The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-10-28

financial and commercial systems Of Great Britain.
The alterations made In the sugar duties Il England,
some time since, by which slave grown sugar was
almost prohibited, while free-grown sugar was sd-
mittsd upon the most favorable terms nearly ruined
one class Of merchants and established another class
This new system remained In operation just long enough
to get the trade established upon another basis when
another change must be and the whole fabric
sructed under the system again falls to the ground
Upon the ruins of the system the old system
again into operation and the class Of merchants essb
lished under the new system falls with 1t 1t nust,
therefore, appear that these revolutions create
nous changes in the position Of those houses
gagged in the trade affected by these continual changes
in the general system Of the The policy Of
England relative to her commercial Affairs, has
been to monopozeas much possible every branch Of
1t calculated to give her wealth and strength but her
philanthropy has frequently stepped In and upset her
commercial policy In the of the sugar duties
this practically illustrated and to tho ascendancy Of
this in her councils can be attributed the frequent
buttons in her commercial policy These everlasting
changes must ruin the Of any country, and
so long any government adheres to this principle
can expect no permanency, no stability In trade
When the duties upon slave grown sugar were advan-
osd to point making its admission into England almost
prohbtory, immense capital invested by British
merchants In hs growth and production Of free grown
sugar There investments promised to be very produce
tive for time but in the midst Of this prosperity
der the order Of things one Of those everlasting
changes made, by which the duties slave grown
sugar reduced that It In competition with
the free grown sugar aud sealed the ruin those
gagged in the latter under the patronage the govern
ment.
The immense amount Of money appropriated by the
British government for the determination of slavery
from their possessions in the West Indies SUM-
cient guaranty to British capitalists that they would be
protected In whatever they adopted to
rage the growth Of free sugar. but in this they have
been mistaken-wofuly, terribly mistaken. There Is
nothing in the movements OF government subject
to many influences brought to bear upon the
party In power and the changes in the position Of par
Ties frequent that II Is impossible to predict with
any degree Of what will be the next
In the British parliament These revolutions must In
variably be followed by revulsons Of greater less
strength, and. the only way to avoid the latter,
Is to do away with the former. We have alluded
to the changes made in the sugar duties for the pur
pose Of showing one Of the principal causes Of the
present revulsion, and the prime OF the down.
fall of many of the most extensive mercantile houses
in London. There are other causes somewhat sim
liar to this which have been very influential in bring
ing about the present panic, among which the most
quent notifications and reductions The runous eject
of these changes only be realized by that portion Of
the commercial classes directly connected with the bust
ness Affected and the public generally only its effect
in the extent Of suspensions similar to those recently
made The merchants are compelled to adapt their ope
ratons in trade to the laws laid down by gov
eminent providing for its regulation and when more
liberal construction Is put upon the act by the govern
ment the only class benefited is that coming in under
the new act, and starting simultaneously with It, A
heavy reduction In duties upon any important article of
trade entails heavy losses upon those holding large
stocks Of that article imported under higher rate Of
duty and frequently tends directly to their ruin Free
quent changes Of this kind tend frequent losses and
the ultimate result of these movements is general
bankruptcy Of the leading houses In the principal
branches Of business.
The quantity of flour, wheat, and barley left at
tide water during the Sd week in October the years
1916 and ls47, Is as fellows
~ 81 ,s 81 l ID 81
Increase. e.os7 Dec. naeas Inc. S9,3M Dec. AIMS
The aggregate quantity Of the same articles left at
tide water from the of navigation to the
22d Of Oct. inclusive, is as follows -
Flour. b6ls. Wheat. bu. Corn. bu. Barley, bu
s sS is sa,s i s,ss, 81 ss, -
Increase. o,,4so i.oas.ool 1.iooiss Dec 81 a.,
BY reducing the wheat to -four, the quantity of the
latter left at tide water this year. compared with the
corresponding period last year. shows excess equal
to lO62o3o barrels Of four and decrease of excess
since our statement Of last week. Of 2243 barrels Of
-four.
The receipts Of thus far exceed by Oos BUSH
els, the entire receipts Of 1916.
The receipts Of barley up to the close Of the third
week October during the present year. compared with
the corresponding period In 1885, show decrease OF
9sS bushels and from the LIST Of September to the 22d
Of October inclusive, compared with the Same period In
ls46, a decrease Of 222, 500 bushels.
The following table shows the quantity Of Of the
principal articles Of produce left at tide water from the
commencement Of navigation to the 22d Of October in
elusive, during the years ls45, si days. 1916, (eO
days. and ls47, l76 days. -