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Northern Star (1837-1852), 9th October 1847, Edition 1 of 3, Page unpag, Untitled Article

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      Untitled Article

      ind silver , leaves not a shadow of doubt on the rebject . Bat what brings home the effects to an excess in the emission of paper , and its consequent depreciation more conclusively if possible , is their having happened precisely in the time , the decree and the manner that might have been expected . Supposing the whole of the specie to have amounted to fifty millions * in February , 1797 . The . first emission of piper , to the amount of these fifty millions , could have had no other effect than to -force the specie out of circulation , and to take its 'place . Thus far the minister would have had the -aid of fifty millions by this operation , which the

      public seem never to have thought of , and the nation would have exchanged a sterling , solid machine , indispensably necessary for circulating in transferable property with security , for a paper machinery of no intrinsic value , and as such utterly unsafe and unfit to be the measure of property . As by this substitution , the amount ot the circulating medium in use , would remain the same , the first emission , as far as these fifty millions of paper , could not have experienced any depreciation ; accordingly it was not until about the beginning of 1798 that the effects of this depreciation began to be felt . The funds , which in February , 1797 , were at fifty-three , followed the regular natural course that might have been expected , and gradually sunk ; specie was growing more scarce ; but when the emission of paper

      had passed the point of mere substitution for the fifty millions of specie , the depreciation began to make its appearance ; The funds which bad sunk to fortyseven in the beginning 1798 , gradually rose after eight years of the most expensive war ever recorded , to sixty-seven ; gold was at a higher premium , and all sorts of commodities experienced a similar rise ; all exhibiting additional proofs of excess and depreciation , by the time , the degree , and the manner in which they made their appearance ; whde from the nature of the disease it must go on increasing , like fiie pernicious habit of dram drinking , every excess leads to a greater : the more paper that is issued , the less is itt value ; where as in a dropsy , perpetual thirst , perpetual repletion , the patient goes on till he bursts .

      At a moment when there cannot remain a shadow of doubt , that these inducements , these violent propensities , arising from interest and necessity in all descriptions of persons , from the government down to the lowest trader , have operated this mi . sons excess and depreciation in the circulating mediam ; when it is found that this aptitude in the whole nation to fall into thi 3 ruinous excess has had its effect , are the people of England rightly informed of * he real situation they stand in ? Was there ever 8 ministry whose genius or talents were less adequate to the great crisis at which these were chosen ? Have these men who have great stakes in the country reflected on the nature of the mine that has

      been worked under their feet , by which their pro . perty is hourly menaced with total subversion ? Have the saber , thinking men of Great Britain weighed the extent of the bankruptcy into which the nation is sinking ; a bankruptcy that must extend to every crevice where circulation can enter ? The direct effect of a depreciated paper circulation is too evident to need much explanation . The revolution in fortunes is obvious ; all property which was sterling becomes liquidated at a half , a fifth , or a tenthf of its original value , according to the degree of depreciation the paper currency shall have attained . The public creditors who lent their sterling property , on the faith of the nation , instead

      of the full stipulated interest for which they conditioned , receive but a half , a fifth , or a tenth , as the evil advances . The rents of lands and of houses experience alike diminution ; the revenue as it swells in bulk , sinks in value ; while the loans in a depreciated currency reduce the stocks to waste paper , and hurries on the accumulation of debt at a rate which insures a national bankruptcy by geometrical acceleration ; effecting a revolution in the whole state of property ; where the swindler , the spendthrift , and the desperate adventurer gain a temporary relief ; and the industrious and prudent , whose fru . gality has accumulated that sacred fund to which Great Britain owes her wealth and her greatness , are plunged into the depth of adversity .

      These are the effects that have ever attended a depredated paper medistn ; and in proportion to the extent and activity of the wealth and industry of England , in proportion the effects must be dreadful ; but as a manufacturing nation , depreciation in the circulating medium is peculiarly fatal . Wages and the price of raw materials augment with the depreciation , as do provisions , lodgings , and every necessary . The capitalist , who advances these extravagant prices for the materials , and those increased wages , can have no interest to engage his capital in employing tradesmen , if he does not get a proportionate price for the manufactures ; as the depreciation in the circulating medium-increases , so must the price of the manufactures .

      The greatest writer on political economy assigns the depreciation of specie in Spain as one of the principal reasons why she is so little of a manufac--taring nation . Specie is of more value in the rest of Europe and of less in Spain : but this depreciation is nothing in comparison with this paper depreciation which exists in England , with the still greater which must heritably follow . With all her advantages , and she has many , how is it possible she can continue to undersell those nations where gold and silver continue to be the sober , solid , sterling measure of property ? How shall she prevent ,

      by and by , other nations , with this single advantage , from underselling her in her own market ? Of all the means that could be devised to destroy a manufacturing nation , adulteration in her circulating medium is the most efficacious ; for this plain reason , that let the manufacturers have been brought to the highest pitch of perfection ; let them have every other advantage , once that the circulating medium has suffered a considerable depreciation , no man can continue to employ his capital in manufactures , who will not submit to the loss of the whole of-his profits and a part of his stock .

      If the prospect in looking forward is frightful , that which presents itself in looking back is not less dreadful . Let us suppose for a moment the resolution taken to go back to the solid basis of gold and silver , and that all obligations in paper were again subject to the good old law of paying in specie . What a chaos ! What an Augean stable !! All the debts that have been contracted , all the bargains that have been made , all the contracts that have seen engaged for , all sorts of business that have been transacted by the standard of depreciated medium , at a third , a fifth or a tenth of the sterling value , to be paid with gold or silver ; that is to pay three , five , or ten times more than the value which had been given , while fifty millions of the active capital of the nation must be sunk to purchase gold and silver to replace that which was forced away by the paper emission .

      It is obvious , that the first effect of such a resolution to return to the standard of specie , would be as on every like occasion , of which history makes any mention , the total and instant discredit of the wholeof the paper ; so that , as Sir James Stuart observed on a like occasion , ' a man might starve the next day with one hundred millions of paper in his pocket . ' So inveterately ruinous is that solid system of finance of the late minister , whether we look back or forward , presenting difficulties so vast , so complicated , that his successors , perceiving that they have waded so far in ruin , will find it easier to go on than to return ' . Here then is the true , the naked exposition of the so much vaunted resources and finances of

      Britain ; here is a detection of the shifts and frauds oi the late minister , whose praises have been sounded by so many venal voices throughout Europe , and reechoed by so many ignorant credulous dupes . Reduced to his just value we see him raising sixty-six millions in the four first years of the war , by holding up to the imagination of the goad people of ^ England , a constant succession of the most frightful . pictures of revolutionary horrors , while he himself was acting the part of the most active revolutionist

      in Great Britain ; alarming the rich that they might the more readily fill his loans and subscriptions , by setting forth that a vast portion of their countrymen were incorrigible Jacobins and revolutionists , -whilst plots , assassinations , and insurrections were played off from time to time to keep up the alarm , with all the address , managemont and stage effect that might suit the profession of a charlatan , but for ever disgraceful in the minister of a great nation .

