New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-07-07
Monetary and Commercial Affairs In Great
Britain.

Foreign Correspondence OF The Tribune
LONDON, June IL, lS47.
The most important news which you will receive
by the steamer Caedonias mail relates 10 the Corn
and Cotton markets. The Political Intelligence IS
not important.
II is believed here that the American papers
have gwen too favorable accounts Of the quantity oil
bresds,ufis which will be shipped TO England tisno"
thought that very srge proportion Of the stocks will be
required for consumption In the Atlantic cities snd con
sequeny that the bulk of the products from the West
ern country will be intercepted for domestic use The
effect Of high prices in Europe says one Journal has
been TO render bresdstu. priced as in Europe
therefore the growers the agricultural States OF Amer
lea have the choice upon equal terms both Of home and
foreign markets with demand equally for each.
The Corn Markets OF England just now subject to
sudden fluctuations and 4, is impossible for the shre"d
est dealer TO foree what may be the state of the mar
ket one week ahead There has been rise in prices 10
the extent of some eight to shDgs and fall 10 the
same extent since the last steamer departed The mar
kt. will be liable to such fluctuations for spectators are
Influenced by the weather aud the foreign supplies It
ia however believed here that America csnno, send any
thing like the quantities Of Bresdstus TO England that
the papers stated she would be able 10 send beside which
the stock are low In this country and the weather has
lately been cold and wet Referring 10 the recent de-
cline of prices and the causes which led it the Man
okester Guardian Of the 10Th -" We feel compelled
10 admit there is not the face Of these facts good
aud satisfactory ground for hst decline it will be three
mon,hs before our crops will be svssbe for con.
sumption and we think il doubtful II present stocks
in hand and the quantity which likely 10 import
during that period will suffice TO satisfy the great con
sumption which is now thrown on bread. owing 10 the
extreme scarcity and high price Of all other kinds of
food
The Bank Of England has lately been liberal in
ts discounts short dated bills have been taken at per
cent The tradespeople however find it very difficult
10 obtain money except upon the usurious terms
Il is generally believed th4t money will be scarce for
some time to come This belief Is founded upon the
fact that the exports from England continue to be very
small Of British goods while the imports unusually
large especially from the United States 1t 10 stated
that the steamer Washia90l brought very few orders
for British goods and the Manchester aud other provn
ca papers make the remark respecting the orders
received by the BrfGnnia.
Referring to the late crisis In the monetary and com
mercia sairs Of England, the Morning Hrad observes
that Under the combined operations Of Tariff
which directly encourages the influx of foreign manu-
factures--of a monetary law which restricts our crcu
lsuon and makes it depend upon metallic bssis-of
statutes which have the broad effect Of neutrsizing
credit and of lowering the value of real property
throughout the empire-we forced into position
and landed In crisis from which II seems impossible 20
escape"
Ga the 9th inst the Gladiator. Capt Bunting left the
London Docks with 300 German emigrants mostly small
farmers snd aborers.
No news of the least interest has reached the com
mercisl rooms in the city mp To post hour.
Your most Obedent servant. z.