The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1851-06-10 00:00:00

THE LIVERPOOL STANnARD.

A PRACTICAL MERCHANT'S OPINION OF OUR
MONETARY SYSTEM.

In their circular of the 4th instant, Messrs. T. and H.
Littledale, after noticing the fortunate influx of the paltry
sum of £315,000 into the Bank coffers, which has had the
effect of relieving the commercial world of the dread of a
monetary crisis, remark :
" Another week or two of diminished stock in the Bank, and
the directors would, no doubt, have raised the rate; and what
could have been more uncalled for, nay, absolutely more un-
just at such a moment as the present ;—no commercial specu-
lations on foot,—six months of almost unprecedented dulness
in trade,—prices of nearly every article of import moderate and
below cost, and yet, i f from anti cause, however accidental, the
Bank had lost another half-million or bullion, it would have
taken a step that would, in an instant, reduce the value of
produce alone in the hands of merchants and manufacturers ten
or twenty times that sum I"

This is truly a lamentable state of things ! Such a mone-
tary system as this, still tolerated, is degrading to the
intellect of a great commercial nation.

ANALYSISoF REGISTERED BRITISH TONNAGE

The following is collated from Mr. Braithwaite Poole's
Statistics as the registered tonnage belonging to the ports
mentioned :

Sailing. Tons. Steam. Tons.
London Vessels...... 2,719 603,377 895 108.706
Liverpool „ ......1.715 503,224 93 11,411
Hull 11
Bristol „ ...... 295 38,896 31 3,808
Glocester „
S'thampton „
Hartlepool „
Aberdeen ~
Dundee „
Greenock „
Sunderland ~
Goole 71
Leith 91
The tonnage of Newcastle-upon-Tyne is not given.

COMMERCIAL AND MONETARY NEWS.

Monday Night,

Our Colonial markets continue depressed. On Satur-
day 2,500 bags of low brown and 500 bags middling white
East India Sugar were sold at lower prices, the former at
an average of 28s. 3d. per cwt. To-day 500 bags of low to
fine white Benares sold at 39i. 6d. to 425. 9d.
The Cambria arrived yesterday from Boston. The ad-
vices by her are rather more in favour of holders of Cotton,
inasmuch as the receipts were at last beginning to
slacken, and the decline in price had not been more than
half of the late decline in this market. This has given
rather more confidence, and the sales to-day reach 8,000
bales, 1000 of which were taken on speculation at extreme
rates.

'The opinions of Messrs. Littledale and Co. are now
looked forward to monthly with great interest, and the
following extract from their last circular deserves the
attention of the commercial public :

"The month of May has been characterised by the some
dull apathetic spirit in our produce markets which has pre-
vailed, with but few interruptions, since the opening of the
year; the improved tone to which we alluded at the beginning
of the month quickly passed off, and all our leading imports—
Cotton, Silk, Wool, Sugar, Tea, Rice, and Indigo have alike
become depressed in price, though not to the same extent, and
difficult of sale without submitting to a sacrifice. The demand
for the first named article—Cotton—has certainly increased
considerably in the last week or fortnight; but, after a decline
in value, quite unprecedented in the same space of time since
1825, and with the least apparent cause. Though we cannot
but regret the heavy losses which present holders will suffer by
the fall, it will, no doubt, have a beneficial influence in giving a
fresh stimulus to trade at large—all the buyers of manufac-
tures, whether for home use or export, as well as the manu-
facturers themselves, in the purchase of the raw material ap-
pear to have lost confidence, and their operations were conse-
quently more and more circumscribed. In fact, though our
exports have kept up in a wonderful manner in spite of the
high price of Cotton, it is well known that lately they have
been doing little or no good to the senders, and when the con-
dition of the great mass of the consumers of our cotton fabrics
abroad is considered—the inhabitants of India,—the poorest of
the poor,—of China and the East,—of South America and the
Pacific Islands,—it is quite evident that low prices can alone
ensure a progressive developement of this branch of our na-
tional industry, on which, under the present system of our
legislation, our commerce is so mainly dependent. Prices of
Colonial produce must be considered tolerably safe, and our
stocks are not excessive."

The opinions expressed by well-informed writers in the
United States, on the subject of the decline in Cotton, bear
out our own remarks that it has been caused as much by
a money-panic as by the reported increase in the crop of
Cotton. Messrs. Talcott and Co., in their circular of the
26th May, speaking of the Baltic's advices, say " the ac-
counts led to the conclusion that a monetary, not a cot-
ton, panic raged in Liverpool, and that but one idea was
uppermost, namely, " to sell, price being a secondary ob-
ject ;" and the writers add :
" Our own views in relation to crops remain the same as last
advised, namely, that the receipts, now lessening, by the latest
telegraphic reports from the Southern markets, will not, in the
aggregate, reach 2,300,600 bales, and, in addition to this, we
have the most positive advices, even from those who would be
deemed worthy of credit in Manchester, that the present plant-
ing season is a very late one. The supply from a crop of even
2,350,000 bales, following that from a crop. of 2,096,00 bales,
with good trade and light stocks of goods, is too small to au-
thorize the continuance of such prices as those advised per
Baltic, longer than the existence of a panic, during which, of
course, no sound judgment or business talent is brought into
requisition."
Although the imports of Breadstuffs into this port have
not recently been quite so heavy as usual, yet this does
not seem to have arisen from any deficiency in the supply
which the foreigner has to send us, for on Wednesday and
Thursday sixteen vessels arrived for orders at Queens-
town, laden with foreign Corn, and since our Friday's
market, viz., in the last two working days, we have re-
ceived into this port :—Coastwise, Wheat 159 qrs., Malt
800 qrs., Oats 19 qrs. ; United States, Indian Corn 9,682
qrs., Flour 9,416 brls. ; Europe, &c., Wheat 7,933 qrs.,
Barley 1,170 qrs., Beans 3,095 qrs., Indian Corn 2,015
qrs., Flour 8591 sacks; total, Wheat 8.092 qrs., Barley
1,170 qrs., Malt 800 qrs., Oats 19 qrs., Beans 3,095 qrs.,
Indian Corn 11.697 qrs., Flour 8,591 sacks and 9,416 brls.
Our Share Market has been firm since our last publica-
tion, and prices from a preponderance of sales have declined
generally. The amount of business done has been very
small, and the greater portion of the sales speculative. To-
day there has been some slight rally with evidences of stock
being scarce for the settlement. We annex the prices :
Aberdeen, ll ; Caledonian, 13 ; East Lancashire, 15 148 ;
Old Leeds, 554 5 4 ; Do. Fifths, 7-ad ; L'pool, Crosby,
and S'port, i d ; London stock, 123 k; Do. new Quar-
ters, n 4314 p ; Manchester Shef & L'coln pref. 1I8;
Midland ,52/ 3; Do. Halves, 17d ; North Union A, 241 ;
Old Dovers, ; York and North Midland, 224 c;
Commercial Bank, 114- 11.

