The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1853-05-10 00:00:00

COMMERCIAL AND MONETARY NEFI S.

MONDAY NIGHT.
ALL doubt having been set at rest as to the success
of the Budget in its main features, the Public Secu-
rities have maintained their value during the week,
any advance being prevented by the reduction of
interest on the minor stocks. We may observe that
the reduction is only compulsory as far as concerns
the South Sea and other small stocks, amounting to
about Ten Millions, but the acceptance of the new
Stock is optional with the holders of Consols and
Three per Cents Reduced. The next account day
has been fixed for the Ist of June, an unusually
early date, rendered necessary by the arrangements
requisite at the Bank of England in connexion with
the conversions of Stock. Some large supplies of
gold have been received, but the weekly returns
show a continued decrease in the stock of gold-
and money is in more demand for commercial pur,
poses, owing, probably, to the recent impetus given
to speculation, and the continued activity in the
manufacturing districts. Some of the decrease in
bullion may, however, be attributed to the demands
from the Continent, as, owing to the large importa-
tions without exports to a corresponding amount,
the balance of trade is against this country, and is
likely to be more so. Another feature in monetary
affairs is the increased demand for railways, amount-
ing during the present month to £342,276, of which
£112,000 has been called by foreign companies.
The total amount of Railway calls during the first
five months of this year amount to £3,394,274,
which is a considerable excess on the correspond-
ing period of last year, when they amounted to
£2,165,313, being an increase of £1,228,961. The
bills drawn by the East India Company on India,
as advised by the last mail, amounted to £53,290
12s. 3d. on Bengal, £3,544 17s. 4d. on Madras,
and £l,OOO on Bombay.
The monthly returns of the Imports and Exports
published by the Board of Trade, show a continued
increase. The exports during the month ended
sth April amounted to £7,887,233, being- an in-
crease over the shipments in the corresponding
period of 1552 of £1,486,818, and an increase as
compared with the same period in 1851 of £922,035.
The following table will show, at a glance, the
value of the exports of our domestic produce and
manufactures during each month of the present
and two past years :

1851. 1532. 1853.
January. 44,817,870 44,8'21,781 46,231,841
February
March

The return of the vessels employed in the fo-
reign trade of the United Kingdom, for three
months ending sth April, shows the following :

VESSELS ENTERED INWARDS.

Tons. Tons. Tons.
United Kingdom and its dependencies-761,521 696,499 766,610

Other nations

445,273 409,831 330,403

VESSELS CLEARED OUTWARDS:

United Kingdom and its dependencies-907,823 965,145 876,026
Other nations

The Manchester Chamber of Commerce have
published a lengthened memorial to the Chancellor
of the Exchequer, praying for the adoption of a
system of decimal coinage, upon the alleged ground
that it would prove a great advantage to the com-
mercial community, and they give the following
schedule as the basis of their proposition :
Retaining the present denominations below the florin,
namely, the shilling, (50 cents,) and sixpence, (25 cents,)
together with the coinage of a piece of 15 cents, (above
suggested,) any of the following payments might be made
without the intervention of copper money, viz. :-
5 cents, equal to 2 pieces of 15 cents, less 1 of 23 cents.
10 1 .. 25 .. 1 15
15 1 .. 13 ..
20 1 .. 30 .. 2 13
23 • • 1 .. 23 ..
and so on for every multiple of five cents ; while by pieces
of five cents, equal to nearly lid, and of two cents, which
would for all practical purposes be identical with the pre-
sent halfpenny, any payment down to one cent might be
made in copper, thus :-
1 cent is equal to 1 piece of 5 cents, less 2 of 2 cents,
2 cents .. 1 .. 2 .. 1 2
3 • • 1 .. 3
4 2 .. 2
5 1 5
and so on for every combination above five cents.

The prudent Minister has very properly replied,
that he

" Is fully sensible of the importance of the subject
whereof it treats ; at the same time, he is of opinion that
any alteration in the value of a penny is a matter requiring
the fullest and most circumspect consideration, and the
most delicate handling. But her Majesty's Government
have willingly concurred in the propriety of appointing a
committee for the investigation of the subject, and they
will be disposed to pay every respect to the resultE of its
labours and inquiries, as soon as they shall have been
made known."
If the question were simply confined to merchants'
accounts, there could be no doubt of its propriety ;
but as it would involve millions of transactions by
people impervious to all explanations, it is the
alteration in the value of the penny which would
create the most mischief.
It is reported that a traffic arrangement between
the London and North Western and Great Northern
Railway Companies is on the eve of completion, so
that all competition between them will in future be
avoided.

