The daily gazette., 1879-08-09

cd; and ~ orders poured In, and the
emDlOy6rB began to be busy, the work
people would demand higher wages. In
many cases the, competition of employ
erS would make them concede the de-
mand; In other cases there would he a
strike. In either event prices would go
up. Thus necessarily American manu-
factured goods would become dearer
than British, in spite of distance and
prot ective tariffs. And then an active
demand for British manufactures would
arise. This is the course events have
been taking. For nearly year we have
had evidences of Improvements in the
United States themselves. or late, the
import Of British goods has increased
Some months ago 1t was announced that
Mr.. Vanderbilt found it more sconomi-
cal to buy steel rails 10 England than at
home, and the other railway magnates
have followed the example. Nor are the
railway kings singular In this. The
Statist, analy yzing the board of Trade re-
turns for June, extracted the principal
articles exported to the United States,
and shot owei that there had been steady
increase in them since New Years Day
For June alone the increase, compared
with the previous June, was 48 per cent.
We find the increase both for the
month and the six months in cottoc, !,
linen, jute, and wOollen manufactures,
ip pig-irOn, and machinery; the very ar
tic 'es, that is, in which the decrease in
previous years was most marked. Thus
II American prosperity goes on growing,
We may expect to see the exports to the
United States growing with it, and in
fusing life into British trade and indus
try. . .'f
So far as one can judge, the improve
ment in the United States is real. 1t Is
based, as wo have just seen, on an extern
sion OF cultivation and an except Onally
good return for q succession Of years;
and, after all, an increase of the fruits
of the earth is the foundation Of all true
wealth. 1t must not BIZ concealed, how
ever, that there are causes for uneasiness.
The ret umpt on of specie payments, of
which Americans boast SO much, is In
reality an ibfiatiOn of the currency. The
greenbacks remain in circulation, and
10 these has been added mass Of gold
and silver. This has fostered speculation
which BY and by may be productive of
embarrassment. The situation is, there
fore, not without Its dangers. But, on
the other hand, the persistent bad wealth
er, which Is so disastrous to Europe, will
pour new wealth into the United States.
According to the last report of the Ag-
ricultural Bureau the acreage under
gram IL larger man 6it mas ever before
been, and although at the end of June
the condition was not as favorable as
twelve months ago, the deterioration
was not considerable, and there was
abundance of time for improvement.
1t is enough, however, If there is no
serious widespread damage. 1t is unfor-
tunately only too certain now that the
demand for American produce through
out Western Europe willl be enormous.
lis probable, therefore, that the Ameri-
cans will dispose of their vast. food sup
Plies at enhanced prices, and thus that
the year will for them be an exception
ally prosperous one. II it is, we may
expect large increase of our exports to
the United States. OF course we do not
hold out this prospect a. compensation
for the bad harvest we arc likely to have
at home. Agriculture is still the great
est of British industries ;and an Increased
demand for some of our manufacture,
would but Ill make up for its continued
depression. Still, IL we are to suffer
depression, 1t is something that we
hould have . reasonable probability OF
that increased demand.