The Liverpool Standard and General Commercial Advertiser. — Liverpool, Merseyside, England, 1847-12-07 00:00:00

TO CORRESPONDENTS. etnnot our correspondent in Washington-street limit the sub ject of his inquiry to some particular country? It is impos sible to give an answer to such a general question. EMI! a.therpool &tantiarb. Yearly Subscription: En Advance, 115 s. On Credit, 17s. TUESDAY MORNING, DEC. 7, 1847. We have received the published statement of the accounts relating to trade and navigation for the month ended 6th Nov., 1847, and the ten months 'ended sth Nov., 1847, together with the returns for the corresponding periods of 1845 and 1846, furnished from• the statistical department of the Board of Trade ; and as the results are rather im portant at this moment, as bearing upon the pre sent position and prospects of the country, we give them here, with a few remarks upon the features which they present to us. In the first placewe find the following as the imports of agricultual produce during the three periods :- 1845. Live animals (number) 22,395 . Provisions. Bacon (cwts.), Beef, salt andfresh, do. Butter (cwts.) Cheese do. Hams do. 2,710 .. 72,964 .. 206,036 .. 202,775 .. 4,695 .. 1846. 101,600 1,302 .. 158,823 .. 199.231.. 242,442 .. 9,010 .. 1847. 195,646 1,376 103,095 261,848 274,324 17,781 Corn. Wheat (quarters) ..... 518,824 .. 1,219,178 .. 2,254,535 Barley do. .. , . 310,564.. 202,010.. 733,294 Oats do. .... 479,334.. 640,069.. 1,586,686 Other grain do. .... 179,342.. 307,728.. 528,798 In. corn, &c. do. .... 51,150.. 479.202 .. 3,412,546 Wheat meal&flour,cwts.sl6,63s .. 2,657,660.. 6,098,777 Barl,oat,&ryemeal,do 2,802.. 4,435.. 817,803 Indian meal, &c. do. Eggs (number).— .. 66,803,780 .. 66,218,906 .. 66,752,964 We have thus had—and it accounts, in some mea sure at least, for the present disastrous condition of the country'sfinances—an enormous increase of every description of importable food, with nearly a suffi ciency of which, in ordinary years, our own country has supplied us ; and it must be borne in mind that, for the bulk of it, we have been paying inor dinate prices, more, in some instances, than double those of ordinary years, and, at least double the prices for which it is at present marketable. We must give, however, a further list of articles of im• port which are not such as enter into competition with and supersede those of home growth, although they belong to the category of those which have been cheapened, and their increased importation encouraged, by our free trade policy :- 1845. 1846. 1847. 3,242,181 .. 2,030,436 .. 4,161,465 Cocoa (lbs.)._ Coffee:Briiish & fo'reign (lbs.) 37,203,832.. 40,814,635.. 39,473,936 Sugar, c01..5- for. Unrefined (cwts. 4,754,614 .. 4,751,973 .. 6,976,067 Refined (do. 202,174.. 72,236.. 68,975 Molasses (do. 464,523.. 443,589.. 795,133 Tea (lbs.) How have we paid for the above overwhelming imports ? In the first place, we have, in a great measure, exhausted our coffers of gold to meet the drain upon us. In the next place, we believe it will be found that the foreigner, who has supplied us with such gold, has taken in exchange our na tional and other securities at depreciated rates. For we find that the exports, which we were told were to have balanced our purchases of foreign food, however large they might be, have diminished during the three years in question. We give the declared value of exports to the sth Nov. from the same return : Total amount of the principal articles of British produce and manufactures exported, to the sth of November, in the three years 1845. £45,618,482 .. £43,415,770 .. £43,264,653 There was, therefore, a falling off in the exports in 1847 over those of 1846 of £151,117; and over those of 1845, of £2,353,829. Amongst the items in the above gross amount, the following articles, embracing a large amount of labour and manufac turing skill, appear to have fallen off the most seri ously :—viz., 1815. 1846. 1847. X. X. Itanufactu'd Cottons 16,272,491.. 14,808,394.. 14,650,649 Cotton Yarn Manufactu'd Linens 2,511,976.. 2,276,518.. 2,452,110 Yarn ditto Wool, Sh'p's & L'bs' 494,593.. 286,347.. 237,742 Woollen Yarn.. 925,862.. 781,688.. 864,202 Ditto Manufactured. 6,687,544.. 5,436,650.. 5,982,785 .. £33,772,727 £31,079,667 £29,770,625 In these articles, then, we find a gradual declen _sion in the three years; the decrease being, in 1846, £2,693,060 as compared with the Exports of 1845 ; and in 1847, no less than £4,002,102 as compared with the Exports of 1845. Consolatory indeed for the British Manufacturer The larger decrease above shown in British manufactured goods, as compared with the total decrease in our Exports, is balanced by an increase of £1,232,856 under the heads of iron and steel, copper and brass and lead; and an increase to a limited amount in silk manufactures, salt, and other articles. We may observe, that we have omitted, on both sides of the account. several items of minor importance, in which, although the per eentage of loss and gain is great, and tells for us, the result, as to amount, is not material. As contrasted with the largely increased amount of our imports of food, it is startling to observe to what a limited extent we have been importing the raw materials of manufacture, required to employ our industrious community, and to enable us to pay for that food in manufactured commodities. We give from the same returns the Imports of raw materials of manufacture for the three years, from the let of January to the sth November in 1845. 1846. 1847. Cotton (cwts.‘,.... 5,648,599.. 3,990,411 .. 3,757,462 Flax or tow (cwts.) 1,212,727.. 930,110.. 879,206 Hemp (cwt 5.)..... 702,330.. 677,002.. 629,403 Silk, raw (1b5.).... 3,493,675.. 3,670,306.. 3,341,889 ~ waste (cwts.) 12,134.. 7,027.. 8,222 thrown (lbs.) 385,525 . . 316,660 . . 233,146 Wool, sheep and lambs' (cwts.) .. 65,216,613.. 55,538,498.. 50,706,976 It is obvious from the above that we have not been providing ourselves with the means of pre paring for that influx of orders from foreign coun tries for manufactured commodities which, although we have not as yet received them—our bullion being regarded by the foreigner as a preferable commodity to our goods—we are assured must ultimately come. If we are to become large exporters ; if we are ever fully to provide for the wants of our own popula tion ; if our mills are to resume at an early period their wonted- activity, and the manufacturing in dustry of the country to be fully employed, we shall have to rush into all the markets of the world for raw materials, and thus to make up for any abatement of the drain of specie from us, which may be anticipated from a cessation of food ha ports, by immensely increased imports of these staples of our manufactures. We must have cotton, wool. flax, &c, before we can be enabled to pay off the - balance of trade which is against us, and bring the exchanges decidedly in our favour ; and, in the meantime, we cannot look for the return of any large amount of bullion to the country, unless tempted here by the depreciated price at which we are willing to part with our goods on hand, and our public and private securities. A few items in the return before us are worthy of observation, as tending to shew that neither the manufacturer, the importer, nor the minister who has the care of the national revenue, has much right to attribute any great portion of our present diffi culties to the want of active consumption in the home market, which has obviously been the best customer of each during the past year. We have li noticed above the enormous increase in the impor tation of foreign agricultural products ; yet by the aid of the high prices which he has been receiving for these, it will be seen that the British agricul turist, and the labouring community, employed on railways and other similar works, have been enabled to consume more largely of sugar, tea, coffee, and other imported commodities, and of course of British manufactures, as a natural result, in addition to this immense influx of bread stuffs. Thus we find the consumption of rum in 1845, 1,980,618 gallons, and in 1847, 2,684,008 gallons ; of brandy, in 1845, 869,553 gallons, and in 1847, 1,268,482 gallons ; and of Geneva, in 1845, 13,003, and in 1847, 24,933 gallons. Of articles chargeable with excise duty the following table exhibits a few of the principal. Retained for Home Consumption. 