The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-07-23


gue 10 slave dds II that noble lord should detect
any iudsposition the part Of foreign Power to pun
ish such prostitution Of their ensign, hs would no
doubt take make early and efficient representa-
ton the subject In order to prevent repetition OF the
offence Hear hsar He hoped that the OIL, would a,
tho utmost SUCCESS, which the best friend OF the nc
and the most determined enemy to the slave trade
desire (Hsar, hear.
The bill was then read second time.
The British Fleet In North America.
MOVEMENTS OF TIE VESSELS OF THE SQUADRON.
From the London lines, July
Letters received from British North America by our
Chatham correspondent announce several items Of i'm
portant intelligence respecting the Of the ships
comprising the North American and West India squad
The Aboukir 49, 091 TONS 400 horse power Capt. c.
F. A. shadwel, G. b. the Hero, 49, BIAS tons 600 horse
s S0U
Capt H. Caldwell C. b., and the MeIpomsne, 81 800 horse
power Capt +. Ewart, lott Halifax, Nova Scotia,
the 18th u for cruise as far Sheburne and Ship
Harbor the purpose of exercising the respective
the great guns after which understood they
Tho Cadmus, 81 400 horse power, Captain b. 8. Hill
yar Q. B., arrived At Halifax on the night Of the l4th
VII and the 81 sd 81 Gpai S:
Brunswick they had been despatched to undergo
necessary repairs. Her Massty's screw steamer
Desperate, 400 horse power, Commander J. F. Rose,
arrived at Halifax on the 17th ult
The paddle wheel Mcdea, g. $50 horse power,
Commander D. s. Preston, left Halifax the oath ult.
with Vice Admiral Sir Alexander Milne, K. c. b.,
board
The following were tho ships in harbor the 26h ut.
The Milo 90, 500 horse power, Captain E. X. Barnard
tho Cadmus 81 400 horse power Captain H. 8. Hlyar,
G. BIZ the Nimble S, 80 horse power, Lieutenant Com
Captain j. ). Kennedy G. b. and The desperate, < 400
horse power Commander j. f. Rose.
The Cotton Crisis and Trade OF England,
[From the London News, July IL
The prominence gvon to tho discussions the serious
sssa Of ~ s a sa 1 ~
alarmed Last week recorded an advance Of about
twenty per the value Of al kinds Of cotton in the
amount Tho Liverpool market has been "wiid J" and
degree OF excitement only parasled within the memory
prevailed Il is now certain that further large
will occur in the production OF goods AZ the price OF the
material has reached prohibve point, considered
relation to tho rates obanabls by manufacturers for
their goods This means OF course, that there will be
further considerable reduction Of employment, and
lives shut out OF the mills The total stock Of
cotton in port at Liverpool il now computed
At only 1880 bales against !;lo7 $50 q the
week tho speculation betrayed some signs OF tagging
NATURAL considering the enormous advance which hs
sors Who dsruss the chapter Of aecsnts have shown
disposition realize their profits mindful perhaps OF
rvmor Of assd.otion or other form Of arrangement in Aus
RIGA 10 u disseminated BY the not TOO ueyacioss telegraph
a back upon have run up the market with grsa. ardor
during last fsw days the inn ression has become gene
raj, that buy hold cotton on speculation At its
present prices means gambling In It's most reck-
| less form compared with which time bargains in
esnsols become sober sort Of business, and even
transactions in Spanish certificates are almost free
from risk Cotton stands at this momeu In the market
ut thrice normal value and the prices Of manufac
tured goods have Jagged far behind though raised to
10 highly probable that soon as the spectators have
become Of dealing with another and the
ing has gone the way natural 70 all manias, the
silence Of death will fall upon the Liverpool
| ket We cannot pretend prophctically to affirm that
there win be any material relapse In prices for apart
q sudden of
the struggle in America there no prospect Of but
limited supply, and II Is upon the absence Of supply
that the rise IN the price s mainly based. Still
1t clear enough that the spectators will soon be
i left TO play among themselves with the remaining
stock OF cotton Apart from the hazard OF the game,
| the manufacturers will be obliged to fold their
hands and look for the spectators have II last
ceeded 10 saoaidering them out the markst 10 put
be able to calculate With absolute certainty that he has
only working up cotton at its present prices and
selling the goods made from il at their present prices
he will inaiby succeed In making loss At the
of many thousands year, without carrying On By any
extensive transactions. Consequently, upon the
scnsibly commercial principle that is better
business all than 70 do It at loss spnners and
arseIy than they have hitherto done and viii ieav. the
cotton spectators to kick the ball about among them
selves The more prudent Of the latter are apparently
becoming alive TO the approach OF period OF complete
nac.ion aud not forsssfu Of the dangers involved
IN the vast amount. Of speculation now in existence.
Is Of little avail now, however, 70 join in chorus Of
censurs Of the employers We spoke pretty freely
pecially some tmo ago, when the adoption Of remedies
precautions would have entirely prevented the pre-
sent collapse OF the trade IL Ii vain TO indulge In
rsproaches recrimnations The most lamentabe
turs Is that, when the trade Is starving, talk
ing and writing all the fashion, while OF real RENE
dial action there absolutely Among the London
Of the cotton inrsrsst has always secn more 3y and
practically appreciated than In the northern Of
the trade there are men OF high position and large
sivey in the sort Of enterprise needed, and what Is
moro, W draw the mopeyed public after thsm provided
ly 10 tho wheel. This Indispensable preliminary
aud the cotton men do not Their apathy il such
ton spproachss them and says 1--WE are organizing cot
ton agencies all over India supply US with the
Just the same sort OF answer given 70 another
citation, which says, ave have successfully commenced
cotton growing in jamaica the nrst crop OF expert
mental plantations Is before you and has been grown
welcome TO inspect Give US. then, the means for OK
| tending operations and furnishing you In few
| months with a'large supply
Iwoud really appear that, when relief comes 70 the
cotton trade, viii not come from the efforts Of the
Manchester men, nor yet from public meetings public
companies but simply from the slow yet operation
Of those sfabls laws Of commerce which some Of the
advocates Of the manufacturers strangely con.
worth IxsSsmcnE II speschmslns and lon weight
Of letter wrting--ccaon y worth trsok IL ordinary
price Each mail from England will din this IN the
world and will add fresh that not only the
last crop Of American cotton daily becoming less avaa
be- and less likely be available but that there
will be American crop worth speaking OF next
The chance Of an nundaon Of cotton fm the old slave
ridden 10 rapidly disappearing, aud the induce
msnt 70 grow the article elsewhere increases In proper
ton II rise Of some 200 per cent above lie normal
value does mot increase the supply Of commodity which
VIII grow vast belt Of tho globe, there no truth
10 the laws Of trade or Of supply and demand, end oil our
commercial notions false. The supply, under thii
forcing action will assuredy como, but the evil 10 that
owing the apathy Of the trade, ID will not come In ade
quate quantity until after prolonged delay, which wI
ya sorsy ass ne capital and subaaacs Of ne country ond
| smpoverSsA Ne population.
i
The "Pourth OF july I'm London.
| LETTER FRoh Nh. ADAMS, UNITED STATES MINIS
| TER.
from the London American, July o.
A desire having generally been expressed among Anne
ricans resident In England that the anniversary 9