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>iA't? ! /t! ^ ?i! o f/i sin" " .-•- - ¦...
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* Mr O -orgJ !!- •« vaUsd the goM in cir...
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by the law which has substituted " paper...
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ftffilft Mttthm.
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ANTI-GOLD-LAW LEAGUE. On Monday a public...
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THE FREE TRADE CONGRESS AT BRUSSELS . (F...
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STATE OF. ' 'THE MONEY : AND MANU' FACTU...
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On Wednesday the pressure in the money m...
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ite&ets:
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CORN, &c.. Coastwise up to our market, l...
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Total l . H?- 5,119 131 203 16 SM1THPIEL...
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Printed }y DOUGALM'GOVT AN, of lfi, Great Windmill, street, llaymarkot, in the City of Westminster, at tha
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Office, iri tho same Street ana I'ansn, ...
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Transcript
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Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.
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« Nine And A Half Millions New. T See Tb...
unduid silver , leaves not a shadow-Of doubt on the rabjubject . I Bat what brings home the effects to ah excess in tthethe emission of paper , and its consequent depreciatt . oit . Gn more conclusively if possible , is their having marhappened precisely in the time , the degree and the rmamanner tbat mi ght have been expected . ! Supposing the whole of the specie to have samamounted to fifty millions * in February , 1797 . The itinBist emission of paper , to the amount of these fifty mimillions , coald have had no other effect than to ; foiforce the specie ont of circulation , and to take its phplace . Thus fir the minister would have had tbe laii aid of fifty millions by this operation , which the
pi public seem never to have thought of , and the nation wi would have exchanged a sterling , solid machine , in indispensably necessary for circulating its transferal able property with security , for a paper machinery of of no intrinsic value , and as such utterly unsafe ai and unfit to be the measureof property . As by this st substitution , the amount ot the circulating medium in in use , would remain the same , the first emission , as as far as these fifty millions of paper , could not have dexperienced any depreciation ; accordingly it was nt not until about the beginning of 1798 that the ef effects of this depreciation began to be felt . The fufunds , which in February , 1797 , were at fifty-three ,
fofollowed the tegular natural course that might have Ik been expected , and gradually sunk ; specie was growining more scarce ; but when the emission of paper hi had passed the point of mere substitution for the fifty n millions of specie , the depreciation began to make it its appearance ; The funds which bad sunk to forty-» seven in the beginning 1798 , gradually rose after ei eight years of the most expensive war ever recorded , t < to sixty-seven ; gold was at a higher premium , and a all sorts of commodities experienced a similar rise ; a all exhibiting additional proofs of excess and deprec elation , by the time , the degree , and tbe manner in i which they made their appearance ; while from the i nature of the disease it must go on increasing , like
t tbe pernicious habit of dram drinking ,. every excess 1 leads to a greater : the more paper that is issued , 1 the less is its value ; where as in a dropsy , perpetual i thirst , perpetual repletion , xhe patient goes on till 1 he bursts . At a moment when there cannot remain a shadow < of doubt , that these indacemente , these violent ] propensities , arising from interest and necessity in i ah" descriptions of persons ,- from the government < down to the lowest trader , have operated this ruil sous excess and depreciation in the circulating mei diara ; when it is found that this aptitude in the whob * nation to fall into this ruinous excess has had iits effectare the peopleof England rightly informed
, ( of the real situation they stand in ? Was there ever j a ministry whose genius or talents were less adet quate to the great crisis at which these were chosen ? 3 Have these men who have great stakes in the connj try reflected on the nature of the mine that has 1 been worked under their feet , by which their pro-I perty is hourly menaced with total subversion ? ] Have the saber , thinking men of Great Britain iweighed the extent of the bankruptcy into which 1 the nation is sinking ; a bankruptcy that must cx-1 tend to every crevice where circulation can enter ?
The direct effect of a depreciated paper circulattion is too evident to need much explanation . The : revolution in fortunes is obvious ; all property ' which was sterling becomes liquidated at a half , a fifth , or a tenthf of lis original value , according to the decree of depreciation the paper currency shall have attained . Tbe public creditors who lent their sterling property , on the faith of the nation , instead of the full stipulated interest for which they conditioned , receive bnt a half , a fifth , or a tenth , as the evil advances . The rents of lands aad of houses
experience a like diminution ; the revenue as it swells in bulk , sinks in value ; while the loans in a depreciated currency reduce the stocks to waste paper , and hurries on the accumulation of debt at a rate which insures a national bankruptcy by geometrical acceleration ; effecting a revolution in the whole state ef property ; where the swindler , the spendthrift , and the desperate adventurer gain a temporary relief ; and the industrious and prudent , whose frugality has accumulated tbat sacred fund to which Great Britain owes her wealth and her greatness , are plunged into the depth of adversity . ¦ - These are the effects that have ever attended a
depreciated paper medium ; and in proportion to the extent and activity of the wealth and industry of Enftod , in proportion the effects must be dreadful ; hut as a manufacturing nation , depreciation in the circulating medium is peculiarly fatal . Wages aud the price of raw materials augment with the depreciation , as do provisions , lodgings , and every necessary . The capitalist , who advances these extravagant prices for the materials , and those- increased wages , can have no interest to engage his capital ia employing tradesmen , if he does not -get a proportionate price-for the manufactures ; as the depreciation in the circulating medium increases , so must the price of the manufactures .
The greatest wnter on political economy assigns tfae depreciation of specie is Spain as one of the principal reasons why she is so little of a manufacturing nation . Specie is of mere value is the rest of Europe and of less in Spain ; but this depreciation is nothing in comparison with this paper depreciation which exists in England , with the still greater which must inevitably follow . With all her advantages , and she has many , how is it possible she can continue to undersell those nations where gold and silver continue to be the sober , solid , sterling measure of property ? How shall she prevent ,
by and by , other nations , with this single advantage , fr om , underselling her in . her own market ? Of all the means that could be devised to destroy a manufactur ng nation , adulteration in her circulating medium is the most efficacious ; for this plain reason , that let the manufacturers have been brought to the highest pitch of perfection . ; let them have every other advantage , once that the circulating medium has suffered a considerable depreciation , no man can continue to employ his capital in manufactures , who will not submit to the loss of the whole -of his profits and a part of his stock .
If the prospect in looking forward is frightful , that which presents itself in locking back is not less dreadful . Let us suppose for a moment the resolution taken to go back to the solid basis of gold and silver , and that all obligations in paper were again subject to the good old law of paying in specie . What a chaos ! What an Augean stable I ! All the debts that have been contracted , all the bargains that have been made , all the contracts that have been engaged for , all sorts of business that have been transacied by the standard of depreciated medium , at a third , a fifth or a tenth of the sterling value , to be paid with gold or silver ; tbat is to pay three , five , or ten times more than the value which had been given , while fifty millions of the active capital of ths nation must be sunk to purchase gold and silver to replace that which was forced away by the paper emission .
It is obvious , that the first effect of such a resolu- j tion to return to the standard of specie , would be , as on every like occasion , of which history makes any mention , the total and instant discredit of the wholeof the paper ; so that , as Sir James Stuart observed on a like occasion , ' a man might starve the next day with one hundred millions of paper in his pocket . ' So inveterately ruinous is that solid system of finance of the late minister , whether we look back or forward , presenting difficulties so vast , so complicated , that his successors , perceiving that they have waded so far in ruin , will find it easier to go on than to return .
