The British Press; or, Morning Literary Advertiser.
London, England, 1826-05-08 00:00:00

at once." •

-
With regard to the distress arising from the want of de-
mand for our manufactures, it is unquestionably very great ;
but perplexing as it is for the present, it affords no ground
fur despondency as to the future. It is a distress arising,
not out of scarcity, but superabundance. To the individual
holders of goods, whose warehouses are filled with articles
for which there is no present demand, we grant that the
effect is the same, for the time, whether they have nothing
to sell, or can sell nothing; but it is obvious to reflection
that, to the community at large, the difference is very
great. If, for example, the stagnation in our cotton
or woollen trade arose from a failure in the pro-
duce of the raw material, whether of wool or cotton,
it would present a very different aspect tha- when
proceeding, as it does, from overstocked storehouses of
both articles, the purchasers 6f Which wait only for the
fall of the speculation prices; which fall must eventually
insure both demand and supply, and thus revive the ma-
nufacturing industry which the locked-up capital bad sus-
pended. lire have taken occasion more than once to point
out the operation of those causes to which the present de-
pressed state of our internal trade may be distinctly traced.
The foreign, demand for our manufactures must revive be-
fore the home demand can regain its former activity and
extent. This result, however, must, from its very na-
ture, be gradual. We have a strong spirit of rivalry to
cope with on the Continent, and we have their cheapness
of labour to counteract ; but the wealth, enterprise, and
perseverance of our manufacturing capitalists, and the su-
perior skill, talent, and energy of our workmen, while
they throw open the ports of every nation of the world to
British intercourse, will enable us eventually to triumph
over all foreign rivalry, and, under the direction of those
wise and salutary principles which our late experience will
have taught us to value, leave us nothing to fear as to the
final issue of the difficulties in which, by a too sanguine
spirit of adventure, our commerce has, for a long time,
become involved.
• Monthly Review for April.

CITY, SATURDAY EVENING.

In the early part of the day there was every appearance of a
steady improvement in Consols, which advanced from 773 to 79k.
The speeulators for a fall, however, could not allow this amend.
ment to proceed, and they put forth a report that a naval armament

was ordered to be fitted out at Portsmouth. This rumour had the
effect of depressing English Securities, and Consols left off
at 771 1. The story of the advance of the Russians to the Turkish
frontiers was repeated, which, no doubt, assisted in producing de-
pression. Large Exchequer Bills were 9i. 10s. pm. ; and small
ones 9s. to Ils. Bank Stock remained at yesterday's quotation, as
did India Stock and Bonds. The Foreign Market continued in
nearly the same state as on Friday. Russian Bonds were a shade
better, viz. 76 ; and SouthlAmerican Stocks, which have been im-
proving. all the week, maintained themselves tolerably well at the
close of the market ; but If any alteration is to be noticed, we
should say they rather drooped from Friday's prices ; but the de-
cline wayso trifling,as to be undeserving of .totice. Greek Bonds
were 15t 1 ; and Spanish ditto B. Some bargains were also done
in the Newßot.ds at 5.
The only arrivals to-day were from Germany and the United
States ; but the communications were not of public interest.