The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1848-02-29 00:00:00

THE LIVERPOOL STANDARD.

AT a PUBLIC MEETING of the INHABITANTS
of the BOROUGH of LIVERPOOL, convened by the
Mayor, pursuant to a Requisition, held in the Sessions House,
IJKSDAV,
THOMAS BERRY HORSFALL, Esq., Mayor, in the Chair.
A letter from Sir John Gladstone to the Mayor, on the subject
of the Meeting, was read.
It was moved by ALEX. HENRY WYLIE, Esq., seconded by
WM. EARLE, Esq.,
And Resolved unanimously,—That this Meeting views with
great regret and dismay the proposal of the Government to im-
pose additional taxes on the already overburdened people of
this country.
It was moved by JOHN SMITH, Esq., seconded by Htion
HORNBY, ESQ.,
And Resolved unanimously,—That this Meeting is of opinion,
that the present amount of revenue trough the details are
susceptible of modification) is a sufficient, with proper
economy, to meet all needful e ses, and that any addition
to the public burdens ought e resisted by every constitu-
tional means.
It was moved by Ric .RD SHELL, Esq., seconded by Mr.
Churchwarden FERO N,
And Resolved un imously,—That, besides being convinced
that no necessitrexists for increased taxation, this Meeting
entertains insuperable objections against any income tax which
does not include a graduated scale with respect to amounts,
and also a large distinction between the incomes derived from
trades or professions, and those arising from real property and
other fixed sources. _

It was moved by CHARLES HOLLAND, Esq., seconded by
JAMES THOMSON, Esq.,
And Resolved unanimously,—That in any revision of the
taxation of the country, any deficiency of the revenue should
be made up by the enactment of the legacy,and probate duties
upon the succession to real estates, or by such other taxes on
real property, both in Great Britain and Ireland, as may be
eauitable, on consideration of the taxes laid upon the indus-
trious classes.

It was moved by THOMAS TODD, Esq., seconded by HAROLD
LITTLEDALE, Esq.,
And Resolved unanimously,—That the following Petition be
signed by the Mayor, on behalf of this Meeting, and be pre-
sented to the House of Commons. and that the Members for
the Southern Division of this County and the Memuers for the
Borough be requested to support the prayer thereof:—
"TO THE HONOURABLE THE COMMONS OF THE
UNITED KINGDOM OF GREAT BRITAIN AND
IRELAND, IN PARLIAMENT ASSEMBLED.
The humble Petition o Lthelnhabitan# of Liverpool, in Public

_
Meeting assembled:
SHOWETII,—That your Petitioners have learnt with regret
and dismay the proposal of Her Majesty's Government to im-
pose additional Taxes on the already overburdened people of
this country.
That your Petitioners are of opinion that the present amount
of. Revenue is amply sufficient, with proper economy, to meet
all needful expenditure.
That your Petitioners, besides being convinced that no ne-
cessity exists for increased taxation of any kind, entertain in-
superable objections to any income Tax which is not based on
a graduated scale with respect to amounts, and also a decided
distinction between incomes derived from trade and profes-
sions, and those arising from real property and other fixed
sources.

That your Petitioners, submit to your Honourable House,
that in any revision of the taxation of the Country, any defi-
ciency of the revenue should be made up by the enactment of
the legacy and probate duties upon the succession to real
estates, and by such other taxes on real property, both in
1,1 cat Drltalt. ni.sal cl 1, an cu. la ...an,:
of the taxes laid upon the industrious classes.
Your Petitioners, therfore, humbly pray, that your Honour
able House will not sanction the imposition of fresh Taxes on
the people of this country, but exact a rigid economy in the
national expenditure, and that in the consideration of any
prolongation of the Income Tax, you will require that a gra-
duated scale be adopted, and that a marked distinction between
incomes derived from trades and professions, and those arising
from real property, and other fixed sources, should be made.
And further, that in any revision of the taxation of the coun-
try, any deficiency of the revenue may be made up by the
enactment of the legacy and probate duties upon the succession
to real estates i and by such other taxes on real property, both
in Great Britain and Ireland, as may be equitable in considera-
tion of the taxes laid upon the Industrious Classes.
And your Petitioners will ever pray, &c.
T. B. HORSFALL, MAYOR."
_ _ _

The Mayor having left the chair, it was moved by ROBERTSON
GLADSTONE, Esq., seconded by JAMES MULLENEUX, Esq.,
And Resolved unanimously,—That the cordial thanks of this
Meeting be offered to the Worshipful the Mayer, for the readi-
ness with which he responded to th,..t application of the requisi-
tionists to convene this Meeting, and for the able manner in
which he has performed the duties of chairman."

