The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1853-03-08 00:00:00

THE LIVERPOOL STANDARD, TUESDAY, MARCH 8, 1853.

know exactly where. In some days, her ladyship
received a letter from Sir ROBERT, dated,—Egypt.
It is an ugly act to carp, hazardous surely when fault is
attempted to be found, however slightly, with nine years'
proceedings—in a good cause—of thousands and tens of
thousands of intelligent English, Irish, and Scotch men
and women thirsting for knowledge. Yet so it is. In
Exeter-hall, Strand, the other evening, there was the
Right Honourable the LORD MAYOR, better known as
Alderman CHALLIS, citizen and butcher. a good man,
and one who sits on the proper side of the House of Com-
mons, presiding at a public meeting, supported by the
Bishop of CHICHESTER and Lord JOHN MANNERS,
renowned for his love of the game of cricket, out-door
exercise, and a little more leisure for the workers. The
object of the meeting was the achievement of early closing
in the shops of the metropolis. Is there anything defec-
tive in this movement? It looks like it. Nine long
years, with meetings weekly, monthly, quarterly and
annually, sermons preached, speeches made in length by
the rood, treatises written by the ton weight, prizes
awarded, and, above all, countenance and support given
to the question by the " merchant princes" of the me-
tropolis,—for who can visit Ludgate-hill in the east, or
Regent-street in the West, and see the palace-shops
there, without vindicating the phrase ? Still, little or no
apparent progress is made in closing the shops in decent
time of night. Not a creature, save the exhausted male
and female "assistants," is to be found in nine out of ten
places of business after seven in the evening. Why, then,
keep open ? Is it because Mr. Serge, at the top of the
street, sells a yard or two after the hour mentioned, and
so provokes Messrs. Flannel and Co. to keep open on the
chance of selling also ? Let the heads of houses come to
an understanding among themselves, and the end will be
accomplished. It is my opinion, arising from a close
observation of the " movement," as it is called, that the
parties more immediately concerned may continue to
meet till another doomsday, without gaining what they
seem to desire. The meetings are doubtless interesting ;
the one I refer to as being last held, was highly so; but
I really thought that the worthy Prelate I have mentioned
was investing the question with by far too much of a
sacred importance, when in pious accents he said, " with
their joint labours, he trusted in God, they would prove
successful." Of course immense cheering followed
this, but I thought at the time that reference to
the Deity might, with good taste, have been spared ; and
the old motto " Shouther to shouther" substituted.
However, linen.drapers and their assistants think other-
wise ; but they may depend the settlement of the question
rests with themselves, and " pity ' tis " that the members
of such a numerous class do not keep this fact in view.

COMMERCIAL AN!) 71m1V-FP4 v 7\r-F7

MONDAY NIGHT.

WE have again to notice a continued steadiness
in the value of the public funds, with a slight ten-
dency to advance. Notwithstanding the receipts of
gold from Australia, the weekly returns of the Bank
of England, as published in Friday's Gazette, show
another decrease in the stock of bullion, to the ex-
tent of £123,812. It must be;remembered, however,
that this return applies to the previous week, and
that most of the recent arrivals have been reported
since that period, so that there must now be a con-
siderable surplus, with the prospect of further large
supplies, which are almost daily expected. We
may, therefore, consider the late reductions in the
stock to have been beneficial, rather than otherwise,
as they have, no doubt, been in some measure
caused by the demands for our increased trade.
Exchequer Bills maintain a premium, which, though
lower than before the reduction of interest, is still
sufficient for all practical purposes, while the Trea-
sury will receive the benefit of the change. It has
been suggested that the measure was induced by
the desire of the Chancellor of the Exchequer to
discourage a renewal of all the Bills, as there is
an ample balance in the Exchequer, but it is hardly
likely to have this effect, so long as they bear the
present premium, which varies from 13s to 18s per
cent.

