The daily gazette. [volume] (Wilmington, Del.) 1874-1883, 1879-08-27
SECOND EDITION
OUR INTEREST IN GREAT BRI-
TAIN'S PROSPERITY.

EfOUS G1c kVOVtUcUCc CVHfWoss
when we read Of the distress prevail
Ing in Great Britain, the depression la
manufacturer, and the foods that have
destroyed the harvests, we are afraid
that there ID . scarce concealed feeling
In this country that IL good thing tor
10. The depression Of British manu-
factu os mean to certain extent the sue
ceu Of our own, and the failure Of the
cfops signifes that there will be n ger
Demand and higher prices for our wheat
and IN, Both OF these are true, but
IN the long run It 10 quite certsin that
tho prosp rity tina is founded on the
injury Of neighbor is not o benefit.
Great Britain has experienced this her
self; her era OF prosperity, which was
founded on the immense waste of
wealth snd labor In THIS country during
Ithe civil war, and in less degree due
NJ the war between Germany
France having resulted In q f"' and
lus 70 en- erprise and ..se stimu-
which has made ~ extravaganza.
I'll the mo- lie inevitable reaction
D. ,.e keenly felt and disastrous.
..iay be taken As an axiom Of political
ecOncmy that the mistortunes OF one
number Of the community Of civilized
nations, whether by war, famine, or pes
thence, are 4 misfOi tune 10 all in the
abstraction ftom 90 mach Of the worlds
wealth which they all share. 1t is best
for every nation that the rest OF the
world should be at peace and in pros
perity, and the temporary advantages
that may come from the extinction OF
rivalry in some branch Of industry, or
the extra demand caused by war or
failure Of crops, are as general thing
more than cOunterbalanced by the sub
seQuemt ceasing of the dema d, and the
Reorganization and depression which It
causes.
So much of the Oppression of British
manufactures as it is caused by the revi
val of our own and their establishment
On . competitive basis after the inf tied
period Of the war, |, change which Is
founded on sound principles, and is mere
y reduction Of the unnatural develop
ment In Gre 1t Britain, caused by our
mi.fortunes, and cannot properly be re-
gretted even by themselves, much l-ss by
u. But we certainly do not want to see
British manufactures crippled or de-
ottOyCu ~ loi ~ tnCi iCidttOiIo W AnI VI
binary markets of the Id go, for 1t
would mean the destruction Of so much
purchasing power from which We r. cei'e
the advantage. 1t is for our advant age
that Great Britain should grow richer
and more populous, and not poorer and
less in numbers, for the very palpable
reason that l: will consume so much tho
more Of our beef and wheat. Again, TAX
Ing the case of the failure of tie crops
during the present season. 1t will make
slight difference in the price and con-
siderable ia the demand for the agricul-
rural products in this cou tr nut it
may be doubted If that extra stimulus
d0es not have to be paid for in the rea =
ton OF Overproducton and cons, quent
depression In prices in season win n
European crops resume their normal
proper tons. We are now going on a,
II there was no possible limit of o, elpro-
duction in agriculture in the pr sent
state of the worlds markets. The d, =
preston In manufactures has not only
turned great numb.r to tilling the Ill,
but the enOrm JUS development of the
wheat fields Of the Northwest has been
made temporarily profitable by the extrs
demand In Europe. But thai demand
will soon be overpassed il the presen
enormous and rapid development, an,
while the increase Of the agriculture
product will be an undoub ed aldtio,
TO our wealth, we need not be surpI ise,
II there is temporary Reaction from
over-supply, and that Western farmers
may be burning their corn and turnini
their hogs into the wheat, as they hav,
done before. All progress and prCduc
ton must be G aduated TO the condilol
ofthe world and its demands, if it woul,
be healthy and sound, and it is very rare
ly that substantial growth is founded
upon the misfortuaes of another nation
and certainly not upon serious dimin
utirn Of the worlds wealth. 1t is a rea
misfortune to us as we'll as to Grea
Britain, not only that there is genera
depression in its IN ,nufictures but tia
there Is even temporary failure of il
crops.