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be rded for the KoMly September j^ga^ 91...
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iu the preceding four years. The. great ...
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THE ATLANTIC TELEGRAPH COMPANY. Whii-e t...
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GENERAL TRADE REPORT. London, Friday Eve...
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Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
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Be Rded For The Komly September J^Ga^ 91...
KoMly September j ^ ga ^ 913
Iu The Preceding Four Years. The. Great ...
iu the preceding four years . The . great change m merely in relative values , or in the calculation , of them ' by or the cxpression of them in , money . 1 lie reduction in the price or value--of-manufactured articles which we ehicflv export has not equalled the reduction in the price of the raw materials which we chiefly import . This is the chief explanation of the ' change , and it is a remarkable circumstance in connexion with the successive , continual , and great reductions in the cost of producing manufactures , which is a great feature in modern society , and in connexion with the theory that the price of raw produce , on the contrary , tends
contiuually to rise . Such opposite tendencies cannot long co-exist , and in these facts we see ihe reverse taking place , and an equilibrium restored which , did they continue , would be destroyed , and one sneeies of industry be permanently discouraged . ' For individuals whose gains or losses are always measured and determined by prices , such changes m relat ive value as those now adverted to arc of vast importance ; to the nation , whose welfare depends not on money prices , but on the quantities of commodities produced and commanded by labour , such changes , except as they influence production , arc of no consequence . The quantity of wheat , for exfood obtained
We do not rely much on the return for the last six mouths , which may yet' receive important corrections ; but the figures generally indicate a steadiness and a continually progressive increase in the trade to our own possessions superior to our foreign trade . To them the exports iii the first half of the year exceed the exports in the first'half of 1 S 57 , and the decline in our exports is sok-ly to' foreign countries ' . They have not the- means of buying so much this year as Ihcv had last . Generally speaking , thisi superiority i . s " due to the similar or Tree principles , which
prevail alike in the home legislation and in the colonial legislation , though we cannot say that in either of them these free princi p les are fully carried out . Foreign countries would participate more than they now do in our advantages , would obtain both a larger and steadier trade , were they to adopt our free principles ; but some time will yet elapse , though progress is making every year , before they can get rid of old prejudices and allow industry to take its free and natural course .
ample , is greater , and there is more bv less labour , thou g h the price be less . From : this will ilow an increase of population and of productive labour . To the person whose existing stock of . manufactured goods or merchandise is reduced in value by the . fall in the price 6 f subsistence and all kinds of raw materials / this may be an injury or ritin ; to the nation , it is a benefit . To the individual , too , it can only be momentarily disadvantageous , for his purchases and sales arc soon adjusted to any new scale of prices , and the cheapness , which encourages the-growth of population ; soon becomes beneficial alike to all ; but , in the mean time , he lias not as much money as he expected to have , av . d he is disappointed . He suffers both from the
generally lessened demand or . disinclination to purchase while prices arc falling , and from the temporary dccline in the value of his possessions . To individuals , money prices are all important ; to nationSj they are only " important as indications of the quantities of commodities . Doubling the aggregate of our trade for the first six mouths of the year , we have 21 G millions as the probable value for the whole year . This is 03 millions less than the aggregate value of our trade in 1 S 37 , and 42 millions less than the aggregate value in 1 S 5 G . It exceeds that of 1 S 55 by two millions , and is below that of 1 S 5 A by seven millions . This is the explanation of what is called the stagnation of trade . It is not as active as in
lb . 57 and 1 S 5 (> . But the reduction is , us we have shown , nominal to a considerable extent , the reduction in the quantities of commodities by no means equalling the reduction in prices . The convulsion ' that terrified us in 1 S 57 was the means of adjusting fictitious prices to realities , and only enables society , instead of remaining fixed on an artificial level , to which false credit had raised it , lo rise the higher for the temporary fall . Our trade tables , however , have another aspect . Both exports and imports are still distinguished into those which go to and como from foreign countries , and go , to and come from our colonies . Between 1 S 51 and 1 S 57 these circumstances aro represented by the following figures : — TOTAL IMPORTS . GOMPUTtiP VALVli . - : - ~ T— -- ~ i 93 . i ; ¦ ' • "•¦ 18 65 . ' ISJJO . ' . ' l ' 8 S 7 ^ Prom foreign £ £ £ £ countries U 3 , 23 l > , Q 3 i 109 , 930 , 030 12 p , 517 , G 0 S Not yot Prom British i I cUstfnposaosslons ... 3-1 . MM 00 33 , 583 , 311 ' 13 , 1 ) 20 . 0911 guishoil . Total ! 152 , 380 , 003 1 1 W . 512 . 880 l 72 , r > H-, liH 137 . 0 m 33- } 1868 . —Six Months . From fornlKii countrios j £ 0 O ,. U'J . SS . 1 I ' roin British possessions 13 , ! 23 O , 2 (! U Total * OO . t ) 77 , l ! H TOTAL EXl'Om ' s ' oT ' NTlWirAND FORETa ~ N PRODU 013 . ¦ I ) ROI , AIt 1 il > VAl . Ulj . -JMMvmJ ^ . * $ *> W ^'^ ifl | L To iirltlHK " poa- 7 Q > m > m W . 888 , 870 102 , 52 t , ( 17 ft ion . 038 , 150 S 08 Mlo » 8 30 , 853 , 108 28 , 808 , 031 30 , ( $ lKJ , 07 t » . 10 , 470 . 8 H ) T o * L . •••••¦ . 116 , 718 , 002 U 0 . 01 H . 300 li ) 0 , 2 ; i 0 , i } D 3 UM 0 M 02 BRITISH i'UODUOE ONLY , rr ' ^ r i Ja ° 8 .-S 1 XMONTII 8 . £ n I ? lufe countrl « s * 33 , S 89 . 05-l r British possessions ll > , O 7 y , iao . Total jti a ;) . 4 U 7 . tAO-A
The Atlantic Telegraph Company. Whii-E T...
