London, February 16. The latest news from India is important because it describes the deplorable state of business in Calcutta and Bombay. In the manufacturing districts the crisis is slowly but surely advancing. The owners of spinning-mills of fine yarn in Manchester decided at a meeting held the day before yesterday only to open their factories four days a week from February 26 and in the meantime to call on the manufacturers in the surrounding area to follow their example. In the factories in Blackburn, Preston and Bolton notice has already been given to the workers that there will henceforth only be short time. The fact that in the past year many manufacturers have tried to force the markets by circumventing the commission-houses and taking their export business into their own hands means that bankruptcies will be all the larger in number and in size. The Manchester Guardian admitted last Wednesday that there was overproduction not only of manufactured goods but also of factories. Marked with the sign 
Karl Marx in The New-York Tribune 1853