The Northern Daily Times.
Liverpool, Merseyside, England, 1853-09-27 00:00:00

MONETARY AND COMMERCIAL. I

O LIVERPOOL, MONDAY EVENING.
fur solo and foreign advices are of the most
reiat;_ raging character, with the exception of those
proill to the position of affairs in the East,—
anstralia, our dates by the Albatross come
int to
)4 4
ul, • .
40 17th of June from Melbourne, and
ay
Digo:wk. from Sydney. The news from the
of g 8 is most cheering. Increased quantities
13, gold Were pouring into Melbourne. New
Di gold
w •
est , were being discovered daily. The great-
gener7vity prevailed in trade, and business
generally
was progressing rapidly. Prices as last
fulledo, were fully maintained. The port was
Were ,SuiPS. Large arrivals of flour from America,
expeZlPted, and an increased importation was
sepe„-.7, • The prices of building materials were
of
high. Labour was scarce, and the cost
Roo,,,kgterage excessive. From Sydney, the ship
itud64l3' brings 7,000 ors. of gold The Medway
arnou Indiana were reported last night. The
Thl4 of specie they have on board is not known.
late —e news from India is unimportant. The
datea ti.re—from Calcutta, August 20 ; Bom-
W eAugust 30 ; and Hong Kong, August 0. India
goo quiet. Famine was still prevailing in Ran-
chi• The Burmese war was at an end. The
Fr se insurgents were advancing towards Pekin.
theC Egypt, under date September 19, we learn
ez„ government issued an order prohibiting the
leertation of grain from the 28th September.
WitPruhibition, however, may be delayed to the
0,7„ November, on the representation of the
1tt1.,811,15. Trade was good at Bombay, but slack
214 yaleutta. Exchange on London—Calcutta,
q,`Pu. 7 8.; at Hong Kong, 57,58.
The latest accounts from Constantinople state
~s,Saltan had refused to sign a declaration of war
o"c:ilia Russia. The Turkish and Russian armies
innePY the same position. The latter had been
ef;re,, ased to 250,000 men, by drafts from several
pra7e army corps. Owing to scarcity of shipping
300111„ had accumulated at Galatz to the extent of
I 'OO quarters.
It 11 our produce markets the advance in prices, and
of;,411 demand, continues for almost every article
u,,ered, which shows that the consumption of the
eessaxies of life has not been influenced as yet
b '
the recent advance on the rates of discount.
t s share market also opened with more activity
liar we have noticed for several days past. But
itards the afternoon, from some unknown cause,
became flat, and closed heavily.
6 n cotton a reaction appears to be taking place.
64 00 bales were sold exclusively to the trade ;
M°bales for exportation, No business whatever was
°ll° on speculation. The attendance of spinners
Unusually large.
/0)-t4Ooking to all these reports, from home and
u read, we are really at a loss to account for the
settled state our money market has been in for
te last month. The deficiency in the harvest is
e only existing cause of uneasiness. We shall,
therefore, direct our attention to this subject more
b'll eidarly. From all the information we have
,511 able to glean on the subject we would esti-
te the failure in our corn crops at about one-
Tlirth of an average yield of the United Kingdom.
I)o4.l_neet this deficiency we have an increase in the
pato and green crops, quite equal to our loss in
Ave But even admitting for a moment that we
oOf (0 import an extra supply, equal to one-fourth
,
large average production, our wants are not so
stat:44 to cause any alarm in our present active
Und et trade, and increased powers of production.
about ordinary circumstances we import annually
e, 64,000,000 bushels, of which more than a third
hue-1132:een already imported, leaving about 44,000,000
els still to be supplied. Now, if we double this
quantity to
hall r.
Ir make ample provision for our wants, we
-"e about 88,000,000 bushels, to carry us
ap to the
aboutstvanced Xs,Ouext harvest. This supply at the present
raoo7ooB
in the American market, would cost
0, and whether we are called upon
To pay this amount in manufactures or in specie is
quite immaterial, while the Bank of England holds
above of some £16,000,000 in bullion, over and
400Ve the present immensely expanded circulation
Of the country, and the constant influx of gold.
There is now no longer a doubt as to the possi-
bility of our being able to supply our own wants ;
We are therefore told that means of transit are not
10 be found, and that the immense wants of France
--trnutt.A.n fluence prices in this country, As regards
thetl,,,lleistion of transit, we find, by an official re-
reo,r,nelished in the United States, that the high
snel% --"s of 1847 had stimulated ship-building to
shi „,an inordinate extent, that the number of her
colt and tonnage had nearly doubled in 1848, as
freiptred with the year preceding the year of high
givt,").:".s. Since then the trade with California had
i'u a fresh impetus to ship-building, and at the
1., of 1852, the tonnage of the States amounted
1138,000 against 2,417,002 tons, at the close of
r, thus showing an increase of 45 per cent.
ieta the same report we find that means of transit
rr
li°lll the interior to the sea-board has been vastly
Athereased. Between the Western waters and the
Atlantic has since been opened the Northern line
fe44droads ; the New York Central line made free
a; freight ; the Erie railroad, connecting the lakes
ktPlinkirk, and with the Western roads ; the Pen-
11•1vania line, and the Baltimore and Ohio road
C a° Erie
to Wheeling on the Ohio, making. with
canal, seven avenues instead of one. In
th**7, the only great work which fed the lakes was
64,1 Ohio canal at Cleveland, which delivered
Iv 7, ;913 barrels of flour in 1847. Since then several
kr"ras traversing the Ohio have been opened. These
e all circumstances which tend to remove all
pellbts on the subject of transit, setting aside alto-
gether the other means at our disposal.
with respect to France, we believe that her
44, to, will be supplied at moderate rates to the
fell extent of her available means, without inter-
ilt`.'ng to any serious extent, with the supplies or
y"8 in our markets. Her wants for the pressing
of 1846-7, caused her to import about 5,000,000
tl3._ • the whole of which, she drew directly and in
i Ireetly from the Black Sea, with the exception of
ii,214 quintals of flour, from the United States.
40;",..ng the same source to draw upon again, it is
likely that she will compete with us, to any
ru;:ene extent, in the American market. With the
tk:Ts by which France is to supply her wants, we
not have anything to do, still if she should corn-
tiuto ith us, the extraordinary increase in the pro-
th".,oll of the States is more than equal to meet
prfeerland of both countries, and at moderate
sbath all these facts before us, we repeat again,
atWe cannot sue the remotest grounds for the
of --tr, Which prevails in this country. The arrival
kliehge next American mail, will put us in posses-
T 11,7, ot. intelligence on this important subject.
tar adverse state of the foreign exchanges, is by
eoutetale greatest difficulty with which we have to
etibi 1:1(1 at the presnt moment, and to this
deet we will allude in our next.

