The Sun.
London, England, 1837-04-10 00:00:00

MANCIIRSTER, SATURDAY.
A numerously attended meeting of the niembeii of the A;
Chester Chamber of Commerce and Manufactures was bel
twelve o'clock to-day, for the purpose of taking into more
liberate consideration a communication from the merchant
Liverpool, requesting the co-operat;on and assistance of
Chamber in their endeavours to obtain such pecuniary
vances from Government as may enable them to avoid
ruinous sacrifices which forced salts, in the present deprer
state of the market, would involve.
A meeting of the Directors of the Chamber of Commc
was held yesterday, at which the subject was diiew.sed at e,
siderable length; but it was eventually determined that
question was of too great importance to be decided withote
general meeting, and one was called accordingly, to be b
at the office of the Chamber, in King-street, at the time ab,
specified, when
G. W. WOOD, Esq., having been appointed to the Ch
that gentleman stated the object of the nicetinu; after which
Mr. MACVICAR (the late Boroughreeve) read the " Men
rial," which the Chamber was called upon to support, wh.
was as follows

_ .
‘. To the Right Honourable the Chancellor of his illajest.
Exchequer.
" The memorial of the undersigned merchants, broke
and other inhabitants connected with the trade
Liverpool,

. _
" Respectfullyshoweth—That the distreis of the mercant
interest is intense beyond example, and that it is rapidly e.
tending to all ranks and conditions of the community, so as
threaten irretrievable ruin in all directions, involving the pr
dent with the imprudent, the manufacturer with the mercha,
and the weavers, spinners, and labourers generally, with t'
manufacturers themselves.

" Your memorialists will not now enter on an examinati.
of all the causes which have led to the existing convillsic:
they are aware that the late high prices of commodities main..
contribute to produce unfavourable exchanges. These hi_
prices have passed, and are now succeeded by such a fall
cannot fail in time to attract the capital of the whole mercar.
tile world to the relief of the present pressure. •
" Your memorialists know better than to ask for any assist-
ance which could restore high prices ; the losses must by
borne; all they humbly ask is that measure of relief which
will save numbers, of all classes, from total ruin—ruin not
proceeding from insolvency, but from the total impossibility
of disposing of their property in time to meet their. present
and approaching engagements.
" Tour memorialists farther submit that the present condi-
tion of affairs, unless mitigated, may involve the public peace,
and deeply aff,et his Majesty's revenue.
" Your memorialists therefore pray that these premises ma,
be taken into immediate consideration, and that such relit
maybe gra.npd_as to your judgment may be deemed safe ant,
expedient.

" And your memorialists will ever pray."
Several gentlemen addressed the meeting in support of tb
application► of the memorialists, and recommended the co-ope-
ration of the Chamber.

Mr. SAMUEL FLETCIIER said they wished facts to be placed
before them, to justify interference under the circumstances.
Mr. SMITH entered into a detail of the causes of the stagna-
tion which had rendered the proceedings on the part of the Li-
vcrpool merchants necessary. The discredit attached to Ame-
rican paper was such, that no discount cculd be procured ; bah,
from that quarter had become so much waste paper, and, thAt
resource failing, the merchant had none left but to sell his pro..
duce at any sacrifice, or obtain a loan. It had been customary for
merchants to draw bills in anticipation of sales on the brokers who
held the property; but the Bank of England hail refused to dis-
count such paper, and other banks had followed the example;
therefore, nothing remained for the merchants but to sell their
produce at ruinous loss, or at once to suspend pa) meats; and
wale of tile most respectable houses in Liverpool had been
compelled to suspend payment under those circumstances.
The relief sought was an advance in Exchequer Bills from
Government, which would afford something like the accom-
modation formerly obtained from the brokers, if Government
refused, numbers would be reduced to the necessity of sus-
pending payments, and what the eventual consequence would
be it was impossible for him to tell.

A MEMBER here observed, that he thought the matter might
be urged upon Government by the Liverpool merchants, wit_
out mixing up the Manchester Chamber of Commerce with
the application.
Mr. NEILD said the question for their consideration was,
whether the circumstances of the case called for the inter-.
fetence of the Government or not? This was a question in
which this district was as deeply involved as Liverpool ; as, Li:
a:quantity of produce were thrown on the market at such to
time, the amount of suffering it would occasion would be very
great. What was most wanted was the restorapon of con-
tidonce ; and if the relief sought for would have that
feet, it would be wise in the Chamber of Commerce to give,
to the gentlemen of Liverpool the aid they solicited at
their hands.

Mr. CIIEETIIAM argued against the necessity of interfering
the matter, and contended that the alleged consequences to
Lis district was of much less importance than some appeared

imagine.