1845. 1847. Bricks, England, (No.) 1,727,348,001 .. 2,088,676,663 „ Scotland, (No.) 51,444,854.. 60,640,920 Malt, (bushe 15).... Soap British spirits . 16,876,548 .. 14,475,666 The above enormous increase of three thousand millions in the consumption of bricks may, of course, be in part accounted for by the railway pro gress which we have been making. The falling off in the consumption of malt is attributable in part to the high price of grain and the use of molasses in distilleries. Moreover, we had, in 1836, the large consumption of 28,000,000 bushels as a set off. Throw these railway companies into a suspen sion of their operations ; disband their vast masses of labourers; adopt the only device which our cur rency-mongers can devise to relieve themselves of their difficulties ; and the returns of the revenue and the profits of the manufacturer will assume a very materially different complexion to that which they at present wear, bad though it be. We leave the above figures to be digested by the read{ r. On a future occasion we may remark fur ther upon them. IN common with a great portion of the public, we have been a little taken by surprise by the announcement made by the Watch Committee, at the last meeting of the Council, of the chahge determined upon by them, with respect to the fu ture management of the police force. It was our full intention to have adverted at length to the subject; With a view of endeavouring to elicit what are the most powerfully inducing reasons for the step taken. We feel it impossible, however, at present to do justice to it, and shall therefore withhold our remarks until next week. THE debate upon the motion of the Chancellor of the Exchequer, for a select committee " to en quire into the causes of the recent commercial distress, and how far it has been affected by the laws for regulating the issue of bank notes payable on demand," presents a fair epitome of the various opinions of the leading members of the House of Commons upon the important subject of our cur rency laws ; and has, no doubt, been perused with deep interest by all commercial men. In referring to it here, we do not propose to enter into any dis cussion upon a subject so wide, and with respect to which the views of so large a portion of the talent and experience of the day are now before our readers. Our only object is to endeavour to arrive at the conclusion to be drawn from it, as to the probable future policy of the legislature with regard to a question so vitally important to the community. In the first place, it appears to us, from a dis passionate and careful perusal of the three day's debate, that the act of 1844, as it stands, is already doomed. With the dogged pertinacity of his nature, indeed, the Chancellor of the Exchequer clings to it, and would preserve it, totus teres atque rotundus. Yet he is compelled to admit that it has not an swered all the expectations, or even the most im- • portant of those expectations, of its authors and supporters. It has not checked the extravagance of speculation. On the contrary, it has even en couraged the commercial community, relying upon the security which it was imagined to offer against the result of such extravagance—a recoil and con sequent panic —to rush into it with more headlong madness. The house was distinctly told by a gen tleman, Mr. J. Wilson, whose opinion upon com mercial questions will be received with great weight, and who made, on Wednesday, one of the most successful &buts, when the unattractive nature of the subject is considered, that we ever remember to have observed, that : " He Mr. Wilson) could personally bear witness to the fact of many eminent merchants in the year 1845 having expressed their conviction that, notwithstanding the mania which then prevailed, the act of 1844 would carry them through without any precaution, and would save them from all ill consequences. Many of those who in the last year had fallen sacrifices to commercial pressure had en tertained the same belief, and at the period to which he referred had consoled themselves with the hope that from the self-acting principle of this bill nothing like a panic could occur, and that the same discretion and attention which had been needful in former years was then unneces sary. The act had done some injury in having created among the public an unfair reliance upon the supposed securities which it would afford, and to it might be attri buted that mischief which inevitably flowed from every interference of the Legislature protecting objects connected with commerce and trade. ( Hear, hear.) Every law affecting to protect commerce, and intending to impart prudence to the public, had the effect of spreading among the commu nity a false reliance upon the Legislature, and, pro tanto, did induce them to throw aside that self-support and cau tion which would otherwise characterise them." It was denied, indeed, by the Chancellor of the Exchequer, that it had ever been represented that the object of the act of 1844 was to repress undue speculation. A different impression, however, was entertained on this point by the public. The restriction put upon the issues of private banks was interpreted as an effort to repress undue spe culation. The weekly publication of the bank's accounts was understood to be the index which was to point out to the public its power to afford ac commodation. No one can deny that the commer cial world watched it as such, although it is clear that a far better index would have been the amount of private deposits in the Bank of England and the joint-stock and other banks, available for dis counting purposes. The question, however, as to this object of the bill, is set at rest by its author, Sir Robert Peel, who, whilst denying having ever promised that it would prevent the occurrence of anything like a monetary crisis, admits that he both expected, and that it ought to have done so— "We did hope," he says, " that after the panic of 1826—after that of 1836—after that also of 1839, we did hope that the Bank:of England would have confined itself to those principles of banking which their own directors admitted to be just, but from which they had admitted their own departure, though prescribed in part by their own regulations. In that hope lam bound to acknow ledge that we have been disappointed. Seeing commer cial difficulty coming, seeing the approach of a panic, they still did not conform to those regulations—commer cial houses were swept away which had long been insol vent—other houses, which under different circumstances might have proved perfectly solvent, suffered from the failures of those whose inability to meet the demands against them was well known. The bill has not sufficed to prevent these results, and so far also I admit that we have been disappointed; for the till was intended to im pose, if not a legal, at least a moral restraint on the bank, and we hoped that it would prevent the necessity of hav ing recourse to measures of extreme stringency." With respect to another anticipated effect of the measure—its