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Leader (1850-1860), 17th September 1859, Edition 2 of 3, Page 22, .Friday' Evening. Wb have no important a...

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      The Cotton Trade. I 1st Treating Of The ...

      last week * the value of the woollens and worsteds exported had increased between 1829 and the average of the last three years nearly three-fold-In the same interval the value of cottons and cotton yarn exported has increased only from . £ 17 , 394 , 583 to £ 40 , 102 , 495 , or not two-and-ahalf fold . The per centage increase of woollens and worsted exported is , 170 of cottons , and yarn 133 . Mixed fabrics , of which we have no discrinunatin ° -return to teUusOfthe quantity of cotton and wool used in . them , may alter in a slight degree these proportions , but there can be little doubt that the progress of the woollen manufacture since the restrictions were removed from the trade , has been more rapid even than the cottonmanufacture . The following are the exact figures of the ^ declared value of the cottons exported in 1829 and 1858 : — Cotton Manufacture . Yarn . 1829 .... £ 13 , 420 , 544 _ £ 3 , 974 , 039 ¦ Together ..., 3 Q ^ m * ' ' 8 , 028 , 575 li ?" " wlaVBXL 8 : 700 , ' ¦ lie :::-: 3 & £# & 9 , 579 , 479 03 , 988 , 840 26 , 308 , 643 . 31 , 332 , 947 8 , 769 , 548 Together .... 40 , 102 , 495 Increase since 1829 ^ 22 ^ 17 , 912 133 per cent . Cotton is the product of most tropical countries , and of countries near the tropics , or may by labour be obtained in them . Our chief supply , to the extent of nearly eight-tenths of the whole , is derived from the United States . It is not supposed that the soil and climate there are more favourable to its growth than other places , but being equally favourable the energy- of the Americans \ and the invention of machinery to cleanse the cotton , have given them almost a natural monopoly of the European markets . Considerable quantities * however , are imported from the East " and West Indies , the Brazils , the countries on the Mediterranean , and other countries . We copy the quantities imported for the last three years from the different p laces , in order to show the proportions .

      Lnfifi Thi Lkaier. Tno#495* Sge^. 17, 18...

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      Jj Es F—> Rj «^- Erf* ¦ Ejf Os Co *-H 3 ...

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      Froni All These Countries * Then, Tho Su...

      Froni all these countries * then , tho supply varies , and it is generally noticed that in proportion ae it is small from the United States it is large from other countries . The States command the market , and , as the rule , when tho crop is short there , and the article commands a better price , it becomes additionally advantageous to import it from other places . Tho wide range from whioh this bulky article may be and is profitably imported , together with the continually moreasea supply ,, gives us n pleasant prospect for the future . In truth , all such raw materinls being the product of labour , there -ib no bounds to the supply . Wool is the product of a still wider range than oottan , and everywhere , na countries ore peopled , the necessity , of food seems to ensure a continual inorea . se . of woolboarjuog animals . We hold , therefore , " that the

      many apprehensions continually expressed we find of their being a want of . raw materials for our fabrics are quite unfounded . . Individual manufacturers very naturally desire to ha-ve these materials abundant and at a low price , but it is not for the interest of the public at large that these should be comparatively lower in price andmore abundant than other commodities . Tne 7 are clearly not more important than food , and political measures to promote the production of them cannot fail ,, however well intentioned , to impede the production of other things equally useful , and derange the natural relation of supply and demand , by which all production is regulated and fairly remunerated . We

      deprecate all such apprehensions as leading to a desire for Government action , which never is applied to trade without creating disorder . The apprehension at present , encouraged we regret to see by very respectable writers , is , lest our manufacturers should want raw materials . Formerly the apprehension was , that food would be scarce ^ and which was the pretext for giving the landlords corn laws ; and now similar apprehensions , if we be not on our guard , will be made the pretext for giving the manufacturers ' laws to promote the growth and supply of raw materials . To . make trade the object of political encouragement is to excite national jealousy and rivalry , which cannot arise from the mere success of individuals . Naturally , trade is wholly independent of political relations , and . to draw it within them makes it obnoxious to national envy and political hostility .

