The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1839-07-23 00:00:00

THE UNITED STATES.

We extract from the latest New York papers the following
information relating to cotton and money :
NEW YORK MONEY MARKET.
(From the Weekly Herald, of July 6.)
In looking round upon the general condition of the money
market, we find, both in this city and the interior, a growing
depression. This depression must continue until the banks
and markets have passed the crisis which is now approaching.
The condition of the western banks has been, for the past
few weeks, approximating that of the southern or cotton
banks ; that is, they have been directly or indirectly concerned
in the produce of speculation, and their operations have been
sustained by the arrangement with the city banks, by which
their bills have been redeemed. The markets for produce
have so long been choked, and the supply has exceeded the
demand to such an extent, that purchasers would not come
into the views of buyers. The whole circle depended, in a
great measure, upon the movements of cotton. The confi-
dence entertained in that article caused the banks to back the
operators in it, until the news by the last few packets seem
to have shaken that confidence, and the southern banks are
now rapidly decreasing their circulation. This causes a fall
of prices in those markets where the western banks are in-
terested. This fall occasioned extra exertions on the part of
the western banks to sustain their customers in this market :
their issues are, consequently, large, and much later than
usual in the season. This caused a continued demand upon
the redeeming, banks late in the season, and in the face of
which came financial news, from England, of a disastrous
character. No alternative was left the city banks but to cease
to redeem the western notes. The consequence must neces-
sarily be, that, after the 27th instant, an immense quantity
of western paper will be afloat, which will subject the issuing
banks to a suspension. They will, however, in all probability,
take care of themselves ; in which case, the dealers here will
find great difficulty in sustaining themselves through sales of
produce, at greatly reduced prices. This may subject them
to great loss, but will be highly beneficial to the community.
(From the Courier and Enquirer.)
FRIDAY EATNING, JULY .—The Stock Market to-day
has again evinced the same inactivity and depression which
has charaterised it throughout the whole of the past week,
accompanied by a further tendency to decline in the prices of
most descriptions. In the Money Market we are unable to
notice any improvement, and this fact, taken in connexion
with the inactivity incidental to the season, and particularly
felt at the present time, may account, in a great degree, for
the languor which now exists in all monetary affairs. The
steam-ship Liverpool sails to-morrow, and will take out ac-
counts of a heavy Stock Market, and an unsteady and limited
demand for cotton, notwithstanding the improved account of
the English and French markets for the article received by
the same vessel. We are, consequently, again looking out
with anxiety for further advices from the other side, by which
our markets will be, in a great measure, governed for some
time. The British Queen is generally expected about Sunday
week next, and the Great Western leaves Bristol for this
port to-morrow. _

Sales were to-day of United States Bank at 113 A :, North
American Trust Co. 76; Delaware and Hudson Canal Co. 70;
Vicksburg Bank 42 sellers 30 days ; Stonington Railroad
Co. 261 ; and Harlem Railwood Co. at 50.

The amount of bills offering on Europe continues limited,
but is adequate to the demand. The sales made for the
steamer Liverpool, to leave to-morrow, and the Havre packet
of the Bth, were chiefly at 91 to 91 per cent on England ; 5f
12} to 5f 15 on France ; 41c. on Holland : 36tc. on Ham-
burgh ; and 81 to Mc. on Bremen. The Bank of the United
States continues to draw on London at 91 per cent premium.

COTTON TRADE.
(From the New York Morning Herald of July 6.)
The trade continues to present the same appearances which,
have characterised it for the last few months. The contest
between the spinners and holders goes on with increasing
rancour as the denouement approaches. Since the arrival
of the Liverpool, our own market, although very quiet, has
been more firm in prices. Purchasers, however, do not
come forward. Both parties seem to be waiting the effect of
news at the south.

The following is a comparative table of the receipts, stocks,
and shipments, tQ the present date, in all those ports of the
United States :

Receipts. Shipments. Stocks.
1839 1,321,000 932,807 191,678
1838 1,710,000 1,384,184 189,176
1837 1,279,000 1,009,565 183,536
The impression now among holders on this side is, that the
spinners are short of their usual stock of the raw material,
and that their purchases are from hand to mouth only. They
undoubtedly purchase small, in the full belief that the com-
ing crop will be large. Every exertion is made by their friends
to sustain them in this belief, by circulars containing repre-
sentations that the crop is unusually forward, and will be in
market early' in August. To all dealers it is well known that
cotton in the most favourable seasons, never reached market
in any quantity before the latter part of September. These
lame statements have rendered holders more confident of
success, and the news of a revival of trade in Manchester
has rendered them very firm.

