Northern Times.
Liverpool, Merseyside, England, 1859-04-30 00:00:00

sprung up of the great bodl

political rights. The age of ther civil
ie commonwealth, is that of the birth of
__..cy in England.—of the princi-
abouring classes, as well as their superioh
have a voice in the legislation. It cannot
1, perhaps, that this doctrine has been
illy recognised in any of

emocrac

the consti-

iutions through- which the country passed be-
tween the destruction and restoration of the
ancient 'crovernment; and it may be that it has: not
either been so recognised to any considerable

,ries the spirit of democracy, understood in this
has been a living and active principle of
ish politics, and the growth of opinion in favour
pular government has been such that no system

FA ve..4
s than that of its tendency, if not to place
in the hands, at least to promote the welfare

at ttie great mass of the population.
.From the period of James the First, therefore, we
ay date the commencement of the political em-
ancipation of the labouring classes. And this single
Ile of the birth of true democracy in the earlier
pert of the seventeenth century may be taken as a
sort: indication and evidence that the general social
knproveinent of the country had by this time pene-
trated down from the middle to the working .classes,
and that the condition of the latter was
row beginning to be elevated by the extension of
trade and manu

in the same manner as that
r had been in the preceding century.
_ _
-hout two-

)0 no do.

)t, indeed, that throu

period. comp'

and the earlier

o tilt; _e of the
part of that of Charles.

pop ulat

of England were in the

re of comfort than h

lot in any former agE

the eonsequene-e of the 'V%

t or El

h, and of t

the union of th; two divisions of

ingdom and

to the iut

11 quiet of both

rs meat, however, still forme
on of the diet of

an in c onsid

.gricultural labou

houses, and of those that "goe in good clothes and
fare well, and none knowes whereof they live ; those
that be night-walkers, builders of cottages, and takers
in of inmates." That the laws for " apprenticing of
poor children' be enforced ; and that where any
money or stock has been, or shall be given to the
relief of the poor in any parish, such gift to be no
occasion of lessening the rates of the parish. That
wandering persons, with women and children, give
an account to the constable or justice where they
were married, and where their children were
christened; for these people live like salvages,
neither marry, nor bury, nor christen, which
licentious libertie make so many delight to be
roues and wanderers."
'This year is also distinguished by
expedient for relieving the poor, which was recom-
mended to the inhabitants of the metropolis in a
royal proclamation issued for preventing a dearth
of corn and victual. It was an old custom still
observed in the royal household, by the principal
nobility and gentry, and in the universities and inns
of court, to take no suppers on Friday or the eves of

a singular

fast-days, nor Wednesdays and Saturdays in Ember
week, nor in Lent ; the proclamation recommends
the more general observance of this custom, and
that the meat be appropriated to the relief of the
poor.

From expressions in the act against tippling, it
appears that, at this period, it was common, even
for country labourers, both to eat their meals and to
lodge in inns and alehouses ; but it is uncertain
whether this mode of living was occasioned by the
statute of Elizabeth which prohibited the erection of
cottages, and the statutes of inmates (which I alluded
to in the previous chapter), which limited the number
of inmates in a house to one family ; or whether it
was an intermediate state in the progress of society
from the absolute dependance of the slave on his
master for diet and. habitation, to the improved
condition of the free labourer, who, at present, rarely
resides under the same roof with his employer.
Among some of the measures of King James's
government, favourable to industry, may be specified
the encouragement given to useful discoveries, by
vesting for 14 years the exclusive profit of a new
contrivance in the inventor. Those hurtful
monopolies alluded to in an earlier part of this
work were also checked by him—giving exclusive
rights of foreign trade—by a law enabling
all persons to engage in continental trade. Agricul-
tural interests were promoted; and the recovery of
debts was facilitated by the abolition of Sanctuaries
and the establishment of Courts of Conscience.
Other statutes were of a moral as well as industrial
tendency. But the great measure of the time, and
that productive of the most lasting benefits, was the
settlement of colonies beyond the Atlantic. The
discovery of America in the last reign awakened a
thirst of maritime adventure by whic the English
soon became distinguished in the persons of their
famous navigators—Drake, Raleigh, Baffin, and
others ; and, as a consequence of their discoveries,
there followed, in the reign of James, factories and
Ind the opening up of new branches of
commerce in distant and hitherto unknown climes.