power of preserving inviolate the convertibility of bank paper into gold—that, also, has been disappointed. We do not say, of course, that things have ever arrived at the extremity of the bank's refusal to meet its payments in bullion ; but it is tolerably clear that we have only been pre served from such a catastrophe by the unauthorised violation of the act, contained in the Chancellor of the Exchequer's memorable letter of the 25th Oc tober. What was the state of the Bank of England at that time ? We give it, as stated by Mr. Her ries, on Friday night, and admitted by Lord John Russell to be correctly quoted from the London Gazette : " There was, at the time, in the issue department £7,865,000 of bullion ; notes outstanding in circulation, £21,865,000. In the banking department there was £447,000 of bullion, and the reserve of notes to meet the enormous deposits, public and private, £1,547,000. The private deposits were £8,580,000, and the public deposits £4,766,000. The merchants at that time were in great difficulty, and were pressing for assistance. (Hear, hear.) The bank was in that condition, that if the private deposi tors—among whom, he presumed, were some of those respectable men who formed the deputations to the govern ment—had said that within 24 hours they might have occasion to ask for £2,000,000 upon their deposits, the bank must have broken if they had done so. The market was in such a state that at that instant it would not have taken their securities, and there was no other means of meeting the difficulty. That was the condition the bank was in ; such was the workings of the law that the bank, full of credit, full of bullion, the exchanges favourable, and the bullion coming in, was not able to issue upon credit a single note to meet the exigency, except by going into the market with Exchequer bills, which were at 40s. discount, and stock, in such a state that it would not sell without ruin. (Hear, hear.) What would have been the ruin in the city if the bank had gone into the market with £2,000,000 of stock at that time ?" It is not at all a mere " if," with respect to the depositors of the Bank of England demanding their amounts at the period in question. They had de termined upon that course. They had intimated to Government that, unless their reasonable requests for some demonstration of willingness to assist the commercial community were conceded, they were resolved to throw the bank upon the only resource left for it by the stringency of the act of 1844, viz.—a stoppage of payment ; and it is fully esta blished that they could have made good their threat. We should then have witnessed the singular ano maly, described by Mr. Herries, of a banking esta blishment " full of credit, full of bullion, the exchanges favorable, and bullion coming in," yet incapable, because of its hands being tied by the legislature, of performing those simple operations required to keep its proprietors out of the Gazette. Unconsciously, no doubt, the bemused and inca pable Chancellor of the Exchequer let us into the secret on Wednesday, had we not known it before, of the effect, in aggravating panic, of the very bill which was to have warded it off " Evidence, he says, was laid before the Government which proved not only the existence of severe pressure from the causes which I have stated, but also that it was aggravated by the hoarding on the part of many persons of gold and bank-notes to a considerable extent, in coi -a quence of which an amount of circulation which, under ordinary circumstances, would have been adequate, became insufficient for the wants of the country. As soon as the panic ceased, thousands and tens of thousands of pounds were taken from the hoards and deposited in banks. Par ties of every description made application to us for assist ance, with the observation, We do not want notes, but give us confidence.' They said, Anything you do will give us confidence ; say you will stand by us, and we shall have all that we want; do anything, in short, that will give us confidence. If se think we can get bank-notes, we shall not want them. (A laugh.) Charge us any rate of interest you please.' (No, no.) I beg pardon of the bon. gentleman who cries 'No ;' but I may be permitted to know what was said to me. (Hear, hear.) The con stant application made to us was, Let us have notes issuable by the bank ; charge us what rate of interest you please, 10 or 12 per cent. ; we do not want them, only let us know that we can have them, and we shall then have sufficient resources of our own to go on with.' ". We need not remind the enlightened commercial community of this town, that at the time that these entreaties were urged " the panic" had not at all " ceased," but was at its height. All that was required, however, by the deputation, was an assurance, by some overt act, that the stringency of the act of 1844 was not to be insisted upon, and the credit of the Bank of England perilled. They said that any demonstration, convincing to the commercial world of the fact that money could be had at some price, would be sufficient to restore confidence ; and that, with such demonstration, the funds of the bank would not need to be further drawn upon. That the deputations were right, and the Government wrong in so pertinaciously refusing to interfere until the last hour, is proved by the fact that the prophecy of the former has been strictly verified. Another conviction forced upon us by a perusal of this debate, is the fact that a change is inevitable in the constitution of the Bank of England. The blame of every commercial convulsion which has befallen us since the act of 1819, has been visited by our currency doctors upon the unfortunate bank directors. They have not put on the screw suffix ciently early, or they have driven it home too rapidly. They have omitted to take this warning, or neglected to take that precaution. There may be, and there are, grounds for the belief that the Bank of England is not the best possibly consti tuted body to have the care of the national credit. Its proprietary and directors have interests of their own to advance ; dividends to create ; and, whilst keeping strictly within the letter of their charter, may occasionally be forgetful of what Sir Robert Peel terms the " moral restraint," imposed upon them by the act of 1844. But, whilst accusing the bank of such misconduct—of unduly expanding the credit of the commercial community at one period, and oppressively contracting it at another; of encouraging railway and other speculations at a time of apparent excess of the country's capital, and depressing it as soon as the tide appeared to be on the return—has the legislature, or Sir Robert Peel himself, perfectly clean hands ? We think not. We remember something of the mass of railway bills, whose passing the former encouraged. We remember a certain episode in the life of 'the Right Honorable Baronet, in which he figured as something between an amateur " navvy" and a stone-mason. At this period we heard not even a hint of the " moral restraint" imposed upon the Bank of England, or of its having been exceeded by that body. We heard, something, however, of the advantages of " direct railways, and the saving of distances, and expense of locomotion." Possi bly, in those halcyon days of speculation, the pro ductiveness of the revenue, increased by railroad formation, was an object to be desired. Possibly, with a stimulated commerce, and the industry of the country fully employed, the blister of an Income Tax was more cheerfully submitted to. It is not quite fair, however, for those who have built up a political reputation, such as it is, upon the factitious prosperity thus produced, to turn against and revile the