The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1880-01-16

Nun uHu hufuMtDS |OT nc IOOTs-
dnnOydnces TO the London Press
Proposal 10 STOP The FYo,c Of Gold
10 america.
LONDON, Eng, Dec. so, 1870.
The winter season in capital where,
for something like three months in the
year, hight begins at four in the after
noon, and lasts until nearly eight the
uext morning, ought TO have as much
as possible done towards enlivening It
and London has, of late years, witness
ed many pruisewUrlhy efforts III this I'LL
rection. Foreigners have long wondc-
ed Why, when in every other countr,
the season for town gaeties in The win
ter, the English alone, with insual
perversity, regard the summer as the
filtest period for festivities. E, cry
uie-Ur, at least, every one in England
understands how it happens that those
of our counlrymen and cUuitrywomen
who, OF pleasure, make brs'ness, pass
winter in the country, and The summer
in London. 1t would be mistake,
however, to suppose that any number
of the great leisure class has the sam,
tastes. There must be number oi
men, and II still greater number of wo.
men, for whom field sports possess blu
moderate attractions, aud who, during
the dull winter months, feel much mO,
at home in the capital than IN the coun-
Try. Many lady whose husband
hunts or shoots, or, by II not very usua,
combustion, does both, must be be
much bored, in her enforced solitude.
as was the queen in Rug Bias, witt.
| -. l.; L., Ian. h....
sent her, from time TO time, on III,
stale OF the weather, and the condition
Of game. Formerly u seiectiuii.
once Tor all, had t, be made at the be-
ginning OF autumn, as to whether til,
autumn and winter months should b,
passed in London or in the country
Now, however, improved communica-
lions render it possible and easy L,
spend part of the cold season in town,
aud part cut of town, aud those VIII,
t., main in the metropolis are 50 liberal
~ provided for III The way of entertain
ments OF all kinds, that London, be
-ides being very tolerable place OF rel
uge for those who cannot endure couh'
Try lie il winter, is fast becoming al
attractive winter city. For some YEAR,
past the winter has been the great sea
son in London for entering upon new
theatrical enterprises, and for produt-
my new plays. But OH the serious sid,
OF London lie, the present intense All,
premature cold is adding another to til,
many burdens which are already weigh
my heavily Oh this country. After b
summer which will be long notorious
for its immunity from sun and its ex-
cess of rain; when wheat already scan-
", spruuted as it stood in the fields
when weeds grew 50 rank among thy
oats that many farmers did not take tlA
trouble toihrash them out, but cut then
up into food for the cattle, there non
comes this iron frost ,and the land is like
rock, utterly preventing the sowing Vi
he wheat for the ensuing year. 1t lie
partly The farmers fault, for we hav,
had six weeks continued fine weather
almost without drop of rain, during
which they had ample time to clear til,
land and get the wheat IN. But, d
course, the larger number having clear
ed their land, thought that the fin'
weather would last foreve', and tina
they could wait for little rain ant
get il in heavy" Poor men! the,
nave missed their chance, and now
nothing but diamond drill would pen
ctraIe The ground, and the frost is ap
paremily well set in, and likely to las
ill spring. 1t is all i'll wind that blow
nobody any good. One end of the com
nerciai seesaw rises OH your side of thu
Atlantic as the other falls here. You
Urcadsiuffs will fad ready marke
ami, in addition, fancy that these de
pressiuns in trade and agriculture will
induce many men to try their Fortunes
in other lands, and naturally due pro
portion will seek America, and afiort
Won fresh assistance in The shape of la
Dor.
The London papers seem to be no
only astohished, but a little alarmed a
the extraordinary outflow Of specie t.
America, amounting, since the LIST o
August last, to about $4,000 600, ant
suggests that the Bank of England
should raise the rate of discount. i'll or
der to stop the drain on its vaults. |
is not seen how such arbitrary actor
ON the part of the Bank could have an,
considerable effect in diminishing tn,
depletion complained of. WhereveI
The balance is due, there the none,
must go, as air rushes in to fill vacu
um. All balances Of trade must ulli
uiutely be paid in specie, promisorN
notes only delay the pay ment and thu
tine bill expdient affords but tempo
rary relief, like pouring warm watei
INTO ones boots on cold day, to keel
The feet from freezing. The Bank o
England, although the most powerful
financial institution in the world, cal
afford no effective buiwork against The
lncxorable laws of trade. The "Olt
Lady of Threadneedle Street." in a.
l tempting TO resist the tidal wave o
balances, by raising the rate of interest
would be as impotent as that other olt
lady with her broom, trying to SWEEP
back The Using tide OF the ocean. The
great fact, phenomenon we may call IL
" hicl England and all the rest of tn,
world must recognize, is simply this
The United States has suddenly become
u creditor nation, by tho excess of hel
exports over her imports, and, instead
Ut sending ship-loads of gold to Europe
to pay trade balances aud interest on
oans, the current now flows in the
other direction. In other words, the
golden tide, instead of flowing out, il
lowing in, and no legislative action OIL
the part oil financial institutions, or even
II governments, eau change the current
AS naturally as water runs down hill,
money flows through legitimate chan
nels 10 liquidate the balance of trade
between Lations, as well as individu-
Ills. If the commerce of the whole
world were as free as the winds and
the waters, instead of being damned
and dyked by the artificial locks and
limits of international tariffs, the bal.
ance of trade would afford Legitimate
and truthful indications of the aggre-
gate industries OF the world, represent
ing the natural and honest condition ot
ali civilized counties. ALPHA.