THE ATLANTIC TELEGRAPH COMPANY . Whii-e the Atlantic telegraph was in progress , the first question was , " Can it be laid down ? " the next was , " Can it work without such retardation as to cause crowding and indistinct transmission of signals ? " These questions have been answered , and now comes' a third , " Can it pay ? " The slowne . 33 with which the early messages-were ¦ transmitted , the delay in throwing the line open to the public , and the slow rate at which the line still works , have given , occupation to the doubters . What Dr . "Whitebouse had solved in a dock has been verified | n the ocean , that signals can be transmitted through two thousand miles of wire . The conductible power that was exhibited in the cable in the storehouse at Plymouth has been found unimpaired when the cable is immersed under great pressure ; and it has been proved that battery-power can be provided adequate to secure the transmission of the signals . Sufficient , therefore , has been done to show that what was expected has been accomplished , and that the line is in a working condition . The rate of message last reported is two words per minute , the capabilities of the apparatus having so far improved ; and , . tinder these circumstances , instead of there being ground for serious doubt there is ground for confidence . So far from there being any reason for assuming that the maximum power of transmission has been obtained through long lengths of wire or through the Atlantic cable , we are onlv justified in regarding the present
the code system . It may be regarded for the purpose as , having two distinct termini , its business will be-to a great degree of a steady routine character , affording the daily or periodical supply of messages of defined classes , as prices of stocks , cottons , and corn , arid transactions in them , sailings of steamers , and a variety of operations which will admit of classification under probably some twenty codes , thereby allowing a -large portion , of the business to be conducted by much fewer signals . 'What the present speed in signals is we do not precisely know , most likely fifteen or . sixteen per minute , now equivalent to two words , but ' which , under the code system , would allow of five words per minute being transmitted ; and taking the average of transactions , and allowing four would
words per minute for code and general messages , at once double the economical powers of the line . The staff of the Atlantic Telegraph Company is picked throughout , as the late expeditions well showed , and it includes picked telegraphers as well as engineers and electricians . Among the telegraphers there must be some conversant with the code system , for Mr . Edward Bull was a chief clerk of the Electric Telegraph Company , and , being one of the earliest pupils of Whishaw , would be trained in his code system . .. Wbishaw ' s codes would likewise be found the ' most available , for they exist in the records of the Electric Telegraph Company , and in liis valuable papers , carried out with all that minute care which was one of his characteristics .