Here then is the true , the naked exposition of the so ranch vaunted resources and finances of Britain ; here is a detectim of the shifts and frauds of the late minister , whose praises have been sounded by so many venal voices throughout Europe , and reechoed by so many ignorant credulous dupes . Bedaced to his just value we sse him raising sixty-six millions in the four first years of the war , by holding up to the imagination of tbe good peopleof England , a constant succession of the most frightful horrorswhile he himself
pictures of revolutionary , was acting the part of the most active revolutionist in Great Britain ; alarming the rich that they might the more rea-iiiy fill his loans and subscriptions , by settid ' forth that a vast portion of their countrymen were incorrigible Jacobins and revolutionists , wh'Ist plots , assassinations , and insurrections were played off from time to time to keep up the alarm , with all the address , management and stage effect tbst might suit the profession of a charlatan , but for ever disgraceful iu tha minister of a great
. In the nest five vaars ha has made away with 1 / a millions more , by means hitherto unknown in the annals oi Britain ; and which have been so fully explained , as to leave no do ' M of the ruin be has brought on his country . Auer having played slightof-hand with the while specie of England , and havin ^ h ; J the faircliiion for inevitable bankruptcy ,
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* Mr O -Orgj !!- •« Vausd The Gom In Cir...
* Mr O -orgJ !! - vaUsd the goM in circulation before the 20-fl of Fearnsr-, 1 W at £ 13 , 950 , 042 . I have taken tiu ? wh « -ls g .-ld uri-i . ilver at fifty millions . f la Frj- ! ve Ac piprr was at a depreciation of C 5 M liv , for a iouis d ' ur 2 nd in America etiil lower .
By The Law Which Has Substituted " Paper...
by the law which has substituted " paper for gold , profiting by the first run of the new circulating me . dium , he has quitted the ministry at the moment when depreciation began to make its appearance , leaving his successor to struggle with the disgrace of bankruptcy and ruin .
Ftffilft Mttthm.
ftffilft Mttthm .
Anti-Gold-Law League. On Monday A Public...
ANTI-GOLD-LAW LEAGUE . On Monday a public meeting in behalf of the objects of this League was held at the Rose and Crown , Brook-atreet . Brick-lane , Spitalfields . Mr Sobbbit ., solicitor , was called to the chair . MrS . C . Uobbt , barrister , entered into a long detail of the evils consequent upon the working of the present system . He considered that the subject waa more particularly applicable to that portion of London , as thero were so many tradespeople resident in tbe locality , and it was in consequence of thai he had come out with the first of his lectures on the subject in that district . Many causes had been assigned for the present distress . At first it had been attributed to a decrease of food , although
it had been proved that there was an ample sufficiency of food for all the population of the country . Then it was said that the population was too numerous for tbe capabilitiesof the country , and consequently a scheme of emigration waa commenced , a most unjust one , as he thought , as by placing the monetary system onaproperfooting . the country was sufficient to supply all its population . The great defect in the system was the present currency laws , which had the effect not only of lowering the wages of the working man , but of robbing the finances of the country , by giving the foreigner the power to purchase our gold when goods in this country were at a high price , and of purchasing our goods when gold was at a low price . The lecturer then went on to show the depreciation which had taken place in the wages of the working people , as well as in the circulating medium of tfae country , by the adoption
ota gold instead of a paper currency , showing that the loss to the country , occasioned by the drain of our gold by foreigners , amounted to sixty millions of psuhds yearly . He also contrasted the high rate of wages paid during the war , when a paper currency waa recognised as the circulating medium besides that allowed now , and contended that were the gold currency done swat with , and tha paper currency introduced , it would tend not only to benefit the working classes , but the trade of the country generally . In proof of this he instanced the time of the war , when the paper currency was in existence , and when the wages of the working classes were much higher than they were under the present system , and concluded by urging the propriety of returning to tho same medium of circulation as the best means of benefiting tfce finances of the country , and more especially the labouring classes .
Mr WAxarxB attributed the cause of the present distress in the commercial world to the over-specu lation of parties engaged in it , and considered tbat were the working classes more folly represented in Parliament than thay were at present , ao that they could have more power in legislating for themselves , they would be placed on a much better footing , and made independent of the fluctuations of the currency , which had keen so much dwelt on by the lecturer . ( Cheers . ) A rote of thanks was passed to the chairman , and the meeting , which was very numerously attended , then separated .
CO-OPERATIVE LEAGUE . A tea-party'and soiree to promote the objects of thia society , took place on Monday evening , at the Central Hall , King ' s Arms-yard , Snowhill . Mr W . Hewitt in the chair . The room was tolerably well filled , a large number of the company being females , and several speeches were delivered in furtherance of the views of the league , which , in their own words , are to ' supersede selfishness by universality—undue restraint by full individual liberty—antagonism'by peace—competition by brotherly love , and thus a state of existence may arise founded on the principles of wisdom and goodness , yielding its fruit in the happiness of every member of the human family / The following resolutions were adopted : — Ifovedby the Ber A . Bayneg , seconded by Mr Good , wyn Barraby : ' Co-operation a human brotherhood—May tha present disastrous state of the commercial
world , brought abeut by the competitive model of life , lead men to perceive that anarchy and confusion must ba continually recurring where antagonism and individaal interests ara allowed to exist . ' Moved by Mr Jame « son , seconded by Mr Alexander Campbell : 'Monetary reform . May the people speedily exert themselves to devise and adopt a currency that shall possess the quality of being unchangeable in its value , and co-extensive with the exchangeable wealth of tha nation . ' Moved by Mr Walter Cooper , seconded by Mr Roberts : 'Our co-operativa brethren in America and other parts of the world . May the offers recently made by tbe friends of co-operation at Cincinnati be the commencement of a series of exchanges carried on in the spirit of brotherhood between the different nations of tho earth , burying in oblivion ths hostile spirit of rivalry whieh has hitherto existed , and leaving men to recognise tha beautiful privileges of uaiversal love and goodwill . '
- CURRENCY REFORM . Oa Monday evening a meeting , convened by the Currency Association , lately established in Birming ham , was held at Dee ' s Royal Hotel , for the purpose of considering the best course to be pursued to secure the early aad effectual attention of the hew House of Commons to the engrossing question of the currency . Wr 3 . Martineau , the mayor , took the chair . Therehas long existed in Birmingham a hostility to the Currency Bill of 1819 , but on no occasion has it exhibited itself as at this time in a combined form , or by a union of parties , irrespective of political fesiinsr . There were present Mr Munfs , M . P ., and Mr Schelefield , M . P ., members for the borough ; Messrs Newdegateand Spooner , members for the northern division of the county , and others , who spoke to the following resolutions : —
That the existing depression of trade and commerce , as evinced by the numerous failures of houses of undoubted aolvency , is attributable to the restrictive and unbound monetary system established by the acta of 1819 and 18 « , which injuriously interfere with all mercantile engagen eats , renderin *; the same course of action which it at one time prudent and ascuro , at another time entirely raineus . That a ' single deficient harvest wonld have affected materially the great interests of the natwn , had not the evil of scarcity of food been aggravated by an artificial scarcity of money , producing a forced and unnatural depreciation in the values of commodities and other property , aud a sudden and extreme
increase in tho rate of Interest , and leading to the with , drawaiof the usual banking fasiiitiea from parties engaged in certain important branches of trade and commerce , aad ths consequent limitation In the demand for labout . Tbat a monetary system which necessarily breaks dowa under the effects of a limited exportation of gold for the needful supply of food , producing from such cause a general derangement of trade and commerce , and an aaormous depreciation in the values of property and commodities , thus greatly increasing a national misfortune like that of a bad harvest , is vlclsus in principle and destructive in its operatic * to the well being of the community .