colour

luthor reserves to himsey
f further.pullication or translation.]

zrtieles being Copyright, the

LIVERPOOL BANKRUPTCY CO

In Be EDGAR Auc

towing judgment on this

certificate, which was h

;d this, which was a case of certif

aents which 1

ruptcy, before tb

TERDAY

s Honour deliverei

application for
:—I have con-

Ite, and the

been adduced as well on the part- of
assignee, by his counsel, Mr. Deighton,

Mr. Aspi-
his present bank-
and he obtained his

pt, by his counsel,
1, befo:

r bankruptcy his estate paid no dividend to hi
he having sold his business before his

MONETARY AND COMMERCIAL.
LIVERPOOL, Friday Evening.
There has been rather a better feeling in the
Liverpool Cotton Market to-day, and the sales
amount to 4,000 bales, but there has been no improve-
ment in prices, which are from a farthing to three-
eighths of a penny per pound lower than last week.
Messrs. Wright, jun., and Co.'s circular says---
. .

Since the 21st inst., the date of our last circular per
Niagara, most of our produce markets have been extremely
quiet, and transactions greatly circumscribed. Apart from
the Easter holidays, which usually interfere with business
about this time, the approaching parliamentary elections
have tended to curtail mercantile operations ; but both these
causes are considerably aggravated in effect by the political
aspect of affairs, which has now assumed so threatening an
attitude, that all hope of. war being averted is abandoned.
We may, indeed, hourly expect intelligence of the com-
mencement of hostilities, and so formidable has become the
interest involved, that all Europe is expected to take part in
the struggle, however contrary may be the opinion of indi-
viduals. As a matier of course, a cautious action pervades
all classes, and in Cotton the demand is confined to small
pareels for the immediate wants of the trade, prices showing
much irregularity, holders all eager to realise, and a
species of panic prevailing. The funds and pub-
lic securities are violently agitated, and a serious
decline in quotations must be noted in consols, rail-
way shares. &c., while an increased demand for money
accommodation has enforced the necessity of raising the
bank minimum rate of interest to 31 per cent., which does
not check the drain of our precious metals, and war require-
ments are not likely to improve their condition. To-day's
political reports are more favourably reviewed, and have
had the effect of checking the panic feeling. Distrust and
apprehension are, however, the ruling features, and business
is restricted to retail transactions. The sales of Cotton are
estimated at 4,000 bales at irregular rates, and although
quotations are only reduced Id. to lid. per lb. durinc, the
week, holders, desirous of realising, would have to submit
to a greater decline. The total sales of the week (five days),
including what has been forwarded from the ship's side,
amount to 30,020 bales, of which 24,640 are American.
Speculators have taken 600, and Exporters 2,330, leaving
27,090 bales of all kinds to the Trade. The imports for
same time is 24,229 bales, of which 18,812 are American.
The quantity known to be at sea from American ports is
about 279,000 bales.

PRICES

New Orleans Fair, 74d..... Middling, ...Gad..'.. Ordinary, 4.7-A to 61d
Mobile „ 74d. 9 9 6id sid to 61d
Atlantic „ 7d. 6 Sad , 5,d to 61d
Total taken for consumption, 1859, 711,070 bales.lBsB, 714,490 bales.
„ export (actual) ' , 69,925 , „ 46,535 „
American Brazil Egyptian E, India W.lndia. Total.
Stock this day... 351,300 11,840 22,650 35,050 260 421,100
Same time, 1858.385,910 26,240 12,750 60,860 2,590 488,350
Messrs. Edmund Jardine and Co., in their circular

