Excerpt from The Resources of Modern Countries, Vol. 1 of 2: Essays Towards an Estimate of the Economic, Position of Nations and British Trade Prospects
With the exception of the chapters on China and Japan, and on Turkey and Egypt, and also part of the chapter on our Minor Possessions, the following essays were in substance printed in 'Fraser's Magazine.' They have been revised throughout, however, and much new matter added, with a view to bring them as near as possible to the present date.
When these essays began to appear in the autumn of 1876 this country was hoping that the end of the period of trade depression was at hand. That this hope has hitherto been unrealised is by many believed to be in part due to the feverish state of mind into which all Europe has been thrown by the war between Russia and Turkey. Under the influence of the fears engendered by that war, trade has certainly gone from bad to worse, and the strain upon this country's mercantile resources has been very great.
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