The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1849-03-06 00:00:00

currency, arising from the removal of any probabi

.aciencv in the

of its

With su

an increase of Cu

a certain con

commodit

iestion wil

ency we shall have

equence, a rise in the price of all
.s compared with flint vniinforl lan-

turesto predict

1 pound ;" and where the rise
- he must be a bold man who
It is impossible to determine

our supply of gold to produce-any definite deprec

ation of its value. It is sufficient that it shall be
in excess of the demand for it as money to produce
the downward movement in its price, and to bring

it within the category of a commodity, dependent

part of the subject the writer in the Times shows a
little want of information, combined, however, with

" As regards the public funds and the prices of various
.escriptions of property, it seems obvious that no alters-
ion in price should result in the case of annuities of any
escription, because these annuities beinz navable in cold

relation to ti

concerned, Co

should not be affected. If the
;ed one-half, the annuitant would
hase only what he can now obtain
were to sell his £lOO stock at 94,

lasing ix,. __ product to
-,sons the rate of discount

be only £47. For the same re _ ..
would remain unaffected. A man in business requiring
£lOO now, for which he pays 3 per cent., would then
require £2OO to exchange for the same amount of com-
modities; but although he would thus employ £2OO, and
pay £6 for its use, the alteration would be merely nomi-

'er, which is at present e

On the other

investments in real pr
houses, ships, canals,

bridges, mines, &

1 assume a nominal v

THE LITEIIPOOL

much too high as compared with the funds that the quiet
holder of the latter might after all be in the best position.
One thing is certain, namely, that whichever way the
public rush the movement is sure to go too far, and that
hence re-actions will occur such as to show those who do
not stir at all that they have not suffered much by their
supineness."

It has been contended by the bullionists, and
not long ago we had the argument from the Times
itself, that the effect of the supply of gold from
California upon the currency would be counteracted
by its increased absorption for domestic purposes,
and its more extensive use in the fine arts. On
this question, the writer, upon whose views we are
now commenting, entertains a changed opinion.
He says justly :
" It would require a considerable fall in the value of
gold to bring it into greatly increased use for domestic
purposes, while, on the other hand, the least commence-

,
ment of a decline might create a silly panic, which would
not only bring hoards of plate upon the market, but
would also cause persons to forbear from purchasing :
while, as regards the less productive mines, the immediate
effect of the Californian competition will be to stimulate
the use of improved arrangements, especially in the Ural
and Siberia, by which much larger quantities may be ob-
tained with the existing amount of labour. The avidity
with which other traditionary gold mines in Central Ame-
rica, Borneo, and elsewhere, will now be sought out, must
also be considered."

We pass over a portion of our contemporary')
remarks, which is rather of a twaddling character
and shall give the conclusion at which he arrives

" Looking," he says, "at the complicated interests
which are liable to be affected, it need hardly excite sur-
prise that propositions have already been put forth in
England for an alteration in the standard, in order to pre-
vent the threatened changes, it being urged that, without
loss of time, silver should now be adopted. It may be
feared that, apart from what must take place on the con-
tinent from the effect of a great supply.of gold, neither
silver nor any of the precious metals will henceforth
be regarded as very changeless measures of value. Be
this, however, as it may, there can be no shadow of a
plea for attempting to alter all existing bargains, merely
because the terms have turned out more favourable for
the debtor than was expected.
war the reverse was the case, but
fulfilled to their strict letter, and the same

were then

ustice must b

dities, and there can be few who have not at times spec
lated as to the possibility of a suddenly increased supp
such as had once already happened from the cl

scovery of

America' and which from unexpected causes
liable to happen again. The contingency has been
before us, and those who have overlooked it must not ask
society to relieve them of its consequences. There is no
reason to suppose if gold had beromp It.va nimmiant whip},

was quite within the range of probability, that creditors
would then have called for a law to enable their unfortunate
debtors to pay in silver or in any other different metal
In 1823, when such a result was
lutionists of South Az
of. Moreover, it

s heard

is quite certain that if the debtors at the
time when they made their contract had bound themselves
to pay not merely in gold but in whatever metal might

Cheaper, they would

in case gol

we been entitled to better terms

ar as pr

Lry that th

;ent outlay on this

come wa

[eaving

£13,000

F-year, as a

of profit set

throughout t

Mr. E. T. MOZLEY objected to more money being ex-
pended on the faith of promises made by coal owners
The CHAIRMAN considered tt

the promises

ere was no reason to

guarant
Mr. MozLax

the force of being a written document

as of opinion that it was folly to go on

spending money, and proposed that operations should be
confined to the line in its present position. Having in-
quired the length of the contemplated branch, and being
informed that it was 1 mile, he wished to know how it
happened that so large a sum as £13,000 was required for
its completion.

