The Sun.
London, England, 1837-04-11 00:00:00

No. 13,908.

EASTERN COUNTIES RAILWAY, from
London to Norwich and Yarmouth, by Romford, Colches-
ter, and Ipswich.
The Directors have great pleasure in acquainting the Proprie-
tary that the Works of the First Division out of London of this im-
portant undertaking are in full progress ; that the first call has been
so well paid up that the Board do not anticipate the necessity of
making any further call on the Shareholders during the present
pressure, and that the number of Shares now registered amounts
to 61,225.

By order of the Board,
J. C. ROBERTSON, Secretary.
4, Adelaide-place, 10th April, 1837.

In 2 vols. Bvo., with Portraits of Napoleon and Cambaceres,
EVENINGS WITH
PRINCE CAMBACERES.
SECOND CONSUL.

MONEY MARKET.

IS NOW READY.

Henry Colburn, Ptlli.;l;r:.l3-,G;;at-Marlborough-street.

In 2 vols. post Bvo., with Portraits of the Emperor Ferdinand, and
Prince Metternich,
AUSTRIA AND THE AUSTRIANS.
With Sketches of
THE DANUBE, AND THE IMPERIAL STATES.
IS NOW READY.
Henry Colburn, publisher, 13, Great Marlborough-street.

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' The CI[AIRMAN then declared that the resolution was
carried.—(Cheers.)
Colonel Jon 55 proposed that an application should be made
to the High Bai7;if of Westminster. to convene the meeting.
It would carry more weight than if it were convened by the
eothb3;htehe resolution Committee,
Committee.
Mr. l'imErr moved as an .1-mendment that the meeting be
call mitteaet,idaandrnehnCdmeidt the Crown and Anchor.
Both
it having been seconded,
were put from the chair, when the num:;7rs appeared in favour
of the original motion, which was conseque,-.`tly declared to be
carried. . .

Thanks were then voted to the Chairman, and the tt.,,,ctieS
separated. About seventy gentlemen sere present.

The attention of the commercial interest has to-day (Mon-
day) been directed principally to the condition of the Liverpool
houses who have memorialised the Chancellor of the Exchequer
for assistance, and whose application has been supported by a
memorial in recommendation of their claims from the Man-
chester Chamber of Commerce. The deputation from these
two important towns had an interview with the Chancellor of
the Exchequer • during the morning, when the Right Hon.
Gentleman expressed his opinion that the circumstauces of the
case were not such as to require or justify any interference
on the part of his Majesty's Government, and recommended the
deputation to apply to the Bank of Englsnd, by whom aid would
probably be rendered if adequate grounds could be made ap-
parent. In consequence of this an interview subsequently took
place between the deputation and the Governor, Deputy--
Governor, and some of the Directors of the Bank. This
meeting has not led to anything definitive. It was intl.
mated to the deputation that a regular application from them,
accompanied by the necessary explanations, would be atten-
tively and fully considered by the general body of Directors ;
but it is right, at the same time, to say that the gentle-
men who conducted the conference on the part of the Bank
of England did not hold out to the Liverpool deputation any en-
couragement to expect that their application would eventually
be successful. The general feeling, we believe, is, that the ap-
plication of the Liverpool merchants is of a character some-
what too general, and implies the necessity of relief in
resnect to the depression of too great a variety of articles
of commerce, to have any chance of success in its pre-
sent form. There is, besides, considerable, we ought ra-
ther to say, perhaps, insuperable, difficulty, in entertaining an
application for assistance, when the cause of the existing
pressure, as in the present instance, is merely an unfavourable
fluctuation of price. If, to mention a single article, for
example, there were a stagnation in the trade in cotton, arising
from a suspension of the manufacturing processes at Man-
chester, from whatever cause this Suspension arose, there
would be a case more or less clear for artificial and unusual
aid. But while the mills at Manchester keep at work—
while the Liverpool Cotton Market presents weekly a con-
siderable amount of sales—while it is thus shown that
the evil has not assumed the character of stagnation,
great and reasonable doubts are entertained of the pro-
priety of interference, more particularly as the capital
of the merchants and bankers of Liverpool is not sup-
posed to be insufficient to carry that important part of the
great commercial community of Great Britain through its
present difficulties, without any other than those individual
and isolated cases of bankruptcy which may be traced to the
excessive speculations of the individual sufferers. There is
little doubt that the market for raw cotton must for a consi-
derable period be languid, and the prices low. The stocks
are heavy, and an unusual quantity is held on speculation.
The state of our commercial relations with America will ne-
cessarily suspend or diminish for some time the exportation
of manufactured goods to that country. .The same obser-
vation applies to the East Indies and China, the trade
with the latter having been greatly deranged in con-
sequence of the senseless and improvident abstraction by
the Chancellor of the Exchequer of a million of money
from the capital of the merchants engaged in that trade
for the premature payment of duties on the lower de-
scriptions of tea. But it may reasonably be expected, and in-
deed some symptoms of this healing counteraction have already
presented themselves, that in proportion as the prices of our
staple commodities are reduced by the diminution of American
and Oriental commerce, a greater impulse will be given to do-
mestic consumption and to our export trade with the nations
of continental Europe. Upon the whole the impression un-
questionably is, that, so far as the Liverpool application is con-
cerned, it will be the wisest course to leave existing evils to
that remedy which, although not the quickest, is often the
surest in respect to commercial as to physical diseases—the
curative process which, in the very nature of things, is con-
stantly at work.
It is stated in letters from Manchester that the leading
houses at that place had been purchasing somewhat largely
from the Liverpool importers of cotton, particularly those en-
gaged in the manufacture of twist, many of whom have a great
command of capital, and are supposed to be laying in their
stocks, under an impression that the raw material suitable
for their purposes cannot be produced at lower rates.
Notwithstanding the strength of this class of purchasers,
and the probability that their operations may have the
effect of raising prices, it appears that many of the ma-
nufacturers who bad goods on hand adapted to the spring
trade in London have, within the last week, submitted to
a sacrifice of about fifteen per cent. on their accumu-
lated stock. For colonial account a still heavier re-
duction in price has been necessary, in order to get off a de-
scription of goods appropriate only to certain markets, such,
for instance, as those of the Isle of France and other settle-
ments in the Indian seas. It seems to he expected that as the
New York houses, who have hitherto been almost o.le exclu-
sive shippers of cotton, will be severely crippled through the
great depression of the markets in Europe that the merchants
and capitalists of this country will endeavour to establish a
direct trade for the future with the Southern States of Ame-
rica, where investments may apparently be ;made on infinitely
better terms, than under tae present intermediate system
Morning Post.