The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1854-01-03 00:00:00

Etberpoot taitbarb,

PROM OUR LONDON CORRESPONDENT.

MONDAY MORNING.

Wass and rumours of war is still the subject of conver-
sation everywhere ; negotiations for peace, however, we
ant told up to the last, are still carried on. We have a
tangible bit in the reply of the French and English am-
13assadors to RESCHID PASHA'S application for the fleets.
Ny own opinion on this document—and
.it is backed
by politicians of elder growth—is this, that as far as the
Ottoman is concerned, the reply is a very tepid affair.
'The ambassadors state " the presence of the Anglo-French
ileet in the Bosphorus is an incontestible proof of the
interest and sentiments which animate the EMPEROR OP
THE FRENCH and her Majesty the QUEEN or GREAT
BRITAIN. Their presence has a political signification.
it is a moral support as long as there remains a hope of
effecting a reconciliation between the 'adverse powers."
The closing paragraph is much more satisfactory—or
would have been so, had it been dated a month back. It
seta forth, that " should Russia attempt to land a force
en the Bosphorus, or at any other point of the Turkish
toasts, the combined fleets will then be required to act to
protect the territory, as well as the integrity of the Otto-
man empire."

But let me be more discursive. Although the past
week has not brought any startling intelligence from the
seat of war on the Danube, the coasts of the Black Sea,
and the Caucasian frontier, it cannot be doubted that
events are hurrying on with a rapidity that betokens the
approach of a universal crisis. By a want of foresight,
which almost gives the lie to his reputed sagacity, but
this by no means uncommon among the over-cunning,
the CzAn has made himself the great agent by whom the
existing settlement of Europe will he destroyed. Judg-
ing from the present lowering aspect of the political
horizon, it is impossible not to feel the liveliest apprehen-
sions that, at the approach of spring, not only we ourselves,
whose insular position has had some share, at least,
in keeping us out of trouble, but every country in Europe
will be involved in one general struggle. In that struggle
two antagonistic principles will contend for dominion—
that of absolute, despotic power, and that of con-
stitutional government. On the one side will be
found all the little tyrants of continental states, who
in general openly, but, perhaps in many instances, co-
vertly, will countenance and aid the pretensions of
Russia, in whatever manoeuvre it may please that arrogant
power to put them forward. On the other side will be
united in the firm bond of mutual interests, and by that
natural patriotism which the love of liberty inspires, all
the nations of the world whose civilization or mutual re-
lations are sufficiently ripened to draw them within
the vortex of contention. However Governments
may take it upon themselves to assist the aggressor, and
outrage the claims of right, of this we may be sure, that
the voice of public opinion will be unanimous in the sup-
port of Conservative liberal principles. This will be as
much the result of existing relations, as it flows imme-
diately from the natural impulses which operate in the
breasts of every people, to uphold the freedom of mankind
all over the world. To whatever corner of Europe we may
turn our eyes, we shall discover already planted and
ripened into fruit the seeds of that discord of which we
expect soon to see the explosion. Great Britain-and France
pledged, and already in the field against Russia, cannot
possibly avert the crash of arms ; and by protracting the
period of their active co-operation, may allow the precious
moment to pass by at which that co-operation would be
of the utmost importance in solving the difficulties of the
conjuncture, so far as they admit of a solution, by a re-
course to arms. For the sentiments of the people of these
islands in reference to the impending warfare, there are
abundant public evidences to vouch ; and every day that
passes by tells of their hatred to the Russian power, of
their chivalrous determination to supplant the CZAR
in the field of battle as well as in the cabinet, and
of the impatience with which they regard the inaction
of the Government. In France, the most deathly
hostility to Russia rancours in the breasts of her
population, and a campaign against the Cossacks
would only be too inviting to induce them to enter.
Austria, the puppet of Russia, to whom she owes
the continuance of her ignoble existence—Austria, as she
has done before, leaves England and France, and espouses
the Russian. In this decision we must not imagine that
the Austrian people have any participation. The most
deadly hatred which they entertain for the CZAR would
impel them to take up arms against him, but they are
wholly without the means of asserting their sympathy for
the liberal cause, either by the negotiations of their minis-
ters or by their arms. Let the Austrian Government be-
ware, however, how it wholly disregards the feelings of
the people, and acts in defiance of them. They
must expect that Austria will become the scene
of war ; and the moment the Austrian army is occu-
pied in sustaining the fortunes of Russia, that mo-
ment will the populations of Italy, Hungary, and
Poland, being trodden under the hoof of an iron and
grinding tyranny, rise in arms and defeat the success of
the Austrian alliance, if they do not drive their common
oppressors from power. Prussia cannot afford to delibe-
rate between the alternatives presented to her—Russia or
the Western Powers. So also, as regards the Northern
States. Sweden and Denmark are already Russian—that
is, their governments are Russian. Russian diplomacy,
always watchful, subtle, and ready, has done its work
among the rulers; but the people regard the CZAR with
the aversion that he cannot but inspire. Should Russia
call upon them to shut the Baltic against our trade, that
will be a case of war for us to take up. Should they reject
the importunities of the CZAR, that would be a case of war
for him to take up. In either event, therefore, the
Northern Powers must be involved, and even if no family
alliances were in existence to complicate motives, it is im-
possible to suppose that a struggle so vast in its magni-
tude should not draw every European state within the
sphere of its attraction. Preparation, then, is absolutely
necessary, and our care in the meanwhile must be to in-
sist upon prompt, discreet, and vigorous action.
Lord PA.LMERSTON, you will have seen. has not atended
a Privy Council since his return to office. His Lordship
was enjoying himself in the country,—rather a poor
reason, I think, for his absence, had ABERDEEN suc-
ceeded in " making things pleasant." A brief period will
suffice to enlighten us, as Parliament meets for the des-
patch of business in less than a month.

