The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-04-16

FROM OUR LONDON RRESPONDENE
COMMERCIAL AFFAIRS IN GREAT BEIrAIN-MoNEY A
DRUG-GREAT COMMERCIAL DISTRESS IN FEANcE--
SMALL EXPORTS AND LARGE lMroRTs-SMALL |
AMOUNT OF WINE SENT FROM FRANCE TO FOREIGN |
CouNrRIEs-PE OF NANTES MERCHANTS TO |
THE EMPERoR-LIBERAL POSTAL REGULATIONS THE |
CAUSE PROSPEROUS CoMMERCE-A STAB AT |
LIBERTY!
LONDON, March 80, 1858.
You can conceive of nothing more quiet and
placid than the course of commercial affairs in this
country. Money is abundant at 21a per cent. in
terest; but, as on your side of the Atlantic the
consumption of goods is comparatively low. A
large portion of the population are economizing,
and buy sparingly. Retailers find moderate sales
and of course this state of things reaches directly to
the Wholesale dealers, the importers and the manu-
facturers. The recuperative powers of Great
Britain do not show that elasticity certainly after
a crisis that you find existing in America;
but notwithstanding, this is country of wonderful
resources. There is contrast between this nation
and its nearest eighbor-France-which teaches
an instructive lesson to a country like America.
To-day France is poor and Great Britain is rich,
and all owing to the opposite policy of the two
governments. Any country that produces large
surplus of one more staple articles or any
try that is obliged to import one more important
commodities must encourage commerce, or be liable
to ''panics,' "hard times, and numerous bankrupt
cies. England, Scotland and Ireland do not have
there is large amount of unproductive land in the
kingdom, but notwithstanding this, there is
country in the world where farming is
Quoted as skillfully and scientifically
on these islands. | have myself witnessed the sale
of a farm at auction for cash, one third of which
was crag and mountain that brought five hundred
dollars acre, and that land was in Scotland, and
sold only for agricultural purposes, being dis
lance from city or large town. 1t contained lit
tie 400 acres and brought f425 500 (S2l2, 200)
Without high farming, agricultural lands would not
bring such prices With profitable agriculture and
high cultivation, and with widely extended and
prosperous manufactures Great Britain has the most
sagacious commercial policy in the world. In that
respect this country differs much from most 9TH
the far-seeing ndefatigable, successful mer-
chant differs from his poor and 'slOw" and unsuc-
cessful neighbors.
The exports of British manufactures and produce
to the United States Germany, East Indies, Aus
tralia, Holland France Brazil. British America and
Turkey, amount to 100000 annually. The i'm
ports during the year 1851 amounted to fl72 154
$780,. 700,0 00). In this vast trade between Great
Britain and the rest of the commercial world, the
United States is by far the best customer, taking
British goods to the amount of nearly one hundred
million dollars annually; and this is not owing to
the fact of any large natural want in one country
for the goods and produce of the other, but to be
raj and enlightened commercial laws. France is at
once the most populOus country with which Great
Britain has extensive commercial and social inter
course diis also in closer proximity to the British
Isles than any other nation, and yet France as
customer for British Goods is the sixth the
list, being behind the United States Germany the
British East Indies, Australia, and Holland. And
up to the year 1855, the British trade with Brazil
exceeded that with the thirty million of their Gal
lie neighbors. I call up these figures, and these
circumstances now, for two reasons. 1t is ques-
ton of considerable importance now in the United
States how that government shall act as to the
pensatiOn to ocean steamers for carrying the mails
and whether we, as Americans shall surrender the
trade of the world to Great Britain our great COM
mercial rival, or not. And then, too, you will see