The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-11-21

breadstufss this side Of the Atlantic The uesther
in Great Britain for days previous to the depar-
ture of the steamer, had not been propitous either
for those preparations necessary for the sowing of the
fall crops or for the preservation of grain
in stack This is indicative of a shorter supply of
breadstus in the markets later in the season. as the
time and attention of the farmers will be directed to
getting in their new crops and threshing out their
old ten pIary improvement In prices is antici-
pated iron these causes but perceive that none of
the British authorities look for perma nent or i'm
portaDt advance. The near approach Of the period,
February 1. ls4s) ut which the existing corn laws
to terminate, and the trade in be compare
lively free, will, NO doubt, have influence upon
producers and speculators, and induce them to put
their supplies upon the market as early as possible
We have nothing more definite by this arrival relative
to the domestic supply of grain or potatoes, bat
the steGdness Of prices and the absence of all spe-
cuation is pretty good evidence that it /, the
prevailing opinion that with moderate import u.s.
1t will be equal to the demand for consumption.
Large shipments of both -four and Indian corn have
been recently made from this and other ports of
this country, to Great Britain aud Ireland. We no.
tice that the shipments have been more distributed
than usual and bear the appearance of being made
upon foreign account rather than account ofspeo-
ulators this side OF the Altar Heretofore the
bulk of the importation of breadstufs, from this
country into Great Britain has been into Liysrpool
and distributed from that point to all ohers-smilar
to the movements in cotton-but now it Is direct
into the markets where they required for con-
sumption. 1t is very probable that shipments from
this county to Great Britain will continue for some
time, to extent in the face of pprecating
prices, and be placed in bend take advantage
of the changes about being made in the corn laws
In the event however, of any important advance In
markets. shipments could not be made, unless
the prospect Of corresponding improvement on the
other side much favorable than represented
by recent advices We look for moderate, but
healthy and remuuerative trade in breadstuRs be-
tween the two countries throughout the season, but
nothing approaching the speculative operations of
1916 and l847.
The London money market is represented as hav.
ing undergone material improvement, the result Of
which was an advance in consols A reduction in
the rate of interest certain descriptions bills was
without doubt the cause rather than the effect of the
change. movement Of this kind calculated to
engender confidence, element of so much import.
in financial affairs that its extension should b.
fostered and encouraged in every way 1t has for
such length of time been at such low ebb that
there very little probability of its recovering so ra
pidly as to produce any speculative movement in any
great staples but the contrary the experience of the
past has been too dearly purchased and the disasters
realized are yet Of such recent occurrence that a
great deal of caution and prudence will for 80 time
be exercised in all commercial operations As an
evidence Of this it is only necessary point to the
great abundance and cheapness of money in England,
and the little dispostion exhibited engage in any
thing but the most legitimate operations and in those
only to moderate extent We trust nothing will trans
prs for long time to disturb deranse the existing
order OF things and that gradual and steady recoye
ry will take place, instead of jumping at once into
movements which must, later, termu nate in
disasters equally as extensive as those recently
realized. Such q revulsion has passed over the
commercial world-such complete prostratiou OF all
credit systems-such thorough revolution in evsry
system which has for ages regulated the finances and
commerce Of all nations and in all the political affairs
of Europe-caDnot be easily obliterated, and the
effects easily removed. 1t will take years TO bring
thing. back to a prosperous condition and many re
lapses will doubt be experie in the course of
recovery All proper and legitimate means should b.
employed to bring the body financial aud oomrasrcis
back again to sound and healthy state; but any at
tempt to force it by art icial may, for time
be satisfactory but It will sssuredly be foil by
relapse, which will be atte nded with alarming re.
suits. For this reason look upon all these nova
ments, calculated to give impetus to speculation,
with ear and trembling and the public against