authors of their own success. One piece of information which the country has derived from Government during this debate will not be viewed as very consolatory. No immediate measure is to be proposed to Parliament, the posi tion of the bank, we are told by the Chancellor of the Exchequer, " being such that," he believes, " no person can entertain the slightest apprehension of its meeting all the demands made upon it." The same sagacious authority considers, moreover, that the pressure amongst commercial men is ra pidly subsiding. Orders are pouring into the country which will speedily set our working classes in active employment ; and, although a few com mercial failures are occurring, and more may be anticipated, they are not of the character of the calamity which his recent letter to the bank direc tors, he says, " prevented"—viz., " a general and contemporaneous failure," or, in plainer language, a national bankruptcy and convulsion ! How the good easy people of England will be enabled to breathe in comfort with the knowledge before them, that on the 25th of October last they were on the very verge of being blown up, and were only saved from such a catastrophe by the timely despatch of a letter from Downing-street, signed " John Rus sell," and "Chas. Wood"—how they can sleep in their beds for a year or two to come, with the con sciousness that the same fearful magazine may at any moment explode beneath them—we are at a loss to imagine. But, if the Chancellor of the Exche quer flatters himself with the idea that the corn mercial community of this country will be satisfied to embark once more in extensive operations ; that manufacturing industry will again put forth its energies ; that capital will be embarked to the ex tent required to employ, to feed and to clothe the people, whilst an engine exists with all its destruc tive tendencies unmitigated—an engine which has proved itself capable of striking to the earth one of the most extensive commercial fabrics which the world has ever seen erected in any country—an engine which has swept away, in a week, the accu mulated fruits of years of toil and thought, and beneath whose operation the millionaire of to-day may to-morrow morning rise a degraded and dis graced man—he assumes that either that commu nity has lost its reason, or that the voice of public opinion, which has already loudly condemned him self and his theories, can be hushed to a whisper at the bidding of an infant. Sir Charles Wood, and those who co-operate with him upon this question, overrate their power of hoodwinking and deluding a thinking and intel ligent people. They are mistaken both as to the present extent of improved feeling amongst the commercial classes, and the prospective improve ment to be hoped for. Let them mingle a little in the commercial world —not amongst leviathan houses who are congratulating themselves upon their narrow escape from the Gazette ; not amongst bank directors just relieved from the fear of a run for gold, or for deposits ; but amongst those classes by whom the wheels of the national industry are put in motion—and he will be taught a different lesson. He will learn that the commercial traveller returns home barren of orders, and with his ac counts but half collected ; that everywhere restricted operations, both of commerce and of industry, are either in course of adoption or are contemplated. Englishmen are of a speculative and sanguine dis position ; prone to take warnings, and to receive instruction too late ; but in great emergencies, at least, they are capable of being startled into the exercise of prudence and of common sense. They have just been so startled. They have just been told that they have been trusting to a machine which, in the hands of a Whig Ministry, led them to within twenty-four hours of a dismemberment of the entire social fabric. OUR remarks last week upon the sweeping charge of reckless and dishonest trading, levelled by the Manchester Guardian against the large East India firms which have been prostrated during the last two months, have drawn from that paper what its editor, no doubt, considers to be a satisfactory rejoinder. We urged, in behalf of the houses in question, the fact that the export and import trade of the country is to a great extent carried on through the medium of bills ; and that, with re spect to our most distant markets especially, it had always been the practice to make those bills at such dates as would, to a great extent, relieve the merchant from the inconvenience caused by the long period which must intervene between the time of shipment of his goods, or produce, and the receipt of the remittance in cash. Hence, we contended that it was unjust to direct against one body of merchants a censure, on account of their adoption of a practice which was general; and the more so inasmuch as their ruin was clearly trace able to the effects of our interference, unforeseen by them, with the products of the markets to which they traded, aided by the operation of an unsound system of currency. Our contemporary finds it convenient to omit all notice of the first item of our plea of inj ustice to the firms in question—viz., the fact that the practice complained of was not peculiar to the' East India trade. 'We presume, therefore, he admits that our trade with other distant markets is, to a greater or less extent, managed by an exchange of bills between the foreigner and the British merchant. We are all guilty, if any guilt there be, of adOpting this vicious principle. Of course, such being admitted, any charge against the East India merchants in particular is unjust. They have sinned only in being more unfortunate than others in their extended operations, or in not perceiving the power of that great monetary engine, whose screw has proved itself strong enough to destroy with a few resolutions the best-devised and soundest commercial undertakings. With respect to the second item which we pleaded,—the fact that the East India trade had been peculiarly affected by the recent alterations in our fiscal and commercial policy,—the Guardian also admits in great part its truth, although he does not seem inclined to give the unfortunate body in question the full advantage of it, but rather prefers attempting to convict us of error in some points of detail. We give him the benefit of quoting this part of his article, upon which we shall offer only a brief reply : "We shall be obliged to the Standard to inform us what are the ' many most, important staples' of India which our free-trade policy has prohibited. There is nothing of the slightest consequence, except sugar, in which recent legislation has made any change; and the reduction in price, instead of being confined to sugar, extends to indigo, silk, and cotton, the other principal staples of the Indian peninsula, with respect to which ' our free-trade policy' has bad nothing to do of late. But we deny altogether that any such profits have been regularly gained by those returns in produce, of which the Liverpool Standard speaks. We know, perfectly well, that several houses in this district, heretofore largely engaged in the trade, un derstanding it thoroughly, and possessing capital which enabled them to wait for their returns, without obtaining advances, have found it invariably unprofitable, and have withdrawn their capital from it, not choosing to compete with parties who evidently had some other object in the purchase and shipment of goods than that of reaping a genuine mercantile profit from their operations. There is no doubt that the great decline in the price of sugar, not merely in England, but throughout Europe, has greatly increased the losses arising from the reckless system of commerce