The Sun.
London, England, 1856-01-03 00:00:00

N. A. Brunner; coronet for the'';
returning county and city of Oxford, presided. Amongst the cola.
pany were, the Right Hon. E. Cardwell, M.P., the - -
Mayor of Oxford, Aldermen Sadler, Dudley, Towle, an 4
Spiers, several members of the town council, the N. A,
of the Grand Lodge of England, &c. &o. Mr. Langston, '
M•P'-• Wee unable to be present owing to illness. 04
thanks for the city members,
mr, incgurnaminvinx
said—Gentlemen,—lt is always sa
interesting occasion when another year has fallen betty,*
the scythe of time to reflect (upon the experience of 'the •
past, either 0 good or of evil, and to look forward to
ills hopes and duties of the year on which we are enter.
ing. If this be the case on ordinary occasions, when we
are carrying perhaps our commercial advances, or ons
legal reforms, or the step that we have takes to pro-
mote the comfort, and following on the comfort, the
spread of educed( a and intelligence among all 11.eillse
theuofnderthese
.people
circumstances, if, I say, it bean interesting occasion
rcumstances, it is still more interesting
to feel that to be the case on the present occasion.
On looking back upon the year that has closed, and
looking forward to those great cardinal events which
may distinguish the year that is to come, I
will be careful not to inkier) those rules by whieVwe
are bound when we become members of this order • but
it is no infringement of those rules to think of the
heroism which the year 1855 has written on the impar-
tial page of hiatory— (hear)—the heroism of Englishmen
of every class, with that refinement of Christian e-iuoa-
tion which has caused mercy on the field of battle, end
which has elevated the character of the British soldier
in every. respect in which that character could be bon-.
oured. Nor, gentlemen, has it been to our sex alone
that the year 1855 has added a wreath of eternal
honour. The names of many English women ought to
live in history in connection with the events recorded of
the year 1855. (Cheers.) Gentlemen, you have been re-
minded that there has been a break in the horizon—
whether it be the break in the clouds which portends**
final clearing of the sky, or whether it be the deceptive
glare which encourages a transient hope, which follows
the outbreak of the gale, it is not for any man in the
country at this time to say. The question at the present
moment, so far as we aro informed, rests in other hands.
I dare say that I express your unanimous feelings in
trusting that it may produce that love, that satisfaction,
that permanent pacification of Europe which may lead
iu future years to a lengthened andlappy peace ; :but if.
that should not unhappily be the case, then let us hope
that at least when the whole narrative comes to be laid
before Eng'aed and the world, the conduct of this country
and her attics may stand in honourable relief, and that the
continuance of hostilities may be found to rest with him
who was the original aggressor. (Cheers.) Sure I ate
that you will address yourselves to the question with the
determination and truth which will enable you to come
to a right opinion, and that the foes of this country
may at all times know that this country contains within •
itself the indomitable energy which has raised it to its •
present perfect or. Gentlemen, if that should be
the case, the sacrifices which have already been made
shall end in a consummation so much to be desired,
the highest blessings will be conferred on Europa and
on mankind. We shall then have disposed of that diffi-
cult question, the realities of the Christian races of this
enlightened world. We shall have seen opened to uni. .
heart of Europe from the Suabian forest to the Euzine
versa' traffic that great river which flows through the
Sea. We shall have seen laid open to humanising civi-
lisation and the Christian influence of commerce the
most beautiful regions of the teeming East—regions re-
lated in Grecian tales and medueval history, which we
are probably, if we live long enough, to see attain, in
connection with British commerce, a greater degree of •
usefulness and a more enduring reputation than anything
which they have attained in former times. (Cheers.)
Gentlemen, if that consummation should arrive, we can-
not doubt that Eng std will pursue that policy by which
slie has lways bean characterised—not less first in peace
than successful in war—and while continuing the
triumph of a pacific courage over all those regions, where
she is the mediator of untold blessings to them, while'she
will be advancing immeasurably to the development of
her own wealth and power—as the year 1853 was the
greatest year that British commerce has ever known—so
welmay hope and believe that the prosperity already
attained is but the type, the outline of a greater degree
of prosperity and power ; of that full outline which she
is determined, under the blessing of God, to accomplish.
It is probable then, that remembering the experience of
the past, and that as she possesses the most heroin sol-
diers, so it will always be her pleasure to maintain her
army and fleets in that state of constant efficiency be-
coming the greatest, the wealthiest, the most powerful
country in the world. (Cheers.) Gentlemen, the issue
of the great question appears to rest at the present
moment with the decision of the Czar in Russia, but
whatever may be the case, I do not think it is in the
power of hostile countries to disturb us in our career
of domestic progress. Therefore I hope, gentlemen,
that the year we are about to enter may be re-
garded by us with hopeful feelings—with feelings of
an earnest desire and a confident expectation
that when we meet again in this place we may be per-
mitted to congratulate ourselves on ,the many events
which may characterise it, tending to elevate this coun-
try in the scale of nations, and to promote the internal
tranquillity and the happiness and prosperity of this
free and generous people.
The hon. gentleman sat down amidst loud cheers.

