The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-05-25 00:00:00

FINANCIAL AND COMMERCIAL SUMMARY.

It is now generally admitted that money for commer-
cial purposes is somewhat easier. The bank is beginning
to discount more liberally, and good bills at moderate
dates are readily passed, whilst loans can be secured even
upon six months paper. This improvement has imparted.
a firmer tone to the market for our leading staple; cotton
—which may be quoted about 4-d. per lb. higher than last
week. The sales of the week ended Friday were 29,490
bales. Of this quantity 7500 were for export, and 1850 on
speculation. The imports for the week were 40,813 bales.
We have little that is gratifying to notice with respect
to the market for manufactured goods. The short time
working is still continued ; and it is to be regretted that,
even with the existing high prices of food, attempts_ are
making still further to depress the condition of the opera-
tive classes, by reducing wages. The demand for the
country trade is very limited •, and foreign orders are only
given out with a sparing hand. It is believed, however,
that the ability of the manufacturers generally to sustain
the severe demands made upon them is most satisfactory;
and that few serious casualties will occur if the pressure
abates within any reasonable time, and a moderate amount
of forbearance is used. The seasonable weather, which
we are now enjoying, has already given confidence to
most parties that we have seen the worst ; and we should
not be surprised to see a speedy resumption of activity
throughout the manufacturing districts. The high price
of the raw material, however, is still a serious difficulty
to be surmounted.

The Corn Markets throughout the country have received
a check from the benignant character of the weather
which we are enjoying. In our market on Friday the
decline on wheat was fully 2d. per bushel, and ls. per
barrel on American Flour. We shall therefore, probably,
now see the question, as to the stocks in the country
tested. Farmers are proverbial for holding too long ; and
pressing sales in hot haste when markets are on the down-
ward turn. From all that we can gather, the stocks in
their hands are not large. The ports of the Baltic, how-
ever, are now opened ; and we may shortly expect an ad-
dition to our present supply from that quarter, as well as
from the Mediterranean. At all events we trust the
pinching point is past ; and with the prospect of a fair,
and not so very late a harvest as a few weeks ago was
anticipated, we fully expect to see a very material decline
shortly. Perhaps it may be found that there is more
stock in warehouse than is generally anticipated.
We have given, elsewhere, some statements as to the
short supply in the hands of growers, in some of the
agricultural districts in the north of England ; and we
learn that some of the southern counties are similarly
situated. Several purchases were made in our own mar-
ket last week, for the supply of Devonshire, &c., the
farmers there having so far sold out as to leave an insuffi-
cient supply for the consumption of their own popula-
tion.

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