The Express.
London, England, 1847-03-25 00:00:00

Vie trotell

N 0.177.) LONDON, THURSDAY EVENING, MARCH 25,1847. [3d.

folly answered, as a revenue measure, the anticipations of its
friends. The statement of the secretary of the treasury, pub.
lished last evening, shows the great/tog fact that the first
three months of the operation of the new tariff have wit-
nessed an addition to the revenue, collected at the sin
principal ports of the union, of more than eight hundred
and sixty thousand dollars over and above the amount re-
ceived at the same ports during the corresponding period of
last year of the tariff of 1842. Tileconstitutional treasury,
so long called for by the people, has been established, and its
capacity, • fiscal measure, has been put to the severest
test in the conduct of the fiscal operations of the government
during a time of war. There can be little doubt that it is re-
garded with growing favour by the people, though it is un-
questionably. to be regretted that acme very desirable amend-
mentsto it, including the establishment of a branch mint in
the city of New York, were lost in the Senate, in opposition
to the wishes of a large majority of that body, through the
ill-judged and frivolous interlerence of Mr. Senator Badger.
The ball for providing for the construction of four war
steamers of the first class, and for three distinct lines of
mail steamers—one from New York to Liversool, to
consist of five ships ; one from New York to New Orleans,
via Havannah, also comprising live ships, with a branch line
from Iravannah N Chagres ; and one front Panama, am the
Pacific, to Oregon, and the intermediate ports—will doubt-
less prove to be a measure of high utility. The organisation
of the Smithsonian Institute seas an act of justice to the
mrmoryof a liberal and public-spirited philanthropist, which
had been already too long delayed. It is to be regretted
that the consular bill, brought to the attention of Congress
at an early period of the last session, by Mr. Campbell, of
New York, has not been acted upon ; mad it is espe,ially a
matter of regret that the senate should yesterday hove failed
to pass the bill from the house providing for the establishment
of consular tribunals for the protection of our citizens in
China. The establishment of a Court of Admiralty at Key
West, in Florida, sober* as mods iiipsnroelos4 peoperty is
annually collected, is a measure much wanted, and will pro-
tect commercial interests from much inconvenience.

