16 March 1867. N. 1229.

The Economist, 16. März 1867. S. 296.
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Emigration from Ireland (Communicated by Leslie)

Die figures der numerischen Reduction der population seit 1848 fail to show the real change, as they do not show what the natural increase would have been. Nevertheless, agricultural wages throughout the greater part of Ireland are still under 6sh. a week, deducting Sundays and holidays; in America the rate is 7 dollars a week, and even more in the Eastern states. Where skilled labour (in Ireland) dearest, it is so only because it is so only seldom employed, and hardly to be had. The price of common labour, on the other hand, is still below a shilling a day throughout the year; having risen in some counties from 8 to 9d. for a day’s work to a shilling, with more constant employment it is true. A rise to this extent, it is very clear, will not stop emigration … It is material to observe that these additions ⦗von food etc zu money wages⦘ are most common, and on the most liberal scale, where emigration has not reduced the number of the labouring population; and, in the second place, that while such allowances are far from being general throughout the island, a great rise of prices must be set off against the rise in money wages. In 1848, the cost of the Irish constabulary was estimated at 35l. 2s. 6d. a man; 1866 the Commission rated it at 51l. 16s. 4d.; a rise of nearly 50%, and prices have risen since then. In many parts of Ireland, the labourer earns 6sh. a week, where his father, or he himself in his youth, earned only 4; but potatoes were then at 2d. a stone, where they are now above 4d; meat was 3d. a pound, where now it is 7d. or more; the labourer’s clothing 10 years ago was from 50 to 100% cheaper than now; and his whiskey was both cheaper and better. His tea alone is considerably cheaper. He can, indeed, now live upon Indian meal, but his diet on that costs a good deal more than it formerly did on potatoes, and he does not like it so well. What is more to the point, he would not have to live upon Indian meal in America. Were it not for remittances from friends in America, it is certain that a great number of the peasants would be little better off than before the famine; I know cases in several counties where a labourer is positively worse off than he was then; that is to say, he earns now just what he did then – a shilling a day; for his employer can give no more on account of the scarcity of labour or the dearness of food. … It has been suggested that increased payments for labour may be met on the part of producers by increased charges on commodities, and that a higher cost of production must result in higher prices for the articles produced. Erstens Foreign Competition checks this, und: The limit to expenditure is fixed by the means of the buyer, not by the needs of the seller; and consumers are not enabled to pay more for commodities by having to pay more for services. In the case of commodities, as in that of labour, the equation of demand and supply at a higher price involves, if other things are unaltered, a diminution of both demand and supply – a decrease in the number both of the buyers and of the articles sold.

The Economist, 16. März 1867. S. 309.
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Manufacturing Markets.

Manchester. March 14. Wieder very dull week for all kinds of goods and yarns; stocks, consequently, have accumulated, and are pressing on the market with more severity than hitherto. Prices are, therefore, regulated, pretty much by the position of sellers, and when these are anxious to realise, low rates must be accepted; prices, consequently, are very irregular. Several failures of manufacturers show the unprofitable nature of the trade at the present time.

Birmingham: No improvement in the trade of this town; the country orders are small for hardware goods generally; as a rule, those given out by the factors are not more than 2/3 what they usually are at this season. Such slackness as now prevails has not been experienced here for a 12 12 years.

11) Manufacturing Markets

  • (1866) (p. 77) und 1867 119, 121. 123. 124. 125. 126. 127.


  • London. 1868.
  • 1866 „The Economist“ (Jahrgang 1866) vol. XXIV.
  • The Social Economist, 1. Oktober 1868
  • „The Economist“ (Jahrgang 1866) (Fortsetzung)
  • Jahrgang 1867.
  • Register der obigen Auszüge aus dem Economist für 1866 und 1867.
  • The „Money Market Review“. Jahrgang 1866.
  • The Money Market Review. Jahrgang 1867.
  • Register Money Market Review Jahrgänge 1866 und 1867