Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1856-02-08
The Foreign News. commerc,nllr.

The Foreign News, Commemorative
The news by the Arabia in its financial and trade
aspects is important The sensitiveness of the Eng
lish funds is shown by the immediate and rapid ad
vance of 81 per cent on the first announcement of
the acceptance of peace proposals by Russia. The
hopes OF the manufacturing interest in England from
the restoration OF peace indicated by the rise in
cotton The dependence of the high prices of food
on the indefinite proongation of the war is acknow-
lodged, in measure by the sudden fall in grain
and flour. The course of the Bank of England on
The question Of higher discounts is brought 10 stand
by the intelligence that Europe is the point of re-
lapsng into quiet after bloody and exhausting
struggle of two years The political and trade rela
tons of the Kingdom with the United States are
viewed with more cheerfulness under the auspicious
event of a peaceful negotiation with Russia The
Presidents Message, setting forth the embarrass.
ments which surround the relations of the two coun.
tries, Is received, and read and discussed as it were
IN spirit OF perpetual amity. In short with the
prospect OF peace with Russia England finds good in
everything, financially and commercially, at home
and abroad. lhls being every way natural and rea-
sonabIe IN itself, it were needless 10 discuss the con-
slSency OF the tact with the previous boast that the
war had not damaged trade or credit while fnan-
calIy the nations safety from speculation and con-
Vulslon depended upon the pr0longation of the war
We turn TO the effect upon this country. AS
cardinal maxim the mission OF the commerce of the
world is that of Peace The accidental or OCCASION
al fortunes that made by neutral people by
war between other nations constitute the exception
not the rule They are generally made at the ex-
penSe of other interests The decline in grain, at
present advised, may be deplored by the farmer who
has his full granarY in reserve for the opening of the
spring trade, but conceding the possibility that peace
IN Europe may affect the price OF wheat 10 partial
extent, 1t IS by no means certain that the general
demand throughout Europe this season has been
caused by the war. 1t is not upon this contingency
at least that have based the calculation that our
surplus of breadstuffs viii meet a liberal market
throughout the year, until the probable result of
the next crop in Europe is developed nor should
we look, in the positive event Of peace between the
| Great Powers OF Europe, for what deserve to be
styled low prices for grain and flour. The necesSltl,
| for large imports by France and England for war
consumption, however considerable it may have
been reckoned, will only give place to their ability
10 consume in condition of peace and manufacture
ing prosperity. Under such happy state Of things
they Will require not the cheapest but the best food
the United States can contribute to their home sup
plies, and that in sufficient abundance to insure,
| throughout the season, what years ago would
have been esteemed generous prices
The favorable effect of peace in Europe upon our
cotton crop is unquesGonable. Upon the exchanges
with France and England, which touch our money
affairs more nearly than anything else, particularly
! IN a season of importation which threatens to be
| somewhat extravaganza, its influence far outweighs
the grain question, because of the superior export
! value of the crop and the more nearly ascertaned
wants OF the manu- featuring states of Europe The
production, tOO is less doubt than our cereal sur
plus, while the demand for homo consumption can
be reCkoncd in advance, within fifty thousand bales
OF the true amount. The estimates Of gross receipts
at the ports this season, which recently put up
l-erroneously think--to 100000 or 3, 100000
bales, have been reduced within a week or two to
$4,000 or $3.50 900 bales, and throwing off $780,
| 900 bales for the OF the domestic mills, we have
! a disposabIe surplus Of $1,000 for export the
whole of which, in the event of peace will be re-
quired in Europe 10 make the stocks in the hands of
the trade, under stimulated consumption perfectly
easy. OF this, have exported to the present dale
100000 bales leaving nearly 100000 bales to
be enhanced in export value by Il rise in prices in
. Liverpool and Havre. The difference upon this by
every advance of a farthing the pound, such as we
have reported by the present arrival, less than
/ S3,GOO,O0O And from these data approximate
idea can be formed Of the aggregate difference by the
time prices shall have reached point not high
| to sensbly interfere with consumption abroad,
sixpenCe half penny for mIddling qualities nste
of fyepenCe tarthng on the average as last quo,
! The further rise in English and French rates
money is checked by the prospect of negotiating
peace with Russia Without assuming that the valdN
of money will be lmmedate y or very materially re-
duced, as this prospect grows certain for even
with peace established, large government means Will
remain to be provided to settle up the war expendi
ture-we deem 1t important TO this country that nc
increased stringency should be felt either by the
tonal banks of the trading classes of the two States
with which our commercial and exchange relations
are so intimate The benefits which, by sympathy
or reflections are be felt this side by tide by the
restoration of quiet in Europe, will very much de
pend the relative value of capital which peace il
10 establish.
As to our political relations with Great Britain
it is scarcely necessary to allude further them,
this connection, than repeat the fact Of the favora
bic reception of the Presidents Message in England
as showing that the Central American and enlistment
questions need enter into the calculations of trad
until they assume more threatening appearance thai
they now presently. Y. Times.
e rhlrtv-Fourth Congre.s-F1rst Session.