The Sun.
London, England, 1834-11-03 00:00:00

BELGIAN FUNDS.—BEtUdaELS, OCT. 30.
Actual Debt, 2 per Cent. 5211
llotlitichild's Loan, 5 per Cent 967 ii
Loan of the City, 1832,4 per Cent 9B
SPANISH FUNDS.—Guebhard's Loan, 1834, 5 per Cont.§ 38;
Perpetuelles, 5 per Cent., 17k.

TRADE OF DUNDEE.

(From the Dundee Advertiser,)
Some time back we heard a good deal about the
bad policy of drawing the sul;plies of flax for our
()Teat staple trade from foreign states, instead of at
once beginning to raise it in our own fields, and en-
couraging the Irish, who have long cultivated that
article, to extend their production of it. We refrained
at that time from noticing the subject, partly because
we had other things to occupy our attention, but mainly
from a feeling that the argument for home cultivation
was obviously futile. But the partial failure of the
flax crop in Russia, and the consequent scarcity of
raw material, causing an apparent awkwardness in the
linen trade, obliges us to touch upon the subject, to
which we have devoted some attention ; and we have
drawn up the following remarks, in the hope that they
may be of some use to our commercial friends.
With regard to the policy, good or bad, of depend-
ing on the shores of the Baltic for our supply of flax,
what, we may ask, would be the consequences of try-
ing to cultivate flax at home ? In the first place, it
would be necessary to lay on a heavy duty, to protect
the grower, in his first endeavours to raise flax, against
his cheaper fellow-labourer of the Baltic. In the
second place, it would be necessary again to grant the
manufacturer a large bounty, to enable him to cope
with the Germans, who would soon take up the cudgels
against him with immense advantage. But this sys-
tem of protection and bounty, now so happily ex-
ploded, would not be all. What are we to do with the
large quantity of shipping employed in carrying the
produce of the Baltic to our shores ? The advocates
for production at home will say, that the Baltic powers
take so very little from us that almost all the vessels goi
out in ballast. We reply to this, that it is the policy
founded on such arguments, which, in the case of corn,
has tended to keep our commerce with Europe so long
in the back-ground ; and our panacea is to make every
track: frog ; and the Russians and others will soon find
it for their advantage to take our manufactures in ex-
change for their produce.
We shall now advert to the subject more immedi-
ately under our notice,—viz. the state of the flax, yarn,
and linen trade for the past year. That a gloom hangs
over it just now is not to be denied; but let us examine
the causes which led to it, and whether it will not
soon disperse and leave trade in the full sunshine of
prosperity. The last two crops in Russia have in a
great degree failed. The first rumour of a short crop
in the autumn of 1833 was not believed, as that is a
story we have been in the habit of hearing every year.
But the wolf did come at last, and those who were
were fortunate enough to have information on which
they could rely, immediately set, to buying up all the
flax that they could lay hands on. The impulse thus
dgiven in London soon spread to this market, and or-
ers were sent with every post, and every post conveyed
higher limits. We blame the Russians for exact-
ing such enormous prices for their flax, but who, we
would ask, was it that taught them the way, and set
them the example ? In fact, before the close of the
navigation, the market had become like a gambling-
house ; and we yet remember the anxious faces of the
importets when a Russian mail came in, as they
crowded round the agent of a Russian firm, who either
gladdened their hearts with the news of purchases made
for them, or sent them a sorrowing by the information
that the quotations were much above their limits. The
want of a similar demand for linens, the principal
markets for which had been glutted by the immense
quantities shipped off the previous year, in order to
secure the bounty, at last opened the eyes of the spe-
culators, and a very pretty pickle they found them-
selves in. The inordinate price of flax obliged the
spinners to raise the prices of yarns, and for this pur-
pose they had recourse to the usual expedients for re-
during the consumption of flax,—such as working
short hours, using substitutes, &c. ; and, being for the
most part men of capital, they succeeded in wringing
their price from the manufacturers. The latter did
obtain an advance ; but it was very inadequate to the
rise in flax and yams ; and, though many of them were
obliged to continue this load trade, still there is no
doubt that the prorlge.tion of linens had received a
check ; and the stritzes among the weavers contributed
much to aid this salutary decrease of production.
There had. also been a stop to the immense shipments
of linens to foreign markets ; and as flax and yarns
this winter seem to be going the same way—indeed,
Ire may say, arc dearer than last year—the supply
of manufactured goods will gradually lessen ; and as
old stocks abroad will be sold in preference to purchas-
ing at enhanced prices, should flax next year prove a
good and plentiful crop, the market being then pretty
well cleared of the raw material—yarns and manufac-
tures—a very brisk trade may be anticipated, and we
cordially hope will be realized.
In the meantime, we may note that there is not the
same mad speculation and eagerness to buy manifest
in the market that did so much mischief last year, and
that the high price of flax is attributable to the scar,
city of it. We trust the time is not far distant when
a sound state of health will he restored to the staple
trade of the second port of Scotland.

The Marquis of Ely has bought one of the houses
in Eaton-square for his future town resie,ence.

THE UNITED STATES..--EVerV work descriptive
of the United States of America appears to be still more wel-
come to the English reader than its predecessor. This is not
surprising, for the attention of the world is very naturally di-
rected to a country of such daily increasing importance. To
the views of Mr. 't'.art and the caricatures of Mrs. Trollope,
is now to be arlded the narrative of Mr. Arfwedson, who pro_
seeded to America in the year 1832, Imd has recently reached
London. The Transatlantic wanderings of this traveller ex.
tended to every State of the Union. He was desirous of
forming a just estimate of the true character of the Americans,
of their manners, customs institutions.d The result of his
travels during three years in the United States and Canada,
and continued so late as July .ast, will shortly be given to the
°
public. Information zo recent will be very valuble, not merely,
to those intending to emigrate, but to all who are desirous of
forming correct notions on so interesting a country. This
narrative is announced under the title of " The United States
and Canada, in 1832-34,"