Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1880-01-14
From Our Regular Correspondent
Our European Letter.
LONDON. Enc. Dec. 80. Is

The winter season in capital where.
for something like three months in the
year, night begins at in the afternoon
and lasts until nearly the next morning
ought TO have as much as possible done
towards enlivening it; and London has. OF
late years, witnessed many praisworthy
efforts in this direction. Foreigners have
long wondered why, when in every other
country the season for town gaieties is the
winter, the English alone, with insulaI
perversity, regard the summer rs the fit.
test period for festivities. Every one or
at least, every one in England-under.
stands, how it happens that those of OUT
eountrymcn and countrywomen who. Of
pleasure make a business, pass winter in
the country and the summer in London
1t would be II mistake, however, to sup
pose that any number of the great leisure
class has the same tastes. There must be
a number of men, and still greater mum.
her of women, for whom field sports pos
sess but moderate attractions, and who,
during the dull winter months, feel much
more ut home in the capital than in the
country. Many n lady, whose husband
hunts or shoots, or, by not very usual
combination, does both, must be rs much
bored, in her enforced solitude, as was the
queen in Rug Bias, with the bulletins
which her royal husband sent her, from
time to time, on the state of the weather
and the condition of the game. Formerly
Il selection, once for all, had to be mule,
at the beginning of autumn, as to whaher
the autumn and winter months should be
passed in London or in the country. Now,
however improved communications rem
der it possible and easy to spend part of
the cold season in town, and part out of
town, and those who remain in the me.
ropolis are SO literally provided for in
the way of entertainments of all kinds,
that London, besides being very toera-
BILE place of refuge for those who c;unot
endure country life in winter, is fast be.
coming an attractive winter city. For
some years past the winter has beer the
great season in London for entering apon
new theatrical enterprises. and for pro-
ducing new plays. But on the serious
side of London life, the present intense
and premature cold is adding another to
the many burdens which are already
weighing heavily on this country. After
II summer which will be long notorious
for its immunity from sun and its excess
of rain; when wheat, already scanty,
sprouted as it stood in the fields; when
weeds grew so rank among the oats that
many farmers did not take the trouble to
lhresh them out, but cut them up into food
for the cattle, there now comes this iron
frost, and the land is like rock, utterly
preventing the sowing of the wheat for
the ensuing year 1t is partly the farmers
fault, for we have had six weeks contin.
ued fine weather, almost without drop Of
rain, during which they had ample time
to clear the land and get the wheat in
But, of course, the larger number, having
cleared their land, thought that the fine
weather would last forever, and that
they could wait for Il little rain and " get
it in heavy Poor men! they have missed
their chance, and now nothing but dia-
mond drill would penetrate the ground,
and the frost is apparently well set in and
likely to last till spring. 1t is an i'll wind
that blows nobody any good. One end
OF the commercial see saw rises on your
side of the Atlantic rs the other falls here.
Your breadstuffs will find a ready market,
and, in addition, l fancy that these depres-
sions in trade and agriculture will induce
many. many men to try their fortunes in
other lands, and naturally due proper
lion will seek America, and afford you
fresh assistance in the shape of labor.
The London papers seem to be not only
astonished, but II little alarmed ut the
extraordinary outflow of specie to Ameri-
ca, amounting, since the 1st of August
last, to about S70,000,000, and suggests
that the Bank of England should raise the
rate of discount, in order to stop the drain
on its vaults. 1t is not seen how such
arbitrary action on the part of the bank
could have any considerable effect in
diminishing the depletion complained of.
Wherever the balance is due, there the
money must go, as mir rushes in to fill Il
vacuum. All balance of trade must ulti-
mateIy be paid in specie, promisory notes
only delay the payment, and the time-bill
expedient affords but Il temporary relief,
like pouring warm water into ones boots
on cold day, to keep the feet from freez
ing. The Bank Of England, although the
most powerful financial institution in the
world, Can afford no effective bulwark
against the memorable laws of trade. The
''Old Lady of Threadneede Street." in
attempting TO resist the tidal wave of bal
ances, by raising the rate of interest,
| "ou'o w 10 I'LL potcub IS Llltl Otner ola
lady with her broom, trying to sweep back
the rising tide of the ocean. The great fact
phenomenon we may call it, which En-.
gland and all the rest OF the world must
recognize, is simply this: The United
States has suddenly become creditor
nation, by the excess of her exports over
imports and, instead of sending ship-loads
of gold to Europe to pay trade balances
and interest on loans, the current now
flows in the other direction. In Other
words, the golden tide, instead of flowing
out, is flowing in and no legislative actor
on the part of financial institutions, OIL
even Of governments, can change the
current. As naturally ms water runs dowr
hill, money flows through legitimate chan
nels to liquidate the balances of trade be
tween nations. rs well as individuals.
the commerce of the whole world were n.
free us the winds and tho waters, instcat
of bpinp dlmmpl and dpknI hy tho ort /;