The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1839-01-04 00:00:00

From the New York Journal of Commerce, Dec. 13.1

SOUTH WESTERN BANKS.—Letters from Mobile, dated
Dec. Ist, and received by express mail, say that the Alabama
banks would undoubtedly resume specie payments the first
Monday in January. They also say that the matter of re-
sumption by the Mississippi banks was somewhat doubtful,
in consequence of the large amount of Union Bank notes
out; but that the cashier of the Merchants' Bank had gone
up to attend the Bank Convention at Vicksburgh, with au-
thority to add to former loans another million if that would
secure the resumption. The knowledge of these circum-
stances caused an advance on Mississippi funds immediately.
RESUMPTION IN TENNESSEE.—Extract of a letter from a
gentleman of high respectability in Tennessee, to a gentle-
man in this city, dated Ist Dec.—" The banks of Tenneesee
will resume payment on the Ist of January, with more posi-
tive ability than any other in the United States."—Evening

Post.
Bicknell's (Philadelphia) Reporter says, "No change in
the money market, or none worth speaking of. The rates
have improved a trifle, but scarcely sufficient to deserve
notice. The banks are discounting little or nothing, while
it is said the Bank of the United States have curtailed their
circulation one or two millions. Little improvement may
be anticipated in the money market before spring—or at
least not before the close of the present session of congress."

(From she New York Morning Herald, Dee. 13.)
No public officers absconded yesterday up to the hour
when our paper wept to press—but rumours of defalcations
are thick as hail iu a stormy day. About sundown, one man
was seen to cut and run with a bag hanging out of his pocket.
He was pursued and overtaken, but finding it was only a bag
of "cold wittals," stolen from the Astor House, he was per-
mitted to depart iu peace. The police won't touch any man
who does not plunder at least one hundred thousand, and
then they do so only to get a share to stop pursuit. Great
times these for studying morals
We learn that it is in contemplation by the United States
Bank to publish a circular in a few days, signed by the presi
dent, disclaiming any direct agency with the movements in
the cotton-market, and explaining their connexion with Hum-
phreys and Biddle of Liverpool. This disclamation is pro-
bably produced by the excitement in the mercantile body,
who find the operations of Humphreys and Biddle and Bevan
and Humphreys very deeply affecting their private interests.
At ail events the southern planting interests will enjoy the
benefits arising from all competition in the cotton trade. It
will inevitably cause a rise of prices and a great activity,
independent of the state of the crops. Neither can there be
any doubt of the fact, that Mr. Biddle's policy, during the
country 10 000 000
icrolithitiPSd, tcletsivnotii fYtte inistleh ause saved
theitiorts;t '
cotton, caused by the revulsion of April, 1837. '-
But very little demand for southern funds exists at this
time in the market. The uncertainty which attends the re-
sumption of the banks in the south western section of the
union, is the principal cause of the fluctuation in exchange.
Notwithstanding the declared readiness of those institutions
to redeem their bills in specie, their ability to do so is much
doubted, at least before a large proportion of the crop shall
have found a market. The great influx of capital from
Europe, seeking investment in cotton, amounting probably
to 12,000,000 dollars, will, in all probability, place in the
hands of the planters the means of discharging their liabili-
ties to the banks, which will thus, by the Ist of May next, be
enabled to resume. Not until then can we expect any regu-
larity in the rates of domestic exchange. The movements
of the southern banks, and the English capitalists in the
cotton market are the reasons of the small demand fur south-
ern funds which exists at present in this city.
Money at Mobile on the 3d instant was exceedingly scarce.
The hanks of that city have ceased to discount preparatory
to resumption. The banks have come into the market for
the purchase of eastern and European funds, which are in
much request. The rate on New York was 11 toll premium,
60 days sterling exchange would command 12 to 14 prem.
Ton ACC° Tit A DE.—This trade, forming as it does, the most
important staple of two great states (Kentucky and Vir-
ginia) has not heretofore received that attention which its
importance merits. Our daily papers, either from ignorance
or want of inclination, have never attempted those scientific
articles upon the different branches of trade, which have for
two years back been a marked and peculiar feature in the
Herald. The correctness of our reports on tobacco have
caused them to be sought after by the planters and manu-
facturers of Virginia, as well as the trade generally.
The present position of the trade is curious—such a one as
very seldom presents itself. \Ve gave in some former arti-
cles a view of the prices and consumption for a series of
years back, also the state of the crop, and inferring there-
trim a great advance fur the next year. It is a curious fact,
that while leaf is now quite as high as has been the case in
some previous seasons of scarcity, the prices of manufactured
do not show a proportionate advance. This is a fact for which
it is difficult to account, but one which more nearly concerns
the interests of Virginia than any other. The most plausible
reason is, that the quantity now manufactured is much larger
than at former times, in proportion to the crop of leaf, and
a larger majority of the poorer qualities. We recently gave
various reasons fur the high prices of the manufactured arti-
cle which are anicipated next summer. Since then, we have
had reason partly to change our views. Thus the manufac-
turers have very generally declared' their intention of cur-
tailing their operations for the coming year. Such a deter.
mination, if persevered in, would cut off the supply, and
boldess must then obtain their awn terms. We are of opi-
nion, however, that, notwithstanding this public declaration
of the manufacturers, their real intentions are generally to
continue their works to the full extent, in order to take ad-
vantage of the anticipated state of the market. On the other
hand, the grocers and small dealers bought largely in the
early part of the season, and as business has been moderate,
they will, at the opening of spring, have a good proportion
of their stocks on hand. By that time the next year's crop
can be estimated; and if it should prove promising, no very
great further rise may be expected. This view, receives
strength, from the fact that the recent speculative demand
has suddenly ceased, and the market is now quite dull. The
arrivals at this port from Virginia, since the lst of October,
have been about 12,000 packages. This quantity has been
divided among different agents, one house having received
2000 packages, the others from 1400 down to 6 and 71X) each
—3OOO packages have been again exported to the extreme
southern ports for a market. The balance is mostly in the
hands of different holders, some of whom, having bought on
speculation, are now willing to sell at an advance ot three
cents. This they are not likely to obtain before the com-
mencement of the spring trade, when the demand for the
lower qualities for the Canadian market is likely to be good.
The increase of manufactured tobacco imported into Quebec,
at the last quarterly return of the corresponding period, last
year, was 58,22251b5.

