The Sun.
London, England, 1851-02-05 00:00:00

WEDNESDAY EVENING FEBRUARY 51 1.851

STATE OF TRADE.
(From the Manchester Guardian of this day.)
MANCHESTER, TUESDAY.—The decline of a quarter of
a cent per lb. in the price of cotton at New York, and a
half-cent at New Orleans, consequent on intelligence of
the error of the stock at Liverpool, and of the advance in
the rate of interest by the Bank of England, falls short
of what the apprehensions prevailing here last week had
prepared all parties to hear of. Some of the letters and
circulars aro extending the estimates rather further than
before; but others, including private letters from par-
ties much confided in, still adhere to 2,100,000 to
2,200,000 bales. These accounts have not, however,
produced any favourable effect upon this market, which
they might have done, from the smallness of the decline,
under the circumstances, were it not for the considera-
tion that successive unfavourable reports from Manches-
ter must reach the States, and for the fact that opinion
here is in a shaken and unsettled state, as to the supply of
cotton. At the same time, we are in receipt
of advices of a dull and declining market for yarns
and goods at Bombay, and of a giving way in the
prices of both at Calcutta. These circumstances, toge-
ther with a state of things in Central Europe which
keeps the hands of the merchants completely tied up,
have rather added to our depression, and increased the
weakness of prices. There has been no selling of goods,
except at some concession, and but little in that case.
The transactions in yarns have been individually small,
snd extremely limited in their aggregate amount;
though, as the sellers have met the buyers on lower
terms, the number of purchases has somewhat increased.
Spinners are for the most part willing to take to id.
per lb. less than they would have dune lust week. 'The
India merchants have not come into the market either
fir yarns or goods.
ROCHDALE, MONDAY.—The market today has been
slack, and the business transacted upon a very limited
scale. The buyers are offering lower prices, and in some
cases the manufacturers have submitted to a small re-
duction. The wool market has been quiet, the manu-
facturers showing an unwillingness to purchase, and
prices are stationary.
MACCLESFIELD, TUESDAY.—We have had some buy-
ers during the last few days, but very little business has
been done; the prices demanded evidently operating
against any desire to purchase. Some descriptions of
really good and new styles have found purchasers at
pretty near asking prices; but the quantity taken bore
more the appearance of procuring samples than transac-
ting real business. Thrown silks are in very little request,
probably owing to the near approach of the public sales
of raw silks, announced to commence on the 18th
instant, and manufacturers generally abstain from
purchasing until their result is known. The dyers
complaiu of the sudden falling off in the receipt of
;browns from manufacturers, conclusive evidence that
the latter are slackening operations materially.'
HUDDERSFIELD, TUESDAY.--WO have no new feature
to report in our market of to-day. The business that
has been done in the Cloth Hall has been light. Stocks
continue low, as the exchanges have been principally to
order. The fancy trade is in a depressed state, the mild
state of the weather hindering persons from buying heavy
goods, and it being full early for the spring trade.
HALIFAX, SATURDAY.—There is no noticeable change
in the state of the worsted trade. Stocks are generally
low, and the principal business is done to order, so that
the quantity of goods changing hands in our Piece
Hall is comparatively insignificant. For damasks and
some descriptions of fancy goods, there is a fair demand;
and the inquiry for low lastings is unabated, but the
supply 1s far below the demand. Both in yarns and
wools there seems a greater reluctance to operate; and
nothing has occurred materially to affect the quotations.
LEEDS, TUESDAY.—We have had a quiet market to-
day; but, on Saturday last, a very fair quantity of goods
were sold. The makers are generally well employed;
but the advance in the price of wool has had a tendency
to curtail operations.

BETTING AT MANCHESTER.—TUESDAY.
LIVERPOOL STEEPLECHARE.-1 0 to 1 agst Vain
Elope, 12 to I agst Maria Day, 12 to 1 apt Abd-el-
Kader.