The Government clerks are busy with their quarterly
returns of receipts and expenditure ; they say, that not-
-withstanding the repeal of the soap duties and other draw-
backs, the return for the quarter just terminating will be
most satisfactory. It is a curious fact, however, that for
many a quarter past we have been told the same happy
tale. _ _ _

"The general holiday" passed over as these things
usually do, in cold weather especially. I have not ob-
served in the metropolis, for some years, on the occasion
of a holiday, so many tipsy people, tolerably well-behaved,
however, making due allowance for such a state. Then,
in the evening, in all the theatres west of Temple-bar,
there was not standing room ; and I am informed that
those in the east, and transpontine, had to turn hundreds
of people from their doors, though there was a double
performance at one of them. Boozey in the day time,
and the theatres in the evening, would seem to indicate
an improvement in the times ; that coals and provisions
of every kind were not nearly double the usual price, and
that the weather was temperate instead of inclement.
Yet the facts I have stated are so, and pauperism has in-

creased woefully since last Christmastide. I can state, on

the best authority, that in one parish, the richest, poorest,
and most populous of the metropolitan, there were close
upon one hundred paupers more in the workhouse on last
Christmas-thy than was the case on Christmas day '62 ;
and so on with all our other parishes, more or less.
Many persons shunning the "house" have been driven
into it by the present severity of the times. The feelings
of the benevolent have, however, prompted to more ex-
tended acts of charity than usual even at this most Chris-
tian period of the year.
Lord DUDLEY STUART, one of the members for Maryle-

bone, and who, for a long series of years, has deeply bite-
-rested himself in favour of Poland, has, it is stated, gone
'to Constantinople, on board the Liverpool screw steamer,
for the purpose of endeavouring to persuade the SULTAN
to accept the services of the Polish refugees, it being be-
lieved that a general desertion of Poles serving in Russian
regiments would follow, if they were certain of being re-
ceived in a corps of their own countrymen on entering the
Turkish territory. This is certainly making heart-work
of the business. His lordship was always first in pro-
moting the " Polish Balls" given in the Guildhall of the
city of London, and is looked on with great affection by
both the Polish and Hungarian peoples located here. He
is a warm-hearted man, tall, and of bland aspect, which
in some measure negatives the supposition of firmness of
purpose by which he is undoubtedly marked. He is the
non of the first Marquis of BUTE ; about fifty years of
age ; nearly twenty years ago he married the daughter of
LUCIEN BONAPARTE, Prince of Canino. Lord DIIDLET
STUART is, I believe, a cousin of that beneficent lady Miss
BITSDETT COUTTS, with whom he is on terms of great

friendshlP.
To a mind at all imbued with a love of the fine arts—
Painting especially,the volume just published by Parlia-
ment is certainly the most interesting, as it is unquestion-
ably the largest, ever issued by the House of Commons.
What it will cost the nation it is not for me here to de-
clare. Its parliamentary price is too high to allow of its
being purchased by the mass of art-lovers and writers on
art; hence, beyond a few favoured litterateurs and the
members of the legislature, the butterman and trunk-
*miker will have the bulk in the end. I refer to the re-
Vert of the Select Committee of the House of Commons
a 8 to the management of the National Gallery, and as to
what_ mode the collective monuments of antiquity and fine
arts Possessed by the nation may be most securely pre-
--served, judiciously augmented, advantageously exhibited,
&c. In a Paragraph in a London Correspondent's letter
it would be ridiculous to attempt an analysis of the huge
volume alluded to ; a little chit-chat thereanent may not
be amiss, as I may perhaps try to criticise the critics, I
mean the members of the parliamentary committee. They
with the utmost frankness admit that, in the course of
their enquiry, many imperfections and some irregularities
in the working of the system have been brought under
their notice. This admission forms a good basis for sound
reform, as we are told open confession of faults is a good
,atcp towards true improvement, The faults enuniers4ted

