According to the test of railway receipts for conveyance of minerals and goods, the killing process seems very slow indeed, and it is not even sure, because in 1885 the railway receipts for minerals were in some instances reduced. The average receipts for minerals were about 2¼ per cent. less on the average of the past two years as compared with those of the previous three years. In the case of goods traffic this percentage was only 0·82 per cent. But, as against the above average receipts for 1884 and 1885, let us place the average for the preceding nine years. For minerals, £14,398,012; for goods, £19,635,080, which shows an increased receipt on the average of the past two years--on minerals of £989,431; on goods of £995,986. Certainly these results are the reverse of decay in traffic or trade. Another and better test is the tonnage of minerals and goods conveyed on the railways of the United Kingdom for the like period. Years. Minerals. Goods. Tons. Tons. 1875 to 1877, average 141,910,505 64,094,565 1878 ” 1880 ” 152,528,097 65,548,450 1881 ” 1883 ” 182,310,041 74,204,559 1884 ” 1885 ” 183,696,151 74,612,020 This test contradicts the theory of decaying trade in an unmistakable manner, but it may be urged that these averages are insufficient to show the great depression in 1885. The fact is, that in 1885 there was a larger tonnage of minerals conveyed than in any year, with the exception of 1883, and a larger tonnage of goods than in any year except 1882, 1883 and 1884. But a third test, that of production, may be applied. In 1884, the quantity of coal raised in the United Kingdom was 160,758,000 tons. and in 1885 159,351,000 ” ----------------- Decrease 1,407,000 tons. or about ·88 per cent. In 1884 the tonnage of iron ore raised was 16,138,000 tons, And Iron Ore imported 2,730,800 ” ----------------- 18,868,800 tons. In 1885, 15,418,000 tons of Iron Ore were raised Add 2,822,600 ” imported. ---------- 18,240,600 ” being a decrease of 628,200 tons, or a decrease of 3·33 per cent. In 1883, the quantity of pig iron produced in Great Britain was 8,529,000 tons. ” 1884 7,812,000 ” ” 1885 7,415,000 ” The fact is, that 1883 was an exceptional year. The tonnage of minerals conveyed by railway in 1883 was 8,075,101 tons greater than in 1882, 13,451,612 tons greater than in 1881, and 23,815,308 tons greater than in 1880.