Whig Republican. [volume] (Lexington, Miss.) 1840-18??, 1840-11-26
FORElG H..
From The london Sun. Of October 10.
State of Trade.


State of Trade.
MAxcHEsrER.-To give even faint idea
of the continued depression and de:angement
of commerce in this district, would be diff 7
cult task. We did hope that the gloomy ac-
counts we have been forced, week alter week
to record. could not be worse; bat we may with
truth say, that it would be impossible to name
corresponding week or month equally Hat
gloomy and dispirting, We deeply regret to
saw that since our last report goods and yarns
have been eveR more difficult to seH The
manufacturers and spinqers are becoming en-
Uttered and desperate, and rack their brains
TO devise means of e1tricatng themselves
from the pending storm; but instead of having
recourse to the only remedy left, viz: cur
tailment of their product ion, some have, and
others are attempting to reduce the wages of
both weavers and spinners. About 10000 to
10000 people are out of employment in Black
burn and its vicinity, in consequence of the
masters wishing to reduce the wages of their
hands (of all that reaeive 9 weekly 10 per
cent. The hands consented to submit to s.
but the masters uKimatu7a was II TO which
the hands would not rec, and the result is
that all the mills standing, but what is
worse, the people, if not starving, are merely
existing. Perhaps never In the memory of
the oldest man was the trade in this district
in so critical ard alarming state. We are
sorry to say that stocks of all sorts of goods
and yarns are accommodating; and should the
l.,
b,ockades on the South American coast con-
tinue. to which we must add the expiration of
the shipping of yarns to Rpssia. it IS quite
certain that spinners and manufacturers will
be driven to work in a shsrt time, or the mar
ket will be glutted, prices will be lower, and
ruin inevitable. At the early part of the
week money in London was more scarce than
when the discounts were at the highest pitch
and s per cent was given for discounting good
bills; but the dividends being paid it was ra-
Their easier.
The Bank of England Directors have since
passed Il resolution neither to erd money nor
discount any bills that have more than % DAYS
to run. This will have fearful effect upon
prices. II Manchester 6 per cent was char
ged for long dated bills by one banking house
and to give some idea of the scarcity of mon
ey here, one joint stock bank, have requested
their customers to take three mont bills for
their checks instead of cash. The Steamship
Britannia has arrived, and brings news from
New York to the LIST. The accounts respec-
Ting tha-er~a @.f ,e,'.~,
Trajectory.
The crop has, in different locations, sustain
ed injury. but upon the whole We have no
doubt that tie quantity will be equal to last
years. Domestic cloth continues very de-
pressed, and sales can only he effected at ruin
ously low prices. Hand loom cloth is very bad
TO get off: 70's weighing Bib. 2oz cannot b,
sold for more than :3s 7.d to SIS Cd; 3b I4oz
are offering at As I'D to As 3D. and Alb 2oz
at 4s load to SIS. Power-loom printers, 66's
5s 4sd to IS 73d; and TBS, IS 7.d to IS; al
though some wealthy houses refuse to sell 4
these prices. The print trade, with few ex
ceptions is also very fat, and many works ar
only working half time.
from The london .norning Pbst, If Oct. 13
-.l,-