In compliance with the request of Mr. Neild, the CHAIR.
MAN made some observations illustrative of the case under re-
view. He was, he said, from principle, exceedingly hostile to
anything in the shape of interference by Government in com-
mercial affairs. In the year 1826, however, a question of the
same sort came before the 'Chamber, and he (Mr. Wood) and
a gentleman who sat near him (Mr. Ashton) were amongst
those who were appointed to go up to London to represent-
the wishes and wants of the people of Manchester to Lord_
Liverpool. The deputation consisted of nineteen, severally-
interested in the manufacturing, spinning, and printing depart-
ments ; and they succeeded in convincing Ministers that the,
well-being of this district depended upon their granting the•
assistance sought for. Lord Liverpool was, however, when:
they entered the room, determined to resist any application or
the kind; and it was only from a subsequent conviction, that :
it was a case warranting a departure from the usual course,
that he was induced to yield. There were three Ministers or
the Crown present—the Chancellor of the Exchequer, the
Secretary of the Home Department, and the President or
the Board of Trade, and they agreed in thinking that the
measure would be very beneficial. It was certainly called for
at the time, and did great good ; and it was for the meeting-
to say whether the present case was entitled to similar con-•
cession.

Mr. ASIITON, in reference to the proceedings when he
formed one of the deputation alluded to by the Chairman, said
that the argument then was the distress of the working classes
in the manufacturing districts. Ile did not know whether the
present arguments would avail.
Mr. RAn.roN observed th 0. it had been said that there was
no distress here, and therefore that they had no interest in the
question ; but when they saw how fast it spread over Liver-
pool, they might expect it before long. If Manchester did not
apply, therefore, for immediate relief—if their case was not
pressingly urg,Jit, he thought a Commission should be ap-
pointed to act as circumstances might require. Ile showed,
from a reference to former loans, similar to the one now asked.
for, that the utmost of the loss sustained by Government was.
24 per cent. on the gross sum ; and he thought there were:
gentlemen present who might make out, from their knowledg(.l
of the question, a precautionary case, which would place Ma',l-
- in a safer position. There was no secret in it tyjw,
and they might tell the meeting what amount was lost,
Mr. CLARK said the question wass 'whether the parties con-
cerned might not force sales, in t:ne first instance, with Thore
advantage than after they had accepted a loan, as the time for
sacrifice must come.

The CU AIRMAN, in again adverting to the advances made
by Government on a former occasion, said that the bilis taken
were wily for three months, with an understanding tivat they
shay:J(l be renewed if good and sufficient cause were shown r.
but then the first bills had to be taken up before any fresh,.
advance was made, and therefore the extended time was or,
but little use.

Mr. ROBERT GARDNER emphatically contended that great:
distress must accrue if the application under cr,nsideration werea
not acceded to ; -the operatives would not, ttarve quietly not
any more than they did formerly ? and, if led on by dema-
gogues. there was no telling the consequences. Asa persott
largely engaged in manufacturing, he would say he could not:
go on without effecting sale;, and no sales could be made.. 4
They were lately all goi'ag mad one way, and now they
seemed to be going 'mad on the other. If Government.:
granted the loan, hut few would avail themselves of it, for it .
would restore coal/le/Ice, and there would no longer be occ-s -
sion for ..i. It was urged that relief was not wanted in ti cis
district, bait roost assuredly it would be if it were not imm ol-
d:Lately !!,ranted to Liverpool.
Mr. NEYANT said, when he looked at the great advan res
made by the bankers to Liverpool merchants, he thougb it. if
they chose to place themselves in such a position they had
no. claim, they could make no case to entitle. them to :aid.
The Bank of England would not advance without sect trity,
and he doubted if the produce now in their hands would cower
what they wanted. The people of Liverpool went blinedv on,
while in Manchester they were in t:ne habit of looking, 'liKe an
experienced chess player, three or; four moves forward. If a
Manchester man purchase in Liverpool, cash is expected ; if
the Liverpool people purchase in Manchester, they offer bills_
He (the speaker) had no 'difficulty in getting good bills dis-
counted. If they would deal so largely in the manufactory of
paper they must take tae consequences.
A numbc,r of other gentlemen spoke for and against the
proposed, interference of the Chamber (but the preceding wily
be stacient to show the character of their several arguments)),
after which it was moved by Mr. Roberts, and seconded by ItTaa
Hoole,
That although the present situation of the commerce- of
Manchester is not such as to require assistance from Govern-
ment to this town and neighbourhood, this ',,neetinir is of opinion
that, looking to the probable consequeue-es of the heavy calami-
ties apprehended by the merchants of Liverpool, and to the
manner and degree in which they may affect the interests of the
manufacturing districts, the ;application of that body for aid
should be supported by a der/utatien from this Chamber."
The following art:end:want was then moved and seconded :
" That the eourmercial state of this town and neigl6oor-
hood not being; such as to require assistance from (govern-
ment, and tnis meeting not being sufficiently inforr.icd as to
the 'Acts which induced the merchants of Liverpool to ado pt
tho memorial which has been read, cannot take atny measure
to support it."
The amendment was put and lost by a law.
je majority, and
the original motion was carried.
It was then proposed that the Presider.t and Vice-Presi..
dent be appointed a deputation. Mr. ViVooD begged to bia
excused, but the motion was eventually tarried. Thanks were
then voted to the chair, and the rueetin g separated, having oc-
cupied upwards of three hours. The room was crowded cvitt .
members, comprising the most healthy and influential race i'l
this town and neighbourhood,