The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1850-08-20 00:00:00

occurrence :

" The receipts of gold by every packet has thus far been.
only sufficient to keep the public mind quiet. Those look-
ing anxiously for largerremittances have been disappointed,
and have been compelled to live on hope. Every steamer
is expected to bring the desired remittances, and every
steamer disappoints those interested. It is this expecta-
tion, this hope, that keeps the heads of many above water,
and carries them along, from day to day, surrounded with
all kinds of embarrassments. In the event of the receipts
of gold from California increasing, all may go well ; but
in the event of their becoming less, from month to month,
nothing will be surer than a financial revulsion in this
country, of the most serious diameter. It wi,l not be
confined to those directly connected with the California
trade, but will be universal in its effect, as the mercantile
classes have been extending themselves largely, the banks
discounting liberally, manufacturers in all parts of the
world, working extensively, speculators calculating extra-
vagantly ; in fact, all have been under the impression that
the mines of the Sacramento would, without the slightest
doubt, produce gold enough to satisfy any demand for any
purpose, and that the greatest difficulty would be expe-
rienced in-finding employment for all the capital California
would create. Very few realize the vast importance of
the great financial question at issue, a question that a few
months will definitely dispose of, for weal or for woe to
thousands."

All this, however, is by no means to be brought
about through the 60,000,000 dollars of capital
expended in, and still owing to the rest
.of the
world, by California. The crisis in question will be
purely a financial, or, more
properly, a currency
crisis. The gold of California is wanted to enable
the banks and treasury of the .United States to
maintain the present inflated issues of money, with
a heavy balance of trade against the country, caused
by the wild anticipations ignorantly indulged in as
to the effect and real value of the discovery of the
preCions metal to the country itself. A good
harvest, or an abundant cotton crop, would equally
answer the purpose, by enabling America to liqui-
date her debts contracted with other countries. Of
the former there is a prospect, but of the latter there
is very little ; and hence we fear the approach in
America of a very disastrous state of things. -In
proof of the justice of our fears we shall offer a few
facts given by the same writer from official sources.
The aggregate value of the imports into the port of.
New York during the month of July was 22,118,013
dollars. ''Deduct,"' the writer continues, "'they
value of exports for the same period, and we have
a balance against us on the foreign trade of this
pert in one month of 16,426,704 dollars. This
single fact should •be sufficient to show everyone
that we are rushing 'headlong into a state of things
resembling those of 1837 and 1841, with a very
strong probability of realising similar e3ults."
The following table" will show the amazing extent
to which the trade of America with this district has
been stimulated :

add`=: ••! - ..a: -.~:.

... - - •
VALUE OP FOREIGN DRY GOODS IMPORTED IN JULY,
1848, 1849, AND 185 '. .
1848. 1849. . 1850.
Manufactures of wool =&667.763 5'1.020,673 4'3,552,120
do. cotton 874,109 .817.520 1,607,775
do. silk 1,134.543 1,784,797 4,572,161
do. flax 257,f.35 231.650 741,495
Miscellan's dry goods 110,862 262,297 380.698

Total £1,C94,312 84,116,937 1.0,853,849

The same expansion has been experienced in the
consumption of the country as we find from the
quantity of dry goods taken from warehouse
during the month, as compared with the same
period of the two preceding years. How then is
America to liquidate the heavy balance thus created
against her ? She must pay it in gold in the first
instance, thus crippling; the monetary facilities, and
the enterprise and industry of the entire union ;
or she must satisfy her creditors by pouring into
their ports her grain, her cotton, her tobacco, and
other products, at whatever sacrifice they choose to
inflict. In fact, it is highly probable that America
is about to suffer precisely the same operation.
wes inflicted upon this country in the dis-
astrous rears 1846 and 1847.

