New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-06-21
GREAT BRITAIN.
THE STATE OF BRITISH COMMERCE.


xonespondence Of The n. Y. Tribune.
LONDON, June 3, 1853
The trade and navigation tables just published by
the British Board of Trade comprise an account Of
the declared value Of the exports Of the United
Kin gdom in the three months ending 3lst March,
1865 compared with the corresponding period Of
the year 1857; an account of the plumber and tun-
mage of vessels entered inward aud cleared out
ward with cargoes 10 the four months ending Both
April 1853, compared with the corresponding period
of the years 1856 and 1857; and lastly, an account
of the principal exports and imports for the four
months ending 3Otb April, 1853. The amount of
Che exports for the month Of April, 1853, is
f9,45lO 900, against G9965,OOO in 1857, and
co 600 in 1856 while for the fodr months there
II q reduction of nearly E6,OOOOOO in the year
1853. Accordingly the British exports Of the
month OF April, 1853, would appear not only to
hrye risen sboye tie level Of 1856, but closely to
approach that reached in 1857, some months
prior to the commercial explosion in the United
States Hence it might be inferred that the last
traces Of the crisis are rapidly disappearing, and
that British commerce, at least, is again entering
new epoch of expansion. Such conclusion, how
ever would be altogether erroneous. In the first
lice as far as they relate TO declared value do not
show the actual returns, but the returns as antlc
pated by the exporters. Moreover, closer examina-
ton of the tables of exports proves that the appa
rent recovery of British commerce is mainly due to
an importation of East India, which must lead
70 q violent contraction of that market. Already
We read in the last commercial circular of
Messrs. George Frazer d Company: The
" later adyices from the East show symptoms
" of reaction from the extraordinary high range OF
i" prices which have been current IN Bombay and IN
"Calcutta during the period when supplies there
"were so short. A not uncomfortable decline has
"already been submitted TO upon the arrival out of
"cargoes which were shipped not later than Deem
"ber. The supplies since then have been to both
"markets most liberal, ifnot excessive; and seems
syery probable, therefore, that for some time to
"come we must look for less support to prices from
"the great activity of the Eastern demand than has
sheen so far experienced since the beginning OF Jan
"uary." Beside India, those European and other
countries which till now had not been reached by
the effects of the commercial crisis, have been
blocked up by British merchandise, not IN cOnse-
uuence of increased demand, but by way of expert
pent The countries thus blessed were Belgium,
Spain and its dependencies, some Italian States
principally the Two Sicilies-Egypt, Mexico, Cen
trail America, Peru, China, and some minor mar
kets. At the very time when the most disastrous
news was arriving from Brazil and put check upon
Of British industry compelled to find an outlet for
their exuberant produce, did not only not curtai
but actually augment their shipments for that mar
het. Thus, during the month OF April, linens,
esrthenware and porcelain, destined for Brazil,
were increasing in quantity as well as declared
value. Nobody can consider this bona tide exports.
The same remark holds true with respect to Aus
tralia, which had acted as 80 elastic center of
absorption during the first months OF the crisis
Australia was then and is sill Overstocked; sud
den reaction took place; the aggregate exports
thither were diminished, but again some branches
Of British industry, instead of contracting, have
actually expanded-sp ecuativey, of coarse-taelr
supplies 10 spite OF the warnings of all the Austria
Ran local papers. The export tables Of the month
Of April, therefore must bc considered not as the
bona fde standard of the recovery Of British indus
try, but as mere feelers thrown out in order to
ASCERTAIN what pressure the markets of the world
Are again able to bear. The following table contains
an account of the declared value of the British and
Irish exports in the three months ending 3lst OF
March, 1858, compared with the corresponding
period of the year 1857