The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1854-02-07 00:00:00

COMMERCIAL 4. MONETARY NEWS

MONDAY NIGHT.

THE apprehensions of a war with Russia,
strengthened by the tone of the QUEEN'S Speech,
on Tuesday, continued to have a depressing effect
on the value of public securities until the end of
the week, when, owing to the reports from the
Continent that the German powers would act in
unison against Russia, the Funds advanced more
than two per cent., and Shares experienced a
similar buoyant tendency. The rise was main-
tained to-day, but little if any further advance took
place. The fact of the Funds advancing at the
very time when the Russian Ambassador was
taking leave, is rather significant that the mone-
tary world do not view the last act of Russia as
by any means suggestive of dangerous conse-
quences. The returns from the Bank of England,
published on Friday, present no very striking
changes. The increase in the stock of Bullion was
£1267948, and "other Securities" had decreased
£309,227. Many of the railway companies have
announced their intention to declare increased
rates of dividend, and this has had the effect of
turning more attention to this species of invest-
ment, and thereby enhancing the value of Shares.
The arrivals of Specie during the week amount to
nearly £400,000, of which about a half was silver ;
but the exports are estimated at nearly the same
sum, and the demand for gold for the Continent
still continues.

The markets for Cotton manufactures partook
of the general dulness until the tone of the
QUEEN'S Speech, and the subsequent favourable re-
ports from Vienna, helped to restore confidence ;
but, though little change has taken place in prices,
it is hoped that trade generally will, very shortly.
be in a more active state. In the Lace and
Hosiery trades there appears to have been little or
no improvement.
We give the following extracts from the general
remarks in Messrs. T. and H. LITTLEDALE and
Co.'s monthly circular :

"We begin the year with greatly enhanced values
in nearly every article of colonial and other produce—in
some instances arising from actual scarcity, in others from
the anticipation of supplies being interfered with by war
and other circumstances, and in some articles from the
rapidly augmented consumption on light stocks ; but
probably in all, the influence of the increased supply of
gold is to be traced. How far this influence may yet extend
in the raising of prices is doubtful ; but the tendency
must still be in that direction until production is stimu-
lated to the same extent as consumption. The first effect
of a sudden flood of gold, such as we have witnessed in
the last three years, is a rapid increase in the consump-
tion of every article of raw produce used in manufacture,
and by the better employment of labour, of all articles
of food, whilst time is required to reproduce these raw
materials ; in the mean time, a great stimulus to do so is
given by the advance in value, and, by and by, the supply
is again found to be equal to the demand. High prices
are of course always more precarious than low ones, and
render the prospects for the coming year less promising ;
but the point of greatest interest at the present moment
is, whether we are to have a year of peace or war ; and
this, we trust, will now shortly be decided. The trans-
actions of the month have been on a tolerably large scale,
but the spirit evinced in the first week or two has
passed off, and prices of most articles remain without
material change."

The return from the Bank of England for the
week ending the 28th of Jan., gives the following
results, when compared with the previous week :
Public deposits ... £2,515,384; Decrease £131,399
Other deposits ... 13,486,234; Increase 408,365
Rest ... ... 3,339,394; Increase 5,614

On the other side of the account—
Government securities £13,232,716; Decrease £304,922
Other securities ... 13,988,622; Decrease 309,227
Notes unemployed ... 7,168,640; Increase 33,445
The amount of notes in circulation is £22,348,385,
being an increase of £76,890 ; and the stock of
bullion in both departments is £16,223,214, showing
an increase of £126,948, when compared with the
preceding return.