American Republican and Baltimore daily clipper. [volume] (Baltimore, Md.) 1844-1846, 1846-04-22

tie below their former level Indeed, all such
temporary eXpedients partake of the character
OF gambling speculation is perhaps, a 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 Ia
rift on the statute book before the end of May;
and it will be at least the middle of that month
before the critical stage-the second reading
can have passed the upper branch of the Legis-
lature. If, unhappiIy, the measure should be
thrown out, the summer will be consumed in
the turmoil of a general election, and autumn
will hardly soc the new parliament assembled.
| Then the war of words will recommcnce, en-
FILTERED by disappointed hopes and individual
suffering; and even supposing the free traders
to have ma jofity, their policy cannot come
into play before the end Of the present or the
commencement of the following year. But if,
on the contrary,a protoctionist ministry is for
med, and attempts to govern the country, the
battle will be still further prolonged, and the
intensity Of commercial and national suffering
ieariulIy increased, While we hope for the
best it is Just as well to glance at the dark
at the worst side Of the picture; and his must
indeed be bold heart that can, without shud-
dering at tho temerity. be n party to convulsing
this great commercial nation by n struggle so
intense, that all the elements Of society would
stand chance of being reduced to their chaot-
&c condition The stoutest heart may stand
appalled,, when it COntempates the consequen-
ces which must inevitably result from the re-
lection of policy, to which every man in the
kingdom, who has the least pretensions to the
character of practical statesman, is trevoca-
bly, welded; a policy which is opposed solely
by the heavy country squires; by sporting
lord or two, whose knowledge of arithmetic is
confined to "making book" at Newmarket
and EPSON, and by fash orator, clever at
rounding peri d, and manufacturing excta-
Bile works of fiction, whose dreamy enthusiasm
scorns all approach to the practical.
At Leeds, on Tuesday, the protracted stagt
nation caused prices to give way; but in that
town, as we'll as in Hudderfield, the trade, at
present, is principally supported by orders
from America. At the last Manchester mar
ket, 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 free trade measures
of the government.
The cotton market, more especially, is la |
SION The estimates of the new crop are now
reduced to two millions of bales; and yet, in |
the face of this falling off in the staple, the
price continues so low, that the rates which
rule in this market involve loss Of not less
than eos per bale, on comparison with the
prices winch prevail in America. The Stats
tics 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 disappear
ed Capital, like the sensitive plant, shrinks
from contact while uncertainty is abroad and
the holders, as we'll as the importers of cotton,
arc destined like other branches of the COM
mercal world, to feel and to deplore the curse
fselfobstructon. The sales yesterday were
upwards of 500 bags to the trade. There has /
been some export inquiry; but the market clos
ed tamely. The sales of the week amount to
36 030 bags.
The money market is in a very unsatisfacto-
ny state. Cash is scarce and dear, and nothing !
but first rate paper, and that at the shortest
dates, stand the least chance Of discount in the |
London market. The railway projectors get
their acts slowly and unsatisfactory, and it is .
clear that large number of the schemes before
Parliament must be rejected. Months will c.
lapse before the money which the government
Of the capital-can find its way into general .
circulation, and thereby relieve the 'tghtness'
which prevails.
We have moro than once recently referred .
TO the popularity which Indian Corn, as an ar
tclerof food, is attaining in this country. 1t
will prove, ere long, valuable export. The
Government is most anxious that it should su-
perscde to a great extent the potato amongst .
the aboring poor, and the recent scarcity of
that esculent is favorable to its introduction
Cargoes of Indian Corn are daily reaching the .
British ports from the u. States, and large .
quantities have been released from bond, duty .
free, under a Treasury order, Shops for its
exclusive retail sale are being opened in many
OF the large towns, and the American mode of
using it is generally adopted.
The Corn market, pending the discussions of
the government scheme is, like all the pro-
duce markets, in a complete state Of stagua-
ton. Prices vary but little, and parties mere
ly purchase from hand to mouth to satisfy their
immediate requirements. The general belief
is, that ifthe measure is passed the article will
rise Ill value, bat to this doctrine there are, OF
coulse, some dissentions. Lord G.. Bentinck
pressed Sir r. Peel, some time ago, to fix the
price of Germ under the operation of his new
scheme, but the speculations OF the Premier,
on this head, having been flashed by facts, he
was naturally unwilling to commit himselfby
another guess. But what the Minister declin-
cd to do has been done by an authority which
stands high in the estimation of the agricutu-
rists. That authority is the Mark Lane Express.
The publication to which we refer declares en-
phatically, that under the new arrangement
the price of corn will osciate between 45s and
ASS per quarter. Without entering into the mi
nuti@ of the question, we may observe, that if
this calculation prove accurate, it will leave an
ample margin for the profit of the U. s. and
Canadian exporters. But the British farmers
are getting up the steam in the race of compe-
titlon, and every improvement in tilling,
drniI nr.I Of