Some stress has been- laid by that class of free
traders who, most inconsistently, endeavour to per-
suade the public that the cheap loaf which they
promised is not likely to be so very cheap, upon
the fact that imports this year have fallen off as
compared with those of last year. These gentle-
men take as one ground of their speculations the
fact that, thus far, in the present year the importa-
tions from the United States have been less than
during the corresponding period of last year, omit-
ting altogether to remind us of the fact that the
importations of the first few months of 1849 were
swelled by the grain, both of America and the con-
tinent of Europe, being held back to come in at the
shilling duty, which came into operation on the
Ist of February. It must he borne in mind, too,
that a considerable portion of the surplus of Ame-
rica has this year been diverted to the supply of
the large population now congregated in Cali-
fornia.

It is material for the infcrmation of the British
farmer that he should be enabled to form some de-
finite idea of the amount of the competition to
which he will he subjected from this quarter; and,
to supply this information, we turn to the commer-
cial intelligence given in the New York Herald for
Europe, received by the last packet. On this au-
thority we give the following as the aggregate
quantity of breadstliffs left at tidewater from the
opening of the navigation to the 31st January, in
the years 1848, 1849, and 1850.

FLOUR WHEAT CORN BARLEY
Barrels Bushels Bushels Bushels

1848 952,288 787,521

869,476 115,169

1849 1,118,914 683.478 3,25E214

96,880

1850 859,674 358,437 1,872.217 129,912
It will be seen that there is a falling off in the
aggregate quantities this year as compared with the
last, which may in part be accounted for by the cir-
cumstances above stated. The receipts, however,
are more than equal to those of 1848. We have
now to inquire what are likely to be the receipts of
the present year's crop; and upon this subject the
Heralds opinion will not be received by our agri-
cultural friends as very consolatory. After giving
us the quantities above. he remarks :
" As the season advances, the decrease in receipts of
breadstuffs becomes greater. There has been an increase
in the receipts of wool, bacon, and beef. When the new
crop of gram begins to come to market, we have no
doubt the receipts will soon reach an amount equal to
those of last year. Throuuhout the West the harvests
have been immense."
'We have not the slightest doubt that this will
be the case, and that we shall be inundated with
the produce of the " immense harvest" of America,
in whose western states the breadth of wheat sown
this year has greatly exceeded that of all previous
years. And we much fear that the condition of the
British farmer is doomed to be aggravated by a de-
ficient yie:d of the crops at home. We shall,
therefore, again hate low prices, induced by foreign
bnportations solely ; and we fully anticipate, as the
result, an amount of agricultural distress which will
make free trade statesmen. and especially those who
happen to he landlords, look rather blank about
the period of rent days.

