The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1843-05-02 00:00:00

OV TWA

LEICESTER HOSIERY TRADE..---It is extremely difficult to
ascertain the actual state of trade in Leicester; the unex-
pected stoppage of the bank of Messrs. Clarke, Phillips, and
Co., has acted like the shock of an earthquake, and has pro-
duced the most intense alarm and concentration through all
grades of society. Ai it is accompanied by the failure of
another bank, in a neighbouring market town, it caused a
complete panic last Saturday, upon the fact being made
known. Its effect was even greater amongst the agriculturists
than the manufacturers and tradesmen, as cattle suddenly
lowered in price from £2 to £2 10s. in the Leicester market.
The glove trade is, to all appearance, in about the same state
that it has been for some weeks past, the hands being pretty
generally employed. The woollen glove season appears to be
dawning, which holds out hopes that a good season may be
expected. It has come earlier than usual. The fancy hosiery
branch is improving ; more material has been given out, and
more is expected every ensuing week. The articles made are
cravats, shawls, children's boots, mitts, cuffs, and many
other articles, which, in addition to the frame-workers, em-
ploys many hands in warping, winding, and making-up.—
Nottingham Journal, of Friday.
HOSIERY AND LACE TRADES.—The silk glove branch in
the town is in much the same state as last week, that is, the
hands are only partially employed, and that in a very un-
certain manner, making generally slop gloves, with cut thumb
holes, and other inferior and fradulent methods of fashioning.
On the other hand, at Derby, Wiper, Duffield, and other
villages in that part of the county of Derby, the glove hands
are fully employed, making very superior qualities of gloves,
and, in many instances, having extra fashion.—lbid.
ROCHDALE FLANNEL MARKET, MONDAY, APRIL 2.1.
In the piece market there has been rather more business
done, but prices have been extremely low. There is also a
little improvement in the wool market, and the dealers are
asking rather higher prices.

Tsit IRON TRADE.—The iron and metal trade gets worse
and worse. It is in it that the want of the American market
is pr'ncipally felt. This will readily be believed when it is
considered that in 1839 our exports to the United States of
iron and steel, copper and brass, and tin plates, amounted to
£1,227,808, besides hardware and cutlery, amounting to
£849,640 : making a total of £2,077,448 worth of metals and
their manufactures, exported in one year to America. Fur-
ther, when we consider that of this prodigious sum no less
than £1,650,838 was for iron and its manufactures, and that
this extensive trade has fallen off to about one-third, we shall
have an important fact to assist us in guessing at the causes
of the depression of the iron trade. In Staffordshire, out of
111 furnaces, 53 are now lying cold, and have been blown
out for 12 months, and their non-production withdrawn at
least 220,480 tons weekly from the market; notwithstanding
this, the price of iron continues to fall, the demand to become
less, and the worst, but clearly inevitable, evil follows—
wages are reduced, and industrious men are driven out of
employment.— Worcester Herald.

PROSPECTS OF THE RETURNING PROSPERITY

OF THE COUNTRY.

During the last month, if not within the last fortnight, we
have encountered so many complaints of public distress in
retail trade, in industrial occupation, in commerce, in manu-
factures, and we lament to be be compelled to add, in agri-
culture also, both as regards farmers and their labourers ;
and the question has been so often suggested to us, how long
this is to last, and whether there is any reasonable expecta-
tion of an improvement taking place, and from what quarter,
and at what time, that we can in truth scarcely direct our
thoughts to any other subject.
We admit the circumstances of the distress, and its gene-
ral existence among all classes, to the fullest extent in which
we find it alleged, as the proofs before us amount to evidence
admitting of no doubt. In retail trade, even in the very ne-
cessaries of household life, consumption has very greatly
fallen off; smaller profits are made even upon what is sold,
and thus the large class of our shopkeepers are suffering their
share in the common distress. In the industrial occupations
of great towns—we are not speaking here of manufacturing
towns, but of cities like Lotidon,—the wages of labour, such
as that of mechanics, has not been proportionately reduced,
and therefore this class of people is suffering less than the
shopkeepers. In shipping and commerce we have had occa-
sion to know that the suffering is very great, and merchants
and shipowners can no longer find a due employment for
their capital. It is needless to say anything of manufactur-
ing distress as it existed about a month from the present
date. In agriculture the low price of corn and cattle has
spread a panic amongst the farmers, and their labourers are
necessarily suffering under its effect. So much as to the fact
of the distress.

