New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1848-03-06
rlik ~KNi-WkEKLN TRiBUNk
NEW-YORk TRIBUNE.
THINGS IN ENGLAND.
Rrt,i-h Finances Sandcd sugar American AL
fair~- Calcutta Merchants Money Matters
An krslsnd Failures Better Prospects.

tu kuAtent tioNF'ts"'
YoTtisn Correspondence Of The Tribune.
LONDON, Feb. n, lsiS
Aupsrties arc anAiously looking forward to hear
the annual financial statement Of the Chancellor Of
the Exchequer. which Lord John Russell has pro.
missed shall % resdy next week. IL supposed
th.t,h. budget viii show a very large deficit In
the revenue and the farther supPosiiion that some
extraordinary tax will be imposed to meett causes
general depression among all classes. the min
i.tsrial organs however hint that the revenue &C
coau,s Nul prove more satisfactory than the oppo
,,,ion wish 20 believe aEd thst the Chancellor viii
sind no difficulty in striking his balance The I'M
certainty respecting the budget undoubtedly has
some eject in monetary and commercial circles
Parliament reissembled on tie 81 instant and
the Rrs:tJpic discussed was the West India q1es-
ton Lord George Beutiuc'' made long speech
All brought forward a Formidable budget Of stats
..r. snd facts connecte@ -. t rrl subject. Among
ser thing. he said tts. N, agitation many years
abolish Slavery ia the british West India
.e was pushed forwe. by the ouskers, and
s., proved 80 successful that twenty millions sterling
VAS paid BY the Government. The result was
that the West Indies had been ruined, and IL was
svep known fact tn at the first cargo OF slave grown
sugar which arrived in England was consigned 10
q quaker house and Lord George Bentinck said
that after this he could appreciate the conduct of
the Quaker grocer at Manchester, who was Ia the
habit Of mixing sand with sugar to add TO It's
weight and who said TO his apprentice, John,
when thou sandest the sugar, thou mayest come
down 70 prayers
Ia the course Of his speech, Lord George Ben
,inck remarked that Spain owed England fortyfve
- Ialt in CubQ
He recommended the Government to enforce pay
nent, and 10 case Spain did not respond at once,
!ssn ENGLAND should ssi,e Cuba.
The American commercial and political news is
now attracting considerable attention The Morn
,.e H.rai9 Of today remarks, that great deal at
Importance is attached to the vote in the House Of
Representatives. the injustice OF the war Against
Mexico as a pressge Of what may be expected
when the supplies are voted n is quite obvious,
continues the Herald that the demand for the pre-
cioQs metals to carry the hostiiities Is seriously
sgsrsvatjne the pressure in the Money market and
will therefore tend to render their continuance
more and more unpopular among the mercantile
classes Mr. Polk may indeed set all opposition at
defiance but with hostile Legislature at home
and the voice Of every civilized nation IN the world
AGAINST him all energy in carrying on the war lar
.her must be paraIy zed
Referring to the American accounts recelvehyes
t.rdsy the same journal remarks, We Ind that
ysry lew orders for manufactured goods have been
received while at the same time comparatively
little progress has been made III the shipment Oi
cotton or provision There is every probability
,berefore that the influx Of specie from the nlted
States will continue until about the end oil the en-
suing month H.
Dispstches and papers were received from India
al. IA Int flfa nAn
mercial intelligence was not considered so disas-
IRONS as MANY had predicted ii would prove. The
Tines however SAYS that upon the whole 1t must
be regarded as more depressing that any yet re-
ceive9 The state OF the Calcutta import market
is such as will be likely to exercise a most uniayor
able influence on the existing prospects OF our Man
chester and Glasgow trade and the accounts OF the
various suspended firms give unequivocal signs III
most cases Of q disastrous termination. 1t IS true
that the affairs Of the six OF eight houses mat stop
ped payment at Calcutta-a list l gave you two
months aeo--will turn out very uoiavorable, but
only two additional had occurred whereas 1t was
expected that the last mail would bring long list
OF such disasters. no.
In England monetary and commercial affairs
have undergone Interchange. Money Is quoted at
very low rates OF interest but these quotations are
ant 10 mislead the distant reader Except Tor hrst
class paper money 10 scarce now as IT was two
or tbree moths ago The Bank of England, and
the leading discount houses offer money at two or
three per cent but if only the Barngs and hoths'
chids of the great mercantile world can obtain IT,
what must be the situation OF the trading interests
II is well known fact that tho best bills oil the
best traders are rejected entirely In Lomosrdst
They are passed from one hand 70 another aad arc
snay returned to the drawer. as not isrthlng can
be raised upon them. This is one reason why the
general trade OF the country is still 30 much de
pressed as you will see that 1t Is by referring to
the trade reports
I,is true the e have been no large failures late
L..L z.Va ufrosf tad mt
narrowest possible limits, aud no specuIations OF
ANY magnitude have been undertaken But the
Ga..tte shows every week that the traders 10 the
country are being forced into the Court OF bA"h
ruptcy From my own personal observation hsar
from the most respectable aud IN many cases ex
tensiye traders great complaints respecting their
general business which they say has ssdly iaeh
Oh during the past SIX months | refer TO parties
who are abundantly able 10 pay ali their oohsHtiohs
alta moments notice and have large surplus &c"
The value OF such information Is Tar more mPortah'
as showing the true state OF trade than any hatter
ing paragraph in a neatly written "city article
Nearly all the trade reports from the msnusctur
iug districts contain the repeated assurance tAst
more encouraging prospects are near az hand, ana
vet they state that IN consequence oil the recent
advance In the price Of Cotton, manufacturers aud
summers are compelled to seek higher rates,
which they cannot obtain, aud consequently " bu'
siness is entirely checked This state OF AFFAIRS
II 10 stated must inevitably lead 70 general return
% short time aud thousands oil hands WIZ DC
thrown out OF employment
From the Iron districts the same gloomy reports
come up TO the metropolis The Iron trade re
mains IN state Of quiet depression. Nearly MI
the great Iron works have suspended operations
and throughout Stsaordshire there is a conflict be
tween masters and men.
The important trade Of Birmingham Is IN no oct
ter condition. The large manufacturers complain
OF the scarcity Of orders and in several factories
the operatives working haftime.
The Liverpool Cotton market has lately exhibit
ed signs of improvement prices having advanced
But while this is encouraging 70 American interests
thcdeslors and m manufacturers here complain. the
stock hand is less, at the present time by about
1875 900 bales than il was last ear at the same pc
Rod and by nearly 800 600 bales 10 10 the manu-
factarers are naturally alarmed for they fear that
prices will go still higher and compel them to close
their mills adopt general system Of short time
Having thus rapidly and briefly noticed the con.
ai,inn Of frada generally and nonetarx hfIairs 1