The Northern Daily Times.
Liverpool, Merseyside, England, 1853-12-19 00:00:00

MONETARY AND COMMERCIAL.

LIVERPOOL, SUNDAY
By the arrival of the steamers Otinda,,at Cork,
and Great iVestern at Southampton, we have
received advices from Rio Janeiro to the Ist, Buenos
Ayres the 2nd, Monte Video the sth, Bahia the
19th, land Pernambuco to the 22nd ult. The
Brazilian Chamber of Representatives had under
its consideration the drafts of a law involving
important modifications in the tariff. The
measure provides that the duties of 35.40
and 50 per cent. shall be reduced to 25 as the
maximum, whilst the absolute prohibition of from
Si) to 90 articles of home production is to be en-
tirely abolished. No doubt was entertained, but
that this important free trade movement would be
accomplished, and the Buenes Ayres British Pac-
ket thus speculates upon the result : " Some mem-
bers appear afraid of cutting too deep, especially
as regards protection to local manufactures and
products. Instead of one sweeping stride from 35
to 15, a few would prefer dividing the distance,
and making a temporary halt at 25, and amongst
these the Minister of Finance, ou the double score
of revenue in the mean time, and a considerate de-
terence to vested interests. With its present
compromises and encumbrances, and the total
want of anything deserving the name of
a general system of finance, the question of
revenue is a grave and stubborn matter of fact to
which theoretic predilections must give way for a
time; products of art or industry, we hold, on the
authority of very recent experience, and on a grand
scale, to be more specious than real. The aboli-
tion of the corn laws in England, did not over-
whelm the landed or agricultural interest, as many
anticipated, and confidently predicted ; on the
contrary, landed property has risen in value, arid
agriculture made gigantic strides since that period.
Subsequently the very same results have ensued
with respect to the shipping interest, despite the
sweeping reform of the navigation laws. We quote
these cases to tranquillise parties who may fancy
their interests menaced by the pending measures.
When the first panic has subsided, they will get on
we dare say equally well, perhaps better, under a
general system of freedom arid wholesome corn
petition, than under the hollow and often fallacious
system of protection. On the score of revenue,
therefore, we would counsel the acceptance of 25,
as an instalment, or the least of two evils; but
with the express understanding, that these protec-
tive duties must eventually be reduced to 15, or
even a lower figure. This principle should be
d'stinctly recorded in the present law, as a timely
premonition to individuals, to make the necessary
arrangements."
The overland mail supplies three days later news
from Australia than that received by the Victoria,
the dates from Melbourne being to the 27th, and
from Adelaide to the 30th September. At the for-
mer port, the price of gold had declined on the
closing of the business for the Victoria, but a
demand having sprung up for : shipment by the
Shanghae, which could not be supplied ; it was
last quoted at 765. 6d. Labour of every descrip
tion was still scarce

The private advices by the West India mail are,
upon the whole, of a favourable character. At
Jamaica, during the previous fortnight, the
business had been rather restricted in conse-
quence of the high prices generally demanded.
The House of Assembly have abandoned their in-
tention in respect to the excise on spirits, alluded
to in previous advices. From returns furnished to
the House of Assembly by the officers of the cus-
toms it would appear that the amount of duties,
rated and ad val., which would have been paid on
goods imported into the island generally from Ist
May to 10th October of the present year, had the
Import Duty Bill been in operation, was

£136,545 13 0

10,817 10 2