That the arguments now being used to mislead the public as to the effects of the expenditure of the money in railway works and other undertakings of a national character , aad to withdraw the attention of the mercantile and trading classes from tha real evils under which they are suffering , are of no value whatever , and can only he takea as an evidence tbat , in the present position of tke country , the monetary meant aro net afforded for the profitable employment and maintenance of the population . That in tha opinion of this meeting , justified by the history of the present century , this country , so long as ita mercantile and trading operations are not limited by unnecessary monetary restrictions , is fully able to bear an expenditure equal to that required for the construction of railway works , inasmuch as that it has borne , wlthoutiajary or derangement , a mnch larger expenditure for carrying oa a protracted war , and for other purposes not iikely to become productive . That the necessary expenditure for making the railways
sanctioned , after mature deliberation , by parliament , has led to tha employment of a vast amount of labour ia various parts of the United Kingdom , and to a consequent demand f « r previsions and unmanufactured articles ; and that no complaints of the pressure of railway calls were made until tbe general business of the nation was sullenly and injuriously affected by the restrictive operations of tha Bank of England , rendered necessary by the provlsioas of tho acts of 1819 and 1841 . That the same restrictive monetary policy has been attended with the same disastrous consequences in former years , when no expenditure for railway purposes was proceeding ; and that , although In certain cases the employment of large amounts ef money for particular objects may lead to some temporary inconvenience , the evils under which ths country is at present suffering can be attributed in only a very trifling degree , if at all , to the railway undertakings now in progress , as those undertakings can but slightly aggravate tha difficulties arising from other and more permanent causes ,
Thatit is the deliberate opinion of this meeting that the executive government will incur a seriaas responsibility unless they at once propose and carry into effect some temporary measure calculated to restore the monetary means aud the credit of tha country to aa efficient state , and thus to relieve tbe commercial and trading classes . The relief and assistance hava been afforded in former periods of extreme national dang « r and difficulty ; and that there has been no occasion during the last fifty years wben such relief was mora Imperatively required than it is at this time . That the demand for labour is rapidly diminishing in the manufacturing districts ; and that it will be extremely dangerous further to neglect those remonstrances which have been already addressed to members of the government , with the view of inducing them to preserve the nation from tho serious evils which would follow the general suspension of em . ployment .
That while measures of a temporary nature are re . quired to remove that most severe distress and suffering which tbepopu'ation are now experiencing , and to avert the more serious consequences with which they are threatened , it is itapartaat that the monetary policy of
Anti-Gold-Law League. On Monday A Public...
tbe country should uadergo a fair and searching inquiry befbra a committee of the House of Commons . That it is recommended by this meeting that immediately oa the assembling of parliament petitions praying for the ap . pointment of * u « h committee should be forwarded from all the principal towns and public bodies in tho united kingdom . That such an inquiry is rendered absolutely necessary now that tha prlucipH ot protection to native industry has been abandoned , and now thatit has become painfully erident that tha interests of all classes , the debtor and creditor alike , can only bs permanently secured by the establishment of a sound monetary system , capable in its operation of sustaining and extending the mercantile and trading transactions of the nathn , and calculated to prevent those extreme and dangerous fluctuation * which ara the natural and inevitable results of the existing SVttem .
That the committee of the Birmingham Currency Reform Association be requested to communicate the forgoing resolutions to her Majesty ' s Ministers , and to forward copies of the same to tbe members of both houses of parliament .
The Free Trade Congress At Brussels . (F...
THE FREE TRADE CONGRESS AT BRUSSELS . ( From our German Correspondent . ) : Oa the 16 th , 17 tb , and 18 th of September , there was held here ( Brussels ) a congress of political economists , manufacturers , tradesmen , 4 c ., t » discuss the question of Free Trade . There were present about ISO members of all nations . There assisted , on the part of . the English Free Traders , Dr Bowring , M . P ., Col . Thompson , M . P ., Mr Ewart , M . P ., Mr Brown , M ; P ., Jonas Wilson , Esq ., editor of the £ « momtjt , & c ; from tfranca had arrived M . Wolowski , professor of jurisprudence ; ii " .
Blanqui , deputy professor of political economy , author of a history of tbat science , and other works ; M . Horace Say , son of tbe celebrated economist ; M . Ch , Dunoyer , member of tbe Privy Council , author of several works upon politics and economy , and others . From Germany there was no Free Trader present / but Holland , Denmark , Italy , 4 c , bad sent representatives . SeaorRampn de la Sagra , of Madrid , intended to some , but came too late , Tha assistance of a whole host of Belgian Free Traders , need hardly be mentioned , it being aVmatter of coarse . . . -.: „ -, *¦> ,. ' .-..
Thus the celebrities of the science hadmetto discuss the important question— . whether Free Trade would benefit tha world ! You will think tho discussions of such a splendid assembly-rdiacussiona carried on > . by economical stars of the first ' magnitude muit— -have been interesting io the highest degree . You will say that men like Dr Bowring , Colonel ; Thompson , Blanqui and Dunoyer , musthave pronounced speeches themoststriking , mast have produced arguments the most convincing , must have represented all questions under a light the most novel and surprising imaginable . Alas ! sir , ifyou bad been present , you would hare been piteously undeceived . Your glorious expectations , your fond illusions would have vanished within less than an hour . I have assisted at Innumerable public meetings and discussions .
I heard the League pour forth their Aatl-Corn-Law , arguments more than a hundred times , while I was in England , but never , I can assure you , never did I hear such dull , tedious , trivial stuff , brought forward with such a degree of self-complacency . I was never before so disappointed . Wnat was carried on did not merit the name of a discuislon—> it was mere pot-house talk . The great sclenting luminaries never ventured themselves upon the field of political economy , in the strict sense of tha word . I shall not repeat to you all the worn-out stuff which was brought forward on the first two days . Read two or three numbers ot the League or tbe Man ' . Chester Guardian , and you will find all that w * s said , except , perhaps , a few specious sentences brought forward by M . Wolowski , which he , however , had stolen from M . Bastiat ' s ( chief of the French Free Traders ) pamphlet of * Sopbismes Economiques . ' Free Traders did not ex . pect to meet with any other opposition but that of M . Kissinghausen , a German Protectionist , and generally an
insipid fellow ; But up got M . Duohateau , a French manufacturer aad Protectionist—a man who spoke for his purse , just as Mr Ewart or Mr Brown spoke for theirs and gave them such a terrible opposition , that on the second day of the discussion , a great number , even of Free Traders , avowed that they had been beaten in argument . They took , however , their revenge at the votethe resolutions passed , of course , almost unanimously . On tbe third day , a question was discussed which in . tercsts your readers . It was this : ' Will the carrying out of universal Free Trade benefit the working classes 1 ' The affirmative was supported by Mr Brown , the South Lancashire Free Trader , in a lengthy speech , in English he and Mr Wilson were the only ones who spoke that language , the remainder all spoke French—Dr Bowring , very well—Colonel Thompjon , tolerably—Mr Ewart , dreadfully . He repeated a part of tbe old League docu . ments , in a whining tone , very much like a-Church-of * England parson . After him got up - . . .
