re sent abroad, while the United States received nearly
one-tenth and eastern Asia little more than one-twentieth. By 1880
Europe was taking less than one-twelfth, the United States less than
one-fiftieth, and eastern Asia more than a half."

Naturally a trade tends to find out the most direct means of
distribution, and Manchester merchants are now generally in direct
connexion with native dealers in India. Bombay was the pioneer in the
custom, followed now by Calcutta and Karachi, by which deliveries of
goods from British merchants remained under the control of the banks
until the native dealers took them up. Manchester business with India,
China, &c., is done under various conditions, however, and a good many
firms have branches abroad. The regular "indent" by which most of the
Manchester Eastern business is conducted now implies a definite offer
for shipment from the dealer abroad, either direct or through the
exporter's agents, and commonly includes freight and insurance. The term
"commission agent" is now discredited, and buying done by Manchester
houses on simple commission terms is unusual though not unknown. This
has been so since the famous law case of _Williamson_ v. _Barbour_ in
1877, when it was established that whatever might be the custom of the
trade a commission agent was not entitled to make a profit over his
commission on the various processes, such as handling and packing, which
are a necessary part of the exporter's work. A good deal of business is
done, however, for South America and other markets in which the goods
are bought for delivery in the Manchester warehouse, all charges for
packing, &c., and carriage being extra.

Transactions with distant markets are now done almost entirely by cable,
and a remarkable development of the telegraphic code has enabled
merchants to pack a good deal into a brief message. A cable sent to
India in the evening may bring a reply next morning, and in these days
of rapid cotton fluctuations mail advices are confined mainly to general
discussion, hypothetical inquiry, advice, admonition and complaint. Some
Manchester export business is done through London, Glasgow, and
continental towns, of which Hamburg is the principal. Glasgow buys
largely of yarns and cloth, some considerable part of which is dyed or
printed, for India and elsewhere, and has an indigenous manufacture and
trade in fine goods such as book-muslins and lappets, a somewhat
delicate department of manu