The Northern Daily Times.
Liverpool, Merseyside, England, 1856-01-07 00:00:00

GENERAL REMARKS.

The attention of all classes has been so much occupied
throughout the past year, with the varying phases of the
war, that its commercial operations have not been watched
and discussed with the usual care, and hence, probably, the
difference of opinions entertained as to its results. On this
account, and still more, as being our first entire year of
active warfare, it may not be uninteresting, briefly, to pass
in review some of our leading articles of import and distinct
trades. Our last annual circular closed with this remark,
t, we look forward with confidence to 1855 being a more
prosperous year Nnth the commercial class than the past*;"
and such undoubtedly has been the fact. In 1854, nearly
every leading article of import lost money, indeed, it was a
worse year to the merchant than was prudent to admit—
loss was the rule and profit the exception—in the last year,
the reverse has happily been the cage. To begin with cotton,
the import into the country has been the largest on record
(2,277,000 bales) with the single exception of 1852—two-
thirds of which has probably left a profit, in some instances
a very large one, to the importer, and we close the year
with the smallest stock since 1847, giving a consumption of
over 40,000 bales per week. Sugar, so disastrous in its re-
sults to importers in 1854, has been a highly satisfactory
trade, and during the latter part of the year has left large
profits from whatever quarter imported. Coffee has given
a better result on importations than in 1854, both from
Brazil and Ceylon, indeed must be classed as good. Tea
forms the only exception amongst our leading imports, on
which the loss has been heavy ; and what makes the fact
the more annoying is, the enormous amount of bullion
sent out for the purchase of these teas, to the serious detri-
ment of our money market. Silk has probably done harm
rather than good, with small exceptions. Indigo has paid
handsome profits to the inaportef, both to this country and
to France. Wool, both from Australia and Bombay, has
given a good return on a large import. Timber : Probably
in no article is the contrast of the two years so marked as
in this, the one being as successful (deals excepted) as the
previous year was disastrous. Those articles also, more
directly influenced by the war, which were noted as paying
well in 1854, have done so again in 1855, such as tallow,
hemp, and linseed, whilst the African trade, which was
then remarked upon as being probably the most prosperous
of the year, has again retained a front rank. If we refer
to particular trades, we find the American good, North
American or Canadian the same, South American (Brazil
and West Coast) satisfactory ; Calcutta a remarkably good
year, Bombay, Ceylon, Batavia, end Mauritius all good
taken as a whole, China and Australia forming the excep-
tions. Mediterranean, more particularly the Levant,
i a trade which a few years since seemed almost extinct, s
now most flourishing—indeed the Gold of the Allies is creat-
ing an opening at Constantinople and the neighbouring
districts, immense in extent, and likely to be far more last-
ing than the War out of which it has originated, and even
the trade with the Raltic, though of course much reduced,
has not been without its profits. Amongst our Home
Trades there has been great activity, notwithstanding the
war and the high price of food; probably the most
prosperous has been the Irou Trade. The make has
far exceeded any former year, and yet the consump-
tion and export have kept pace with it ; no doubt the
stimulus given to iron shipbuilding by the demand for
steam transports. and the large contracts for the munitions
of war have greatly contributed to this result. Its ally, the
Coal Trade, stimulated by the same causes, has been little
inferior in results. The Manchester Manufacturers, it is
true have not had a successful year ; the price of cotton,
coupled with the high rates of money preventing them
working to profit,'and had it not been for the unprecedented
demand for Turkey, stocks must have accumulated.
The Silk Trade has also been unremunerating, but the
Woollen Manufacturers have prospered in nearly allbranches,
far more so than in 1854. The Shipping Interest has had
another good year, except, perhaps, in cotton freights.
Last not least, the Agriculturists cannot complain ; and the
labour of the nation was never more fully occupied or better
paid. From the foregoing remarks it must be admitted
that 1855 will rank amongst the prosperous years of this
country, and that, not confined to one class in particular,
but widely disseminated through the community. What its
successor may prove, it is impossible even to conjecture—
peace or war will mainly determine its character. One thing,
however, in its favour, is the certainty of a most abundant
supply of cotton, the best guarantee of a large trade and
safe prices, though we confess we do not look forward to
the coming year, with so much confidence as we did the
last, simply because of the deranged state of the Money
market, and the higher range of valve attained by many
articles. Great caution is imperative.

HIDES.
(nom the Circular of Messrs. Tristram
Since we had the pleasure of addressing you, at this time
last year, the hide and leather :trade has been more or less
in a continual state of excitement, produced by various
causes; the result of which is that both hides and leather
have considerably advanced in value, the former to the
extent of 20 to 25 per cent., and the latter about 15 to n

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together have been sufficient, even in the face of the pressure
on the money market and the dearness of food, to raise
prices to the extent we have mentioned. The stocks on
hand, of both hides and leather, have, invariably, within the
last year been exceedingly low, and at times quite inadequate
to the wants of the trade ; but buyers, influenced by the
state of the money market, have generally acted with great
caution; the advance has therefore, been gradual and not
sudden, and attaches to it a stability which rapid advances
do not bear with them.
The present position of the Tanning and Leather trade is
one of momentous importance to all engaged in it; Raw
Hides having attained a value higher then has been known
within the last 25 years. We :commence the present year
with both the raw material and manufactured article at
exceedingly high rates, and it is, therefore, chiefly to the
prospect of events for the current year that all are particu-
larly interested. It seems to be admitted by all that the
present high prices are mainly owing to the war in which
this country is now engaged. The requirements for army
purposes are large, both for Raw Hides and Leather, and
this occurring at a time when the supplies of Foreign Hides
are below the average of the last five years, (as will be seen
on reference] to our tables annexed) naturally produces a
scarcity, and consequent advance in price. Apart from the
question of the war, the present state of the general trade
of the country is antagonistic to high prices of Leather—
money is scarce and dear, provisions higb,andwilolle
have
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in the manufacturing districts not fully employed ; this state
of things is principally produced by the war, and it is only
by a termination of hostilities that we can expect an
improvement in our position,—and the main question,
therefore, is what effect a return to peace