      In the nest five years he has made away with 175 millions more , by means hitherto unknown in the annals of Britain ; and which have been so fully explained , as to leave no doubt of the ruin be has brought on his country . After having played sliehtof-hajid with the whole specie of England , and having laid the foundation for inevitable bankruptcy , Ifr George Rose valaed the gold in circulation before the 26 th of February , 1797 , at £ 13 , 950 , 042 . I have taken the whola . gold and silver at fifty millions . f In France the paptr was at a depreciation of 6019 lir . for a lonis d ' or . and in America mill Inwer .

      by the law which has substituted paper for gold , profiting by the first run of the new circulating me . diura , he has quitted the ministry at the moment when depreciation began to make its appearance , leaving kis successor to struggle with the disgrace of bankruptcy and ruin .

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      ANTI . GOLD-LAW LEAGUE . On Monday a public meeting in behalf of the objects of this Leagie was held at the Rose aud Crown , Brook-street , Brick-lane , Spitalfields . Mr SeRBELL , solicitor , was called to the cbair . Mr S . C . IIorrt , barrister , entered into a long detail of the evils consequent upon the working of tbe present system . He considered that the subject was more particularly applicable to that portion of London , as there were so many tradespeople resident in the locality , and it was ia consequence of that , he had come out with the first « f his lectures on the subject in that district . Many causes had been assigned for tha present distress . At first it had been attributed to a decrease of food , althousk

      it had been proved that there was an ample sufficiency of food for all the population of the country . Then it was said that the population was too numerous for the capabilities of the country , and consequently a scheme of emigration was eonmenoed , a most unjust one , as he thought , as by placing the monetary system on a proper footing , the country nas sufficient to supply all its population . The great defect in the system was the present currency laws , which had the effect not only of lowering the wages of the working map , but of robbing the finances of the country , by giving the foreigner the pewer to purchase our gold when goods in this country were at ahigh price , and of purchasing our goods when gold was at a low price . The lecturer then went on to show the depreciation which had taken place in the wages of the working people , as well as in the circulating medium of the countnr . bv the aA » nf . inn

      of a gold instead of a paper currency , showing that the loss to the country , occasioned bj the drain of our gold by foreigners , amounted to sixty millions of pounis yearly . He also contrasted the high rate of wages paid during the war , when a paper correnciy was recognised as the circulating medium besides that allowed now , and contended that were the gold currency done awai with , and the paper currency introduced , it would tend not only to benefit the working classes , but the trade of tbe country generally . In proof of this he instanced the time of the war , when the paper currency wat in existence , and when tbe wages of the working classes were much higher than they were under the present system , and concluded by urging tbe propriety of returning to the same medium of circulation as the best means of benefiting the finances of the country and more especially the labourist : classes .

      Mr Watsito attributed the caase of the present distress in the commercial world to the over-speculation of parties engaged in it , and considered tint were the working classes more fully represented in Parliament than they were at present , so thai they could have more power in legislating for themselves , they would be placed on a much better footing , and made independent of the fluctuations of the currency , which had been so much dwelt on by the lecturer . ( Cheers . ) A vote of thanks was passed to the chairman , and the meeting , which was very numerously attended , then separated .

      CO-OPERATIVE LEAGUE . A tea-party * and jot ' ree to promote the objects of this society , took place on Monday evening , at the Central Hall , King ' s Arms-yard , SnowhiU . Mr W . Howitt in the chair . The room was tolerably well filled , a large number of the company being females , and several speeches were delivered in furtherance of the views of the league , which , in theirown words are to ' supersede selfishness by universality—undue restraint by full individual liberty—antagonism by peace—competition by brotherly love , and thus a state of existence may arise founded on the principles of wisdom and goodness , yielding its fruit in the happiness of every member of tbe human family . ' The following resolutions were adopted : — Moved by the Rev A . Baynes , seconded by Mr Good , wyn Barmby : 'Co-operation a human brotherhood-May tha present disastrous state of the commercial

      world , brought absut by the competitive modes of life , lead men to petceire that anarchy and confuiion must ba continually recurring where antagonism and individual interests are allowed to exist . ' Moved by Mr Jam * ¦ on , seconded by Mr Alexander Campbell i 'Monetary reform . May the people speedily exert themselves to devise and adopt a currency that shall posaeai the quality of being unchangeable in its value , and co-exten , jive with the exchangeable wealth of the nation . ' Moved by Mr Walter Cooper , seconded by Mr Roberts : 'Our co-operative brethren in America and ether parts of tbe world . May the offers recentl y made by the friends of co-operation at Cincinnati be the commencement of a series of exchanges carried on in the spirit of brotherhood between the different nations of the earth , burying in oblivion the hostile spirit of rivalry whieh has hitherto existed , and leaving men to recognise the beautiful privileges of universal leve and goodwill . '

      CURRENCY REFORM . Ob Monday evening a meeting , convened by the Currency Association , lately established in Binning ham , was held at Dee ' s Royal Hotel , for the purpose of considering the best course to be pursued to secure the early and effectual attention of the new House of Commons to the engrossing question of the currency . MrR . Martineau . the mayor , took the ohair . Therehas long existed in Birmingham a hostility to the Currency Bill of 1819 , but on no occasion has it exhibited itself as at this time in a combined form , or by a union ofparties , irrespective of political fealing . There were present Mr Munfz , M . P ., and Mr Scholefield , M . P ., members for the borough ; Messrs Newdegate and Spooner , members for the northern division of the county , and others , who spoke to the ollowing resolutions : —

      That the existing depression of trade and commerce , as evinced by the numerous failures of houses of undoubted solvency , is attributable to the restrictive and unsound monetary system established by the acts of 1819 and 18 U , which injuriously Interfere with all mercantile engagensati , rendering the same course of action which is at one time prudent and secure , at another time entirely nineus . That a single deficient harvest would have affected materially the great interests ef the natitn , had not the evil of scarcity of food been aggravated by an artifioial scarcity of money , producing a forced and unnatural depreciation in the values of com . modlties and other property , and a sudden aad extreme

      increase in the rate of interest , and leading to the withdrawal of the usual banldag fasllities from parties engaged in certain important branches of trade and cum . merce , and the consequent limitation in the demand for latxrat . Tbat a monetary system whlca necessarily breaks dowa under the effoats of a limited exportation of gold for the needful sapply of food , producing from such cause a general derangement of trade aad commerce , and an enormous depreciation in tbe values of property and commodities , thus greatly increasing a national misfortune like that of a bad harvest , is violeui in principle and destructive in its operation to the well being of the community .

