Northern Times.
Liverpool, Merseyside, England, 1860-02-18 00:00:00

NORTHERN DAILY TIMES.

and that the revenue should be collected on only twelve
articles, producing 29-30ths of the revenue. Almost
all this had been conceded to them. (Hear, hear.)
All that were retained were fifteen artieles—five of them
yieldiig from one to six millions; four yielding
£200,600 to £1,009,000 • and six yielding from
£30,000 to £200,000. The remaining twenty-nine
articles were kept up ; not for revenue purposes, but
because the chancellor supposed they had some relation-
ship to the other important articles kept, and that if the
duty were taken off they would unfairly compete with
those other articles. But, the great bulk of the re-
venue was to be raised from fifteen articles. He thought
that was as great a concession as could be made. (Hear,
hear.) Another important point was, that it did away
with all protective duties from the tariff, aid there was
not one remaining. Mr. Gladstone had told them that
protective duties had remained in holes and corners
for the last thirteen years. Now he ejected them
all. Then, again, it recognised the great advantages of
unfettering our trade—removing the restrictions from
industry, and thus increasing the wealth of the people.
Another important point of the budget was the total
abolition of the excise on paper. That was a question
in which the whole community were interested—in
which all parties were interested who wished to see edu-
cation made more available, and who were in favour of
cheap literature and a cheap press. 'lt would also, by
encouraging the establishment of small paper mills, give
large employment in the agricultUral districts. All these
were most important considerations, and Mr. Gladstone
had had regard to them in proposing the abolition of
the duty on paper, rather than the reduction of
other duties which might be equally important, but
which might not have the same effect in stimulating
the industry of this country. (Hear, hear.) Now, he
would throw it out as a suggestion, that it would be
scarcely worth while to occupy the meeting by questions
of detail, because the trades interested in them were all
alive on the question. They had sent deputations to
the Chancellor of the Exchequer to point out where
those little charges pressed unequally and onerously;
and they were all agreed that if they could obtain a
remedy on those little matters objected to, they ought to
see to it. In addition to this, they believed the Chan-
cellor of the Exchequer to be an eminently reasonable
man—a man open to conviction, and who would be
prepared to listen to those objections and to facilitate the
operations of trade. Speaking for himself he should have
preferred, if the Chancellor had put on none of those
small duties. It almost marred the graciousness of the
important concessions he offered. But he could not
believe that those charges would be so enormoua as had
been represented at public meetings; and so far from
the charge on tea amounting to one halfpenny per pound,
he could not make it more than one sixth of a penny.
In addition to that, there seemed to be another error in
the popular mind respecting the charges on the opera-
tions in the warehouse. There was a clause which
clearly stated that none of the operations charged applied
to goods delivered from bond for payment of duty or for
export, or removal from the warehouse under bond. It
was simply a charge in warehouse to meet private
arrangements. He would ask Mr. Bushell whether
that was not the reading of the clause

Mr. BUSHELL—Some of the clauses are so ambigu-
ously worded, that nobody can understand what they
mean.

Mr. ROBERTSON read the clause, which was as fol-
lows :—" Provided that when any such operation is
required for the purpose of removing goods from any
such warehouses, in any port or place, and in respect of
which the rates or charges payable on removal under
bond shall be paid, such operations shall be exempt from
the said rates or charges in respect thereof, and that
delivery out of warehouse upon payment of duty or for
exportation be not held to be an operation within the
meaning of this resolution." Now, he wished to
read to them the effect of the treaty with
France which was passed in 1786. He had pre-
pared the statement, and it was as follows :-
26th Sept., 1786.—Treaty of Commerce and Naviga-
tion between Great Britain and France.—The subjects
of each may import into the European dominions of the
other, in their own vessels, all goods not particularly
prohibited. Wines of France to pay in Great Britain
same duties as wines of Portugal. Duty on French
brandy reduced from 9s. 6d. to 7s. per gallon. Reci-
procal Duties—Hardware, cutlery, &c., 10 per cent.
ad valorem ; cottons, woollens, hosiery, &c., 12 per cent. ;
linens same duties as the Dutch linens pay in Great
Britain ; porcelain, earthenware, &c., 12 per cent. ;
goods not specified to pay the duties levied on similar
goods of the most favoured nation ; all other goods to
be free." The treaty was to last for twelve years. It came
into operation December, 1786 ; and was abrogated (by
war) February. 1793.
Exports from Great Britain to France, and Imports from
France into Great Britain, in the three years before,
and in the six years after, the Treaty of September,
1786. (Official values.)
Exports. Imports. Total British Trade
Of Brit. Of For. in the same year.
Year' Goods. Goods. Total. Imports. Exports.
£ £ £ £
1784 ... 141,794 162,813 313,999 141,568 15,200,010 15,100,000
1785 ... 244,807 359,505 604,313 211,791 16,200,000 16,100,000
1786 ... 343,706 268,812 612,519 266,124 15,700,000 16,300,000