SUNDAY'S GALE.—Great fears having been entertained
for the safety of the packet ship Jamestown, Capt. Trask,
which sailed hence to New York on Saturday, the 26th
instant, a few hours previous to the late gale of wind, we
are glad to have it in our power to say that the ship was
all right on Sunday morning at eight o'clock, being then
between Point Lynas and the Skerries, with the wind
S. S. W., and the ship under close-reefed topsails.
GAME AND POULTRY.--Three wanting good and cheap
poultry should visit Mr. Johnson, of Queen-square.
FRENCH PLANTS.—ID order to ensure the excellence
and healthiness of the plants advertised in our paper to-
day, by Messrrs. Martin and Co., the importer has now
offered them on terms most equitable. viz., that he will
not ask payment until they are thoroughly proved by
flowering, &c. This is paving a way for his return next
NEW LECTURE BY MR. BUCRINGHAM.—Our readers
will by an advertisement in this day's paper,
that Mr. Buckingham proposes to deliver a public lecture
in the Concert-hall, Lord Nelson-street, on Thursday
next, on the following interesting and important subjects :
" Unjust Taxation," " A New Budget," " Fewer Hours
of Toil," and " Lighter Burdens for the Masses." At
the present moment these are topics that affect the wel-
fare of all classes, and deserve, therefore, the wrions
attention of all who can find leisure to attend.

GENERAL TRADE REPORT.

LIVERPOOL EXCHANGE, YESTERDAY.

