The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-06-29 00:00:00

COMMERCIAL AND FINANCIAL SUMMARY,

The market for money, like that for most other com-
modities, is just now influenced mainly by the state -of
the barometer. At present we are happy to say that it is
flattering, and holds out an excellent prospect of auspi-
cious weather for the growing crops. A fortnight's warm
sun would produce a wonderful effect in every part of the
d restore the spirits alike of the moneyed,

country

the commercial, and the manufacturing interests

all the prophesies of increased trade to arise from in-
creased imports of food, it seems still to be recognised as
a great fact, that our best and surest source of prosperity
is a good harvest at home and a diminished dependence
upon the foreign grower.

improvement was not maintained, and, after some unim-
portant fluctuations, Consols closed at 88k. Extreme
flatness characterised the market on Wednesday, and

prices receded to 881, at which they closed. On Thurs-
day the decline continued, and Consols fell to 88+ ; but a
rally took place, and they finally left off at 88k. On Fri-
day the market opened with rather a weak appearance at
881, but they were subsequently done again at 881, and
the closing quotation was, buyers, at 881. The Scrip of
the Loan has at the same time been done at + premium.
Three per Cents. Reduced have been sold at 881 to ;
the Three-and-a-Quarter per Cents., 90+ i; Exchequer
Bills remain at 6 9, the small 12 17; and India Bonds,

A. slight decline has taken place since our last in the
stock of bullion in the Bank coffers, the account pub-
lished in Friday's Gazelle giving the amount at
£9,632,575, being a decrease since our last account of
£60,350.

Our cotton market for the week has been lively, with a
large and healthy business doing ; and prices may be
quoted *d. per lb. higher, without being influenced by
speculative operations. This advance is, however, prin-
cipally in fair and middling American, which are most in
request. The sales for the week were 54,490 bales, of
which speculators took 5700 bales American, 4000 Surat,
and 100 Nrnambuco ; and exporters 3880 bales American,
960 Surat, and 690 Pernambuco. The spinners appear to
have made up their minds that the rise in price has not
been so unwarranted by circumstances as they maintained
a short while ago. The imports during the week have
been light, the total arrivals being 16,954 bales. The
estimated stock in Liverpool is 474,450 bales, against
765,500 bales last year. It is not, however, generally
thought that this affords a fair criterion, from which to
judge of our prospects of supnli, 4' the c' - is

undoubtedly held back, its transmission having been
prevented by the scarcity of freight, and the deficiency
of means of internal conveyance, occasioned by the large
shipments of breadstuffs to Europe from the United
States. Nevertheless, it is becoming more and more an
important desideratum that our sources of supply should
be timely increased ; and hence the conduct of the East
India Company towards the projectors of railways in their
territory is severely commented upon. It is contrasted
with the ardour with which the Sultan of Turkey is en-
couraging the cultivation in his dominions.
The market for manufactured goods is improving, and
prices of cotton goods are being regulated to those of the
raw material. Some of the mills are increasing their
hours of working ; and there is every probability that if
the harvest is productive we shall shortly have to notice a
return to full activity throughout the manufacturing dis-
tricts. The advices from the United States by the Henry
Clay are very encouraging ' • and a large business is pro-
mised with that country. From our East India markets,
however, the accounts by the last Overland Mail are most
unsatisfactory. From Bombay it is stated that "an in-
quiry stil, exists for grey jacconets, but it has not produced
any improvement in prices, and with termination of the
season, we may expect that it will cease. There is not the
slightest demand for any other goods, and dealers will.
take only of a few descriptions when tempted by the ex-
treme cheapness. Woollens continue neglected as before,
not a single sale that we are aware of having been effected."
In Calcutta there is little change to note.

