The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-09-10

Saturday, Sept. 90 p. M.
The stock market was much better to-day and prices
generally rose Harlem, Canton II; Indiana, I; ILL.,
nois, l.
at lI4f.
We extract from English publication the following
remarks upon the influence of the American trade upon
the value Of iron in England and also particulars
of the state of that trade from official documents
should be forgotten that In the year 1896 iron
could not with all the powerful and extended means OF
production be made last enough to meet the demand 2.
names put down in the orderbook Of the for
supply after all previous orders the books had been
executed and state deliberately and advisedly our
opinion that those previous ORDERS which would take
many weeks in several months to be execute
ed amounted, in the highest state Of demand to more
than all the iron now on nand and unsold IN oreat
Britain. This demand was not SO greatly dimnisheu
the beaksge of the Banks and Oh tne
United States, in the spring and summer Oh as 70
the trade to be unprohtabe For In the ciIcu
stantia and what shall call authorized version OF
what was submitted TO the Ministers, which tne wor
northampton CHRONICLES" has published. Mr.. w Spar
speaks to this fact decidedly in the foilowhg ex
tract :"w. H. Sparrow, Esq then gave an account Of
brought under the view of the Ministers several state
sns as to the rate Of ad "a n nlh sa
fordsbire) was 94 in February ls4o there were 1885,
there only r. This trade was doing well un'
iii April ls when began to decline. The reduction
in the price OF had been about sixty per cent? the re-
ducton in wages about forty per cent? Now let
be noted that "tho trade was uOiuB
which was four years after the breakage of the Banks
and the convulon OF the United States; and
sit began decline" or to be bad sixteen months be-
fore the new Tariff Of the United States enacted
came into operation II is not to be denied that
and manufacturers must feel sensibly great falling of
in the demand their products in the United States
but Mr. evidence proves that there has baen
greater than that at work to plunge the ro
trade into preaent ruinous condition What is that
cause7 We contend It 10 Immediately the breakages of
the Banks in England Joint Stock and Private
which have taken place since the msnth OF April 1871,
and the contraction Of the circulating credit Of the
try which those break ages have asoned This effect
he ation which the broken Banks themselves
afforded the public, and second, by causing all other
Banks regulate their business by strict rHles Of
circumspection and cauton-all rcferable to violent
changes in the currency.
We insert OF the details submitted in tables
to tho Minister'S but caEnot understand those relating
prices where barron is set down at f5 the tom and this
suppose means the regulation price as determined at
their quarterly meetings by the ironmasters, which
having been settled, may continue till October. We
know that bsriron delivered at Liverpool at from
ga to Ca the ton, and the latter price quoted by
MIR. Thorneycroft The following figures however
give the relative prices -
"The following statement, the result of of the
documents shows the highest and lowest price Of two
classes of ron since January 1885, and the difference
per cent? -
Forge Pig Iron CO 10 E2 10 6lH per cent.
Common Bar Iron II 10 5 SIS
After inserting another table of prices, the reporter
states -
"The general result of these calculations reduction
considerably beyond that stated to Ministers, namely,
sixty per cent in the selling price of IRON The follow
ing table shows the highest and the lowest rate of
a 49,.