The southern press., 1852-05-11

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the House from Tuesday, the first of June. TO
Friday, the fourth Of the same month, the cues
ton being on the motion of Mr.. GAYLORD to
amend the resolution so that the adjournment
shall take place from the 18th to the nth of May.
Under the operation Of the previous question,
the amendment of Mr.. GAYLORD was agreed to-
| The SPEAKER moved to lay the resolution on
the table, upon which motion the yeas and NAYS
| were ordered, when
The House adjourned.
HUNT ON COMMERCIAL MATTERs.-The Nav
number of Hunts Merchants Magazine, con.
tains as usual, singularly clear, comprehen i've
and philosophical expose of our commercial and
financial affairs. We give below few Of the
leading passages from Mr.. Hunts Commercial
Chronicle and Repieio, for the month, touching
the general aspect of trade and commerce
throughout the countryside spirit of specula-
tion--the advance Of real estate-the decline in
the value of merchandise-the sacrifice of Eu.
ropean goods, and the effect of supply and de.
mand upon bread-stufs, &-o., as follows:
The present condition of various sections Of
the country affords some singular comparisons.
In all of our Atlantic cities, capital is very
abundant, and offered at low rate of interest,"
and spirit of speculation has sprung Ip which
seems to take hold of all classes. This is par
ticuarly true of New York and its adjacent ci.
ties, where real estate has advanced in nominal
value 10 to Is per cent. above the ordinary rate
OF increase, and where almost every species OF
property other than perishable commodities, has
rapidly changed hands for speculative purposes.
But while real estate, stocks and bonds. and
fancy investments, are thus selling at enhanced
rates, most articles of merchandise are selling
at unusually low prices. Nearly all descriptions
OF European continental fabrics are actually of
fered both by auction and private sale at a yalue.
not only far below their original cost, but also
below the price at which they can be replaced.
This is true not simply Of fancy goods, the
style OF which may GO out of fashion, but of sta
pie fabrics, identical with those which must be
reproduced for next seasons consumption
Plain black silks, which will doubtless be worn
for centuries yet to cone, have been sacrificed
in tie face of firm European market, at prices
below the rates at which any one can hope 10
land them for another season. This is equally
true of other staple tissues, which have been
crowded off far below the cost at which thew
can be replaced. A considerable portion of
these goods has been consigned here by foreign
owners; but sales have also been made by our
own importers at similar sacrifices. The truth
appears to be, that the production throughout
the world, has been in advance of the consump-
ton, AMI producers in their eagerness, each 10
close his own stock, have carried the competi.
ton so far as to ruin the whole trade. This
sacrifice In the prices of goods, will 90 far 10
correct the evil, by stimulating the consumption.
Fabrics have shared TO sore extent. in the same
general losses. This is particularly true Of
spring dress goods, for which the season has
been very untavorable, the cold weather having
materially limited the demand for them.
Cotton has continued very steady in price
the fluctuations for the last three months having
been less than for many years. The crop, il i
now ascertained, will prove n very large one, and
yet with good demand both at home and
abroad, there has been no paric and no general
decline. Breadstuffs have been seriously de-
pressed; great hopes were entertained Of a
spirited demand from Great Britain, and there
are still indications that beyond even the large
supplies which have gone forward from our
Southern cities, there will be room for further
shipments. But the interior Of our country il
full OF cereals, and there is no outlet promised
of sufficient capacity 10 absorb the surplus. IL
is seldom that the supply continues 30 abund.
ant for many years, and with the greatly in
creased consumption produced by low prices and
good wages, one short crop would restore the
equilibrium.
Since the thirst for speculative investments
has become so general in our Eastern cities.
many have BATTERED themselves that il would
lead TO no serious losses, because the schemes
proposed are less wild and visionary than those
which produced such general disasters during
former commercial crisis. We are not so sure
that this saving distinction will be found TO exist,
upon n careful compassion of the fayoriie
schemes at both periods. Il lis true, few are now
willing TO buy town lots lying outside of low
water mark, and fancy bubbles Of the precise
color Of those which once exploded are not
likely TO be vogue. But human nature is the
same, and the traps 10 catch the unwsry are
quite - thickly set as Of old. Not TO mention
other plans for securing golden fortune in an
easy tide, we may instances building associations,
ms sifording all the necessary. machinery for
fleeing the many for the benefit of the few.
The object Is ostensibly good one, and many
OF the model enterprises have no doubt been
started from motives Of benevoenee, and wisely
conducted for the best good Of those for whose
benefit they are intended. There Is just enough
Of plausibity in the plan to secure the appro-
baton Of those who are heartily DESTROYS of do
ing sometlingto provide the comforts Of home
for the mass Of the lower classes; just enough
Of a prospect Of extravagant gains TO lure on
those who, with small capital, are making haste
TO be rich and quite enough Of opportunities
e. a. II CT. l. =. A.. a 4 a.