The daily union., 1846-04-29
EDITORS CORRESPONDENCE.
lFrom our regular eorsspODdsntI

/
New Yssx, April %, 1876
9ripsro) the Gtss Wsssyu, ,sh sir days later
-Considsrsd JavosabLs 10 hsds and commerce I'D
Uones Of Id pey H. IN eetfew and ls per quarter IN
Indian corn WAsai 6ymsr.-- Flour wiihoa mate
rial ohsxss received nom the Uniied States,
pia Hsprs considered pacific Troubles ,oih the Ka-
frs.--Copper miaes In .9sstr raha.--Prsyr Of he
church for victories IN fsdia.- Letter from Liropooi
Cotton crop bsxsa 10 be thought short IN nssi mar
kst, 10 about 360, 600 bales. Pressure in money pre-
psaisd - Corresponding adssncs. branch nfini IN
.NsV York, much more important than any sgeney
tohaispu.-h peuid ACT as a~ unpoyfani auxiliary 10
the subtrsas,uy at poini phsye the principal rers-
nue. Is collected The Grea Western brought l25
passsnges.-City market, &c.
The Great Western was telegraphed to-day,
about II o'clock, and reached the city at about half
past one. .. .... ..
Her news is before you, and knowing the demand
for your columns on such occasions, ! shall make
my letter brief as possible.
The commercial news is considered favorable.
Cotton had advanced about d. per ID. Indian corn
had also advanced Is per quarter, and was coming
into more general use. Wheat was sons frmer,
but hour had not materially changed since the news
per Caledonia.
II is said the Messrs. Rothschild have engaged
extensively in tobacco speculatons The English
securities had also improved.
Prayers were TO be offered up in all the Anglican
churches throughout Great Britain for the success Of
English arms in India. The London Standard of
the 10Th speaks Of late news from the Cape of Good
Hope, as indicative Of war between the English and
kahrs. Rich copper minss had been discovered io
South Australia, and were in the way Of being
worked.
The last adviees received from this country were
per packet ship Haue, al Havre, having sailed from
New York on the 18th March. The news was con-
s,dsred avonbe To the preservation Of peace. An
able article in the QuANsry Review expresses an
opinion IN favor Of settling the Oregon question on
the 18th parallel Of latitude.
submit the following letter from my friend and
| correspondent in Liverpool:
O.. aLvrnroeL, April ii, 1876.
"DrAk sR Since addressed you per steamer of
the 4th, have no later adviees from you, but in a
couple Of days we may look for the Boston steamer
Of the LIST inst. On the 9th the independence ar
nyed from your port with adyices Of the 9th ultimo,
and the same evening we received accounts via
HaUe Of the 18th ult., which do not appear TO be
OF much interest, except TO cotton holders, as It
would appear that the comparative receipts into the
port continue 10 fall of-the deficiency being up 10
the 18th ult, 356, 900 bales. Surely this ought To
have some influence our market. Indeed, under
ordinary circumstances, we might look for some ma
teria advance but we still laborng under pres-
| sure for money consequent on railway deposIes
and speculations, and delay in passing the tariff,
which has been in,erfered with by the Introduction
into the Commons from the Lords OF the Irish CO.
ercion bill, and another interruption, by Parliament
being adjourned for the Easter holydays. Some
measure is contemplated by government 10 facilitate
the dissolution or winding up Of many wild railway
schemes, which viii liberate good amount Of Cap-
tai. The West India mail is Just in with two mil
lions Of dollars from Mexico and two millions more
on the way from the west coast. Business is rather
| improving in Manchester, and we have had rather
more demand for cotton. Sales Of the week, or
rather five days, (good Friday intervening) are 30-
600 bales, with an advance during the fortnight, Of
ID. per ID. Our stock is getting below that Of last
year, and they have scarcely any cotton on the con-
tinent. Our spinners are but moderately stocked.
We have had much wet weather Of late which has
rally is in advanced state. We have had another
heavy failure here--Messrs. Carne a. Telo, IN the
Russian, Spanish, Mediterranean, American, &c,
uades-to the extent of <l80,000. Yesterday was
hoyday, and to-day too early to report about mar
kets Of the day. The Oregon question is considered
per last So that all the bluster in Con-
gress will perhaps subsde. Yours, truly.
"Corn market no ehange-nor tobacco"
I differ with your private correspondent in refer
ence to the establishment Of ga mint agency" in New
York, in preference to a mint itself The coinage
of money would by no means form the most ir1por-
ant function Of such an institution. II would be-
come important auxiliary to the sub.treasury, by
having the confidence Of merchants and business
men, many Of whom would prefer il as place OF
deposte to the banks-not 90 much as to have specie
recnined, hut as place q security. where their
money could remain till called for, and certificates
Of deposte used in its place in business transac-
tions. ooA branch mint would be more responsible
in It's character than any sort of agency that could
be formed If government were to undertake the
transportation Of specie TO and from Philadelphia at
its own risk, free of charge to the merchants the
measure would not gain their confidence. They
would send II by their own confidential agents, at
present; bearing, as they would, il government
agent lost the money, the delay and inconvenience
resulting to their business, which would more than
counterbaance the expense of present transportation
and Insurance. Besides, were they to ose by neglect
of government travelling porter, they might have
to wait upon session Of Congress before reganing
their funds '" " '1
As far as agency is concerned, in point of busi
ness, the chief mint ought to be located in New
York, and the "mnt agency" in Philadelphia. A
mint in New York would do more business, proba-
bly; than al the other mints and branches put to-
gether; and when also made to aid the government
in the collection safe-keeping, and disbursement
of public moneys" at the point where the greatest
amount of revenue il collected, its services would
become invaluable. go
The news Of the Great Western reaching the city
too late for merchants to profit by their advices
change, very little business was transacted. Cen
-four held at about yesterdays quotations,
IS l2i, while IS was offered.
The sales of cotton yesterday amounted to 1000
bales. To-day have heard Of no sales worth re-
porting. w. Ia-a. ...
Mess pork sells at $40 so rs. No change in
prime or other provisions.
Northern rye sold to-day Il 200 bushels) at 6Sc.
Jersey corn was held at 7Oc, measure; southern at
81, weight.
Sterling bills remained firm at 81 a 10. No change
on continental ports. ...
The Great Western brought out l25 passengers,
and full freight of goods. l. -. -.
....,, Yours, truly.
....4...,,.. g. hg. MORGAN.