Year: 1879

s.

 LONDON, January 21 1879

 Politics and the depressed condition of ou various industries are the topics which occup, the public attention just now to the exclusion of all others. A few years ago complaint wa made that Mir. Gladstone was harrassing Brit ish commercial interests; but rarely within living memory have these interests sunk into so low a condition as prevails at the presen moment. Now 1 am not one of those persons who say that the Imperial policy of the pres ent government is altogether responsible fol this condition of things; but there can be little doubt in any reasonable mind that if the Ministry of Lord Beaconsfield had devoted some of the attention to our domestic interests thet it has bestowed upon the supposed for eign interests of Great Britain, it would have been better for the country at large. The war in Afghanistan, successful as every one will be glad to fnditin its results has done the govern ment no good. There are not wanting signs that the constituencies are Wavering in their allegiance. The conservatives endeavor to make light of this, and they are supported bv the influence or our leading liberal journal, the Times but the best proof that my state- ment is accurate is the fact that elections have been put off until the present moribund Par liament has run it's course. The government has every confidence that it's policy is approV- 

 stituencies an opportunity of formally record ing their convictions. It is no secret, 1 be- lieve, that not long ago powerful party in the Cabinet was in favor of an immediate dissolu- tion: but, as 1 have said the elections are now indefinitely postponed, and persons will be able to form their own conclusions upon the facts.

 AFTER BEACONsFIELD AND GLADLToNE, WHO :! s There is one question which causes thought ful men of both parties much concern, and that is Who are to be the political leaders of the future? Lord Beaconsfield is seventy four years of age, and Mir. Gladstone is in his seventieth year. Making allowance for the difference of years, the latter is a much more robust man than his great rival, but under the ordinary conditions of humanity we cannot expect to sec them maintain their position in active political life for q long period The conservative party is in specially unfortu nate position. When it's chief looks round he might we'll exclaim, Apres moi, e de5atge. Something more than mere ability will be re- quired to keep the party together (otherwIse Lord Salisbury would make the only possible Tory Premier); that peculiar power of mould ing men to his views which Lord Beacons- field possesses, and which Lord Palmerston had, is necessary element of present-day statesmanship. The two men who inspired

 

 country have left the conservative party, or at least are sulking in their tents. Lords Derby and Carnarvon are statesmen of importance in discussing the future. They have differed from their party on previous occasions, and have come back to the fold after wandering in the wilds of opposition but the breach which has now arisen between them and the conser- vative chiefs is gulf that it is impossible to bridge over. Lord Derby's recent visit to Mr. Bright is significant and should he pass over to the liberal side of the House it will be of importance in many ways. It is already con- fidently asserted that Lord Derby will throw the whole of his enormous influence in Lan- cashire at the next election into the scale in favor of the liberal candidates. With regard to the liberals, the party enjoys an abundance of speaking talent but it would be difficult to name worthy leader for it after Mir. Glad stone. Perhaps it is useless to speculate upon this, for in conversation with well-known liberals have been told that there is every expectation that the ex-Premier will be pre- vailed upon to return to power when the times are ripe. If he stays in the House-and there is every probability of his doing so-this result is inevitable. A man of so transcendent tal ents in an obscure position while his party were in office would be not only an anomaly but an impossibility. Moreover, the country would net permit the sacrifice.

 Turning for moment again to the condition of trade, the darkest point of the outlook is that no one knows in what quarter to expect a recovery. AS a Lancashire manufacturer re- marked to me not long ago, I've have had bad times before and have survived them, and done better afterward than we had ever done before. But the difficulty now is that capital and labor will be obliged to enter upon new relations if we are to witness a return of our old prosperity. We shall be compelled to find new markets for our goods, or British workmen must accept lower wages than they have latterly been receiving, or perhaps both. In many of those articles and manufactures in which we once did an enormous trade we have been outdone by continental competitions. We can do nothing against them with the pres ent rate of wages. We are heated continually by France, Belgium, Germany and other coun- tries. Some English manufacturers have been obliged to remove the seat of their operations to foreign countries to derive profit from their manufactures. Altogether makers are in pc- culiar and puzzling condition" The substance of these opinions is also finding expression in the journals. The pressure of the dull times is felt everywhere and in every way. Trade in London has never been so stagnant, and shopkeepers complain bitterly that they have no customers, and experience the utmost ditfi- culties in making both ends meet. With res ldent court and consequent greater eXpendl- ture, no doubt trade would fare better as re- gards the metropolis, but then the same condi- tion of things prevails in the large provincial towns. Birmingham is the only place of any magnitude that has not felt the pressure of the times most acutely and yet even there pub lie subscription has been necessary for the re- lief of the unemployed. 1 am no pessmist, but commercially one is bound to admit that for many years trade prospects have not been so dark in Great Britian as now