Year: 1877

a Monopoly Giant Fast whitening a way


RefOre American Competition


Although you will know all about the


opening of parliament before this letter


reaches you. it is very unlikely that any.


thing will have happened to clear away


the confusion which at present surrounds


the political parties. Seldom has 8


session opened amid so much doubt and


misgiving on either side. Many mem.


bers of the opposition are, of course,


eager to attack the ministry--but upon


what ground The answer seems simple


the eastern question. / do not myself


believe that there is so much to be made


out of that as many people try TO per


suade themselves. l think you will


find that the public generally are not


dissatisfied with the acts of the govern


ment, although they may not approve o.


the words of some members of it. After


all, what was there for England to do ?


Canon Liddon and his clique says that


she ought to have joined with Russia in


expelling the Turks from Europe. But


| have not myself come across anybody


who holds that opinion, or who seems to


think it at all desirable that England
should plunge into an unnecessary and
sentimental war A ministry which had
allowed the country to drift inte war,
would have been swept away in storm
of popular passion.


a nation may have great resources left
within it, but it is scarcely fitted to enter
into a lite-and-death struggle with a
foreign power at the moment when its
trade is almost paralyzed. And that is
the condition of England at this moment.
In all the large manufacturing cenUers
of the country we hear of nothing but
depression and the disappearance of bus
iness-mills working on half time only
or altogether closed, factories shut up,
large establishments which are not re-
ceiving now as many orders in a year as
they used to receive in single month.
Where are the "cOttOn lords" to-day
They seem to have suddenly become ex-
tinct. The great trade upon which they
fourished is whitening away. The change
has come with startling suddeness, and
no one yet seems to fully realize the inn
mense consequences which it must carly
with it. However, no one appears to
understand what has brought the catas-
trophe to pass. at can only be a tenn
pOrarv depression" said a manufacturer
from Oldham to me the other day " the
surplus goods will be cleared off the
and then trade will revive
again" ! was sorry to discourage him
by giving him reasons for holding diff
ferent opinion.


The cotton trade, in my opinion, is
passing from England, not temporarily,
but permanently, and no one who is en-
gagged in it yet realizes the fact. And
what has produced the revolution? The
great and silent advance made in cotton
on your side of the Allan
tic. / need not tell you that hitherto
England has held practically a mono
poly in this branch of industry. She !
the world. But now where
,ver a piece of English cotton can enter |
/ market another piece OF American cot !
on is to be seen side by side with it--al- |
ways as good, sometimes better, in quail |
ty, and low price. This last fact is one |
or which | was unprepared when ] be-
ran to make inquiries into the subject. /
But fact it is ; and it is fatal to the re-
overy of English trade.


There is a common, yet useful, kind of
Otton goods much used in families where
here are young children. 1t is of Amer
can manufacture. We tried TO get ii
ver here last summer, but it was not
known. The goods which most
early approached it were both coarse
nd dearer. At last we found shop
where it was imported from America,
nd there the sale for it was increasing
very day. People who saw it at once
aid. "This is better than English cotton,
Id the price is lower. Where do you
ct it from ?" They were astonished to
ear that it came from the mills of New
England.


Here, then, we are beaten and under
DID in our own speciality, and actually
t our own doors. can go across the
Dad and buy better and cheaper Amer
,an than English cotton. In India, also,
re are elbowed out of the field by the
anne keen and indefatigable rivals. Who
yould have believed ten years ago that
uch things were possible? To be can
id, there are many who do not believe
now. 1t is an unwelccme phenomenon,
nd they are determined not to see it, or
ry hard to explain it away. But there
is. destined, as / have said, to make
nightly changes in the whole current of
,nglish trade and prosperity. l find
lenty of people talking about the land
uestion and the eastern question, about
he misdeeds of the ministry and the
uffering Bulgarians. But hear no one
iscussing an organic change in branch
{ English trade which was once thought |
ital to the welfare of the country. Per
aps we can do without it; some other
rade or manufacture may spring up to
axe its place. But one thing | am GER
ain that the palmy days of the cotton
rade in England are over. 1t is not a
lere partial subsidence which we see
!, is dissolution. When that truth !
)mes to be recognized, as it must one
ay be, You will find that the attention of
ne people of this country is fixed less
pom the Bulgarian peasantry than upon
ie sufferings of the unemployed and
oor in their own land.