Two THOUSAND GUINEAS STAKES.—Even on Grecian.
CHESTER CUP.-12 to 1 agst Rhesus (t and after-
wards offered), 20 to 1 agst ilaricot (t), 25 to 1 agst
Black Doctor (t), 27 to 1 agst Wallflower, 30 to 1 agst
Flying Gout (t), 33 to 1 agat Russboroug,h, 33 to 1 agst
Brother to Dough, 33 to 1 agst Montague (t), 35 to 1
agst Peep-o'•day Boy, 1,000 to 15 agst Lady Evelyn (t),
1,000 to 15 agst Vampire (c), 1,000 to 15 agst Joe
Sutherland.

DE:mm-11 to 2 apt Grecian, 13 to 2 agst Prime
Minister, 13 to 1 agst Mountain Sylph colt, 13 to 1
agst Newminster, 25 to 1 agst Lamartine, 27 to 1 agst
Storm, 1,000 to 11 agst Sorus.

Nothing done on Metropolitan or Northamptonshire
Stakes.

FROM THE LONDON GAZETTE
OF TUESDAY.
BANKRUPTCY SUPERSEDED.
Edward Armitage, cotton spinner, Clifton-bridge,
Halifax.

BANKRUPTS.

William Hood, commission agent, Lawrence-lane,
Cheapside, to surrender Feb. 14, at two, and March 18,
at twelve, at the Court of Bankruptcy. Groom, official
assignee, Abchurch-lane; Pain and Hatherly, Gresham-
street, City.

Richard Tredinnick, auctioneer, Threadneedle-street,
Feb. 15, at twelve, and March 29, at eleven, at the Court
of Bankruptcy. Nicholson, official assignee, Basinghall-
street ; Sole and Turner, Alderinanbury.
Andrew Eve, turner, Charlotte• street, Fitzroy-square,
Feb. 14, at half past twelve, and March 18, at eleven, at
the Court of Bankruptcy. Stansfeld, official assignee;
Colombine, St. Martin's-lane.

Charles Watt, baker, Southampton-street, Pentonville,
Feb. 12, at half-past twelve, and March 18, at twelve,
at the ourt of ainkruptcy. Stansfeld, official assignee;
Tweed, Lincoln's Inn-fields.