ST. MARY'S INFANT SCHOOLS.--OR Sunday, two
admirable sermons were preached by the Rev. A. Knox,
in St. Marv's Church, Birkenhead, in aid of the three
infant schools in connexion with the church. The sum
of £3B 7s. was received. No fewer than three hundred
infents, nearly all under the age of six, are receiving
scriptural instruction in these excellent institutions.
ST. PAUL'S CHURCH, SEACOMDE.—Owing to the suc-
cessful exertions of the incumbent, the congregation of
this church has drily increased ; and for the last twelve
I months much inconvenience has been felt for want of
accommodation. We are happy to state that the con-
tract is now let for building a south ails and small west
gallery, by which about 250 additional kneelings will be
obtained. Mr. Hay is the architect, and Mr. Morris the
contractor.
• Tame Snip JonN GArtnow.—This well-known vessel,
the largest iron sailing ship afloat, which was built in the
early part of the year 1840, and has since been employed
on foreign voyages in tropical climates, supposed to be
prejudicial to iron ships, has, during the last week, been
carefully examined in the Graving-dock. Several holes
have been bored in her and the thickness of the plates
taken, but by the closest examination no perceptible loss
can be ascertained. It is clear that such vessels, with
care, may last 40 to 50 years, and, when well built, need
require no repairs for many'years.
Tne: ASHTON BELL-RINGERS AND THE BELLS AT ST.
NICHOLAS' CHURCH. —Yesterday morning a party of
crack bell-ringers from Ashton-under-Lyne were to have
astonished the ringers and the people of Liverpool by
executing an extraordinary peal upon the bells of our old
• church, twelve in number. To make the feat greater,
they insisted upon their ability to manage the larger bells
of the peal single-handed, whereas with our own ringers it
has always been the practice to set two ringers to each
such bell. On attempting the arduous task, however, our
heroes discovered to their dismay that their physical
strength was not so great as their own good opinion of
themselves. The large bells refused to answer to the
summons of a single pair of bands, and these belonging to
bodies not the most powerful in the world ; and the pro-
mised peal therefore remains to be rung.
SURFACE AND SPRING WATER.—It IS much to be
regretted that the magnificent scheme for obtaining water
from Whittle Burn, on which so large a mass of money,
upwards of £200,000, has been expended, should have at
so early a period disappointed its projectors, and verified
the predictions of it promulgated by disinterested parties.
The supply of water from Whittle Dean has for some
weeks past been insufficient to satisfy the requirements of
the population, and the impounding process has failed to
meet the deficiency. This is attributed to the fact of the
fall of rain having been during the last six months much
below the average of seasons ; but it was just against such
a contingency as this that the expensive reservoirs at Whit-
tle
Dean were constructed. No one, we believe, ever
seriously entertained the expectation that the Whittle
Burn would afford a continuous supply of water for the
daily consumption of the inhabitants of this populous
town, but, then, it was calculated that over the area
drained by the Burn, sufficient water would fall, and
admit of being impounded to meet the requirements of
the public when the Burn dried up. Such, however, is
the demand and the inadequacy of stock and supply to
meet that demand, that the old engine at Elswick, which
belonged to the subscription water company, has been
brought into operation, and for two days in the week is
employed in pumping water from the river Tyne, which,
after very imperfect filtration, is distributed through the
company's pipes for the supply of the town. This at once
explains why the water of late has been discoloured and
muddy, partaking of that brackish taste with which the
inhabitantsof Newcastle-upon-Tyne were once so familiar.
—Newcastle Journal.—[ls there not some instruction to
be derived from these facts by certain parties in this town ?
Will Rivingtou Pike turn out like Whittle Dean ?]
SERIOUS FIRE.--On Sunday night, about ten o'clock,
a fire broke out in the second story of a• flour mill in
Regent-street, in the occupation of Mr. Charles 'Ward,
but recently tenanted by Mr. John Bailey. The flames
extended with extraordinary rapidity, and illuminated the
heavens most brilliantly.
.There was soon copious sup-
ply of water, and seven or eight plugs were immediately
called into requisition. A strong wind was blowing from
the north-west. and serious fears were entertained for the
safety of the adjoining property. Some small shops front-
inc Great Howard-street, and a public•-house et the corner
of Porter-street, narrowly escaped entire destruction, and
most of them were more or less injured at the rear. In
the majority of cases the furniture and goods were re-
moved ; hut great loss was sustained in that way, as
thieving was practised to an extent which would be hardly
credible to a person unacquainted with the neighbourhood.
The fire was not what is termed " got under" until after
twelve o'clock, and even then a sudden gust of wind might
have rekindled Limes which it would have required the
Utmost activity too abate. Mr. Deeding, the head con-
stable, Mr. 'Superintendent Towersoo, Mr. Inspector
Johnson, Captain Ware the salvage suderintendent, Mr.
Stone, of the Liverriol Insurance-office, Mr. Barrett, cf
the West of England Insurance and Mr.' Anderson, of
the Norwich Union-office, were in attendance, and rem,
dered considerable aid by their 'advice and assistance.
-The mill and some of the, houses belong to Mr. WilliaM
Hargreaves, of Manchester, and Mrs. Little, of Bootle,
but Mr. Bailey has still some interest in the property.
Mr. Ward has only been in possession of the mill about
five months. One of the damaged houses, occupied by
Mr. Bacon, an oil and colourman, is, we believe, insured
in the Yorkshire office. The loss altogether must be
very considerable, but upon whom it will mainly fall we
are-at present unable to state. The stock was insured in
the X.erkehire Fire-office for. £1,300. One of the fire
police fell from the top of the building (a great height)
whilst the fire was raging. He was taken to the Northern
Hospital, quite insensible, but recovered during yesterday
so far as to be able to be removed to his own home. The
premises and stock are entirely consumed.