PREFAC E. 



THE year 1877 witnessed the culmination of many very important events, 

 and perhaps the commencement of others which may, in a still greater degree, 

 involve the welfare of mankind. The war between Russia and Turkey closed 

 with the defeat of the latter, causing Europe to be extremely agitated lest the 

 great military position of Constantinople should come into the hands of the 

 conqueror. 



The election of the President of the United States was determined in peace, 

 although it awakened in many quarters fearful anticipations of the future. The 

 strife of principles, the seething of opinions, the struggles of interests, and the 

 aims and efforts of noble and ignoble passions, and the industries of mankind 

 during the year, are fully portrayed in these pages. 



The great conflict in Europe has involved the highest diplomacy of the age, 

 and the latest improvements in military skill and science, all of which are set 

 forth in the article " Turkey," and in those treating of " Ordnance," " Tor- 

 pedoes," etc. Nor is the ever-recurring "Eastern Question" overlooked, with 

 its complications. 



A survey of the commerce of the civilized world is given in " International 

 Commerce," and the intermingling and ever-flowing streams of all nations, the 

 swelling volumes and the ebbs, with the causes of the rise and depression of each. 



The " Currency," a great question before the public of the United States, 

 with its varying standards, was discussed in Congress, in conventions, in books 

 and reports, all of which is so presented as to illustrate the principles involved 

 and present the facts on which they rest. 



In the United States the " Electoral Commission " peacefully took the place 

 of Congress in determining who should be President ; and the quiet of the coun- 

 try was undisturbed except by the conflicts between labor and capital, which led 

 to fearful, and in some places destructive, "Labor-strikes." Meanwhile the civil 

 governments in all the Southern States were entirely abandoned by the Federal 

 Government to the care and reconstruction of their own citizens, whether black 

 or white. 



The details of American affairs in these pages embrace the speeches and pro- 

 ceedings of the Electoral Commission and of Congress on important subjects ; 

 the administration of the Federal Government ; its army and navy ; its finances 

 and their relation to the resumption of specie payments ; the results of its sys- 