Mr Weebth , of Rhenish Prussia . You know , I believe , thia gentleman—a young tradesman whose poetry is well known and very much liked throughout Germany , and who , during severalyesra' stay in Yorkshire , was an eye . wltB « ss of the condition of the working people . He has a great many friends amongst them there , who will hi glad to see that he has not forgotten thorn . As his speech will be . to your reader * themost interesting feature of tbe whole Congress , I shall report it at some length . He spoke aa follows : — . . ¦•; .., ' « Gentlemen—You are discussing the influence ofFreo Trade upon the condition of the working classes . Ton profess the greatest possible sympathy for thoie classes . I am very glad of it , but yet I am astonished not to sea a
representative of tho working classes amongst you I The monled classes of France ore represented by a-. peerthose of England by several M . P . i—those of Belgium by an ex-minister—and even those of Germany by a . gentle , man who gave us a faithful description of the state of that country . But where , I askyou , are the repreaenta * lives of the working men ! I see tbem nowhere ; and therefore , gentlemen , allow me to take up the defence of their interests . I beg to speak to you on behalf of the woiking people , and { principally on behalf of those five millions of English working men , amongst whom I spent several of the most pleasant years of my life , whom I know and whom I cherish . ( Cheers . ) Indeed , gentle , men , the working people stand in need of some * : enerority . Hitherto they have not been treated like men , but
like beasts of burden , nay—like merchandise , like machines ; the English manufacturers know this so well , that they never say , we employ so many workmen , but so many hands . The moated classes , acting upon this principle , have never hesitated a moment to profit by their service * as long as they require them , and then turn them out upon the streets , as soon as there is no longer any profit to be squeezed out of tbem . Thus tbe condition of these outcasts of modern society has became such , that it cannot ba made worse ; Look wherever you like ; to tho banks of the Rhone ; into the dirty and pestilential lanes of Manchester , Leeds , and Birmingham ; on ths hills of Saxony and Silesia , or tho plains of Westphalia ; everywhere you will meet with the . same pale starvation , the same gloomy despair in the eyes of
men who in vain claim their rights and their position in civilised society . ( Great sensation . ) MrWeerth then declar . d his opinion to be , tbat the protective system in reality did aot protect the working people , but that Free Trade—and he told it them plainly and distinctly , although he himself was a Free Trader—that Free Trade would never change their miserable condition . He did not at all join in the delusions , of the Free Traders , as to the beneficial effects of the carrying out of their system upon the working classes . On the contrary , Free Trade , the full realisation of free competition , w raid force the working people as much into a keener competitioa amongst themselves as it would make capitalists compete more selfishly against each other .. The perfect freedom of competition would inevitably give an
enormous Impulse to the invention of new : machinery , and thus supersede more workmen than even now were daily superseded . It would stimulate production in everyway , but for this very reason it would stimulate over production , overstocking of markets ] and-commercial revulsions , just ia the same measures ; . The Free Traders pretended that those terrible revulsions would cease under a system of commercial freedom ; . why , just the contrary would be the case ,-they would increase and multiply more than ever . Possible , nay cortain .-it was , < that at first the greater cheapness ofc . provialon ? would benefit the workpeople , —that a lessened cost ef pro ? duction would increase consumption and the demand for labour , hut that advantage very soon would ha turned into misery the competition of the working p ^ opl . e ,. amongst
themselves weald soon reduce them to the former level of misery and starvation ; ' After these and other arguments ( which appeared to be quite novel to the . meeting , for they were listened to with tho greatest attention , although the 'Times ' - reporter deigns to rid himself of them with the ; impudent but significant sneer— 'Chartutcommonplace' ) , Mr-Weebth concluded 88 follows : — 'And do not think , gentlemen , that these , are but my individual opinions ; they are theopiulons , too , of the English working men , a class , whom I cherish , and respect , because they-are intelligent [ and energetic men , indeed , ( cheers , ' by courtesy , ') I shall preve that Vy a few facts . During full six years , the gentlemen of the League , whom we see here , courted the support of the working people , but in vain , Tho working men never forgot that the
capitalists were their natural enemies ; they recollected the Ltagae riots of 1842 , and the masters' opposition against tha Ten Hours Bill ; It was only towards the end of 1845 , that the Chartists , the elite of the working classes , associated for a moment with the League , in order to crush their common enemy , the landed aristocracy . But it was for a moment only , and never were they deceived by the delasive premises of Cobdtn , Bright , and Co ., nor did they hope the fulfilment of cheap bread , high wages , and plenty to do . No , not for a moment did they cease to trust in thoir own exertions only ; to form a distinct party , led on by distinct chiefs , by the indefatigable Duncombe , aud by Fcargus O'Connor , who , in spite of all calumnies , —( here Mr Wetrth
looked at Dr Bowring , who made a quick , convulsive movement , )—who , in spite of all calumnies , within a few weeks will sit upon ths same bench with you in the Hoase of Commons . In tho name , then , of those millions who do not believe that Free Trade will do wonders for them , I call upon you to seek for some other means to eff : ctively better their condition . Gentlemen , I call upon you for your own interests . You have no longer to fear the Emperor of all the Russians ; you dread not an invasion of Cassacks but ifyou do not take caro you will have to fear the irruption of your own workmen , and they will he mora terrible io you than all the Cossacks in the world * Gentlemen , the workpeople want nomore worui trom . you , they want deeds ' . And you have no reason lo boastoniBheaatthat , They recollect very mlLthatbi
The Free Trade Congress At Brussels . (F...
183 * aad SI , whea they conquered the Reform BUI for you in Ltndon , when they fought for . you in the stmts ef Paris and Brussels , that then they were oqurted , shaken hands witb , and highly praised ; but that when a few years after they demanded bread , then they were re . ceived with , grape shot and the bayonet , ( Oh !' no , no I yes , yes ! Bazangais , Lyons , ' ) I . repeat , therefore , to you , carry your Free Trade , it will be well ; , » ut think , at tho same time , about other measures for the workingclasses , or you will repent it . ' ( Loud cheers . ) Immediately after . Mr Weertb , up gotDr Bowbiho to reply . ' Gentlemen , ' said he , ' I can tell you tbat the hon . member who has just sat down has not been elected by tbe English working people to represent them in this Congress , On the contrary ; the English people
generail ; have given us their suffrages for this purpose , and , therefore , we claim our places as their true representatives . ' He then went on to show the beneficial effect * of Free Trade , as proved by the increased importation of articles of food into England since the introduction of last year ' s tariff . So many eggs , so many cwt . of butter , cheese , ham , bacon , ao many heads of cattle , & c ., & c . j who could have eaten all that if not the working people of England ! He quite forgot , however , telling-us what quantities of the same articles have been produced less in England since foreign competition has been admitted . He took it for granted that increased importation was a decisive proof of increased consumption . He never mentioned wherefroin the working people of Manchester ,
Bradford , and Leeds , who now walk the streets andeannot get work , wherofrom these men got . the money to pay for this supposed increase of consumption and Free Trade comforts , for we never heard of the masters making them presents of eg ? s , butter , cheese , ham , and meat , for not working at all . , Ho never said a word about the present depressed itate of the trade , which in every publio paper is represented as really unexampled . He seemed not to know that all the predictions of the Free Traders since the carrying ' of the measures have proved just the reverse of reality ., He had not a word of sympathy for the sufferings of the working classes , but , on the contrary , represented their present gloomy condition as the brightest , happiest , and most comfortable they could . reasonably desire .