The CHAIRMAN said that it was necessary to cross the
canal and the road, and expressed his strongest confidence
in the undertaking, which was necessary to enable their
line to compete with others. He again referred to the

,gemen

ers who

Mr. MOZLEY pointed out the

Lone would

probability that existed

of this supposed- accession being- a real injury, inasmuch
as the neighbouring coal owners might decline on that ac-
count to support the line; and adduced figures from the
report with a view to deter the directors from engaging in
what he considered an undertaking of a doubtful nature.
Mr. CHARLES HOLLAND said Mr. Mozley mistook their
financial position, and forgot that nearly one-third of the

line was represented in their pockets ; he took the present
half-year's income, £1,709, and added for the other half of
the year £1,709, for the saving by the Sutton Plane alte-
rations, £2,004, and then supposed the falling off in this
year's traffic to be recovered, X9OO, and for the Blackbrook
_" 000 ; total £7,300. ; but

Line a profit, above

ich would make the gross-surp'lU

per annum, —_
£19,100, and show oetween four and five per cent. on the
present total outlay of £420,000. As to the branch line
ad, no sort of doubt'could exist, as it would
3fit of the coal proprietary to send their pro-
and he believed that• the demand for the arti-
He went on to point out the sure ad-
`he completion of the branch, and

be to ben,

duce by ra

cle was unliinited

pleasur(

.t in second

the adoption of ihe report.
Mr. MOZLEY did not agree in the favourable position in
which Mr. Holland had placed the affairs of the company.
The CHAIRMAN reminded Mr. Mozley that the railway

£lO,OOO. more than the amount of the original subl

Mr. MOZLEY was aware of that, but maintained his
opinion, and after some reiteration, expressed himself un-

warn them before they rashly committed themselves.
Mr. JACKSON, after being 16 years a proprietor, found
position than at the commencement of

himself in a worst

the undertaking. Something had been said about large
proprietors having an interest in carrying out the trust
profitably. It was all very well for gentlemen to talk
about being large proprietors, but he had paid more for
ten shares than perhaps they had paid for 200: he should
oppose a further expenditure of £13,000.
Mr.JACKSow, jun. complained that no public announce-
ment of the intended contract had been made ; he was Op-
posed to close contracts.

- Mr. JONES coincided in this opinion, and adduced the
practice pursued by government, which was invariably tc

offer their contracts ?or public competition.
The CHAIRMAN admitted the force of the observations,
but felt convinced that if the name of the contractor were
announced all opposition would cease.

Mr. JAcxsori;jun., objected to the accounts being
passed, unverified as they were.
Mr. HEALEY also thought that some better plan of

- -
managing the accounts ought to be devised.
Mr. MOZLEY contended that the excuses often made by
railway directors relative to the difficulty or impossibility
of rendering their accounts as plain as might be desired
was trivial in the extreme ; there could be no reason why
railway accounts should not be as explicit as every other
description of accounts. The meeting fully concurred with
this view, and this led to Mr. Jones and Mr. Simon Cros-
field being appointed, on the motion of Mr. Holland, to
the office of auditors, there never having been such
functionaries hitherto in, connection with the proprietary.

Mr. HEALEY proposed a vote of thanks to the chair-
man, which finished the proceedings, which were pro-
longed unusually, considering their merely routine cha-
racter.

3e launched from the building-yard of
Messrs. Cato, Miller, and Co., on Saturday next, a fine
new brig, the property of Messrs. Harrison, Ridley and
Harrison, of this port.
The Niagara steam-ship had not arrived when we went

