The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1886-02-27
coNpENs D rMApe nlsr oRY.

Flun uAiiOuE ia u gland Tor Twenty YsRTs
what't The sister with FrOs rFsGe"
L0n,ioa Iron and Coal TrGdS Rscier,
In 1865 the American civil war ended,
and was immediately followed by a
forced activity Of trade; many ilint stock
companies were formed
In 1865 there Was an AustIo'Prussisn
war Of Blk weeks duJaiioa, v hiCh conSid'
erably affected the Continental trade,
There was a financial and CONNER.
cial panic, and among the failures
was tho celebrated firm Of OveEend, Cur
ney 4 Co. A good number Of firms col
lRpsed through overtrading,
In 1867 a bad harvest had something to
dowith dwindliug trade, but in 1868, with
one Of the best hRrYes's on record, stsg'
nation was as bad al ever.
In 1869 there was great extension Of
railways on tue Continent, and business
improved,
In 1910 and 1871 occurred the Franco.
Prussian war, which, when peace was con-
Cluded, was followed by one Of the most
remarkable blooms" on record, That led
to an extension Of our own capacity for
production, aud 10 q vast amount OF over
speculation, from which VIZ suffered for
years indeed, the North OF E1gland Iron
Manufacturers Association traces our
present depression to the events which
followed the war, Tor they say, In reply to
the Royal Commission, "the origin 0t the
depression from which we suffer, and
which is now at the lowest point rec ched,
seems TO be to some extent re9CtiOn from
the coal famine period Of 1924, and
which WIS perhaps due to the Initiation
consequent ON the Franco German war Ia
1870. Ihs amount OF capital then invested
was out Of all proportion to the subse.
quent requirements OF the trade, and the
demand has not vet Oyertaken the ca
pacity for supply"
In 1874 the boon" quickly subsided;'
and wsges Of wor&men, which bad gone
up by 'leaps and bounds" In the previous
three years, Toll of as rapidly, in Bpits OF
the strikes, which were now as unsiCCess-
ful az they had previously been successful
1870 and 1875 were marked by many
failures In the iron trade, and In 1871 when
the Russo.Turkish war commenced, trade
became more stagnant and the Collapses
Of manufacturers more numerous than
ever.
In 1878 fear OF our becoming involved
in war with Russia had much to do
with intensiiying the depression Of trade,
and there WIS quite restriction Of credit
In this country, This was the year In
which the Glasgow Bank failed.
In 1870 business was exceedingly de-
pressed for the first eight months, bntBud.
denly there fpranR up an unprecedented
demand for iron for the United States, Efd
prices again advanced by 'leaps and
bounds, though to nothing like the fig.
ures which prevailed In the year 1873.
In 1880 the American "boom" collapsed,
and our exports thithef began 10 fall oil.
Still, our trade went on increasing, money
was cheap, our harvest fair, and our colo
MES were better customers. This was
continued in 1881, when commenced the
remarkable increase Of activity In ship.
building, which continued over 1882 aud
1888. Never had our shipyards been so
busy. There was also In lSSl'R vaBt ex.
tension OF railways In tho United States,
which gave our rail mills plenty Of work
In 1882 trade generally was active, and
wages Of workmen went up; hut In 1883
business fell OF again, aud 1884 and 1889
have been sorry years, not 80 much be-
cause OF the decrease In the volume Of
our business as becauBeot It's Improbable
character. The harvests we're good in each
year, but political complications, andes.
peciRlly the fear Of war with Russia and
Afghanistan In 1885, kept business in a
very unsatislaCtory condition.