chiefly arise from the want of a clear definition of the
powers or responsibilities of the managing body of the in-
stitution. Another source of complaint is to be found in the
fact, that no authentic records of the res gest& were kept.
The most ignorant cannot but wonder at this apparent
negligence as regards the proceedings of an institution
appointed to watch over the interests of art in England to
a great extent. It appears that good recommendations
were unheeded, especially as to the purchase of the works
of the divine-minded RAPFAELLE. On the all-engrossing
subject of "cleaning," much is said about chemical and
mechanical processes .varnishes, incrustations, white pow-
ders, sharp steel instruments, friction, solvents, soap and
water, spirits of wine, Professor FARADAY, and so forth;
I beg pardon— of Potatoes also ! This latter humble escu-
lent, and excellent detergent—sorry am I to say it has been
so deteriorated of late,—in many instances where absolute
destruction to a picture has not supervened, and where
"cleaning" only-is required, the potato is found far more
useful and infinitely less dangerous, because not dangerous
at all, in the art and mystery of picture cleaning than all
the "spirits from the vasty deep" which were ever called
into requisition. It would have been well, perhaps, had
the gallery people stuck to potatoes. The old and respected
housekeeper of •the Society of Arts, now no more (I refer
to the housekeeper—for the society is flourishing) heard
frequent complaints of the dirty state of BARRY'S famous
pictures on the walls of the society's meeting rooom in the
Adelphi; BETTY," said the housekeeper to the servant,
let us try potatoes —just in a corner of " The Olympic
Games"—one of the huge pictures. "La, ma'am !" (our
housekeeper was an elderly but most intelligent lady)
BETTY and her mistress got two or three " Yorkshire
reds," made a pulp of them raw,—the victory was com-
plete. Many of the academicians were members of the
Society of Arts, and the potato, it appears, was partially
used for cleaning, nut for skinning. Much is said in the
report about the bad and dirty state of the backs of many
of the pictures—not a word that I have perceived of the
use of paste in keeping the canvass together when it is
cracked or torn. After a time this same paste is instinct
with vermin —smallworms in its moist condition, andsome-
thing of the weevil breed in its dry. However, the tome
is a most valuable one to art and artist, to the scholar and
amateur. There is some bad spelling in the report which
must surprise one ;—CORREGIO —for example. The late •
Lady BLESSINGTON'S mansion and grounds known as
Gore House, the scene of many a brilliant reunion—after-
wards SOYER'S Symposium, the scene, though short-
lived, of some festive meetings, is recommended for the
future National Gallery.
There is much entertainment, aye, and instruction,
gained at old book —rare book—odd book sales, and sales
of MSS. of odd people. Such was the sale just concluded
by the auctioneers in Wellington-street. The collection
was that of a Mr. PIGGOTT ; never mind who he was.
Among the lots was a curious one—BLAKE'S Marriage of
Heaven and Hell; not impious in its tendency. Who
was BLAKE ? The Admiral who twisted his whiskers
when beating an enemy, which he always achieved ? No.
PADDY BLAKE—he of the echo? No. But BLAKE the
painter of not many years ago. His widow, poor thing, old
and tattered, I met at Sir RICHARD WESTMACOTT'S some
years since. BLAKE—in his boyhood all poetry and paint-
ing—fancied the little girl, then a hosier's daughter. She
had fitted him with mittens; he married her—lived long
—never was an academician—and, what was of perhaps
more consequence to him, never had a quarrel with his
wife ; he died with her hands in his, reciting a bit of love-
doggrel to her. Such was BLAKE, the painter, a great but
misdirected genius. To the book sale. There was the MS. of
Lord BYRON'S Curse of Minerva, ragged and jagged,
crammed withcorrections in the crankyhand of his lordship.
This sold for £'22. 10s. There were many jest books, old and
curious—all brought high prices, as things of this kind
always do. JOHN BLACK, now a country-gentleman—he
was long nicknamed Dr. BLACK when editor of the Morn-
ing Chronicle, by COBBETT—was a tremendous collector
of works of this description. JOHN used to go up to a
book-stall, peer over its contents, buy a lot, give a bit of
paper—" pay the bearer ;" in this manner this odd, but
great though heavy scholar, has swallowed up his salary
—not a small one—from week to week. The most ele-
gant collectors are SAMUEL ROGERS, GROTE, the banker,
—Lord MAHON, Earl STANHOPE'S son, has a taste
that way ; so Ma csuLAY. The finest collection of wood
engravings is to be found in Lord SPENCER'S library;
the Duke of DEVONSHIRE has some of the finest SHAKE-
SPEARE'S and dramatic works generally ; the Earl of
ELLESMERE the best of German literature. He translated
" Faust"—not very well done—some years since ; the
CHANCELLOR OF THE EXCHEQUER has a most extensive
collection of all sorts—the preponderance of a theological
character. PALMERSTON'S seems more remarkable for
their goodly bindings than that which " passeth show."
RUSSELL'S is good; the late Sir ROBERT PEEL'S books,—
still as they were,—not anything like the vait.w of his
pictures. Dramatic literature, save by the Duke of
DEVONSHIRE, as I have intimated, Mr. Justice TALPOURD,
and two or three others, seems little cared for, and, I
am afraid, little known. Collecting old books and good
pictures is a safe investment, as the auctioneer's hammer
testifies. _ _ _

