The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-05-28
Extract of letter from .Nsrs York, Muv 81.

Tomorrow, the oath instant, books are TO be
opened to subscribers for stock in "the Ocean Steam
Navigation Company" This is an important move
ment, and little doubt is entertained but that the
stock will be speedily taken up.
An extensive shipment Of arms, balls, and shells
with fixed ammunition, took place yesterday from the
Arsenal in this city, destined for the Brazos San
tiago.
An experienced merchant told me to-day, that he
considered the scarcity of vessels advance Of reghts
with the damming up of produce in New Orleans
circumstances IN the course of trade, measurably
or wholly Independent. of the Mexican war. He
says that early in the season, freights at New Or
leans ruled very low, which discouraged shpo wners
from sending their vessels to that point Owing to
the large amounts Of produce held back in the in
terror frelghs continued rather Now reaction
has taken places produce has been pouring in by
wholesale. Vessels have become suddenly scarce
and difficult TO obtain. At last accounts there were
said to be only four square-rigged vessels in port
not taken up and they demanded 81 IS per barrel for
-four, and 81 SO for pork to New York, which prices
are almost unprecedented. From thence to Liver
pool they demand six shings sterling for -four.
AT present. it is said, considerable number of yes.
sells are on their way to New Orleans, which will
have tendency to reduce the price Of freights.
The extraordinary increase in the price Of freights
both in New Orleans and New York, exercises a
very unfavorable influence on commission houses
as well on the growers Of agricultural produce.
A'ohN' N'N NS6ae'1 s'iN 'SSs biOy BCt iOT Wndt
they raise.
The factors in New Orleans have made liberal
advances TO their customers consignments from
the interior.
lift so happens that the produce hand cannot
be sold at a price to cover the liabilities incurred
severe losses may be sustained. Bills have been
drawn in New Orleans against produce shipped to
this city. II, when It reaches here, fails realise
advances with margin sufficient to cover expen-
ses, losses must ensue in this market also.
The embarrassment of merchants who find
themselves in possession of produce which they
cannot sell, or move forward without runous sac
rifces makes It extremely difficult to meet their en-
gagements. And if this state Of things last long,
with the prevailing tightness in the money market
fears entertained that some failures may occur
with the best managed firms at the South But,
many consider this remarkable condition Of our
commercial affairs can only be temporary.
Owing to the prevailing circumstances Of trade
alluded to- we ace that, although cotton advanced
3D. in Liverpool up TO the sailing Of the Britannia,
yet in this market it has declined ID since the re-.
ceipt of her news. Flour wheat, and corn, with
provisions have all fallen of also. BY the effects
of high freights upon the value Of produce, farm
ers can Judge Of the importance Of the commercial
marine to their interest. If commerce had been at
all times properly and steadily encouraged, we
should not now be destitute Of both sailors and ves-
sells While the farmers suffer in the diminished
value Of their products, the government finds much
difficulty in enlsting sailors for naval service.
Understand that the recruiting service opened in
Cherry street in this city proceeds very SLOWLY;
and that the greatest difficulty in fitting out gov
eminent vessel will arise from the scarcity of sea-
men, According the dictum Of some, the labor OF
seamen on the ocean and the toll of farmers on
shore forms no part Of american industry 1t is
work done with spindes and looms alone which
comes under that appellslion, or which constitutes
american industry" and deserves the exclusive
protection of government
| understand the postmaster Of this city contem-
plates running an express mail on Sunday next,
with mail for the Britannia, which sails on Mon
day the 1st proximo.
Ii has been suggested that the government might
do something to protect our vessels engaged in the
merchant service trading to the West Indies and
other foreign ports, by loaning them guns, under
proper guarantees for their safe in good con-
didon, or for their value in money. Some think