which has been carried on; that the fall of many houses has been accelerated by the general monetary pressure under which the country is labouring ; but the trade was previously cankered to the core ; and sooner or later, the unsoundness would have manifested itself in facts such as recent failures have disclosed." We are, of course, perfectly aware of the fact, of which the Guardian reminds us, that, directly, our free trade policy has not "of late," had much to do with "indigo, silk, and cotton, the other prin cipal staples of the Indian peninsula." We have not, as with respect to the Indian sugar cultivator, been sacrificing the Indian silk, cotton, and indigo grower by legislative action. But if our free trade policy, combined with a vicious system of currency, has had nothing to do with the cessation of the mills of Manchester and of Leeds ; if it has had nothing to do with that limitation of our produc tion of those fabrics of which silk, cotton, and in digo are either the staples or components, we should be obliged if the Guardian would tell us what has. These two potent causes together are depreciating in our markets the price, not only of the produce of the East Indies, but of every other country. They have lowered the saleable value of every description of property, fixed or unfixed. They have raised the value of money until it is be yond the reach of every man who seeks to carry on a legitimate business, and to derive a fair remuner ation for the exercise of his enterprise or his indus try. We repeat that these causes fully explain the fact on which the Guardian grounds his charge against the East Indian merchants, that produce has been of late quoted as bought in the markets of the Indian peninsula at prices below the rates which could be procured for it in Great Britain ; and renders it quite unnecessary to assume that those merchants have been buying only to raise money by hypothecating their cargoes. Besides, we would remind the Guardian that in every period of mercantile transition, temporary absence of pro fits upon the most legitimate transactions must unavoidably occur. We have never heard it urged against the Manchester millowners that for the last nine months they have been working their mills at a weekly sacrifice of capital. In reply to our remarks that we were unable to see how any large amount of foreign commerce could be conducted without drafts between the ex porter and importer, and the use, in some cases, of long dated paper, our contemporary says :-- " It seems to us that there is another mode, far safer and more satisfactory, and more likely to yield a profitable result to the merchant and to the country at large,— namely, to conduct the business, as it was generally con ducted a few years ago, by the employment of an adequate capital." We are not quite aware what he means here. There are few of the unfortunate houses which he maligns, in whose business an ample capital was not embarked, and up to within the last year or two readily available. How such capital has been swept away may be accounted for on grounds very little creditable to the sagacity of the party of which the Guardian is a leading organ. We shall see whether those parties in his own locality, who "have found the trade with india invariably unpro fitable and have gradually withdrawn their capital from it," will try their fortune again, or if they do so, can conduct the necessarily extended operations required in such a trade without discounts at a reasonable rate. COLLEGIATE INSTITUTION.—The Rev. V. W. Ryan, M.A., Magdalene-hall, Oxford, has been appointed to the office of Vice-Principal of the Collegiate Schools, vacated by the death of the late Mr. De Butts. ST. JOHN'S CHURCH SCHOOLS.—On Sunday last, at St. John's Church, after sermons by the Rev. Dr. M`Neile and the Rev. W. M. Falloon, the handsome sum of £49 2s. 4id. was collected in aid of the schools in con nection with the church. THE SEVEN CHURCHES OF ASIA. — We see by the placards, that the Rev. D. Meredith, from Yorkshire, is to preach in English, at St. David's Church, this evening, and some very interesting information is expected r d e u s r p i e n c g ti h n i g s l t a h te es r e es c i h d u e r n c c h e e a s t , S a m s ytriray. i were v isi ted by him, DEATH FROM APOPLEXY.—An inquest was held yes terday complained of his head, but appeared to recover. body i f od th g e edin Q o u f ee .l n o - h s n tre J e o t n a s n o d n , ha a d g e o d c c 4 . o_ years. on ri e e v e i a ew sed o On Saturday night, however, he was found insensible in his room, and died soon after. Verdict, on the evidence of Mr. P. Kelly, surgeon, " Death from apoplexy." THEFT OF IRON.—A man named William Kelly was yesterday charged before Mr. Rushton with stealing from the yard of Messrs. Lomax, in P ara di se - s t ree t, a p i ece o f iron weighing about 1001 t, and wor th a b ou t 20 s . Th e prisoner was seen in the yard on Saturday night, soon after five o'clock ; and a constable being sent for, he was apprehended on comi ng ou t f rom th e gs t e w ith th e ar ti c l e in question. He was committed lb. trial at the sessions. A CHILD BURNT TO DEATH.—On Friday night a woman named M`Dermott, placed her female infant near to her in front of the bed, leaving a candle burning on the floor, about a foot distant. The woman, who had fallen asleep, awoke in about half-an-hour, and found the deceased's clothes in flames, which she extinguished, but the sufferer was so much injured that she died on Sunday night. Verdict, at the inquest yesterday, " Died from burning, but how caused no evidence." THE WEATHER.—The weather during the week now ended, has on the whole been wet, and occasionally stormy. Thursday was an exception. On Friday it was raining until towards evening. Saturday was stormy, with showers, and at night there was an extraordinary fall of rain, in a brief space of time, accompanied by hail and wind. The night being dark, the market people who could not leave town early, were sorely beset in returning to their country domiciles. Many of the low lands in the country districts in Lancashire and Cheshire are partly under water. On Sunday we had also squalls, with hail and rain. Yesterday was rather more moderate. The probability is that, after such heavy downfalls, the atmos phere will clear up, and we shall have frost, which would now be more acceptable and wholesome than such a suc cession of cold winds and rains. The prevailing winds, for some days have been from the S.W. quarter. Yesterday the barometer fell slowly from 29° 42 1 , on the previous day to 28° 20', being the lowest at which we have seen it for some time. The gradual fall is not, however, indi cative of a gale. SOUTHERN AND TOXTETH HOSPITAL.