The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1838-08-31 00:00:00

NEW YORK MONEY MARKET.

MONDAY, AUGUST 6—Six P.M.—The effect of the news per
Great Western seems, on the whole, to have depressed the
markets. The resumption by the Southern banks depends
so Much on the maintenance of the price of cotton in Eng-
land, that the slightest indication of a fall in rates there tends
to check the movements of financial men. It is true that the
stock on hand is at this time very large in England, but the
quantity of capital seeking employment is so great that a
stimulus must be given thereby to the manufacturing districts,
which will support the price of the raw material. This, in
the event that the grain crops shall turn out as abundant as
it is now hoped will be the case; but should this expectation
fail, as in 1828, when the crops proved so deficient as to turn
foreign exchange partially against England, in consequence
of the quantity of bullion required on the continent, for the
purchase of grain for that country, no contrivance on the part
of holders can bolster up the staple in the face of the new
crop, the season for which is rapidly approaching.
We have, moreover, seen private letters from individuals
of goad standing, which give but a gloomy prospect for the
cotton market, from the rivalry which is said to exist between
the great holders—for instance, if there appears a little inquiry
in the market, and the United States Bank comes forward as
a seller at a certain price, some other holder supplies the de-
mand at a less rate, and so vice versa this grows out of their
anxiety to dispose of the mass on hand as early Os it can be
done safely. Domestic exchange remains nearly as last quo-
ted. A scarcity of Eastern funds exists in the city. At New
Orleans on the 28th, sight checks on New York were at 52
to 62, 60 days 3i to 41. At Augusta, Ga., on the 30th, sight
checks on New York were at 6 per cent. United States
Bank notes were very scarce. The number of Michigan
banks under' the General Banking Association is 42, coin-
prising a capital of 3,200,000:
We understand Col. J. S. C. Wilkins, and Judge E. C.
Wilkinson, commissioners for the sale of the Mississippi
State bonds, 15,500,000 dollars, arrived in the city yesterday.
These bonds are among the best of our state securities, and
will undoubtedly command a good sale in the market. The
average time of their redemption is 15 years. bearing an
interest of 5 per cent., upon the resumption of the state
banks, and a purifying of the currency. These securities
will be greatly in demand with the London capitalists.
The business at the Stock Exchange has been to-day rather
limited compared with some of the latter days of last week,
and prices, which opened heavy, at the close were very firm,
and in some instances at an advance on the sales of Satur-
day. Morris Canal rose LI per cent., Paterson and Stoning-
ton 21 per cent.; in most instances a falling off from the last
sales was visible. United States Bank declined I per cent.,
Am. L. and T. per cent., Kentucky .per cent., Vickshuig
1 per cent., N..?. R. It per cent., Utica Z per cent.
New ORLEANS, JULY 27.—Cotton.—The transactions of
the week amount to about 6,000 bales, which is very large
considering the quantity for sale, which is not now estima-
ted over 2,000 or 3,000 bales, as most of the receivers are
shipping on owners' account. The prices are said to be to
per cent. over last week; but we do not change our quota-
tions. There is very little Louisiana or Mississippi in mar-
ket; what is on sale consists principally of North Alabama
and Tennessee. The exports are 701,210 hales, against

570,674 to the same peri., le.d season, making an excess of
130,447 bales. The stoci. now on hand and on shipboard

not cleared, is about 48,000 bales.
FREIGHTS—We find no change in rates since last week.
There are now 28 ships and barques in port, eleven of which
are loading for Liverpool, one Glasgow, three II avre, one
Marseilles, one Cowes, flue Trieste, one New York, two
destination not known, and seven disengaged. Some are
asking higher rates, but shippers will not accede to their de-
mands, as the ships and barques now loading will take at
least 20,020 bales of cotton, and 2.000 hogsheads of tobacco,
besides what will be taken by smaller vessels.
COTTON.—JuIy 28.—Louisiana and Mississippi choice,
13c.; ditto good fair, 12V; fair, 11 to llc.; middling, 9
to 10e.; ordinary, 81 to 9c.; Tennessee and Alabama, 7
to 11c.

NEW ORLEANS. .JULY 29.

From Mexico.—The American—schooner Mexico, Capt.
Crosby, arrived last night from the coast of Mexico. She
was captured by the French fleet off `fustian, sent to Sacri-
ficing, and released. She brought hack her whole cargo.
We learn from Capt. Crosby that the French are narrowly
watching every nook and corner of the Mexican coast.

Iu Barrowdale, Buttermere, and other parts of Cumber-
land celebrated for the production of nuts, there is this year
an abundant promise of a plentiful crop, provided there be a
confitlUdnee of sunny weather to ripen them on the bushes.

CORRESPONDENCE.

THE REV. T. D. GREGG.

TO THE EDITOR OF THE LIVERPOOL ST.4IVD,IRD.

Sll2,—lt is with regret that I learn from this week's Courier,
that the originators of a subscription, as a testimony of re-
spect to the Rev. T. D. Gregg for his services in the late dis-
cussion with Father Maguire, have been the " Operative
Protestants of Liverpool." I, for one, was sanguine (and I
know that many others were) in my expectations, that some
wealthier persons, who have the bulwark of our Constitution,
which is the Protestant Church of England at heart, would
have, before this, shown their appreciation of the Rev. Mr
Gregg's triumphant issue of the recent discussion with that
subtle champion and crimson-stained character of the Church
of Rome.

it is known, that when the controversialists took the field,
it was agreed upon, that the doctrines and practices of the
rival churches were to he fully discussed and thoroughly sift-
ed; but when Father Maguire became aware, that the bias-

',heinous practice of the Mother of Hailots, the confessional,
was to be brought to light, and liens' Pheology relating
thereto brought under public notice, he, with the subtlety and
serenity of the serpent, quietly, in conjunction with his chair-
man, left the controversy without giving his opponent, the
Rev. Mr. Gregg, the satisfaction, or rather withoutthe public
satisfaction, of his being an instrument in the hands of God,
and with the sword of the Spirit, of triumphing over the scar-
let whore of Babylon. . _ .

I am told, and can rely upon the veracity of the statement,
that the Rev. Mr. Gregg is, at this day, the object of attack
of the poor deluded peasantry of the Church of Rome, and
that the weapons they make use of are those of the stones of
the street. Mr. Gregg has writte❑ a most pathetic address to
his foes concerning this; beginning with " Dear Enemies;"
and can the Protestants of Liverpool, who have the truth at
heart, hear of one who has triumphantly, and victoriously
placed the truth of Jesus over the damnable heresies spoken
of by the Apostle, without giving him some consolation ?
Really, Mr. Editor, this subject conveys to my mind the
case of Nlary at the grave of Lazarus, weeping over her la-
mented brother, and the Jews, and Jesus himself groaning in
the spirit, and all forming, in strains which man cannot suf-
ficiently express, that sympathetic condolence which ought
to subsist among the disciples of Christ. What a lesson does
this afford to truth-loving Protestants, when hearing of a
poor brother being an object of hatred of the enemies of
Christ, and falling a victim to the furiousness of Popish rage!
I trust, Sir, that the subject of this note will be meritori-
ously looked into, and will not be suffered to pass unnoticed
by the wealthier Protestants of Liverpool.
Believe me ever yours,
A PROTESTANT AT HEART.
29th August, 1838.