The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-12-27

those markets. have the least reason to expect mme-
date demand for improvement In, the value Of
their stocks As might be expected from the present
aspect OF commercial connections with the markets
OF the east and goods adapted to their consump
ton are about the most depressed In value OF any OF
sspies and the manufacture Of stocks held has
been attended by heavy losses to the producers AL
though not at all disposed to take gloomy view OF the
future We think our manufacturers should not hurry
with the first ray ofsunshine into expecta which
may not be speedily realised The serious drasters to
which colonial int have been by the
copont action Of supplies OF produce shipped to
the United Kingdom, together with foregl con,pet-
ton, aud the natural operation Of monetary scarcity
In depressing price, must seriously cripple their means
OF consumption, and viii for time limit their demand
for DOR manufacturer We glad to observe that the
minister for the colonies has at length taken step In
the right direction, far to sanction the immga
ion Of free aborers on the co st Of Africa to our pos
sessions In the West Indies We suggested In July last
the desrablity of public effort being made to induce
government 10 aid scheme for facilitating the emigra
see some effective organization adopted by the colonial
department. which will insure ful and permanent
supply of the effective labor which the coast Of Africa
alone farnish This, 1t appears to US may be done
by loan raised the OF the colonies respec
vey for the purposes OF defrayng the expenses of the
imm alton to be repaid by easy instruments from the
the laborer benefited by the afforded
him of changing his condition from that of slavery and
savagery to freedom and the blessings Of freedom and
civilization Until this Do DONE the West India planter
Is challenged to an unequal and unfair competition
s5aiast which we think tpat sound policy and:rue pat
rotism are alike opposed. As already said there has
been marked improvement in the tone of spinners
and nuiscturs and they looking for an improve
men In prices to be effected towards the close OF the
month The decline In the rate Of interest charged by
The Bank of England has contributed somewhat to the
lnent in demand principally for the markets Of the Me-
diterfanean and Levant. The demand for the United
That the advancing rates of money there may tend
check the demand for goods printing cloths although
y RUG upon Tor one or two quarters are tho whole
put In limited demand ana may be bought at the turn
lower then tho prices of last month this decline Is
partly attributed to the fall in cotton shs printers
and maddapoans rather neglected and the prices
these also the wane Stocks are only moderate
bat plentiful enough for the existing demand 36inch
shtings in improved re quest for the
but this demand is not sufficiently important to affect
prices 40-tnch g. E. India long cloths quite neg
iseted and heavy stocks still held Prices are alto
geVher nomina, but in any such must entail
very heavy losses on the producers Domestcs are In
fair demand, and the stocks are moderately light Al
though prices have been supported with comparative
nrmnss, they have declined shade owing to the di
Vanished cost OF production by the fall In cotton The
supply on the increase Fustians continue dull and
may be bought az rates low ever In fns plate
prints for the spring trade and which have been pre-
We nave some novelties combining much elegance Of de-
sign with great superiority in colorirg During the
early part of the month the market for yarns very
INACTIVE but within the past fortnight there has teen
more doing for the Mediterranean trade and the Nor
then ports The demsnd has been principally on the
lower counts from as to 3o for quarters and
OF 4Os, SOS COS, and s0sthe supply of these latter
Nos bsng large owing to the absence Of India orders
thay have been sold very low rates Notwthstand-
OF the growing crops Of cotton for Transmission to
Liverpool by the Britannia under date Of July slst
wherein Was reported that the apprehended desruo
ton OF the plant by floods rank underground of weeds
army worm, aud boll-worm, was more decidedly ad-
verse Tor good yield than during the last ten years
notwithstanding these speculatons which expect
ed to bolster the sxravagent prices then ruling in
abundant supplies next year at low prices which is
GO far an encouragement to spnners and their ope
Istves and the result fully confirms all our anticipa
lions OF the past six months.