THE CANADAS.
(From the New York Morning Herald, Dee. 13.)
The patriots have, it appears, recommenced operations at
a remote point. Several skirmishes between the patriots and
the British troops have proved favourable to the former. To
those who are acquainted with the locality, it will be seen,
that by obtaining possession of the points west of Tilbury,
the patriots can win a line from Lake St. Clair to Lake Erie,
throughout Kent county, and thui keep the regulars at bay
for a long time, or till they push further into the heart of
Canada.
The fresh movements of the patriots will have a material
effect on the sentence of the prisoners in Montreal and
Kingston.
National classification of the prisoners at Prescot:-131
Americans; 9 Germans, Poles, and French; S Lower Cana-
dians ; 1 Scotchtnan; 4 Upper Canadians; 3 Irishmen; 1
Englishman.

(From the Buffalo Daily Mercury, Dec. 8.)
The steam-boat Wisconsin, Capt. Power, arrived from
Cleveland this morning, brings us the following important
intelligence.
The patriots, amounting to 900, crossed over the Detroit
River, to Sandwich, burned that village to the ground, and
the British steam-boat Thames; were joined by two compa-
nies of the Royal Militia, and are now on the march through
the London district, where it is expected they will be joined
by several thousands of patriots.
in a skirmish with the Queen's troops, several of the latter
were killed : we cannot learn how many.
The gentleman who brings the information stood upon
the wharf at Detroit, and saw Sandwich and the steamer in
flames.
The blow is struck, and we shall see different work from
what we have yet bad in either province.

(From the Buffalo Advertiser, Dec. 8.)
We give this rumour just as it comes to us, at the same time
expressing some little doubt of its entire correctness. It may
be, and very probably is trite, that a hostile incursion has
heel) made from our territory, a few houses plundered and
burnt, and some shots been exchanged between the marauders
and the inhabitants. But that any successful stand has been
made, on the British territory, or any serious "rising" taken
place, we can see no reason for crediting. The outrageous
exaggerations of the warlike doings of last winter, in ►hat
.quarter, do not particularly incline us to be over credulous