As to the causes, they are almost equally obvious with the
existence of the distress itself. The manufacturers have been
depressed, not to say ruined, by the three concurrent causes
of the total failure of the American market; of the prohibi-
tory system of the continent of Europe ; and of over-produc-
tion, and senseless competition, in the very jaws of ruin,
amongst themselves. Our shipping and commerce have suf-
fered from the state of the foreign, European, and American
markets ; our retail trade has suffered in like manner from
the impoverishment of its customers, and from the reduced
income and wages of the middle and labouring classes. In
the very midst of all this we have the income tax, which has
put all the higher and middle classes, from whom expendi-
ture mainly proceeds, each in itself, under the necessity of
saving the amount of the tax from their establishments, and
has thus still further reduced general consumption and em-
ployment. The weight of this has fallen chiefly upon the in-
dustrial and mechanic bodies, and has thus involved them in
the common distress of their masters and superiors. Again,
the vast proportion of the poor, who are now supported in
unions and by the parish, has also had a twofold operation in
adding to the common suffering ; first, by the increased bur-
den of parish rates ; and secondly, by the reduced consump-
tion of the poor in unions from what such consumption would
be upon the wages of their own labour. All these causes
and their operations are so obvious and evident as not to re-
quire a further word in explanation of the causes of public
distress.

In what we have above said, wo must be understood as
speaking of the state and condition pf the country as it ex-
isted a short time ago. We think we are not disposed to be
too sanguine, but our present impression is, that some light
is now beginning to dawn upon us, and we perceive plain
symptoms of approaching improvement.

The sPrings.;eent to be again rising ; and channels, which
have been hitherto klry, begin to exhibit the signs of the re-
turning waters, Our sources of production are, indeed, all
unimpaired. No country in the world is so rich in realised
and treasured capital, and in accumulated machinery—two
of the first instruments in trade and commerce. In agricul-
ture, our soil was never so fertile, and our mode of tillage,
and employment of manure, never so skilful and so diffused.
In minerals also—iron, copper, tin, lead, &c.—our mines
were never more productive, or better and more scientifically
worked. In manufactures also, so far as workmanship goes,
we maintain our superiority over all the nations of the world.
Thus all our resources are unquestionably entire, and thus
the continuance or termination of the present stageof 4istmss
is a question of markets only.
The main point of inquiry, tlierf.fe,rc, cznies to this :—is
there any reasonable gro,und kn; expecting that our markets
are improving, and thri in the failure of the foreign maim-
facturi,ig market of Europe, of which we fear we must nearly
take our final leave, other sources are about to open upon us,
which nosy in a great measure supply this defect, and restore
the former demand for British manufactures ?