The dexterity and daring of London thieves are stale
themes : no conjuror's sleight-of-hand equals the former :
the impudence of the latter stands unparalleled. Let us
see. One of the finest acts, some say, of GEORGE TIER
FOURTII, was the laying out of St. James's Park, intro-
ducing variety to the shape of the dull and stagnant
parallelogram of water, which occupied the centre of a
park of little better than dank grass three parts of the
year. The ornamental water was designed and carried
out by the—par excellence—fine-art monarch. Many
rare and curious aquatic birds were placed in the water ; a
well-imagined island was constructed, where the birds
found refuge at night, and during their season of incuba-
tion. To make the scene still more picturesque, the
Ornithological Society, with WILLIAM YARRELL-of
whom more anon—at their head,—pretty well,—made ap-
plication to the Woods and Forests, at that time probably
the best-conducted branch of the government, and space
for two neat cottages was allotted: like magic they arose,
the society brought some rare specimens of water-fowl,
which attracted much attention and interest among the
public. The birds, however, wild—shy, and retiring in
their nature and habits, became familiar, and ate
from the hands of visitors on the margin of the lake.
During the present frosty season, about ten thousand
skaters and others have assembled daily on and about the
banks of the frozen waters, of the various parks, at the
west end of the metropolis ; that in St. James's averaging
between 2,000 and 3,000 at a time per day ; every entrance
to the park is guarded, no going in or out, without being
seen; the sentries have strict orders to observe every one
carrying a parcel—l believe large bundles are not allowed
at all. MoLEswoirrit's " Men in Lincoln green,"—the
park keepers, —are numerous, and stroll, or are supposed to
stroll, all over the enclosure. Notwithstanding this, the
dexterous and daring lads referred to contrived to " bag"
three large white swans, each nearly double the size of the
English bird of the same name, together with a rara avis,
or large black swan, the property of the Ornithologicals ?
How did the thieves catch the birds ? How carry, them
off? Nobody can guess ; but the birds have " fled. My
opinion is, that their pinions have not been looked after
sharp enough, and that they have literally taken wing—
the present weather prompting them, in their own way, a
reminiscence of their own cold norse homes ! The autho-
rities at the park, and they ought to know better, hold the
swans, black and white, were stolen by some of the expert
London thieves. What can they do with them—the
swans ? They are too tough to be eaten, and no fancier
can buy them with impunity ! And who is WILLIAM
YARRELL ? One of the most wonderful and distinguished
men of this or of any other country ! YARRELL is fellow
of mostly all our own scientific societies, especially those
referring to Natural History. Like ROBERT BROWNE, of
the British Museum, YARRELL might paper his library
with diplomas, bearing gracious testimony to his scientific
attainments. Who has not heard of " Yarrell's British
Fishes ?" Who has not eaten white bait at Blackwall or
Greenwich with greater gusto, having previously read
YARRELL'S exquisite treatise on that dainty yet tiny fish ?
This WILLIAM YARRELL connected with science so inti-
mately,—the companion of earth's great ones,—is a—
London Newsman ! All hail! thou great levellers—
Science,—Learning,—Genius,—never mind how lowly
foand.

