On this page
-
Text (6)
-
41ft THE LEADER. fNo. 470, March 26, 185...
-
TRADE MORALITY 'R TitAJUiii , mUJttAJjI^X. •—TAYIiOIt'S PERSIAN THREAD.
-
THE TRADE OF TWO MONTHS. The official tr...
-
his bottle of wine, and covers his back ...
-
MONET MARKET & STOCK EXCHANGE.
-
Friday Evening. Tue great feature of the...
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.
-
-
Transcript
-
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.
Additionally, when viewing full transcripts, extracted text may not be in the same order as the original document.
41ft The Leader. Fno. 470, March 26, 185...
41 ft THE LEADER . fNo . 470 , March 26 , 1859 .
Trade Morality 'R Titajuiii , Mujttajji^X. •—Tayiioit's Persian Thread.
commercial ;
The Trade Of Two Months. The Official Tr...
THE TRADE OF TWO MONTHS . The official trade ¦ returns for February , now published , are extremely favourable . In the imports generally , but notably in live animals , coffee , cotton , raw silk , wine , & c , tliere is an increase both as against February , 1838 and 1857 . In corn and flour , from the abundance of our present supplies , and the low price of these articles here , there is naturally a falling-off in the quantities imported . In tallow , too , and timber we notice a decline ; and a considerable decline in the quantity of tea imported , as against 1856 , but not as against 1857 . It may be mentioned , too , that though the quantity of coffee imported is in excess , the quantity exported is also in excess , and the quantity in bond at the end of February is less than last year . On
the Continent the demand for coffee has latterly increased ; and these circumstances explain the recent condition of the coffee market , and indicate a rise in the price . The same remark may be made of tea , with this difference , that the quantity imported is not , relatively , so much in excess as that of coffee , and the quantity in bond is proportionabiy less . In . accordance Svith our-enlarged imports , the shipping entered inwards from abroad , in the month , and the two nionths , and employed in the coasting trade , is considerably more than in the same periods in 1857 and in 1858 ; and of this increase British shipping has a full share . As new shipping companies are starting every day , we may presume that this great interest is now rapidly recovering from the depression which made it , a short time ago , so unexpectedly relapse into
protectionism . Though the clearances of shipping outwards in February , 1859 , are not so numerous as in February , 1857 , they are in excess of February , 1858 ; and the value of the exports in the month .. is in excess of both the previous years . The value of exports in February was — 1857 . 3 S 5 & lSflO . £ 0 , 313 , 40 £ 7 , ' -iS 8 , nO .... £ 9 , ( 514 , 143 . And in the two months—1857 . 1858 . . 18 fi 9 , £ 18 , 371 , 145 .... £ ii , aiO , OlG .... £ 19 , 207 , 500 . Thus , notwithstanding the disquietude occasioned by the warlike demonstrations of the sovereigns of the Continent , our trade has suffered very little . It is so extensive , and embraces so many countries out of Europe , that the little interruption with each European country amounts to an insignificant sum compared to the vast whole .
Though , speculation has not revived , our real substantial trade is greater than ever it was . We can state , too , that this is accompanied l > y many advantages to the great ; multitude ; and the pauperism in England and " Wales was , in the last week of February , nearly 11 per cent ,, less than in the corresponding week of 1857 . Throughout the month it has been from 10 to 12 per cent , less than in 1858 . It is probably from relying on the prosperity , and consequently the ^ tranquillity of the people , that the political parties are more at their ease than is apparently justifiable , in dealing with the groat question of Reform .
His Bottle Of Wine, And Covers His Back ...
his bottle of wine , and covers his back with the cloth . At the same time it cannot be denied , useful as are the pursuits of traders , and honourable as is the conduct of the bulk of traders , that of late many glaring examples of dishonesty have come to light amongst them , and they have been subjected by the other classes , especially preachers and public writers , to severe rebukes . Bankers , discount brokers , merchants , quite princely for the extent of their dealings , manufacturers , wholesale and retail dealers , have all furnished examples of dealing most unscrupulously with the property of other people .
