The Sun.
London, England, 1853-03-16 00:00:00

THE COTTON TRADE.

We take the following from a circular, dated New
Orleans, Feb. 19, 1853 :
" The dull state of the market, and the general apathy
to buy in the face of continued favourable accounts from
Liverpool must be ascribed to the belief that the present
flattering accounts will be succeeded by reports of a
reaction and declining prices in Liverpool as soon as the
present heavy receipts become known there ; moreover
buyers look for a further decline in our market in conse-
quence of the heavy stocks, and even if there were a dis-
position to do a large business, the positive want of ships
would prove a great obstacle, as but few vessels are nn-
engaged in port. A large eet has sailed from various
parts of the world for our port; notwithstanding, freights
would advance immediately upon a few days large
business..
" The receipts continue heavy, amounting for the week
to 56,984 bales, against 45,364 bales same time last year;
this circumstance will naturally tend to increase crop
estimates again, but we find that many well-informed
parties still adhere to 3,250,000 bales as an outside
figure. The receipts in our port since Ist September are
1,198,629 bales, against 823,674 bales same time last
year, and the stock in presses and on ship-board is now
367,070 bales (against 143,589 bales same time last year),
of which 143,000 bales unsold."

The following was received by telegraph :
" New Orleans, Feb. 26, 1853.—Sales of cotton for
the week amount to 52,000 bales. The market is firm,
at 9c. for middling. Receipts from the 19th to the 26th
February, 45,000. bales. Clearances for Great Britain
during the same period, 17,000 bales: The greater part
of the sales was for Great Britain, and a fair proportion
for France, the market remaining unaffected by the ad-
vices from Liverpool, per steam-ship Arabia, of the 12th
Feb. Freights remain firm at three-farthings for Liver-
pool."
Our-correspondent- adds, -that the crop -this year *ill
be about the same as last.

Estimated grand total of the yield up
to 30th December, 1852
«we may say, in round numbers, 4,000,000 ,oz.,
which, at 70s, per oz., is 14,000,000/. sterling ; but its
intrinsic value is certainly more, nearly 16,000,0001.
sterling. The world has never, perhaps, exhibited so
astounding a result as these figures show.
" The number of diggers at the various gold fields may
now be estimated at 100,000 ; and the average earnings
may probably still be calculated at an ounce per man
per week. There has been a slight falling off in the
quantities sent down by escort during the last month ;
but this is partly to be referred to the departure of
diggers to spend their Christmas at their respective
homes.
"It will be seen from the preceding summary that
three several gold fields-L.—viz., Mount Alexander, Bal-
larat, and the Ovens are now being advantageously
worked. The astonishing richness of Mount Alexander
is evidenced in the large amounts which it yields, mit-
withstanding the immense quantities that have already
been drawn from it. The whole country thereabouts
appears to be more or less auriferous.
"Ballarat diggings are again rising into favour, and
their productiveness is being more fully developed. The
gold at Ballarat is more unequally distributed than at
Mount Alexander, and therefore the propoi 'don of suc-
cessful to unsuccessful diggers is not co great as at the
latter place. But then the individual gains a're sdme
cases greater. The labour is more severe, also, than at
the Mount, as the gold lies deeper, and more numerous
trials have to be made before the deposit 3 are struck
upon. There is no doubt that Ballarat will continue to
give out considerable quantities for a long time to come,
ane
Mountd will be a resoi Z; for many diggers who have failed at
th.
" The capabilities of the Ovens, as a very rich field,
may now be deemed an admitted fact. The amount
brought into Melbourne as has yet been comparatively
small, but it is known that large quantities have been
carried privately overland to Sydney, and all reports
agree in attesting the richness of the locality. The
Sydney papers state, for instance, that a gold buyer in
that city lately purchased 500 ounces in one lot, I -om
two men who had just come down from the Ovens. The
data for determining the value of these digging are in-
complete, but enough has been shown to: indicate the
existence of large quantities of the precious metal there.
The labour is severe, owing to a superabundance; of
water, but the chances are greatly in favour of the in-
dustrious worker.

" There are various minor spots throughout the ter-
ritory where gold has been found by explorers, and in
paying quantities. Some of these cases are kept secret
by the discoverers ; others are knoll a, but the limited
extent of the deposits prevents any numerous party from
engaging upon them. But the threw fields already men-
tioned may be considered the grand centres of gold-
digging operations in Victoria."

We extract the following from the correspond-
ence of the Times

MELBOURNE, Jan. 1.
Much dissatisfaction and disappointment have
been felt and expressed here at the irregularity of
them having
fit appears that
btheeenstbeeaamteenrsbfyrosmailiEnngglavenssde,b7manedo
better arrangements must be made by .the com-
panies in England as to securing a full supply i)f
coals at the different stations before any depend-

ADELAIDE.
The chief topics of inter wt here for some time
past have been much the same as those which hare
occupied general attention in England—viz. gold
and politics. From all appearances, it would seem
that the former of these t 3pics has absorbed a much
larger share of conversation in private and comment
in public, and given rise to much more extensive
action with you than with us. Here the treasures
of the earth are now regarded very coolly ; and a
growing disposition is manifesting itself to return
with greater assiduity than ever to ordi—xy indus-
trial, pursuits. The South Australian d' gangs at
Echunga have proved, so far, to be jrit what I
stated in a former letter--rich enough to keep quiet
people in the neighbourhood of their homes, but
not rich enough to attract hither hordes of vaga-
.bonds from all corneas of he world. The armed
escorts' still travel regelo-ly frOm Bendigo and
Mount Alexander to Adelaide, brir ging here to
wives and families the products of the labour of
their absent heads. The Assay-office has nearly
done its work, and will probably die out at the
time which was originally named as the iimit of
its existence—the 28th of January next. Gold
tokens of 11. value (estimating standard gold at
71s. per ounce) are now issued from the Assay-
office, but do not find their way into circulation,
inasmuch as coin of the realm is now sufficiently
plentiful to meet the ordinary demands of busi-
ness. Our merchants and capitalists have begun
to discover that it is wiser policy to send their
gold to Britain, in exchange for specie, than to con-
vert it into South Australian sovereigns. The cry
for a mint is consequently very much on a decline,
the business of the Assay-office materially reduced,
and the shipments of gold-dust largely increased.
The Sydney takes from Adelaide 97,000 ounces of
geld, a quantity larger than her freight from Syd-
ney and Melbourne combined.
There is a great demand for labour here, and
wages are very high. Mechanics are receiving from
16s. to 20s. per day, and unskilled labourers from
10s. to 15s. Domestic servants command 9s. per
week readily, and even the rubbish and refuse that
we get under the name of needlewomen are eagerly
sought after. It is, howe'ver, only to supply a tem-
porary emergency, and great permanent mischief is
being entailed upon this colony by directing upon
it a stream from the sewers of your large towns and
workhouses. Depend upon it, it is a popular error,
and a serious one too, that the people who are in-
herently useless at home can be made valuable
here.

• Burra shares have experienced a slight decline.
They have been up to 158/. ; they stand now at
150/. Gold-dust sells readily at 725. Flour is
e, ening at 191. and 201. per ton. The rate of inte-
rest varies from 8 to 20 per cent., according to the
security offered and amount required.