STATE OF TRADE.

MANCHESTER, JAN. 2.
Messrs. Robert Freeland and Brother, in reviewing
the state of the Manchester market during the past
month and year, report :
"Our market has not presented any new feature during
the past month. The demand for both goods and yarns
has continued very active tbroughout the month, and a
large amount of business has been done. Stocks, with
few exceptions, are very light, and considerable contracts
'have been entered into for future delivery. The staples
more particularly adapted for India and China have been
most in request, and an advance of from 2 to 3 per cent.
has now to be given fur shirtings and madapollams, and
fully 1 per cent, more for yarns. For other sorts quo.
tations are without alteration.

"The past year has been a very unsatisfactory ono to
the spinners and manufacturers of this district. At no
period has the margin been so small betwixt the price
of the raw material and that of the manufactured
article. In the early part of the year many of the
mills, though working full time, had part of the
machinery lying idle. Again, in August and Septem-
ber, the Blackburn manufacturers set the example
of working short time, but were not followed
in other districts ; and row, in Manchester, a number
of the spinners have taken the opportunity to close their
mills in order to an adjustment of wages. All these
circumstances lead us to the conviction that the margin
allowed for cost of production and profit has been too
small for a healbty trade to the millowner. The men.
chant, on the other haul, has had to encounter glutted
markets in every quarter of this world, and has been
compelled to exercise the greatest caution in making his
purchases.
" In the months of January, February, and March
there was very little buying, considering the season of
the year, and a gloomy feeling prevailed ; but at the
beginning of April, India and China purchases were
made to a large extent, induced chiefly by the increased
facilities offered in discounting bills. The Bank of Eng-
land reduced its rate on the sth of that mouth from 5 to
41 per cent. ; on the 3d of May to 4 per cent., and
again on the 14th of June to 31 per cent. To this
easy state' of the money market (as indicated by the
action of the bank) may be ascribed the extraordi-
nary speculation in cotton, which in one month—from
the end of April to the beginning of June—advanced
about 11d. per lb. Unfortunately for the spinners they
became participators in the excitement, but were not
followed by the foreign merchants, who withdrew en-
tirely from the market ; the consequence was a recoil
in June and July of id. per lb. in Liverpool, and in
August business was resumed in Manchester to a fair
extent at moderate rates. September also promised
well, but the upward movement on the part of the
Bank acted as a check. Notwithstanding this, the
amount of business done in October was large, prices
having declined sufficiently to induce buyers of good
means to operate freely. The same kind of business
has continued throughout November and December,
and we close the year with stocks considerably lighter
upon the whole than they generally have been at the
same period,
"The exports for December show very favourably as
compared with those for (the other months of the year,
being 100,894 packages of cotton goods and yarns
shipped from all English ports, which is considerably
over the average, as may be seen by the following state-
ment:—

January 77,425
February
March 68,593
April
May...
June

July
August
September 81,117
October
November 106,292
December

Total for the year 1,017,178
"By reference to the annexed talole of exports, the
exact quantities sent to each separate entrepot may be
ascertained, but the following classification exhibits the
general result at a glance :

Yarns. Piece Goods.
East Indies 20•7 23.5
China
Australia o'o 1.8
Central and South America P 3 18'8
North America
West Indies ... o'o 4'2
Coast of Africa
Turkey, Egypt, and Levant 9.0 10'0
Germany and Holland 37'4 2'6
Other European States 23.0 9.0
" The cotton-market has been steady throughout the
month, and prices are quoted the same as at the close of
November. There is no disposition on the part of con-
sumers to increase their stocics at present, as they may
expect shortly to have a much better choice, although
perhaps a little or no concesdion in price.
" The yarn market has been very active ; the Greeks
haying bought largely. For India and China consi-
derable purchases have also Seen made, and our quota-
tions are about !d. per lb. Higher than at the close of
November.
" The goods market has be on upon the whole remark-
ably healthy. 40-inch shirti rigs have again advanced 3d.
per piece. Madapollams fully lid. per piece. 9.Bth
shirtings are very firm in price. Jacconets, though
held in considerable quantitifes, are without alteration.
Domestics and long-cloths r* ther difficult of sale, but no
yielding in quotations. T-ejoths of the better sorts in
good demand, and, in some i astances, lid. per piece ad-
Vance has had to be given."'