So large a portion of our national industry, or, in simpler
words, our labouring class, has been hitherto competently
and comfortably supported upon tbe extent of our foreign
commerce, that we feel ai greatnatural reluctance to
abandon all hope of the return of foreign trade. It affords
us, therefor, gcLat satisfaction to be enabled to hold out
wbat w¢ aeon r, very reasonable hope of the return of a great
portion of trade. with the United States of America. Upon
general and obvious principles, we entertain no manlier of
doubt that these states, in despite of themselves, will be com-
pelled to return to their former trade with Great Britain,
and after a very short trial to abandon their present restric...:
tive system. America, with her new lands, and, sylAat neces-
sarily accompanies such a state of society, Ler:dear labour,
and her scattered population, cavinot, with all her efforts,
manufacture for herself fc,,; some centuries to come, and
must therefore 1.. w. driven by her natural necessities and phy-
sic:al ei4.eumstances to resort to the old states of Europe.
Another circumstance peculiar to her situation, that of her
common origin, and therefore common tastes and habits with
ourselves, must also as necessarily give us the preferencle
above the other nations of Europe. As these are it4;isputa.
bly first principles, and indeed natural an 4 physizal neoessi-
ties, which it is impossible to re,sillt, we cannot hesitate to
come to the conclusion, that the present oondition of trade
between England and America is merely temporary ; in other
words, Ow, in despite of her present perverse policy, nature
and necessity will ultimately force their way, and that the
Americans will again be compelled to resort to the British
market. All experience shows that no nation can violent',
force itself from one stage of occupation to another. Al
new states must commence with the agricultural stage, am
can only pass into the second or manufacturing stage whek
their lands are fully occupied and cultivated, when Owl:, po-
pulation becomes condensed into cities, and who;1 the ootn-
petition in the labour market between agri;;Uiture and manu-
factures shall cease. Dear lab,ohr, which is always the tied
cessary accompaniment of cheap lands, can never consist and
stand together w4ll pasperous manufactures.
Agaiu, even as regards our European market, although we
fear We must take our leave of a great part of it, there is still
some portion remaining, which,
according to present appear-
ances. seems to promise fairly. A circular from Liverpool
is now before us, signed by Messrs.
Buchanan and Co.,
which states that the cotton market is
now
obviously rising,
and that our prospects for the corning season are exceedingly
good. There has been a great increase for the foreign de-
mand for yarns, many of the German manufacturers having
s
increased their orders. The same circular gve a still more
_
tlatScrins accocitit of the increased demand of our home mar-

ANCEIRiTER.-04V cloth market is without change, for
an extensive business is doily,. and at the full prices of last
week. 6('s 27-inch, as also 40-inch shirlings, are very scarce
• iii the market, and the buyers are anxious to make contracts
at the prices that have been current for the last ten days.
The shippers are operating very freely, being certain that
• pi biting cloth is not at present likely to recede, in conse-
quence of the light stocks on hand. Domestic cloth, we are
also pleased to learn, is ready of sale, where the manufac-
turers will take a market price, and, with one or two except
tions, the stocks of this description of cloth still continue
light. The yarn trade is heavy, arid spinners cannot get on
to any extent at the prices current last week. The yarn trade
is brisk, particularly for printed muslin-de-laines, which can-
' not be produced sufficiently fast to meet the demand. 27-inch
66's may he quoted 4s. 7W. to 4s. 10Id., and 72's 4s. 101 d.
to ss. 3d.—Manchester Advertiser of Saturday.
BOLTOS.—There has no material change taken place in the
trade of this town during the last fortnight, which still pre-
sents a most animated appearance. Counterpanes have a
fair sale, and quiltings and muslins have received a slight
further improvement. Cotton yarns are unusually brisk, and
altogether the trade in yarns is encouraging. Founderies Of
both brass and iron continue to be more and more fully em-
ployed. Bleachworks are still well stocked with work.—llid.
BRADFORD, TRURSDAY.—WoeI Market. There is no
marked difference in this article during the past week. A
tolerable quantity has changed hands at prices similar to last
week.—l'ara. The dematid for yarn continues steady, and
prices fully supported.—Piece. There is a fair average busi-
ness done, and the prospect for the future is no way worse
than for some time past. Prices are generally firm.—Wake-
field Journal of Saturday.
TRADE OF LEEDS.—The amount of business transacted in
the cloth-halls, on Saturday and Tuesday last, exceeded that
of any corresponding market-days during the present year,
and the woollen trade generally, both for the home and
foreign market, is in a tolerably active state. It is true that
prices do not advance much, but it is gratifying to know that
many of the operatives are better employed than they have been
for a long time past, and that manfacturers and merchants
are not doing business without some profit to themselves.—
Leeds latelligencer. of Saturday.
linerrax MARKET.—There was again an animated de-
mand for mixture cloths, fine lastings, and even some of the
ordinary qualities of eamlets and other heavy stuffs at this
market on Saturday, but the manufacturers were unable to
raise the prices or to realize better profits. Yarns sold readily
at late prices; as did the finer sorts of combing wools, but
the ordinary qualities were thought to be less firm.—lbid.
HUDDERSFIELD M ARK ET.---We have no change to note
in the demand for goods at this market on Tuesday last.
There were fully as many buyers as on the previous Tuesday,
and a fair business was done in most descriptions of fancy
goods. We cannot hear of any very decided improvement
in prices, though it is generally considered that in that re-
spect " things are somewhat better " than they were lately.
—lbid.

