The Sun.
London, England, 1845-12-18 00:00:00

(FROM ♦ CORRESPONDENT.)

The political meeting at Lord JonN RUSSELL'S
residence broke up at half-past two o'clock this after-
noon, when the whole of the ',noblemen and gentle-
men present took their departure, with the exception
of Lord LANSDOWNE, who remained some time
longer with Lord Join( RUSSELL.

Lord JonN RUSSELL and Lord LANSDOWNI re-
turned to town from Windsor Castle soon after eleven
o'clock this morning.

LLOYD'S SHIPPING-(THIS DAY.)

LONDON, DEC. 18.—Wind S.W., fresh breeze and hazy,
with rain.
LIVERPOOL, DEC. 17.—Wind S.E., moderate.—Arrd.
Mary Ann, Brown, Charleston ; Laurina, Quebec. Sailed 17th,
Patriot King, Paddock, Calcutta ; Rimac, Mounsey, Val-
paraiso ; Templeman, Prowse, ditto ; Rosa, Patourel, St.
Thomas's ; Montezuma, Lawler, New York ; Katinka,
Kasely, Azores. Off port, Lena, supposed from Saldanha
Bay ; Paragon, supposed from Africa.
CLYDE, DEC. 15.—Arrd. May, Christian, Honduras.
DEAL, DEC. 17.—Wind S.S.IAI—Arrd. Ganges, M'Donald,
Sydney ; a brig, Cape of Good Hope. Sailed 17th, London,
Freeman, Jamaica.
PORTSMOUTH, DEC. 17.—Put back, Berbice, Blackman,
Berbice. Off port, City of Poonab, Hight, Madras.
SouTrwsirrox, DEC. 17.—S1d. Avon, West Indies.
BRISTOL, DEC. 16.—Wind W.N.W., fresh.—Arrd. Janet,
Brown, St. Andrews, New Brunswick.
SWANSEA, DEC. 17.—Arrd. Thomas Bell, Simpson, Cuba.
GRAVESEND, DEC. 17.—The Duke of Manchester, Murray,
bound to Jamaica, has put back, having been on shore on the
Goodwin Sands.
RAMSGATE, DEC. 17.—The Zietel Wahl, from Newcastle
for Malaga, which put in here yesterday, lost sails, bul-
warks, &c.
TEIGNMOUTII, DEC. 16.—A boat, marked on the stern
James Kelloway, Freshwater, has been picked up near the
Needles, and brought in here.
LLANELLY, DEC. 16.—The Sophia Maria, Ahlberg, which
was on shore in this harbour, has been got off with consider-
able damage.
LIVERPOOL, DEC. 17.—A schooner is on shore, near the
Red Noses.
WHITEHAVP:N, DEC. 16.—The Wasdale, Hollum, from
London, has been driven on shore behind the North Wall ;
crew saved.
AYR, DEC. 16.—The Royal Charlie, of and for Glasgow,
from Lisbon, came on shore last night about 16 miles to the
southward of this place.
DUBLIN, DEC. 15.—The Elizabeth, of Amloch, in entering
Kingstown harbour, struck the point off the West Pier, and
was run aground 'to prevent her sinking.
WATERFORD, DEC. 15.—The Albion, Terdiff, from Quebec,
got on shore under the Church of Ballyhack, and remains.
BRIDLINGTON, DEC. 17,—A quantity of wreck was passed
on the 14th inst. to the southward of the Humber, by the
Mary, Small, arrive off here.
LozsmoN, DEC. 18.—The Beacon Hill, bound to St. Helena,
put into Torqu'„y, 16th inst., with loss of bowsprit and bul-
warks, and (Aber damage, having .been in collision with a
ship (name unknown), off Ushant.

