The Sun.
London, England, 1845-04-25 00:00:00

MONEY and COMMERCIAL NEWS.
(From The Sun of Last Night.)
A large business was done in Cotton at Liverpool yester-
day, the sales being 20,000 bales, including 5,000 on specu-
lation. Prices advanced 1/Bd. per lb. compared with the
previous quotations ; 2,000 bales Surat went at 23/4d. to 31%d. ;
1,200 Pernambuco at 5%d. to 6%d. ; 200 Egyptian at 51,4 d.
to- 64d. ; and the rest American at 3%d. to 5%d.
per lb. The business done in Shares was coin-
paratively limited, and prices were generally lower:-
Aberdeen Railway, 4%; Barnsley Junction, Half Shares, 4 ;
Birkenhead, Manchester,and Cheshire, 10 11; Birmingham
and Gloucester, New Shares, 4; Blackburn, Burnley, and
Accrington, 914 ; Blackburn, Darwen, and Bolton, 5% ;
Blackburn and Preston, 19%; Belfast and Ballymena, 716
; Bolton, Wigan, and Liverpool, 13 113/ ; Caledonian,
n 1/0 ; Cambridge and Lincoln, 8% 1/4 ; Chester and Bir-
kenhead, 49 48% ; Ditto, Half
,Shares, 25 244 ; Chester
and Holyhead, 161 i 15 ; Chester and Preston Brook, 3% ;
Churnet Valley, 7 ; Cltheree Junction, ; Clydesdale
Junction, 81/ ; Cork and Bandon, 6% ; Cork and Water-
ford, 2% ; Dublin and Belfast Junction, 11 ; Dundee and
Perth, 314 ; Dublin, Mullingar, and Athlone, 3% %; Dun-
dalk and Enniskillen, Si. 1 ls. ; Eastern Counties, 19% ;
Glasgow and Dumfries, 11. 4s. ; Glasgow and Ayr, 62 ;
Grand Junction, 227 ; Great Grimsby and Sheffield, with
new ;%Great Southern and Western Extension, 141% ; Hud-
dersfield Canal and Railway, 6% ; Inverness and Elgin,
1% 3/4 ; Inverness and Perth, 114 prem. ; Lancaster and
Carlisle, 47 ; Limerick and Waterford, 9 8% ; Liverpool,
Ormskirk, and Preston, 2% % ; London an Brighton,
63 62%; Londonderry and Enniskillen. 4% %; London and
York, 33/4 ; Direct Northern, 4% ; Leeds and Dews-
bury, 5%; Leeds and West Riding Junction, 7 6%; Man-
chester and Birmingham, Quarter Shares, ; Ditto, New
Quarter Shares' 53/ ; Manchester, Sheffield, and Midland,
8% ; Midland Railway, 155 1541/2 ; Ditto, 401. Shares, 18
17% ; Ditto, Fifth Shares, 3% ; Newark and Sheffield, 6 ;
Newcastle and Darlington, 51% ; North Wales Mineral, New
Shares, 64 %; North Western, 4%; North Wales, 31.21.
18s. 9d. ; Oxford and Birmingham Junction, 4 ; Preston
and Wyre, 341,E ; Sheffield and Lincoln, 275. 285.; Shrews-
bury, Wolverhampton, and Birmingham, 41h ; Shrewsbury
and Grand Junction, 5% ; Shresysbury, Oswestry, and
Cheshire, 41/2 ; South-Eastern and Dover, 411% ; Ditto,
New Shares, No. 3, 73/4 ; Scottish Central, 7 ; Trent Valley
19 ; Ditto, Extension, 7%; Trent Valley Continuation, 23/:
9d.; Ulster, 50; Waterford add Kilkenny, 4% ; West
Yorkshire, 6/. 5/. 18s. 9d. ; Wexford and Carlow, 5 4%; Wor-
cester and Tring, 43/4 ; Austrian and Sardinian, ss. 6d. ;
Bordeaux and Toulouse (Mackenzie's), 2% ; Dijon and
Mulhouse, 495. 2 • Great Paris and Lyons, 41s. 6d. ; Louvain
and Jemeppe, 41/ ; Namur and Liege, 51/, ; Northern of
France (English), 5% 14 ; Ditto (Rosamel's), English, 2%
%; Orleans, Tours, and Bordeaux (English), 11%; Paris
and Lyons (Laffitte's), English, 2% 3/4 ; Ditto (Ganneron's),
; Paris and Rouen, 42%; Verona and Anconn,3Bs.36s.
In opposition to the arguments advanced for a reduction
'of the duty on butter and cheese, it has been objected that
the introduction of the foreign article injures the home pro-
duce. Of course there is nothing novel in this mode of reasoning,
but its futility is perhaps more apparent than in many simi-
lar cases, sinoe it can be clearly shown that, with all the
advantages of protection, farmers will not make sufficient of
these articles to meet the actual wants of consumption. They
do not avail themselves of them for increasing the supplies
equal to the demand, and neglecting this important branch
of agriculture,' they compel us to resort to foreign iiiarkets for
these essential articles of consumption. Surely a duty of2os.
per cwt. on butter, and 10s. on cheese, ought to be a
powerful incentive to produce enough for home pur-
poses, and at a sufficiently remunerating 'profit, secured
by so high a protection. If it were not for the foreign
supply, in consequence of the English farmers neglecting the
make of these two important articles of butter and cheese,
not one-third of the population would be enabled to
have these necessary articles of consumption, and English
butter could not be sold under 2s. 6d. per lb., and cheese at a
proportionate price. It is likewise a mistaken notion that
the English make of butter is superior to the Dutch ; or why
should the latter command a higher price than British?-
for it is an established fact that it does. What is com-
plained of is this-that whilst the British farmers
cry out that they must be greatly injured, they
do not make proper exei Lions to increase their production,
or otherwise they cannot increase, and in either case there
is good gro Ind for an alteration. We fear much that the
ignisfatuus "protection" leads them heedlessly on to their
own ruin.
The Funds have been flatter again this morning, and the
improvement which occurred yesterday afternoon has proved
temporary only. Consols have been 983/4 to 99 for Money,
and 99% to 99 for Time. Exchequer-bills have realised
58s. to 60s. premium, being firm. Bank Stock continues
steady at 209% to 210%, and India Stock 276%. The
New Three and-a-Quarter per Cents. have been 101 to
1003/4 ; and the Three per Cents. 973/ to 98.
The Foreign Stocks are very inactive. Mexican continues
heavy at 374 ; Spanish Five per Cents. have been 3014
%. Belgian Four-and •a• Half per Cents. have realised 101
to ; and Dutch Two-and-a-Half per Cents. 6314,
The market for Railway Shares looks heavy again,
and in most instances prices have been rather
lower. Churnet Valley are much the same. A
few decided purchases in shares would, however,
possibly have the effect of occasioning a marked rally. The
French lines are all fiat, but as the whole deposit is return-
able, it seems curious that some of the competing lines should
be at a discount, however small,