The alarming and hostile position which Austria, France,
and Sardinia have now assumed, seem to have banished all
hope of a pacific solution of their difficulties, and produced
a general fear that war once commenced between these
powers would endanger the peace of the whole Continent of
Europe, the effect produced upon the Funds and other
public securities has been very serious, the depreciation
varying from sto 10 per cent. Our market during the
past week has been entirely controlled by these political
combinations, and during the last two days almost suspend-
ing business, the transactions throughout have been on the
most limited scale, and prices have been very irregular at
a decline of id to Kd per lb below the quotations of Thurs-
day last for Anierican descriptions Brazil, Egyptians, and
Sea Islands have been in small demand, and slightly in
favour of buyers. Surats have been much pressed, and are
-kd to id lower. -

In Consequence of the threatened war, the PrOdUce
Markets have teen very unsettled all week. In

Ashes, sales of 300 barrels are reported, at 31s. to
31s. 6d. for Pots, and 325. for Pearls, per cwt.
About twenty hogsheads Philadelphia Bark—firsts
at 10s. ; and 1,200 bags Baltimore, in bags, at 7s. 9d.
to Bs. per cwt. have been made. Bees' Wax would com-
mand 9/. ss. per cwt., but there is no stock here.
Limited sales in Cloverseed are returned at 495.
to 535. per cwt. Timothyseed is not inquired for,
and price nominal at 295. per cwt. Lard is in im-
proved request ; 40 tons realised 58s. to 60s. per cwt.,
and price tends upwards. Linseed Cake is dull, the
season passing over; thin oblong nominally 8/. 10s.
per ton. Common Rosin Amber has receded to 4s.
2d. per cwt.; sales about 3,000 barrels.
Tallow has materially advanced, and present value
is 58s. to 60s. per cwt. About 800 barrels Tar
realised l Os. 9d. to 12s. per barrel, according to size.
Transactions in Turpentine confined to 100 barrels
Spirits at 425. 6d...per cwt.

to 4s

-The Corn Trade is everywhere on the advance.
The rise in the price of Wheat
...9.LEalc.,elAdiituojay
higher. Other articles have increased in price in a
corresponding ratio, and the greatest excitement
eneraily prevails in the trade.
_ _

The extreme panic which characterised the Liver-
pool. Share Market on Wednesday and yesterday
has, in a great degree, subsided, and prices for the
leading lines of Railway stock have considerably
improved, with a fair amount of business. The
transactions to-day were as follows :—Eastern Coun-
ties, 101, 101, 10, 10 5-16, 101 • Lancashire and
Yorkshire, 87, 861 e, 87, 871, 87; London and North-
Western, 87, 871, 87 ; Do. one-eighth Shares, 11,
c, 1 13-16 d; Manchester, Sheffield, and Lincoln,
34, 341, 341; Midland, 961, :96+ ; South Eastern,
18+, 181, 18 3-16 c, 18t ; Dutch Rhenish, 61, 7 cd
Grand Trunk of Canada. V.: Grpnt

. „,
After official hours a few transactions were reported,
and included Chester and Birkenhead. 611; and
London and North Wngtnri rz Q/ rPI. .0- 1 1 •

uww rw c,oaliia, ill, or. inn following
were the final closing' prices :—Blackburn, 11',
111 ; • Chester and Birkenhead, 61, 611 ; Cale-
donian; 721, 734-; Eastern Counties, 101 101. East
T.annn.i,;,.,-, /-1 • „

_ ,AL ei.iL iNorthern,
.., 82 ; Great Western, 514, 521 ; Lancashire
orkshire Stock, 861. 87 ; Loudon and North
.ern Stock rs— ; ---n_e-eighth shares, IT-7„
.A, and Lincoln, 341,
)6 ; North British, 51,
, 4'l d; North Eastern
1 North Midland, 70,
43; South Eastern
7, 6• d ;

