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Show BRITISH TBADZ DEPEEE3I0N. A writer in o recent i-;uo ol the London Daily Chronicle tl&lea the real causes of the depression of trado in Gre.it Britain more forcibly than is customary with hi-j countrymen at home. 'Ihe Knliah eJitor is not wil . ling to acknowledge the true situation, but wants to delude himself and his reader into the belief that the trouble ; is only temporary and will soon pass 'away. This is not the case, however, let him Wind himself aa he may. Tho writer referred to showa huw British trade is passing from the country never to r. turn, He takes up several branches ol tuaoufacturiug industry, and with figures ai,d facts to support him, exposes the causes that have led to tho bubiuees decline. Thus, under tho head of "cotton," he nays the timo was when Englishmen, having hav-ing coal and iron at hand, brought lo their aid steam machinery, and imported, im-ported, manufactured and exported cotton goods, making enormous profiia. Enterprising Americans Baw the figures, and very naturally reasoned reas-oned that "Cotton grows hero, and if wo manufacture it we shall aavo the freights to and fro, double iusuranccB, charges of tho merchant, tho exporter ex-porter and importer, and bo save a largo expenditure." Tho result was a cotton mill in America which returned re-turned a profit ol -14 per cent. This waa followed by others, and 2,300 mills were soon iu operation here, and England haJ lost 40,000,000 con-eumera con-eumera of goods of her manufacture. Later the eamo thing happened in India, losing another vast market to Great Britaiu. The story was repeated re-peated in iron. For many years England Eng-land had the world for a market in iron goods; but after a while Americana, Ameri-cana, Austriana, Belgians, the French and Germans, discovered that England Eng-land was not tho only country containing con-taining this metal. In time thoso countries not only supplied themselves, them-selves, but because of cheaper labor, actually invaded the British markets, delivering goods cheaper hy 25 per cent, than they could be produced in England. Of another leading and profitable industry the writer says: At one timowo wore almost tho only nation which used and exported coal, tnid jo long rb other nations neglo.ted this gift we did a roaring trado. ilot tho price of this article, by Ilia time it reached iho fjrtign consumer, was so yrcat that a largo prolit was naturally otl'ijred lo foroig icr; in aomo casoi increased in-creased by gjverniriunt grants towards the discovery, opening up and utilization of coul mines, und us ibese came into operation eo our cjflls wore more and more diqiontcd wilii, and in most parts of the eaith He enumerates a long lidt of in dustries which a few years ago were entirely under the control of England, but have now passed, or are rapidly passing into other hand?. British sugar-refiners are bankrupting be cause- the work is being done where the crudo sugar is produced; the jute mills have been removed Irom Dun-deo Dun-deo to tho banks of Ihe Hoogly, in tho jute centre; America and Australia which grow the wool, have the woolen mills, and so on. It is clearly evident evi-dent that tho British trade depression is permanent. There can bono revival in the three great staple industries ol the kingdom cotton, iron and coal. All of theso things can bo produced oheaper elsewhere, and without a market England may as well bo without the articles themselves. |
