The Sun.
London, England, 1830-01-26 00:00:00

EAST INDIA TRADE.

The trade of the United States with the East
Indies has been rapidly increasing for several years
past. Yet it is somewhat singular that all those
individuals who have been heretofore engaged in the
direct or specie trade to China, have sooner or later
been thrown into embarrassments, and eventually
involved in ruin. This feature in the tea trade is
particularly observable in that portion of commerce
which is connected with New York, Philadelphia,
and a few other ports, though not so much observ-
able, if any at all, in the Boston tea trade. What is
the reason, and how can a remedy be devised, are
questions of some importance to the commercial
community, as well as to the national Legislature.—
In the Message of the President there is a very sig-
nificant allusion to the long credits authorized on
goods imported from beyond the Cape of Good
Hope. The losses in the collection of the revenue
are attributed to these credits, and a recommenda-
tion is given to Congress to shorten them. This is
very wisely proposed in connection with the esta-
blishment of a warehousing system. The evils at-
tributed by the President to these long credits, do
not alone affect the revenue of the nation. In the
opinion of merchants and intelligent citizens in this
neighbourhood, these long credits in the tea trade
only have been equally injurious to the prudence,
the prosperity, and soundness of East India mer-
chants. One branch of the evil which has particu-
larly affected the tea trade of New York and Phi-
ladelphia, is the prosecution of that trade through
the medium of specie alone. In Boston and else-
where, where our East India merchants connected
the tea trade with that of the North-west and of
Europe, the same evils have not been experienced
to the private fortunes of individual merchants. A
system of long credits, which throws at once into
the hands of a merchant a vast quantity of additional
capital, is very apt at all times to create speculation
that may run to ruin before the judgment can reach
it. If the recommendation of the President be car-
ried into law by the action of Congress, we are per.
fectly satisfied that great benefits will result to the
prosperity of individuals, as well as to the revenue.
'fhe power of indulging in over speculation will be
curtailed to reasonable dimensions, without impair-
ing those aids which our Government has always
afforded to the capital engaged in foreign trade.—
The practical effects of the President's recommends-

tion are well known to our city delegates in the
House of Representatives.

WASHINGTON, DEC. 17.—A few days ago the
President gave what may be called a Cabinet din-
ner, at which several of the opposition Members of
both Houses were present, accompanied by their
ladies arid daughters. The female leaders of the
ton who figured during the last presidency, are in
ecstacies with the suavity and urbanity of the Presi-
dent. Many of them were prepared to meet some
hideous monster that could eat up a militia-man for
breakfast with as little sang froid as a Maine lumber-
man could swallow a pickled herring. The soft
manners and ready conversational poweis of the old
war-worn General are now contrasted with the
coldness, the rigidity, and frigidity of his predeces-
sor. The New England belles protest they shall
hereafter entirely abandon the opposition. As they
are great sticklers for etiquette, they Sttil a difficulty
in attaining their object in a legitimate way, legalized
by precedent and former ages. A wicked creature,
charming as an angel, who is believed to be from the
" great state," proposed the example of the famous
" forty high minded," who turned a somerset in " the
olden time," that far outstripped all political tumbling
—either among the Greeks or Romans—the French
or English. it is believed, thereibre, that the first
"drawing-room," if it should be determined to hold
them, will be crowded by the beauties, the belles,
the leaders of the ton during the last Presidency.
Badinage apart, the President is gaining golden
opinions the more he is known—every thing con-
spires to realize the prediction that the Presidency
of Andrew Jackson will be one of the purest, the
brightest, the most halcyon periods of the republic.
I have seen letters from some of the most distin-
guished men of Virginia, in which it is told that the
effect produced by the Message was tremendous in
favour of the present Administration. The magna-
nimity and candour of the old Virginia character
are well known. The opponents of the President
in that state are withdrawing their hostility astonish-
ingly. The excellence of the Message—the purity
of the language—the correctness of the principles
avowed, are admired by every class of men, and by
none more than those who opposed his election.

CHARLESTON MARKET, Dec. It.

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CorroN.—There was an extensive sale of Upland
Cotton since our last, at a reduction of about 1-3 d cent.
The principal transactions were at 94 a 9i. Selections
brought 9i, and choice brands and superior qualities 9.;41
alO cents. A few sales of Sea Islands were made at 25
cents. and upwards. Maine* brought 22 cents. ; and a
choice lot of Santee, for the Northern market, brought 22
cents.

NEW YORK, Due. 22.

- -
CorroN.—Our supply continues moderate, and prices
remain without alteration. The sales from the 19th to the
221 instant amount to 850 bales ; consisting of 750 Up-
lands, chiefly new crop, at 9 and 10k cents., one or two
lots of inferior old at 8 cents, and 100 Tennessee and New
Orleans at 9} and 13 cents. The advice. from Liverpool
and Havre, noticed in our last, do not appear to have had
any influence on the Market. The packet ship George
Gunning, from Liverpool, was announced off Sandy
Hook yesterday by telegraph, and will bring accounts
still later by eight or ten day..
Freight to Liverpool
Continent
Exchange on London, 00 dly.
on Amsterdam 39% a 40 cents. per gull.
on France 5 33 a 5 30.