Our Corn mai kets during the week have only been kept
from a serious decline by apprehensions of the effect of
broken weather upon the grain crops. The seasonable
change of the last few days must tend to dispel such ap-
prehensions, and to bring prices down to a reasnable limit.
The arrivals, too, continue to be heavy both from Europe
and the United States ; and from the latter quarter are
likely to be to an extent, after the getting in of harvest,
as to bring prices below the point at which they will pay
the British farmer. The New York Morning Herald,
received by the Henry Clay, says of the prospect of our
American supply :

" The receipts of produce, via the Erie canal and Hudson
river, have, mice the resumption of canal navigation, been
immense, exceeding those for any former year, without regard
to time. The opening of the lakes and canals this year was un-
usually late, notwithstanding which, the supplies, up to the Ist
instant, were nearly double to those of the same date last year.
The surplus of the western country, of last year's crops, has
hardly commenced coming forward yet. The annexed table,
showing the receipts at Buffalo and at Tide Water, gives us the
quantity received from.this state:—
Receipts of Produce to June 1, 1847.
Receipts at Buffalo Receipts at Tide
to June 1. Water toJune 1.
Flour 519,032
Pork 16,120
Beef.
Ashes 4,001
Wheat 1,192,654
Corn
A large portion of the wheat received at Buffalo has no doubt
been manufactured into flour in this state. More than 700,000
bushels of corn have beer► shipped to Tide Water from the
interior of this state. The small receipts of corn at Buffalo
show that the west has not commenced sending forward the
immense quantity, of that grain there must be on hand. The
shipments of produce from the valley of the Mississippi this
year have been nearly double those of last, as will be seen on
reference to the receipts at New Orleans. The receipts at Cin-
cinnati and St. Louis have been about double those of last year,
and there is every indication of the receipts continuing through-
out the season in the same ratio. The growing crops are in a
very promising condition. A greater breadth of land has been
cultivated this season than ever before known in the history of
the country. As an evidence of the movement in this vicinity
we will give an instance. On Long Island, within two miles of
the Brooklyn ferry, there is a lot of scarcely five acres, having
a fine growth of corn on it, which has heretofore been running
to commons. In New Jersey, it is estimated that 100,000 acres
of land have.been put in cultivation this season, over and above
the quantity cultivated last year. The same spirit that has in-
fluenced the efforts of farmers in this vicinity has spread all
through the country, and with favourable weather we shall have
enormous crops. Breadstuffs will be low enough in a few
weeks to satisfy all classes of consumers."