The return from the Bank of England, for the
week ending the 30th of April, gives the following
results, when compared with the previous week :
Public deposits .. £3,934,322; Increase £221,333
Other deposits .. 12,922,620; Decrease 284,303
Rest .. t. 3,120,987; Increase 6,648

On the other side of the account—
Government securities £13,221,382 ; the same as before.
Other securities .. 13,506,745 ; Decrease 125,752
Notes unemployed .. 8,684,410 ; Increase 100,265
The amount of notes in circulation is £23,124,555,
being a decrease of £283,775 ; and the stock of
bullion in both departments is £18,355,094, show-
ing a decrease of £199,087, when compared with
the preceding return.

ISSUE DEPARTMENT.
Notes issued .. £31,808,965 Govrnt. Debt.. £11,015,100
Other securities 2,984,900
Gold coin& bu1n.17,789,811
1 Silver bullion .. 19,154

£31,808,965

£31,808,955

BANKING D
Prop.'s capital £14,553,000
Rest 3,120,987
Public deposits. 3,934,322
Other deposits . 12,922,620
7-day, &c. bills. 1,427,737

:PARTNIENT.

Gov. securities..Cl3,22l,3B2
Other securities 13,506,745
Notes ... ..... 8,684,410
Gold & silt'. coin 546,129

£35,958,666

£35,958,666

We have had a very idle week in our SHARE
MARKET, with scarcely a fluctuation in prices. The
increasing tightness in the money market, with the
gradual drain upon the bank, (there being now in
its coffers one million and a-half less than at this
time last year,) has given them, during the last few
days, a downward tendency ; but in the absence of
any pressure of sales, the decline is barely yet of
any moment. Our local stocks, insurance shares,
and others are still wanted for investment, and al-
most altogether of these is the real business con-
fined. We annex the days prices :—Caledonians,
33-, 41 4; Chester and Holyhead, 234 Eastern
Counties, 13 5-16 ; Lancashire and Yorkshire,
791 ; Lancaster and Preston, 521 p ; Liver-
pool, Crosby and Southport, 17i; Sheffield Stock,
301- 1; Midland Stock, 751 4 ; North British,
; East Lancashire Fifth Shares, 1-16 p ; Ditto
Second Issues, 5 5-16 ; Lancashire and Yorkshire
6 per cent., 151; Midland, Bristol and Birmingham
6 per cent., 150 ; Ditto 41 per cent., *p ; Royal
Insurance, lip.
COTTON.—The attempts of the Manchester Guar-
dian to depress the Liverpool market, by exagge-
rated and garbled reports from the manufacturing
districts, have proved unavailing, and recent reports
front America having confirmed our previously
expressed opinions on the subject, prices here have
been well maintained, The discrepancy in the
returns of stock, our contemporary is obliged to
admit; but he ingeniously deduces from it the infe-
rence that the stocks in the hands of spinners are
larger than was anticipated, a deduction which will
have very little weight out of Manchester. The
attempt to create an impression by working the
mills short time has proved also a failure, and has
been given up, the demand being quite equal to the
present powers of production. The trade here
during the week has been active, particularly for
consumption, at full prices ; and the general opinion
is, that there will be no decline. On Saturday, the
business was 6,000 bales, closing with a steady
market. To-DAY, the demand is fair, and prices
are slightly in favour of the sellers. Sales are esti-
mated at 7,000 bales, including 2,000 on specula-
tion and for export.
MESSRS. HERMANN COX & CO. in their Report say :
The sales this week have been 54,670 bales, of which
4,950 are on speculation, 4,120 for export, and the re-
maining '15,600 to the trade. Prices of the current quali-
ties are 1-16 d. dearer since this day week.
The advices,lper " Europa," bringing a further advance
in prices, and declining receipts have strengthened our
market, without causing any material advance. Spinners
continue to buy sparingly, and not beyond immediate
wants. Forgetting the increase in the consumption, a
larger export demand, and the little probability of another
large crop, they constantly ask,—ls it possible, that with
a stock of one and a half millions of bales here and in
America, and prices Id. higher than at the same time last
year, there is any necessity to lay in stocks and to fear an
advance? We say, decidedly there is, perhaps not at
cevery
idnagys
present, or as long as the quantity on sale and imports are
largeom e
s; butver y
leswilal change. The quantity on sale be-
; imports begin to fall off ; and,
whenever unfavourablo advices of the next crop come to
baud, whether real or fictitious, the competition between