The legislation of this session, in view of the war with
Mexico, has been important, and though too long delayed,
will doubtless conduce to vindicate the rights and sustain the
honour of the country. The immediate warts of the treasury
have been provided for by the loan bill, which appears to be
most skilfully adapted to answer its purposes in avoiding all
sacrifice of the public credit. The army bill will send
new and most efficient fotce into the field, and permission has
already been made by law and by Executive action, to
secure for it the service of commanding ability in its guid-
ance and military organisation. The Three Million Bill, a
peace measure. so strangely opposed by the professed friends
of peace, and complicated en prematurely and unfirtunately
with other agitating questions, is now the law of the land,
and will he found effective, we trust, in facilitating negotia-
tions, and in aiding the vigour of our arms to bring the war
to a prompt and satisfactory close.
Of the great measures recommended by the Exeen-
five, two only of primary and pressing. importance have, so
far as we now recollect, failed to is cove at least, in some
modified form, the assent of Congre-s. These measures are
the bill for additional revenues, and the bill for the gradu-
ation of the public lands. They were at last included in a
single measure reported from the Committee of Ways and
Means, end bearing, as they both do, upon the paramount
interests of the country, and specially demanded as they are
in the present crisis, to aid in sustaining the credit of the
country, we Cala Ot too strongly express our regret that they
have failed to become • law. The democratic majority in
Congress has fallen far short of its usu a patriotism and fore-
sight in permitting these measures to tail.
Respecting Gen. Benton's qualification to command,
the f'ourrer and Enquirer says :
The public mind is painfully anxious about the question of
who is to lead the war in Mexico. If bisjorGeneral Benton,
who never beard a shot whistle but in a street tight at
Nashville, or a cannon roar in earnest but upon the day that
the gun of the Princeton burst, is to drive out of the field
such veteran, as Scott and Taylor, or his now superiors in
rank (Generals Butler and Paterson) there will he a storm
of indignation in this country. such as never buret upon an
executive before. The appointment Grouch a rum as Benton,
however distinguished in political life, to a military rank de
I served by General Worth, or General Woel, or by a dozen
others that could be named, is an outrage. He known no
more of the art of war than of the art of watchmaking; hut
in his idea of his own fitness there is an audacity that mimes
him think he is qualified for any and every thing.
There is no manner of doubt that Major-Gent ral Benton
was made • major general of, with the view of taking the
war into his own hands. Ile told the country, some time
ago, that he had a plan in his head that would settle thing.
in Mexico, but what that pled is he reserved for posterity—
not for us. It is hardly to be prwurned that Mr. Polk is so
insensible to the glorious reputation of both General Scott
and General Taylor, as not to know that the country will not
patiently submit to their being superseded by such a mere
politician as Mr. Benton ; hut over such a mind as that of
Mr. Polk, such a will üßenton's has a sway that can mike
it do its pleasure in the end. What that pleasure is remains
to be seen ; and we fancy it is to be regulated in • good de-
gree.by the estimation Mr. Benton puts on his merits and
qua tficatlons, an estimation never light.
The country have the greatest confidence in the military
I qualifications both of General Scott nod of General Taylor,
and they also have the highest confidence in each other.
They are friends and fellow-soldiers, and will harmoniously
co-operate the one with the other. Both have won their
position, too, not in the political field, in wordy warfare, bat
in the battle field, and by hard knocks, and both deserve
well for their services of the country. New, no new majors
general can have the confidence of their troop that they have,
and none can be rent there to take from them the supreme
command, without bringing hitter beartburninge where all
now is harmony. Not even the major-generals of Mr.
Polk's own creation, viz., Generals Patterson and Butler,
will put up with such • supersedeas, if they have within their
bosoms any of the spirit or pride of a soldier.
A lieutenant-general was • bad conception, when such
Generals as Scott and Taylor were in the field, but the idea
of making a junior major-general to take rank of four seniors
now in the field, is u foolish in conception es it would he
outrageous in execution. The only excuse Mr. Polk has for
indulging in it is envy of the rising fame of General
Taylor, and fear of adding laurels to Gt neral Scott,—
but such an excuse cannot be named. It is very true
that it is given out in eateries in Washington, that General
Scott is extravagant in his call* for supplies, but in due time
it will be found there is no truth in that complaint The vast
job before him of over-running such a republic as that of
Mexico is not to be executed without vast supplies, but it
will be found that the requirements, even, have not c'me
from him, and that others are responsible for them. Mr.
Polk will find, we trust, on further contemplation (and also
Mr. Benton), that the very worst way of preventing Scott or
Taylor's being formidable candidates for the presidency, is
to recall or supersede them in the conduct of the war.
- - • •-•

The Montezuma brings the important intelli-
gence from Baltimore that the House of Dele-
gates bad closed its sittings on the 27th of February,
after passing a bill for resuming the payment of
interest on the public debt on the lit of January
next. The vote was carried by the narrow majority
of 42 against 38. The 6 per cent. stock advanced in
consequence to 86.
The commercial news is satisfactory.
Cotton had declined, so had corn, and the flour
market was dull. The exchanges were still against us.

