The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-04-12
COMMERCIAL AFFAIRS.


The stock market opened heavy this mornng-the
return of weather and the result of the election not
having had the favorable effect anticipated Thore is
more complaint to-day of tight money market and
the for shaving notes in the street have advanced
At the first board to-day, Farmers Loan fell off y per
cent Canton Company, "a Erie Railroad, old, q; Har
lem, u; Long Island, u; and Reading Railroad u.
There anxiety exhibited to soil stocks and the
bulls purchased freely all offered. The sales not
large.
The election for directors Of the Long Island Rail-
road Company resulted in the choice of the old board
with one or two exceptions Now that this matter has
boon disposed off it would be good policy the part Of
the to revise the tariff of charges for pas
sage and make it more uniform and more equitable.
THE value quantity Of the staple products of the
South, exported to foreign ports from Savannah for
the month of March, in each Of the past two years.
were as annexed - M a
C0"AnneH OF .s w s,, OF EXPORTS nAHeH
zmeric@" Foreign A,reriea" Foreign
Cotton gssns.s l 's : s ss 70 's' ssS
Total, lbs. 4Sg2, $40 s,o004a 4s2ss l5slss27
Value . 80. ss7o.ao6 ss2sss7 ss7,oa sl,l2aosO
Rice tierces . 4T 65l 1884 800
yss; ;s.. s sssss s ss s sss f,
The value Of merchandise exported for the month of
March 1s4o exceeded that for March, last year. $780,
637 Tho most extraordinary feature in this statement
Is the fact that during month of March this year.
out of 81 241I5 worth of merchandise exported, only
967 200 shipped in American vessels$1 $3.50
having been exported in foreign vessels Last year the
exports pretty equally divided between American
and foreign vessels.
The enormous difference in the valuo of merchan-
disc transported in American vessels for the month
4hs year and last is unaccountable but it is strong
argument against any interference with naviga-
zion laws Until do our own foreign carrying
trade it would not be good policy to open ports to
Che vessels of any nation to do our coasting
carrying trade. The movements going in Eng
,and relative to the modification ar repeal Of the
navigation laws Of Great Britain intended to draw
4he United States into treaty, into the adoption
OF measures which will rebound almost entirely to
tho aggrandizement Of British commerce. We have
nothing to gain by any act of this kind. The coast
ing trade of Great Britain and every other country
in Europe, is bagatclle compared to that of this
country. We have extent Of coast greater
than that of all Europe combined Our ports of entry
are Important and more numerous than those Of
Europe; and the fact that they more widely separa
ted, makes tho carrying trade between them of moro
advantage. The system of internal improvements in
Great Britain is established upon such extensive
and magnificent scale that the coasting trade Of that
country has become business of moderate extent to
what 1t used be. With railroads running from end
of the country the other and between all the prnoi
pal ports the coastng business has been deprived of its
most important features There is therefore,
arson between the coasng trade of tho two countries
Great Britain give equivalent for opening
ports to her commercial marine. Whatever encourage
mont the British government may have received from
tho American Minister in London, relative to the
course our government would pursue in this matter Is
Of no consequence he merely followed the private
structions of retiring President, who assumed
q personal responsibility in this affair, he did
in the Cuba question: without any reference to
Che head of the State department. Instructions
derived from the source named, in tho manner
alluded to- left record in the proper department.
Hence the statements which have boon made that Mr.
Bancroft acted without authority. What course tho
British government will pursue relative to tho repeal Of
Che navigation laws Of the united kingdom, when the
policy of government becomes known, remains to
be seen; but the probability is that all changes will be
abandoned, and the commercial supremacy Of England
sustained under existing laws, long possible.
The opening Of ports for British vessels to
I'm coastng trade IL tho prize sought after by tho
British government; and it is certainly prize Of inn
value country geographically favoraby stu
tcd this with unlimited resources and with popu-
laton possessing all the energy and enterprise so
sary to deveope those country fact in
its infancy, should not barter away it's domestic pri-
vilegcs for those offered by nation which has reachcd
its ma ximum. and il desperately endeavorng to sus-
tain itself by sharing possible, tho advantages en-
joycd by its rivals.
Stock Exchange.