most meat products and provisions.[1] Such a demand at extraordinary prices for crops, beyond the average in quantity and quality, brought temporary prosperity to American producers, and induced great industrial and commercial activity throughout the United States; and although the crops of other countries were notably far below the average, yet the great advance in prices undoubtedly went far to alleviate the distress of the foreign agriculturist, even if it did not in some cases actually better his condition, and increase his purchasing power of other than food-products. The extent to which the American producer availed himself of his increased purchasing power during the years under consideration is indicated by the increase which occurred in the importation of foreign merchandise on the part of the United States, namely, from $437,051,000 in 1878 to $667,954,000 in 1880, and $722,639,000 in 1882. Such an increase represented payment in part for American exports ($110,575,000 in gold and silver being imported in addition in 1881), and a corresponding demand for the products of foreign industries—the special effect on British industry being characterized by a statement from one of the witnesses before the Royal Commission (a representative of one of the districts of Liverpool), that "the depression continued until 1880, when there occurred an American boom, which temporarily lifted prices and induced activity." The testimony of other witnesses was, however, to the effect that in many branches of British industry there was no improvement of condition either in 1878, 1880, or in any subsequent year; the Commission itself reporting (in December, 1886) that there was a general agreement among those whom it consulted, that the depression under consideration, "so far as Great Britain was concerned, dates from about the year 1875, and, with the exception of a short period enjoyed by certain branches of trade in the years 1880 to 1883, it has proceeded with tolerable uniformity, and has affected the trade and industry of the country generally, especially those branches connected with agriculture." The Commission further reports that the information received by them leads to the conclusion that "in Belgium, France, Russia, Scandinavia, Spain, and the United States," the depression has been "almost identical in its leading features with that existing in the United Kingdom."
In Germany and Belgium the reaction experienced in 1879, it is admitted, did not extend beyond 1882.
In France the condition of agricultural and other laborers continued so deplorable that the French Chamber of Deputies appointed a special commission of inquiry in 1884 with a view to devising measures for re-
- ↑ No. 1 spring wheat, which commanded $1.05 per bushel in the New York market on the 1st January, 1878, was quoted at $1.60 at a corresponding date in 1879; and at $1.39 in 1881. The corresponding advance in corn was from 45 cents per bushel in 1878 to 63 cents in 1879, and 70 cents in 1881; while the advance in mess-pork was from $7.05 per barrel in 1878 to $12.6212 in 1879, and $17 in 1881.