[From Du Fay & Co Is Trade Report
MANcHEsTER December lS47.-Thsspanc Is over
and the crisis is drawing to Close but not, We fear
without adding some more names to the awful list of
faiores which this memorable year will shortly have
bequsath 1--WE trust not without warning admonton)
to Its successor
In examining the catalogue Of disasters before
as we find that the number Ia this solntry has reach
ed sbtut 800, The proportion of the failures Of
mer Antie firms of each town is for London
10 millions; Liverpool, millions; Manchester az mil.
lions; Glasgow, Millions and sundries, including
Leeds Newcastle, Sunderland, Shields Bristol Dublin
glad that Manchester ami the neighborhood consider
Ing The immense business that Is carried here have
sards the number and 1.-THE sterling value in which
sum up; and this let it be recollected at time when
shis District has suffered more than any other from
supply OK the important staple which gives
ptoymsnt TO It's population
The reduction in the consumption Of cotton this year
mas os-n 1900 bags weekly each Bag containing about
oeo IDS OF cotton All the mills in tho United States of
america do MOI work cotton annually than the
aeheiency In the consumption Of this staple In Great
Britain has to in ls47, compared with 1886
Notwithstanding the great loss which this circumstance
has enteed upon the manufacturers and ali who are
directly or indirectly engaged in the cotton tade this
branch has sood the crisis better than any other We
attribute this almost entrav TO sound sysem OF car
ryng ON trade and to the fact that cash payments pre-
vail here to greater extent than in any other town Of
the saus magnitude we are acquainted with The
orbi'ant rate Of discount has had the tendency to
change in some measure, this excellent mode of paying
for the purchases made Of spinners and manufac
turesi but we hope that system which has worked
well, viii again and speedily be had RECOURSE to- We
recolect the time when bills in favor than
gold, aud when the manufacturers, before striking
bargain, made 1T condition to receive draft upon Lon
1op instead Of cash. These times gone by and we
hear Of no such stpulstons at our Exchange The
sellers give preference to cash it is but hope to
see 1t openly acknowledged that lower prices taken
where no risk whatever Is incurred This 10 a more
important point than it Mt frat appears to be- Every
circumstance which enables the English producers
TO sell cheap, facilitates the export trade. and
the competition in nuetral markes America and
tors and slight difference will turn tho scale either
la favor OF one or the other country The impulse,
however slight which he's lately been given to
port trade and which would possibly have continued but
Tor tue advanced for shipments Of the
markets was entirely caused By the low prices current
mere Tor some descriptions Of goods Notwithstanding
our exports to America have been double the amount
tails year to what thay in the preceding one, and
that We have exported of plain printed and dyed cot
tons, the large amount of something like forty seven
millions of yards than in 1886 rather large ship
ments of plain grey goods have gone forward to that
country lately, owing to the circumstances that the
present prices enable us to compete with American
manufacturers. We consider it fortunate orcum-
lions greatly when cotton began to advance and when
it was uncertain how the coming crop would turn out
They have acted with remarkable discretion fore
sght and 1t s not from want OF tina they have
no stocks on hand but rather from that great loss
would have been incurred by holding stocks of goods
produced from the dear cotton They are now begio-
ming to give more employment to their work people, not
because there Is more active demand for yarns and
goods but because the present prices Of the
rial warrant an increased production. They say
recty cannot possibly lose by goods produced now,
even If we have to hold them some time before the
demand revves" Our opinion to expected i'm
proyemept In commercial affairs Is not based upon
incI ease Of few millions OF bullion in the Golfers the
bank or this may arise just well from the absence
of the elements OF better trsde) but rather upon
ample supply Of provisions, and n plentiful cotton
crop and consequently cheapness of these impor-
tant commodities With cheap food and cheap cotton
hops TO get pretty well next year, and we
stats rome OF the reasons whion make think
b The same caution which has kept spinners and
manufacturers free from stocks OF dear cotton has also
been nsrunenta in keeping the large warehouses of
our home trade comparatively bare of finished
goods and che facility with which shop keepers In diff
Lhe INV ha simo st iuina