      Money Market & Stock Exchange

      MONEY MARKET & STOCK EXCHANGE

      Friday Evening. Mo3tex Continues Plentif...

      Friday Evening . Mo 3 tex continues plentiful , and the market is easy . The terms on which the best bills can be discounted still continue a fraction below the Bank rate , and as long as this is so the Bank rate is not likely to be enhanced . It continues to receive bills , but the demands on it are not extensive . The Money Market being easy the funds have continued tolerably steady in the week . They were firm to-day . The scrip of the Indian JuQan continues to bear the high premium of 3 per cent . Gold is going into the Bank , and will be recorded in the accounts which we publish below .

      The important news from China in the week had no other effect in the Money Ma ' rkei than to cause a slight decline in the funds , which was soon recovered . ~ Eox the moment it was supposed that it might check the flow of silver to China , but this notion was at an end when it was asserted that the quarrel between the Governments is not to interfere with the trade between the Chinese and the English . It is a singular circumstance that while the war was formerly carried on the trade continued , and our people , with the general approbation and certainly with the consent of the Government , contributed to nourish the Queen ' s enemies . They even collected for the Chinese Government the revenue which was employed to resist our approach to Pekin . " Will this very curious anomaly be repeated ? Will the English merchants , trading to China with general approbation , commit treason .

      BANK OF ENGLAND . An Aooount , pursuant to the Act 7 th and 8 th Victoria cap . 32 , for the week ending on Wednesday , the 14 th day ofSopterabor , 1859 : — IBJ 9 UE DEPARTMENT . Notes issued £ 30 , 804 , 085 Government Debt £ 11 , 015 , 100 Other Securities .. 3 , 459 , 900 Gold Coin ^ Bullion 10 . 419 . 08 S . Silver Bullion £ 30 , 894 , 086 £ 30 , 894 , 085 BANKING DEPARTMENT . I'rpprietora' Capl- ¦ Government Seou- ¦ tul £ 14 , 653 , 000 ritiea ( including Rest ..... 3 , 710 , 787 Dead Woljfh ^ Public Deposits ( In- Annuity ) . £ 11 , 220 , 018 eluding Exche- Other Securities .. 18 , 057 . 101 quor , SavinffB' Notes 9 , 831 ; I 8 ! . ' 5 Banks , Commie- Gold and Silver slonera of Na- Coin 701 , 137 tlonal Dobt , and Dividend Accounts ) , 8 , 508 , 022 Othor Deposits .... 13 , 071 , 010 Seven Day and other Bills 860 . 202 £ 40 , 712 , 041 £ 40 , 712 . 041 M . MARSHALL , Chief Cashlor . Dated September 15 , 1859 .

      General Trade Report

      GENERAL TRADE REPORT

      .Friday' Evening. Wb Have No Important A...

      . Friday' Evening . Wb have no important alteration In the corn markets to notice . Thoy are generally steady , rather with a tendency upwards than otherwise , from a

      notion that the yield of the harvest is not so thoroughly good as was expected , and from the weather at present being less favourable than in some years for preparing 1 the ground for the next crop . The gentlemen who influence the market ' s take . long views and calculate the chances of the coming crops on the best information they can get as well as the yield of the crops that have been ' gatherered . The Manchester markets , and others -which have much trade with India , have been slightly affected by the news from that , quarter , which , considering the mutiny of troops , the quarrels of civilians , the objections made to the Governor-General , or , as he is now called , the Viceroy , the discontent at the newtaxes , and the general feeling of uneasiness which prevails , is not very favourable to trade . Otherwise the general business of the country continues goodso good and so equable as scarcely to leave anything worthy of especial notice .