COMMERCIAL INTELLIGENCE.
NEW Yosx, MARCH s.—The markets were mostly quiet,
and presented little change since yesterday's report. The
uncertainty about freights tended to check operations. The
large number of vessels which arrived a few days since
(which it was believed at first would have reduced the rates
of freights) it seems, from the fact of many of them being
engaged previous to arrival, the expected decline was not
realised. Within a day or two easterly winds have again pre
veiled ; and a number of vessels being due, it was supposed
many were off the coast, ready to enter the harbour on a
change of wind to the south. In this state of
uncertainty, the rates to Liverpool, though nominally
the same, were rather heavy. Small sales of Gene sere
flour were made at 7 dole. ; southern was quiet at 6 dole. SOc.
to 6 dole. 75c. A sale of red Wheat was made at 1 dol. 60c.
Corn was 1-se firm. and sales were freely made, at 90c. to
92c. for southern white, and at 9.5 e. for southern yellow.
Prime northern yellow *old from 95c. to 99e. Provisions
were quiet at yesterday's rata., with some odes of lard and
clear middles of pork. Groceries were steady, with a fair
amoant of sales, if we except coffee, which continued dull.
Basantrttru.—Flour : Small sales of Geneseee, in store,
in all 600 to 800 barrels, were made at 7 dole., and 5,000
were sold, deliverable in all the month of Mar, at 6 dolt.
Howard-street was offered at 6 dols. 50a, and Philadelphia at
6 dots. 561 e. Wheat: A sale of a lot of New Jersey red was
made at 1 dol. 45 a., and a second lot of 700 to 800 bushels
do. at 1 dol. SOc. Corn The sales embraced about 10,000
to 12,000 bush. of Southern white, chiefly at 90:., and the
remainder at 92e. ; 3,000 ditto, Northern yellow, at
95c. ; 2,000 do. New Jersey yellow, at 96c. ; 2,000 do.
good sound do., at 98 to 99e. ; and 20,000 do. Western
State*, mixed and yellow, deliverable is June, July, and
August, at 71c. Cornmeal : We report sales in store of
2,500 bbl,., part purchased on account of the Irish relief
fund, at 6 dole. 61c. ; 2,000 do. sold, deliverable on the 20th
of April, at the same price ; and 1,000 do., deliverable in all
the month of May, at 4 dole. 181 e. Rye was nominal, at 92c.
to 95e. Barley do., at 76c. to 80c., and canal Oats firm at
60c., and New Jersey at 45c. asked. Beans: 60 barrels of
white P. Beans sold at 1 dot. 371 e. ; and 70 barrels do. sold
at 150 e., supposed to be for export to Ireland. 20 barrels of
Oamneal were in the market, and sold at se. per lb.
PROVIIHONS.—Pork was dull, both mom and pr:ste. We
quote mess et 14 dole. 60c., and prime, at 12 dole. 25e.,
without sales of consequence being reported. About 500
limas of middles, clear, were sold on private terms. Lard
was less active, and we report 86 bale. new, on the dock, at
10e. Beef ; There was no change. Cheese was steady, at
61c. to 71c., and for some lots, very choice, Be. was asked.
Butter was dull.
Rice. The market was steady, and sales made at
4 dole. 50e. fur good fair, and 6 dole. for good prima.
TOBACCO.—SaIcs were made at auction by Messrs. Girard,
Betts, and Co., as fallow.; 40 hhels. inferior Virginia, leaf,
at lie. to 21c. ;15 eases Florida, 31c. to 15c. ; cases Meal-
' can, 131 e. ; and 10 bales Havannah, 181 e. The Virginia
sold at 4 mot., and the remainder for cmh.

The stock of fine descriptions of Kentucky, for manidec.
%riot, are very scarce, and would command full rat, s. Thi.
aales gam our last embrace a parcel of 87 hhds., at from 4c.
In 61e. ; and 60 Wis. inferior lugs, at about 2c. ; 40 inset
Theida, at 16c. to 121 c., and 14c. for interior to middling.
by exaction : 40 hbds. inferior Virginia, at lic. to 21c., 4
I♦anehs. The following is the stock in warehouse, viz.:—
Ky. V.&N.C. Ohi. bid. Total
Mei en bend let Feb 1,619 929 43 21 2,61.
,12imaived since 226 25 .. ..
I•