sere

March 6, il_t

THE CLAIMS OF THE FOREIGNERS TO IN- _ -..:_----
I MEETING OF THE ST. HELEN'S CANAL ,AND QUERY—A MINISTERIAL JUGGLE
CREASED CONCESSIONS TOWARDS THEIR --
The fertility of the present Whir
RAILWAY PROPRIETORS.
1 We were told by Mr. Labouchere, when introducing " artful dodges" is an -
acknowledged facl
SHIPPING.
1 '' for
1 his bn. . the Repeal of the Navigation Laws, that Returns, Despatches, and other documents ot 7,,,0t
I-6,reie cou„stries had just right to demand from us a re- invariably come to their hand just when they are ',',00
laxatton of these Jaws ; and that, as the alternative of our and of the complexion most desirable to enable
.trsii
not grai.
Ling them, they would retaliate, and Prussia has bolster up any matter they have in hand. It fir e!
been espec►'.'tly pointed to a 3 likely to take and close their advisable therefore that the public should keep the e,
ports against ug. It has also been attempted to juggle us, open, and beware of such sleight-of-hand pi 1
through the medium of the distorted statistics of the specimen of these we much suspect is eontaine" eon
Board of Trade, intd the belief that such concessions following intimation which appears in the parlio,l
would benefit ourselves niftre than the foreigner ; and that - reports of Friday's proceedings in the House of L 7,
such has been the effect, ihus far, with respect to our ',Earl Grey, by command of her Majesty, laid on the;
commerce with those nations, with whom we have already very important Memorial, just received from the Asse
treaties of reciprocity. The latter juggle was very ably Canada, on the subject of the Navigation Laws."
handled by Mr. Mather at the meeting on Thursday. As On perusing this our attention was at once attract
that gentleman, however, had not the precise data before the expression "just received" • and we asked our:
him, we give the figures, as furnished to Lord John Rus- the question—" by what rapid' post ?" The last
sell, in a very able letter, addressed to him by Mr. Lind- steam-ship, from that side of the Atlantic, had tirr!
say, an eminent shipowner in London. The document full fortnight previously; and her Majesty has 11°'
in question is a comparative statement of the tonnage in- we are aware of, any craft, whose fleetness could re
wards and outwards of British vessels to five countries, worth while despatching her in anticipation of the st
.
with whom we have treaties of reciprocity, in the year due in Liverpool. We have heard of no
previous to and twelve years after they were negociated. since that of the Canada, which was likely
TONNAGE INWARDS. British. Foreign. as the bearer of an important document tc
1824. 1846. 1824. 1846. The conclusion therefore is forced
94,664 .... 63,465 .... 151,621 .... 270,801 morial of the Canadian A ..,. .„,, Gorvarer
lian ietellit

The half-yearly meeting of this company was held yes=
terday, in the Clarendon-rooms, South John-street, Gil-
bert Greenall, Esq., M.P., in the chair. The meeting
was rather numerously attended by proprietors. The
CHAIRMAN commenced by stating that the half-yearly
meeting had been called by the directors at the express
desire of the proprietors, who had considered it advisable
to have a second meeting in the year.
The SECRETARY was requested to read the report,
which was as follows :

" Since the last general meeting, the works on Sutton Plane
have been completed. The contract for working and maintain-
ing the road expired on the first of February last ; and the di-
rectors do not recommend to you a continuance of the system
of working the line by contract. The directors feel confident
that, by a rigid attention to judicious economy, the change will

mbinv ueueuciai w the company. The directors have not,
since the last meeting, undertaken any new works ; but they
have the satisfaction to state, that they are making arrange-
ments for the immediate execution of the Blackbrook Branch,
on conditions which will not involve any pressure on the com-
pany's finances during the present year. At the same time,
they have secured from the coal proprietors on the branch gua-
rantees of an increased traffic, to an extent that will ensure
very profitable results from its formation. The directors con-
.. . .

..e alteration of the Widnes Incline
nce commenced ; but their anxiety to avoid
cable, will induce them to restrict the pre-
work as much as possible. The directors
le to report an increase on the traffic during
lmpared with the corresponding period of
on the canal and railway being £14,381 in
of 1848, against £13,613 in 1847, leaving a net earn-
£l7o9, and showing a gratifying contrast with the prior
..r of the year. A large sum has been hitherto annually ex-
pended on the repairs and improvement of the canal. This
will henceforward be very much diminished; in addition to
which an immediate saving of £2OO a year will be made in the
expense of lock-keepers and bridgemen. With the guaranteed
increased traffic from the construction of the Blackbrook
Branch, and what may fairly be anticipated from the expected
revival of trade, it is probable that the consideration of the
propriety of proceeding at once to complete the Garston Line
and Docks may be forced on the directors at an early period."
The statement of accounts followed, from which it ap-
peared that the income of the canal, during the half year,
's £7,298 7s. Ild., and the expenses £2,707 Bs. 3d.,
- a surplus of £4,590 19s. Bd. The railway in-
s £7,083 Os. 4d., and the expenses £4,064 5s Bd,
surplus of £3,018 14?. Bd.,—total surplus,
4d., frorh *hich are to be deducted interest
49, and on balance owing to the Company,