din„ LONDON CORN EXCHANGE.—MONDAY.
Cie Friday it has blown heavily from the W. and S.W.;
sr, 40'4 perfect hurricane, with occasional heavy showers
Shia
supply of English wheat to this morning's market
Illiop—'l4l. and disposed of at an advance of fully Ss per quarter
INN:" prices of this day se'nnight. Foreign met a lively
it the> at a similar improvement, but the market being excited
br
aCll°Pening prices were somewhat irregular. Malting a
d-
muAtiiii ° St the extreme rates of this day se'nnight, grindingan
1%1.0 are 1 to 2s per quarter dearer. White peas continue
)41.1 ‘'ati,l:tid Command our extreme quotations, grey bring an
dearer is to 2s per quarter. Beans are 2s per quarter
f.,
'at
"e'efewnew English Mazigans brought 39s per :quarter.
°f tot at an improvement of is to 2s per quarter. file top
krt 3:t" dearer, made flour is raised to 70s per sack, and barrels

he
SECOND REPORT.
tYer, g mornin the influence of country and foreign
444 de;:!4ed excitetnent and English and foreign wat 4s
—er• Town made flour, 70s. Other articles as before

a,"11 11
8 , •-
• 'IVRICANE OF SUNDAY.—The severe hurri-
I;ti,j);;;', jdZhich we were visited.. on Sunday, has caused
in many localities around Manchester, es-
-1411a1,4. )tre4tt —owden, Longsight, V. ictoria Park, &c., where
1,0ne,11. cis,e dahlias, and a
.considerable quantity of fruit
cotir''sesit stroyed by the
the,ind. In the.neighbourhood of
of vane at top of the spire of a church in
n as een
fill'ekess fr h cause.ometey bent and rendered
;le nearly tb tile same Yesterday (Monday) was.
1-°lll the INTC,ll(sl.lghout the day, but there was a strong wind
FAa West.
Ita„ CopA ACCIDENTf
ail , AT BIRKENHEAD.—On S aturda
Q04,?,40 resided at No. 4 Lester-street, Birkenhead,
-.(-411 the '„,‘a'rs, and was so seriously injured, that she died
%it e,ieets of the fall yesterday morning.
cas 34n
"of AIN GLASGOW.—It is reported that two
I,e;le,ra have occurred in High-street, Glasgow, a
'44k. j lavourable for bream every kind of infectious

AUSTRALIA.

ARRIVAL OF THE ALI3ATROSS.

BY the Albatross, Captain Geves; one of Messrs.
Gibbs, Bright & Co:s.agle Line of packets,
which arrived in the river yesterday afternoon, we
have adviceB &mil MelbOurrie to the 17th of June,
being, considerably later intelligence than that
brought by the last arrival from Australia.

The Albatross left Melbourne on the afternoon
of the 17th of June, and has thus been 101 days
in completing the passage, which, under the ad-
verse circumstances she had to contend with, is
one of the most rapid trips that have yet been made
by a sailing Vessel. She was becalmed upwards
of a Wiehth under the line.

The Albatross brings 65 passengers, but no
specie, as the owners would not undertake to incur
the necessary risk upon the current terms, which
are rather unfavourable. It is, however, under-
stood that the passengers have a large quantity of
gold in their possession.
On arriving off Holyhead on Sunday night, the
Albatross encountered the full force of the gale,
which at the time was raging with terrific violence.
The whole of the Ship's canvass, as well as the
shrouds was blown away. _ _ _

The " Medway" and the "Typhoon," both sailed
from Melbourne for London, before the departure
of the Albatross, but they had only two or three
passengers each on board.
The news brought by the " Albatross" shews
that great activity prevails in different parts of the
colony, and that commercial and general business
operations were progressing rapidly. There had
been very large arrivals of flour from the United
States, and other arrivals were daily expected.
The bay was full of ships, and labour scarce, con-
sequently lighterage was very dear. The prices of
all kinds of goods received by last arrivals, were
maintained, and building materials of every de-
scription were daily increasing in price.
The news from the diggings is exceedingly
cheering. Gold continues to pour into Melbourne,
and new diggings,were daily being discovered.