The Cheyenne daily leader. [volume] (Cheyenne, Wyo.) 1870-1884, 1879-04-24

ment may be constitutionally employed.
England's soul is her purse; her trades
men and manufacturers fill 1t. When
they are no longer able to do so-and
extraordinary sums of money are re-
quired-the government feels impelled
to move. Hence the frequent speeches
on the question of the hour in parlia-
ment. Lord Beaconsield recently
spoke and endeavored to simplify the
causes of the depression to the under
standing of all men. He gave among
others, the following reasons:
First, the farmers are distressed be-
cause there have been four bad har-
vests and prodigious imports of foreign
food; second, the manufacturers and
traders are distressed because, while
they have produced as many commodi-
ties as before, they have been able to
sell them for only half the money; and
third, the fundamental and moving
cause of all this mischief is that gold is
every day ~appreciating in value, and as
it appreciates in value the lower be-
come the prices. This is the third
cause which most earnestly requires
thO atAoho vi yout a.
which may lead to consequences which
may be of a very serious character.
As to the appreciation Of gold, the
premier said it might be advisable to
inquire into the auctuation in the
prices of this precious metal and the
effect of the changes on the country.
England made gold more valuable by
demonetising silver, she demonetised
silver in India and the loss from this
cause alone mounts frightfully into
millions Of pounds. Now she finds that
a double standard is preferable, as be-
ing safer. Her boards of trade were
first to urge this point and it is safe to
say that many months will not elapse
before silver will be returned to its le-
climate duty as the currency of the
country. England gave the cold
shoulder to the monetary conference
held under the auspices of the United
States. She now discovers that anoth-
or such conference is necessary to the
end that the disastrous disturbances to
trade by reason Of the fluctuation of
gold may be prevented. 1t is well that
her highest political authority publicly
confesses error and promises official
reparation.
There is no doubt that the immense
importations of food into England have
also caused some depression. 1t is true
that the farms of England cannot sup
ply all the mouths of England, but it is
also true that much more than the diff
ference is imported. Consequently the
home products must yield to the cheap
er food from abroad. For this reason
farming is made Improbable and thous-
ands of acres and thousands of laborers
are forced into idleness to the injury of
the country. The cattle breeders of
England, too, find their business dis
turbed, and its drift changed. They
cannot successfully compete in the
fresh meat market, SO they must con-
line themselves t. the production of a
high grade Of cattle for export. AS
evidence that this business is not rs
profitable as they could wish, we cite
their jealous opposition to American
cattle which eliminated in the weak.
minded edicts of the privy council.
AS to manufactures, Eugland's mar
kets are being gradually limited in
number. The United States were once
her best, but, for the most part, moth
ing Of Importance is now imported
here. On the contrary, the United
States send to England a thousand
articles in the way of hardware, cut
lery, machinery, agricultural imple-
ments, iron and steel. Australia is now
blessed with manufacturing establish
ments, and England loses these. Can
ada is likewise spreading in this respect
and is about protecting its interests by
a tariff law. In other parts Of the
world the United States, France, Ger
many and Belgium compete successful
ly with England. No wonder, then,
that the manufacturers Of the latter
country are languishing. She has the
capacity for supplying almost half OF
the world. When she is prevented
from doing SO by reason of cheaper pro-
auctions from other countries, it is OBJ
vious that she must either manufacture
more cheaply, or cut off her capacity to
the ability of her markets to consume.
The former is being tried, after a Sc
ries of strikes, and still the remedy is
not reached. Lower and yet lower
must be placed the price of goods.
Ruination seems rampant. No better
prospect is afforded in the shutting up
of snperfluous mills and factories.
There is one important lesson taught
the world by the United States, but
never learned by Eng land, which offers
a mea of recovery: Machinery per-
forms work better and cheaper than
hand labor, wherever it can be employ
ed. There is an uniformity and beauty
of finish about machine-made goods
which cannot be excelled by hand.
Then in the progress of manufacturing
articles machinery plays an invaluable
part, enabling manufacturers to turn
out large quantities at small expense.
For this reaso only can the United
States meet England In most markets
of the world and vie with her in Shelf
field, Manchester and Birmingham. BY