The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1901-12-29
ECONOMIC CONDITIONS
IN GREAT BRITAIN

The following extracts are from the
annual report of Consul Boyle of LiV-
erpool:
To an American observer the eco
nomic conditions now existing in Eng
land are of great interest and impor-
lance from the standpoint of interna-
tional trade and commerce. These con-
ditions have been for some time the
subject of a general and spirited dis
cussion by the British press and plat
| form. There are possibilities tnat the
resultant developments may be such
changes as will radically aifect the
entire industrial and social life or the
British nation; and, furthermore, there
is a large and eVer-increasing num-
her of thoughtful and well-inforned
people who express the serious beliet
that If these changes do not come
about in the near future, Great Brit
ain will be permanently relegated to
the third position in the ranks of the
worlds trade and commerce.
Trade generally is not as good now
as it was a year ago, or two years ago.
The year 1900 was most prosperous,
but all authorities agree that British
| trade has received q check, dating
| from the early part of last January.
| The September quarterly returns for
| the United Kingdom show decrease
of both imports and exports, and the
returns for the 10 months OF 19Vl end
| ed October 81 show a decrease OF eX-
ports amounting to $47, 977 1854 as com
| pared with 1900. A rather gloomy view
of the future prevails, and the cry is
| going up from commercial BODIES,
| from political speakers, from economic
writer's, and from the newspapers that
Something must be done" Even
year ago, or two years ago. Wnen
| trade was exceptionally good there
were many complaints of the success
| full rivalry of other countries, but now
| that the era of good times seems
| about to be replaced by period OF
| dulness, if not of actual bad trade, the
| complaints are louder and more gen
| eral. When the war in South Africa is
| over, there is bound to be a popular
! demand for legislative action, and the
| indications are that the government
will be compelled to devote Itself to the
more earnest consideration of matters
relating to the trade and commerce
| of the country. An observer OF the
| public trend of things can not but be
| Impressed with the fact that during the
| last two or three years there has peen
manifested in England a widespread
and growing belief that unless great
| changes are brought about this coun-
| try is doomed to take rearWard place
| in the commerce Of the world; but 1t
| is proper to add that these forebodings
| are controVerted by some OF the lead
| ing manufacturers and commercial au-
| thorities in the country. 1t Is conced-
| ed that in manufactures Great Britain
| has within the last few years failed
| to meet the competition of the United
| States and Germany. Those optimis-
| tically inclined plead exceptional and
marvellous natural advantages SO far
| as the United States is concerned, and,
as to Germany, the unsatisfactory
financial and commercial situation Just
now prevailing there is cited as an In
stance of a country booming" itself
too rapidly. There are fears expressed
that even in the carrying trade the
supremacy of Great Britain Is threat
ened.
A great many reasons are advanced
for this condition of affairs, and there
are Just as many, and probably more,
panaceas suggested. Without indulg-
| ing in any theories of my own, I
| present below, in brief, a statement OF
! the different views current in England
bearing upon this subject.
THE "FAIR-TRADE" MOVEMENT.
While most of the leaders of both
the great opposing political parties
seem to be Cat least publicly as
strongly welded to free trade as ever
| they were there IS undoubtedly a
| strong sentiment among the masses,
| and one which appears to be getting
| stronger all the time, in favor of
| changing the present fiscal policy Of
! this country, so as to bring about
what has become popularity known as
| fair trade" which, in fact is nothing
| but reciprocity. Protection per Sc is
not very much advocated, but 1t is
| significant that many of the most
widely circulated papers of Great Brit
| ain are now boldly advocating a policy
| of fair trade" or do to others as
| they do to you" and this doctrine has
| become quite popular within the club
| organizations of the dominant party,
although it is proper to state that those
| responsible for official political decla-
| rations are careful not to commit
| themselves to this policy. 1t is alto
| gether probable that If the United
| Kingdom passes through a period Of
! hard times within the near future, this
question will become a leading one.
| Against this situation there must be
| set the national dislike to change; a
| traditional respect, amounting almost
| to reverence, for the established in
| situations" of the country (of which
| free trade is one of the most funda-
| mental; and the opposition of certain
| vested interests directly benefited by
| free trade, and of the Golden school,
| of political economists, who hold to
| the view that the policy Of free trade
| is not only sound political ethics, but
| is in financial results the best, especial
| ly under the peculiar circumstances of
| this country
/ A 7 DETOIl MIC