The financial and commercial affairs of the country
become daily more involved in uncertainty, and transac-
tions in nearly every branch of trade more limited in ex-,
tent. The public mind had scarcely recovered from the:
shock inflicted by the British Premier, when it was:
astounded by the unprecedentedly rapid revulsion of
affairs which has taken place in France. It will be seen
from our quotations below, that the funds have suffered a.
fearful decline ; and until further information arrives
from the scene of action, and a more definite judgment
can be formed of the probable result of this most unto-
ward event for the peace of Europe, we may expect a
continued depression to prevail. We need scarcely add,
that this all-absorbing topic was the prevailing subject of
conversation on 'Change yesterday, and that various spe-
cculations were hazarded, which at present it would be
premature to enlarge upon. The Stock Exchange pre-
sents a gloomy appearance. Three firms are reported as
being in difficulties.
The SHARE MARKET on Wednesday opened more
briskly, and good hopes were entertained that better days
and prices were at hand. The meetings of the large
companies—the Midland, the York and North Midland,
the York and Berwick, had given the public, generally,
satisfaction, and the unsettled state of French politics
alone prevented a considerable rise; an advance did take
place, and some not inconsiderable purchases on specula-
tion were made on Wednesday. Thursday, or the evening
of the latter day, the news reached here of the stoppage
of the reform dinner; this made men hesitate, some more
timid than others, " got out" of their purchases with a
small loss. The news of the deposition of the French
king, the destruction of the Palace Royal, &c., reached
London at half-past five on Friday ; a great excitement was
apparent immediately in the neighbourhood of the Stock
Exchange—the leading brokers had gone for the day, but
those in town met with several jobbers, and all shares were
offered at very considerably lower prices that those of the
morning. The funds fell from 884 to 854. Paris and
Lyons from 4 dis. to 7 dis. French Northerns from 30s.
p.m. to 30 dis. Intelligence of a progressive movement
having been received from Paris, during Friday night,
the fall in prices continued on Saturday. London Stock,
which was on Friday 146, fell to 139. Midland from 115
to 108; Consols, from 884 to 834; and the smaller shares,
in which speculators had dealt largely, were nearly un-
saleable. In our market on the morning of Saturday,
very little business was done, and this at lower prices ;
but on the receipt of the telegraph from London at 2 pm.,
the panic commenced here. London Stock fell from the
morning quotation 143 to 145, to 140 ; the One-fourths
from 5 pm. to 4 pm., and all shares were offered at very
low prices. A special meeting of the Stock Ex-
, change was held to afford facilities to sellers of Stock,
but only four quatations were made. YESTER-
DAY, prices were still lower, and we regret to state
that two failures were spoken of, and hardly any
business was transacted. Sellers did not appear to press
stock at the ruinous prices marked, but seemed rather to
desire to hold for a few days, till more certain intelligence
from the continent. The following were the quotations
at the AFTERNOON MEETING OF YESTERDAY :—Dover
shares, 3 dis. ; London 4-shares, 31 prem. ; Leeds 3rds, 34
dis.; Cheshire Junctions,64dis. 131 to 133 was offered for
London Stock; Midland Stock was asked for at very low
prices. A somewhat better tone was given to the market
than at the morning meeting, from the prices by telegraph
up to noon, in London ; bad as they were, not being so
bad as many fearea. Consols, 81, 4, 81, 82, 3, 2 ; Lon-
don Stock, 135, 138 ; Midland, 105 ; North Staffords, 81,
94 ; Old Dovers, 27.
The COLONIAL MARKETS present a more lively appear-
ance. The sales yesterday wereabout 500 hhds. The grocers
have taken 400 hhds. Barbadoes, at very stiff rates. The
sale of foreign sugar went off well. Molasses are in good
request, and little offering. For rum there is a good in-
quiry, and holders will not sell unless at an advance on
previous prices. Demerara, 10 per cent. over proof,
fetched 2s. 3d. per gallon, and 34 per cents. 3s. 3d. The
demand for coffee is not so active. Tea continues very
quiet ; the dealers still purchase very cautiously. The
Dyewood Market is rather better. Campeachy Logwood
is in fine request, both for home use and exportation.
For saltpetre many buyers are to be met with. Several
parcels have been withdrawn. The owners decline to sell
in the present state of things. 1000 bags have been
placed, at an advance of ls. per cwt.—ln London,
the week, transactions have been on a small scale, but prices
have generally been supported, although in the case of
coffee a reduction has taken place. The sugar market
has shown signs of firmness, and nearly all that has been
put forward by the importers has been taken by the trade
at previous prices, and sometimes at an advance of 6d. per
cwt. Tea market firm, but not active. The termination
of the indigo sales showed that the very large quantity
of 8700 chests had been sold, of a total of 10,130 chests
brought forward.
We have very little business to report in Corrow, and,
all things considered, it would be matter of surprise if
we had. The demand, YESTERDAY, has been only to the
extent of 2,500 bales, at 4d. below the prices of Friday
last, with an uneven market. Holders are willing sellers,
but there is no forcing sales, as our market would not
bear it : we should soon be nowhere as regards prices.
The business done in FOREIGN Wool. during the past
week has been on a very extensive scale, chiefly in
Mogador, Buenos Ayres, and Turkey, but there is not any
advance in price to notice. Imports for the week :
Foreign.—Monte Video. 155, Venice. 50, previously,
14,0z8 total, 140'33. Scotch, 454, previously, 1.685 ;
total, 2,139.

The market for Scotch Pig IRox was firm in the earlier
part of the week at our previous quotations, the news
from France has, however, operated unfavourably upon
prices, which have somewhat receded, and may be quoted
up to last night—delivered in Glasgow—No. 1,51 s. 6d. ;
Mixed Nos., 50s. ; No. 3, 495.