      That the arguments now being used to mislead the public as to the effects of the expenditure of the money in railway works and other undertakings of a national character , and to withdraw the attention of the mercam . tile and trading classes from the real evils under which they are suffering , are of uo value whatever , and can only be takes as an evidence that , in the present position of tke country , the monetary means are net afforded for the profitable employment and maintenance of the population . That in the opinion of this meeting , justified by tha history of the present century , this country , so long as its mercantile and trading operations are net limited by unnecessary monetary restrictions , is fully able to bear an expenditure equal to that required for the construction of railway works , inasmuch at that it has borna , without iajury or derangement , a much larger expenditure for carrying oa a protraoted war , and for other purposes not likely to bacome productive . That the necessary expenditure for making the railways

      sanctioned , after mature deliberation , by parliamemt , has led to the employment of a vast amount of labour In various partt of the United Kingdom , and to a consequent demand f « r provision ! and unmanufactured arti . cles ; and that no complaints of the pressure of railway calls were made until tbe general buainaaa of tbe nation was sullenly an ! injuriously afffcted by the restrictive operations of the Bank of England , rendered necessary by the provisions of the acts of 1819 and 1811 . That the same restrictive monetary policy has been attended with the same disastrous consequences in former years , when no expenditure for railway purposes was proceeding ; and that , although ia certain cases the employment of large amounts of money for particular objects may lead to some temporary inconvenience , the evils under which the country is at present suffering can be attributed in only a very trifling degree , if at all , to the railway undertakings now in progress , as those undertakings can but slightly aggravate the difficulties axiilng from other and more permanent causts .

      That it is the deliberate opinion of this meeting that the executive government will incur a aerleua responilbility unless they at once propose and carry into effect some temporary measure calculated to restore the monetary means and the eredit of the country to an efficient state , and thus to relieve the commercial and trading classes . The relief and assistaace have been afforded in former periods of extreme national dangar and difficulty ; and that there has been no occasion during the last fifty years whea such relief was more imperatively required than it is at this time . That the demand for labour is rapidly diminishing in the manufacturing districts ; and that it will be extremely dangerous farther to neglect those remonstrances which have been already address ed to members of the government , with the view of inducing them to preserve the nation from the serious evils which would follow the general suspension of employment .

      ... That while measures of a temporary nature are re * quired to remove that most severe distress and suffering whieh tbe population are noir experiencing , and to avert the more serious consequences with which they are thmtsatftlCU tesDwtaattlittt tbq nwaetary uqUmq

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      the country should undergo a fair and searching inquiry btfora a committee of the House of Commons , Tbat it is recommended by this meeting that immediately on the assembling of parliament petitioas praying forthe appointment of such committee should be forwarded from all tbe principal towat and public bodies in the united kingdom , Tbat such an inquiry it rendered absolutely necessary now that the principle of protection to native industry has been abandoned , and now that it has become painfully evident tbat the Interests of all classes , the debtor and creditor alike , can only be permanently secured by the establishment of a sound monetary system , capable in its operation of sustaining and extending tbe mercantile and trading transactions of the nation , and calculated to prevent those extrame and dangerous fluctuation ! which are the natural and inevitable results of the exUtinc system .

      That the committee of the Birmingham Currency Reform Association bs requested to communicate the forgoing resolutions to her Majesty ' s Ministers , and to forward copies of the same to the members of both houses of parliament .

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      is » THE FREE TRADE C 0 N 6 RES 3 AT BRUSSELS . ( From our German Correspondent , ) Oa the 16 tb , 17 th , and 18 th of September , there was held here ( Brussels ) a congress of political economists , manufacturers , tradesmen , &c , t * discuss the question of Free Trade . There were present about 150 members of all nations . There assisted , on the part of the English Free Traden , Dr Bowring , M . P ., Col . Thompson , M . P ., Mr Ewart , M . P ., Mr Brown , M . P ., Jonas Wilson , Esq ., editor of the Economitl , &o ; from France bad arrivedM . Wolowaki , profcaaor of jurisprudence ; M . Blanqui , deputy professor of political economy , author oi a UUtory of that science , and other works ; If . . Horace Say , son of the celebrated economist ; M . Cb . Dunoier , aumbetof the PrWy Council , author of severaliworks upon politics and economy , and others . From Germany there was no Free Trader present , but Holland ) Denmark , Italy , &o ., bad sent representatives . Seaor Ramon de la Sagra , of Madrid , intended to come , but came too late . Tbe assistance of a whole host ef Belgian Free Traders , need hardly be mentioned , it batog a matter

      of coarse . Thus the celebrities ef the sclenoe had met to discuss tbe important question—whether Free Trade would be . nefit the world « You will think the discussions of each a splendid aiiembiy—discussions carried on by econo . mical stars of tbe first magnitude must—have been interesting in the highest degree . You will say that men like Dr Bowring , Colonel Thompson , Blanqui and Du . noyer , must have pronounced speeches the most striking , must have produced argument * the most convincing , must have represented all questions under a light the most novel and aorpriaing imaginable . Alas I sir , Jf yon had been present , you would hare been piteousjy tradecalves ' . Your glorious expectations , your fond illusion * would have vanished within less than an hour . I have assisted at

      innumerable public meetings and discussions . I heard the League pour forth , ttieir AHti . Corn . Law arguments more than a hundred times , while-1 was in England , but never , I can assure you , never did . I , bear such dull , tedious , trivial stuff , brought forward uritt , such a degree of self-wmplacBncy . I was never , before so disappointed . What was carried on did not merit the name of a discussion—it . was mere pothouse talk . The great scientific luminaries never ventured themselves upon the field of political economy , in the strict sense oJ the word . ' I shall not repeat " to you all thei ' worn / out stuff whloh was brought forward on the first two days . Read two ' or threo numbers of the Ltagut or "' the JtW ehater Ouardlan , and you ' will find all that was said , eseept , perhaps , a few speciens sentences brought forward by M . Wolowski , which he , however , had stolen from Jl Bastiat ' s ( chief of the French Free Traders ) pamphlet of 'Sophismet Economises . ' Free Traders did not ex . peetto meet with any other opposition but that of M

      Klsslnghausen , a German Protectionist , and generally an insipid fellow . But up got M . Duphateau , a French ma . nufacturer ami Protectionist—a man who ( poke fer Ma purse , just as Mr Ewart or Mr Brown spoke for theirs and gave them such a terrible opposition , that on the segond day of the dfceossion , a great number , even of Free Traders , avowed that they had been beaten in argument . They toek , however , their revenge at the votethe resolutions passed , of course , almost unanimously . On tbe third day , a g «« stion was discussed which in . terests your readers . It wai this : « Will the carrying out of universal Free Trade benefit the working classes f The affirmative was supported by Mr Brown , the South Ltncwhire Freo Trader , in a length y speech , in English j he and Mr Wilson were the only ones who spoke that language , tbe remainder all spoke French—Dr Bowring , very well—Colonel Thompson , tolerably—Mr Ewart , dreadfully . ¦ He repeated a part of the old League doca . ments , in a whining tone , very much like a Church . of . England parson . Aftethia got up