      A speculation on tallow , which has been going oa for some time , and this being an article of which long purses can command the market , and in which , in consequence , speculation i & generally rife , lias now ended in breaking two or more houses at St . Petersburg which have connections in London . The gentlemen will , no doubt , get speedily whitewashed , and go on as before . We can but rejoice , however , that mere speculation has of late been remarkably dull . Sugar and coffee are quiet ; the price of the latter has rather a tendency downwards . A good business doing for consumption in both articles .

      The news from China has caused great agitation in the tea market . On the first announcement all teas were withdrawn from the market , as nobody could tell what would be the result of the disastrous defeat . When it became probable , however , that trade would not be stopped , teas were again offered , and considerable purchases have since been made at higher rates . - Common Congou . was purchased at Is . 4 £ d . short , which is a rise of 3 d .-within a short period . Xfc has not reached this all at once , but the price has . been hardening for some time . Our trade is , however , now so very extensive , and spread over so many countries that a temporary interruption of the trade with one—though it be as important as our tea and silk trade with China—causes only a very slight abatement of the general welfare .

      Prices Of The Principal Stocks And Share...

      PRICES OF THE PRINCIPAL STOCKS AND SHARES AT THE CLOSE OF THE MARKET . Last This "Week AVeek STOCKS . ' 3 per cent . Consols—Money »•>« \ ' ? M Ditto Reduced '•>!> $ - " # Ditto New 'M M BankStock , ^ India •• > Exchequer Bills , - ;* ~ 5 , Canada Government 0 per ceut . Jj «> : } ' - ? New Brunswick Government 0 per cent . .. 110 A i-W New South Wales Government 5 per cent . W 4 jm South Australia Government 0 per cent .. 10 'J i < JJ Victoria Government 0 per cent - JiW Austrian Bonds , 6 per cent . "t Brazilian Bonds , 5 per cent .. 1 ( > , « „ ,. French Rentes , 8 per cent <'" 5 080 ° Mexican Bonds , 3 per cent « " * I ' qruvian Bonds , 4 j por cent » vt " nut Spanish Bonds , 3 per cent 2 «* * ! j | Turkish Scrip , 0 per cent »* DlJ * RAILWAYS . ' 08 Bristol and Bxeter W >* 85 * Caledonian ...,. £ « J , m Eastern Counties M * 01 ) * East Lancashire ., „ , ;* iniji Great Northern 10 (; f % i . „ Western « ° J ' , $ Lancashire and Yorkshire «>» i $ London and Blaokwall M ?? . ? London , Brighton , and South Coast u * .,,. 7 London andlSorth-Western ; 'f $ * London and South-Western ''•;; , -, XT ; Midland 1 O . T * Kl North British * 00 ! °° * North Staffordshire , / f < 3 . r Oxford , Worccstor , and Wolvorhiwnpton .. J ' i £ touth-Eiistorn .. , <« , v » outh Wales . GJ Bombay , Barodn and Central India 1 ™ *? „ Calcutta and South Eastern • • w . fa Eastern Bengal ¦ •¦•• , „ , '" nfli Host Indian . * ' oil Groat Indian Peninsula ^ y ' ttiidriw v u Soindo . •" ' r , a Buffalo and Lako Huron , / . ' gii Grand Trunk of Canada •>•> 137 . Groat AVoHtorn of Canada . h > " Antwerp and ltottordain 'ft , r , M 3 utoh lthonlsh , X o " ) fflastorn or Franco ~ , i n < t jtroat Luxemburg-........ JJ ] ] * , ) ¦ Lombardo-Vonotian .., " >[ v % f Northern of Franco j { ' 4 «¦) Paris , Lyons , and Mediterranean J " qj Paris and Orleans ! ,, ' . yoj 3 outhorn of Franco f , ' * « : » Wosrorn and Xortln-Western of Franco .. - » , - * ox . aw . , ,

  • Citation
    • Leader (1850-1860), Sept. 17, 1859, page 22, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_17091859/page/22/