)o. A., 81

96, 98

1, 87 ; Do. onp•

lanchester, SI

lidland Stool

many weeks have elapsed, should the adverse ele-
ments which have dictated the present movement
continue in operation, Remittances of silver are
now being made to the Continent, as well as gold ;
and although there were no withdrawals from the
Bank yesterday, it is expected that the efflux will
be renewed on an extensive scale. Hostilities, more-
over, will have the effect of diminishing confidence,
and creating stringency in the Money Market ; so
that financial as well as commercial prospects have
been seriously affected by the alarming situation of
foreign relations. Following the movement in the
minimum, the Joint Stock Banks and Discount
Firms have raised the rate of interest for deposits
to 21 per cent.
The panic in the Stock Exchange, especially during the
earlier part of the day, was more intense than ever. The
official hammer announcing the public default of members
has been resounding all day. To-morrow will be pay-day
on the fortnightly settlement in shares and foreign stocks.
Each member of the Stock Exchange is bound to pay the
last farthing, under penalty of being proclaimed a defaulter,
yet has no security for the punctual receipt of the sums due
to him. It has become requisite to make • provision against
all contingencies, and with the grand object of preserving
their credit, many members have forced sales of all classes
of securities. The markets have consequently been
paralised. Neither the continental intelligence, nor the
alteration at the Bank appears to have had so much effect
upon prices as the total dislocation of the internal arrange-
ments of the Stock Exchange, consequent upon the
numerous instances of embarrassment proclaimed in the
midst of a heavy settlement. Consols opened this morning
at a fall of 11 to 2 per cent., and a fresh reduction of -14 per
cent. was soon quoted. The first check to the fall was
occasioned by the brokers for a leading financial firm buying
away thousands of Lombardo-Venetian Railway New
Shares. Consols made a rally of to 1 per cent. from the
lowest point of the morning. Although the tendency to
fluctuation remained, the aspect of the market in the
afternoon was less. gloomy. A certain degree of support
was derived from investments. The final quotations were
1 per cent. below those of yesterday. There were no further
withdrawals of gold from the Bank to-day.—Deily News
City Article,' Thursday evening.
A further fall of more than 2 per cent. marked the com-
mencement of business this morning in the Stock Exchange,
and, before the end of the day, upwards of twenty additional
failures had been announced—one of them for an amount
exceeding £lOO,OOO, the whole of which will fall upon the
various dealers. Subsequently there was a partial recovery,
and the final transactions were at prices about I per cent.
below those of yesterday. The report that Denmark has
gratified her anti-German feeling by joining the alliance
with France and Russia, thus making a significant com-
bination of three of the principal naval powers of Europe,
was among the causes of the increased depression at the
commencement of the market, but the further revelations
regarding the secret conditions arranged with Russia,
exercised the greatest influence. The change in the
Bank rate of discount produced little effect. The symptoms
of the Money Market for the last few weeks having fully
prepared nearly every one for this step. The applications
for discount at the Bank to-day, although not quite so
heavy as yesterday, were still very large, the demand
continuing without diminution after the raising of the rate.
All the Joint-stock Banks have advanced their rate for
deposits to 21 per cent., being, as usual, 1 per cent. below
the Bank of England minimum. The new Indian loan
closed at 5 to 4 discount. Times City Article, Thursday
Evening.
• The mail from Paris has not arrived.

The steamship Behar has arrived at Southampton with
a heavy Bombay mail. Five of It M.'s ships were at
Gibralter on the 25th. The Behar has experienced very

severe weather. -
The Times says some of the principal houses of the city,
connected with France and Russia, have been engaged in
making large purchases of coal, their orders being to take
what they can get, irrespective of quality, price, or port.
The question has accordingly been strongly discussed,
whether such supplies can be fairly furnished by us as a
neutral power.

Notes issued

BANK OF ENG

riND RETURNS

ISSUE D

£31,435,270

ARTMEN

anent Debt 11,015,1(

Other Secur

BANKING I

L 31,435,270

Proprietor's Capital. 14,553,

Seeu- 1
11,371,118

Deposits

767,155

£39,033,336

Active i
Bullion
Rest • ...

Seven-,

686,981