Aver'ge.244,435 263,720 510,277 206,494

.787 ... 713,446 273,459 986,906 577,012 17,800,000 16,800,000
788 ... 884,099 375,571 1,259,672 452,986 18,000,000 17,400,080
789 ... 854,181 435,988 1,250,171 556,060 17,806,000 19,300,000
790 ... 535,583 337,039 872,823 605,371 19,100,000 20,100,000
791 ... 576,631 554,743 1,131,376 546,057 19,600,000 22,700,000
792 ... 743,280 484,885 1,228,165 717,634 19,600,000 24,900,000

Aver'ge.7l7,B7o 410,280 1,128,185 575,853
" 1. Before the treaty we exported more foreign than
British goods to France. Afterwards this was reversed."
" 2. After the treaty we nearly trebled the quantity
of British goods exported to France." [I say " quantity,"
because the official values had reference to arbitrary
prices, fixed nearly a century before, and really marked
only relative quantities in successive years.]
" 3. After the treaty, we nearly doubled our exports
of foreign goods to France."
" 4. After the treaty we *more than doubled our
imports from France."
Mr. BOOKER—That is just what we want. We want
the same treaty again.
Mr. ROBERTSON said these were the points he thought
it desirable should be considered in any general view of
the question, and he hoped they would pass the resolution,
expressive.of their hearty support of the great and im-
portant measures brought forth by Mr. Gladstone. He
hoped they would not stultify themselves in Liverpool,
by meeting those large concessions of the Chancellor
either in a carping spirit or a niggardly disposition.
(Hear, pear.) He thought the budget was entitled, on
many considerations, to more than a mere formal reso-
lution of recommendation, and that they ought to give
it their warm and hearty support. Don't let it be said
that Liverpool was behind the rest of the community,
and that when the whole of the country was standing
on the tiptoe of expectation with regard to those great
measures, that they should lag behind. He was glad
to move the adoption of the memorial.
Mr. Itlwurrs seconded the memorial, reserving his
remarks.
Mr. BUSHELL thought it would save time if each gen-
tleman who had a resolution to move would at once
hand it to the chairman.
Mr. FORWOQD thought such a course would be incon-
venient.
Mr. M'ConQuomAn said it was because this treaty
was, in his humble opinion, all one-sided, that he was
there to make a few remarks against it. If that treaty
had been made in London, in place of Paris, he believed
it would have been different. Now, the treaty bound
us for ever neither to prohibit the export of coal, nor to
put any duty upon it, whatever our financial wants or
political extremities. He contended that this was a very
objectionable part of the arrangement. He was, how-
ever, there to ask the Chamber, in any memorial it might
send with regard to. the French treaty, to do the paper
trade the justice of asking the Chancellor of the Ex-
chequer to delay the repeal of the paper duty until
France and other countries allowed a free exportation of
the materials from which paper was made. The motion
he had to propose was as follows :—" That this chamber,
though dissatisfied with the French treaty, proceed to
give that earnest consideration to the financial proposals
of our eminent townsman, the Right Hon. the Chan-
cellor of the Exehequer, which, apart from the external
circumstances, their intrinsic importance and wide range
obviously demand."
Some discussion took place in a matter of form, at the
conclusion of which the Chairman ruled that the pro-
position of Mr. M'Corquodale was to be regarded as an
amendment.
Mr. R. A. MACFIE seconded the amendment. He
denied that this scheme had met with that concurrence
in the country which had been inferred by some. The
order in which he intended to address them was this—
first, to advert to the negotiations previous to the con-
clusion of the treaty ; secondly, to the reason why they,
as a chamber, ought not to give their approval to that
treaty; and, thirdly, to advert to the particular position
which this discussion occupied in the country. He
would first allude to a series of papers which had