Dr. LARDNER, that eccentric genius, is once more before
the world of London readers this week. Remarkable,
indeed, it is to study the diagnosis as it were of the human
mind. How pertinaciously, in most instances, it holds on
its own way—vagary—or otherwise to the last ! I re-
member having my attention directed to some essays,
written in youth, by those two great lawyers, Lord Chan-
cellor ELDON, and Lord Chief Justice TENTERDEN ; the
production of the Chancellor was marked by all the
doubtings," which distinguished his learned judgments
to the last, half a century afterwards. The work of young
ABBOTT—Lord TENTERDEN— was as strongly charac-
teHsed by that remarkable adherence to facts—details of
facts,—lucidness in summing up, which distinguished his
dying moments. So with LARDNER in another shape and
degree. Crotchetty at the outset of his English career,
so he remains in his Parisian domicile, after a lapse of a
quarter of a century. He contradicts a statement, patent
to all the world at the time, that the Atlantic could never
be navigated by steam ! Why should you do this, Doctor ?
Samna, as learned as yourself, have been equally astray—
happily for mankind. Did not the great BUCKLAND say
in a given number of years—now, I believe, expired—that
all the coal in the bowels of the earth would be burnt up ?
The high price of the fuel would, however, almost indicate
the near approach of an end, were we not assured that
it—the price—arose from other causes. Dr. LARDNER is
or was recently the Paris correspondent of a London
morning journal; active, though going on for seventy
years of age ! wayward man.
It is a work of supererogation to tell your readers that
pantomime at all the metropolitan theatres—save two—
is the order of the night. Certainly, the 'Allan enter-
tainment is the basis of our pantomime, but it forms,
though, the most noisy, funny also it may be, and amusing
part of the performance; such are the transformations in
things theatrical—real pantomime now forms but a
subordinate portion of the annual return of this species of
hilarity—riant. What has posture-making, however
startling or dangerous, to do with the leaps and hazardless
tumbles of Clown and Pantaloon ? But little. Beautiful
scenery likewise, and other attractions, are caviare to the
" rollicking" genius of pantomime, such as " Mother
Goose," the genuine model ! The fact is, managers are
compelled to lay out many pounds sterling on the produc-
tion of a single scene for the sake of the picturesque : one
scene in the Drury-lane pantomime cost the lessee £l2O.
I do not find fault with this extensive departure from real
pantomime, such as GRIMALDI, the elder, shone in; the
people like it—they crowd to see display sausage
swallowing, and trick cleverly devised and executed are
as nothing without it. Time was when a moving
picture—diorama or panorama called—of many thou-
sand feet of painted canvass embodying the trip
up the Rhine, with the well known and beautiful
mountain scenery; Windsor Castle with its "bosky acres,"
or sweet Killarney and her lakes, were presented in our
metropolitan pantomimes ; neither of these was germane
to pantomime. Yet they were justly applauded. Managers
have lately dropped these expensive shows, however. Cri-
tics and cavilers, they are pretty much the same, used to
find fault with MACREADY and CHARLES KEMBLE for
the noble manner in which they "mounted" WILLIAM
SHAKESPEARE'S immortal plays, twitted the lessee-actors,
in WILLIAM'S own language, with painting the lily,
gilding refined gold, and so forth. MACREADY deemed it
not unworthy of his management to call in the priceless
efforts of his friend CLAnxsos. STANPIELD, Royal Acade-
mician, to paint a sea view, in order to enhance the repre-
sentation of a play of the great dramatist. So with the
pantomimes, though the visitor has less of the real article—
pantnmime—there is enough left W vindicate all that to

• SALES.
IMPORTS.
-A.
DESCRIPTION. PRICES. Week Prev-' Week : This STOCK
ending onslY ending! Year.
Dec.3o. this yr. Dec.3o., Dec.3o
Sea Island 11034 240 21360 . ....
Stained — .... .... 5499 522531 ....
1
floweds . a 64 9330 491370 1 286170
Mobile 3 6/ 5920 286820 )
1 2491 937097 "
New Orleans. 34 83 19800 1001290 1 i ....
Pernams, &c. 64 8 740 67030 3080 641591 22340
[labia, &c.
Maranham
Dernerara,&c , . ,
ff
Egyptian.. .54 10 '2:12.0 131716' •'319 104350 82100
com.w.i.sic. •• ' •• • •,, ••• • 1 •• • • •• • •
Surat
.6
6 CI. , 28597' } 5356 324665 176370
illeVgls
'••" • ' •
45560 2386080 16746 2020246 593640