result as a minimum . For that matter there are people enough , now that Dr . Whitehouse has fulfilled his promises , ready to assert that they can send six or eight words per minute . Two words per minute will allow from six to eight short messages , or a ten-line message , per hour , and at the rate of 1 / . or five dollars por moo sage , this will give a revenue of some seventy thousand pounds , or three hundred and fifty thousand dollars per year . In fact , there is the business for the lino , and the capability of conducting it . In the course of working , and with the progress of improvement which always attends such enterprises , we may safely look for nn increase to three words , four words , six ^ seven and eight , when the capabilities of the
lino will be better shown , and a reduction iu the price of messages can be effected . There is likewise another mechanical or technical expedient for increasing tho power of the line , which will be applied when tho course of business is more defined and bettor understood , and that is the code system . At a time when the telegraph was new , and when in fact it was still opon to question whether tho electric , the acoustic , or the hydraulic telegraph would bo found to present tho greatest mechanical facilities , tho late Francis Wbishaw bestowed much timo in framing and perfecting a code system for tho greater economy of signal power , being one of tho many subjocts to which tho assiduous labour and practical goniua of that able man were applied . According to his system thero wna a separate codo or sot of signals for oach branch of business , for shipping , for stocks and shnres ,
railway * , corn , and so forth , whereby a signal being made announcing tho codo to bo adopted , ordinary signals were applied to signify special terms . Thus , all tho cornmarket reports aro worked on ono code , wherein conventionivl signs represent each class of produce " , while tho samo signs would , on tho colonial-market codo signal being given , have a totally dillorent value . - ~~ Wr t 8 hn ^^ rns ^ lwwjnrT ^ menus of economising * telegraphic power , and ho proposoil to introduce it when ho was employed in tho organisation of the stall' of tho Elootric Telegraph Company , lie remained , howovor , only a short time thorp , and tho system Uaa been only partially employed , bocauso with tho development of telegraphy , and on account of the numbor of stations , it is found easier or loss couiplox to work as fur aa possible on ono general system . The Atlantic telegraph , however , presents just thoso conditions which aro moat favourable for tUo application of
General Trade Report. London, Friday Eve...
GENERAL TRADE REPORT . London , Friday Evening . We . ' , have- again , to report a satisfactory state of trade throughout the ' country .. Even in the iron and hardware districts , where the change has been the last to commence , there is a marked improvement , and a cheering tone for the future , which , it is hoped , will compensate for the losses of the past . The cotton and woollen manufactures may be described as prosperous . On this point it will be seen that an eminent Manchester house has distinctly pronounced that there is now something like a return of old . times , when employment was general and profits large . The railway traffic receipts , after making allowance for competition on the one side , and reduced tariffs- ' on' the other , confirm , by their progressive increase , the fact of the general extension of commerce ; and it i 3 quite certain that nothing like speculation is encouraged anywhere . The Manchester markets this week have been ex ? tremely firm . A moderate business in all articles has been transacted at the full prices of last week , while in some cases a slight advance has been paid . In export yarns we do not hear of much business , spinners being well under contract and indifferent about selling , while on the other hand the buyers for Germany and India seem very cautious , and operate sparingly ; For Russia , the demand shows increased animation , and a fair amount of business has been done in the better qualities of 30 ' s water twist and 40 ' s mule , aa well as in the same class of twist and pin cops in 3 . s , 36 ' s , & c , and these ynrus me uu uciier to sen , tne Hardening tendency occasionally amounting to a positive advance of M . per
pound . Two-fold yarns are also more inquired for , especially the finer counts , from 80 ' s upwards . Hometrade yarns present no new feature , but remain steady in value . In cloth considerable business is doing , though it is in some degree checked by the rising tendency of prices , especially in India and China shirtings , for which the demand continues to improve . For . domestic ? , T cloths , and indeed most kinds of goods , there is a steady demand , and prices are steadily hardening . During the week two important monthly circulars respecting the trade of Manchester lmvo been issued from houses whose transactions enable them to speak with authority . Tho first is from Messrs . Du Fay and Co . ' a . Thoy say , that from tho impulses the market ia now under , the present ,
or a somewhat higher range of prices will , in all probability , bo maintained for tho remainder of the year ; and thoy add , * Tho favourable harvest prospects , and active borne demand , at a timo when continental orders for the north of Europe must bo given out for yarns and goods ; to ensure their delivery before tho close of the navigation , as well as some demand foe transatlantic markets , have all tended to place producers in a bottor position than they have been for some timo past . Tho circumstance that tho holders of cotton do not meet with tho samo facilities as thoy had boon wont to enjoy , as regards advances by tho banks , prevents" their taking an undue advantage of tho present favourable stato of our markot . " And they conclude as follows : —
" Tho homo-trado merchants have dono a larger business than in any of tho previous months of the yoar . Tiflr ^ rnwem'fnrtiTo 'T ^ oxiats that on tho whole it will prove on avorngo one , nnd this , jointly with a good Amoriean harvost , will secure moderate pricos for tho chiof nocoasarJoa of wo , and enable tho working class to spend more in articles , of clothing than thoy have boon ably to do for some timo past . Tho trade with tho Unltod Stntos of Anionoa is gradually but vory slowly improving s thoro is ovory expectation , however , that tho spring trade will assume somewhat of its former activity . The foreign West Indies audniUnco » t oouutrieg have token mvioh less than
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Citation
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Leader (1850-1860), Sept. 4, 1858, page 25, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/cld_04091858/page/25/
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