The English working people , now , may choose betwixt their two representatives . Ahost of others followed , ' who spoke about every imaginable subject upon earth , except upon the one uaderdiscussion . MrM'Adam , M-P . j for Belfast (?) spun aheteraally | long ' yarnupon'flax'g pinning in Ireland , and almost killed the meeting ^ with statistics . Mr Akersdjoh , o . DutchproftMor ^ ipokeaboutOld Holland and Young Holland ,: the university of Liege ; Wnlpole , and Dewlt , M . Tan'de Casteele spoke about * France , Belgium , and ' the mlnlitry . M , Asker , of . Berllu , ' about German patriotism and some hew article he called spiritual manufacture , M , Don Tex , ' a Dutchman , about God knows what . At last , the whole meeting being half asleep , was awakened by M . Wolowski ,: who returned to the question and replied to Mr Weertb , His speech , like all speeches delivered by Frenchmen , proved bow much the French capitalists dread the fulfilment of
M .. Weerth ' s prophecies ; rthey speak with such pretended sympathy , such canting and whining of tbe sufferings of the working claisp ., that one might take it all for good earnest , were it not too flagrantly contra , dieted by the roundness of their bellies , by the stamp of hypocrisy deeply imprinted on their faces , by the pitiful remedies they . propose , and by the unmistakeab ' y striking contrast between their words and their deeds . Nor hare they ever succeeded in deceiving one single working man . Then , up got the Due d'Harcourt , peer of France , and claimed , too , for the French capitalists , deputies , & o „ present the right of representing the French working people . They'do so in the same way as Dr Bowring represent tha English Chartists . Then , spoke Mr Jonas Wilson , repeating , niost ' braxen . ntcedly the most worn-out league . argument , in the drowsy tone of a Philadelphia quaker .
You see from this , what a nice discussion it was . Dr Marx , of Brussels , whom you know as by far the most talented representative of German Democracy , had also claimed bis turn to speak . He had prepared a speech , which , if it had been delivered , would have made It impossible for the congressienal' gents' to vote upon the question . But , Mr Weerth ' s opposition had wade tbem shy . They ' resolved to lesnone speak , of whose orthodoxy they were not qalto'sure . v Thus , Messrs Wolowski , Wilson , and the whole precions lot spoke against time , aad when it was four o ' clock , there were still six or seven gentlemen who wanted to speak , but tbe chairman closed the discussion abruptly , and the whole set of f 9 ols , ignorants , and | knav « B , called a congress of political Economists , voted all votes against one , ( that poor German fool ef a Protectionist aforesaid ) —the Democrats did not vote at all—that Free-trade is extremely beneficial to the working people , and will free them from all misery and distress .
As Mr Marx ' s speech , although not delivered , contains the very best and most striking refutation of this barefaced lie , which can be imagined , and at its contents , in spite of so many hundred pages : having been written pro and con upon the subject , will yet read quite novel in England , I enclose you some extracts from it .
SPEECH OF DR MARX ON- PROTECTION , FREE TRADE , AND THE WORKING CLASSES . Thero are two sects of protectionists . The first sect , represented in Germany by Dr List , who never intended to protect manual labonr , on the contrary , they demanded protective duties ^ n order to crush manual labenr by machinery , to supersede patriarchal manufacture by modern manufacture . They always intended to prepare the reign of the monied classes ( the Bour ^ eoliier ) , and more particularly tbat of the large manufacturing capitalists . They openly proclaimed the ruin of petty manufacturers , of email tradesmen , and small farmers , as an event to be regretted , indeed , but , quite inevitable , at the same time . The second school of protectionists , required not only protection , but absolute prohibition .
Tbey proposed to protect manual labour against the invasion of machlnery , as well as against foreign competition . They proposed to protect by high duties , not only home manufactureSfbut also home agriculture , and the production of raw materials at homo . And where did this school arrive at f At the prohibition , not only of the importation of foreign manufactured produce , but of tbe progress of the home manufacture itself . Thus the whole protective system inevitably got upon the horns of this dilemma . Either it protected the progress of home manufactures , and then it sacrificed manual labour , or it protected manual labour , and then it sacrificed home manufactures . Protectionists of the first sect , those who conceived the progress of machinery , of division of labour , and ef competition , to be irresistible , told the worklng * cIasses , ' At
an ; rate if you are to be squeezed out , you had better be squeezed by your own countrymen , than by foreigners . ' Will the working classes for ever bear with this ? I think not . Those who produce all the wealth and comforts of the rich , will not be satisfied with that poor consolation , They will require more substantial comforts ia exchange for substantial produce . But the protectionists say , 'After all , we keep up the state of society as It is at present . We ensure to the working man , somehow or other , the employment he wants . We take core tbat he shall not be tamed out of work in consequence ef foreign competition . ' So be it . Thus , in the best case , tbe protectionists avow that they are unable to arrive at anything better than tke continuation of the statu quo . Now the working classes want not the continuation of their actual
condition , but a change for the better . A last refuge yet stands open to the protectionist . He will say that ho is not at all adverse to social reform in the interior of a country , but that the first thing to oh sure their success will be to shut out any derangement which might be caused by foreign competition . ' My system , ' he says , ' is no system of social reform , hut if wo are to reform society , had we not better do so within our own country , before we talk about reforms in eui relations with other countries t Very specious , indeed , but under this plausible , appearance , there is hid a very strange , contradiction . The protectionist system , while it gives arms to the capital of a country against the capital of foreign countries , while it strengthens capital against foreigners , believes that this capital , thus armed , thus strengthened , will be weak ,
impotent , aud feeble , when opposed to labour . Why , that would be appealing to the mercy of capital , as if capital , considered as such , could ever be merciful . Why , social reforms arejnever carried by the weakness of the strong , but always by the strength of the weak . But it is not at all necessary to ! insist on this point . From the moment the protectionists agree that social reforms d' > not necessarily follow from , and that they are not part and parcel of their system , but form quite a distinct question , from that moment they abandon the question , which we discuss . We may , therefore , leave them in order to review the effects of Free Trade upon the condition of the working classes . The problem :. What will be the influence of too perfect unfettering of trade upon the situation of the working classes , is very easy to be
resolved , It is not even a problem . If there is anything clearly exposed in political economy , It is the fate attending the working classes under the reign of Free Trade , > All those laws developed in the classical works on politieal economy , are strictly true under the supposition only , that trade be delivered from all fetters , that competition be perfectly free , not only within a tingle country , but upon the whole face of the earth . These laws , which A . Smith , Say , andRicardo , havedeveloped , the laws under which wealth is produced and distributedthese laws grow more true , mere exact , then cease to be mere abstractions , in the same measure ia which Free Trade is carried out . And the master of the science , when treating of any economical subject , tells us' every moment tbat a'l their roasoniugs are founded upon the that all fetters
supposition , yet existing , are to ba re . moved from trade . They aro quite right in following this method . For they maka no arbitrary abstractions , they only remove from their reasoning a series of accidental circumstances . Thus It can justly be said that tho economists—Ricardo and others-know more about society as it will ha , than abeut society as it is The , know more aboutthe future than about the preaent ' . It you wish to read in the book ofthe . future , open Smith , Say . Rcardo , Thero JOU Will find fcserib d , as clearW uSS ^ oSs ^ r ^ r ' n ^ r « s ~ iticaruo
replies , w . acs wdi « . » a »« n • theirloweatlevel . ' S ^ J ^^^ Z ZlnZlZT * ' ^ wtheprice ^ a 'L m ^ i : l , n ?!! ? tUfi tim ° neMM »« y t 0 P «» . « oo it . What TW ! n * c"B (» y t ° Prance the commodity of labour I n a \ , i , 'Wllich i 8 neMssarj' to produce the sum of comvnodU ' . es indispensable to the sustenance aud the re-° » : nng of tb . 9 wear ana tear of the labourer , to euaWe
The Free Trade Congress At Brussels . (F...