1844 9.54 43 21 2,1102
Delivered duce 340 55 .. 11 406

Stack on hand Mar. 1-1,504 899 43 10 2,156
FIiSIOHTB.—To Liverpool flour was nominal at Bs. to
Ba. ad.; grain, in sacks, at 28d. ; and cotton Id. For flour
7s. to 7s. 6d. was freely fiend, and 26d. to 272. f.r
grain. It woo reported that some small lots of flour were
engsged in transient vessels at 75., and grain at 26d. To
Havre, we continue to quote flour at 2 deli. •, grain, sde ;
and cotton 2c. To London they remained without a change.
Corroe..-Since the departure of the Hibernia, our sear.
ket has receded quite as rapidly as it advanced the prey dow
month. For the first six clays after that date the sales continued
lame, but as holders seemed disposed to meet the viesse of
buyers., prices gradually became easier, together with a
tellies oft in the amount of sole., until on the morning
of the 10th inst. a decline of half a cent. was established.
About 2 p.m. on that day, we were placed in pos.
swim of four days' later accounts: of your market, by
OM packet-ship Admiral, from Havre; but as th;
ateamiltip Sarah Sarids, whose day of sailieg was the
20th ultimo, was telegraphed shortly after, business was
auspeaded until her adviees could lie received, which
beinglate in the day, and advising of a deeline of Id., •
eto all business ensued. On the neat day there
trenaniniegsq_pf any moment, ea all parties
.ap-
paarad taken by sum- !be, except freight owners, who rapidly
advanced their rates on grail., fur which any amount of
orders appeared. Under the famine excitement, our staple
at once lost its importance, and during the lollowing week
sunk daily in value with limited sales, until a decline of one
and • half cent., on the news per the Sarah Sands, was
established on Saturday the 20th inst., with freight at Id. ;
at which rate, in fact, only limited parcels could be en-
gaged. The Cumbria's arrival at Boston with dates to
4th inst., was announced late on the 20th instant by the
telegraph. Some delay occurring in the receipt of the
letter mail, joined to the departure of the Sarah Sands on
Wednesday the 24th inst., exporters as yet have not
appeared in the market, which has, however, assumed
more steadiness, chiefly from the fact that speculators
in the article appear to nave entirely sold out, and the stock
now is mainly in strong hands, who appear disposed to await
the time for the reciepts to fall olf,inl some abatement to
occur in the present enormous rates of freight. We reduce
our quotations from two to two-and.a-half cents., except on
the highest grade, for which prices are meetly arbitrary,
being now rather 'war than those existing on 31st December.
The sales for the week ending Gth instant, were 10,000 bales;
for the week ending 13th instant, 7.000 bales; for the week
ending 20th Midair, 4,000 bales. Since, to date, 2,600 bales.
The aggregate movements in the staple this season, cote.
pared with those in the previous two, have b. en as
annexed :—lteeeipts at ports of the U. S. since Sept. 1, 1846,
1,210,780 bales; Aarlle period last year, 1,162,247 ; year be-
fore 1,379,102. Exports from the U. 8 since Sept. 1, 1846,
498,121 bales; same period last year, 697,437; year before,
816,502.
The receipts at this port since the let instant have been
23.000 bales. Exports for name period, 8,700. Taken by
spinners, 13,000. Taken on speculation, 8,000. Stuck in
city, 40,000. Amount of sale, 8,000.
The current quotations in this market, at the close, were
as annexed :

.....---.....---...
N. Wean.
Uplands. Florida. Mobilo & Texia.
Inferior
Ordinary 0 10 alO Di • 10'
Middling
Good M.thllings lO, I 10 a 1 II all
Mlddlii.g Fair ..... - lO, 10 II •11 111 all
Yale lOl Ila It •11 It •12
Full Yaw . II 114 121 a 12
Good Fair
Fine - l3l II none. 134 •14
SOUTI/111111 MARKETIL—New ORLEANS, FEB. 22.—COT-
Toß.—The advice, by the Sarah Sands being little calculated
to give any animation to the market, the .akin have been
limited to 2,500 bales, at prices which have not transpired.