The Daily Mail of Wednesday publishes a telegram from its
Berlin correspondent giving some very curious facts as to the serious nature of the depression of trade that is sweeping over Germany. According to the correspondent, the mort- gage banks are in a bad way, as is also the electrical industry. The iron trade is very slack, "the wool-spinning trade is almost ruined," the cities are fall of men out of work, and "the calamity is so great that the magistrates have arranged for public works to employ the men." Making every allowance for exaggeration, we cannot doubt that Germany, as some four months ago we ventured to say she soon would, is entering upon a period of bad trade. We shall now be able to see whether her Protective system will enable her to stand a lean year or years as well as our Free-trade system has enabled us to face periods of depression.