him to live and to propagate , somehow or other , hiirace * Waare however , not to believe that the wcrklng man willnmr be elevated abeve this lowest level , ntr tbat he never will be depressed below it ; No , according to this law , the working classes will be for a tin * more happy , they will have for a time more than the minimum , but this surplus will be the supplement only for what they will have less than the minimum at another time , the time of industrious stagnation . That is to say , that during a certain space of time , which Is always periodical , in which trade passes throHsh the circle of prosperity overproduction , stagnation , crisis—that , taking the average of what the labourer received more , and wha t he received less , than the minimum , we shall find tbat on the whole he will have received neither more or lets than the minimum ; or , in other words , that the working class , as a class , will have conserved itself , after many miseries , many sufferings , and many corpses left upon the Industrial battle field . But what matters that 1 The
class exists , and hot only it exists , but it will have increased . This law , tbat the lowest level of wages is tbe natural price of the commodity of labour , will realise itself in the game measure with KicarsVa supposition that Free Trade will become a reality . We accept every thing that has been said of the advantages of Free Trade .. The powers of production will increase , the tax imposed upOn the country by protective duties will die . appear , all commodities will be sold at a cheaper price . And what , again , says Ricarde » That labour being equally a commodity ,-wilI equally sell at a cheaper price ' —that you will have it for very little money indeed , just as you will have pepper and salt . And then , in ths same way as all other laws of political economy , will receive an increased force , a surplus of truth , by the realisation of Free Trade—in the same way * the law of population ,
as exposed byMalthus , will , under the reign of Free Trade , develop itself in as fine dimensions as can possibly be desired . Thus you have to choose : Either you must disavow the whole of political economy as it exists at present , or you must'allow that under tbe freedom ef trade the whole severity of the laws of political economy will be applied to the working classes . Is that to say that we are against Free Trade ? No , we are for Free Trade , because by Free . Trade all economical laws , with tbeir most astounding contradictions , will act upon a larger scale , upon a greater extent of territory , upon the the territory of this whole earth ; and because from the uniting of all these contradictions into a single group , where . tbey stand face to face , will result the struggle which will itself eventuate in the emancipation of the proletarians . ' *
State Of. ' 'The Money : And Manu' Factu...
STATE OF . ' ' THE MONEY : AND MANU' FACTURING MARKETS . The country is just now passing through one of those commercial panics , which recur as regularly under the present' system of conducting business , as darkness follows day-light . A few gleanings from the metropolitan and provincial , journals / will serve to give an idea of the nature ' and extent of the stagnation . It would appear , that in many respects the crisis is more severe than even the celebrated 'smash '
of 1825 and 1826 , and as far as can be seen at the present moment , our future , prospects are most deplorable . ' Last week was a most gloomy and harassing one .- In addition to the actual number offailures reported , rumours affecting the stability of many of the principal houses in the city , were cur-eat , in and fact , it was difficult to say who would be able to * weather the storm . ' The Bank of England finding itself unable to meet the pressure , declined to make any farther advances on Stock or Exchequer Bills , and the ira . mediate consequence was , an alarming decline in the price of Consols . Exchequer Bills also fell at one time as low as 27 s . discount ! '
The Mtrning Advertiser says , speaking of Moudays'As we anticipated , this has been a most severe day .. in the . City . The 4 th ot the month is heavy under ordinary circumstances , but how mnch more so at a time , like the present , may be readily conceived . The Bank of England has done all in its power to relieve the pressure , but from the determination to exclude Exchequer Bills and Stock from the . benefit of advances , firms of the very highest standing have been compelled to make further sacrifices . Since these securities could only be made available en the Stock Exchange , it is in that locality that the excitement has been most apparent . Usually the jobbers are in a position to take off most
important amounts , because they have a resource with their several bankers , as well as with the Bank of England . To-day , however , the case has been very different , and for the limited means at their command , these useful middlemen hare naturally been enabled to obtain most usurous terms . Forced sales of the Unfunded Debt sent down the value to 20 and 27 shillings discount , and large amounts were still offered without finding buyers . . Upon stock , rates of interest were paid equal to 50 per cent , per annum , though it must be remembered that the accommodation was , bat fora week or a fortnight . At the bankers , great activity prevailed in the country offices especially , and we fear , from the results ef our inquiries , that there must be a good deal of work for the notaries in connection with the minor departments of trade . Among tbe actual stoppages
of importance to-day , are those of John Thomas , Son , and Lefevre , a very large and highly respected firm , engaged in the Russian and Brazilian trade , with brandies at Jersey and other places . We believe one of the partners is related to a gentleman occupying & high position in the political world . The house of Rengemont Brothers has also suspended , although , as report says , with a good balance at their bankers , and with assets , calculated te be three times tbe amount of their liabilities . According to the explanation we have heard , tbe resolution was come to under the determination not to submit to the oppressive losses which the existing Currency Restriction Bill is entailing upon every merchant in the country . Indeed , this feeling has become so strong , that it is not impossible that houses with ample funds at command , will entirely suspend business , unless matters speedily improve . '
'The fluctuations in tho Funds to-day have been even more violent than those of Saturday . Upon the commencement of business there was a tendency towards improvement , but subsequently a reaction of 1 to li per cent , occurred , Consols being done as low as 831 for money , and 84 J for tbe 14 tU inst ,, a difference ef no less than 1 p * er cent , to those who were in immediate want of cash , and such as could afford to wait exactly ten days . Exchequer Bills ranged from 10 s . to 21 s . discount , closing at the lowest rates , although Consols were last marked at a rally to 84 and 84 i for transter , and to 84 H for time . '
Exchequer JBills ( t . « ,- government paper ) during one portion of the morning | wero almost unsaleable . With reference to the two failures mentioned above , the Times says , ' That of John Thomas , Son , and Lefevre , will prove extremely serious . The liabilities of this firm upon acceptances , amount to £ 350 , 000 , of which £ 130 , 000 fall due darins ; the present month , £ 120 , 000 in November , and £ 100 . 000 in December , and the immediate cause of the stoppage is understood to have been the non-receipt of expected remittances from their house at St Petersburgh . By many persons , however , the business of the house has long been supposed to have been extended beyond the amount warranted by its capital ; and it is , therefore , feared that the results will not prove so favourable as might have been expected if the disaster had originated in some merely £ temporary circumstances . The blow is expected to fall most