been laid before the House of Commons. In the first
of those, Lord Cowley said—" Count Walewaki was at
pains to explain that many articles would be admitted
at a less duty than 30 per cent., for which a specifying
tariff would be framed. He said, further, that the
French Government were bound by a public declaration
made two years ago to continue the present prohibitive
system until the Ist July, 1861." He had looked over
the treaty, and did not remember any articles but coal
and coke which were so favoured.
A Voice—A convention •is to arrange after wards.
Mr. Roszarsox-ILYou will find there is this article :
"Art. 19.—Each of the two high contracting powers
engages to confer on the other any favour, privilege, or
reduction in the tariff of duties of importation on the
articles mentioned in the present treaty, which the said
power may concede to any third power. They farther
engage not to enforce one against the other any prohibi-
tion of importation or exportation, which shall not at
the same time be applicable to all other nations."

Mr. Ma.crru—There was nothing in the treaty which
confirmed the promise given to Lord Cowley. The
second point would be found in the next passage :
"British coal imported overland to be admitted at the
same rate of duties as Belgian coal. Sea-borne coal to
be submitted to the present duty for five years, when
they would be assimilated to coal introduced overland."
He believed more liberal terms had in the end been
conceded ; but as it was, it was for the benefit of France.
The third point was, that "the duties on linen and
articles of that nature to be reduCed from 30 to 15 per
cent. ad valorem." He found no notice of that in the
treaty. The next point was as follows On the
other hand, the British Government to engage to admit
all articles of Parisian manufacture, and silks of all
kinds, free of duty ; to reduce considerably the duties
on French wines, and to admit French brandies at
laevlleudty
on spirits
should notiritsdistilled exceed
in Grea tie
Great
Britaeixnc.”is e
Theyduty
nearly took them off altogether at the request of
France. (Hear, hear.) He thought it was a laudable
change; but yet, whenever there was a concession from
us, it was to France ; hut whenever there was a con-
cession, it was from us and not to us. The further
observation in Lord Cowley's letter was this :—"But
before doing so it became necessary that his Majesty
should know with more certainty the views of her
Majesty's Government, since it would be useless to
discuss a question which, after all, might not be enter-
tained in England. The Emperor, therefore, had
desired Count Walewski to see me, and request me to
write, confidentially, to your lordship upon the
subject." Then Lord Cowley, in order to mark
what his impression of the matter was, said :—" I
have only to add that if her Majesty's Government de-
cide upon pursuing the negotiation, it cannot be en-
trusted to better hands than those of Mr. Cobden. The
merit of whatever may be effected will rest solely with
him, and it is but fair that he should have the satis-
faction of putting his name to the final arrange-
ment. Z could feel no jealousy on such an occa-
sion." He would now proceed to the next
letter, which was written by Lord John Russell;
and, after reading the extracts, every one would
be able to draw the necessary conclusions :
" Her Majesty's Government are of opinion that,
although the activity of trade,.and the constant demand
for labour in this country, are such as to leave no pressing
necessity for opportunities of extension, yet the enlarge-
ment of commercial relations, aliiays in itself desirable,
ought to be more peculiarly an object of desire in the
case of two countries prepared for such intercourse,
like France and Great Britain, by local proximity,
combined with considerable diversities of climate, pro-
ductions, and industry. But over and above these
considerations, they attach a high social and "political
value to the conclusion of a commercial treaty with
France. Its general tendency would be to lay broad
and deep. foundations in common interest, and in
friendly intercourse, for the confirmation of the
amicable relations that so happily exist between the two
countries." The meaning of that was, that we could
do, while our artisans were so well employed, without
getting a treaty from France, if that treaty was only to
be given on dishonourable terms. Then they began to
see the object for which the treaty was concluded, by
another sentence :—" And while thus makinc, a provi-
sion for the future, which would progressively become
more and more solid and efficacious, its significance at
the present moment, when the condition of some parts
of the Continent is critical, would be at once understood,
and would powerfully reassure the public mind in the
various countries of Europe." In other words, the com-
mercial treaty had a political intention. He found this
passage next :—" The changes which, on their part, it
will be proposed to make, will not be treated by them as
sacrifices, unless, indeed, in a fiscal point of view, of
llritish interests, to be compensated by similar sacrifices
on the side of France." Lord John Russell had fully
in view that if there were sacrifices on our
side, there should be sacrifices on the side of France.

