[Manchester,] 29 September 1853 

Dear Marx, 

Herewith the article on the Turkish armies.* If you tell me what 
you are sending tomorrow on the srrikesin Lancashire and the 
STATE OF TRADE,*” I shall be able to link on to that and let you have a 
further report on these matters by Tuesday.?*° The local 
MANUFACTURERS and MERCHANTS are at great pains to convince one 
another that things are not too bad, and the Guardian does what it 
can, but it’s ALL SHAM AND HUMBUG. Since last week ordinary yarns are 
down by between '/4d and */sd per pound, i.e. at 9d a fall in value 
of 3-4'/5%, at 8d of 3-6%, at 7d of 4-7%; in the same period 
cotton fell by about '/s. Stocks are accumulating and the HOME TRADE 
DEMAND is also falling off. There has been such frightful overspecu- 
lation in the Australian trade that 80,000 barrels of American 
flour were reconsigned to this country from Australia at a freight 
charge of 8/- per barrel. In 4 weeks’ time the Australian crash 
should be well under- way. All that the ‘good news’ from India 
amounts to is that the rise in prices over there and the fall in 
prices here added together still leave a loss on exports to that 
market. Nothing is flourishing save rrape with America and 
speculation in corn. In Upbridge, 80/- per quarter is already being 
paid for first quality wheat. Corn LOOKING UP, YARN LOOKING Down, and 
the Turkish rot IN THE FAIREST POSSIBLE WAY OF BORING OUR MERCHANTS ALL 
WINTER OVER, 

MANUFACTURED Goons are also coming down smartly, and here 
stocks are far more catastrophic than in the case of yarn. The 
manufacturers’ decision to stop work thus kills two birds with one 
stone: 1. it disarms the workers, 2. it cuts down production. The 
fellows in Preston are sure to receive a general vote of thanks, if 
not compensation.*"' In Ashton, Stalybridge and Glossop, the 
manufacturers are also considering a stoppage, and some here as 
well. However there is a snag to it, namely that it only benefits 
those who don’t stop, and only harms those who do. 

If Borchardt is to be believed, Lupus has some prospect of 

a F. Engels, ‘The Russians in Turkey’. - b 4 October 

obtaining a post as corresponding clerk. The old gent is studying 
Russian and the like and is as enthusiastic as ever over the Turkish 
question, of which I wish him joy. 

My regards to your wife and children. 

Your 

What do you think of Jacobi’s melancholic and virtuous views 
about the end of the world?’