There appears, moreover, little doubt that our dollar-
loving brother Jonathan is quite disposed to stint him-
self, and be content to eat a coarser kind of food than
wheaten bread, so long as Europe offers him profitable
markets. It is stated on the authority of private letters,
received per Henry Clay that, to pay for our farther ex-
clusive importations the drain for specie is expected to
recommence in August : and that, besides breadstuffs, we
have got a large quantity of cotton to receive, which has
been held back for high prices.
A petition to Parliament, praying for an alteration in
the law restricting the Bank of England from issuing
paper against silver-bullion, is in course of signature in the
City. The remedy proposed against a crisis like the pre-
sent is to lodge a dispensing power in the hands of Go-
vernment to allow the Bank, in case of emergency, to
issue notes without reference to its stock of bullion.
The arrival of the Hibernia, mail steamer, yesterday,
brings our advices from New York down to the 15th inst.
The money market was easy. The following is from the
New York Morning Herald of the 15th :
It is estimated that the value,of agricultural produce alone
(excluding cotton and tobacco)' shipped to Great Britain and
Ireland from this port, since Ist Sept. last, amounts to the
enormous sum of thirty-two millions dollars.
The rise which occurred in the rate of exchange-bills on Eng-
land early in May was sustained to within the last few days,
now giving way: the tendency is again to a decline; and as
shipments of bread-stuffs will continue as long as such high
prices are paid in England, and orders for manufactured goods
will not increase in proportion, we shall again see rates at which
it will be profitable to bring coin to this country.
Six millions barrels of flour and corn meal have already been
sent in a little over three-fourths of the year to Great Britain
and Ireland ! All that can will be sent in the remaining quar-
ter: 1,250,000 barrels meal, or the equivalent thereof, will be
sent. There are'thirty-eight vessels on the berth loading
.for
Great Britain, and, as freights have rather a tendency to rise,
shipments will be hurried. The river and canals are taxed to
their utmost to bring to the seaboard the surplus of the interior.
Already we have received flour and wheat, reducing it to flour,
• near 270,000 barrels more than in any preceding year at this
time ; and of Indian corn an excess of one million bushels ; and
this will go on.
The United States ship Macedonia sailed this morning. Her
cargo, contributed by private benevolence, is composed as fol-
lows :—Clothing, 30 packages ; rice, 200 tierces ; peas, 6 bags ;
oats, 1,132 bags ; corn, 1,115 bags, 8.5 i barrels; beans, 2,103
bags, 122 barrels; meal, 1,047 bags, 5,179 barrels; rye, 8 bar-
rels ; potatoes, 7 barrels ; beef, 4 barrels; pork, 6 barrels ; flour,
14 barrels; tea, 10 chests.
Exchange on England to-day is somewhat flrmerrand 6is
obtained for bills on England.
"Tuesday, 15th June, One, p.m.
" CorroN.—Nothing of importance has been done in cotton
to-day. Shippers show no disposition to purchase at present,
and holders are not pressing their lots upon the market. The
arrival of the steamer of the 4th instant is now looked for. The
sales since the 29th ult. are estimated at 6,500 bales.
"FLOUR, &c.—Western Canal flour is in fair demand at 8
dollars 75 centE!; prime Genesse is held at 1 dollars 874 cents ;
a few lots of Michigan, &c., which have been exposed to the
weather have been sold at lower rates; sales Georgetown and
Baltimore Howard-street have been made to arrive at 9 dollars
25 cents. Meal is rather dull; 300 barrels sold at 5 dollars 62i
cents. 7,000 bushels wheat sold at 1 dollar 99 cents to 2d. for
Ohio, and 2 dollars 8 cents to 2 dollars 10 cents for Genessee.
5,000 bushels Ohio corn, 115 cents to 114 cents ; 6zooo ditto
round yellow Northern, 118 cents to 120 cents. Rye is dull at
130 cents. Oats, 60 cents to 63 cents.
"Provisions are steady, mess beef is held at 13 dollars 75
cents to 14 dollars; prime 9 dollars to 9 dollars 50 cents; pork
17 dollars 124 cents to 17 dollars 25 cents for mess, and 9* cents
to 9i cents, and kegs at 104 cents. Cheese 64 cents to 74 cents.
" The rates of freights are, to Liverpool, for cotton, 3-16 d.
per lb. ; flour and turpentine, 3s. 6d. to 4s. per barrel grain,
Ild. to 12d. per bushel. To London, 3s. 9d. to 4s. per barrel
for flour, and other articles in proportion. To Havre, nomi-
nally, for cotton, if cent per lb. ; flour, 75 cents per barrel;
ashes, 6 to 8 dollars per ton."
From Montreal the latest date was the 11th, when
Flour was quoted at 40s. and Wheat from Bs. 6d. to 9s. 3d.
The following tabular statement exhibits the immense
I extent of our imports from America since the Ist of Sep-

-
Export of Bread Stuffs from the United States to Great Bri-
tain and Ireland, front Sept. 1, 1846 to June 5, 1847.
Corn I
Flour.l Meal.lWheatl Corn. I Rye
rls

Oats.lßrley

-- ,
From 1 brls. 1 bush. 1 bush. 'bush bush., bush.
I....____
New York.. 852634 277852,10864361 5041729 401631308239 171682
Philad'lphia 204779;187690, 4407811 858871 5662 3047 ..
Baltimore.. 2622411 61600, 68838; 1595440 .. 62443 ..
Norfolk.... 447371 21289 .. 1 1362761 .. .. • .
N.Orr.Jone2 5092311 235121 274507 i 3452247 .. .. 520

Boston . 656201 23085! .. 558413 .. ..
Other ports.' 49648 475081 32457 517628 346 250 ..
Total
Some important facts as to the state of the crops

is union will be found in another so: