The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-08-20

Mails made up at the OIllce.
The Foreign News-Sett ement OF the SUI
gnr Duties-NIore Free Trade-COmmer-
ciaI systems OF Great Britain and the
United states.
By the arrival of the steamship Caledonia at
Boston, from Liverpool, we have ten days later
intelligence from all parts Of Europe. The news
is rather interesting, as we learn by this arri-
val that the new Cabinet have passed the ordeal
of the sugar duties, and are, therefore, compare
lively safe in their new position. 1t appears that
Sir Robert Peel aided the new ministry, and gave
them the benefit of his personal popularity, and
no doubt his counsel and advice in framing the
bill, that it would meet the views Of majority
in the lower house.
The settlement of this sugar question, and the
progress towards free trade made by the basis
upon which the duties upon that important arti-
Gle now rests, have had good effect upon the
markets generally, and tended 10 create more
confidence in commercial affairs. Capital has,
therefore, been more abundant and there APP
peared to be more disposition to employ it in
mercantile pur. suits than usual This is indica-
tive of more favorable times, soon as the other
political questions of any importance, under con-
sderaton, are disposed Of The adjournment Of
Parliament will put at rest all the matters likely
to affect commercial matters, when we may look
for some real improvement in the money market
and in business generally.
Great Britain and the United States are some
what similarly situated in relation to their COM
mercial systems. Within the past six months
great and important changes have been made in
each; and there is very great doubt in the minds
Of the commercial classes, as to the operation of
the new systems, and until something more Is
known them, they will be very cautious in their
movements. There has been a greater revolution
in the commercial system Of the United States
than in that of Great Britain and the alterations
made in our tariff laws go into effect much quick
than those Of Great Britain. What we do in
rsonths, the ministry of England require years to
perfect very gradual change is made in the
commercial policy of England, while the most
abrupt and sudden changes made in the COM
mercal policy Of the United States upon the most
unreasonable data, and merely as an expert
ment, and more in accordance with party princi-
pies, than in accordance with the best interests Of
the country. Party expedency required the al
terations made in tariff, while the real in
terests the masses was looked to in tho altera-
lions made in the tariff Of Great Britain. The first
is an experiment and the second, the result of
necessity and experience.
We have opened markets for the manufactures
Of Great Britain, without receiving any guaranty
that we shall find additional markets for our pro-
ducts. 1t is true that we placed upon the same
footing as other nations and can enter our agr-
cultural products favorably any others, but it
does not follow that we to be benefited in any
way by that, as it is only under peculiar circum-
stances that we can compete successfully with
other grain growing countries. We cannot, there
fore, resist the impression, that the changes
which have been made in the tariffs of both coun
tries, will operate more to the advancement of the
principal interests of England, than to the pros
perity of any domestic interest of the United
States.
While the new tariff of this country will ope-
rate more ndvantageousy to Great Britain, than
the new English tariff will for the United States,
we have no evidence that our tariff will tend to
any improvement of our own interests. We are
existing under new order of things, or in ether
words have at present no commercial system
at all. We are hanging between two systems,
one we must soon drop, and the other we must
adopt; and it is pretty difficult to keep the
wheels of commerce going The only sure way
to keep clear of the difficulties these changes
threaten to produce, would be to come to stand
still at once, and wait the course of events
-SWe have not even the probability of a deficient
harvest in Great Britain, to console us. There is
at present no prospect OF any additional outlet for
our immense surplus of agricultural products
and there is every evidence of large importation
of foreign merchandise without corresponding
expectation OF our own produce in payment
There appears to be a complete arrangement Of
commercial matters, and there is no health in us.
This can be principally attributed to the effect of
the new commercial systems Of both countries,
upon trade, even in anticipation of their opera
ton; and until things become pc rmanenty set
tied upon the new basis, we cannot expect any
very great activity; or any important movements
in the commercial world.