      Mr Webmh , of RhehJat Prussia . You know , I believe , this gentleman—a jronngitradqsman whose poetry is well known and very much liked throughout Germany , and who , during several jes » sr « tay in Yorkshire , was an eya-wltnesB of the condition of the working people . He has a great many friends amongst them there , who will ba glad to see that he has not forgotten tb « m . As his apetan will be to your readers the most interesting feature of the whole Congress , I shall report it at some length . Ho spoke as follows s—• Gentlemen—You are discussing the influence of Pree Trade upon tbe condition of the working classes . You profess the greatest possible sympath y for those classes . I am very glad of it , but yet I am astonished not to see a ' representative of tbe working classes amongst you t The

      monied classei of France are represented by a peepthose of England by several M . P . s—those of Belgium by an ex-minister—and even those of Germany by a gentleman who gave us a faithful descri ption of the state of that country . But where , I ask you , are the repiesenta . tives of the working men ! I see them nowhere ; and therefore , gentlemen , allow me to take up the defence of their interests . I beg to apeak t » you on behalf of the working people , aad { principally on behalf of those five millions of English werking men , amoDgat whom I spent several of the moat pleasant years of my life , whom I know and whom I cherish . ( Cheers . ) Indeed , gentlemen , the working people stand in need of some nenerotity . Hitherto they have not been treated like men , but like beasts of harden , nay—like merchandise , like

      machines ; the English manufacturers know this so well , that they never say , we employ so many workmen , but so many hands . Tbe monied olaases , acting upon tbis prteciple , have never hesitated a moment to profit by their services as long as they require them , and then turn them out upon the streets , as soon as there is no longer any profit to > be squeezed out of them . Thus the condition of these outcasts of modern society has became such , that it cannot be made worse . Look wherever you like ; to the banks of the Rhone ; into the dirty and pestilential lanes of Manchester , Leeds , and Birmingham ; on tbe hills of Saxony and Silesia , or the plains of Wcatphalia ; everywhere you will meet with the same pale starvation , ' the same gloomy despair , in the eyes of men who In yaln claim their rights and their position in clvilUed society . ( Great sedation . ) Mr Weerth then declared bis opinion to-be , that tbe protective system in reality did not protect the working people , but tbat

      Free Trade—and he . told it them plainly and distinctly , although he himself was a Free Trader—that Pree Trade would never change- their miserable condition ; He did not at all job in the delusions of the Free Traders , as to the beneficial effects of the carrying out of their system upon the working classes . On the contrary , Free Trade , the full realisation of free competition , would force the working people as much into a kaener competition amongst themselves as it would make capitalists compete more selfishl y against each other . The perfect freedom of competition would inevitably give an enormous impulse to the invention of new machinery , and thus supersede more workmen than even now were daily superseded . It would stimulate production in everyway , but for tbii very reason if would stimulate over production , overstocking of markets , and commercial revulsions , jmt ia the same measure . The Free Trader ! pretended that those terrible revulsions would

      cease under a system of commercial freedom ; why , just the contrary would be the case , they would increase and muttiply more than ever . Possible , nay certain it was , tliat at first the greater obeapness of provisions would benefit the workpeople , —that a lessened coat ef production would increase consumption and the demand for labour , but that advantage very soon would be tamed into misery the competition of the viorktng people amongst themselves weuld soonreduoetbemto the former level of misery and starvation . ' After these and other argumen t * ( which appeared to be quite novel to the meeting , for they wtre listened to with the greatest attaiitlon , al . though the 'Times' reporter deigns to rid himself of them with the impudent but significant sneer—• Chartistcommonplace' ) , Mr Weeeth concluded as follows :

      —• And do not think , gentlemen , that these are but my individual opinions ; they are the opinions , too , of the Engliah working men , a class , whom I cherish , aad respect , bicausethey are intelligent and energetlo men , indeed , ( cheers , « b y courtesy , '} I shall prove that by a tew facts . During fall six years , tbe gentlemen of the League , whom we see here , courted tbe auppertof the working people , but in vain . The working men never forgot that the capltalieta were their natural enemies ; they recollected the League rlota of 1812 , and the masters' opposition against the Ten Hours Bill . It was only towards the end of 1815 , that the Chartiats , the c . itt of the working classes , associated for a moment with the laagae , In order to crush their common enemy , the landed atUto . cracy . But it was for a moment onl y , and never were they deceived b y the delaslve premises of Cobdcn Bright , and Co ., nor did they hope the fulfilment of cheap bread , high wages , and plenty to do . N < i , not for moment did they to trust

      a cease in their ova « 8 rtlona only ; to form a d istinct party , led on by d ' . stinct chiefs , by the indefat . gable Dancombe , and by ^ eargua O'Con ! nor , who , in spite of all calumnies ^ . ju . re M , Weerth ml l nt ? T ^ ° , mad 8 a iick , convulsl e movemen , ) -who , in ap . te of all r . ^ i e , withina few ? caTnnnn eVe tb t atF r , Tr de willdo woud . ra for them , LttrT 7 to « - 'r somo othcr mean » to eff «« ve 1 y better their eond . iho ' . Gentlemen , I call upon you SSSTSiT ' " ' Y ° Uhare nolonSer *» £ * £ fe » r th « 5 Ut ' J 0 U d ° DOt t 8 k 0 Oare J ° U wlU have t 0 « e irru ' ptionofyour Offn workmen , and they will wn M / > : rrible t 0 J ° u than » u 'bo Cossacks in the wor Gentlemen , the workpeople want no more worui tram » rOu , they want deeds . And you have no reason ts WtotonUkedatthat . They recollect T « ry weUthattu

