The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1848-03-14 00:00:00

I would
ions, the

BANK'S VAULTS OF GOLD OR SILVER, TO THE
"..'e of gold and silver.)*
the Bank never to hold less

Then I would co
1 ten T

lions of specie, to the whole amount, or any
t of which, the Bank would have the power of issuing
pa. which would be a legal' lender because an evidence

The Ba

se these legal tender notes to
~„ II

ssues, and a consequent
extent the foreign exchange get

an extension of

I price Of gold

at there .can be a class of

WE do not believe t

periods of popular

JAG tiObaJ6,l,,aaaa a
itability which invariably follow great political or
cial crises, than your small platform spouters and

the less influential

ioition of the

i in their obscurity, so long as the
a opinion keeps within its legitimate
I, so long as our busy world main-
Lry and equable revolutions ; no
slightest check throw these out of
-e are compelled to witness the des-

Lxrrent of publi

glance, than

contortions with which the process of infla-
tion commenced by the allied nuisances, and to
ate; --A sounds with which they
triv .:ritable thunder. What a
everish and eager grappling for small grievances do
we witness on the part of both him of the tongu
and him of the goosequill! What netting of r.

perate

isten to the penn

minnows and gudgeons, to be palmed off upon us
ales ! What fierce onslaughts against ima-
ssors, and desperate decapitation of
cabbages, make the very blood run
ins of wondering spectators. We
t such silly exhibitions. It is human.
however, we have too fre-
ss productive of mischief
r originators to check or
ic applied to, a few
ration which defies

,
leyona the power
xuiate. A child's

of men to quench,

be concentr

noprifty by an

nouneement from her

Letipahie ATi
Dse upon the

of their intention

the industry of Great
d to five per cent. A

tax ra

they no ion

rigorous inquiry into our general system of taxa-
tion, and into the national expenditure. An influ-
ential portion of the community approached the'l
question in this serious and business-like spirit.
But not so some of the small spouters and jour-
nalists referred to. They viewed it only as a peg
upon which to hang as large a quantity of trashy
declamation as it could be made to sustain. It was
discovered that a portion of the additional' expen-
diture to be provided for arose out of a small in-.
crease of the naval and military estimates,—that
Government were about to do a little towards 'pro-
viding for the better defence of the country; and
forthwith the opportunity was seized upon to af-
fright the public with a notion of impending war.,
In our own and other towns we had huge anti-war
placards every where staring us in the face, in which
the aristocracy and the legislature were accused of
a design to enslave and to rob the people. We had
anti-war public meetings, at which some of cnir
weak-headed, yet amiable, townsmen, dribbled;
forth as usual quakerlike sentimentalism from
the same platform, upon which chartism reassumed
its long dormant vitality, and railed in good set
phrase against every institution and order, which
stood in the way of the establishment of the "five
points." We had twaddling mercurial denunciations'
of war budgets and other imaginary monstrosities.,
And when the steam was just getting up, and
demagoguism was flying off into a crusade against
some windmill somewhere, but nobody knew where,
the news of the French revolution and the triumph
of mob power burst upon us like a thunder-clap.
The natural result has follo&ed. The idle and
discontented frequenters of the resorts of frothy
declamations, whom our spouting and leader-in-
diting Solons, had stirred into activity, gave up
forthwith all thought of war budgets and other in-
ventions, and set to work to find for themselves a
few grievances a la Francais. Visions of barri-
cades, street fighting, the pillage of gunsmiths'
shops, and the accompanying pocket-picking floated
before the eyes of lazy prentices, prigs, and idlers
of all sorts ; and the realization is to be found in
the gutted shops, the smashed lamps and windows
of Glasgow and other towns, accompanied unfor-
tunately by a loss of several lives and innumerable
broken heads, whose owners, after the slight shake
which a policeman's truncheon is apt to give to a
man's brain, have quite as clear an idea now of
what they were brawling about as ever they had.
In the meantime quiet and timid people are becom-
ing alarmed for the safety of their limbs and their
property; and 'magistrates, military, and police
throughout the country are harassed by double
duty and constant anxiety, whilst the vicious and
turbulent people to he found in every community
are on the look out for an opportunity to commit

outrage

We' do not know how far the gentlemen, recently
so fluent in their denunciations against war budgets,
aristocracy, class-legislation, and "other similar
topics, by which the vulgar ear is tickled, view
themselves as responsible for the new direction in
which their disciples have chosen to move. We
trust, however, that, as some slight measure of
atonement for their admitted indiscretion in moving
the first straw, and commencing...the warming up of
the popular feeling, which has at length caused it
to boil over, we shall see their names amongst the
list of special constables sworn in before his worship
the Mayor. It would be very hard, we admit, for
the eloquent Mr. - or the meek and pacific Mr.
- to have to break the head of Tom Nokes or
Paddy Doolan, who so lately cheered their platform
displays. But, alas ! inevitable necessity may com-
pel
them ; and at the same time it may convey a
very salutary lesson as to what is a proper selection
of company for men to make, and the danger of
rubbing shoulders to-day with persons whose heads
you may to-morrow be called upon to break in the 1
Queen's name.