The great principle of supply and demand is that which
should regulate trade of all kinds. An attempt has been
made by speculators on this side to make the most of the
short crop, by forcing up prices in the face of a decreasing
demand : holding and stavir, off on both sides, has brought
the balance of the crop so late in the season that the whole
question of its prices depends upon the probable quantity of
that which is now growing. Knowing this fact, the utmost
exertions are made hy both parties to drive into maturity in
order to bias the malfernents of the other. The attempted
estimates are, therefore, very conflicting. One party, on the
basis of high prices obtained, and a favourable season run up
the amount as high as 1,630,000 bales. The other, predicating
their belief on the derangement of money affairs, and the
alledged drought in the cotton sections, limit their ideas to
1,350,000 bales. _ _

The arguments ott both sides have some show of plausibi-
lity, and may operate more or less, but, at this season of the
year, it is preposterous to attempt to estimate, with any de-
gree of accuracy, the extent of the growing crop. The pre-
sent receipts, as indicated in the above table, are ,now near
the lowest estimate which has been made of the past crop,
and the arrivals have, at latest accounts, fallen-off in a great
degree. They were as follows

At New Orleans, for the week ending on the 27th ult., 650 bls
At Mobile.. 0 1 „
At Charleston BOO „
At Savannah .
At Florida.
At N. Carolina
At Virginia '

Total receipts l5lB bls..
These small receipt indicate, that the crop is nearly all in.
The stock on hand is about the same as last year, while the
exports have fallen off about 450,000 bales. This is the exact
position of the crop on this side. The new crop will not,
possibly, reach market before September, nor can any esti-
mate be formed- for its extent. Under these circumstances
we are of opinion, that, without interference of any kind,
prices would have ruled nearly at the present rates; but the
action of holding has destroyed trade an:l checked demand,
rendering kricesartiticial and subject to revulst;tn._

UNITED STATES COTTON MARKETS.

NEW YORK MARKETS, JULY 6.—The advices received,
on Sunday last, from England, by the steam-ship Liverpool,
to the 13th ult., though regarded as more favourable, have
failed to produce any permanent change for the better in our
market, which has continued in an unsettled and inactive
state up to the present time, holders generally demanding an
advance of lc. on last week's prices, and which has, in some
instances, been obtained for good quality, but cannot be con-
sidered
_as established; and of common descriptions sales
have been made fully as low as previous to the Liverpool's
arrival. The transactions of the week are estimated at 2,000
bales, viz., 950 bales Mobile, at 114 c. to 151; 400 bales Up.
land, at 111 to Hi ; 350 bales New Orleans, at 11¢ to 15;
and 300 bales Florida, at 114 to 14.
SAVANNAH MARKET, JUNE 2S.—The sales of cotton
amount to 406 bales, at 7to In cents. Cleared in the same
time 1,715 bales, leaving a stock on hand of 5,547 bales Up-
land and 298 bales Sea Island.

The Savannah Shipping and Commercial List estimates
the stock of Cotton held at the following places as annexed,
viz., at

,
Savannah, June 20 5,845 bales.
South Carolina, June 21..
Mobile, June 21
New Orleans, June 21 52,304
Virginia, June 17.. f 1,950
North Carolina, June 17
Augusta and Hamburg, June 1 10,921
Macon, May 1
Florida, June 18
Mont Lit MARKET, JUNE 20.—Arrived this week, 7 bales,
and exported in the same period to

Liverpool
New York 2O ..
Together 1314 bales, reducing stock 1307 bales, and leaving
on hand and on ship board, not cleared, 12,038 bales, against
20,320 same time last year.
This, market since our last notice has been entirely passive ;
scarcely
,300 bales have been taken within the week, and
those in small parcels, at about the same rates as those of the
previous week.
NEW ORLEANS MARKET, JUNE 26.—Bustuess generally
continues very dull, and, owing to the very gloomy state of
the monetary matters, there is but little prospect of improve-
ment for the balance of the season. In cotton we have no
change to notice as to the demand ; the sales for the last two
days are about 1,500 bales; 500 bales of which were sold on
Monday, in small parcels, at the current prices of last week.
On yesterday; a lot of 1,000 bales N. Alabama and Tennes-
sees were sold at 111 to 121 cents—said by some to be a
slight reduction on former rates. The receipts for several
days past have been unusually small, and it is thought that
the total receipts at this place will not exceed 600,000 bales
by the Ist October next.