—The annual sermon on behalf of this excellent charity was preached on Sunday, at St. Barnabas's Church, Parliament street, by the Rev. T. Nolan, A.M., incumbent, who is the honorary chaplain to the institution. Pursuant to custom, most honoured in the observance, the Mayor, accompanied by Mr. Alderman Chilton, Mr. Councillor Mann, Mr. Councillor Royden, Mr. Councillor R. L. Jones, and other members of the Corporation attended the church, and lent the influence of their presence, and something more substantial, to render the occasion valua ble and effective. The friends of the institution assembled abont half-past ten o'clock, at the school-room in Flint- St., where the committee were joined by his worship and the councillors, and proceeded in procession to the church, which was filled by a highly respectable and attentive con gregation. The service commenced at eleven o'clock, at which hour we understand that the morning service will hereafter begin, being more convenient to the congrega tion, and not making any material difference in consequ ence of the alteration of the time through the country. After an excellent discourse, characterised by Mr. Nolan's usual piety and ability, a collection was made, and the handsome sum of £7O was realised. Not a week elapses that we have not to record some instance of the usefulness of this charity, and we learn, therefore, with regret that, at the last annual meeting, a sum of £ 4OO was shown to be due to the treasurer. There could not be a more worthy channel for benevolence. THE LIVERPOOL STANDARD. THE PURCHASE OF THE WATER WORKS. In our last we gave the proceedings which took place the preceding day in London, before Robert Stephenson, Esq., the arbitrator mutually agreed upon to determine the price to be paid by the corporation of Liverpool for the purchase of the works of the two water companies in this town. The court adjourned at a quarter to four until the next morning, it being understood that in the interim the corporation acco un t an t should have access to all the books of the Harrington Company. The proceedings were resumed on Tuesday morning, by Mr. Cromp ton, who replied at great length to the arguments of Ser geant Wrangham ; the principal point in his argument being to prove that after the passing of the Harrington Company Act of 1846, giving them power to raise addi tional capital to the amount of £200,000, they were clearly a ten per cent. company, and could not claim more than the value of that revenue on their expended capital. It was contended, on the other hand, that as the company could not capitalise that amount before the twelve months allowed by parliament for the Corporation to purchase the works, this clause did not apply, especially as another clause in the same act enabled them to divide the whole of their profits up to the day when their works were bought and paid for by the Corporation. In this view of the case the arbitrator appeared to coincide. Mr. Crompton then recapitulated the nature of the evidence which had been adduced by the Corporation before the committee, when prosecuting their bill relative to the defective supply, and the bad quality of the water ; and the hopelessness of getting a more abundant supply from the red sandstone. He concluded by moving an adjournment to Liverpool, in order to afford the Corporation an opportunity of ad ducing evidence in support of these facts. This was opposed by the counsel for the Water Com pany, who argued that ample time had been afforded the Corporation to have prepared themselves to rebut the evidence which the company was prepared to bring for ward. The works, books, and documents of the company had been invariably open to the inspection of the officers of the Corporation, and the blame was their own if they did not inform themselves. The Arbitrator decided that the proceedings must be carried out in London : he, however, would himself visit Liverpool, and examine the state of the company's works in detail. This arrangement met the approval of both parties, and it was understood that Mr. Stephenson would proceed to Liverpool during the week, and examine such witnesses as he deemed most likely to give informa tion on the various points connected with this important case. The Bootle case was entered into on Wednesday. The sum of £354,000 was demanded by the company for their works,—making, with the large sum the Harrington Company anticipatee receiving as compensation for the prospective increase of their income, a sum considerably above a million sterling, demanded by the two companies. The documents adduced by the Harrington Company shewed a very flourishing state of their affairs. During the last few years the company's revenues have increased enormously, in the face of a diminished expenditure for carrying on the works. The increase in their income, for the supply of shipping alone, being £l2OO this year in excess of 1846. _ . We cannot avoid expressing, in conclusion, a hope that the Corporation will, for the good of the town, succeed in making as good a bargain as possible; but we think they would have done better had they followed our advice some time since, to put themselves in communication with the companies for the purchase of their rights. LATEST INTELLIGENCE. (BY EXPRESS.) LONDON CORN MARKET.-YESTERDAY. The market to-day was well supplied with English Wheat, which met a brisk sale at fully the currency of this day week. A fair extent of business was transacted in foreign at former prices, which remark applies also to barrel Flour. Indian Corn is in less demand ; but holders are firm, and do not press sales under late rates. Fine chevalier Barley is scarce, and the turn dearer, but no improvement can be quoted in other descriptions. Malt has met somewhat more attention. All sorts of Peas and Beans must be noted 2s. lower. Since last market day about half-a-dozen vessels have arrived laden with Oats from Ireland. The Oat trade continues dull, and the sales are chiefly in small parcels to necessitous buyers, who 1 urchased without difficulty. THE SARAH SANDS, AUXILIARY SCREW STEAMER. Now that this fine ship has completed four voyages to New York, and is laid up for a short overhaul, pre vious to her next voyage in January, it may be interest ing to review the results of her performance. She was built with a view to test the practicability of carrying on the general trade between this country and America, by means of auxiliary steam-power, and judging by the results the experiment seems to have been entirely successful. In first attempts of this kind allowance must always be made for difficulties in the machinery, arising from the novelty of the various parts, and such difficulties, though not of a serious nature, have been experienced in this case no drawback has, however, appeared in the general principle. It is well known that the New York packets are amongst the finest trading vessels in the world, and a comparison with some of the best of these on the out ward voyage, where the greatest difficulties are encoun tered, will give a good idea of the performance of the Sarah Sands : S. Sands. Sailed Time. Pkts. passed aver. time Ist voyage Jan. 20-47. 201 days 6 48 days 2d ditto April 6 „ 23 „ 6 361 ~. 3d ditto June 15 „ 34 „* 6 47 ?, 4th ditto Sept. 3 „ 20 ;; 4 32 A fact connected with the last voyage is interesting. She took out a valuable though light cargo—a large num ber of passengers, and coals sufficient to work her out and home, with eighty tons to spare, steaming the entire dis tance—a performance, we believe, wholly without prece dent in the annals of steaming. The Sarah Sands is an iron ship of 1,000 tons, builders' measurement, and 1,300, new measurement, engines 180- horse power, coupled direct to the screw. She has exten sive accommodation for first, second, and third-class passengers, and can stow about 900 tons of goods, besides coals, for the voyage. The largest owners are Messrs. T. and J. Sands, of this town. She was built from the plans of Mr. Grantham, engineer, and is commanded by Captain W. C. Thompson, (late of the Stephen Whitney,) who superintended her outfit. * Sarah Sands returned to Cork with machinery damaged, and lest 14 days, making the voyage 20 days. LAMENTABLE LOSS OF SIX LIVERPOOL PILOTS, IN THE OUTWARD CHANNEL. On Sunday morning, about tide-time, several pilots be longing to No. 4 pilot-boat embarked in boat No. 12, for the purpose of proceeding to their own vessel, which was on the Hoylake station. At half-past one o'clock, the two vessels, being but a short distance from each other, to that thee t w p e u e n n t bet t h elo ß n e g l itg bu t o o y N a o n . d 4, th an e d ß w a e r r , e t p h r e oe p e i e lo d t in s g got