The debate on Friday night in the Commons on the
Government financial project, presents one or two points
worthy of special notice. We cannot help asking, with
Sir W. Molesworth, how is it that the estimates of the

present Government for the army, navy, and ordnance for
the coming year, (exclusive of the item for the Caffre war,)
exceed the average yearly expenditure of the five years of
Sir Robt. Peel's administration by no less than £3,268,000;
or, how, is it that the actual expenditure for these services,
in the year ended January, 1848, exceeded that of the
year ended January, 1816, by £2,800,000.
We have spoken elsewhere of Mr. Cardwell's speech, ois
this oceasion,—a speech characterised by great business
talent, although the views of the hon. member do not
accord with ours. To one portion of the speech, how-
ever, we have great pleasure in directing the attention of
the hon. member's constituents. Mr. Cardwell says:—
"With regard to the public expenditure, he was one of those
who confidently hoped that a great deal might be done in faror
of the depressed energies of the country by way of a reduction
of that expenditure." . . . .

Perhaps we are not very far wrong in taking this as an
all but official pledge from that section of the Conservative
party which, at no distant period, will have to direct the
affairs of the country ; and the more especially so when
we find it confirmed by the following declaration of a
member of that party so eminent as Mr. W. E. Glad-
stone. We quote the passage :
"Now I, for one, shall not speak slightingly of the subject of
reductions. I feel convinced, upon general principles, that a
great country like this ought, periodically, whether after ten

Years or fifteen years, or what other reasonable term, to have a
searching and thorough revision of its public expenditure.
(Hear, hear.) It is now, I think, fifteen years, or rather more,
since we have had such a revision ; it is thirteen years since•
reduction ceased and the tide of increase of expenditure began •
to turn to `flood,' and I think it high time that we should
revise our expenditure; I say that qgite independent of the
faet of the formidable increase in the cost of our army, navy,
and ordnance—the increase of nearly £7,000,040 since 1835, of
£4,500,000 since 1844, of £2,830,000 since 1845, of .1,638,000
since 1846. These facts, I think, lay a very strong primafacie
case for a searching revision ; and, moreover, they lead to the
inference, that by a careful examination of details, without
diminishing your effective means—which I will not presume te•
suppose you dare prudently diminish —you might effect a con-
siderable economy."

The most telling speech of the evening was that of Mr.
Disraeli : a speech full of the caustic eloquence of that
consummate parliamentary gladiator, yet at the same
time containing stubborn facts and statistics bearing upon'
the question at issue which are well worthy to be pondered
over by the political economist and the statesman.
The debate was wound up by perhaps one of the only
members—Mr. W. E. Gladstone—to whom the house
could have been brought to listen and conducted back 'to
that patient attention which the subject demands, after
the excitement of Mr. Disiaeli's splendid effort. That
Mr. Gladstone's speech was a most able one we need not
say. As a vindication of his colleague, Sir Robert Peel's
policy, it was perhaps one of the most successful which
has yet been delivered.

THE PROVIDENT CLERKS' MUTUAL BENEFII
ASSOCIATION.

generally understood and appreciated, and experience is
giving rise to the formation of societies peculiarly adapted
to the professional pursuits of individuals. Amongst those
recently and more adiancing in importance is the Provi-
dent Clerks' Benefit Association and Benevolent Fund—
a society formed on the most comprehensive scale—and
securing for a comparatively trivial contribution, a provi-
sion for age, an annuity for a family, or an endowment
for children. Indeed, the advantages are well described
by the agent, Mr. Lea, of Derby-buildings

"Mutual Life Assurance is perfectly devoid of everythingap-
proaching to speculation :—it is based on almost unerring data,
and he who avails himself of it has made a certain anti positive
provision whenever death may take place. The tables of rates
of this department, which embrace every contingency to which
life is subject, are approved as safe by some of the first mathe-
maticians of the day ; but while they are safe, the assurers are
certain of reaping every advantage which the proper improve-
ment of their money can afford, as it is impossible that any
portion of it can ever be devoted to the payment of proprietary,
or any other purpose than the benefit of members. Such has
been the confidende placed in the association that nearly one
thousand members have been enrolled in this department, and

Try day others are coming fc
"To the Benefit I)epartmen

'ere is attached a 'Benevolent
lerks, which now amounts to
been chiefly contributed by
mils of making a provision for old

ie clerks whOie health or eircum
their lives."

age, infirmity, or death of tho.
stances prevent their assuring _
We cannot do less than urge the necessity of all de-
pendent clerks joining this society.