%mount of dividend paid up orr-p—re:

The CHAIRMAN said he rose with much satisfaction to
propose that the Report and the Statement of Accounts
be received, in doing which he would make a few remarks
bea►ing on the statements as they had been read from the
Report, and first he observed that a nett profit of £1,709
ss. 2d. had been realised during the past half-year. The
1_ 1C v• •.• • • .

halt-year ending JunellB4B, shewed a deficiency of £458,
as compared with the corresponding period of 1847, but
against this there was in the half-year of the past year,
ending December, an excess over the same period of the
preceding year of £246, which reduced the deficiency of
the whole year to £212. which he arrni,....fl fn. Fn..

le past year. There
lad been a falling off in the conveyance of the article of
coal to the amount of 35,000 tons, which would have pro-
duced a nett income of £9OO, in the year. The general

intmenger iramc naa nowever exceeded
that of the preceding year. The Sutton line had been
completed, and the directors were warranted in expecting
in increase of nett income of £2,000 per annum from this
' the working of the line by the Company. With
ect to the Blackbrook branch, which would cost
the coal proprietors in the neighbourhood had
to send by it 70,000 tons of coal per annum

Denmark __
Increas

Norway

Sweden

Decrease

Decrease

United States
Increase

Thus under

Deciease

some previous mail, and is part of the
-)}, which Pas

82,284 convenient instruments,
113,731 hurried into a decision of an impuA
21,534 time being given to the Canadian peopl
80,649 public, to test their value.

We should like to heWan explanation of the c
I the detention, fora fortnight at all events, of a do
281,924

be borne in mind

that not one of these five countries is
in possession of a colonial trade to concede to us in return
for our own—the tonnage of British vessels has increased
in the aggregate only 120,028 tons ; whilst that of foreign
vessels has increased in the aggregate to 502,411 tons, or
more than quadrupled itself! This has taken place whilst Mahon
The trade of Birmingham during
brisk, although the demand for
security that, in exchange for a further concession on our
each country was giving only what they regarded as an
equivalent for the privilege granted; but where is the been
district is reported to be on the increase
part any one of them will give up anything in-return ? factored good
Four of the countries have absolutely nothing to give up prices whit,
worth having ; and the value of any concession by the Much
fifth is very problematical.
The weight to be attached to
any of the ebove countries to reta

iate upon us, by adc

Al the Ros

mmon Assizes, Off Th
d to death for ti

mins was conder

A I not
,a n

S 13ENEFIT.--.1

s continue to a
ireclude the poss
is made about ti

lo can sit
overt' ; th

any year

n two keN

r,
rder of -

I two famous Houses

MR. WA

which has increased their tonnage ... _
fold as compared with the increase of British tonn...,
works rather too well for them to be lightly given up.
They must be laughing in their sleeves at the folly of siars wr
Englishmen being led to believe that they could be mad Mrs.
enough to take a step so suicidal. The hou‘.. .
The case of Russia was also dwelt upon by Mr. Labou- THE BISHOP or M.X.9,
chere as that of a country which has a just right to com- —Twenty-e d
plain of us. We will leave Mr. Lindsay himself to deal magistrates, the vice
with that part of the honourable gentleman's speech : bankers, and a surg
"'With her,' he says, 'the clauses of our deed of agreementestablishment, put forth a d
are somewhat the same as those with other countries.' By the bishop, at the opening of
that' treaty,' says Mr. Labouchere in his speech, 4 Russia en- he should conduct the hempi
2 a 1 •. •". •.• • • • • . •-• •

ge, I sz --,- -----
nipson's

ided b

as a bumper

ight resi

the vicar

of Ply
o admi

.rd a surgeo

A promise
ES IN MANCHES

terms as her own ships, with some trifling exceptions.' By that did not act to
treaty, he neglected so say, Great Britain admits Russian ships up
into British ports on the same terms as her own ships, without Pooß-RA _
any exceptions; and by which (see treaty, clause 5,) 'her Bri- ing of the Mancnestt
tannic Majesty grants toßusfial!navigation and trade all the day, the estimates

