The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-05-30
MONEY MARKET.

An indication of the growing excitement IN the s'ock
market may in the fact that motion mace az e
old board day. to raise the salary OF the rreside
Clarson ESQ., from $1,000 $4,000, and OF the koheep
from 5000 to $500, carried almost by accama'oh
The interests off many members will be promoted by the
prosperity of the President The improved business OF the
board and increased means. given for the
movement.
The prices stocks continue to rise with seemingly an
increased impetus Sales of United States 6s at ll6
Kentucky SIS rose Illinois per cent Delaware and
Hudson per cent; Bank oCommerce J; Long Island Il
Mohawk II; Patterson 81; Harlem 81; stonington A.
At the new board United States sold at ll6 Ohio 6's
fell 4.
The Journal of Commerce has again allowed itself to
be the dupeof broker and published misstaement in
relation to Illinois bonds which tended to put class
and put down another class The Journal should know
what publishes then it will not be open to deception
An Illinois paper has the following -
Several fine stocks of spring goods now opening III
this city. advertisements in this paper The staple
articles of these stocks mostly OF domestic manuac
ture Fine American calicoes can be purchased at IS
yard and less which are far better then the Eng
lish article which sold for 37} cents last year. Other
American goods much lower than last year-the Ell
fects OF the wing tariff.
The fact of cheap goods is cheering II is also true
that is the effect of the tariff in degree Its opera
ton by preventing the proceeds of foreign indus
try seeking the west in exchange for its produce so
have had wherewthal to buy anything and the
prices of domestic goods have fallen consequence.
The movement OF Daniel Webster, Esq, in rela
ton TO commercial treaties to have fallen among
parties and party with astounding effect Taking
hold Of the actual position of the two countries OF Eng
land and the United States with strong hand he places
the mutual interests Of all classes of both countries in
strong light, that all old party preudces rent
der and amalg The paltry politicians and party
M To crea
srent classes of mercantile interests in order to each
for individual political ACKNOWLEDGEMENT asonished and
COMPOUNDED. The interest Of all classes interwo
ven and dependant upon the prosperity of each, and the
welfare of the great whole wrapt in the advancing
state of other nations that the clear and satesmanlke
project of Mr. Webster draws in strong reliet pet
ty ntrgues Of political parzans distinct from and
tagens to the real welfare OF the people large The
Courier and Enquirer the organ of that small class
The rising gale of public opinion let loose by Mr. Web
ser has taken it aback" first loudly applau led his
views but when it obtained little clearer view, and OBJ
serving the ruin which would inevitably overake those
fmsy po icians whose hopes are based upon the
of the schemes OF stockholders spectators and their
Dependents changes its direction and endeavors to
make head against the breeze.
In article oyesterday stated that the depar
ture from the navigation act of Britain which stood
changed TOR $50 years the iberay Of international
had been progressive Step by step
and notifications been made by all countries, until
the time has arrived for STEP further stride
wards free trade. One of the vital of the
cal regulations of England is her laws On that
pvots her paper saystem, her debit her arisocracy al
most her national character. At the same time il is an
evil from which she later relieve herself
To avert ruin, it be done only by slow degrees At
the time free trade in is that which is of the
utmost value to this country Under these crcumstan
ces the most that be expected for the present some
modification of the corn laws" another step towards
trade. Mr.. Webster, therefore, stated as foows:-
have not heard "a suggestion from any quarter that
England would be inclined modification of her
laws, properly called mean her duties wheat and
flour.
Probably the great of readers understood this that
from quarter had he heard officially; yet the Courier
on this expression hangs tissue Of what calls argu
ments, to show that -
Mr.. Webster urges, and very many honest and intel
Jigent men who do not stop to reflect upon the mat
ter agree with him. that commercial treaty with Eng
land which shall yield everything and receive
in return nothing would be greatly advantageous the
country.
Mr. Webster proposed that England should lower the
duties cotton tobacco, rice and Indian The
Courier then makes the following extraordinary
statements -
This contend is not offering any equivalent for
what esked. TO yield. In the first place, Cotton
is already admitted at rate Of duty quite low iou
than for the interest Of country that IL should be-
Take off entire duty and Eng land ,coud
pound troid cotton growers receive iarh
ing for their crops Its only effect would be to enable
the English manufacturer to turn out hs cotton goods at
lower rate, and thus compete on better terms with the
American manufacturers of cotton goods
Rice, another product of the SOUTH might possible yield
somecha larger price to the producer if the duty now
imposed upon it in England werereduced but the guam
y which can be grown and the number OF persons
employed in Its culture, of toe lille importance
toss national sacrifice for the benefit to be derived
Tobacco another product Of savelabor used in Eng
land as luxury; and the duties imposed upon
il are exclusively levied for the purposes of If
threeouths of the duty imposed were reduced, is
more than probable that the consumption toouid not be
creased and all events it is quite certain that the price
of the article to consumer woud tall enacy pro-
norton the reduction OF duties that the you'd
not pocket an additional sxpence by the reduction.
we next come to the Tndiaa maizS This too,
staple ofthe Southern States and although grown in
the middle and Western States the South only, from eli
mate and position, grow it for expectation The eli
of the States north of Delaware, render alto
geher too uncertain crop to render its culture
for expectation profitable and its great bulk in proportion
its value orbds the idea of the great West being bene
flied by arrangement such as Mr. Webster suggests
Here is a tissue of statements which would imagine
few would have the hardhood to put forth The duty
cotton seems is too low" for the interests of the Plan
ers What the Courier by saying England would
not consume LESS" ifhe duty taken of, do not
know. 1t is very evident, however that if the English
manufacturer turned out his goods at rate diminished
by the duty the consumption would be and the
improved demand for the materalthus occ asoned
would enhance the prices here the Planters This per
does to know that the great market for cot
ton goods is England The following table from Parli
ameptary returns will show the state of the rade:-
IMPORT Oh Raw CoTror ENGLAND QUANTITY TX.
PoRrrp-QUANTITy f'oNsuMED-YARS ExPoRTED-YARps
OF CLoTH MADE-YARDs EXPORTED YARDS CoNsuM
RRiTAic
Import cotton, 1887 1889 1870
From ) Lbs G065l,1l8 81 5g7I9s 4s7 8'6,tei
Do. other places, 856l3N67 71790,76l loi.63 500
Total lbs. a0f 2s6,f83 S8g,59, 800 800 ,i8800
DO. exported, 39,72O3l 337382B 8b73,229
Total consumed 36s,ii5,0a5 3520G0,277 528, 1919
exported lu5696,ti2 liz i702
Made into cloth, 26i oq9 5g7 1908 1895 52l
Yards made, 7oi 79l 1873 9tl ,5a5 l. 22s,021 500
DO. exported, 53i, 333663 73l,i50. % 100 So .g9i
yard, consumed in Eneld 2e3 5a 7iql,3s2 4S 1876 G3
Yards exported to u 5. I7O5,85 1906 900 320i2OOi
The present duty cotton is per cent, which will
Io,h loAI