OW .11014 ii tra4s," it this OiffikatiV, " shays 110
mc.ioith-v is fast sw.ergir4 trQin previ•
out and lone,-oontioued depression 1 our operatives are in
many quarters earning increased wagas all articles of food
are at low prices, and with a prospect of their so continuing,
and also with the prospect of continued good employment.
Thus, if sonic branches of business appear discouraging,
others (and those nearest home) are undoubtedly improving.
A low price for cotton is ever a most desirable consideration,
especially in this immediate vicinity."
But we must repeat that our main reliance must still be
upon ourselves ; we must look chiefly for the improvement
of our markets from our Indian, China, and colonial trade,
and finally from that enlarged consumption, which the reduc-
tion of our public expenditure, the removal of the incumber-
ing and disheartening income tax, and the development of
our own intrinsic and independent icsourees will introduce
into our own home market.
In India, we have one hundred millions of subjects, and a
country of such extent as to comprehend every variety of soil
and climate; we may have sugar, and all tropical produce,
to any extent, and the gradual civilisation of the natives will
introduce a large demand for British manufacturers. It re-
quires only a better system of administration in England and
India to develop the vast resources of this mighty branch of
our colonial empire; we must depart from the narrow sys-
tem of sacrificing the interests of this immense territory to
those of our West India Islands, and we must become more

attentive to the common interests of India and Great Britain

Unless we greatly deceive ourselves, India, under a more in-
telligent system of commercial administration, would of it-
self more than supply all that we could possibly lose by the
European market, and would amply repay us for any new
privileges we might confer upon them. Without infringing
upon the territorial rights of the Company, we may at once
enrich India and ourselves.

In China, also, it is needless to speak of the enlarged trade
which we may reasonably expect from the new facilities noes
afforded to us. " I have traversed China," said Sir George
Staunton, in the late debate in the House of Commons,
from north to south in two successive embassies, and I re-
sided for some years in a public capacity under the Company
at Canton ; I am therefore enabled to give my testimony,
that the Chinese, from the greatest to the least, are willing
to take, and are able to consume British manufactures to a
very great extent, and that nothing is wanting but a careful
and vigilant system of commercial intercourse upon our part.
But we must have nothing to say to the opium trade ; we
must not offend the public opinion of that empire, and the
determined purpose of the Emperor himself, by that odious
and immoral traffic."

In Australia, also, we have a wide and growing field for an
increasing demand upon the British market. Let us extend
this colony by an intelligent system of colonisation, an in-
creased encouragement of settlers, and we shall soon reap
the benefit of it by au augmented demand upon our home
market.

In Canada, also, we have already done much by the pacific
conciliation of the two parties which recently divided that
colony. Let us continue to pursue the same system and en-
courage her growth and trade, and we shall here also find
another outlet for British commodities.

Filially, let us add to this a steady and uniform reduction.
of public burdens at home; let us get rid of the main griev-
ance as soon as the public necessities will admit ; let us cut
off all useless expenditure and spare the public purse, and
we shall cease to have cause to complain of reduced con-
sumption, and unremuuerating prices.—Bell's Weekly Ales-
:el:2er.