"Her Majesty's Government are aware that, in the ease
of France, more time may be required; that the Empe-
ror is precluded by pledges which he has given from
repealing prohibitions until some period in 1861 later
than the Ist of July, and that even then he may be dis-
posed to descend, not at once, but by a succession of
steps, to the moderate rate of protective duty which he
intends ultimately to establish." That was a second
point in which they would observe that the just expect-
ations of Lord John Russell had been disappointed.
The next
.point was as follows :—" I repeat, that you
need not ask the Government of France to adopt a
similar promptitude as its general rule of operation ;
but you will press, with all your power, for the reduc-
tion of duty on some important articles of British
export, as essential in order to'realize in full the salu-
tary effects which her Majesty's Government antici-
pate from the contemplated treaty." He would"
leave them to guess whgther his lordship had
been met there. Now came another point :—" With
respect to brandy, the present duty is 15s. per gallon.
The lowest point to which, for any British purpose, hers
Majesty's Government could propose to reduce the duty,
would be 10s. per gallon. The duty on British spirits
made at home, under the restrictions of the excise, is Bs.
per gallon, and on British spirits brought over sea from
the colonies it is Bs. 2d. per gallon. The aim with
which this slight difference was introduced was•that of
establishing a perfect equality as between the Customs
duty on the one description of article and the Customs
duty, together with the estimated cost indirectly entailed
by excise restrictions on the other. Adverting to the
distinct nature and very much higher market value of
French brandy, and more especially to the interests of
the Exchequer, the Queen's Government consider 10s.
per gallon to be the proper duty. If, nevertheless, you
should find that by making a concession, even beyond
what-I have named, you can obtain from the Govern-
ment of the Emperor satisfactory arrangements for early
reduction of duty upon some important commodities,
you are authorised to engage for the reduction of the
duty on brandy to the same rate as that on British spirits
brought from the colonies, namely, Bs. 2d. per gallon "
They could easily see that her Majesty's Government
had been foiled in this point also. He would conclude
this part of his address by quoting the last part of Lord
Cowley's second letter : ' It only remains for me and
my colleague to express the hope that the generous and
philanthropic views which have mainly induced her
Majesty's Government to contract this treaty may meet
with their reward by drawing closer the ties of friend-
ship so necessary to the two great nations in whose
name and for whose interests it has been concluded."
They would agree with him, that it was very difficult in
a commercial treaty to act with two motives—
the one to be liberal, and the other to deal
fairly and equally. He believed the treaty
had been concluded with a considerable amount
of expedition, and not perfectly in accordance with the
wishes of her Majesty's Government. The English of
the treaty was this—" You, French, will charge 30 per
cent. ; we will charge nothing." That was to say, sup-
pose two houses in Liverpool were doing business, and
one said, " We will charge 30 per cent. for doing your
business, and you will do ours for nothing." (" No, no.")
The Emperor said, in' fact, " What I please, I will do,
and you will please to do what I am pleased to have
done." ("No, no.") He ventured to say that the
treaty on the Continent would be interpreted as a con-
cession of timidity. (Hear, hear, and "No, no.") It
had been said that this treaty had a great political
aspect; that it would bind the nations together
in amity ; and that trade was the great pacifier
of nations. He had his doubts of that. Fair
trade might do so, but not unfair trade. (Hear, hear.)
They mast also be prepared for dissatisfaction amongst
the working classes at home. If it came out, as it
must, that the want of employment in this country in
the various branches of labour arose out of the so
called free-traders thrusting this treaty upon the nation,
the people would rise up and express their meaning in
terms that would cause apprehension. (Hear, hear.)
He also predicted that the colonies would make their
voice heard as soon as they found that their mother-
couritry had ignored them in the treaty. On the other
side of the question, a great deal of confidence had been

