The Sun.
London, England, 1829-11-24 00:00:00

THE SILK TRAM'.

(From a t 'orrespontlent. )
The Liverpool newspapers announce the sale iu
that town, on Friday, the 27th inst., of a very con-
siderable quantity of raw silk, amounting probably to
upwards of 15,0001. The sales of this article have
hitherto been limited to the London market, but the
great extension of the silk manufacture in Maq-
chester, and also in Glasgow, Paisley, &c., has pro-
duced this attempt to extend the sale of the raw
material. The local newspapers speak with exulta-
tion of this circumstance, and compare it to the in-
digo trade, which has recently grown up in Liver
pool, and even to the cotton trade, on which the
prosperity of Liverpool has been mainly founded.—
In a national point of view, this circumstance is im-
portant as evidencing the increase and the real pro-
sperity of the silk manufacture in this country. The
fact is, that for the last four months the demand
for silk goods, and the consequent employment
of the weavers, have been very considerable.—
The weavers have been in full employment, at
least those amongst them who were able and
competent workmen, and the annual returns, when
made, will show a very large, and probably
greatly increased consumption of the raw mate-
rial. The prices of that raw material have been so
low that large purchases have, it is said, been
made in this country by French manufacturers.—
This fact, which has been adduced as an argument
against the present system, really rebuts one of the
most plausible arguments hitherto brought to con-
trovert it. It has hitherto been argued that the
English cannot compete with the French manufac-
turer, because the latter buys his raw material
cheaper and better than the former; but this posi-
tion is disproved by the fact, as now asserted, that
for at least some articles of consumption the French
manufacturer has found it to his advantage to pur-
chase in the English market, which he can only do
by outbidding—that is, by purchasing dearer than
the English consumer. The fact of the increase of
the English trade in silk is indisputable. The only
plausible argument which can be raised against this
fact is, that profits are small, and that wages are
lowered. But it should be borne in mind, that it
is the general state of the country, and of all trades,
and not the particular state of any one trade, which
regulates the rate of profits and of wages. In a
trade where there is an increase of the use of the
raw material, and consequently of the labour be-
stowed upon it, that trade must be, comparatively
at least, prosperous. If wages and profits are at the
same time lowered, that reduction must be owing to
the force of competition, which has always a ten-
dency to reduce prices and profits to an average
level, and which, in this case, make the silk trade
less profitable, only because all trades are less pro-
fitable.—Times.

PRICES OF STOCKS THIS DAY AT ONE O'CLOCK.
Sank stock
s per Ceet. Red. , Ns,tivi Old Annuit,es —
s rer Cent. C0n5....52% 33i 2::,4 New Ditto —
.t 4 per Cent
)itt , Rel. 99,A9348 Ditto l4d. 70 OS pm.
1 per Cent. 1726 — Ditto 500 2d. 70 CS pm.
t oer ( cnt. Ann '0.3!',%14 Ditto l'd. 70 FS pm.
fottc.. ,51.3
Ditto Scrip — Ditto lid. 72 CS pm.
Belk L. Ann. 19%34 , ri: r 1 k for Account —
India Stock — j Irdia for Account
c)iLto Bonds pm. (Cons. for Account 9 I 274 3 234