Manchester, Monday, 29 November 1852 

Dear Marx, 

I’ve been toiling over the enclosed article* until one o’clock in 
the morning, but another post goes at 9 a.m. I'll try it as an 
experiment and see whether you get it in time for the steamer 
(Tuesday evening per first mau. to Liverpool); if not, you’ll have to 
send it by Friday’s steamer. 

Tomorrow I have to go out of town. If I'm back early enough I 
shall send you some money. 

Shall I be getting an article on England for the Tribune soon? I 
am now able to work again. 

Cobden seems to have been disappointed in the ministerial hopes 

a See this volume, p. 239.-> It looks as though they have been trying to 
hoodwink us after all. - © A pun on Schultz—the name and Polizeischulz—a police 
official. - 4 F. Engels, ‘The Late Trial at Cologne’. 

he had pinned on Graham and Russell; the latter would appear 
to be giving him the cold shoulder. I can see no other explanation for 
his rage on Friday.* Not since 1844 has the fellow spoken with such 
fury. HE Is a DISAPPOINTED DEMAGOGUE AGAIN for as long as this continues. 
By the way, it’s a good thing the Tories were in a majority, for now 
we shall get to hear about Disraeli’s budget after all.°”* If the chap’s 
knowledge and intelligence were greater and his cunning and 
thieving propensities less, nothing would be easier than to arrange a 
FREE TRADE BUDGET for the FREE TRADERS that would make them see stars. If 
only the fellows hold out until the crisis comes! We are décidément in 
Excitement. Although even this is still going very piano piano But no 
matter. The six pages of joint-stock prospectuses in today’s Daily 
News—on the strength of which it thinks to outshine The Times—are 
bound to have an effect, likewise the 50-80 or so foreign railway, 
gold mining, steamship, etc., etc., companies. Inevitably this will 
create a taste ‘for more’. Fortunately the only circumstance which 
might have brought over-production in the cotton industry to a 
premature end has now been eliminated; the new crop will be far in 
excess of 3 million bales, i.e. the biggest there has ever been, and cotton 
is again going down; so there'll be no shortage of raw material. Only 
let the corn harvest fail next year and we shall see a merry dance. 
But unless it does so, it 1s difficult to say whether anything decisive 
will happen as early as next year, given the abnormal conditions, 
given the mushroom growth of the markets in Australia and 
California where, as there are hardly any women and children, 
one individual consumes perhaps four times as much as elsewhere 
and gold is freely squandered in the towns, given the new market 
which the Calcutta houses are already exploiting in Burma, given 
the way Bombay and Karachi are expanding their trade with 
North-East India and the adjacent territories (particularly so in the 
case of the latter), etc. 

Your 
F. E.