The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-04-22
The Latest Commercial Intelllgenoe.
[From the Liverpool Times, April

The Latest Commercial Intelligence.
From the Liverpool Times, April I
The commercial accounts from all parts of the
country are Responding and gloomy. With the soli-
ary exception Of the iron trade, IN which great &C.
tivty prevails, owing to temporary causes there is
not branch OF manufacturing industry which not
suffering more or less under paralysis In many Of
workmen out Of employment; the markets for all
descriptions OF produce are in state OF stagnaton;
stocks are daily on the increase, with sinking prices
and diminishing consumption; and, IN short,
condition of things exists which threatens 10 suspend
all the ordinary functions Of commercial and manu-
featuring industry.
II is hardly necessary TO state that this depression,
which every week renders more Calling and ruinous,
has its primary origin in the uncertainty which still
hangs about the fate Of the tariff Other causes I'M
doubleday, contribute to fetter the wheels oil trade,
but the great impeachment is the one at which we
have glanced. panic appears TO be Impending
The dependency Is daily on lhe Increase and
many persons In business, influenced probably by
their FEARS labor under the impression that the n,ea
sure will yet be stranged in one or the other House
OF Parliament. SOpotent Is this prestige OF evil,
that Sir Robert Peel, on the evening Of Wednesday
last tell bound to renew the assurance of his desire
te carry out his commercial policy with the least
possible delay. We have alluded more in detail TO
the shbjett iuanolher column, and we notice It here
for the purpose OF Indicating what we sincerely be.
heye TO be grCundless apprehension, and 10 point
out, al the same time, its bhghting effect ON every
description OF business.
III order to give as much freedom as possible to
the operations Of the commercial world, under ex-
readers know, issued recently treasury order for
the payment OF the reduced duties, the parties Civ
ing bond that if the peers throw out the BILL the
old scale Of duties would be paid. This was wise
vantage to some extent has been taken of it. But
the risk involved has been too great to allow it's ge
neral adoption. The public have derived little or
NO benefit from the arrangement; for the induce.
acodp haoyp vod
by the retail price OF the various articles being little
below their former level. Indeed, all such tempo
rary ex~dients partake of the character OF gam
bling--spe cnation If, perhaps, more legitimate
phrase. For the risk encountered, the profits must
be correspondingly heavy.
The gloom which hangs over business has been
gradually deepening during the last six weeks-the
last fortnight being the darkest OF ALL Under the
most favorable circumstance, there seems little
chance of seeing the new tariff on the statute book
before the end OF May and il will be at least the
middle OF that month before the critical stage-the
second reading-can have passed the upper branch OF
the Legislature. II, unhappily, the measure should
be thrown out, the summer will be consumed in the
turmoil OF general election, and autumn will hardly
see the new parliament assembled. Then the war OF
words will recommends, embittered by disaRpolntd
hopes and individual suffering and even supposlng
the free traders to have majority, their policy can
not into play before the end Of the present or
the commencement of the following year. But if,
on the contrary, protecuonsf ministry IS formed,
and attempts to govern the country, the battle will
be still further prolonged, and the intensity OF com.
mercai and national suffering fearfuly increased
While we hope for the best, Just well to glance
at the dsrks. the worst SIDE Of the picture ana ms
derlng at the teeriy, be party to convulsng this
great commercial nation by struggle SO intense,
that all the elements OF society would stand chance
OF being reduced to their chaotic condition The
stoutest heart may stand appalled,, when it contem
plates the consequences which must inevitably re-
suit from the rejection of policy, to which every
man in the kingdom, who has the least pretensions
10 the character of practical statesman, is irrevo-
ca5iy welded; policy which is opposed solely by
the heavy country squlres; by sporting lord or TWO,
whose knowledge OF arithmetic is confined to
s'making book" at Newmarket and EPSON; and
by fashy orator, clever at rounding period, and
manufacturing excitable works Of fiction. whose
dreamy enthusiasm scorns all approach to the prac-
teal
AT Leeds, on Tuesday, the protracted stagnation
caused prices to give ways but in that town. as well
pally supported by orders from America AT the last
Manchester market there was little doing, and a
feeling OF gloom prevailed during the day, influenced
by the hostile movements OF the minority In the
House of Commons TO the freetrade measures OF the
government.
The cotton market, more especially, is laboring
under the effects OF the general depression. The est
mates OF the new crop are now reduced to two mil
lions OF bales; and yen The face OF this falling on in
the staple, the price continues low, that the rates
which rule in this market involve loss Of not less
than 20s per bale, on comparison with the
prices which prevail iu America! The statistics OF
the trade show gradual decline In the sales since
the measures of the government were announced,
and trade will certainly not recover its tone until all
doubt has disappeared. Capital, like the sensitive
plant sI a from contact while uisslta,aty ls
cotton, are destined like other branches 81 the COM
mercIal world, to feel and to depore the curse OF
selfish obstruction. The sales yesterday were up
wards of 500 bags to the trade. There has been
tpo hfh raYlta frIO I'D alv
The sales OF the week amount to 81, CsD bags.
The money market Is IN very unsatisfactory
state Cash is scarce and dear, and nothing sut irs
rate paper, and that at short dates stand the least
chance Of discount in the London market The rail-
way projectors get their acts slowly and unsatsiac
tory, and il is clear that large number OF the
schemes before Parliament must be rejected
Months will elapse before the money which the 90
amount of the capitalize find lis way into general
circulation, and thereby relieve the "tighmess
which prevails. The effects Of iInproyident specu-
lation continue to manifest themselves the pleho
IA Of the Gazette, where the broken-down seekers
Of fortune find ready asylum In time, the paying
schemes will find their way into better hanos, and
while the weak holders 60 to the wall, the strong
will rise to wealth and greatness on the wreck
Of ruined hopes and blIghted hearts. Thus it has
ever been-thus it will ever be But the interval,
which IS bringing matters to Their natural level, is
one of terrible pressure What has been well said
OF partypoIlilcs is equally applicable to indiscrimi
of a few. %st
An important trial took place at Exeter lately, in
which the directors OF projected railway brought
an action against a rarty to whom, on his own up
pllcauop, they tad allotted number OF shares. The
aottee refused to take up the shares pay the orr
ginGi DEPOSIT, when amounted to some E2 or ~
per share. As the company had contracted en-
gagemens, they offered to compromise the affair on
payment OF Is. per snare. The party refused, the
action was brought, and the jury gave the directors
verdict for the Iull amount Of the shares. This
decision has spread universal CONSERVATION, Tor
thousands upon thousands OF parties, suspended be.
respectabiliiy and rum, in the position OF
the defendant in this action. Like rats IN cage,
they are preying upon and Cevouring each other.
We have more than once recently referred to the
popularity which Indian com an article oil food,
10 attaining in this county twill prove, ere long,
a valuable export. The Government is most anxious
that should supersede 10 great extent the potato
amongst the aboring poor, and the recent scarcity
OF that esculent is favorable to its introduction.
CaTgoes of Indian corn are daily reaching the Bri.