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      1880 and 31 , wbea they conquered tbe Rtform BUI for you In London , when they fought for you in the strtete ef Paris and Brussels , that then they were courted , shaken hands with , end highly praised ; but that when a few yeara after they demanded bread , than they were received with grape shot and the bajenet , ( Oh ! ' no Be 1 ye « , y « ! BHBBB 93 U , Lyons , ) I repeat , therefore , to you , carry your Free Trade , it will be well ; but think , at tbe same time , about other measures for the workingclassei , or you will repent it . ' ( Ltud cbeers . ) Immediately after Mr Weerth , up gotDr BewaiKO to reply . Gentlemen , ' said he , ' I oan tell you tbat the hon . member who haa juat sat down haa not been elected by the English working people to represent them in tbia Congreas . On the contrary , the English people

      generally have given us their wffragea for tbis purpose , and , therefore , we claim our places as their true representatives . ' He then went on to abow the bmeficlal effects of Free Trade , as proved by the increased importation of articles of food into England since tbe introduction of last year's tariff , So many egga , 10 many cwt . of butter , cheese , ham , bacon , so many heads of cattle , &c , * o . ; who could have eaten all tbat if not the working people of England ? He quite forgot , however , telling as wbat quantities of the same articles have been produced leai in England since foreign competition has been admitted . He took it far granted that increased importation was a decisive proof of increased consumption . He never mentioned wherefrom the working people of Manchester ,

      Bradford , and Leeds , who now walk tbe straets andeannot get work , wherefrom these men got the money to pay fer tbia supposed increase of consumption and Free Trade comforts , for we never heard of the - masters making them presenta of eg ^ a , butter , cheese , ham , and meat , fer not working at all . He never said a word about the present depressed itate of tbe trade , which in every public paper ia represented an really unexampled . He seemed not to know that all the predictions of tbe Free Traders since the carrying of the wasutes have proved just the reverse of reality . He bad not a word of sympathy for the sufferings of the working classes , but , on the contrary , represented their present gloomy condition as the brightest , happiest , and moat comfortable they could reasonably desire .

      The English working people , bow , may choose betwixt their two representatives . AhoBt of others followed , ' who apoke about every imaginable subject upon earth , except upon the one under discussion . Mr M Adam , M . F ., for Belfast (?) apun anetarftaUyjlongyarnupon'flax-Bpinning in Ireland , end almost killed the raeetinR with atstistiw . Mr Abendycb , a Dutch proftnor ^ apoke about Old Helhad and Toung Holland , the university of Mege | "Walpole , and Dewit . M . Tan da Caateele apoke about France , Belgium , and the ministry . M . Aaker , of Berliu , about German patriotism and some new article he called apiritual manufacture , BJ , Dan Tex , a Dutchman , about God knowa what . M last , the whole meeting being half asleep , was anakened by M . Wolewakl , who re . turned to the question and replied to Mr Weertb . His speech , like all speeches delivered by Frenchmen , proved how much the French capitalists dread the fulfilment of

      M . Weerth ' * prophecies ; they spesk * ith such pretended sympathy , such canting and wbinbg of the auf . ferJDgs of the working classea , that one might take it all for good earnest , were It not too flagrantly contra . diotedbythe rouadneas of theirbelilea , by tbe stamp of hypocrisy deeply imprinted oa their faces , by the pitiful remedies they propose , and by-this unmiatakeab ' y striking contrast between their werdi . and their , deada . Nor have ; they ever succeeded in deceiving one si » glq working man . Then , up got the I > uo d'Harcourt , peer , of France , aad claimed , too , for tbe French capitalists , deputies , he ., present the right of representing , the > French working people . They do so in the same way as Dr Bowring represent the English Chartists . Then , apeke Mr Jones Wilson , repeating , mbst ^ brasen-facedly the most worn-out League-argoment , in the drowsy tone , of a Philadelphia quaker . ¦ -

      You see from this , what a nice cHseusBton it was .. Dr Marx , of Brussels , whom you knowaa by far . tbe moat talented representative of Germaa Democracy , had bIbo claimed bia turn to speak . He bad prepared a speeoh , which , if it bad been delivered , would have made it impossible for the congresBienal ' gents' to vote upon the question . But , Mr Weerth * opposition had raade them sh y . They resolved to les none apeak , of whoae orthodoxy they were not quite sure . Thus , Messrs Wolowski , 'Wilson , and the whole precious lot spoke against time , and when it was four o ' clock , there were still six or aeven gentlemen wbe- wanted to apeak , but the chairman dosed the dissuasion abruptly , and the whole set of fools , ignorants , andjknav « B , called a congress of political Economists , voted all votes against one , ( tbat poor German fool ef a Protectionist aforesaid ) —the Democrats tfkl not vete at all—that Free-trada is extremely beneficial to the working people , and will free them from all misery and distress .

      As Ifr Marx ' s apeeeb although not delivered , contalna the very beat and most atriking refutation of tbis barefaced lie , which can be imagined , and as Us contents , in . apite of ao iaany hundred pages having been written pro and eon upon the subject , will yet read quite novel in England , I enclose you some extracts from it .

      SPEECH OF DR MARK ON PROTBCT 1 ON , FREE TRADE , AND THE WORKING : CUSSES . There are two sects of protectionists . The first seat , represented in Germany by Dr Liat , who never intended to protect manual labour , on the eoatrary , they demanded protective duties in order to crash manual labour by machinery , to supersede patriarchal manufacture by modern manufacture . They always intended te prepare the reigm of the monied classes ( the Bourgeoisie *) and more particularly that of the largo manufacturing capitalists . They openly proclaimed 1 the ruin of petty manufacturers , of amall tradesmen ' , and small farmers , aa an event to be regretted , indeed , but , quite inevitable , at tbe same time . The second school of protectionists , required not only protection , but absolute prohibition ,

      They proposed to protect manual labour against the invasion of maefcinery . aB wellaB against foreign competition . They proposed to protect by Ligh datioa , not only home manufaetares . but also home agriculture , and the production of raw materials at home . And where did tbis school arrive at ? At the prohibition , not only of tbe importation of foreign manufactured produce , but of theprogres of the borne manufacture itself , Thus the whole protective system inevitably got upon the horns of this dilomma . Either it proteeted the progress of home manufactures , and then it sacrificed manual labour , or it protected manual labour , and than it sacrificed homemannfactures . Protectionists of the first sect , thaso who conceived the progress of machinery , of division of labour , and of competition , to be irresistible , told the working > e 1 asseB , ' At

      any rate if you are to be squeezed out , you bad better be squeeaed'by your own countrymen , than by foreigners . ' Will the working daises for ever bear with tbis ! I think not . Those who produce all tbe wealth and comforts of the rich , will not be satisfied with that poor consolation . They will require more substantial comforta in exchange for substantial produce . Buttheprotectionistasay , After oil , we keep up the atate of society as it is at present . We ensure to the working man , somehow or other , the em . ploymaat he wants . We take cate that he Bhott Hot be turned out of work in consequence ef foreign competition . ' So be it , Thus , in the best flan , the protectionists avow that they are unabl » to arrive at anything better than the eontinuation of the slatu guo . Now the- working elasses want not the continuation of their actual

      condition , but a change for the better . A laat refuge yet stands open to the protectionist . He will say that he ia not at all adverse to social reform In tb « interior of a country , but that tbe firat thing to ensure their succeBs will be te shut out any derangement whloh might be caused b y foreign competition . ' My system , ' he says , ' is no systsm of social reform , but if we are to reform society , had we not better do so . Within our own country , before we talk about reforms in eur relations wiia other countries t Very specious , Indeed , but under this plausible appear , ance , there is hid a very strange contradiction , Tbe protectionist system , whlto it gives arms to the capital of a country against the capital of foreign countries ; while it strengthens capital against foreigners , believes that this capital , thus armed , thus strengthened , will be weak ,