heavily at Manchester , whence the firm , in connection with Messrs De Jersey and Co ., have been large exporters of cotton-twist to St Petersburg !] and Moscow . Within a recent period they had erected a cotton spinning establishment at St Petersburgh . which is stated to have cost £ 60 . 000 , and which ( this branch of . business being known to-be one of the most profitable in that city ) added considerably to the confidence of these who regarded the position of the house as a sound one . John Thomas and Co ., is the title of the firm at St Petersburg ]] , and it has two partners , Messrs Maingy and Forcemnnn , who are unconnected with the honse- in Lonuon . Unit as it is not expected that tbey have independent capital to any extent , and as tbe present suspension has been caused by their want of punctuality , there is little room to hope that the event may bo mitigated by anything that may transpire from tbat side . '
The same symptoms ot derangement were visible on Tuesday ; the Chronicle City a « icle stated . * The state of affairs in the City to-day has not improved in regard to the difficulty of obtaining banking accommodation ; but we are glad to ba able to add that we have heird of no further failures in tlie metropolis . Great excitetsent , of ' courso , prevails on the Stock Exchange , and parties are anxiously hoping for some relaxation of tbe recent resolution ' of the Bank Directors : but in tha mean time the pressure for money continues so great tbat the same disparity exists m the quotations of Consols for Money nnd for tho Account which we noticed yea . terday . The fluctuations in the market were terv considerable . ' Tho provincial markets piuwft . £ „ equally gloomy aspect . "
STATE OF AFFAIRS IN LANCASHIRE Manchestee . --Monday —Thn mimnvnn . «« j psrtantfailures wbto ^& S ^ & 5 ; the last week have operated mos \ Surioush I his town aid district . Confidence mm ! Ha Z en > rob'Bona , and the business of buying aid sellin * has been literally suspended for some days The fearful rapidity with which those failures ££ com upon us-the magnitude of the HabflWea-S Tib natural uncertainty « to who mayba oventuallv S ?~ ^ rt ^ ? * <^ disS 3 caution-m fact , ot positivealarr ^ never uofore wit . iiessed among tho ooinmemal men of this district , The last week has been far r Jlore disastrous and dis tang than anything we bnvo oxperie ? . ccd sinc < Wo . tirms that have tot " many years been looker upon ^ as not ouy _ secut * . ; but absolutely wealthy
are wowed , and indeod - spoken of , as doubtful . Th < immense . extent ot railway speculations , and tin painful , but obvious faot that the largest and wealth test houses firo , ' y u many instances , the first and th deepest lavoKcd . seems , io be . quo important cle
State Of. ' 'The Money : And Manu' Factu...
ment in the general distrust and want of confident * which prevails , fc may fairly be said , vnirenaM ym this immense district . A number of mills bate etu iirefy ceased working on account of the failure of the owners , bnt a still larger number have reduced the hours of working from three and fourdays a week , to two and even one , and to increase onr difficulties , a rather general movement Hems to be made for a material reduction of wages . On Saturday last no fewer th » n forty-two firms in Ashton and Dukenfleld , gave notice to their hands to reduce tbe wages of the spinners to what was paid in 1843 , This , of course , has caused much alarm among tho operatives , and yesterday a very numerous meeting of delegates was held here , to take into consideration the steps necessary in the present emergency . About thirty delegates were present , representing
the following places , namely , Ashton , Bolton , Bury , Chorley , Chowbent , Dnkenfield , Halifax , Leeds , Manchester , Mosley , Oldham , Saddleworth , Water * head , Mill , and some others . The chair was occupied by Mr Joseph Gregory , of Bolton , and Mr Brindlo , of the same place , acted aa secretary . A very lengthened discussion ensued as to ' the desirableness of a general secession of labour , rather than a deduction of wages . The general result , howcve j' J » that resolutions were adopted , which pledged the meeting to cause public meetings to ba held in the various districts , with the view of effecting , by voluntary means , a general suspension of labour tor a given period . These meetings are to be held forthwith . . The system of falling upon wages , however , in times of difficulty , seems to be going oat of favour with many of the leading employers .
On Friday last , a deputation , consisting of Mr John flcmer and Mr J . Mitchell , of Stockport , waa dispatched to Mosley and Ashton , under the sanction of Mr A . Orrill , the mayor of that town , Messrs . Lees , Kershaw , and Co ., of the same place , and tw « other very influential firms , for the pnrpope of endeavouring to effect an adjustment of the matters in dispute between tbe masters of Mosley and Ashton and the operatives , as to the proposed reduction of wrges , or , if that could not be effectf d , to indnce
the men to stand out against the reduction rather than submit , and thus induce a ' general reduction in wages throughout the trade . That benevolent mission , however , roust have proved wholly unsuccessful , as the reduction proposed by the forty-two firms , as already stated , was given notice of on the following day . ¦ One rather remarkable feature in thia proposed reduction i » , tbat although the wages are paid fortnightly , in most instances , and fall due oa different daya , the notices have been so given as to all expire on tbe same day . ° . ""
L ? KBs ,--There is a continued . depression in the foreign wool trade , and as the business done is so extremely limited , ; prices are merely nominal . The demand for English wool is limited to the immediate wants of the manufacturers , who hold light stocks of it . In prices there is no alteration .-There has boen a much better feeling as regards business this week than for many weeks past at both our cloth-halls . There has also heen some little improvement in business in the warehouses , butprinwith the
eipally country drapers . flTODER 8 FiBU > .--. There was a slight depression manifest in the market , and goods were much heavier of sale than what they have been for some weeks past : RocHDAiB—The weather was extremely fine , and we have had a larger attendance of buyers trom Scotland and Yorkshire in the market than for the last twelve months past . The demand for some sorts of flannel goods has been greater than the supply , and in some instances rather better nrices have heen obtained . . Bbadfow ) . — . There is no improvement in the wool market either in demand or prices . The stocks in the hands of thestpplersare small , and they are not anxious to replace them at present prices asked by the producers . Noils and brakes being scarce , fetch higher prices . The spinners are ia general working to order , but the prices are quite unremuneratmg , and the spinners are , curtailing their productions as much as possible . There was less doing in the piece market .
On Wednesday The Pressure In The Money M...
On Wednesday the pressure in the money market continued very severe , so mnch so that the Bank was obliged to give way to a certain extent , and to make some advances which will carry the bonus over to the 13 th . It was believed , however , that the panic was subsiding . " , A £ . : e 8 tabl 5 sbed house in the iron-trode , Messrs V . Higgms and Sons , were reportel to have bus . pended payments .
Ite&Ets:
ite & ets :
Corn, &C.. Coastwise Up To Our Market, L...