expressed confidence that we could compete with
French manufacturers, although not placed on equal
terms with them. Now, the Star of the other day had
the following passagess in a leader : " Who can
doubt the ability of our iron districts, and of
Birmingham and Sheffield, to turn out articles
superior to any the French can make, and to
sell them in France with a profit, even after
paying 30 per cent. ? The articles of English manu-
facture that find their way to the ends of the earth, and
send back a profitable return, will certainly not be
stopped by such an impediment from entering a neigh-
bouring nation with a like profitable result. Machinery
of all kinds, and especially agricultural machinery, in
which France is very backward, must find a rich
market there." He believed that representation to be
utterly fallacious. He believed the French were very
clever manufacturers—very skilful, very careful, and,
in the end, always successful. The second ground
of confidence was, that free-trade contained in
it something of the element of a moral duty, and
that it did not rest on grounds of expediency. He
had bee'i a member of the Corn Law Leaoue, and he
hoped he would always be a free-trader. But be would
theh the
dtbretarteyaly
never be a free-trader where it was Impossible to be a
fair trader. (Hear, hear.) It was not a fair trade to
compete against 30 per cent. advantage on the other
side. (Hear, hear.) He denied that the opinion of the
country was in favour of the treaty; and quoted an ex-
tract td show that the Manchester Chamber of Com-
merce, while approvinc, of the budget, never expressed
hanjapappprorvoavlalofoft
;Haead
advised concluded b y
o n
the part of the members of the Chamber of Commerce
in assenting to the present treaty.
Mr. WILSON understood Mr. Macfie to say that the
Manchester Chamber of Commerce was adverse to the
treaty with France; but he held in his hand the pro-
ceedings of their meeting on Monday, and the first
resolution' moved by Mr. Heywood, expressed the
thanks of the meeting to Mr. Richard Cobden for his
services in promoting and negotiating the treaty laid on
table of the House of Commons on Friday. (Hear,
hear.) He also understood Mr. Macfie to say that Mr.
Bright had expressed an opinion adverse to the budget;
but he held his speech in his hand, and found that he
had said that the budget, as a whole, received the
enthusiastic support of every individual within those
walls,—(heat, hear)—and the only objection which was
implied in his remarks was that where he said he con-
curred with Mr. Dyer in regard to the gross and scan-
dalous expenditure. (Applause.)
Some discussion having ensued as to the course
which was to be pursued in discussing the question,
Mr. RAWLINS, who, in seconding the adoption of the
memorial, had resumed his right of addressing the
meeting, said he would not follow Mr. Macfie through
all the various arguments of which he had made use
against free-trade. He remembered when that gentle-
man was a member of an association for the abolition of
all protective duties; but he now appeared to have
chaivred his mind. The budget, he contended, was
garrying out the principles of Sir Robert Peel—to buy
in the cheapest market and sell in the dearest. The
Chanceller of the Exchequer had appealed to the nation
to give him all the information they could, and had ex-
pressed his readiness to modify the budget, if the modi-
fications were reasonable and just; and that lie was
earnest in this appeal he could himself testify, for the
moment the budget appeared it was pointed out to him
that lie was proposing to admit paper duty-free at once,
_ _

