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


A Forcbodiug of General Disaster.
A correspondent of the Cincinnati
Enquirer gives the following interview
with Mr.. Armour, of Armour, Planking.
ton & Co, the largest nork and provision
dealers in the United States. Mr.. AR
mour 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?"
asked.
"a general financial ruin starcs them
in the face all over England, Ireland and
Scotland" said Mr.. Armour. Blanks
and individuals are failing everywhere.
The newspapers do not hall tell the story.
The English people arc in dreadful
condition. Manufacturers are running
behind, the tenants cannot pay their
rents, real estate has shrunk in value and
cannot be sold at any price, the mechanic
is idle, and the farmer is poor"
"Why can't the farmers pay their
rents?"
Because their crops do not pay
Prices for farm products are so low that
the farmer only makes enough to live on.
The 100000 land owners are out in the
cold. They caunot collect their rents
nor sell their land, and many seemingly
rich families arc actually suffering from
poverty"
"lNhat 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 Sl.CS, and pork in
Dublin and Glasgow, clearsidcs, dry
salted, 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 an acre
per annum. The average yield of wheat
is thirteen bushels to the acre. worth
say Sl3. Now, how can that farmer pay
his rent? Then they used to sell their
pork for 15c. per pound; and now can
they sell it at 5Ac. and livc?"
"Then cheap American provisions are
running the English flrmers?"
"Yes. They are bucking thci' 5000
land against our $50 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
if some great country like China should
ship wheat to Chicago and sell it for 30c.
per bushel and fill up Cincinnati with
pork at So barrel. Where would our
farmers be then? They would be ruined,
and our land values would shrink half
within 4 year, and another crash like
that in England would be apon us"
"What remedy do they propose for the
hard times?'
"Thcy have no remedy. They are be-
wildered and discouraged. a member of
Parliament told me that he was thinking
of advocating an import duty on corn,
pork and wheat, and thus put wheat up
to 50 and pork up to $40. But this would
be only cnacting the odious corn laws
again. l 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.
'Sec,' / said, we are already sending cot
ton cloth, cotton thread, and steel goods
and cutlery to England
"What do you think will be the end of
the hard times in England"
"They will end in dreadful deprecia-
ton OF real estate, the stoppage of the
manufactures, general poverty, mob vic.
lcnce, labor instructions, general
smash-up of business and society. If l
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 east of Iowa must shrink still more
in value. Two ten for live hogs and
twenty cents for corn doesn't mean 500
farm lands. 1t 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"
GLOW did you find things in Ger
many
Germany is badly OF too. Her peo-
pie are running away to keep out of the
arn,y. They come to England slowed in
the holds of vessels, hoping to get from
there to America. The poor people in
Germany and England are all looking
toward America. Emigration will be
immense next year. Every man who
can pay his passage or steal it will 60
away from Europe, cursed by its big
armies and burdcnsome taxes. The fact
is" said Mr.. Armour, "rcal estate in
England, Ireland and Scotland has got
to shrink 100 per cent within year and
y half or the business interest Of the
United Kingdom have got to 60 up in
one mighty crash"