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


-n--
THE BUSINESS FUTURE.
A Forebodiug OF General Disaster.
correspondent Of the Cincinnati
En4"irer gives the following interview
with Alr. Armcnr of Armour, Pianking-
ton d Co., the largest pork aud 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.
! hat is the matter over there 2" |
asked.
! "a general financial ruin starcs them
! i'll the face all over England, Ireland and
Scotland" said Mr. Armour Banks
and individuals are failing everywhere.
The newspapers 10 not hall tell the story.
The English people nc 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 fnrmcr is poor"
rents ?'
Because their crops do not pay
Prices for farm products are so low that
the farmer only makes enough to live on
The BOG. 600 land owners are out in the
cold. They cannot collect their rents
nor sell their land, and many seemingly
rich families are actually suffering from
poverty"
"What makes provisions so low?"
"Ihe splendid crops made on this side.
The fact is, the United States having no
large prmy 10 take away the laboring
men, is making more provisions than the
whole world can eat. We are putting
wheat iii Liverpool at 81 .0S, and pork in
Dublin and Glasgow, ccarsi,lcs, dry
salted, for SIC. Now, how can the Eng
lish farmers stand this? He pays rental
on land worth 5000 to $500 an aero. The
lowest farm lands rent for $40 M acre
per annum. The average Weld of wheat
is thirteen bushels to the acre, worth
say $l3. Now, how can that farmer pay
his rent? Then they use,. to sell their
pork for 15c. per pound; and now can
they sell it ut SIC. and livc?"
Then cheap American provisions are
running the English farmers 2"
Yes. They arc bucking their $500
land against our $40 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 no We would be fixed
if some great country like China should
ship wheat to Chicago and sell it for SOC.
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 hall
within year, and another crash like
that in England would be upon U.S."
What remedy do they propose for the
hard times?'
They have no remedy They are be-
wildered and discouraged. A member oil
Parliament told me that he was thinking
Of advocating an import duty on corn
pork and wheat, and thus put wheat IN
to 50 and pork up to SO. But this would
be only enacting the odious corn laws
again. ! told this member if they should
put m 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,
See said, I'VE are already sending cot
ton cloth, cotton thread, and steel goods
and cutlery to England"
"What do you think will 5e the end OF
the hard times in England:" >"
"They will end in a dreadful deprecia-
ton OF real estate, the stoppage of the
manufactures, general poverty, mob vio-
lcnce, labor instructions, a general
smash-up Of business and society. If
ilad land in England Today, would sci!
it any price,
Have we got through shrinking in
America ?"
NO. That is, we have nj we haven't
Land cast of Iowa must shrink still more
in value. Two ten for live hogs and
twenty cents for corn doesn't mean $1O(
farm lands. 1t means 800 farm lands
Our dear lands must shrink more vet
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 .h,
army. They come to England slowed il
the holds of vessels, hoping to get from
there to America. The poor people il
Germany and England are all looking
toward America. Emigration will b
immense next year. Every man VIII,
can pay his passage or steal it will &,
away from Europe, cursed by its bi!
armies and Gurdcnsotnc taxes. The fac
ia" said Mr.. Armour, "rcal estate il
England, Ireland and Scotland has go
to shrink 100 per cent within year ant
n half or the business interest of tn
United Kingdom have got to 60 up il
one mighty crash"