benefit., and privi,
or which may herd
,

.ecifter- be enjoyed, 1

the commerce to be 'carried on in Russian vesie

s, four

st Atvouieltls!= £84.444

claimed from the overse

tish possessions in the East Indies, her Britannic Majesty con- of 3s. in the pound, which, together
Bents to grant to the subjects of his Majesty the Emperor of all of Is. 6d., will give a rate for 1849-5(
the Russias the same advantages and privileges as are or may of 6s. Bd., the rates of last year.
be enjoyed under any treaty or act of parliament by the subjects AT. ' • •

or ciiiiens of th

inventio:

to emigrants to Califor_
nost favoured nations.' Mr.- Laboughere
takes No notice of these, the MA IN clauses of the treaty of reci- --.--•
in Messrs. Mackintosh and Co , vi
procity between this country and Russia, but proceeds in his . •
speech as follows :—‘ So long as that treaty existed Russia could are emigratn
not retaliate.' What right has she to retaliate, if she could
Here are his reasons :--` An English ship might tal
our sugar to St. Petersburg,' and so might a I

and, when they

to the regi

Ship ; • and a Russian ship,' he continues, could not bring a wily a iew
similar cargo to London.' No, but a Russian ship could bring street, is av
a cargo of her own produce not only to London, but also to any BEGGARS
port in those islands, or in our dominions in the East Indies, or lon
any port in any of our extensive possessions or colonies. .Whe-
ther, therefore, does Russia or England gain most by the treaty
of reciprocity between them ? And upon what ground does Mr.
Labouchere state that 'the restrictions of the navigation laws
are applied to Russia in respect of this trade as stringently as
to any other country in the world?' and then exclaim, Was it
possible of belief that Russia would renew that treaty upon its
expiration, and continue a system from the advantages of which
she is so completely excluded ?'
"Continuing his exclamations
would not be much v

many important advant

true di

Etcarg? of I and, what is most important

nd equity

as well as

" Stireli, my lord, Mr. Labouchere could not have examined
the present treaty between this country and Russia, made in
1843, for ten years, or he would not, in a British House of Corn-
mons, have uttered such exclamations as those which I have
quoted."

Of a truth Mr. Labouchere must be very ignorant of
what he assumes to talk about, or he thinks the British
nnhlir rnstrcrialln.nalyr

We
?lace tlf

BENEFIT OF PUBLIC BATHS

a glad to hear that every -report tends only to
se excellent e

int of

vents in a more favourable

volent efforts of Mr. Councillor'Parker to have a similf
institution in every ward in the town, will ultimately
crowned with success.

a of (

The total receipts at the baths in Paul-street, for the
quarter ending the 22nd ultimo, were nearly £139, and
the following return for that period, from that establish-
ment, will no doubt be interesting:— '

At 3d. Males ..
Ar6d. Mal.

At 2d. Males ..
„,. Females

At 6d. Males

At ALges..
n Females

At ls. Males

ngs tor tray

COLD BATHS

471 .. 119 3
181 .. 015 1
48.. 012 0
8.. 0 2 0
22 .. 011 0

146 .. 1 4
719 .. 17 19

VAPOUR BATHS,

vivly
Total receipts for Baths • •
Children bathed gratis, Corporation School 3,891
Ragged School, Naylor-street
Church of England School, Bond-street
School Teachers
Inspectors of Nuisances 39

Gross Total

Number of 7.ubs used,

AMERICA

By the Wisconsin, Captain Mumford, which arrived on
Saturday, after a splendid passage, we have received a
week's later intelligence from New York.

The news does not, however, possess any great interest.
The congressional proceedings were dull. Indeed the
only feature was a message from the president in relation
to the much talked of Mexican protocol, which he declares
to be completely invalid, as it was drawn up after the
treaty of peace had been signed, sealed, and delivered,
and would, therefore, not interfere in the slightest degree
with that treaty. This communication had quieted the
apprehensions which had existed on the subject, but, at
the same time, Polk had received censures through the
press for not having delivered the protocol in the first in-
stance to the senate.
In the domestic items

and dep,

find that Henry Clay had sig

nified his intention, if elected a senator, to support the
administration of General Taylor.
ATROCITIES AT CALIFORNIA.—The intelligence re-
specting the gold continues as exciting as ever. The
following is from an official letter published in the go-
vernment paper, in Washington. The letter is dated

Swanton,

5 pon
oath for

Wu W 1i•+•o
nto Holy!les7,o