The manufacturers at Manchester appear to have
taken the alarm at the slight reduction in the value
of the lower qualities of their products ; and, at a
general meeting on Friday, resolved to work short
time for a month, by limiting their looms to four
days a week. The ostensible reason for this
movement is a reduction in yarn, and low-
priced goods, and the present high price of
the raw material, but the real object is no doubt to
influence the Liverpool market, as the holders of
cotton do not appear inclined to give way to the
reports of an excess in the American crop, and the
larger receipts of this season when compared with
the preceding one. It is a subject which, just now,
is entitled to much attention ; and it would be well
to take all the circumstances into consideration be-
fore being guided by the movements of the Man-
chester men, who are directly interested in what, in
the Stock Exchange language, is called bearing the
market. It is no doubt true that the receipts on
the American side are larger for the time of year
than last season ; but it is generally supposed that
much of this apparent excess is owing to facilities
for internal communication and the favourable
prices, which induced the growers to hurry their
oupplica to market ae early as possible. It is also
true that the stock at this port shows a a conside-
rable increase on former years, with large receipts
still to be expected,—circumstances which, taken by
themselves, would go far to justify the apprehen-
sions which the Manchester manufacturers seem
desirous to excite, that this market must submit to
a further reduction in price. But, with all these
facts before us, it cannot be denied that the demand
for the manufactured article, both for home con-
sumption and exportation, is still very active, and
that, so long as the gold discoveries in Australia
and the emigration to that quarter continue, and the
consequent activity prevails in the various branches
of our domestic industry, there must still be an in-
creasing demand for the products of our cotton
looms. That Manchester should feel in some degree
the slight reaction which is the almost inevitable
result;of excessive production, is not at all to be
wondered at ; but when it is remembered that the
slightest falling off in the American crop produced
such an alarm of deficient supply that Mr. Bright
tried to induce the Government to send out a com-
mission to India, to discover a new source from
whence to obtain the raw material, we cannot believe
that even the exaggerated reports which have been
circulated will justify the present movement in Man-
chester. This view of the case is further confirmed
by the reports from other manufacturing districts,
where trade is active and the demand steady at late
rates; and the favourable prospect of the future is
still further confirmed by the advancing prices of
wool, which, occurring at this season of the year,
must have an improving effect upon the market for
cotton goods. It is satisfactory to observe, that our
own market for cotton maintained its steadiness, as
it is firmly believed that it can alone suffer from the
fears of holders, which the recent proceedings in
Manchester are evidently intended to influence.
In their monthly circular, Messrs. T. and H.
Littledale and Co. say :—The uncertainty through-
out the month as to whether the Bank of England
would again raise the rate of interest has exercised
some influence on our produce markets, but rather
in preventing speculation and a higher range of
prices—which, had no check been given from that
quarter, would doubtless have been the case—than
in interfering with the healthy trade demand which
still continues ; and from the sound position of all
the principal articles of import (Cotton excepted),
with reference to supply and consumption, the
present range of prices may be considered safe;
and in some instances capable of improvement.
The return from the Bank of England, for the
week ending the 26th February, gives the following
results when compared with the previous week :
Public deposits .. £ 7,062,129; Increase £324,070
Other deposits 12,397,543 ; Increase 315,602
Rest 3,247,336; Decrease 65,773

On the other side of the account—
Government securities £13,488,853 ; Decrease £130,540
Other securities .. 14,926,214 ; Increase 748,512
Notes unemployed .. 9,662,270 ; Decrease 5,325
The amount of notes in circulation is £21,990,050,
being a decrease of £90,640 ; and the stock of
bullion in both departments is £18,190,805, show-
ing a decrease of £123,812 when compared with
the previous return.

ISSUE DEPARTMENT.

Notes issued .. £31,652,320

Govrnt. Debt.. £11,015,100
Other securities 2,984,900
Gold coin& bu1n.17,633,166
Silver bullion 19,154

£31,652,320

£31,632,320

BANKING D
Prop.'s capital £14,553,000
Rest 3,247,336
Public deposits. 7,062,129
Other deposits . 12,397,543
7-day, &c. bills. 1,355,814

EPARTNIENT.
Gov. securities.£l3,4BB,Bs3
Other securities 14,926,214
Notes 9,662,270
Gold & silt'. coin 538,485

£38,615,822 I £38,615,822
Our SHARE MARKET has been almost unpre-
cedentedly dull and inactive all week, and prices, in
consequence, . have. drooped generally. To-day,
after a verylliedit amount
rpoafbeuasriannescse of a,Nveclose
very heavy indeed, with every
con-
tinuance of the decline. Business has been done
at the following prices :—Chester and Birkenhead'
21k; Caledonians, 31k; Chester and Holyhead,
22 ; Lancashire and Yorkshire, 77; Ditto
Fifths, 4-Ad 9-16 d ; Liverpool and Southport, 17i;
London Stock, 1181- ; Sheffield Stock, 29i ,-%;
Midland Stock, 761 ; North British, 9 1-16 ;
Dover Stock, 2374- 1; York and North Midland,
291 d ; Preston and Wyre Halfs, No. 4,10 p;
Commercial Bank, 121 ; Royal Insurance, 1 3.161).
PRODUCE.—Owing to the limited supply of West
'lndia Sugar little business has been done, but the
demand is good, and prices have been well sup-
ported. The ale au ount%l to 150 hhd3. 8.P.,