The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-01-27
Efforts of the London Times to
Create a Feeling Against
the United States.
The Other London and Liverpool Pa
pers Refute Its Arguments.
The Only Danger is the Present Con6-
ton Of the American Currency.
Trade with the United States
Increasing.
.-.,---,--,-,-~,,~
The Bank Of Euslasd Csnld Not Pay fbr the
Z Ameriean Gotten Imported Last fear
AMERICAN REPUTATION TALKED ABOUT.
Views OF the People ON the
Financial Question.
AMERICAN STOCKS in LONDON.
DO. &c. DO.
Trade with the United States
Increasing.
Views OF the People ON the
Financial Question.
AMERICAN STOCKS In LONDON.
DO. &c. DO.


DO. &c. DO.
ANewER TO CoRREsro NDENTs.
from the London Times (Money Artcle), Jan. 10J
Subjoned are letters regarding the American trade in
which The writer's suggest that the statement that the
receipts Of produce from America SIN ulary small
must be considered erroneous face Of the cotton
walls that have lately taken place Su b. however, is not
the case The arrivals OF cotton during the past few
weeks have been of ra her exceptional Character and
such careful observer would take basis OF per-
manent calculation But set ing aside that point, even
II there prospect OF til r contnuan e, they would
extraordinary price Of the article is to be taken into
mt also must we look at the proportonatn increase
in the price Of the manufactured goods We have sent
tity Of manufactured goods consigned by us to New
York and The other principal ports was nearly times
great in the corresponding quarter of last year. and
tho value Of these goods consisting Of cotton, WOOL
SILK and fax, augmented beyond all normal rates by
the extreme cost OF the raw material Of VIII Gu we still
receive such inadequate supplies. Looking at these cir
cumsances and also at tho equally enormous shipments
we have simultaneously made to the United States Of
foreign ks dress Stuff aces and embroidery for which
require returns in the shape either of cash produce
TO enable us 10 discharge our liabilities on the Continent
tial regards cotton, have still been snguariy
small" II quite possible the majority of our shippers
may have obtained adequate remttances, but II seems
certain that If such I've the the for those
mtances must have been partly acquired by the sale q
securities on this side and that auementa
borne In mind 10 that in phatevr 10 ,s DIT may 10
represented IL eriaese and the possibility II is rcp,d
ss ' ssa me- sas sSa e sSs
unthinking herd Of spectators, commercial or financial
tho simple hint of the possibility Of approa hing
danger WILL OF course, be signafor raviug denial. It
10 In the year preceding tie railway crash II was 30
meeting demo need all who asserted there had been
ovcradng and that the Western Bank Of Scotland had
incurred any oyapao,y ana Il %,a an wSy sga y
qnstion Of ,tT buin' re ions dcross the Atlantic At
the same time one thing Is certaln-namey, that not
piu nav xpa1t-
wisher steady Of this two countries
will welcome attemp TO draw the attention OF
OF the people each side, mol " dsice pic urs n
tHisVoUe property tsa 10 tie actual dcll,1 that Y,
before Aen:-
I think there has been very important fac, gnotod
both In your City Article Of 9Th iust and tie lead
rics which req ire; correction and believing as DO ia,
II has boon only oversight your part m ts1ht
TO the public, take the liberty OF calling your attest
| thereto.
Liverpool for the Lass few months Of 1886. which hst
amounted 1906 149 bales (since tn 9Th Of 0ctob
sls Of Dcccmber, which, taken At the proc of twenss
pence por pound (Which is considerably below The aver
aCe) shows total sterling valae received from Aerca
Of e., es2 COZ to the oredi. Of the Ansr an trade
| LONDON Jan. 10, isas
False commercial views which lead 70 alarm are Ike
false alarm Of fire in crowded thea only Of FAR wider
injury and trust to your what is due 10 the
commercial public, which attaches much weight 10
all that falls from your pen. TO insert the following re-
| magks:--
L
Britain the United States In 1884 and 1895 for the
eleven months Of each year TO be fl3, 100 600 and
900 IN 1895 1894 and must be remembered that
| tho last few months Of 1894 months Of un isull
commercial depression and restriction Of business so
that the be considered indicating any
unhealthy expansion OF trade In this direction. is
eum and gold and silver by about ss 500 600 Inc ten
months OF 1896 than we did IN the corresponding ten
months Of 1854 but i win be fond that the imports Of
OF 1855 49, 900 bales against 600 bales In 1854
and that this will balance the account II 1t does not
leave debtors tbs respect values being ELS 900 900
and fs 900 600 THIS does not appear Ia the Board Of
! Trade tables which have, apprchcnd misled YOU but
I. well known TO all merchants and brokers, II not
\ We have no means Of claiming the cotton SO much
co coo SS ~ month";
worth at least $50 bale or 100000 per month, NO
mus, needs export srgly ard we have IN addition 70
for the corr hour petroleum, &c. that we may re-
calm Confederation of this view Of tho trade will
hope, have the effect OF modifying your opinions.
| rng WARNING REPRArED--rus PEOPLE ARE MOVING
TOO FAsT-REAcTIOS MUST FOLLOW.
| From the London Times Jan. IL
We cannot be surprised that the caution against
duo extension OF a trade proceeding on . c,cd basis
which lAtey addressed TO exporters 10 America should
be treated 10 some Sussess Wholly ur unnoossry
that doubt should be thrown upon the permanency OF
and they sure TO nd plenty 10 back
them In the unbelef which 80 gntefu TO their hopes
All sorts OF sinister interpretations Of what after ALL
mere commonplace warnings can be harsrded aud poi-
teal pref b. freely introduced TO disturb the
CON liberation Of a purely cconomc question We shall
very glad indeed " our caution proves unnecessary
through crcumspectness ON the part Ut or export
Inc ncrchants aud however unpleasant may 10 char
artcr OF false prophet are really TO be per uaded
that vaticnai,ons wcrc wholly uncaedsor We must
those We appealed ~ 10 support OF our eIhoraton e
caution. Our analysis Of the American trade was made
on tho trade aud navigation returns issued by the Board
OF Trade and until tcr accuracy In dsproved by some
authority Of equal wei9ht must abide by them II Is
no doubt easy 10 acgc facts In contradiction 10 these
turns. mon may with pardonsble daring, declare thai