The Sun.
London, England, 1862-12-24 00:00:00

STATE OF 7.RADE.

MR. SEWARD TO MR. ADAMS.

. . . The telegraph announces the destruction
of another half-dozen American vessels on the high
seas by the steamer 290. The President is obliged
to regard these destructions as being made by Bri-
tish subjects in violation of the law of nations, after
repeated and ample notice, warning, and remon-
strances had been given by you to the British Go-
vernment. It is presumed that you have already
brought the subject in that light to the notice of
her Majesty's Government. The legal proofs in
support of a claim for indemnity will be collected
and transmitted to you as speedily as possible. . . .
MR. LAYARD TO MR. HORSFALL OF LIVERPOOL.
Foreign office, July 5, 1862.
Sir,—l am directed by Earl Russell to acknow-
ledge the receipt of your letter of the 2d inst., in-

closing a memorial from certain British merchants

and shipowners at Liverpool, in which they state
that they view with considerable anxiety and appre-
hension the hostile attitude assumed by Federal
cruisers in the Bahama waters, and the memorialists
pray that steps may be taken by her Majesty's Go-
vernment to protect British shipping in those

waters, and to put a check on the seizures so re-

peatedly made by the Federal cruizers.
I am to state to you in reply, that it is alleged on
the other hand, by Mr. Seward and Mr. Adams,
that ships have been sent from this country to Ame-
merica, with a fixed purpose to run the blockade,

that high premiums of insnranee have been paid with

this view, and that arms and ammunition have been
thus conveyed to the Southern States to enable

them to carry on the war. Lord Russell was unable

either to deny the truth of those allegations, or
to prosecute to conviction the parties engaged in

those transactions. But he cannot be surprised that

cruisers of the United States should watch with vi-

gilance a port which is said to be the great entrepot

of this commerce.

Her Majesty's Government have no reason to
doubt the equity and adherence to legal requirements
of the United States prize courts, but are aware that
many vessels are subject to harsh treatment, and
that, if captured, the loss to the merchant is far
from being compensated even by a favourable de-
cision in a prize court.

The true remedy would be that the merchants
and shipowners of Liverpool should refrain from

this species of trade. It exposes innocent commerce
to vexatious detention and search by American

cruisers; it produces irritation and ill-will on the
part of the population of the Northern States of

America; it is contrary to the spirit of her Majesty's
proclamation ; and it expoSes the British name to

suspicions of bad faith, to which neither her Ma-

jesty's Government nor the great body of the nation

are justly obnoxious.

It is true, indeed, that supplies of arms and am
munition have been sent to the Federals equally in
contravention of that neutrality which her 11tijouty
has proclaimed. It is true, also, that the Federals
obtain more freely and more easily that of which
.vigilantly
tbeY Stand in need. But if the Confederates had
the command of the sea they would no doubt watch
aso
Charlestonto and capture N easels seeking to break the

by Federal crnise
There can be no doubt that the watchfulness exer-
ciseding the Confederates byrBsto prevent
. supplies reach-
eawill.occasionally lead to
vexatious visits of merchant
pursuit oho which the psehjs not engaged in
any
can. properly
object. This, wever, is an e,diatlos
which war on
the ocean is liable to expose neutral corameree,and

' MANCHESTER, Dec. 23.—We have had a very
strong market for yarns, but the amount of business
has not been large, though sales to a fair amount
have been made. The market has been a good deal
stimulated, no doubt, by the reports from Liver-
pool, where the sales of cotton to-day have again
been large. We should have had a more extensive
easiness in yarns had spinners been content with
more moderate prices. Generally speaking, they
are asking an advance on the rates of last Tuesday,
and some of them require a rather considerable rise.
At Saturday's terms a very considerable business
i could have been done to-day; at least, so sellers
report, but there is a general impression among
spinners that we shall have much more activity in
January, with higher prices, and they are conse-
quently reluctant to enter into engagements of any
moment in what they regard a transition state of
the market, In the cloth market some houses re-
port a more cheerful feeling and rather more busi-
ness, bat this account is not generally corroborated.
Manufacturers have been very firm in their de-
mands, and in some cases have been inclined even
to ask rather higher rates than last week, but
which could not then be obtained. Buyers, however,
seem somewhat obstinately to decline business. The
business has been by no means large when compared
with the extent of inquiry, which has been consi-
derable for several descriptions of cloth, including
T-cloths, shirting, and printers. Some of the print-
ing cloths lately contracted for are now in course of
delivery, and, being chiefly made of Surat cotton,
have disappointed expectations. The printers com-
plain of them very much. Still, however, the con-
viction of sellers of cloth is that we shall have

still higher prices, and they have steadily refused

offers to-day, even where an approximation to their
own prices has been made. In resent reports
of this market attention has been called to the
fact that in various parts of the cotton district

spinners and manufacturers, who had wholly
or partially stopped their mills, have obtained
contracts recently for goods which have run
out of stock, and for cloths of a description
hitherto not made, and that consequently they
have resumed work on full time. It will be seen