but to delay the suppression of the excise-tax until
July. In his letter which appeared in the papers
that day, he stated that such would not be
the course adopted by her Majesty's Government. It
appeared to him that they shou:d not look upon this
budget as an exposition of the principles of political
economy, but rather as the means of raising a revenue
to meet an expenditure which had been more or less
sanctioned by the people, or by their representatives in
the House of Commons. It was the most comprehen-
hensive budget which had been proposed since the days
of '42 and '46, when Sir Robert Peel proposed his
famous budgets. He would give his support to the
treaty, because it was not only one step but many steps
in the right direction, and annihilated the principles of
protection altogether. He entirely agreed with the
sentiments in the memorial, and more especially with .
that part of it respecting the excise'tax on paper : and
being connected in some degree with the paper trade
himself, he would express his unmingled satisfaction
at the suppression of that tax. (Hear, hear.) He
was truly at a loss to conceive upon what
principle that duty could he advocated, and
regretted that Mr. M'Corquodale was prevented
bringing forward his opinions on • that subject.
The paper duty had been condemned by our best
writers on political economy, from Sir Henry Parnell
downwards. Sir Henry Parnell obtained the appoint-
naent of a committee on the subject, and the result
was, that the paper duty was reduced to one-half of
what it was previously ; and what effect had that ? In
1836 the duty on paper brought in £BOO,OOO, and this
had now increased to £1,300,000. He alluded to the
large quantity of paper consumed in America, compared
with the consumption in this country, and pointed out
the restrictions under which the paper manufacturers
laboured, and concluded by expressing a hope that the
meeting would support the memorial, which had been
read.
Mr. MACFIE having said that he would withdraw his
amendmint in favour of the one which Mr. Bushell was
about to propose,
Mr. BUSHELL said he thought they had lost a great
deal of valuable time without coming to any
conclusion; and he suggested that they should leave the
discussion of great principles connected with the treaty
to those who would not listen very readily to their
opinions upon that point ; but who would listen most
cordially to any suggestion on points or detail. In
order, therefore, that these suggestions should be placed
in the best possible form, and seeing,'as he believed,
that the resolution of Mr. Robertson would interfere
substantially with the expression of their opinions, he
would propose "That this chamber, though dissenting
from many of the details of the treaty with France,
proceed to take into consideration the definite proposals
of the Right Honourable the Chancellor of the Ex-
chequer, which, apart from other circumstances, their
intrinsic importance and wide range obviously demand."
He had no desire to reject the French treaty, nor did
he consider that they would be justified in rejecting that
treaty, but he did believe that they, as practical
men, should consider important details, in order that
they might pursue a practical course ; and instead of
first giving a complete and substantial approval of the
measure, should adopt the resolution he had proposed.
• Mr. CIIILTON thought the memorial which had been
laid before them was much more in place, and would be
much more advisable to adopt, than the amendment.
They were there as a general chamber of commerce, to
consider the French treaty ; and the best mode for them,
as a general body, was to consider the principles it con-
tained, and not details, which it would be more fitting
for separate associations to consider. (Hear, hear.)
He might say for his own part, speaking as a ship-
owner, though not in any way representing the
Shipowners' Association, that he thought the
memorial which had been drawn up, and submitted,
was an exceedingly fair one. It was too late at that
hour to discuss the principles of free trade, but there
were different climes and different abilities, and be
thought that each nation should produce as much as
possible, and exchange its productions with others.
(Hear, hear.) The shipowners generally, he
believed, made a great argument with regard to
reciprocity. He conceived that those were argu-
ments which could be used in favour of pro.
tection, as well as in favour of free-trade, but
as far as he had been able to discover there was no
logical argument in favour of reciprocity. (Hear,
hear.) Therefore it might be an argument with
France that their interest was to protect their com-
mercial navy ; but, with regard to the argument of
reciprocity, it apppared to him that if the clause which
was introduced into the Navigation Bill, that any
country which refused to reciprocate, should not par-
ticipate in the advantages offered, Norway and
Sweden, who could compete with England, would
reciprocate with us, because they could .fairly compete
with us; but France, Spain, and other countries, which
could not compete with us, would say, "We are thankful
for what you have offered us; but if you come to us and
say you shall not have it unless you throw open your
shipping," they would be obliged to say, "we cannot
reciprocate ; we will protect our commerce, and leave
you to do as you like." But, with regard to the treaty
before them, it appeared to him to strike at the root of
the whole matter. Whilst no other country could
afford to throw open its shipping to this country, if it
did bring in free-trade at all, it would be in the way of
afterwards giving us a fair chance for our shipping.
(Hear, hear.) Shipping was, he believed, the last thing
which France would withdraw her protection from.
She must withdraw her protection from everything else,
and then, ho believed, as a last thing, she would give
(Continued in Sixth Page)

