Northern Times.
Liverpool, Merseyside, England, 1857-10-26 00:00:00

THIC FUTURE

From an article in the New York Courier, of the
14th inst., we extract the following :
What resources have we abroad to depend upon ? And
what aid can Esrepe give us during the coming year?
These questions are of vital importance, and will be asked
and answers given in domestic, as well as commercial
circles We can best resolve the problem by a consideration
of the effect of the panic of 1837 upon our foreign trade.
Not that our troubles are as great, but they are of a simil
kind ; otherwise the comparison would not hold good.
We give some statistics il!ustrating the changes at that
time in our foreign trade, and 'rem this we can form some
estimate of our foreign trade for the next year :

STATEM NT OF TUE FOREIGN coulazacm OF TUE UNITED
STATES FOR A SERIES OF YEARS.
Years.. ._
Exports. Imports
1836 sl2B 600 000 $190001,000
1840
F. om this we see that the exparts in four years increased
frar m;llions, while the Imports decreased eighty three
millions, or showing an improvement in our foreign balance
of eighty!seven millions of dollars. The reaction that took
at that perio I four years to produce, will now be produced
in twelve months.

The Commerce of the United States for the fiscal year
1856, was as follows : —Exports, 327,000,000 doll ; Im-
por,g, 315,000,000 dots. The decrease in imports from
1836 to 'lB4O, WAS 48 per cent., and the increase in exports
was 3 ner cent. Applying the same per cents ge of increase
and decrease to the trade of 1856 our commerce for the
present fiscal year would be as follows :

Year 1857-58.
Exporti
1 mpoz is - • 986,000,000

Bilance in our favour ..
Add Californi.ta gold ....

101,000,003
Debt due Eu op 3

Balance 151,000 000
From this we see that if Europe remain solvent the
balince dael.l9, after paying the debt which is now due to
Europe, will be over One hundred and fifty miltioni, of
dollars. This is an under estimate of our exports. The
Emperor of France has just issued an edict forbidding the
export of grain frisa France. The imports of cotton into
Great Britain from India this year will be nominal. Great
Britain will want our flour and provisions for her Indian
army. Enough has been given to show that our exports
must increase, and our imports are • subject to our own
control. Europe must have cur cotton and breadstuffs;
and India our provisions The gold from California must
stay with us. This aid we did not have in 1837, and is
in itself alone sufficient to ensure our recovery.
The Pennsylvania Legislature, after a discussion
occupying several days, atljourned sine die on the
13th ultinio, having passed the. Relief Bill by a
majority of 56 ayes to 36 nays. The Governor
immediately signed the bill. This bill removes
the penalties for suspension until next March ;
permits the Banks to dislount and pay out for their
own notes at sixty days after March; provides that
they must also pay their deposits and 'not declare
dividends above six per, cent. ; provides that the
Pittsburgh and Philadelphia Banks must publish
weekly statements, like New York; provides that
all the Banks must receive the notes of other Banks
solvent prior to, the suspension ; provides that
the President of any B ink making oath that
another bank is unworthy of credit, commissioners
shall be appointed to examine the effeirs-of such
hank, and it it refuses an examination it then
foe'e:ts its charter, unless it resumes before the
middle of April ; provides that' the State revenues
he made payable in the notes off—solvent blinks
during the suspension, and that the banks mast
redeem the notes thus received for tolls and taxes;
provides that all judgments shall have a stay of
execuC.on for six months longer than is now allowed,
where tke party has a freehold estate ; provides
;lased stay of exe3u'zion shall not be granted for
wages and labour ; requires the banks to certify
their acceptance of this bid-within thirty days, and
to pay one-half of one per cent. for the privilege.
A New Orleans despatch dated the Bth instant,
pays :

The excessive stringency of th 3 money market has
cause a farther heavy decline in cotton, and the reduction
from the highest point attained is now three and a quarter
cents per pound. The sales during the past three days are
put down as 6,000 bales, incluling lots of middling at 133.
per lb. The range, however, for this grade is 13 to 131
cents. The receipts continue to pbu, in rapidly, and the
indicaious are that lower figares.will yet have to be sub-
mitted to.

A despatch from the SlTile city, dated the 12th
instant, is as felloNs :—" Th• re are vArious rumours
of failures, but none are authenticated. B4siaess
unsettled. Money- is tighter, and m Ittt rs generally
look gloomy."

• The political and general news by this arrival is
not of any moment.

The cotton crops hive b-sen seriously injured in
Texas by the boll worm and early fro3t, and have
also•suffered in Alabama and Louisiana by either
the worm or the weather.
The contestants to the seat of delegate from
Nebraska were at WiShington, representing their
claims and canvassing for votes. The Hon. Fenner
Ferguson, the administration candidate, has the
vaerti fi,3lt te. The Hon. J3ird B Chapman, delegate
in the late Congress, claims to. have the most votes
by several hundreds, and alleges that the return of
Judge Ferguson was owing to the votes of
Mormons and other non-residents. Mr. Chapman is
decided domocrar, and is regarded as friendly to the
Hon. S. A. D mglas as a candidate forthe Presidency.
This contest is interesting in one view. It shows
that already the Mormons have becon3ea political
power in the West outside of the Galilee which they
chiefly inhabit. They have temporary settlements
in. Nebraska, and at two of these cast for Judge
Ferguson about 600 votes. What is remarkable
about. the Mormons, is, that while nearly all of
them are foreigners, quite all of them are
democrats—and these two facts are probably the
real cause of 'that covert sympathy and tenderness
shown for thein during the late and present
administration.

Private letters received at Washington from the
South, by persons who sympathise with Walker's
filliliusiering movement, state that.the recruiting
business is progressing finely. There were several
hundred recruits already at New Orleans. It is
further stated that they apprehend no difficulty or
hindrance in leaving any of the eouthern ports.
as moat of the officers of the government sym-
pathize with the movement.,
It is now probable that the present government
of Nicaragua will be recognized by the reception
of its min'ster, Yrissarri, with a view to the forma-
tion of a treaty with that republic, to permanently
Secure for the United States tha privilege of the
Transit route.

The ship Sultape, from New York, arrived at
New Orleans, reports passing, on the 23rd ult., off
the coast of North Caroline, the corpses of four
men, and a piece of wreck, supposed to belong to
the Central America.

COMMERCIAL.
NEW YoRK, Oct. 14.

The confusion in the streets have been so great that
business has been in a large measure neglected. No
quotations of foreign or domestic change can be given—
the market values of property, of stocks, of produce, &c.,
are all nominal. The derangement of the currency and
of the exchanges interrupts, for the time, commercial