gest a difference, when the House will naturally desire
to respond with unanimity in the adoption of the Ad-
dres which I have the honour to second.—(Hear, hear.)
Her Mejosty congratulates her assembled Parli Anent on
the continuance of pellet ; and when we reflect how
much the prosperity of the country is stimulated by
peace with foreign states—how much misery is
averted—we must rejoice in the fact that the con-
viction is generally and deeply felt that peace
should bo preserved at the risk of everything
but geed faith and national honour.—(Hear, hear.)
Nor can I resist the pleasure of stating my deep convic-
tion that human skill and ingenuity are largely contri-
buting to its permanent continuance. The great ameba-
nice' power of the age, that important agent of civiliza-
tion, steam, by uniting the distant portions of Europe,
and consequently binding in ties of friendship and
friendly communication distant states, will render them
naturally desirous of peace, while the terrible impetus it
gives to the destructive power of armaments renders their
use more unfrequent and and dreaded. Her Majesty has
graciously stated her conviction that recent treaties with
Brazil render more hopeful the extinction of the slave
trade.—(Hear, hear.) Whatever may be the diff.rence of
opinion amongst Hon. Members as to the mode in which
this will be ultimately effected, in this I take it we aro all
agreed, that we earnestly desire:the utter abolition of this
accursed traffic, and that we shall all rejoice when it shall
be read of only in the history of the past.—(Hear, and
cheers.) Her Majesty also congratulates her assembled
Parliament that, notwithstanding the large reductions in
taxation, the revenue will he satisfactory, and also on the
state of commerce and manufactures, and the consequent
general employment afforded to the working classes.—
(Hear, hear.) Results are the sole tests of legislative
measures in the long run. Last year duties were re-
pealed or reduced to the extent of about a million and
a half. It is true they did not affect the
revenue until part of the year had expired,
but still they caused at the least a reduction
of a million ; yet, despite of this, the national
revenue has suffered no reduction—(Hear, hear)—it
has even exceeded that of the last year, and the Chan-
cellor of the Exchequer is in the happy position of
having a surplus at his command.—(Hear, hear, and
cheers.) Now, the question arises, why has not the
revenue proportionably decreased? I apprehend there
can be but one answer—the prosperous condition of the
people, and consequent increase of consumption, have
swelled the receipts.—(Hear.) I take one item as
strongly elucidating this position. The duty on sugar
was reduced one shilling per cwt. The consequent loss
to the revenue, taking the consumption of the preceding
year, should have been 311,4541., but it resulted in a loss
of 9,1801. only, a good practical reason for
reducing other items of large consumption where the
duty presses heavily, and one which I doubt not will have
its due effect in future fiscal arrangements.—(Hear,
hear.) In a few days the returns of the Board of Trade
will be issued. The returns of the first 11 months of
1850 will enable us to anticipate the results.—(Hear,
bear.) The exports for the first eleven months of
1848 were •.. •.• ... 44,407,912/.
1849
••• •.• ••• ... 54,089,809/.
1850
•60 400 525/
In what did this increase consist? Principally in
British manufactures, cottons, woollens, linens, silks,
and hardware.—(Cheers.) This increase has taken
place, too, under most unfavourable circumstances. The
great staple is cotton—at least the great employing ar-
ticle is cotton, but, in the cotton-producing states of
America, last year, there was a short crop, an arise of
price of full 75 per cent. over the price of the early part
of the preceding year was the consequence.—Hear,
hear.) For instance, Orleans cotton was in January,
1849 ...
••• 4id. per lb.
1850.
.7 d. ”
It is well known that a rise in the price of cotton rapidly
