The Sun.
London, England, 1838-03-27 00:00:00

LIVERPOOL COTTON MARKET, Maacii 2a .

3,000 bags were sold at this day's market. The languor reported in
our notice of Saturday's business still exists, though no further reduc-
tMn has occurred in prices. Speculators would have taken a large
quantity if their reduced otfershad been submitted to. 2,650 American,
5,1 d. to Sid. ; 200 Bahia, 71(1. to 71d. ; 50 Fermin, 9%d. ; 100
Surat, 51d.

MONEY and COMMERCIAL MARKET

MORNING CIIRONICLE.-The determination of the banks of
the city of New York to resume cash paymeets on the 10th
of May is the only matter of interest in reference to commer-
cial and monetary matters which has been received by the pre-
sent packet. This important step has certainly been adopted
at a most auspicious moment ; for the shipments of gold
which have been made and are making still for the United
States will arrive about the same time, giving great effect
naturally to this measure, and dissipating all fears as to its
permanency. A more wholesome state of things may, there-
fore, be confidently anticipated, and a brisk business during
the summer and autumn.

MOANING
POST.--it seems now pretty certain that the Ame-
rican banks would resume specie payments on or before the
10th of May next—at all events at New York. It appears by
the annual returns of the Bank Commissioners that the gross
amount of all the liabilities of the New York city banks pay-
able on demand, deducting the notes and checks of other
banks held by them, and the balances due to them from other
banks, was on the Ist of January last no more than 12,920,604
dollars, whereas on the Ist of January, 1837, it was
*485,287 dollars, and on the Ist of Jannary, 1836,
26.918,105 dollars; the diminution during the year 1837
being twelve millions and a half. From the state of the ex-
, et:tinges on Europe it was thought by the Bank Commission-
ers to be quite impossible that specie could be exported, and
more than probable that there would be a material influx. It
was, therefore, considered that the proposed resumption might
take place with perfect safety. Bills on London were nego-
tiated for the packets at 71 to A- per cent, premium. Sove-
reigns were selling at 4 95 to 4 97 each, giving an average
nominal par of 11.71 premium, or 41 to per cent. in favour
of.
paper remittances, exclusive of charges. The demand for
bills rather exceeded the supply, and to this circumstance is
attributed the rise in the exchange.

MORNING lIZRALD.--It appears that the commerce of our
Canadian colonies continues to suffer considerably, and, in
truth, it cannot be expected to improve until affairs are com-
pletely settled. The commercial accounts from the United
States are not at all of a more favourable character than
those received by the last packet; and there is now a very
strong impression that the commercial interests of the United
States will not so easily conquer their difficulties as at one
period the more sanguine parties Lere anticipated. Very_
strong doubts prevail here, under present circumstances, as
to the policy of compelling the banks in the state of New York
to pay in specie on the 16th of May : the influence of that
measure is anticipated to recoil very severely upon the mer-
cantile interests of this country.

MORNING ADCRRTISER.-We find by the statements received
from Quebec and Montreal of the imports into those cities in
1837, that the value of British goods imported was 1,301,1231.
and of Irish manufactures 20,132/.
The commercial interests in the City have been much dis-
appointed by the tenour of the news from the United States.
It is, however, hoped that the resumption of specie payments
in the Union, will give an impetus to the trade with that
country.