The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-11-11

In the lapse of four weeks it appears mills stop
ped and 1857 hands turned of employ the approach
Of winter and food dear In the other districts the
general state OF things existed, and the chief
'otn discredt making it impossible procure money.
Many in the possession of orders could
hem; while the sale of goods diminished, because of
he reluctance of dealers part with them, except for
ASH The consumption of cotton the of 22 900
ales week against 81 900 bales last yeaa reduction
If 30 per cent
The leading points continued adverse state OF the
Exchanges, in spite of the stringency of the Market the
continued rnness Of breadstus, and the increasing de-
hands Of railways for money The imports of grain into
England continued very large Notwithstanding the rnors
good crops and the general discred which prevents
merchants of other countries from consignng English
merchants delivering cargo until the freighs are
oaid before breaking bulk The demands of the railways are
equal to 5.00OOOO per week, and enforced under the
penalty of the forfeiture OF preceding payments on
which interest is allowed The companies also issue
lebentures to contractors the roads, who borrow
money on them at any price, being made good by the
companies BY these means employed num-
bers of people. To stop the lines, will throw them
employ; to continue the lines, will be, in the
OF the Manchester mills, to throw hands otherwise
occupied out of employ This alternative threatens seriously
for the public peace stated however that the lead
ing railways taking measures to suspend their works
The London and Northwestern railway, the capital Of
which is E20 000 (ay 800 O0o has issued
culas the companies with which it is connected urging
cessation of operations for the present This is almost
the only favorable sign yet apparent except what may be
from the OF the
October TO- which showed decline of 81 285 S57 the
corresponding quarter othe previous year. OF this E37
9l cnstoms probably owing to the fact that corn,
which paid duties last year, is free this There
ucton of $50 in the excise; showing reduction of
is per cent the consumption OF those goods charged
With duties. In far the difficulties grew out of the
consumption of capital in of its production this de-
is favorable. 1t is possible however that this de-
has taken place among those employed in raising
food and producing goods rather than among those build
ing railroads, and may therefore be unavorabe The
uction in the is however, very serious and
mainly aided in sinking exchequer bills having months to
to 33s discount equal toS per cent per annum These
bear daily interest," and receivable for gov
dues until after year hence the great discount
hey sell Probably when due they will be funded in
nanent stock The bank had shown desire aid
interests while it has steadily dscountenanced all kinds
paper connected with railroads was stated that Messs
Lttledae Co., brokers of Liverpool who held
produce bills (mosy cotton and sugar. to the extent Of
E9OO OOO had received from the Bank of England loan
E3O0 900 consos be returned in three months These
sold in the market for and probably aided in
that depression which had sunk consos to 79i per
The great dimnuton in the manufacture of goods holds out
the prospect an enlarged demand when the difficulties
shall have passed 1t does appear that that will speedily
be the II the railways suspend for the moment 1t
will only be to them with greater vigor the moment
the money market is relaxed 1t is to be earnestly hoped,
however, that for United States interests in af
fairs will take place little relief in the market would
doubtless great rise in prices particularly of cotton
breadstus BY what relief be brought
about, it is difficult oresee The markets of Europe are
Ill dsordered by the distress in England In all the leading
Cities merchants appehensive OF return bills from Lon
lon and all hold cash balances to any such
emergency This produces tghness of the
while the French government is demanding loan of
$50 900 OOO for which it give liberal terms. The
Bavaan government also $5 0000 600 for railways,
| md from the United States England will get aid
The uhng Of specie that have gone forward must
in greater magnitude IT. through discredit bills
offering against produce sold their proceeds will be
ordered home in specie At New Orleans already sterling
duh at 81 per cent? which they available
| for the import of specie.
The imports of goods for the first five days of November
large compared with last year. the number OF
packets having arrived The dutabe goods 81 233 62
against s5tt75l and the duties S3l425 against $40 4t9
would that last the quantities going into ware
house at this much larger than this The low
tariff then coming shortly into operation, and this year
the demand for goods continues fair and prices well sup
ported Seasonable goods of fair styles well sustained
in prices Notwithstanding the fall is its close,
and the spring business The Canadian trade is
considerable and will continue until the canals close
Domestic goods are quite 80 brisk but sell fairly,
Money Is rather less af,ndant The banks in very
extended aon and the position OF Affairs - such a.
al et induce For the coming three months i'm
portaon win be comparatively light and the demandor spe
Gle for custohouse purposes less while the amount drawn