The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-01-16
EDITORS coRREsPoNDENcE.
NV YoRE, January Is. 1916.


fore you. The declaration Of the London Times,
that ministers had determined upon the total aboli.
ton of the eorn-laws and the calling of Parliament
together in the first week Of January has taken the
merchants with as much surprise in New York, as
il did in Liverpool Many here also doubt the en-
tire truth Of the revelation Il is supposed an im-
porsnt concession will be made by Sir Robert Peel,
but no total repeal will follow at once The triumph
of free-trade principles in England has resulted from
the oyergrown wealth and influence of the manufac-
turing interest, and that, too, without the aid Of
bounties and protective laws.
There has been more wealth concentrated within
the last half century in the county Of Lancashire,
lin which are Liverpool and Manchester than IN
all the rest of England put together.
The wealthy manufacturer in this country, and
the wealthy landlord in England, actuated pre-
esely by the same selfish principles. Here, agreul-
ture seeks no exclusive bountes or protection while
in England, the land being in the hands of the few,
upon whom IL 10 entsiled they have made bread dear
To add TO their wealth Here, manufacturers seek
to make goods dear, that they may grow rich at the
expense Of otheTS. One principle GHuiaiss both. In
England the manufacturers, by the aid OF useful IN
yentions, have, without any protection bounlies,
grown up to be powerful and wealthy class. Tie
cotton ords" were first laughed al by the old regime,
but by their wealth. in country where wealth hegets
rank more than in any other, these neU torh soon
began to swallow up the old. They became the
owners of castles and country seats, well as Of
mills and railroads. From this class rose Sir Rob-
st Peel, the son of ealieo-Printer. With tory
professions and pisbsian sympais' he has succeeded
in obeying the wishes aud fulfilling the desires of
the nsp uisioeraey Of looms and PindisS, who want
cheap bread, by which they can the better COM
pete in their business with foreign manufaotu-
rers and grow all the richer thereby. As to the
poor down-trodden mass, chap or high bread
makes little difference. Their overplus of la
Dor for the demand makes their state Of un.
changed and unchangng misery. The evils Of this
class lie beyond the laws Of free trade-being deep
ly rooted in the social evils Of aScienl govern
nient adjustable to modern exgencies.
II manufacturing class aided by Inventions has
oyerthrown the power OF the greatest mOneyed ans
tocracy in the world by It's superior wealth aud az
tiyty without protection, what cannot our manu-.
hctur,ers do with protection Il requires no pro-
pnecy TO see, IL protection be continued many
years longer that we shall build up Hri5locracy
in this country that future ages will be unable to
control. Legislation, banks commerce, and agrI-
culture, will all be forced to succumb before Ito M
auenee.
At the present time, the "drygood jobbtrs" (os
they are oddly caled) in this City-that class of
useful merchants in New York who sell directly to
the country merchants IN wholesale way-aTe
duced TO the condition Of mere shopmen for eastern
"ioom, aud slindies'--being placed, IN the sale of
prints and other articles, entirely at their mercy;
which, however, SERVES them right" they, with
= strange infatuaton, lent their influence IN pro-
duoing the vassaage Of which they now complain.
As the Orford only brought two days later news,
the commercial information was not very important,
beyond the simple fact announced. The money
market appeared easier than what expected.
Consols for cash sold al 94a 945; and the reduced
three per cents at 93 and the hree-and quarter ut
95l. Exchequer bills had advanced from ~ to lG,
and bank stock was sold at l02. Flour had declined
Is Cor IS cents) per barrel; and wheat barley, corn
&C., had declined fully from to cents per buslci
If 70 pounds. Cotton remained at the same quota
tons brought by the steamer, but more was doing.
The report Of the opening Of the ports to corn had
caused more demand for cotton. The foIloWr;
were the sales of the week: ls0 ,eo STAND, (Cco,-
gia IL I'D; ~ stained, do do, $3.50, uPdu
bowed, 81 SID; l0,2S0 New Or.C..ns, 3, 7!d;
4540, Mobile, 81 a 4Id.
The panic of Is45 is said to have passed by. Tho
papers make no alusion to the Oregon question,
but in one or two instances express belief in tLa
continuance Of peace between England and other
nations
O'Clock, p. m.-The news by the Oxford was not
fully confded in by the merchants on Change to-
Liverpool on the 9Th, with two days later news,
was reported off South Hampton, Long Island by
the mate Of the Oxford, who landed on the island
and came to the city by railroad she must
be here tomorrow, If not sooner. Merchants
seemed disnclined to operate till her news
could be received. Some seem TO think the news
of opening the British ports to grain is The revival
of an old rumor, put forth for stock-jobblng pur-
poses. Fresh advices, confrmaory or in denial
of the Times report will be looked for with great
harr unu al tn iov
IS IS. Holders, however, exhibited greater FIRM
ness, and seemed inclined to advance their rates.
which were not acceded to by shippers. Gcncsoc
wheat quiet at from 81 Is to 81 25 offered, and at
81 % to 81 30 asked. New white southern corn,
beautiful article, was offered at 10 cents; sales Of
some, not quite so good, at 6S cents
1000 bales of cotton sold to-day at decline OF
about cent below previous quotations Some
think the decline on some qualities equal TO / cent
per Id.
Nothing doing in western provisions of any
sequence. The market to-day, however was
frmer, at previous quotations.
Sales of southwest whalebone made at 81.
Whale and sperm oils are BETTER with disposition
to advance.
Sugar, molasscs, rice, &c, quiet, with moderate
sales.
Stocks were frmer to-day. Reading Railroad adj
vanced J.. There a better feeling prevalent
generally. No decision made yet in reference to
the Erie corner.
The steamer Acadia arrived at Halifax in As
hours from Boston; took on 90 additional passcn.
gers and proceeded to sea.
A new ship, called the Niagara, Of 100 tons, is
nearly loaded for Liverpool She IS a fine vessc',
and belongs to Messrs. Staunon & Frost. She
carries out large lot Of flour, &c.
A letter from St. Thomas (says the Commercially
reports provisions at that place high and scarce.
On Saturday, it is said, the telegraph will be put
in operation from Philadelphia to Newark, New
Jersey.
Freights to Liverpool still remain at 2s ed. for
-four, and 3-l6d. for cotton.
Foreign exchange dull tendency downwerds;
on London 8! 81; little doing. Nothing fnrth-
err but remain yours truly,
MORGAN.
STOCKS.
s.L,s--Nsp York Jan l5 isi6-TYra boord-Is 800 T. $.
IS 1862 1861; 5000 Ohio 6s 1860 Oil 5000 do gf l0no
Kentucky 6s 1871 e7t 5000 Ohio S. 1850 ~ 900 Ohio