The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1848-10-17 00:00:00

TffE LIVERPOOL BTANDARD

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vs and in this people—so recently claiinir
cntly bad pendent nation—openly treating our connexion

knd we have

,o be an inde-

..... us.a. ,t/ LIJIA 111 Ma Ide
opera here has been effected
made per saltum, but I
ple the question (
Times mere

:mu with wnicn trie WILL' tnein as an insult and an injustice, and -repu-
The transition is not diating the idea of any benefit to themselves being
!s, Take for exam- derivable from such connexion ? It is the ordinary

y stag

Corn-law Repeal. First, the
ly indicated a willingness to hold the

position in which Ireland has been placed at least
one winter out of every three during the past fifty
)atants, coming in to the rescue, years. She approaches us once more, unblushing
Mr. Cobden, or any other of and unabashed by any sense of past ingratitude
, was in difficulties ; pelting the and irreclaimable habits of improvidence, as a men-
onists with vollies of sarcastic ridicule dicant, soliciting to be clothed

manufacturer cannot run much, if any, risk in keep-
ing his machinery in motion, and thus giving employ-
ment and subsistence to his numerous dependents. The
position of the iniporter is still less enviable; many
of the most pre —hant- large' lto the

lies of the cot

.asionally

anti hinting at the possibili
troversy by a low fixed duty

and fed out of the
eds of British industry. It is humiliating to
le terms in which the demand is made, by no
Less influential a-body than a meeting of the Roman
—.Jounced; Catholic bishops and archbishops, held in Dublin
,ir Robert Peel, as on the 11th instant. The meeting state in their
ninistration, the total resolutions that, "They contemplate with grief,
'ul- anxiety, and alarm, the impending famine, and the

tling the con-

_ „Went mere, .s have gone in,
ae which (at the rates current in America for som
months past) was considered "as safe as vold," and the'

Then came the ad-

I read

mission that the League was

a great fact

now find it arriving at an overstocked market, ernj-
barragsed by a disturbed and unsettled state of the Con-
tinent, and also at a time when an opinion pre-
vails that the coming crop of cotton in A
be an overwhelming one

the climax was reached when the 'limes a
and supported, the adoption by
of his ad

merica

1 of all protection of the native ag

Without committinz ourselves to any decided opinion,
we would throw out, fur consideration, one or two sug-

miseries which another year of destitution must
We strongly suspect that we are about to wit- necessarily entail on an already impoverished people,
'ions, of which o:fr many of whom will inevitably perish of want during
been per- • the approaching season, if some general and coin-

gestions

1. The extent of crop has yet to be settled by early
frost, or no frost at all, and this cannot be known here
till late in November, or early in December. If we should
fortunately (for xh,,,,,lance of cotton is the next best
thinz•to

-.6 ..ntiance of food) have an overwhelming crop,
freights which are now ruling at a farthing to three-eighths
per lb., may, and probably will, as in 1844, run up to
three farthings and a penny per lb. ; and we should pro-
"y have t- • '

bah. JD contend against an adverse exchange, so
that cotton in America must be almost even away to

this ear

Hear.) The
)ur local ne,

.ted further
subject wi

Not a

e our

.~. - - --

. .
IT has been the practice of "the leading Journal naturally attends such an effort, if unsuccessful, of THE DEPRESSION OF THE COITON TRADE. HOW TO RESTORE PUBLIC CONFIDENCE
of Europe," as it delights to be called, every two inflicting the punishment of the law upon the of- IN RAILWAYS.*
or three years to give the note of urenaration for fenders. In the meanwhile, what is the position of

IN all its branches the trade in cotton is undergoing a
very severe and trying ordeal ; for, low and depressed as

A pamphlet, in which the above question is car.

has just been placed before us, from the pen of

the raw material just now is, the margin between it and
the manufactured article was never before reduced to so
small a scale. Fortunately for the operative classes,
prices of the raw material are so low that the

Wills, sharebroker, of this town ; a gentleman who has
devoted a large amount of attention to the intrinsic
merits of our various railway schemes, and whose pub-
lished and private opinions upon the subject, generally,
have always been very highly valued. On this account,
and because it is most important at the present disastrous
crisis in railway property that right views should be arrived
at, we propose to bring the contents of this pamphlet in
substance before our readers.

Mr. Wills sets out with a strong condemnation of the
recklessness with which money was expended two years

ago by the leading companies, in wanton aggressions
against each other, by the projection of new lines and
branch lines of their own, or by giving their support to
new companies, through whom they imagined they might
inflict injury upon their rivals, and

To the vast incun.

acid to their own Ma-
nus which they brought thus

Another very material

cause is the rapid rate at which calls have been all g
made and pressed upon solvent shareholders, whip
others, in some instances a majority, were allowed to fall
largely in arrear. The result is that the really good men -
are compelled to sell at whatever price they can get, or in
many cases tor transfer their shares to. men of straw to pre-
vent being swamped along with the insolvent holders.
Asa remedy fOr this evil Mr. Wills says :

not pay a SE

ntif arum third, at.ll. a fourth-;; theirCfO;‘,ll-is-t-

Lu ,unt pet we payment or one call, oy every ►ndividual who
is able to pay, before a second is announced. And if, after the
most strenuous effOrts to collect the entire amount of one call,
a lari.te proportion still remains outstanding, the'worthless cha
racter of the register—thereby made manifest
convince the directors of the impol►cy

thoold at once

:y. of pro-

ceeding any further with the works, until they n
real facts of the case before a general meeting of till
shareholders."

rive laid. the

onsible