THE CORN TRADE.
(From the Mark-lane Express.)
Something very like a panic was caused by the
rumours circulated last week respecting the probability
of an alteration being made early in June in the laws
regulating the importation of corn, and the depression
has not been lessened by what has since occurred. That
a free-trade would, in the space of a comparatively
limited time, have the effect of bringing down the price
of agricultural produce in this country to the continental
level we have no doubt ; but to suppose that this can be
done at once (particularly with so deficient a harvest as
the last has unquestionably proved all over Europe) is
unreasonable. Whether the existing law remains in
force, a fixed duty be substituted, or the import of wheat
be permitted free, under none of these circumstances can
we calculate on a very large supply of this article from
foreign countries until another harvest shall have been
secured.
In Germany, Poland, and Russia, the utmost scarcity
prevails. The Governments of Holland and Belgium
have already prohibited the export of grain, and the
rulers of the countries first named are likely, should
Great Britain proclaim her necessities by abolishing the
impost on corn, to follow, the same course. Some of. the
eastern Powers have deemed it wise to interdict the
shipment of grain and pulse, and most of the States in
the Mediterranean have shown far greater anxiety to
secure sufficient wheat for their own consumption, by
buying largely at Odessa, than to send any of what they
have on hand to England.
In the United States and Canada the wheat harvest
has, it is true, been productive ; but, leaving political
considerations altogether out of the question (though it
must be borne in mind that our relations with America
are, to say the least, in rather a critical position), it is
scarcely reasonable to suppose that, with a demand from
Holland and Belgium, any very great surplus will re-
main for export to England. Taking all these matters
into consideration, we are inclined to think that circum-
stances do not warrant the present depression in the
wheat trade. Long before any change in the laws was
thought of, it was anticipated that the duty would, in the
regular course of events, fall in the spring of next year
to a very low, if not the lowest point. The wheat now
in bond here, and that lately bought abroad, was pur-
chased under the full expectation of such an occurrence;
and what is more, we may venture to say that the notion
of ls. per quarter was by no means chimerical. What-
ever, therefore, may be the ultimate effect produced on
the value of grain in this country by lowering the pro-
tection afforded to farmers, the possibility of such an
alteration being made ought not to influence prices at
present. Indeed, so far from anticipating increased sup-
plies of foreign, we feel disposed to believe that the un-
certainty felt respecting the future measures of the Le-
gislature is likely materially to decrease the shipments
of corn from abroad; and, on the whole, we can discover
no sound reason why farmers should sacrifice their pro-
perty by pressing sales at a period least advantageous to
themselves, for such we conceive the present to be.
The evidences of alarm manifested during the week
have drawn from us the foregoing remarks. Though
nothing has transpired to lead to the opinion that the
defective nature of the yield and quality of the wheat
crop has been at all exaggerated, and the potato failure
is on all hands allowed to bo nearly, if not quite, as
serious as was at any time apprehended, so great a
change has been worked in the feelings of holders of
grain within the last fortnight by political events, that all
parties have shown a determination to force sales, the
consequence of which has been a serious depreciation in
the value of the article. At most of the leading pro-
vincial markets the trade has been perfectly paralysed,
and, with every disposition on the part of sellers to faci-
litate business, they have found it impossible to induce
purchasers to buy largely.
At Liverpool, on Tuesday, wheat was quoted 3d. to
4d. per 701 b. lower ; flour ls. per sack and barrel ;
whilst all descriptions of spring corn and pulse fell in
the same proportion. Later in the week the depression
was greatly increased by the news of the resignation of
the Peel Cabinet, and ou Friday it was literally im-
possible
any extent.
consuming eneto towns the
.
From
t o
many effect
reports are equally dull, and at several of the markets in
of salesth
eto othera n
the agricultural districts (including the chief shipping
ports on the east coast), the decline in the value of
wheat has amounted to 45. per quarter.
By our Scotch letters it appears that a similar effect
was produced on the trade in grain at the principal
markets. by the news of a probable change in the corn-
laws to that which has occurred in the south. At Edin-
burgh, on Wednesday, the utmost difficulty was ex-
perienced in effecting sales of wheat at a decline of 3 a
per quarter; and other kinds of corn receded in the same
proprtion.