      Impotent , and feeble , when opposed to labour . Why , tbat would be appealing to the mercy of oapital , aa if capital , considered as such , could ever be merciful . "Why , social reforms are ) u » Ter carried by the weakness of tho strong , but always by the strength of the weak . But it U riot at all necessary to insist on this point . From the moment the protectionists agree that social reforms do not necesaarily follow from , and that they ate not part and parcel of their ayatem , but form quite a distinct question , from that moment they abandon the question , which we discuss . We may , therefore , leave them In order to review the effects of Free Trade upon the condition of the working claasea . Tke problem : What will be the influence of the perfect unfettering of trade upon the situation of the working claasea , is very easy to be

      resolved . It ia not even a problem . If there is anything clearly exposed in political economy , it is the fate attending the working classea under the reign of Free Trade . All those laws developed In the olasslcal works on political economy , are atrictl ) true under the supposition only , that trade be delivered from all fetters that competition be perfectly free , not only within a tingle country , but . upon tbe whole face of the earth . Theas lawa , which A . Smith . Say , andRlcardo . bave developcd . the lawa under which wealth ia produced and distributedthose laws grow more true , more exact , then cease to be mere abstractions , in the same measure in which Free Trade is oarrled out . And tho master of the science when treating of any economical subject , tells ua every moment that all their reasonings are founded upon the supposition that all fetters , yet existing , are to be removed from trade . They are quite right in following this method . For they make no arbitrary abstractions they only remove from their reasoning a series of

      accidental circumatancea . Thus it oan justly be said that the economists—Ricardo and others-know more about society aa it will bo , than about society as it i 8 They kaow more aboutthe future than about the present ' If you wish to read in the book of the future , open Smith Say , Rtcardo . There you will find described , as clearlv as possible , the condition which awaita the working ia ? under tbemga of perfect Free Trade . Take forinl ™ the authority of llicardo , authority tlmn which Zr « M no better . Whatiithe natural normal pSoft ? , I bour of , economically speaking a ™* t * "' Ricardo replies , < Wages reduceT to th 2 ^* - ^ their lowest level . ' Labour i » „ , 1 i- lunimuBany other commodity Tow thL- m ? y aa wo 11 a « determined by the fie lZm f to ' ° ? ° ° dUy U then is necessary to « roZ ! ! h * PrQduce "' What Exactly that whlo > . 1 ° con Wodity of labour ! I Dairini ? nf H . wul 8 POn 8 a » lQ ta UW bustenance and the re ' Wm 01 fto mtx m \ m of thg labourer , to onnbl ,

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      him to live and to propogate , tome how or other , bis race . We are , however , not to believe th » t the working maa will never be elovated sbeve thil lowest level , nor that he never will be depressed below it . No , according to this law , the working classes will be for a time more happy , they will have for a time more than tbe minimum , bqt tbis surplus will be the supplement only fer wbat they will hava less than the minimum at another time , the time of induatrlous stagnation . Tbat is to say , tbat during a certain space of tlase , which it always periodical , ia which trade passes through the circle of prosperity overproduction , stagnation , crisis—that , taking the average of what the labourer received more , and wbat he received less , than the minimum , wa shall find that on the whole he will have received neither more or less

      than tbe minimum ; or , in other words , that the working class , aa a class , will have coaserved itself , aftar many miseries , many sufferings , and many corpses left upon the iadustrial battle field . But what matters that ! The class exists , and not only it exists , but it will have increased . Tbis law , that the lowest level of wages ia tbe natural price of the commodity of labour , will realise itself in the same measure with RlcareVs supposition that Free Trade will become a reality . We accept eviry thing that has been said of the adroBtagaa of Free Trade . The powers of production will Increase , the tax imposed upon the country by protective duties will disappear , all commodities will be sold at a cheaper price . And what , again , says Ricardo % ' Tbat hbour being equally a commodity , will equally sell at a cheaper price ' —that you will have it for very little money indeed , just as you will have pepper and aalt . And then , in tbe same way at all other laws of political economy , wttl receive

      an increased ferce , a surplus of truth , by the realisation of Free Trade—in the lame way' the law of population , aa exposed by Malthus , will , under tbe reign of Free Trade , develop itself in as fine dimensions as ca possibly be desired . Thus you have to choose : Either you must disavow the whole , of political economy as it mists at present , or you must allow that under tbe freedom ef trade the whole severity of the laws of political economy will be applied to the working claasea , Is tbat to say that we are againtt Free Trade ? No , we are for Free Trade , because . by Free Trade all economical laws , with their most astounding contradictions , will act upon a larger acale , upon a greater extent of territory , upon tbe tbe territory of the whole earth ; and because from tbe uniting of all these contradictions , into a single groap , where they stand face to face , will result the struggle which will itnelf eventuate in the emancipation of tbe proletarians .

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      ! STATE OF THE MONEY AND MANUFACTURING MARKETS . The country is just now passing through one of those commercial panics , which reeur aa regularly under the present system of conducting business , as idarkness follows day-light . A few gleanings from i the metropolitan aai provincial journals , will serve to give an idea of the nature and estent of the stagnation . It would appear , that in many respects tho lorisiB is more severetiiMn ered the celebrated ' smash ' iof 1825 and 1826 , and as far as can be seen at the

      ' presentmoment , bur future prospects- are most de' plorable . 1 Last week was a most gloomy and harassing one . In additien to the actual number olfailures reported , rumours affecting the stability of many of the principal houses in the city , were current , in and fact , it was difficult to a » y wh » would be able to '' weather the BtormV The Bank of England finding itself unable to meet the pressure , declined to make any farther adTOuew on Stock « r Exchequer Bilfe , and the immediate consequence was , an alarming decline in the price of Consols . Exoheqoer Bills ake-fett . at one ime as low as 27 s . discount t