into vessel through a heavy sea caused by a strong gale from ssul y weenerE t ef: l idire. unfortunates riulern a sent v ateo e tynte s 0..5, struggl ing in the water. The crews of the two pilot-boats made e e dNr n e p poTs u w ac. n hvu e l t r eii 2een names a i a m amo s nTn m ed c hes e a j,e d r i Too i s h a f i ht : ho e t e eFh l m d r y eusa b l, the most strenuous efforts to save their comrades, but the artswhanheyed o,y, westward,. ‘vtwwho neameslr whole phtlasiolcuullkcea dro wn e d. ode. lee h ei i ndeab t d.i i men ; and George Bennett, Joseph Ledder, and William Charlton, apprentices. The body of Quayle was subse quently picked up by the crew of No. 4, and taken on board. He was quite dead. INQUEST ON THE BODY FOUND. Yesterday, an inquest was held before the borough coroner, on view of the body of Wm. Quayle. John Hughes, pilot of No. 4 pilot-boat, said deceased was a pilot on board that boat, and was about thirty-eight years old. On Sunday afternoon, witness was on board the boat named, sailing near the bell-buoy. Deceased and six other men were in a small punt coming from No. 12 to No. 4. It was blowing a moderate breeze at the time, Whilst they were in the act of coming towards No. 4 a sea struck the boat, and upset it. Before any assistance could be rendered, deceased and five others of the men were drowned. In about three-quarters of an hour after wards, the crew of No. 4 picked up the body of deceased, and conveyed it to Liverpool. The body was taken to Suffolk-street. Toxteth-park. Another pilot, Saml. Jones was on board No. 4, and witnessed the same melan choly fact.—The jury returned a verdict of " Accidental Death."—We learn that the small boat in which the de ceased and Eddleston had gone, (to transfer themselves in pursuance of their vocation from one pilot-boat to the other,) was rather too small to carry seven persons in a seaway—four being about her complement. We perceive, from an advertisement, that an agency has been opened in this bown for the Colonial Life Assurance Company, which offers valuable facilities, especially to parties resident abroad or visiting foreign countries. CHARGE OF ROBBERY.—At the police court, yesterday, two men, James Blackmore and Edward Tobin, were charged with robbing, of his hat and handkerchief, John Butler Gibb, a seaman, and also with assaulting him and another man. The latter is still so ill, from a broken bone, that he could not attend, and the prisoners were remanded. ROBBERY OF FLOUR.—Yesterday, at the police-court, a young woman named Catherine Forrester was charged with having, on Saturday night (with another) entered one of the shops of Mr. Lightbound, flour dealer and baker in this town, and stolen therefrom 131 b w eight of flour from a bin, with which she made off, but wa s sto pp ed in the street. The case was proved, and she was com mitted for trial. LIVERPOOL LAW SOCIETY. — About sixt y g entlem en of the legal profession, members of the above society, i d n i dined dtogetherb eing at f theurt h an n ua l 1 p u h i a Mr. Robert Norris took the chair, and Mr. Watson was festivity t o y n o f the association. Wednesday even ing, vice. Amongst the company were hi s Worship the Mayor, Edward Rushton, Esq., Mr. Commissioner Lowndes, M r . Beamont, the Mayor of Warrington, Mr. Lace, and Mr. North. A deputation from the sister society In Manches ter, consisting of Messrs. Howell and Whitlow, attended. CHARGE OF BIGAMY. —A man named Richard Noble, was, yesterday,. brought before M r . R us ht on , on a c h arge of having mulled a female in this town, while his former wife was yet alive. It appeared from the evidence and the certificates produced, that prisoner had married at St. Mary's Church, Stockport, on the 12th October, 1845 ; and, on Friday last, he had married another person at St. Nicholas's Church, in Liverpool; The prisoner declined to say anything in his defence, at this stage of the . proceedings ; aud be was committed for trial at the asetzel. Dec. 7, 1847. SERIOUS CHARGE. AGAINST A CAPTAIN OF A SHIP, AND HIS ACQUITTAL. In our last number we briefly stated that on yester day week Captain Cheasty, formerly of the brig Eliza, was brought before Mr. Rushton, to answer some charges of having been accessory to the death of a man on board of that vessel, on her passage from Ireland to British Ame rica, as conveyed by depositions taken in that country be fore a magistrate ; but he wishing to bring some witnesses in his behalf from Dungarvon, whence the vessel had sailed, the hearing of the case was postponed until yes terday, when the accused was brought up to the bar, and Mr. Davenport appeared for his defence. The evidence gone into was of great length, as were the cross-examina tions ; but as the whole failed to satisfy the magistrates of the truth of the accusation, it is unnecessary to supply more than the heads : The two principal witnesses, James Matthews and James Martin, seamen in the Eliza, both deserted the ship on the other side, and had, after being imprisoned there a short time, been sent home here in the steamer Cambria, as witnesses against the Captain. Their story went that the vessel sailed from Dungarvon in October las - . bound to a place called Buctush, near Richebuctoo. After they had been a day or two out, a man named Creene, a tailor by trade, was found to have concealed himself in the hold with a view to obtain a passage with out payment. When the vessel was out four days, and sometime between eight and twelve o'clock at night, the captain (said they) resolved to have "a lark" with the tailor who had smuggled himself on board, and with this view called him on deck, and after taking two glasses from a pint jug of rum (given to others), compelled him to drink the remainder, and afterwards brought the wit ness Martin to wrestle with him on the deck which he did,—and, by-his own account, getting nearly the worst of it. The witness Matthews said that the captain com pelled him to drink the rum by taking a knife, and threat ening to cut his throat if he did not. The other witness, Martin, spoke to his being required to drink the rum from the jug. but said he then went away immediately, and saw no knife used or any threat made They both spoke to the second mate and the captain after wards wrestling with the deceased, but considered that the parties were in good humour. They also spoke to some blows being inflicted upon deceased with a flat stick, and to his being placed on a sail upon a grating, and cold water thrown over him, as he was drunk. Deceased died about four days afterwards. It appeared the captain, after finding him ill, . gave him some castor oil and rum mixed. - The captain, it was admitted, behaved well and kindly to nis crew throughout, and no quarrel had, it was admitted, arisen between the two main witnesses and the captain, until he had taken possession of their clothes, snspecting that they were going to desert from the ship, after her arrival at Bucktush. They did afterwards de sert, and were caught jzi the wood a few days after. Being brought before a magistrate, they were committed to gaol for fifteen days. The two witnesses stated that on leaving the ship they had sent a message by the ship-boy to the captain, stating that they wished to go on shore to apply with respect to their dothes, and also the treatment of the man Greene on board. The ship-boy said that no such message had been sent by him—all that he was to say being merely that they wished to go on shore, and that the mate was sent to them, and ordered them W work, which they refused to do. It appeared from some witnesses for the defence, that deceased was in a bad state of health before he got on board. The circumstance of the man's death was noticed