The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-03-12
FROM OUR LONDON coRREsPoNDENE

! LONDON, FEB. II, 1898.
| The pressure of hard times is constantly grow
ing less through all Europe. The rate of interes
that went suddenly up to 10 per cent. in the Ban
of England, as you have seen, went down by tn
run, and now there can be plenty of money borrow
ed at ~ per cent, though the Bank rate is not a
low as that. The Bank of France has lowered it
rate from AZ to per cent, it having stood at tn,
former figure for the last two weeks. All new
schemes demanding investment get plenty of adven
turers, even the Sydenham Crystal Palace Compa
ny have got all their issue of stock taken up
(fl2O,000) and going ahead, just as if they haC
not actually sunk about every penny of the origina
| investment.
Your indefatigabe man of business Mr. Cyrus w
Field, is going progressively and rapidly with the
great Atlantic Telegraph scheme. 1t certainly does
not look very attering to the shareholders to read
that they have received of their funds (capitall
f347 1893, and expended f3Ol, 400, while there is
not foot of the cable down. But they have fshed
up 81 miles of the lost cable and expect to get the
rest of it. They find that for run of 100 nautical
miles they pay out LOG miles of CABLE loss of six
per cent They are going to make up 1900 miles
of cable in place of $500 hand, 50 as to run no
risk of being short, and the Agamemnon and Mag
ara are to begin together at mid ocean, next time,
and separating, steam for opposite shores
They have for their heavy expenditures their 2,
500 miles of cable, all of their original apparatus
and material, and good large slice of rather dear
bought experience. Still the public have no right
to charge the managers with mismanagement They
did every thing possible in matter of such great
weight, Importance and risk, and of those acc-
dents occurred that must sometimes take place. and
particularly when all is experimental without any
former experience or precedent to rely upon. Next
August all important information can probably be
flashed under old ocean from the rusty, antique
world of Columbus to the new one that he brought
to light by his genius and enterprise.
There is literally nothing new in the CONNER
cial world. | met yesterday brewer of some
celebrity for the good qualities of his ale who told
me he was constantly receiving larger and larger
orders for his sparkling beverage, from Yankee
land. He had just received large order from Bos
ton. have seen various indications of revival in
the hitherto almost PROSTATE trade with America
Consumption of foreign goods, and all superfuities
being greatly checked by the financial embarrass-
ments your side, all prudent and safe traders are
cautious in giving new orders. | will repeat, what
| have said before, and what one sees here every
day reason for believing, that there must be some
and realizing the actual possessions and assets of
bankrupt merchants in America, or the large COM
between that country and this must meet with
constant embarrassment, to the serious detrment of
the trading interests of both countries The old
style of trusting every body who can show one or
two "good references" and who in case of embar-
rassment or failure, will pay just much lit
tie as he pleases, will not do for the future.
/ send you in tabular form list of the principal
articles imported into Great Britain during the last
two years. with the uolue carried out for the year
1856. They are Reports of the Board of Trade just
issued. The heaviest item of expenditure that this
nation is put to for foreign product is the article
of cotton, for which Great Britain paid in 1856,
f26,44s, ,224. The next heaviest article is bread
stuffs about f24 900 000 of which, over sixteen mil
lion pounds were for wheat and wheat -four. For
fax the amount purchased in foreign countries cost
over f3 900, 900, and haxseed about G3, 200, ,O0O-
Wool figures for f8 26l 625, sugar and molasses for
fl2, 100000, tea for f5,24s, 1884, and coffee about
100000 For timber the expenditure was over
60 900 000 and for silk, and manufactured over
ell ,0OO 900 Wine comes in for over f3, 800, 900,
and tobacco for almost 100000 Of spirits
brandy, rum and Geneva" we import about nine
and half million gallons, (vaue e., 200 0OO) and
we export over 100000 gallons.
Some close differences respecting certain secrets
and tricks of trade, can be seen by comparing
closely the figures of exports and imports, and the
countries that carry the trade. The imports of
the article of Brandy into Great Britain from
France in 1856, amounted to $500, 100 gallons,
while Great Britain exported to that country, the
same year, 3, l55,580 gallons of British Spirits
Query-How much Irish or Scotch Whiskey was
sent into Bordeaux, got tnge of color from some
innocent source, and little brandy for flavor and
came back to Mr.. John Bull as irst-rate Otard or
Cognac? How extensively is that game PLAYED
with your decoctions and Installations of Indian
corn, "vitrio tobacco juice and strychnine ;; when
in transtu between the compounder and the con-
sumers voyage to the East Indies and back, is
supposed among English wine -bibbers to give addi
tonal flavor, body and value to choice Madeira
and very likely similar trip of the native Ameri-
distillstion, from the banks of the Monong
to the Seine, may turn "rot-gut' into "red-eye''
without once leaving the hold of the vessel, from
the time she leaves New York until her return from
Havre Pve come to be strict temperance man
myselfon the principle fselfproection and selfpre
servation, and have not the slightest compassion
tender regard for the feelings of the drnker who
will pour the liquid fire down his throat
| But was speaking of the foreign commerce o
Great Britain. l cannot recognise the figures Civ
ing the Exports and Imports, in the Annual State
ment of the Trade and Navigation of the United
Kingdom, issued by the London Board of Trade
The total imports of the kingdom in 1856 put il
value at fl72 2,544, ,l54. The total exports of thu
United Kingdom, reckoned at their declared value
and the customs duties, on imports, for the las
three years, are follows:
VALUE OF EXPORTS.
1855 1885, 1857.
f95,6ss,Os5 ELS, ,S26,94s fl22, l55,237
| CUSTOMS DUTIES.
| 1855. 1856. 1857.