Since the reports of the CORN TRADE, up to Friday,
which appear in another column, we have no change to
notice in the prices of any article of the trade in Liver-
pool. In fact, up to last evening the trade was at a stand-
still. The probability of a continental war, and the vari-
ous conjectures as to how prices might be affected by such
an event, has produced this stagnation. Some have gone
so far as to anticipate that European holders would send
as much grain as possible to England for security, and
others that war prices would be demanded ; so that in
the present uncertainty the trade is only in small quanti-
ties, for immediate consumption.
In the LIVERPOOL PROVISION TRADE, yesterday in-
clusive, we have to report moderate arrivals of butter
from Ireland, amounting to 3,810 firkins, 952 crocks. As
usual at this season, dealers purchase sparingly, and con-
fine their transactions principally to prime qualities, which
command full prices and are scarce. There is a slow trade
for middling and inferior kinds, and holders, wishing to
sell, are disposed to submit to a reduction.-Prime Irish
bacon, of which 121 bales arrived last week, is in good
demand.-Hams (13 hhds. arrived) a drug in the market.
-Lard, 2 tierces, 20 firkins, 10 kegs arrived.
Prices in Liverpool.-Butter: Waterford, 88:. to 945. ; Kil-
kenny, Carlow, and Clonmel, 88s. to 925.; Carrick, 86s. to 88s. ;
Wexford, Carlow, 888. to 89s. ; Belfast, 888. to 925. • Bally-
money and Coleraine, 86s. to 898.; Banbridge, 84s. io 88s. ;
Newry and Dundalk, 808. to 82s. ; Dublin, Carlow, 848. to
888. ; Sligo, 80s. to 865.; Londonderry, 82s. to 868.-Bacon:
Long Middles, free from bone, new, 565. to 60s. ; Short Mid-
dles, do. do. 58s. to 60s. ; American, 408. to 545.-Lard: Fine
Keg, 60a. to 665.
In American Provisions there has been a pretty extensive
importation of Beef, 2700 tierces of which has been to a
London house; and until this is brought into the market,
very high prices will be obtainable for smallar parcels.
New Pork is scarce, and much wanted. The market has
been cleared of Old Bacon, at improving rates : New is
in good demand, best qualities fetching very high prices :
a great portion of the 400 boxes of Western cured offered
at the public sale on Friday was sold at 465. @ 495. 6d.
Hams and Shoulders are selling at the best prices holders
can get offered. The import of Lard has been large, and
the eagerness of holders to bring it forward to public auc-
tion has had a depressing effect upon buyers, and really
fine quality, in kegs, has been sold at 51s. Cheese has
been taken freely at an improvement. In Butter there
is nothing to notice.
Prices at Liverpool (duty paid):-Cheese-Pine, 46s to 50s
Mswiir'idlLigiVil:,iraPtgc4es,s3i}llol3BVioP PigX As. tiOegs-T
ordinary, fibs to 68s, new 80s to 868 ; extra, lansdila, family, &c.,
058 to 100 s; ditto, per half-barrel, 30s to 355;-Mess, per bar-
rel, 2001 b., 40s to 465, new 50s to 568 ; ordinary, 36s to 40s, new
40a to 46s ; prime, 30s to 325. Pork-U.S.-Prime Mesa, per
barrel, 2001 b., 48s to 60s, new 65s to 70s ; prime, 35s to 40s;
mess, family mess, 4es to 555. Bacon-L(sllg Middles,
35s to 425, new 43s to 54s per cwt.; Short do., 35s to 425, new
48s to 548; Shoulders, 22s to 265. Ham-Dried, 20s to 508 per
cwt.; in salt, 248 to 335. Lard-Pine. in kegs, 54s to 56s per
cwt.; ditto, in barrels. 538 to 558. Butter-Canada, 58s to 67s
per cwt. Soda Biscuit-30s to 35s per cwt. Pilot Biscuit-
15s to 20s per cwt. Onions-4s to 58 per cwt. fipples-20s to
30s per barrel.
Imports from the 10th to the 23d February:-Cheese, 1161
casts, 2987 boxes; Beef, 3113 tierces, 323 barrels; Pork, 834
barrels ; Bacon, 1901 cwts. ,• Hams, H casks, 18 loose ; Lard,
2492 barrels, 10,713 kegs, 463 cases; Butter, none.

