The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-05-17
BY TELEGRAPH.
ARRIVAL OF THE BRITANNIA.
From BALrIMoRE-ll O'Clock, r. NJ.

.
The steamer Britannia arrived at Boston at midnight Oh
Sunday but the telegraph to New York, as well al
that from New York to Philadelphia being out
order until last evening" we did not receive our regula
dispatches by telegraph until tonight.
The Britannia sailed from Liverpool the 10Th April
a. m, consequently brings dates from Liverpool abou
fifteen days later than those brought by the Gale
donia.
CoTToN MARKEr--THE PRICE OF coTroN.-At the sail
ing of the steamship Caledonia il had downward tenden
cy, and, since her departure had further declined Thu
market hadbecome flat the sales less, and speculator
moi inclined TO operate Several had contributed
produce this reactions the prominent one, the restrc
tive measures of the Bank Of England advancing tn,
rates Of interest," and its refusal TO Discount bills bearing
the endorsement of of the first houses in England
which said to have been engaged in speculation
shipping goods to the United States. This move
ment is said to have had a most telling effect upor
the manufacturing portion OF the country; ant
the cotton market continues suffer under this pres
sure Prices OF American, from the nth to the 23d ut
declined 3D. TO 3D. Brazil Egyptain and Surat 3D. to 3D.
and the close OF the following week. ending the 30t
ut, further reduction followed of 3D. to I'd. Amer
can and all other descriptions On yesterday the business
declined to about 1000 bales at the currency OF Sat
urday and the market free from speculation Prices
of cotton fair good fair bowed Georgia GID to 6ad
Mobile Ga to I'd; New Orleans 81 to "A d. On the fol
lowing day better accounts were received from Londor
as to the state of the money Market which gave i'm
proved tone the cotton market at Liverpool, and the
sales OF that date amounted TO about 1000 bales OF Amer
lean al an advance of 3D. Most of which, however,
speculation.
Flour MARKET-There has been some huctuaton il
the price of flour during the month but prices have
settled down to 40s Western canalf flour, American ret
wheat is held at Cd TO Is 9d and white at 2s I'D
per bushe Indian sis. to $685. and red 52s to sos
During the last day two wheat has advanced I'd pei
10 pounds Western flour IT, per barrel; Philadelphia
and Baltimore -four Cd in the Liverpool market Th'
demand for corn is limited, and prices had declined rs
per $50 lbs. yellow IS; on white yesterday, May
3D. foreign wheat obtained advance OF fully Is PEI
quarter The -four trade was very active and rise O
2s per barrel was established, whilst Indian wat
sold at Sc to 5ss for Yellow SO to COS. for white. The
amounts which the Americans have sent to the starving
Irish has been the universal theme OF eulogy in Ireland
and OF warm and generous sympathy in England
MONEY MARKEr.--In the money market, during the
last fortnight the funds have continued unnterruptedly in
their downward cause.-the bullion in the bank still de-
creasing rapidly The directors have been more strn
gent than ever, in fact, though they had not publicly
made any alteration in the terms of discount They had
done what has acted on mercantile business with more
severity-they have virtually declined to discount at all
whilst the discount houses charging TO per cent
for short dated bills OF strate quality and u per cent
for bills running until July The effect upon business
has been almost to put stop 10 transactions OF
during the last few days, however
the bank has discounted more freely, and con
soils have rallied q little. The improved feeling
has been further strengthened by the tina
the Russian had resolved TO invest upwards
of two millions sterling of gold in the English funds
STILL the severity of the pressure only partially relieved
and evident that for time to come only
expect very straened money market and higher rate
of interest To-day the effect of the investment OF Rus
STA gold has been counteracted by advces from the
tinent raising the price OF prodigously The ute
stagnaton of trade the manufacturing districts has ast
had its effect Consols declined per cent in the
of the day, and the markets closed heavily. The Euro
pean Times, of the 4th Instant says Since alluded
the position OF the Bank of England matters have become
worse, and the whole commercial world from Cornwall
Cathness and from Cape Fear to the Giants Causeway
are up in aams in relation absurd monetary policy
Great is the triumph of the currency doctors, and grea
the exutaton at the embarrassment which is beginning
to ruin many, and has already caused proud hearts t.
bow in humble prostraon with regard to foreign affairs
The European Times also says The foreign events OF TIL
fortnight are of striking interest in Portugal The Junt
still keep the Queens forces at bay The insurgents
too powerful and wealthy to be extnguished by force
by money, being raised 10 buy out their hostility TIL
Queen OF Spain and her husband show symptoms Of
during each otherhey have appeared together in pub
lie!