On Wednesday a case was brought before Sn-W . Pa <* -e Wood , Vice-Chancellor , which illustrates the depths to which the roots of this malady of the ao-e have struck , and how widely they are spread . In almost every family of the middle classes " Taylor ' s Persian Thread" is preferred to every other , and is . continually used . It is wound ^ reels , and every reel has a label on it , stating the quantity it contains . Those reels are sold by millions , and similar -reels- being made by other manufacturers , hundreds of millions . of-reels , are used by sempstresses and housewives in the year . Mr . W , Taylor , the surviving partner in the firm
of J . and W . Taylor , of Leicestcx-, the manufacturer of this kind of thread ,-moved for an injunction torestrain Henry Degetau and Henry Dal ton , of Manchester , from infringing his trade-mark . In the pleadings it transpired that the firm of J . and W . Taylor had , at the request of Degetau , supplied the firm of Eller and Co ., of Manchester , and others , with considerable quantities of these reels , 200 gross in consequence of one prder , each reel marked to contain 300 yards of sewing cotton * while it . actually contained only 250 . Several such cases werer brought under the cognizance of the Court , which refused the injunction , because it would be tantamount to " continuing a monopoly of
guilty of it . One rogue may obtain a temporary advantage , but when dishonesty is so widely spread it ends siniply in general loss . * It is quite an axiom of political economy that there cannot be two rates of profit in a community—except as different occupations are hazardous , or otherwise—an d therefore , the effect of this general dishonesty is to keep doAvn the general rate of profit , and lessen the advantages of all these fraudulent dealers . It checks , too , the free vise of the- commodities they make or sell , and ultimately injures themselves . In them , dishonesty , great as it is , is continually found out and continually checked ; but there is a similar species of dishonesty iu other classes ¦ which is neither continually found out nor continually
checked . Only by some accidents-such as the extreme roguery of one defaulter—is the corruption which pervades thepublic service exposed , as by the Weedon inquiry . Till the deficiency of 5 , 000 , 000 / ., which IJord Clarence Psiget has made known , ¦ be ., explained in detail , the public can but believe that not . a little of it has somehow-or other been very dishonestly ' appropriated l > v those who have disposed of it . Nor can any one run his eye over the details of the estimates for the public service for any one year without feelhvr a moral conviction at every pa ^ e that much of the money of the public is obtained on . . . false pretexts . The immense promises of the Government— -to . fulfilwhich it demarids such vast sums of mmiev—and its .
really inefficient performances , are gigantic discrepancies compared to-. the-soiling of 2 . 50 yards of sewing cotton for 300 . We believe , too , that the different parties of politicians . ure-just ' as well aware as the manufacturers and sellers of . < ewin ; j . cotton , that they sell the public , for 06 , 000 , 000 / . a year , services that arc not worth half the monoy , and leave it no option . The dishonesty , - -now so . . conspicuous , is not confined to trade , ' nor t <> one . country . It is as rife in the United States as in En ; j ; laad , und as rife amongst the governing as the trading classes . Its essence is the appropriation , by false representations , of the property of others , which is a characteristic ' ' of tlie age and of many classes in all countries . .