      The &hmi * g Advtrtim : mya , speaking of Monday?—'As we anticipated , this has been a most severe day in the City . The 4 th of the month » heavy under ordinary circumstances , but hew much more eo'at » time , like the present , may be readily eonceived . The Bank of England has done all in its power to relieve the pressure , but from the deteimination'toexclude Exchequer BiDa and Stock from the benefit of advances , firms of the very highest standing- have been compelled to make further sacrifices . Since these securities eoutd only , be made available en the Stock Exohangevit is in thaWocslity that the excitement has been most apparent . Usaallj tbe jobbers are in a position to- take off most

      important amounts , because they have a resource with their saveral bankers , as well aa with the Bank of England- To-day , however , the ca »* has been very different , aid for the limited means at their-corumandi these useful middlemen hare naturally been enable * to obtain most UBurous terms . Foreed sales of the Unfunded Debt sent down the value to 39- and 27 shillings discount , and large amounts were ' still offered without finding buyers . Upon stoek , rates of interest were paideguat to . SO pev tent , ptvmnum , though it must be- rememberad that the accommodation was bat fora week or a fortnight . At the bankers , great activity prevailed in the eountry office * especially , and we fear , from the results sf eur inquiries ,, that there must be a good deal of work for the notaries in connection with the a » nor departments of trade . Among the actual atoDDares

      of importance to-day , are those ef John Thomas , Son , and Eerevre , a very large and highly respected firm , engaged in the Russian and Braailian trade , with branches at Jersey and other places * We believe one of the partners is related to a gentleman occupying a high position in the political world . The house of Reugemont Brothers has also- suspended , although , as report says , with a goed balance at their bankers , and with assets , calculated te be three times the amount of their liabilities . According to the explanation we have heard , the resolution was come to under the determination not to submit to ih& oppressive losses whicL the exii-tieg Currenov Restriction Bill is entailing upen every merchant in the country . Indeed , this feeling has become so strong , that it is not impossible tbat houses with ample funds at comm&ad * will entirely suspend business , unless matters speedik improve . '

      'The fluctuations in tho Funds to-day have been even more violent than those of Saturday . Upon the commencement of business there was a tendency towards improvement , but subsequently a reaction of 1 toli per cent , occurred , Consols being done as low as 831 for money , and 84 $ for the 14 th inst , » a difference ef no less than 1 per eont . to those who were in immediate waot ol cash , aad such as could afford to wait exactly ten days . Exchequer Bills ranged from 10 s . to 2 % discount , closing at the lowest rates , although Consols were last marked at a rally to 84 and 841 for transter , and to 84 £ {¦ for time . '

      Exchequer Bills He . government papert during one portion of the morning ' . were almost unsaleable . With reference to the two failures menturned above , the limit Bays , That of John Thomas , Son , and Lefevre , will prove extremely serious . The liabilities of tma firm upon acceptances , amount to £ 350 , 000 , of which £ 130 , 000 fall due daring the present month , £ 120 , 000 in November , and £ 100 , 000 in December , and the immediate cause of the stoppage is understood to have been the non-receipt of expeoted remittances from their house aSSt Petersburgh . By many persons , however , the business of the house has long been supposed to have been extended beyond the amount warranted by its capital and it is , therefore , feared that the results will not prove so favourable as mig ht have been expected if the disaster had originated in some maeeWStfimnnwiw

      circumstances . The blow is expected to fall most heavily at Manchester , whence the firm , in conneoturn with Messrs De Jersey and Co ., have been large exporters of cotton-twist to St Petereburgb and Moscow . Within a recent period they had erected a cotton spinning establishment at St Petersburgh , which is stated to have cost £ 60 , 000 , and which ( this branch of businesa being known to be one of the most profitable in that city ) added considerably to the confidence of those who regarded the position of the house as a sound one . John Thomas and Co ., is the title of the Srm at St Petersbursh and it has two partners , Messrs Maingy and Force ' raann , who are unconnected with the honse in London , Jbutasit is not expected that they have independent capital to any extent , and as the present 8 _ ll ? . l ^ . en cau 8 fi . ^ their want of punctuuwie

      , wuy , won u room 10 nope that the event mav thaTS' by&BytUffi 8 that ™ y transSfK Tfie same symptoms of derangement were viRihb onTuesday ; . the Chmide Cityar tSestated ! 'The state of affairs m the City "to-day has not imDroved in regard to the difficulty of obtaining baKgaccommodati « m ; butweare glad to be able to add thatwe have hewd of no farther failures in Z SKSfft ^ l CXcitemcat ' «? pre , aUs on the Stock Exchange , aad parties are anximly homng for soni « relaxatioa of the recent resolXon of the Bank Directors : but in the mean time the pressure foj money continues so great that tEme disparity exists in thft quotations of CoSSTSr

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      „„!? " ^ *» y Pwsssurein the-money market ? T $$ ? 7 ? ? Tere ' M much 80 tnat «» Bank sffifesisija * SASJSLT telle" * "WSK 5 V ^ wiS" * ?^ 1 imx ' ft ' tam-trete , Me . ro

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      CORS , &c . """ § SSsSHSSg sisszsass

      ESEiSaa ^^^ ^ SpHs tetoSS " si 2 , " ""' , ""» ««! - «¦« of 1 & 2 S ££ p 3 SSBZ 2 £ @SSsSSn& ; , aa&tx c . rss « " »" MttjfrMjn , Wednesdays yetr Ziffl . n ™» w «*

      ISlSSSSi vervsSif . a"endance of buyers , the demand ims tillotA i some few instances , th « finest qualities ! of white produced la per qr . more money . LivKBjpot , Oct . 5 .-There is a fair import of foreign ft ^ tUS ^ " ^ ^* " qU 8 Bt Uie * ° ' articled ^^^ A ^ T ^^ A s ^^ js& ^ sss s aass a ^ ssg ^ 'tsss

      tent 01 me leading article * at fullprices . American flour s ^ rs ^^^ SrF sssIshPf SSSBS ^ gS S SS ^ aSBH Swibs kJ dK £ J ? ;¦ and new oatn * ' B 03 to 32 s W corn meal eacffi « " ^ T , Peas- Indian c <™ *>>* RioHMoNn ) v I a steady demands full prices . keV of " heat Kw 2 .- ° \? - -W ** ad a heavy m 8 rfromLtoT , '< ifl Xthiu of othw-grain—Wheatsold .

      iwi . CATTLE , & . » . doKngZVaTweik ^ 6 ° ^ **» * Sfe-r * ^ * sSF = ? » a $ Flushing ^ 4 . ~ * »• — ToiW « en m SM ~ ~ ~ Total W 5 AV ) m " lw } ~ At the outports tkvarrivala ( mostlv * . „„ , it ™^ ... ^

      first-rate . Scanty of whwh has been by no means UusWe , ^ ly 9 tSn * " * heret *** w » : again ex . 110 calves ana 5 ^ - ? , ? Offs ' > & 1 ) ° she (> P and lambs , vasSnfS 1 Ug ? - AUl ) rce < lsiHUeconditionofwlucb . week ' s ounu ? ^^"'" 'y slow * Pquiij . at barely las * ThenS . ? " ? ' « nda ^ tal clearance wa , not effected ,, eeneral S-, ° f she * p werc WOderatoly good , but then ? fnt ? ho& t Wa ? toH&ws * . Comparatively spesfc , dPMin * " ° , n trado was in a sluggish state , at Friday . ' * itth ^^ of 2 d P" MbiTTbe highest ft ^» L J ? , old downs did not « Q » £ d fis 2 d perMbs ^ aad a towi clearance was with difficulty effectod . , ** 6 tmmestcalves wore in steady reguestat fuUprices , I m » all other kinds of veal commanded very little att « n .