The last week having been the closing one of the
year, but little business has been transacted, the
time having been chiefly devoted to the closing of
accounts, and preparations for the new year, which
will commence to-morrow (Tuesday). We, there-
fore, subjoin extracts from such annual circulars as
we have been favoured with, many having not yet
been published.
Messrs. HOLLINSHEAD, TETLEY, and Co. make
the following remarks on Prices and Prospects of
the Cotton market :
" The fluctuation in prices this year has been about ld.
per lb. upon the inferior and better qualities of American,
and only id. per lb. upon middling quality. The lowest
point was at the commencement of the year, when mid-
dling New Orleans was at 51d. per lb., and fair 6d. per lb.,
and the highest at the end of July, middling being then
at 61d., and fair 7d. per lb. The stoppage of mills, the
stringency in the money market, and the high price of
food, would seem to have exercised but little influence
upon the Cotton market. For a large consumption of
Cotton the prospects appear to be less favourable than they
were twelve months ago, and this, owing to the unsatis-
factory state and position of Turkish affairs, and the high
price of Grain, and, indeed, of provisions generally. Be-
sides which, the labour question is not yet settled, and, if
it was so in the present disturbed districts, the same thing
might occur hereafter in other localities. On the other
hand, money is likely soon to be at an easy rate, as large
supplies of the precious metals are expected, and all busi-
ness engagements are reduced within moderate limits ;
and another favourable feature is, that the stocks of ma-
nufactures, both here and abroad, are by no means in
excess ; indeed, they are generally considered to be light
almost everywhere. The supply of the raw material may
not vary materially in the aggregate from what it has
been in the present year. From India, as the China mar-
ket will have to be supplied, we cannot expect much more
than an average supply, which will be greatly below this
year's import. From Brazil, Egypt, &c., the usual supply
may be expected, The crop in the United States is esti- '
mated at somewhat about 3,000,000 of bales, or 260,000
lales less than last year; but :as ocarcely any of this has

yet arrived, we may out of this reduced crop receive a
largei quantity than we have had in the present year."
Messrs.WILLIAM BOWER and Sox publish statis-
tical tables of the Cotton trade, from which
"It will be seen from the total import into this port
during the year amounts to 2,028,709 bales, against
2,205,904 last year, and 1,749,765 in 1851 • and into the
kingdom, 2,264,596 bales, against 2,357,751 last year, and
1,934,341 in 1851. That the export is 259,600 bales,
against 227,000 in 1852, and 214,000 in 1851; from the
kingdom, 349,600 bales, against 282,800 in 1852, and
268,500 in 1851. The stock in Liverpool, as declared to-
day, is 597,500 bales, against 677,810 in 1852, and 423,730
in 1851, The stock in the kingdom is 717,580, against
657,620 in 1852, and 494,600 in 1851. The total deliveries
for home consumption from this port are 1,749,419 bales,
being an average of 33,643 bales per week, against 35,094
bales per week last year, of which 357 per week are Sea
Islands, against 450 in 1852. From the kingdom,
1,854,936 bales, or 35,672 per week, against 36,766 in last
year, and 31,969 in 1851. The average price of middling
Orleans for the first quarter was bid, per lb.; for the
second, 6 1-16 d. ; the third, 6 3-16 d. ; and for the fourth,
6d per lb. The arrivals of new cotton are 30,000 bales,
against 240,000 last year.
Messrs. HAYWOOD and MeVicAR make the fol-
lowing remarks on the Cotton trade during the
past year :
" The receipts of new cotton into the American ports at
the close of 1852 were so large and so greatly in excess of
previous years, that many persons, reasoning by induction,
augured that the coming crop must be necessarily large.
And so it has proved ; for though it is less than was anti-
cipated, at one particular period of the year, yet the result,
made up from official returns, amounts to 3,263,800 bales.
It was this belief, that is to say, the great extent of growth
in the United States, which tended to check that slight
upward tendency characterising the market throughout
the month of January ; and though the Bank of England
then raised its rate of interest, the state of trade was too
good, and the consumption too, large, to allow of prices
being affected. In February a slight decline ensued. The
large receipts and the larger estimatesagain somewhat stag-
gered the faith of those who, previously, only saw in the early
arrivals into the ports nothing peculiar, beyond favourable
contingencies, such as the height of the rivers, increase
of boat and railway accommodation, and other accidental
causes, for explaining the extra supply, instead of attri-
buting it to the real cause, or that arising from a greatly
augmented crop. In March the apprehensions of many,
based simply upon the extent of receipts, became so
strong, that 3,500,000 bales was regarded as a ninimum
estimate ; and it was only the receipt of telegraphic in-
formation towards the close of that month, whereby it
was evident that a great falling off was then taking place,
that such exaggerated fears were dissipated. This im-
parted a somewhat improved tone to the market, but not
extending to an advance in prices, for the stock of cotton
on hand was so large—being nearly double that at the
same period last year—that it was with difficulty our
quotations were even maintained. Throughout May,
although there was found to be a weekly diminishing
excess of the arrivals into the American ports, and the
demand for consumption at home was upon the increase,
yet all was insufficient to sustain the market, excepting
for the better qualities, the scarcity of which was daily
developing itself more and more decidedly. June, on the
whole, was a satisfactory month to holders. The rate of
interest, it is true, was again raised by the Bank of Eng-
land; and the Russo-Turkish dispute, which had for some
time been menacing, assumed a still more serious cha-
racter; yet, in spite Of all this, the position of different
branches of trade was so favourable that prices of cotton
also rather improved than otherwise. In July there was
very little general change. August was less propitious.
Political matters remained unsettled. The masters and
their workmen became more estranged in feeling, and
apprehensions as to the harvest tended to arrest business,
and to limit the buying of all parties. Our quotations
were not, however, reduced - more than *2l per lb. The
worst fears as to our own harvest were confirmed,4 and the
Bank of England once more raised the rate of interest
considerably. War between Russia and Turkey became
imminent, and a general want of confidence began to
prevail. The only counterpoise, as far as cotton was con-
cerned, was the continued bad accounts from America as
to the appearance of the coming crop. Hardly any varia-
tion occurred throughout the month of October. In
November, again, there were only very partial changes.
The present month of December has been a repetition of
many others which have preceded it, except that the
advices as to crop have improved."
Messrs. Wm. GREAME and Co., wool-brokers, in
their annual circular, say