The following particulars of the TIMBER TRADE are
condensed from Messrs. Chaloner and Fleming's last cir-
cular, published on Friday, since which nothing of im-
portance has transpired :
Pine Timber There has been a more active business at im-
proved prices for St. John, and declining prices for Quebec.—
_Red rine has maintained its value.—Quebec Deals have gone
off readily at from 10s tO £101.28.6d. for second and mid-
dling qualities yellow pine, and ea las, per standard for
spruce.—Plank, New Brunswick and Nora Scotia Fir: The last
sales of St. John were at 2d. 1-32 and 2d. 3.16 per foot of the
former, one-third was red pine, and the remainder spruce.
Prices of deals and boards are improving.—Birch Timber : The
last sale of St. John, with cargo, was 14d. per foot.—Quebec Oak,
of fair quality and size, has been sold by auction at 2s. per foot,
and a few good logs at 2s. sd. per foot.—Quebec Elm sold at
171 d. to 20d. per foot.—Quebec Yellow Pine Masts : The last
sple was 2s. Gd. per foot for a small parcel.—Quebec Staves have
been in better demand.—New Brunswick and Nova Scotia Ash,
4.c., Hogshead Staves are in very limited consumption.—United
States Staves have somewhat revived in demand through the
better inquiry for Canada Staves.—Railway Sleepers: This
week 3s. 9d. and 2s. 9d. each has been refused for a cargo
9 x 10 x 5 and 9 x 9 x 4 respectively.—ln Mahogany several
sales have taken place, but we have rot room for the quotations.
—Cedar, Havana Yesterday 155 toes, good quality, were sold
at from 4id. to 6d. per foot.— Zebrawood : Yesterday 23 planks
were sold at from £5 ss. to .e 6 105.—Satinwood is held suffi-
ciently in stock, but is not enquired for, even City St. Domingo.
—Rosewood: Yesterday 128 planks were sold at £lB 105. per
ton. —Lancewood spars are heavy of sale, and sufficient in
stock.—Teak Wood. Green-Heart, and Morra Timber: Yester-
day a parcel of good Sabine was sold by auction at from 2s. Ild.
to 3s. 3d. per. foot.— Liynutuvitw : City St. Domingo bas de-
clined in value.
The following is the most important feature of the cir-
cular :-
1 " Baltic timber an d deals have been entirely neglected, through
disinclination on the part of buyers to come forward until the

1
last reductions have taken place, which will not be carried into
effect till the 6th of April. But whilst we assign this as one
reason, we would earnestly and pointedly draw attention to the
fact, that this branch of the timber trade, particularly in deals,
is being transferred from Liverpool to Hull. This arises front
the superior energy of the Hull merchants, their railway and
dock committees,who assimilate thei rfreights to Manchester and
other more pr.. . rtionately less central markets, with those of
Liverpool, and 4 ,tt greater development of railway facilities,
enable buyers to secure their purchases at less cost, and in les.
time than from the Liverpool market; whilst on the other hand,
the delay, annoyances, expense, and confusion in• getting wood
sent thrQugn the tunnel here, not only operate to the great di-
minution of traffic on the line, but practically nullify the under-
taking, by entailing a local cost, which even hears comparisolt
with what might be the entire transit expense between Liver-
pool and Manchester, until that miserable and confined hole at
Wapping hardly big enough for an inland town—miscalled a
station—ceases to be our only accommodation for wood goods.
Until branches of rails are placed, in direct contact with the
shipping and every principal depot for merchandise in the port
—until goods and wood can be transmitted with the facility of
passengers and luggage, railway capability cannot be said to be
fully developed ; nor can our local authorities and railway maw-
agers escape the imputation of nullifying by their supineness
and neglect, •the advantages which Liverpool possesses as a
principal port, and the great central market of the United
Kingdom. These gentlemen may reply that all this must be
the work of time, and that later, such improvement can be
made; but we submit to their recollection, that the first rat-
way schemed in these parts was intended' for the transit- of
goods between Liverpool and Manchester. The passenger ro-
turns being comparatively little reckoned upon as a source of
revenue, and the timber trade, it was arzued, would dertve the
grsatest advantage from its construction. Surely we, who
twenty years ago assisted in its formation, have some claim to
see in our lifetime the nromised consummation. London is
introducing the North Western Railway in connexion with the
West India Docks. Are we to hare our' furniture-wood trade,
which has already suffered severely, as far as the neighbouring
manufacturing district is concerned, quite taken from us, as We
have now lost our Baltic deal trade l Clyde, Dublin, and Bristol
have, we know, lost their mahogany trade; and should Liver-
pool so lose hers, it will be then too late to regret the misman-
agement which occasioned it, or call into play energy and
activity which, now exerted, would preserve it."