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On account of whom it may concern.
On Tuesday next, the 21st instant, at One o'clock, at the
Broker's Office, Victoria-buildings, Hackin's-hey,
31 Ballots Alpaca
36 Do. feruvian Sheens WOOL,
5 Bags fine Black Spanish
ex Chiloe, Taina, and Frankfort. Damaged by sea water.
Apply to PERKINS & 11,08 I NSON, Wool Brokers.

On Wednesday, the :2ad instant,
street at the Brokers' Sale-room,
Chapel-,
200 Bales Angola ORCIIELLAWEED,
Ex Braganza, from Lisbon: Apply to Messrs. Leech, liar-
rison, and Forwood, Merchants, or to
R. L. CLARE, Broker.

On account of whom it may concern.
On Wednesday next, the 22nd instant, at Twelve o'elock, at
the Public Saleroom, Exchange-buildings, •
130 Bags PRPPER. and Damaged,
A Quantity of Bundles (and loose) RATTANS
ex Charles Brownell. from Singapore; lying in No. 11 transit
shed, west side Prince's DDock. Apply to
• S.DUTTON & NEPHEW, Brokers.

!ouilt of whom

On Wednesday next, the 22nd in,tant,.atTwolve o'clock, at

the Public Saleroom. Exchange buildings,
•
1200 Bass (more or less) GAMBIF.R, Damaged,
450 Bags 1)0. SAGO FLOUR, Do.,
ex Charles Brownell, from Singapore : lying in No. 11 Shed,
and on the quay, north-west side Princes Dock. Apply to
S. DUTTON & NEPHEW, Brokers.

For Bacon there is a good healthy demand, and
for so far there is no accumulation of stock, there
are, however, symptoms of the advance checkiug
the consumption. With a large country demand
for Lard prices have advanced. Of the late arri-
vals of Cheese the greater part has gone into
bond to await the result of the proposed reduction
of duty, hence there has been less doing.

LONDON STOCK 'EXCHANGE.
Friday Evening.

In the market for English Securities to-day a
better feeling prevailed, which has resulted in a
rise of I to w per cent. in the value of Consols
compared with lasVnight's quotations ; there is not,
however, a large amount of business doing. Con-
sols for Money are now 941 to a ; and Z- for the
Account. Bank Stock has been dealt in at 231.
Reduced Three per Cents., 94• and 95 ; New
Three per Cents., 941 a and 95; India Debentures,
971, 4 and I ; Enfaced Rupee Paper, 971 ; India
Bonds of £l,OOO, Is. and 4s. pm. ; and Exchequer
Bills, 235. and 265. pm.
The English Railwdy market, to-day, shewed
little activity, though the current prices appear
to have been fairly supported. South-Easterns
are a fraction higher, and South-Westerns have
risen -1 per cent. Other varieties remain un-

changed.
In the market for Foreign Securities there was
scarcely any dealing this morning, and business
in this department is almost at a stand. Original
Turkish Six per Cents. have realised 791 and 79,
and the New Sixes, 667,, both for the account;
Sardinians are steady at 85, and Spanish De-
ferred at 31.