diminishes consumption.—(Hear, bear.) It did so con-
siderably in this instance, but owing to two circum-
stances the effect was much mitigated. Ist. When the
material is dear the best quality is always run upon by
manufacturers, as, for a smaller quantity in weight they
get the higher price; our skill in the application of ma-
chinery, and the high character of the machinery itself,
has enabled us in finer fabrics to surpass all competition
—(Hear, hear)—and the consequence was, that with all
our disadvantages we partially shut up the American
mills and gave our people full employment.—(Hear.)
2nd. Full employment secured good wages—(Hear,
hear)—and good wages and cheap food enabled
the industrial classes to dress well.— (Cheers.)
The foreign market and home consumption kept the
mills going, and I find 50,000 mare hands were em-
ployed in the factories in 1850 than in 1847—the gross
numbers being in 1847, 544,876; 1850, 596,028.—
(Hear, hear.) It may be said that the high price of
fabrics helped to swell the amount of exports, but, in
point of fact, quantity was in excess in reference to
cloth; while in yarn there was not only a decrease in
quantity but in value, the increased value being prin-
cipally in labour.—(Hear.) I have the statistics to refer
to, but will not weary the House by doing so. Now, if
our manufacturers have accomplished a result so grati-
fying under unfavourable circumstances, what might we
not have expected had the cotton crop been
a full one, and had the price of the raw
material continued low ? Instead of 50,000 hands, we
should have employed three times that number.—(Hear,
hear.) The low price of cotton brought us through
the year 1847—the high price of cotton acted adversely
in 1850—and here I must pause for a moment and ask,
how important is it that we should be energetic in our
endeavours to get the railway communications of conti-
nental India executed ?—(Cheers.) We are depending
on one quarter of the world only for the means of em-
ploying our operatives in the cotton factories, when we
should be blessing our fellow-subjects by the
activities of commerce, and have a fresh market to de-
pf,nd upon, and that, too, the home. I desire also
to advert to the gratifying fact that the increase of fac-
tory hands, to which I have referred has not been ob-
tained at the sacrifice of infantile energy.—(Hear, hear.)
There has been a altercate since 1814 of 20 per cent. in
the children employed, and an increase of 81 per cent.
in the adults.—(Hear.) I think it cannot be denied that
the poor of every class are better fed and clothed than
they have ever been. If I refer to the poor-law record,
I find that the number of able-bodied paupers have
largely decreased during the year, and the amount of
general relief has been largely lessened. True, some of
the agricultural districts are exceptions and on which I
shall be called on presently to speak. If I refer to our
criminal records, I find the facts to be equally gratify-
ing. In the city of Manchester the returns of persons
apprehended for crimes in the three last years are, in
1848, 6,587; 1849, 6,277; 1850, 4,687. The West Riding
of Yorkshire, in its criminal prosecutions, shows a
similar result. I now come to another result of the po-
licy of the present and the last Ministry. Two years
since London was crowded with deputations ardent in
deprecating any interference with the navigation-laws.
Fortunately for themselves and the country, their en
treaties did not avail. They returned to their localities
to rejoice in the inert ase of the shipping trade rather than
to mourn its gradual extinction.— (Hear.) It is very true
the entrance and clearing of foreign shipping has in-
creased, but it is equally true that British ships have
also increased. I will admit all details of numbers of
ships and tonnage which I have before me for the first
eleven months of 1848, 1849, and 1850. I give you the
gross increase of tonnage the first eleven months of 1849
and 1850:

