The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1861-11-12 00:00:00

E rain ant) Commit;

AN EXAMPLE WONTET OF INITATION.—Mesers. Tay-
lor and Brothers, cotton spinners, of Wigan, who tul.
ploy about 20500 hands, have just lune.' the following
notice to thew operatives :-- ronseilUenee of the
civil war in America and the blockade of the Southern
ports, a supply of Ameriem cotton cannot for some
time be anticipated. The Mock of cotton which we have
held has enabled us so far to keep our :ail"a running full
time. %Ve now, however, Ii iuk it right to inform you
that, should American affairs remain in the etme posi•
ton in January next, av at present, we shell he then
under the necessity of closing our mills. We trust that
your pruden mace good sense will lead you to save what
you now can tor the time eben you May lie mit ot em-
ploynient."
EFFN TM OF TEIN WAR AT NEW YONIC—The import
trade of New York continues rapidly to decline, the
total for the month of September lest being only
7,305,461 dole. against 16,604,865 dole, in the *sine
month last year. Of the above as much a 51,131,012 dole.
consisted of 'peek and bullion, thus reducing the mer-
chandise to only 6,671,449 dole.
I NNULAND AND FNANCIL—The relative petition of
monetary &Hain at this moment in London and Paris
presents an unusual and singular character. Every-
thing as respects and connected with financial matters
,is as widely different as it is possible to ex:native. In
London money is extremely abundant. In Paris it is
: extremely scarce. In London there is little or no
demandlor it, while in Paris every one appears, to want
it. In London the value 44 money is only 2{ to 3 per
cent. • in lens it is as high as 6; to 6 per cent. While
the Bank of England finds scarcely any demand noon it
for discount, the Bank of France is all hut overwhelmed
by the pressure upon it. In the one cake depoeita secs- ,
mutate, in the other theyare rapidly diminishing. There
Ii en influx of gold in Loudon, and an efflux of gold in
Paris. As it is in them matters so it is in others. Here
we have too much capital and too little demand ; there
we me too little capital and too muctli demand ; anti the
attending circumstances are as unlike as iii. possible to
conceive. It is unnecessary to enter into any discus-
sion of the mums which have produced much curiously-
contrasted results. It is sufficient to notice the fact.
LARGE ARRIVALS or EAST INDIA COTTON IN
LIVIRPOoL.— Luring the lest fee days there have been
some large arrivals of East India cotton in the Mersey.
On Tuesday there were no less than five large ships
posted as having arrived from Bombay, having on
board 25,461 bales of cotton. The names of the
respective vessels, together with the number of bake of
cotton each ship brought, are t—The City of Agra. with
4,751 bales •, the Best, with 5,609 bales • the later,
with 4,990 bate.; the Langdale, with 3.4 bale.: and
the Earoelydun, with 6,616 balm. The Langdale weds
the voyage howe in 93 days. The quantity of East
India cotton now at sea, exordia; to late advices, is
134,694 bales against 55,812f0r the corresponding period
last year. . .

rho Bank Court held their weekly meeting on Thurs-
day, when, as expected, it was resolved to reduce the
rate of discount from 3i per cent„ at which it bas stood
for several weeks, to 3 per ceot., until further notice.
No one questions the policy of the proceeding, the only
expression being that of surprise that the alteration was
not effected earlier. Allowance has to be made for the
caution which it was supposed it was necessary to almw
In relation to the pointion of affairs in France, and
consequently no doubt the CUM of the delay. But
there now seems little prospect of the Bank improving
their discount business by the reduction, the bill brokera
being able still to compete with them at • price g to g
per cent., under llie official IN 4{11411114. The chief effect
of the modification will be to increase confidence among
the operators in produce, to give rather more firuineas
to the value of funded and other securities, and to
indicate that there is no immediate serious apprehoo•
liolll of financial panic on the other side of the Channel.
This latter circumstance is perhaps corroborated by the
rumour of the improvement in the situation of the
Bank of trance. The stern truth must nevertheless be
recognised, that this abundance of money arises from
the depression in trail*, which prevents available
resources finding proper eniployment In legitimate
mercantile chuaneis.