GENERAL TRADE REPORT.

LIVERPOOL EXCHANGE, YESTERDAY

To date anything of commercial interest from the scene
of confusion and uproar which took place yesterday on
the Exchange flags appears almost an absurdity. An
unruly mob, assembled under the pretext of demanding
redress for grievances at present complained of by the
Liverpool porters, took possession of the area, and diverted
the attention of the tliexcantile community from their
usual avocations to the more important object of securing
their own personal safety. The Exchange News-room
was closed, and all business suspended. We are con-
fidently assured that only a very small minority of the
,persons present consisted of the regular porters of the
town, who are generally satisfied with the explanation
and promises of assistance guaranteed to them by the
.magistrates ; and we mainly attribute this inopportune
interruption to the little business likely to be transacted
during tne 1;-,•:,:fnt crisis, to the wilfulness of idle and ill-
disposed individuals. With respec;.;;:::.:-I,:nd monetary
affairs, we have nothing to report but all-pervading dull.
ness. What with revolutions and bankruptcies abroad,
and mob rows at home, business in the share market has
been well nigh annihilated. What little has been done
during the last week has been at a trifling advance upon
the lowest quotations. Immediately after the news of
the establishment of the Republic of France arrived,

London Stock advanced to 137 from 126 ; Midland,
102 from 97, and the Half-shares, 5 dis. from 7 dis. ;. still
there is no great hope entertained of any further advance
until politics generally assume a more settled aspect. A
list of yesterday's prices will be found elsewhere. Consols
have again receded since our last, having reached the
highest point on the close of Monday's business. 82i
were obtained on Tuesday, since which they have ranged
between 814 and 801. Last night the closing quotations
were 804 to 4.
It is a difficult matter to draw up an exact and particu-
lar account of the state of the CorroN MARKET to-day ;
the demand has been good, and the attendance of buyers
numerous, but owing to the excited and unsettled ap-
pearance of things outside, the business has all been in
dribbling parcels for the immediate wants of consumers.
Prices are rather irregular, and in many cases they are
lower than they were on Saturday. Holders, without
unnecessarily pressing their stocks on the market, are
nevertheless willing sellers, and the late arrivals are el-tir-
ing off, day by day. The small profit which the im-
porter was receiving a week or two since has disappeared,
and the decline from the highest point is now id. to Id. per
lb. Thepresent prices of the three descriptions of American
"fair" cotton, as compared with the corresponding period
of last year, are : 1848. 1847.

New'Orleans
Mobile
Uplands 4/
There has not been anything doing in our Woor. MAR-
KET this week, but for all this prices are firm. We have
a public sale here on the 30th instant, when about 400
hales Australian, and 2000 bales Egyptian. Turkey, and
Entre Rios (of wnich some are very superior) will be of-
fered. Imports for the week :—Foreign.—Bombay, 413,
Monte Video, 337, previously, 16,953, total, 17,703.
Scotch.-356, previously, 2,616, total, 2,972.
We have nothing further to report in the other co-
lonial markets since Friday last, information up to
which date will be found in our seventh page.
—The London markets have been characterised during
the week by considerable heaviness, and a great desire on
the part of the various dealers to avoid transactions of every
description. Saltpetre has continued to command atten-
tion, but this is the only exception to the general de-
pression.

The Scotch PIG IRON market has been in a very de-
pressed state during the past week, and prices have still
further receded. The present quotations are : No. 1,
465. ; Mixed Nos., 445. ; No. 3, 425. 6d, to 435., in Glas-
gow, with a downward tendency ; bars in Wales, £7, to
£7 10i.

We have to notice an improvement in the TIMBER
TRADE of this town, the leading articles being in better
demand. The sales on Friday were—a cargo of St. John
pine, 18 inches calliper average, at 16d. per foot; with
birch at 14. per foot, and deals at £8 15s. per standard,
and during the last 14 days a cargo of St. John at 18d.
per foot; for yellow pine 16d. per foot ; for birch 15d. per
foot; for red pine and deals at £9 per standard. Three
cargoes of Quebec pine, imported in 1845, at Ind. per
foot, one at 121 d. per foot, and one imported in 1846 at
14d. per foot. A cargo of spruce spars at 184 d. per foot;
poles at Is. 3d. each; oar rafters and sweeps at 3s. ld.
each ; laths at 14s. per M, and pickets at 325. 6d. per M.
A cargo of Miramichi deals at £8 10s. per standard. A
cargo of Swedish fir at 18d. per foot, and deals at £l4.