larger revenue than from our present limited censump-
tier), resulting from the almost prohihiqve duties of she
present tariff ?—( :leer, hear.) But her Majesty expresses
at the same time the sympathy she feels for the own,re
and occupiers of land in the difficulties vshich now affect
them, end a hope that the prosperity of the maeutac-
turiug and commercial interests will soon be productive
of bent &lel effect to the agricultural body.—(Cheers.)
And here, I trust, I may fairly ask the question, if such
is the state of the commercial, manufacturing, and
shipping interests, can it be supposed that the agricul-
tural is the only interest not destined to share
in the general prosperity ?—(llear, hear, and
cheers.) Is land exempt from the great law of progression ?
It is impossible for wheat to fall from 7s. to ss. per
bushel without causing great anxiety to owners and oc•
cupiers of land, but no one can doubt that commerce has
its ever-growing connexion with the soil by the substantial
ties of property—(hear, hear)—and that the interests
of all are identified ; and the fact of distress existing
calls for every practical sympathy to he shown—(Cheers)
—and that by the removing of every unjust burden
which the friends of agriculture can show to press un-
fairly on its interests, and rejoicing in the fact of
the alteration of the law, I cannot hesitate to
express my wish that more time had heal allowed
to adjust the interests which had, under the old
and vicious system, hesn placs d ia a false
position. It is easy to say that this adjustment is en-
tirely an elfair of landlord and tenant. It is so, but
when we reflect that no good tenant could farm without
imparting value to the land which it takes years to ab-
stract, a re-valuation at present prices is simply giving
to the landlord a rental arising from value imparted by
the expenditure of capital by the tenant. I believe it to
be our duty, Sir, not only to carry out abstract princi-
ples of right, but where they affect large interests, by
extensive alterations in the laws, that time should be
given for the adjustment of the interests to the new and
altered state of things.—(Hear.) But while I 'mike this
admission, I believe that the good wishes to which
her Majesty has given utterance in her gracious
speech will be speedily realised, though in the transac•
tion we must be prepared for difficulties and loss, espe-
cially to parties who are slow in adjusting their course
of business to the altered state of things. It has, Sir,
always appeared to me that we have looked at the price
of wheat too much as a criterion of distress or pros-
perity. It is calculated that we have about 19 millions
of acres arable, and 38,000,000 of pasture and meadow,
while of the 19 millions acres less than 4,000,000 are
employed in growing wheat. Agriculturists it is,
therefore, obvious derive a large portion of their income
from stock, and to them therefore the prosperity of
trade and manufactures is a positive benefit and
source of profit, and we find that although the
price of wheat has declined the price of
meat has declined very little, and that it was cheaper
during many years of protection than it has averaged
since. And I need not point out to the House that this
has arisen entirely from the larger consumption of meat
by the labouring classes--a circumstance at which we
may well rejoice.—(Hear, hear.) The working men of
this country dine now as working men should dine, on
edibles furnished by the butcher. We have, unfortu-
nately, in this country no means of estimating the
annual produce and consumption of food, and we must,
therefore, content ourselves with an approximation tof.icts.
I collect from the best sources that there were slaugh-
tered in England, in 1850,60,000 more beasts than in 1849,
and we have local returns which give value to these
calculations. The largest cattle salesman in Liverpool
gives the following return of sales for the past year:—ln
1849 there were 109,287 oxen; in the year 1850,
123,213. They also state in their circular our imports
of sheep to have been on a less extensive scale from
Ireland, and we are now witnessing, to us, the novel
feature, that store beasts have been lately sent into that
country.—(Hear, hear.) I find the prices of meat during
the last six months and the corresponding six months of
a year since have been nearly the same. I find the in-
crease of consumption in England to be the counterpart
of Scotland. The City Chamberlain of Glasgow makes
the following return of animals slaughtered in tha
city:—

