The flourishing state of trade eontinues to be the theme
of jubi- lation on all hands, except with a few melancholy prophets whose attention is concentrated upon " the next crash." Those pleasant companions are never wanting. Somehow or other, the crash which was to have happened a year or two ago has not yet come. A slight depression which was noticed a few weeks back was the end of the world to these Latter Day Saints ; but the spring trade is going on in full vigour ; and if the Board of Trade returns show an increase from some 16,000,000/. of exports to 20,000,000/. in the first quarter of this year, there is little doubt that the trade of the season is but now " opening." Such has been the commercial preface to that portion of Mr. Gladstone's scheme which is now about to be transferred from the Parliament House in Westmin- ster to the Stock Exchange in Cornhill, and thus extended to the Exchanges of Manchester, Liverpool, and Glasgow. The commu- tation of stocks is a promising experiment, and the time is ex- ceedingly favourable. The experiment will be watched with more interest, since, as everybody knows, should it succeed, Mr. Glad- stone may carry the experience back into Parliament in support of his request for extended powers.
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