The southern press. [volume] (Washington [D.C.]) 1850-1852, 1851-01-22
Correspondence Of the Commercial .9drertiser.

LONDON, Jan. 3, 1851
| The last letters from this side were dated De.
cember 81, by the Franklin, from Southampton
| Since then attention has chiefly been directed to
| the retrospect of The past year in all departments
of business, and to inquiries speculations as to
| The probabilities of 1851.
AT the same time the belief that the circum-
i stances which induced the bank of England last
| week 10 raise their rate Of discount from q tor 3
| per cent. would be only temporary, has been full
| w borne out. All the continental exchanges have
| become more favorable regards this country,
| and the influx OF gold has entirely ceased. The
impression is that ii will be even more pros porous
than the past but more varied, anxious and event
full.
ENoLIsH COMMERCE IN 1S50.-Ail the accounts
from the ports, commercial cities, and manu-
featuring towns Of the kingdom, agree in admitting
that for extent and steadness of trade, there has
never been more satisfactory year than the one
lust closed Not single complaint is heard from
any quarter since even the old organs of the pro-
| tectonst arlstocracy, although of course they
| avoid the slightest word Of grateful acknowledge
ment, find it impossible to touch upon what has
been withoutthe DANCES of reminding the pub
lie Of their dreadful and ludicrous predictions, and
they therefore keep silence altogether The mid
| die classes have all been IN the receipt Of sound
profits, and have laid in stock of courage which
will cause those profits to be extended--while the
working population have enjoyed degree Of in
dependence without precedent in the history of
the country. As regards the landlord class and
the farmers, all that can be said is, that far
from having been enguphed in the ruin which
was by this time TO have settled ell doubt about
the effects of our commercial legislation, they are,
according to their own avowals, no worse off than
last year The price Of wheat throughout the
whole twelvemonrhs has shown steadness rare
y equalled and il is at this moment rather higher
than at the close OF lS49, taxation and every kind
bein y-h vii 10 he
vvifying effect Of competition, singular advance
has been made in all kinds Of scientific appliances,
which will insure increased welfare for the future.
With regard to each particular department Of
business the following paragraphs may be given
as embodying the general statements conveyed
by the leading houses in their yearly reports.
/" In the cotton trade" it is stated, ''spinners
and manufacturers at the early part OF the year
were carrying on an Improbable business, but for
several months past the greatest activity has pre-
vailed, and yarn and goods have been in such re-
quest that the production could scarcely keep
pace with the demand. especially for descriptions
suitable for India and China. At this moment
stocks both Of goods and yarn are very light
In the wool trade "the results for the last twelve
months must have proved extremely satisfactory
to the grower, importer and manufacturer" The
consumption has been going forward to an i'm
mense extent and still continues The exports OF
woolIen manufacturers hive been one-third more
than IN Js4y ana dOItie tnCh' OF 1870.
In iron, Notwithstanding the revuIsion sustain
ed from the railway mania, the production has
been equal to thu, Of the past year, and efourth
more than in lS47 prices are equal (wIthin halt
crown per toni to those which were current in
1S49, and the local consumption continues on a
very extensive scale "a firm and hopeful feel
| ing" i, is said "exists in the trade"
| OF hides, which constitutes an important agri-
cultural item. il is mentioned that an unusual
quantity has been exported at advanced prices,
and stocks are very low. With regard to leather,
the report Is that the stock il small, while M re-
spects the coming yenr, "the consumption conse-
quent on prosperous state of the manufacturing
districts must be very large"
Lastly, as respects the shipping trade, the ac-
counts are such as TO extingush eGectually, all
the prophecies which doomed this branch Of en-
ierprise TO fate equally rapid and deplorable with
that Of agriculture. At the end Of the fret year
Of the repeal Of the navigation laws, and Of course