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Hungarians, and Germans, who in the main compose this great empire, into a single power, possessing sufficient homogeneity or adhesiveness to work out the various political, industrial, and social problems which come up in rapid succession for solution in this country.

The greatest national danger at present threatening this empire is, however, the enormous expense attending the armed peace which the government is compelled to maintain, at an annual cost of over $50,000,000. In order to sustain this tremendous burden, every ingenuity is exhausted to procure the necessary revenue, and yet the annual deficit amounts to over $32,000,000, which naturally goes to augment the present large public debt of the empire, and to handicap still more heavily the industries of the coming generation. This burden is par ticularly felt now at a moment when foreign competition threatens the prosperity of their domestic industry and trade. Enormous capital seeking employment, aided by telegraph and steam, has completely transformed the question of transportation, and also of necessity at the same time that of production, so that the producers of wheat in the large fertile plains of Hungary are compelled to practice the cheapest methods of wheat and cattle raising, and the manufacturers of Austria must exercise an energy, perfection, and economy, heretofore unknown, if they do not surrender the markets of the world to those who, favored by more fortunate circumstances, are able to produce an equally good article at a less price. As the three elements of material, labor, and transportation determine or should determine the price of every article, it is plain that any nations which is taxed in time of peace with an annual outlay of $50,000,000, and a levy of nearly 300,000 of its finest young men for purposes of military defense must find itself almost fatally handicapped in the race with other nations comparatively free from these impeding weights.

In many products this country is very abundant. Hungary possesses rich, producing soil, and Austria mountains of iron, coal, and other valuable metals and minerals, and forests filled with trees of every description; labor also is abundant and fairly skilled, consequently relatively cheap; but the cheapest clothing and the poorest fare are taxed, houserent, trade, income, in fact every act and breath of life is taxed to support a soldier, so that the advantage gained in material and wages is counterbalanced and more than counterbalanced by taxes. But doubtless the greatest disparity between Austria-Hungary and the United States is seen in the question of transportation, otherwise the competi tion experienced here in grain, meat, and petroleum would not be so great. This disparity is seen alike in every description of freights, whether railway or steamer, since it costs more to lay down in England and France a ton of grain or bacon from Trieste than from New York, and more to transport a barrel of petroleum from Galicia to Trieste than from New York to Trieste. Austria and Europe possess grand trunk lines and through freights, but they cannot be compared in cheapness with those of the United States, and on this one fact, perhaps, more than all others, depends the wonderful success attending American trade.

However, the trade of Austria is fairly prosperous, her exports surpass her imports every year with large and more favorable balances. Her products and manufactures increase also in magnitude, the letters and telegrams sent in 1880 surpassed the number in 1879, showing greater commercial activity, but the dividends of the various industrial commercial, and transportation companies diminish from year to year. so that the whole conflict may be denominated one of margins. But the decrease of dividends is not confined to this empire, but has become the

rule the world over. Proof of this, if needed, is found in the effort made at present in Austria to introduce foreign capital. During the past year the Lander Bank, with a capital of 40,000,000 francs, has been opened in this city with French capital, and in addition to the city gas-works, the General Omnibus Company, and General Transportation Company are now carried on by English capital, and even some of the gold mines of the Tyrol are operated by American capital, and negotiations are in progress for certain of those in Bohemia.

It should not be inferred from what precedes that Austria is not keenly alive to the situation. On the contrary, the central government, corporations, societies, and individual capitalists are neglecting no element of the problem how to meet foreign competition. Unfortunately, sometimes unfair methods are employed and disparagement and prohibition are resorted to, but more generally it takes the form of a renewed effort to so diminish the cost of an article and so enhance its finish and utility and furnish the means of placing it on the distant markets of the world that when driven from one market they may be able to enter another. During the past and present year special efforts have been made in this direction. Agents have been selected by a union formed of manufacturers and exporters, and sent with a selected stock of goods to various ports in the East Indies, Russia, Australia, Persia, and Africa, which have not been without success. It will therefore be seen by our American manufacturers that the introduction of their goods on the Austrian markets, with the exception of certain specialties, in which there can be no competition here, on account of their construction or model, will require great patience and serious consideration. During the present year many efforts have failed, either through thoughtlessness or criminal neglect. Articles badly selected or so badly packed that their condition rendered them unsalable had to be returned, while others had to be disposed of at a serious loss, so that it is very questionable if the new year 1882 will open up as hopefully as did the last to those striving to place American manufactured articles on the markets of Austria-Hungary.

JAMES RILEY WEAVER.

UNITED STATES CONSULATE-GENERAL,

Vienna, November 28, 1881.

TABLE A.—Statement showing the imports into the Empire of Austria-Hungary for the year ending December 31, 1880.

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TABLE B.-Statement showing the exports from the Empire of Austria-Hungary for the year ending December 31, 1880-Continued.

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TABLE C.-Statement showing the value of declared exports from the consular districts of Austria-Hungary (agencies included) to the United States of America during the year ending September 30, 1881.

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The average value of the Austrian paper florin during the year was 41,3 cents.

ABLE D.—Statement showing the nationality, number, and tonnage of sea-going vessels entered at and cleared from the ports of Austria during the year 1879.

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TABLE D.-Statement showing the nationality, number, &c.-Continued.

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tonnage of sea-going vessels

TABLE E.-Statement showing the nationality, number, and
arrived at and cleared from the port of Trieste during the year 1880.

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