The Express.
London, England, 1861-11-12 00:00:00

UNIVERSITY INTELLIGENCE.

CAMBRIDGE. Nov. 11.

CitneIIfSCHOLARSIIIP. —There will be an examine,
Ike for tisk scholarship os Wednesday, the 20th November,
and (Mowing days, at 10 o'clock, is this Divinity Lectern.
room. The candidates may be }Mahelore of Arta of say year
under the stuffing of Master of Arts.

THB COTTON SUPPLY AND THE AMERICAN
WAR.

Mews. T. and H. Little(lode and Co., the well-
known nierehaate and broken of Liverpool, in their monthly
circular jest nested, remitrii:—" Each month adds inteasity
to the all-absorbing interest felt by every class of the com-
munity in the contest going on in America. Po!Meetly,
socially. and commercially, its importance can scarcely be
over estimated ; but the issue of the contest seems as inde-
finite as ever, and its termination instead of approaching
seems further removed each succeeding mail; and it now
appears doubtful whether any great bottle that might be
decisive is favour of the North or South, will be fought
before both sides will have to retire into winter quarters.
Too mach has been written sad said on the fearful loss and
distress to be entailed os this country by the struggle,
whilst subsequent advantages have been comparatively over.
looked ; and far from its being our interest to interfere, or to
violate any ioternational laws, for the purpose of obtaining
a supply of cotton-as the South seems to think we must
do, and the North seems determined we shall not do—it is
clearly to our ulterior advantage that the struggle should he
proleaged. No doubt the manufacturer of Lancashire will
suffer presoak lose, and the operatives be deprived of Gee.
half of their labour for some months to come ; but what
will this amount to, after the boundless prosperity of the
pest three years, compared with the permanent advances*
to both these classes of the nation at large, of being rendered
to a great extent independent of the American supply by
the whole tropical world becoming tributary to our waste?
Nothing but a permanently high price of cotton for one or
two
the
can produce this, aod nothing but • continuance
of the American blockade can secure this permanence.
Another very important compensation to result to this
country will he the opening of a direct free trade with the
South. so soon as the North finis it impossible to being bow
back into the Union, and wisely allows the severazoe to take
place. In the meantime, different articles of produce are
being raised in value from the American demand, and others
will follow, should °niers continue to come here instead of
to the countries of production. We have had an active and
general demand in our colonial markets during the month,
and primed most articles of import have advanced. Cotton,
wool, tea, coffee, jute, hemp, linseed, and saltpetre hare
snob been largely dealt in at improving rates."

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