CORN , & c .. Coastwise up to our market , last week , the arrivals of Snghsh wheat weresomewhat on the increase , butbjno ncans extensive . Of all other articles of home produce , he receipts were on a very limited scale , the time of yew pnsidered . From Ireland and Scotland scarcely any era came to hand ; but from abroad , we received < ra 4 R * r ^ bW ^^ From Essex , Kent , and Cambridgeshire , as well as onr > ther grain districts , the arrivals of English wheat no t » ur market , this morning , coastwise as well as by land arnage and sample , were very small , owing to which nd the increased attendance of both town and country aulers many of whom were very short of stock-the de . aandfqr ' all descriptions of that article was somewhat ictive , at an advance m the quotations paid on Monday ast of from is to 2 s per qr . and at which most of fh « ™ m
. pies brought forward were disposed of ; indeed , we mav observe that tbe market closed firm . J Notwithstanding a very extensive quantity of foreisn wheat was agam brought forward , a fair average amount of business was transacted atfully last weeks currencies in some few instances the very finest Dantaic was held at a rise of Is per qr . The general quality of foreign wheat was by no means brat-rate .. b The supply of English oats was rery scanty-that of foreign-vcry large . ' Selected parcels were mostly disposed of at late figures , but the outof-condition sorts declined ed per qr . without much progress being made in sales . Indian corn and meal were in moderate request chiefly for feeding purposes , and full prices were paid in every instance . Thero was a steady in ruiry for beans , and late rates were firmly supported . The sale for all kinds of peas was steady , and some of tho holders refused to sell even at extreme fi
gures . The flour trade was steady , and the prices paid on this day se'nnight were realised without difficulty . Mask-lane , Wednesday .-A very limited supply of English wheat has boen received up to our market this week , coastwise as well as b y land carrijge . To-day the show of samples was exceedingly small , owing to which , and the increased attendance of buyers , the demand waa very steady , and , in some few instances , the finest qualities of white produced is per qr . moru money . Liverpooi ., Oct . 5 . —There is a fair import of foreign ; wheat this week ; but the quantities of other articles o £ the tradereported from abroad are moderately small . We are now receivingsmall shipments of now wheat , oats , aud oatmeal from Ireland . The exports of barrel none and Indian corn aro rather considerable , as will be seea on reference to the appended note . Tho interior markets being less freely supplied with grain at the recent
reduction in price , we have had several distant buyers here during the week , and they have purchased to a fair-extent of the leading articles at full prices . . American Sour haaobtained a small advance for choice fresh samples which are become exceedingly scarce . Indian corn has * sold readily at 35 s to S 6 s per 4 tJ 0 ffis . for best quality and 81 s to 33 s for feeding . Irish now wheat has bro ' ueht 0 s lOd to 7 s 6 d per 701 bs ., newoats SsSdto 3 s 7 d pepsins and new oatmeal 31 s to 32 s per 2401 bs . At this mornings mnrkat we had a full attendance of town and country buyers , and a good business was transacted in wheat and flour at an advance of ci per bushel , and Is 6 d , per barrel on the rates of this day se ' unight . Choice Western Canal flour sold readily at 28 s per barrel . Oats anibarlev fully supported late pnees . Irish new mealing oats brought 11 , ? t 0 ll 7 du per 5 Ibs » ud new oatmeal , 30 s to 32 s per 2 Mbs . N » change in beans or peas . Indian corn and , corn meal each met a steady demand at full prices
, Ricumond (\ ovkslhM ) Oct . 2 .-We had a heavy mar , ket of wheat , hut only , thin of other grain . —Wheat sold from 6 s to 7 s 9 d ; oats 2 s 9 d to 5 s i ' bavlsy , 4 s 9 d to 5 s 3 d 1 beans 6 s 9 d to 7 s 6 d par bushel .
CATTLE ,-1-c . Tho following imports of live stock , took place ia £ on « don during the past week : — From Whence . Beasts . Bhp * Lbs . Cal . Tiss . Hamburg ,..,. 5 i 5 ^ 3 _ _ _ NieuBiepps ........ 20 161 — 2 o — Rotterdam .....,, „ ..... 291 1 AS 52 50 120 10 Harlingen ....,,. „ .... ITS l ^ aoa . 81 43 — Antwerp — — — 2 u — . Flushing , „ ., — 418 — — . _» Touingcn .. M , v « . 47 i 280 — — § ,
Total L . H?- 5,119 131 203 16 Sm1thpiel...
Total l . H ? - 5 , 119 131 203 16 SM 1 THPIELD ^ l ^ ?? * 5 vvrivaU i ™ " * fl'oni Hamburgh and Rotterdam ) Ur . vo comprised nearly 2 , 200 head of each firstrat ^ ** ^ " ^ haS been by no meana Tho aupply of fardgn stock here to-day was' again extensive viz ., 9 GJ oxen and cows , 3 , ' 8 l ) 0 sheep and Iambs , UOMUves , and 29 pigs . All breeds ( the condition of which was very inferior ) met a very slow inquiry , atbarclvlast w . cak * s quotations , and a t * tal clearance was not effected , Xhe numbers of sheep were moderately good , but their : general quality was indifferent . Comparativel y speak . 1 ing , the mutton trade was in a sluggish state , at Friday ' s 1 iloclino in value of 2 d per 81 bs . The highest fiigure for the best old downs did not exceed 3 s 2 d y «' 81 bs ., and a total clearance was with dilflculty effected . The pyimest calves were ia steady request at full prices , but all other kinds of teal commanded wry Uttio attention .
Scarcely any pigs bnvo been on ouer in this market from Ireland for soma time past ; but the supply of Eng . Ush has been tolerably extensive , aud of full average quality . To-day the pork trade was r ,. ther inactive , yet prices were supported . The foreign pigs were in wretched condition , and scarcely fit for consumption . COTTON . LivEnroot , Oct . 2 . —Our cotton market to-day has been in a very gloomy state . The failure of W . Maury , exten . sItcIj cni-egcd in tho American and East India trade , yesterday together with that of Thouuts and Henry Mur » ray West India merchants , to-day , has had averydia . couraciuB effect . The sales are 4 , 009 hales , including sou for export , and Sou on speculation . The 'oner American kinds were sold at a further decline of id per lb .
Printed }Y Dougalm'govt An, Of Lfi, Great Windmill, Street, Llaymarkot, In The City Of Westminster, At Tha
Printed } y DOUGALM'GOVT AN , of lfi , Great Windmill , street , llaymarkot , in the City of Westminster , at tha
Office, Iri Tho Same Street Ana I'Ansn, ...
Office , iri tho same Street ana I ' ansn , lor the rroprieter , FE ARGUS O'CONNOR , Esq ., } I . l \ , nnd published by-WiuiAM Hewitt , of Ho . 18 , Chavlcs-street , Bran , don-street , "Walworth , in the parish of St . Mary , New . lijjtou , in tho County of Surrey , at thy urtica , No . IS , Gre ;( t Windmill-street , Hnyiharkct , iu thcCityotftOJU minster . Satur ^ y , October , 9 ft , su
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Citation
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Northern Star (1837-1852), Oct. 9, 1847, page 8, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/ns/issues/ns2_09101847/page/8/
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