in the log-book, and he was buried at sea in the usual manner. The defendant on being asked what he had to say, said that he was as innocent of the act charged as any one present. All the rum he had given him was two table spoonfuls ; and he gave it him, thinking as he was ill with dysentery, it would do him good. The man had been ill for days, and had been able to take little or no food. Mr. Rushton said that he did not believe the story got up against the captain, and noticed some contradictions in the evidence. It was impossable for any one to believe such a story, and he regretted that the captain had been detained, but there was no alternative after the documents were sent from America. He concluded by discharging the prisoner. ATTENDANCE OF PILOTS. TO THE EDITOR OF THE LIVERPOOL STANDARD. Sia,—l observe a letter in your last, complaining that the New World, packet-ship had to lay off Point Lynas, on the night of the 27th of November, twelve hours, without being able to procure a pilot. I have deemed it my duty to instigate an inquiry into the circumstances, and subjoin the result from the master of No. 11 (Mr. Parry), who said he was first on the turn on the western station on the 27th November, along with No. 10 ; second on turn, Nos. 6,5, 2, and 9 on the inner stations ; it was hazy throughout the day ; that about 6, p.m., the weather cleared away, when they saw a vessel's light off the Skerries, the wind being from the eastward. On No. 11 approaching the light, after nearly two hours' chase, found the vessel to be the New World, furnished her with a pilot at 8, p.m., 14 miles to N.W. of Lynas, and 6 to the westward of the outward station. I hope that this explanation will acquit the pilots from all charge of neglect, and am yours obediently, J. COOKE, Superintendent of Pilots. Dec. 3, 1847. It is calculated that in the last fifteen months we have spent £33,000,000 in the importation of food. The deaths in London last week were 1,600, being an increase of 60 per cent. above the average, The Birkenhead iron steam troop ship was at Cork on the Ist inst. She embarked at Davenport 954 bags of rye-meal for Haulbowline. The estate of Messrs. A. A. Lackersteen and Co., who failed last month, shows about nine shillings in the pound. The liabilities are £178,115, and the assets only £80,702. DEATH OF THE REV. THOMAS MAGUIRE.—The parish priest of Ballinamore, the celebrated Father Maguire, of no little fame as a controversialist, is no more, intelligence having been received announcing his death by typhus fever. The progress of the investigation of the accounts of Trueman and Cook continues to develope more favourable results than were at first anticipated. There is a prospect of an early dividend and ultimately of twenty shillings in the pound. MURDER IN TIPPERARY.—Another murder has been fully perfected by the death of James Devone, ploughman to the late Mr. Waller, one of the victims of the Finnoe tragedy. Devane was attacked on his return to Borris okane, and his head literally beaten in with stones. He lingered in dreadful agony until Wednesday, when he expired. SIGNS OF THE TIMES.—The solicitor for the Provin cial Bank of Irelandlas put upon the files this term no less than 800 " declarations," the subsequent proceedings upon which, while holding out promise of an abundant harvest to be reaped by the " profession," afford but an indifferent prospect of an improved state of monetary transactions. Amongst other reports rife in Dublin during the week, it was said that an attempt had been made upon the life of Lord Crofton, and it now turns out that there was A solid foundation for this statement, inasmuch as his lord ship has been obliged, by the interposition of his friends, to leave Ireland, and thus escape the othe rw i se i nev i table doom that was, beyond all doubt, known to await hi u , there. Lord Crofton's estates are situated in the county of Roscommon. In the Common Pleas, on Saturday, an action was tried which was brought by Miss Smith (the plaintiff in the late action for breach of promise of marriage against Earl Ferrers) against the proprietor of the Britannia news paper, for an alleged libel, which consisted in some com ments made in that paper upon a pamphlet published by the plaintiff, which denied many of the statements made on the trial to her discredit. THE VOYAGE FROM VALPARAISO.—The steam sloop Cormorant arrived at Portsmouth on Friday, from Valpa raiso. She occupied 97 days in the passage, and much interest was felt in her voyage which was considered a sort of test of the relative advantages of the route via Cape Horn and of that via Panama. The number of days occupied on the passage from Valparaiso to England, via Panama, by means of the Pacific and the Royal Mail Steam-packet Companies' steamers, is 73. The difference against the Cape Horn route, as shown on the present oc casion, is, therefore, not less than twenty-four days. CHURCH FEES.—In the Court of Queen's Bench, on Monday, the cause " King v. Alston" was heard- The plaintiff is, the Reverend Joshua King, rector of the parishes of St. Philip, Bethnal-green, London, and of Woodchurch, Cheshire; the defendant was perpetual curate of the former parish, and the action was brought to recover two-thirds of the fees for churching, baptizing, christening, and marrying, which the plaintiff claimed as his right, although he had resided since 1820, when he was appointed to Woodchurch, in addition to his London living, whichhe 'gad held since 1809, principallyin Cheshire. Itwas agreed thatthe fees in dispute should be taken at £3O. For the defence, it was alleged that, on account of the po verty of the parishioners the defendant charged nothing for baptisms or churchings, and, out of his salary of £2OO a year, he had to pay £9O to the organist, beadles, &c. ; while the plaintiff, independently of the living of St. Philip's, the value of which is £4OO a year, received upwards of £9OO a year for his living at Woodchurch. It was contended that, in point of law, the action could no t b e ma i nta i ne d, inasmuch as the order in council did not provide that it should be the duty of the defendant to collect the fees claimed by the plaintiff, though it was undoubtedly his duty to pay over to the plaintiff two-thirds of the fees, in the event of his demanding and receiving them. A ver dict of £3O was entered for the plaintiff, subject to the , opinion of the court on a special case. LIVERPOOL : TUESDAY, DEC. 7, 1847. PRINTED AND PUBLISHED EVERY TUESDAY MORNING, y JOSHUA FLETCHER LACE, of 53 Grove street, and LEONARD ADDISON, of 14, Great Orford-street, At No. 4, ST. GEORGE'S CRESCENT, LIVERPOOL. Orders for Advertisements received by Messrs. Newton and Co., Warwick-square; Barker and White, Fleet-street; Deacon, Walbrook ; Reynell, Chancery-lane ; Charles Barker, Birchin-lane ; Joseph Thomas, I, Finch-lane, Cornhill ; Mun den Hammond, 27, Lombard-street ; Mitchell, 8, Red Lion court, Fleet-street; Lewis and Lowe, 3, Castle-court, Corn hill ; at the London Commercial Coffee-house, Mincing-lane; at the Jerusalem Coffee-house, Cornhill; Chapter Coffee house, Paternoster-row; North and South American Coffee house, Threadneedle-street ; Parsons, 9, Ave-Maria-lane. London ; Johnston and Co., Eden Quay, Dublin ; Wheeler, Exchange-street, and C. H. Lewit, Market-street, Manches ter; Haddock, and J. and W. Booth, Booksellers, Warring ton; Clarke, Pilot-office, Preston; and Wright and Dain. Herald-office, Birmingham ; Harthill and Salmond, No. 1. Prince's-square, Buchanan-street Glasgow. BIRKENHEAD ; TODHUNTER, Chester-street ,• LAW mi. PINKNEY, Argyle-street; OSBORNE, Cheater.street; sad 1. GRIFFITH, Hamilton-street. 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