The transactions in the LIVERPOOL. CORN TRADE since
Friday have been very trivial in amount, except for In-
dian Corn, of which article the purchases have been
chiefly for export to Ireland. Notwithstanding the small-
ness of our supplies, there is no activity in the trade, nor
any elevation in price to note since Friday ; in fact, al-
though we might have expected, on the resumption of
the duties, and consequent decrease in our imports, a
considerable improvement both in price and demand, the
preponderating influence of the genera/ stagnation and
uncertainty has not been without its effect. In the coun-
try markets, however, prices have generally taken a slight
advance, and the Irish markets are firm, with an improve-
ment in the leading towns. The Mark Lane Express
says " The immediate effect of a cessation of a totally
free importation will probably be to inspire holders with
snore confidence, and some slight advance in prices may
perhaps ensue. We are, however, still of opinion that in
the existing state of affairs no material rise can occur in
the value of breadstuffs, unless brought about by circum-
stances of which nothing can at present be known, such
as bad weather in the spring or summer, or political
events, resulting from the recent occurrences in France.
Looking at matters as they now stand, there is reason for
supposing that supplies will not prove fully equal to meet
the demand so long as the latter continues to be only for
real consumption. A speculative demand, founded on
future contingencies would ,of course alter affairs; but
after the disastrous results of the past year's experience,
we are inclined to think that capitalists will be cautious
how they embark in fresh investments in corn."
The MARKET for IRISH PROVISIONS presents little
variation since our last report. The finer kinds of Irish
Butter, of which 3,927 firkins, 771 crocks, arrived last
week (yesterday inclusive), continue in fair request, and
the stock in Liverpool is greatly reduced. Hams unsale-
able. There is no doubt but that the supply from Ire-
land of hams and shoulders, as well as pork and bacon,
will be considerably less this year than last.

Prices in Liverpool, yesterday :—Buvrsa Waterford, 88s.
to 945. ; Kilkenny, Carlow, and Clonmel, 888. to 928. ; Carrick,
86s. to 88s. ; Wexford, Carlow, 88s. tons. ; Belfast, 88s. to 928. ;
Ballymoney and Coleraine, 86s. to 89s. ; Banbridge, 84s. to 888.;
Newry and Dundalk, 808. to 825.: Dublin, Carlow,B4s. to 88s. ;
Sligo, 80s. to 86s. ' • Londonderry, 82s. to 86s.—BAcoN : long
middles, free from bone (new), 565. to 60s. ; short middies, 58s.
to 608.—LA RD : fine keg, 60s. to 665.

In the AMERICAN 1;ROVISION TRADE there has been a
good demand for Beef, and a fair extent of business done
in that article. Prime Mess Pork much wanted ; the few
parcels of good quality which have been received have
been eagerly taken at 70s. to 725. 6d. For old strips there
has been a good demand for Ireland, and all of good qua-
lity, offering at 50s. or under, has been taken. A parcel
of new bas been sold at 60. Bacon continues in fair re
quest, a ready sale being obtainable for the article as soon
as imported. The market is fully well cleared of old
Hams and Shoulders, and we have very few new. The
imports of Cheese already in the market have met with a
ready sale at improving rates. Although we have had
heavy importations of Lard, former prices have been
maintained.
Prices of American Provisions at Liverpool (duty paid) :
Cheese.—Fine, 486 to 526 per cwt.; middling, 42s to 465; ordi-
nary. 39s to 418.—Beef.—U.S.- Prime Mess, per tce. 304 lb.,
85s to 90s; ordinary, 76s to 83s, old 60s to 688; extra, India,
family, &c., 95s to 1038; ditto, per half-barrel, 30s to 356.
Mess, per barrel, 200 lb., 50s to 565; ordinary, 40s to 465, old
36s to 408; prime, 34s to 36s.—Pork.—U.S.—Prime Mess,
per barrel, 200 tb., 65s to 755, old 48s to 60s ; prime, 40s to 455,
Old 386 to 40s; mess, family mess, &c., 58s to 628, old 48s to
&U.—Be:cm—Long middles, free from bone,_4Bs to 5.4.8 per
cwt. ; ditto
free iron

35s to 42s