436 EEPOET— 1880. 



(664) Lucr, W. C. Notes on the Extension of the Boulder-clay over 

 the Great and Little Orme, and the Cementing together by Lime of some 

 large Boulders in the Clay near the Little Orme. GeoJ. Mag. vol. x. 

 p. 341. 



(665) Mackintosh, D. Observations on the more remarkable Boulders 

 of the North-west of England and the Welsh Borders. Quart. Journ. 

 GeoJ. Soc. vol. xxix. p. 351. 



(666) PuRTON, Rev. "W. The Geology of Cader Idris and the Arrans. 

 (Severn Valley Field Club, July 3, 1873.) Local Newspaper. 



(667) Thomas, J. E. Prize Essay upon the Mineral Resources of the 

 Counties of Flint and Denbigh, with Suggestions for their Development. 

 Pp. iv. 41. 8vo. Oswestiij. 



On the recent Revival in Trade. By Stephen Bourne, F.S.S. 



[A communication ordered by the General Committee to be printed in extmso.'] 



The latest issued official accounts of the foreign and colonial trade of the 

 United Kingdom, together with those of the several preceding months, 

 bear testimony to a very considerable increase in the quantity and value 

 of both imports and exports. The figures in which these are set forth 

 have been received as evidence that a real revival of trade has set in, and 

 is about to extend beyond the bounds which have been reached in former 

 years. Such an analysis of these figures as may serve to indicate their 

 real bearing on the welfare of the country — both present and future — will 

 not, therefore, be uninteresting, either to those engaged in trade or manu- 

 facture; nor to those who are any way concerned to understand the 

 jDOsition in which we stand, or that to which we may look forward. 



It was during the sitting of the Bi'itish Association in the manufactur- 

 ing town of Sheffield last year, that the first gleams of returning prosperity 

 were distinctly seen. There had been for some months previously more fre- 

 quent appearances of ' paper ' in the London Money Market, of American 

 origin, which were taken as indications that there was a stir in American 

 trade ; and many proofs that the depression into which trade on the other side 

 of the Atlantic had fallen was passing away. Not a few hopes were expressed 

 that this country would in like manner emerge from the depth into which 

 its trade had fallen, so soon as prosperity was again brightening the pros- 

 pects of the United States. The receipt, therefore, of orders for various de- 

 scriptions of our iron products — and especially for rails — was immediately 

 viewed as a precursor to manufacturing activity. Nor was the expectation 

 unwarranted by the results. A spirit of confidence at once sprung up, 

 and prices rose so high as to show that in addition to that which had a 

 sound basis, much speculative business was going on. Thus a stimulus 

 was given to production. Higher prices were asked and given, and for a 

 time there seemed to be no lack of buoyancy in almost every market. 

 Prices again gave way, but are now being partially recovered, and the 

 opinion is almost universally entertained that a new era of prosperity is 

 being entered upon. Such being the case it may be worth while to com- 

 pare a year's transactions with those of the preceding one. The early 

 date at which the monthly accounts are now issued from the Custom 

 House gives us the means of takmg for such comparison the twelvemonth 