it is practicable only for a tradesman to unwmd the cotton and measure the quantity . The sempstress cannot spoil the reel and waste her time by ascertaining yard by yard the length of its contents . This case , however , general as to sewing cotton , is only an illustration—and as such we dwell on it—of practices which are common in many trades , "There are other * articles * such as matches made of cotton , steel-pens , hooks and eyes , & c ., & c ., sold in boxes , said to contain 1 , 000 , or a gross , or some other number , in which they arovcry often deficient ;
and in such cases the manufacturers , the wholesale and the retail dealers , are all generally award of the fraud' practised on the consumer , and all conspire to perpetrate it . However great a Jknavo a showy banker or a speculative merchant nxay bo , he has few 'or no accomplices ; but this case reveals to us whole classes of men unblushingly conspiring to defraud , giving ordex's in writing to execute fraudulent schemes , as matters of course , and deliberately planning their operations to cheat vast masses of consumers of all classes and conditions . Such clear evidence of
TRADE MORALITY . — TAXLOB'S PBRSIA 1 T THREAD . Of late we have been quite inundated with just complaints of the immorality of traders ; Amongst the class there may bo many patriots , many churchgpers , many good fathers and good husbands , many most respectable men , but there is also a great , deal of fraud . All those who imagine that one trader cannot thrive but ; at the expense of some other trader— -the principle , for many years of national poljey . —agree with a mercantile friend of ours ; who says that all trade is oheatery . This is not ? our opinion . The men who removo goods from ¦ w here ibhey arc not wanted to-where they arc wanted—th « men who dx'aw otT pipes of wine into ¦ bottles , who sell a web of cloth by the yard , and so supply the wonts of their noighbouye , « vo as necessary * to stimulate , continue , and adjust production ana consumption , as the manufacturer , or the grape grower , or the gentleman who drinks
fraud . " But the plaintiff had been requested by Degetau and others to supply them with reels containing a less quantity than they were " marked to contain . Not only the Taylor ' s , therefore , but the persons they dealt with , and their " clients " also , have all entered into this conspiracy to defraud , housewives and sempstresses by selling them only 250 or 280 yards of sewing cotton for 300 yards . Other manufacturers of sewing cotton have done the same , and probably to a greater extent than . the ¦ Tay lor ? ., They have been enabled to carry on their game in safety for years , because
a fraudulent disposition generally prevalent , and of general disregard of tlie right of property in Others , wo have not before met with , ana , therefore , wo think this case is , especially worthy of public attention . Wo should induct our readers into error , howevefr , if we led them to suppose that this disregard of the right of property ia something peculiar to traders . The competition amongst them to cot cuetoxnoi's by soiling cheap may etixnulato dishonesty , but , at the same tinio , it diminishes the profit , and , therefore , weakens the motive to bo
Monet Market & Stock Exchange.
MONET MARKET & STOCK EXCHANGE .
Friday Evening. Tue Great Feature Of The...
Friday Evening . Tue great feature of the money market this day was the announcement of a llussian loan for . £ 12 , 000 , 000 , which has been negotiated by Messrs . Thompson , Bevan , and Co . at G 7 for 3 per cent . Other parties , it is said , were candulates for it , and there appear s at present no doubt that it will be a succors . A no credit of Russia is very good , especially on tlio Continent ,. and it is supposed there will be no difficulty indisposing of the stock . It had the ettect , when announced , of depressing the funds , which have been rather better in the week £ VQt ccnt' „ " , ? opened at 96 J »; and were afterwards done at !)(> J , ftt which they closed . Bail way and other shares are all firm , and , with stocks , arc all likely to nnpro > o , now that- ' there is a cessation of alarm in Iwirope . At present the source of uneasiness is the chango m the Government which seems impending ; not that the Perby Ministry will-be repotted , but c > ery change seems to increase the difficulties ot currying on the affairs of the State successfully . ' . . The Money xna ? k « t is unaltered . Money is to . uo had in abundance at Bank ratesand not bo lowt ho m .
, Some bills , but not many , are earned to tlio Ajanfc . for discount . - To-day the Exchangee -gpnornllj « opo more favourable to this oountry , which Bencsia allay the little apprehension some persons fool oro the largo exportation of silver to tho East , 4 op theso apprehensions there is no good ground wlintoyc , lor . go . cl is continually coming in . Tho Bank has ft hug stock , and no less tlmn * 1 , 000 , 0001 w known to Jb on its way , and likely to arrive boforo tlio owl oi May , A further riee , however , has taken pl « jo w tho price of silver , caused by the elomnm or ho Bast . This is rather a proof of the « 1 ' P f , n modisilver than the depreciation of'gold . It » 1 nmo « uiinoumos oi
atoly caused by the financial « - — Indirf Government , vMcU . requires a groat tloal moro to curry on its aflairs , wind up tho expense oU J war , & c ., and * a precluded by Its own roa «» from employing anything but Mvovtot tho pu I * w Honce tlxero is a great temporary domund foj it India , which raises its price in relation to goW *™
-
-
Citation
-
Leader (1850-1860), March 26, 1859, page 26, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/cld_26031859/page/26/
-