alex J
ndria, and other Mediterranean ports. In t
be meantime the British coaI-felds arc los
ng their advantages by long strikes and lock-
uts. Reflection shows that it is rather
lmerican: competition than Government pol
y which accounts in the main for the DE- II
ression Of English trade. Il
Crime often apparently assumes the form OF q
D epidemic One suicide is almost certain tn G
c followed By another, and one murder breeds "
mother. 4 railroad accident is sure tn be the h
'rcrunner OF an indefinite series, and bank b
'b6ery in one city sets all the burglars at work "
Others. Dr.. HAMMOND SAYS that man In Il