New Indian Five per Cent. Loan is quoted

103' to r,24-

Canada Scrip is 2 to 1 pm.
Turkey Bank Shares are H to -1 dis., and Ocean
Marine 2k to pm.
French Rentes have been quoted 67f. 55c., and
subsequently 67f. 70c., with a firm market.
Tne royal mail steamer Parana has arrived
from the West Indies, with specie to the value of
£93,250.

Letters by the next Calcutta and China, mail
are expected to reach London on Saturday

morning.
The Board of Trade returns .for the month
ending the 31st December, and the year ending
the same date, show a large increase, the figures
for the period being—for the month, X 10,827,242
against £10,058,769 in 1858, and £7,148,041 in
1857. The respective totals for the year have
been £130,440,427 in 1859; £116,608,756.in 1858;
and £122,066,107 in 1857.

THE FUNDS.-C]
Consols, Money 943,1 .7;
„ Account 94a
Exchequer Bills 23 6,

.OSING PRICES.

Bank Stock . . . 229 31
Three per Cents.. 94Z- 5

RAILWAY SHARES..
Amb. Not. &E. J. 6,', IZ-
Caledoniatis .. . . 961 4;

-CLOSING PRICES.
Lancas. & York-100k ?4-`
L. & N. West... 99+ 1
L. & S. W. .... 924 3,;
Leeds Northern.. 474 I
Man. Sheff. & Lin 38 1
Midland Stock ...108
North British
N. Staffordshire..
S. E. & Dover ..
York, N. & B. .. 93 1
York & N. Mid... 761 71

Dutch Rhenish . .
Eastern Counties. 577-, 81
East Lancashire.
Edinburg & Glas. 81 2
Great Northern . 108 i 9

7, A. 97 8
I,
Gt. Westerns .... 681-, 94-
G.W.Canada... 121 1
G. Tk. Canada .. 84,
Gt. S. & West..

BANK OF ENGL
(From Last IV
ISSUE DEP
DEZIT. 2 I

~AND RETURNS.
right's Gazette.)
i'ARTMENT.
CREDIT. £
Government Debt.. 1.1,015,100
Other Securities .... 3,459,900
Gold Coin and 14 389 545
other Bullion... '

Notes isVueci 28,864,515

£28,864,545

£28,864,545

IEPARTMENT.
CREDIT. £
Govt. Securities 10,171,190
Other Securities 21,084,139
Notes 7,873,400
Gold and Silver Coin 715,742

full rates. Surat in moderate request, without change
in price. The weekly sales are X 0,970 bales, of which
3,510 are er..sr,',3zulitti:;n, arid i,.%`.0 =port.

LIVERPOOL PRODUCE.

SUGAR.—We have no alteration.lo notice in the mar-
ket. The salcs are confined to 4,500 bags Maceio at
245. 6d. per cwt.
In MOLASSES nothing has occurred.
flux.-90 puncheons Demerara are reported, without
change in prices.
COFFEE, RICE, OR SALTPETRE.—There is nothing to
notice.

JUTE.—The chief part of the Jute advertised for sale
was withdrawn, and only the damaged portion found
buyers. _ . _

LINSEED.-360 bags Bombay, at 525. per quarter.
SAGO FLOUR.—That offered at auction was with-

drawn.

DYEWOODS.-20 tons Laguna Logwood, at £6 7s. 6d.
per ton. 30 tons Barwood, at £3 15s. per ton.
DRYSALTERIES.-19 casks Cream Tartar, at 140 s.
10 tons Tartaric Acid, at Is. 114 d. per lb. 10 chests
Garnet Shellac to arrive, at 185 s. Sales of Nitrate of
Soda, at 14s. 6d. to 16s. 6d. for low to fine.
OILS, &c.—Palm, £46. Tallow : Market cleared of
yellow candle, and little of other sorts offering. A
good business done in Olive Oil at full prices, in some
cases at an advance. Sales of American Lard at 615.,
and of Tuscan to arrive at 575. per cwt. 400 barrels of
common Rosin at 4s. 6d. per cwt. 150 barrels Spirits
of Turpentine at 365. 6d. on the spot, and 50 barrels to
arrive at same price.