The excitement in the City on Friday last exceeded
anything witnessed since 1830, and Consols, which opened
at 884, and nominally closed at 88, fell after the regular
hours of business to 854, owing to the announcement of
Louis Philippe's abdication having subsequently arrived;'
and all other securities receded 2 or 3 per cent. below the
official "closing" prices. Scarcely any business done in
the foreign market. The excitement prevailing on the
Stock Exchange on Saturday was intense, and the move-
ments of the English funds throughout the entire day
have been most rapid and violent. Consols for money
opened at 841 to 85, whence they suddenly receded to 83.
Upon a rumour that a Recency bad been established in
France they rose to 851 and when it was understood that
a Provisional Government only had been formed they again
fell and were quoted 84. After this they were done at 841,
and at the close of the market the price was 831 to &IL
After the regular hours of business 834 was the quotation
for money, and 831 to 4 for the account. For Bank Stock
the last price was 194 to 197 ; Reduced Three per Cents,
83k to a ; Three-and-a- Quarter per Cents, 844 tot; In-
dia Stock, 238 to 242; and Exchequer-bills (March) 17*.
to 225., (June) 21s. to 255. premium.—With regard to the
comparative fluctuations at the two dates, 1830 and 1848,
it appears that the total fall in Consols. consequent upon
the three days of July was not quite 3 per cent., whilst
now there is a fall, consequent on the recent disturbances.
of 8 per cent.

A letter from Rotterdam announces, that the Data
Company's sales of coffee are fixed for the 3d and 6th of
April, and will contain 497,579 bags, which is all that win
be offered by the Co. until next spring. This is impor-
tant, as the Co. have hitherto always had a large autum-
nal sale.

Athices from Jamaica anticipate, with respect to the
1848 sugar crop, that the deficiency from the production
of former years will be very great. The weather at To-
bago is stated to be peculiar for the season of the year,
and, although favourable for the young plants, muck
against crop operations.
Accounts have been received from Barbadoes to the
29th of January, respecting the position of the West India
Bank. A meeting had been held, at which a report of a
joint committee of directors and extraordinary directons
had been presented stating the liabilities of the bank at
43,435,183, and the assets 43,564,774, after deducting
4'424,587 for bad debts. The surplus left to meet the
original capital of 4'600,000 would be 4129,590. The
committee proposed to make a call upon the proprietors
of 415 per share, and to liquidate the claims of the de-
positors and other creditors of the bank by instalments of
25 per cent. on the Ist Aug., 1848 ; 10 per cent. Ist Nov.,
1848; 25 per cent. Ist July. 1849; 25 per cent. Ist July,
1850, and the remaining 15 per cent. on Ist Dec., 1850,
with interest at the rate of 4 per cent. per annum. The
committee could not then see their way as to whether the
bank could be resuscitated, and meanwhile proposed to
do business "to such an extent as would meet their
current expenses." The debt of Barion, Irlam, and
Higginson was estimated at ss. in the pound.
The commercial advices by the steamer from America
state, that the exchange at New York was at 10 to 19} pee
cent., just touching the point at which specie could be re..
mitted to advantage. In breadstuffs few purchases were
being made for England, and the little demand for ton-
nage room at New York had sent freights down to ls. 6d.
per barrel for flour. Although but few vessels compara-
tively had cleared for Liverpool at New Orleans, there
were symptoms of increased operations in produce for this
market in the additional number of vessels placed on the
berth, with a slight improvement in freights ; no less than
forty-two vessels being up for Liverpool on the 2d Feb-
ruary, in addition to those already cleared. The receipt*
of cotton at New York up to the 9th Feb. 1848, were
9,300,403 bales, against 1,002,770 bales ;n th" previous
year, and 982,738 bales in the year befor,. The export*
to Great Britain for the first-mentioned period were
222,668, for the second 248,749, and for the third 378,465.
The stocks were respectively as follows : 461,584, 501,6E8,
378,465. The following are the official estimates from the
Patent-office, in Washington, of the crops of the United
States, throughout the Union, in 1847, in bushels r India*
corn, 540,000,000; wheat, 111,530,006; rye. 31,350,00 ft
oats, 177,000,000 ; buckwheat, 11,674,000 ; barlel.•
5,735,000 ; potatoes, 97,018,000. • This last crop (pota-
toes) was very much diminished in consequence of the
rot. The Indian corn is chiefly yet on hand. The to-
baco crop was 219,964,000 pounds, a slight diminution
compared to former years. Cotton crop, 1,026,500,000
pounds ; rice, 103,400,500 pounds ; silk, 404,600 pound"
of cocoons.