" In our last annual circular of the Ist January, 1853,
we were enabled, from the very active demand existing at
that time, and the lightness of stocks, to give a very satis-
factory report of the trade, and to indulge in the anticipa-
tion that as the year advanced we should have a further
improvement in prices. The transactions of the first six
months of the past year fully bore out these favourable
opinions. The demand continued brisk up to that time and
prices on many descriptions advanced ld. to 2d. per lb.; in
the month of June, however, the unfavourable aspect of
the Eastern question began to cause an uneasy feeling in
the market. A check was given to the upward tendency in
prices, and at the public sales (colonial wools) in July,
there was an average reduction of about ld. per lb., the
market, however, recovered this depression in August, and
on the assurance by Ministers, at the dissolution of Par-
liament, that the Turkish question was settled, a fresh im-
petus was given to the trade, and some considerable sales
were effected at full prices. This favourable state of
things was however of short duration. The Eastern ques-
tion, instead of being settled, assumed a more complicated
appearance. There was now a certainty of a considerable
deficiency in the harvest, and, consequently, a great and
sudden rise in corn. Money was becoming tighter every
day, and the Bank of England again advanced the rate of
discount to 5 per cent., and fears were entertained that a
further advance would necessary. It is not, therefore,
to be wondered at, considering so many adverse circum-
stances coming as it were at one time, that a complete
check was given to business. In fact we had at one time a
kind of panic in the market, and no sales were effected
except on a very small scale and for immediate use, the
manufacturers buying as it is termed " from hand to
mouth," and at the public sales which took place in Octo-
ber and November prices gave way generally 2d. to 4d.
per lb., and in some cases even a greater sacrifice was sub-
mitted to. We are glad, however, to say that during the
past month the market has improved a good deal. Stocks
in the hands of manufacturers and dealers have been
pretty well worked up. More confidence is now exhibited
in their operations, and a fair amount of business has been
done with an average improvement of about ld. per lb.
from the lowest point. The year closes with moderate
stocks, and, we think we may add, with a prospect of a
healthy and profitable trade for the ensuing year."
Messrs. Jos. ROBINSON and Co., wool and oil
brokers, make the following remarks on the posi-
tion and prospects of the market :
" At the present crisis, it is difficult, to many, to see any
future good; this is not our position. The prospects are
not so disheartening, when it is known that the manufac-
turers are executing numerous orders, and have recently
been put into possession of others ; the stocks held by
them are mostly limited, and their appearance again in
the market will be looked for. Weighing this matter of
importance, it must also be observed, that freights have
become very high, and, from the extraordinary demand
for shipping, likely to remain so, having risen to such an
extent that merchants cannot import, unless at a serious
loss; under these circumstances, the receipts will be
greatly curtailed. With these indications, a tendency to
raise the value would be evident, but as grain and pro-
, visions are dear, discounts high, and war begun iu earnest,
an upward inclination will be counterbalanced ; so that
we don't expect to see much change in the market for
some time, exceptinc. in Scotch and long foreign wools,
I which are scarce, and may advance."_

Messrs. ABIiAM GABTSIDE and CO. say :

" Compared with last December, the value of Australian,
Cape, and the lower classes of East India wool, now shows
an average decline of 10 per cent. ; the bad-conditioned
kinds suffering twice as much as the cleaner and better
parcels. Home-grown is in many cases 10 per cent.
higher ; the bulk of foreign shows no material change, ex-
cepting inferior or dirty parcels, which have fallen consi-
derably. With so many elements of uncertainty afloat,
our future prospects are less clear than we could desire ;
but we believe that trade is at present free of speculation
and on a sound basis. Production in the manufacturing
districts has been chiefly to order. Stocks of goods are
light, and we believe the general stock of Wool to be mo-
derate. It therefore is unlikely that the general course of
prices will be lower at present, and clean useful kinds may
be higher; but other circumstances, more particularly the
high price of food, will induce caution, and repress hopes
of a material improvement till some of these causes are
removed?'

