The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-12-27

Suuuenly anu enormously nHa,o0, ana CfeuitS nt0
therefore comp aratively uniform and steady. The
manufacturing districts Of Great Britain are very
much depressed by the absence Of demand from the
United States, and thu effect Of any revulsion ON
this side is more seriously felt In Manchester than
in any other part of she United Kingdom -
Trade il scarcely active towards the close Of the
year but DUNG the past month it has been unusually
dun II we consider, however, the overwhelming diff
cutes under which commercS Is now carried ON, and
Of depression and let it be recoected when
peace with all the world surprised that in Inn
enough 10 recorect the time when government loans
made to relieve manufacturers whose stocks
had greatly accumulated and could not be disposed Of
at any price, and when companies were formed in Man
chester for the purpose 81 advancing money yarns
and manufactured goods but thanks to free trade and
TO the general prudence with which has been
carried ON and thanks to the system prevailing here Of
cash payments have not to that pass yet and
trust that we shall not come to it. We have 80
through the winter without depriyng the laboring
classes of their usual and necessary earnings at this in
clement season; for, although short tme'' working
has been good deal talked Of 1t has by been
generally adopted. Some descriptions Of goods, is
true, are accommodating, but, as general rule, the
stocks neither o. yarns nor o. goods are Inc
piled; on the other hand, know that cheap prices
push trade, and that in the Indian markets In
particular immense quantities be disposed Of atlow
rates IT. under such circumstances, stnted supply
Of cotton and consequently higher prices had been
lot it wouli have entaed successive losses upon ship
pers for prices reduced certain level in foreign
markets. 1t is almost impossible to raise again in shor
tine Fortunately for the general trade the
recently received from America speak in favor Of larg
crop and consequently for moderate prices Our friend
will recoeci that this time last year considerable
auction In the consumption of cotton took place, owing
10 various referred to in trade report of the
LIST December 1885, and estimated by at that time to
have amounted to nearly IL, 900 bales weekly.
The deliveries o. cotton to the trade, from
Liverpool, last year, were, up to the 24th
lille up to the same time this year they
amount to 1,671 ,2t3 bales showing an ex-
cess in favor Of 1854 off,. .............. 02035
Total. :. len ,2o5
We are consequently consuming cotton now than
did in 1858. We know practically that more heavy
goods such cloths and other stout fabrics
produced than last year, when lighter qualities Of
India Many Of our producers have turned from 81
shrtngs to heavy narrow goods, better demand hnv-
ing for some time past been experienced for the latter
The following shows the comparative stock of cotton In
Liverpool on the oath November
THE Stock CorToS IN LIVERPOOL THE OATH or No.
yEMBER, COMPARED WITH 1855
oath Nov. "a 500 1850 $3.50 15s,9S0 61s63o
25th Nov. 5s.4o7,4 400 1880 1920 177,e5o 7l454s
Tai en- for consumption. .1,67l, 20s 1,57916S
Actual export. :........ 2l0,9S0 240100
Taken on speculation, etst.. 4S9,530 637,590
At present all minor interests seem absorbed in the
eagerness with which the momentous political crisis now
pending is watched Men of all grades and pursuits are
reused BY iorcble and eloquent appeals and laying
or to act Mutual dangers beget mutual sympathics;
and those who share the former anxiousy look
The present state Of suspense is douby felt as it inter
rupts preparations, usually made at this time Of the
year. for tho spring demand 1t is well that the sound
condition Of the commercial classes enables them bear
the momentary stop In trade without serious conse
quenccs Previous the American accounts per Arabia
we're made on speculation These have cea led 9ne to
the expectation that ample supply of cotton will
be received than previously calculated upon Caution is
wat bWn of mn rad In Ia.
restricts his transactions to the urgent wants.
and this cannot fail to have good effect in prospec
tive point Of view whilst, however il increases the pre-
sent duness and gloom.
In these times Of "bapk SUSPENSIONS and shin.
plaster Hnancieriag, when every broker in Wall
street who can raise few thousand dollars to pur-
chase little ultimate security" Ia xner Of bank
or two in Indiana or Illinois, the folio wing descp-
tiop, from the Cincinnati Commercial, OF Western
par king and Of an int srview bet vene bank officer
and bill holier will be appreciated
ULTIMATE SEcrRIrY-THE Stock BANKS OF INDIANA DUyy
BROWN
Ithere was anything wanting to Justify tile course Of
ns "r sns banks Of
unreliable character of those institutions the letter of
the Hon. John 7. Dunn, Auditor of State, dated
this city Saturday last, viii supply the deficiency
And II anything needed to complete the discredit
under s es banning Ia law ana su Organized
creation OF any ones Mr. Dunn letter il ample TO
meet the demand We have recently heard treat deal
about ultimate security. What ultimate security H. Mr.
Dunn has defined with great cearness and elegance II
that the circulating notes Of the stock banks are
to be paid some time or other-if ever.
Suppose gentleman should be 90 unfortunate a TO
fall heir to five dollar upon one Of these institu.
tion and desires to realize upon Il specie exchanee or
the notes of soms concern that pays s s5ues
presentation, what Ii he to dor First nd the bank
that Of course and that Il not always an eosy matter
Banks In Indiana lurk IN out-of theway psces Iike
the insect hunted by the chronological beuan vhen
you find them they arnt there They dent Affect cor
LOTS but shun the din Of crowded cities nesting CO.
silly under the lee Of prneval forest marked by An
ancient Indian trail solitary COW path. They Are
things to be found by the bee hunters are seen sr on
BY the midnight Nimrod in search of coons With the
moonlight sleeping upon their shngle roofs and print
tive cornices Capital has become modest and wealth
rees from the wosld into the coisers of the deem GA
woods or the holy soltudes of the pirss oouyersne
with Nature-Aying mp It's treasures where none but
the Hon John Z. Dunn can find them
But suppose that the institution ia revealed and the
monetary anchore stands confessed suppose that bu
siness hours have arrived and the sn0e whose oppo
sing surfaces give each other the e faces the ann With
the Recommendations IL open,o We see the afore
safe heir with rapid steps approach the edice He en-
ters; he draws his pictorial evidence Of pronise from
his rocketbook; he approaches the counter presents
his note to the paying teller, and a colIoo ~ enspes
Can you give me specie for thissp
Ono "
"sight short time eastern exchansess,
tNoD
ewlat can you give mes"