The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-04-11

belonging 10 the association All lhe rest are either
retired capitalists OF shipping merchants ship-own-
ers, ship and steamboat builders dc, and practical
men who know what they are about. Calling il a
WaIl street eoseern" rs ridiculous cant. Whenever
any enterprise Is undertaken, IL single man con-
neeted with II is seen IN Wall street, the Wall
street, hue and cry 10 set up, 10 cast odiun upon the
scheme. This Wall street cyy--which had its origin
In the quarrels of newspapers--is now a shallow
device to serve tho place Of Argument As the mer-
chants exchange, with nearly all the banks, and
many Of The heaviest shipping, agents, and houses
are in Wall street. il Is natural that il should be the
centre OF business; but il does not follow that every
man doing business In the street. OF seen passing
through Il n necessarily rogue.
It's a mistake, when papers and opponents assert
that tho Ocean Steam Company have made no
movement | have seen several beautiful models
for the huls of the steamers made by our most en-
inent shp-buildens, also plans Of steam engines,
boilers, estimates, &c. have passed through the
Novelty and Secords q Cos works, where the
gines are TO be built, and where bed plates and all
heavy iron work will Do cast.
The only difficulty has been 10 decide in favor Of
models and proposals. offered by different ship
builders, with soms dslay Ia waiting the hns action
OF the legislature. There b no need Of hauling tim
Der out for the purpose Our ship-ysrds are already
supplied with plenty Of timber. When the legsla-
ture has acted down viii 60 tho kees, and up will
noble enterprises LIKE this. To oppose the building
OF line Of stoam-ships 10 run between New York
and Europe would be acting the part Of vandalism.
II the steamers were " run direct 10 England, the
English postage Of ID. for ship letters would have to
DO added 10 The Assrican possAgs Of IS cents EACH
which would make lstsss By the American line cost
about Al cents, while the Csnsrd steamers charge
only IS cents.
In the name Of all thai 10 Just, the parties who
are 50 much afraid the "ocsan Steam Navigation
Cowes and Bremen, bat might do 20 by running To
Liverpool, Why do they not turn in and start line
Of their own 10 Liverpool, and obtain many char
tiers they want from the legislature, with ind-
vdual liability The ocean Steam Navigation
Company" nor the people, take my word for it.
will ever oppose them. IL u 70 be lamented, that
Just at the time capitalists regainng confidence
in Atlantic steam navigation, and arc about engag-
ing IN the building OF steamers, In the execution OF
which the country at large is interested men will
be found reckless enough 70 sbuss oppose and mis-
represent the whole affair.
Since writing the foregoing, ! have seen the
Globe of this morning, which, Il would seem to me,
e not entirely fair towards the Postmaster General.
The mere fact thar Mr.. Sloo desired the govern
ment, In his proposals, TO advance half million Of
dollars, with which TO build steamers, would seem
to have been fatal objection. Mr.. Millss assoeia-
with their own means, and TO make twenty
four trips year, while Mr.. Soo only proposed to
make twenty; making a difference Of q, 500 trip
in favor Of Mills's bid.
| may find time to .allude bray to this subject
again.
.Nsw York MARKET, this day, II p. m.-The panic
in Wall street still continues. Stocks again declined
to-day-especially railroad bonds.
The produce market was quiet to-day. The
Northumberland's news made sellers Of -four little
more firm, who generally asked IS 43' for Gene
see, while heard Of no offers above s. 37I. No
sales of consequence TO report White southern
corn war held at 50 cents, weight; and New jersey
yellow at Tets
Rye, common, was offered at74a75. And good
North river at II 70 cents.
Whiskey in barrels sells at - cents.
Provisions, 1000 barrels mess pork sold, since
last report, 81 co. and 800 prime ditto at 50 81.
From 300 to 400 bales Of cotton sold. Market
remains very firm.
No change of importance to note in other arti-
cles.
Sterling bills arc inactive atsi a 10. No change
on the continent. 4-.-..
Flour to Liverpool is taken at Is. a I'D Cotton
nominal. Very little offering.
No change in freights TO Havre.
Yours, very truly,
...... MORGAN,