TIMBER.—We extract the following from the
Circular of Messrs. HOLME, SLATER, and Co, of
this town and Birkenhead
"The imports into the docks of the Mersey, containing
Timber from British North America, during the month,
are thirty-eight vessels 29,142 tons against fifty-eight
vessels 40,189 tons, for the corresponding period last year.
Although there was a desire on the part of some of the
dealers to reduce prices during the latter portion of last
and the commencement of this month, which was par-
tially effected, we are happy in stating, that since then
there has been a mnch firmer tone exhibited by the im-
porters of Canadian timber, and a corresponding feeling
shewn by the trade in general. We have also to note
the great amount of tonnage lost on their homeward
voyage, and detained by the closing of the St. Lawrence,
which was destined for this port. We have also good
authority for stating, that the supply at all the outports
of Canadian woods is very much short of the expectations
formed, and although this time of year does not generally
show a great consumptive demand, still it is greater
than could have been expected when we take into
consideration that most of the consumers have been
led to expect lower rates. When they find that
this has not been brought about, the demand will be
revived, as the stock of timber in the manufacturing dis-
tricts is extremely light. We have no doubt of Square
Timber advancing, and think that the present price of
Spruce and Yellow Deals will be fully maintained, the
consumption of these articles being almost unlimited.
SHIPPING.—Messrs. TONGE, CURRY and Co.,
ship-brokers, in their annual circular, give some
interesting particulars, from which we extract the
following
" The very increased value of labour, not only in this
country but also in the colonies, as well as the greatly
advanced prices of Timber, Iron, Copper, Cordage, &c.,
must combine to diminish production and vastly increase
the first cost of all ships built during the continuance of
this state of things. Freights to all parts of the world
are advancing ; no foreign markets me reported as over-
stocked, and the losses bear a large proportion to the
number of ships built in the year. With these facts
before us, we cannot doubt that prices will, at least, be
maintained, if not considerably augmented.'
" It was reasonable to believe, in the early part of 1853,
that we should have so large a number of ships returning
from Australia as would, towards its close, supply us with
tonnage for the Cotton trade, and afterwards for Timber ;
and by thus increasing our supply cause prices to decline.
This expectation has failed us, for though a large fleet
has been freed from Melbourne and elsewhere, it has been
absorbed by other end new trades and heavy losses, and
so has failed to affeet us as we anticipated A remarkable
feature in the past year's hokum has been the number

of purchases that have been made on speculation by
parties who have had the good fortune to be more clear-
sighted than their neighbours, or have had the sense to
be guided by those whose experience constitute them
authorities in such matters. Those transactions have.
resulted, for the most part, in enormous profits.
" Last January we informed you of an advance in the
price of colonial ships over the previous year of 17 per cent.
The advance in the year just closed is quite 48 per cent.,
making an increase of 73 per cent. in the last two years ;
while the sales of the year amount to 635 ships, equal to
279,530 tons, against 285, or 147,471 tons in 1852. The pre-
sent stock stands at 89 against 48in 1853, 76 in 1852, and 82
in 1851, with comparatively few coming forward for sale.
The most of those now in course of construction are being
built to order, and are not likely to come upon the market.
" The total number of vessels belonging to Liverpool at
this date is 2,544 equal to 886,434 tons. '
_ _

Inoisr.—We cpiote the following from the annual
circular of Messrs. THOMAS BOYD and SON :
" The past year has been one of unparalleled activity in
the Iron trade. At the commencement of the year the
large speculations entered into in 1852 in Scotch Pig
Iron were continued : but the stock in Scotland having
been ascertained to be very large and increasing, and un-
expected stringency having taken place in the Money
Market, speculators became alarmed and forced sales ;
warrants f.o.b. in Glasgow, that were at 765. in the first
week of January, fell by the 21st to 58s. Subsequently
various temporary rallies occurred in the market, but, on the
whole, it declined, till in May the price touched 495.
About this time the very large shipments made in April
and May attracted attention, holders became firm, and
with little -speculation the price advanced gradually, till
in July it readied 565. The demand for iron for shipment
to all quarters continuing very great, some specula-
tion took place, and the price advanced to 655. in
August ; and thereafter, when it was rumoured that
the duty on Iron imported into France was to be reduced,
large purchases were made, which caused prices to run up
to 80s. in November. On the appearance of the French
decree diminishing the duties, it proved that its effect had
been anticipated : no further, advance took plaee ; on the
contrary, the market has been quiet since at a little reduc-
tion, and remains now at 795."