from Mr. Farnall's report to the Central Execu-
tive Committee yesterday, that at Burnley, Black-
burn, Bury, Chorley, Haslingden, Rochdale, and
some other places there is a decrease in the num-
ber of persons receiving relief of 4,434, and an in-
crease in other towns of 2,401, leaving a net im-
provement of 2,403. This improvement will probably
be carried somewhat further by more mills resuming
work after Christmas, but if must not be taken
for granted that the improvement will be carried
to any great extent, cr that it will be permanent,
with the present prospects of a supply of cotton.
Buyers for the United States as well as for the
continent of Europe now make their appearance
in the Liverpool market for Surats, and, notwith-
standing the heavy imports for the last two months,

the stock of that kind of cotton in Liverpool was
reduced to 152,940 bales, making, with all other
descriptions, only 219,940 bales. If all the mills
here and abroad were running full time it is esti-
mated that it would take nearly 5,000,000 bales
to keep them going, and now that the supply
from the Southern States of America is cut off,
and we must look for our main supply from India,
it is obvious that the slight increase we have yet
had of Surats will go but a little way in giving
our factory hands work again at present. The
sales of cotton at Liverpool last week were equal to
fully one-third of the entire stock we now have,
and of these sales 54,880 were Sprats. Prices
under such circumstances will rapidly reach a
figure which must stop business. We shall pro-
bably have fluctuations for some time to come,

more mills starting and some ceasing to work,

rather than any permanent improvement. It is
probable, however, that if we have not seen the

worst we have been very near it, and the present
change, slight as it is, has had a cheering influence
upon men's spirits to-day, and even upon the minds
of those not disposed to take the same sanguine
view of affairs. Messrs. John Slagg and Co. re-
Nov. 3, 1862. I port :

" Since Tuesday last the excitement has gradu-
ally subsided, and to-day we have to report a
very quiet but steady market for all descriptions
of goods. Manufacturers generally are firm, at
our quotations, and there is consequently very little
doing, as, to effect sales to any extent, it is neces-
sary to make some concession.

LEEDS, 23d.—As usual at the closing markets
before Christmas, there has been only a small amount

of business done in the cloth-halls this morning, and
that chiefly in fabrics for the spring. The weather
is open and rather warm to-day for the season, a
circumstance that has tended to keep heavy goods
in the dealers rather than the wearers' hands. A

few " job lots " of such, where a sacrifice of price
has been made, have been sold to both home and
export buyers, but the trade for such is all but
closed for the season. In other respects the woollen

trade of this town and district is in a healthful and
satisfactory condition, the manufacturers being well
employed and the stock generally of a moderate
compass. Prices, those of goods as well as those of
wools, keep firm.
NEWPORT (MONMOUTHSHIRE), 22d.—The iron

trade continues rather dull. The works are kept
going regularly, but there is no particular activity.
Quotations remain about the same. There is a mo-
derate demand for rails, and merchant bars are in
fair request. The collieries are generally well em-
ployed throughout the district, and the men are on
full time at nearly all the works. Prices are firm
with an upward tendency as regards house and gas
coals. The following are the average quotations,
free on board :—Steam coal, 7s. 9d. to Bs. 3d. ;
house coal, Bs. to 9s.
ROCHDALE, 22d.—Neither the wool nor the flan-
nel market was au brisk as the late two or threw

markets. The supply was equal to the demand, or
rather more, but manufacturers showed no disposi-
tion to lower the prices for either plain or fancy
flannels. Stocks are not large, and the business done
is such as to meet the requirements of the present
season, so that with the turn of the year an equally
brisk trade is looked for. Yorkshire goods, espe-
cially linseys, are in active demand. Both the flan-
nel and the woollen manufacturers are in good em-
ployment. Wool is firm in price.

„,
IHB COLLIERY EXPLOSION AT WORSBOROUGH
DALE.—Since the explosion on Wednesday last, there is
scarcely anything new to report in reference to the state of
the mine. The upcast shaft has been filled up above the
furnace drift, and the two downcast shafts are sealed, with
the exception of the space necessary for the passage of the
water which is being poured in the mine. The fears which
were expressed a few days ago as to the length of time that
must elapse before the bodies of the entombed miners can
be recovered, find the fullest confirmation in the operations
now going on. The experienced gentlemen who have charge
of the mine have abandoned all hope of getting into it
until months have elapsed. The i dications at present tend
to show that fire exists in the workings, and a complete
flooding of the min. will, it is feared, be required. The
subscription in aid of the berch,wi has made considerable
progress, and now amounts to upwards or send. Attention
has been drawn to the large unemployed surplus the
Hartley subscription, and suggestions made that a portion
of it might be advantageously devoted to the relief of the
sufferers by this calamity. It is fearei that this has tended
to check the progress of the subscriptions, as it will induce
persons who would otherwise contribute to hold back until
they see the result of the suggestion. The adjourned in-
quiry into the deafhs of George Pickering and William
Davy, the men who died soon after being taken out of the
colliery, was resumed on Monday, and was again attended
bylir. Morton, her Majesty's inspector of mines, who con-
ducted is a great degree the examination of the various
iwitnessea• A further adjournment took place.