1848 ••• ••• ... 132,150
1849 ••• •.. ... 161,527
1850 ••• ... 185,255
The increasedi consumption has fully kept up prices too
in Scotland. I have now before me the prices current of
Smithfield, Glasgow, and Liverpool fur the last two
years, but I need only refer the House to Mr. Porter's
admirable work, just published, and there it will be
found stated, on unquestionable authority, that beef and
mutton are dearer now than they were in 1843, 1844, or
1845, which were years of protection.—(Hear.) I have
also before me the statistics, with which I will not weary
the House, of the meat and stock carried by the principal
lines of railway, which proves most unquestionably that
our own farmers have in the three last years produced
much larger quantities of stock. I have shown the con-
sumption is larger than ever, and I ask them if there
is not solid ground for the belief that though there must
be suffering in the transition, yet agricultural interests
will be based on a solid, substantive foundation, and
that it will depend on legitimate courses of prosperity,
and that agriculturists will carry out all their engage-
ments with the sympathy of every class of the commu-
nity, with no fear of distrust taking the place of mutual
confidence, but with such a union of all the interests of
the country as shall be the best guarantee of commercial
greatness and domestic strength.—(Cheers.) It I am
not trespassing too much on the time of the House, I
desire to call its attention for a few moments
to the cheering prospects of progression in Ireland,
which I doubt not will eventually be a source of strength,
and contribute her quota to the general welfare.—(L'aid
cheers.) Her comparative advance in industrial pur-
suits in the last sixteen years has been much greater
than in the sister portions of the kingdom, Scotland and
England.—(Cheers.) The number of persons engaged
in cotton, silk, and woollen factories, I find has inert aced
158 per cent., while in Scotland the increase has been
51 per cent., and in England 67 per cent., and I find our
cotton and flax manufacturers alone give employment
to 350,000 persons at the present time, and that
300,000 females are employed at sewed muslins,
the cost of which is almost entirely labour and profit.
On turning to agriculture, I find the prospects are even
more cheering. Capital is flowing into the country;
land is being rapidly consolidated from the old and
vicious state of conacre to farms of from 100 to 200
acres. In proof of this, I need only refer to Captain
Larcom's returns; large breadths of land are being sown
with cereals, the value of stock is increased, and that
too much neglected bnt most valuable link between the
agriculturist and the manufacturer, flax, is being more
extensively and profitably cultivated; and I note with
hearty pleasure the great eagerness of the people to es-
tablish packet-stations manufactories, as evidencing the
desire which is always the precursor of success. We see
also in Ireland the railway making its natural capa-
bilities available, and rapidly opening up its
resources. Soon will its most distant parts be placed
in ready communication with England ; and here, Sir,
I cannot but regret that the advice of a late illustrious
statesman, whose loss we deplored near the end of the
last session, has net been more extensively carried out,
and especially that the city of London, to whom we look
for the initiative in this matter, has not prosecuted her
intention beyond a public meeting. That corporation
holds very large estates there by the favour of former
Sovereigns.—(Hear, hear.) They possess, therefore,
a personal interest in the country, and I had hoped
to have seen laage tracts of country vested by purchase
to them and to other corporate bodies, who could
invest capital largely, and who, while blessing their
country by the enterprise, would have left a valuable in-
vestment to their successors, and an enduring monu-
ment of their patriotism and public spirit.—(Hear,
hear.) I cannot but point with admiration to the con-
duct of a brother of the Noble Lord the Member for
Evesham. He has turned a desert into a garden—a
large estate from which no rental was derived into a re-
munerative property.—(Loud cheers.) He deserves
well of his country, and his conduct is worthy of imita-
tion. There are most false impressions abroad as to the
Irish character. I know from personal experience that
if you pay the Irish labourer well, show him you care
for him, and he is the most faithful and hard-working
creature in existence; but if you find him in one part of
his native country working for fourpenco per day, paid
in potatoes or meal, and that where most of
the misery exists, can we wonder that the results are as
we find them? but give him legitimate occupation,
remunerate him for his services, show him you appre-
ciate those services, and you may be sure you put an end
to all agitation. He will be your faithful servant, and
the loyal subject of his Sovereign.—(Cheers.) I trust I
have, Sir, been able to show, though ineffectually, that
the tone of trade in the whole country is healthy, sound,
and rational—(Hear, hear)—the manufacturing inte-
rest busy and prudent—the people better fed and clothed
than ever; that the agricultural interest must share in
the general prosperity—(Hear, hear)—and with an ear-
nest desire that ail the wishes of our most gracious and
much-loved Sovereign may be fully realised, I turn
briefly to one or two other points in the Address,
asking the House before I pass to the next
subject to congratulate it, and through it the nation
which it represents, on the satisfaction with which we
can look forward to the visit of the world to the metro-
pelis.—(Hear, hear.) We cannot show our visitors
that which some other nations could have shown them.
The treasuries of art are not ours pre-eminently. In
much that would have qualified and refined taste we are
deficient, but, Sir, we are by no means deficient in those
things which constitute the well-being of a nation.—
(Hear, hear.) We abound in the evidences of substan-
tial greatness—of permanent prosperity—uf genuine
freedom—of the Sovereign's generous sympathy with
the people, and of the people's intelligent devo-
tion to the Throne—(Luud cheers)—and com-
mercially, while we fear no competitor, we court
reciprocity, and I believe this great meeting, while it
tends to our well being as a nation, will conduce to the
peace and happiness of the world.—(Cheers.) Her Ma-
jesty in her :gracious speech next refers to the assump-
tion of certain ecclesiastical titles, and to a Bill to be
hereafter laid on the table of the House, and on this
point I trust thee the wordieg of the Address will com-
mend itself to all.--(Hear.) No lion. Member, by giv-
ing his ti3.Sen t. to this Address, is bound to any subsequent
course of action, nor cars I think that Hon. Members
Professing the Roman Catholic faith are by it committed
to any course of proceeding until the Bill to which
it refers is laid on the tablo of this House.
Her Majesty refers to a fact patent to ail,
and while we all feel bound by every tie to protect the
civil and religious liberty of the subject to the utmost,
we are all equally bound, by our devoted loyalty and
love to our Sovereign, to protect her prerogative from
aggression of every kind also, and that to the utmost.
We are not called on, Sir, to any reactionary course;
the antecedents of the First Minister of the Crown are a
pledge more than sufficient to the most timid mind, that
while he would constitutionally preserve every right of
the Crown, and her Majesty's civil supremacy, and
while he will oppose determinedly the introduction of a
code of laws alike opposed to the rights of the Queen
and the civil liberty of the subject, he will not sully hie