The increase of railway traffic for last week over that
for the corresponding week of last year has been,—upon
the Glasgow and South-Western, £6BO ; the East Lanca-
shire, £720 ; the London and South-Western, £1,240 ;
the Lancashire and Yorkshire, £1,630 ; the South-
Eastern, £2,040 ; the Great-Western, 3,550 ; and the
London and North-Western, £6,200. The Great-
Western traffic for the present week will be, it is stated,
about £5,000 above that for the corresponding week of
1850.

Messrs, Vianna, Jones, and Co., of Water-street, have
presented four of their clerks with £lO each, to visit the
Exhibition, and we hear that other leading firms in the
Mediterranean trade are about following their example.
Rector Campbell, chairman of the Select Vestry,
accompanied by Mr. Cardwell, M.P., had an interview
with the Right Hon. H. Labouchere on Friday, at the
Board of Trade.

The Albion states that Lord John Manners purposes
explaining his views to the electors of Liverpool on the
Papal question. We know not what truth there may be
in the rumour, but a fashionable correspondent informs us
that his lordship is about to be married—probably to-day.
The weather since our last has been extremely variable.
On Wednesday a very heavy storm of hail fell in the even-
ing, the icy particles being unusually large: On Saturday
Sunday, and yesterday much rain again descended. On
Sunday we had a heavy gale of wind from the westward.
A contemporary says that there is every probability of
the Birkenhead Dock Bill being successful before the
committee, the proposed alterations having been already
sanctioned by several of the official departments. The
committee meet on Tuesday n;xt.
FATALITY ON BOARD BHIP.—On the 14th ultimo,
John Cunningham, a cotton porter, who resided in
Henderson-street, was working on board a vessel, when
a bale of cotton fell upon him. As soon as possible, the
injured man was conveyed to the Southern Hospital, where
death put a period to his sufferings on Sunday last.

ROYAL AMPHITHEATRE.—The public will not have an
opportunity after the present week of witnessing the splen-
did performances of Mr. G. V. Brooke and Mr. Barry
Sullivan. In consequence of their extraordinary success,
it will be seen that they will again appear alternately as
" Othello" and " Ingo."

ATTEMPTED Sulc!DE.—About one o'clock yesterday
morning, the neighbourhood of Cheapside was thrown
into a state of great excitement, by the report that a
female of advanced years. named Graham, had cut her
throat. A police constable, who heard the report, went
to a house in No. 9 court, Cheapside, where he found the
poor creature in a dreadful state. Surgical and other
assistance was immediately called in.

Messrs. llarnden and -Co., of this town, have estab-
lished a line of steam-ships to run from Boston to this
port. The first vessel of the line is now ready, and is
named the S. S. Lewis. She is of 1800 tons burden, and
will be commanded by Captain Barstow, already well
known for his skill and assiduity as an ocean navigator.
These steam-ships are said to be equal to anything
afloat. The first vessel will leave Boston on the first of
July.
THE TOWN SURVEYORSHIP OF LONDONDERRY.—Our
talented borough engineer, Mr. Newlands, was recently
permitted by the Council to report to the Corporation of
Londonderry on the capabilities of gentlemen presenting
themselves for the si►uation of town surveyor for that
city. Mr. Newlands, in an able report, informs the Cor-
poration of the maiden city that not one of the candidates
possesses the requisite qualifications, and the Council have
therefore determined to advertise again for a person to fill
the office.
SERIOUS CASK OF STABBING.—On Saturday night,
constable 165 was attracted to a cellar in Banastre-street,
by some unusual noise, and upon entering, found a man
lying on the floor, bleeding from a wound in the back.
lie was taken to the hospital, where it was attended to,
and yesterday morning he appeared at the police court to
charge a woman named Mary Jones with having com-
mitted the act. The man, whose name is Edward Slater,
said that atter he returned from the hospital she stabbed
him in the breast with a fork. A surgeon from the hos-
pital stated that the wound on the back had been inflicted
by a table knife, arid penetrated from an inch and a-half
to two inches, and was only prevented penetrating the
chest by its lateral direction : the wound on the chest was
exactly over the region of the heart, and would have been
fatal had not the instrument struck on a rib. The woman
wag remanded.