, 1881-08-28

NCHI4 NOulA ltsuIt LII IVA.
panic, almost anarchy. The Ensl'sll
people are still deplorably Ignorant
of American affairs, and for time thcse
lying dispatches received general credence.
1t was said by the correspondents referred TO
that in case lie became President Gen. Ar
thurs great ambition would beta brlng aoou1
Il rupture with England, and this rldlcnlons
canard, intended to affect English con1ldehce
i'll American securities, was accepted as a1ue'
The public mind, however. has oeen us
abused of these notions (which actually IN
tluenced persons closely connected WILL lne
G0yernment}, and
GEN. A1:TuCE's TEuE CHARACTER IS NJ"
UNDERSTOOD.
It is felt that If he were called to the 0iilce
lie would show himself worthy of it and cut
himself clear of those malign influences
Which forced him into dubious position At
ALBANY, Regret would be felt, OF
course, at the cause which made
him President, but for him personally Inc
warnest good wishes and respect would Do
entertained. There is no agitation i'll the
money market in consequence Of the Presl-
dents desperate condition other than
that created BY the stir in Wall
street, and If the worst comes to
the worst with Gen. Garfield, the public,
while mourning his loss and his tragic TAX
ing off, will receive the news OF Gen.
Arthur's incumbency without any loss OF
confidence III the stability of American lnsti-
tutions and without fear Of any untoward
complications, international or otherwise.
THE CROPS.
4 reporter has Just returned from weeks
tourney through the midland counties, where
the general state Of affairs is much worse
than can be gathered from the London
papers. TRADE everywhere is much de-
pressed, and the incess1nt storms
have apparently ruined the harvest.
III many parts the crops lave
been lying upon the ground for fortnight,
torrents of rain forbiddinG all attempts to
house thenl Where the wheat has not
been cut it has been leveled and
battered by the ain and hail into
wet straw. 3lildew has set i'll every
where, and the cut grain is either blackened
or sprouting: Thousands Of farmers will be
ruined, and many a landlord will fall with
them. There has not boen really good
old-fasllioned harvest in England
since 1854, tho year of the Russian
war. The crops i'll 1851, 1855, 1sG5,
1854. 1865, 1874, and 1873 were average ones
In 1855, 1885, 1859, 1851, 1865, 1sjs, 1s''s, 1870,
1871, 1s72. 1876, 1871, and 1850 tho crops were
much below the average. In 1860, 1S63, 1et'6,
1878, and 1875 they were very deficient Tile
year 1S.9waS
TIE WORST HARVEST
ever known, and ISL threatens to cap the
long list ot disasters and literally to put Ill
end to wlleat-growing i'll England. 1 have
told your readers i'll these letters from
time to time Of the extraordinary de-
probation in the value of land,
and it is learned from solicitors
who have been trying i'll vain
for two years past to dispose Of estates
which ten years ago could not have been
bought for love or money that the price
has fallen another per cent during
the last fortnight. III the good
old days the English Squire had
as happy i lot as is given
to morta1s. Nowadays Nature has cons pired
against him, and the Radicals threaten to
complete what little remains to Him from
bad seasons and American competition. On
the average the price Of land has fallen about
rs per cent since 1878. LII many districts
more there has been fall of IS aud 10 per
cent.
RENTS HAVE COME DOWN
with Il run, and yet thousands OF farms are
living idle. The very best farming districts,
tho southeastern counties, the East Riding
of Yorkshire, Devon, Lincoln, Salop, WiltZ,
Oxford, Derby, and Nottingham suffer
perhaps more than the poorer ones,
where the farmer sticks chiefly to grazing.
Even the thrifty Scotch farmer. whose supe-
rior system of agriculture has saved him
during many bad season. is beginning to
despair. The most favorable change III the
weather cannot now save more than
half crop. This disaster is already
affecting our markets, aud, coupled with
money dear and dcpress tile price Of most
home securities. The public would natur-
ally turn ut such time to Ameri-
can securities but for. the disuuiet-
ing r1,mors cabled frum New York.
You may also lonk for a large flow
of emigration from tile three Kingdoms this
winter and next spring. The younger farlil-
ers are tired Of hoping against hope, and
have made up their minds to throw up their
tenancies and seek Il livelihood elsewhere.
1t is believed that
THE hank 1:ATf: OF DISCOUNT WILL BE FC1,-
THEIR RAISED
next week, and that it may even go as high
as per cent This will add greatly to the
difficulties which now encompass traders
with limited capital, and must also exercise
great influence on politics, for people who
anticipated Il revival Of prosperity
consequent to Mr.. Gladstone's return
to power are being bitterly disappointed.
This has encouraged the Tories to contest
the vacant seats in North Durham and North
Lincolnshire, but the Liberals profess to feel
no apprelensions as to the result in either
riding. In North Durham Sir George
Elliott once working miner, now
millionaire colliery proprietor, will
make strong run on the Conservative ticket.
THE miners aud iron sneltcrs Of course, feel
the effects Of the depression III 1nannfactur-
districts, aud 4 north country miner is not
apt to pay much attention to political
economy when he finds himself
WORKING SHORT TIME
and sees a candidate in the field who prol1l-
ises abundant work through the magic
agency of retaliatory duties. LII North Lin
colnshire, that county OF fens, which per-
haps more than any other in the fifty
two has suffered from the asricult-
nral depression, Sir James Lowther
is talking in favor Of protection
against American wheat and cattle. It WIS