      Scarcely any pig 3 have been on offer in this market from Ireland for some time past ; but the supply of English has been tolerably extensive , and of $ uli average quality . To-day the pork trade was rather inactivo , yet prices were supported . The foreign pigs wro luwretchei condition , » nd scarcely fit for consumption , COTTON . Iivfijtwoi , Oct . 9 . —Our cot-on market to-day haat > een in a very gloomy state . The failure of W . Maury , oxten . sively engaged in the American and East India trade , ' yesterday , together with that of Thomas and Henry Mur . ray , West India merchants , to-day , has had a very discouraging effect . Tlie sales are 4 , 008 bales , including 500 for eiport , ami 300 on speculation , The lower Arnei'ican kinds were sold at a further decline of id per lb .

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      street , iiaymarKei , in tue uity of Westminster , ran Office , in the same Street and Parish , forthe Proprietar , FEARGUS O'CONNOR , Esq ., H . P ., and published by Wium * Hewitt , of So . 18 , Charles-streot , Br » n . don-street , WalwortU , in the parish of St . Mary , New . ngton , iu the County of Surrey , at tho Office , No . 16 , ^ Grent "Windmill-street , Hayuinrtet , in the Ci tyofffess . » luter , ,-w-dl Saturday , QctoVw Jttbj , ' 84 X .

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      STATE OF AFFAIRS IN LANCASHIRE aW natural uncertainty aa to who n » vhV « S ? rn . 'V lavolved-has induced a feeling d \ fi £ I eaufaon-in fact of positive alarm , never beR S iw « iS ?? n far more ^ astrous and du-S § ^ tffi " T Laye « P « fo » eed since .. nnn „! ^ hm fwr mmf y ea been looked iLvi . lf ^ y , ™" . 3 > ut absolutely wealthy , J » jwwed , and indeed spoken of , us doubtful . The immune extent ot railway speculations , and the painful , but obviouafaotthat the largest and wealthiest uousea are , iu many instances , the firat and tlie \ defeat involved , mm to to o&e important eta *

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      ssfSife tirely ceased working onSWn «•• sw ^ frK ' cS * ^ TAsrj ttJaSl ^ A 'S ^ " ^^^ DukenfleH [ . gavenoticetoWrha ? I h 3 & « g wages of the spmnen to what ww paidn £ Tim This of course , has caused much alam amSnS ODeratives , and yesterday a very aumerouj JStS of de egates was held here , to take into i 3 fi ! turn the steps necessary in the present emereennT Abo . thirty delegates were present , repr fS

      uieiouowing pwces , namely , Ashton , Bolton Burf Chorley , Chowbent , Dukenfield , Halifax . Le S ' Mancbes er , Mosley , Oldbam , Saddlerrorth , Water * head , Mill , and some others . The chair was occu . pica by Mr ; Joseph Gregory , of Bolton , and Mr Bnndle , of the same place , aoted as secretary . A very lengthened discussion ensued as to tbe deoira . aSc ° t- T ral 8 ece T lab 0 Br ' ralll « tbaa ever waB fSf Wage ?' .- Tlle generaI rcwlt ' ^' held in tKt etin ? . ?* P ° blic meeti »«* to ba ^ g Sffssfi'SSisisi ^^ s ^ j fe'a

      SKao Wh ey and Ashtcn ' «» der thT nctioa of Mr A . Omll , the mayor of that town Measra Lees , Kentaw , and Co .. of the same place , UdS other very influential firms , for the purple of en deavourjng to effect an adjustment of thematters fa dispute between the masters of Mosley and Ashton and the operatires , as to the propowd reductionTf wrpes , or , if tbat could not be effected , to induce the men to stand out against the reduction rather than submit , asdthus induce a general reduction it wages throughout the trade . That benevolent missien , however , must have proved wholly unsuccei !* .

      Jul , aa the reduction proposed by the forty-two firms as already stated , w * s given notice of on the following day . One ratber remarkable feature in this proposed reduction i » , that although tbe wages are paid fortnightly , in most instances , and fall due on different days , the notices have been so given as to all expire on the same day . w LEKDs .-There is a continued depression in the foreign wool trade , and a * the business done i » m extremely limited , prices are merely nominal . The demand for English wool is limited to the fame , ( hate wants of the manufacturers , who h « ld light stoeksof it . In pncea there is no alterations-There haa been a much better feeling as regar 7 ibS ness tin week than for many weeks St 7 t H *

      our eiotn-naiis . There Imalso been some little impraKMnt in 1 business in thrwarehoSS S cipally with the country drapera . F JSsgszSfjrju 8 "S JBttr Tierot ^ ettawta u ^ fK ^™?^ RocBDUiB . —The weather wa « extremely fine and fifes i . tow . ^ ffjS ' SSbSi&s 1 D 8 tance 8 - *•"""•** £ rnSttSr-11 " ' ^ 1111 ^' 1116111 in lh « ™ d rh ? fiirtli . / , or P riees - The 8 t « cks itt £ * i ! S " ? »^ ersare smalWnd they are not anxious to replaee them at present nrices it-rf h » ine

      producers . . Noils and broke ! being scarce , fetch . . lngher prices . The spinners are in general eT&to drt . ert ^ pr ^ Wito im r ^ erating , and the spinners are cmtailing their S proaS ^ r ^? ^ Th 6 re ' ~ d ° V

      Ikarftets*

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      THE NORTHERN STAR . V ' rw « .. c ia ^^^^^^^^^^ l ^ ^^^ ^^»» i ^^ aaii > WE ^^ aaaaa ^^ aaa »^ a ^^^ a ^^^^^ Llaaaa ^| BB | Bpla \^ al ^^ pa | WB " ¦ ' ¦¦¦ *¦*¦ *^ m ^~~ ^^——¦ 1 ' . ^ w ^** aiia»———^ i ^—* i r - ^— ****** ' m ' ——^—*—^— ' - ^^—— ^^^^^^^^^^ ^^^^^^^^^^ tttKKtt t ^ m ^^^^^ m ^ m ^^^^

      Ai Printed Fcy Dougal M'Gowan , Of 16, Great Windmill

      ai Printed fcy DOUGAL M'GOWAN , of 16 , Great Windmill

  • Citation
    • Northern Star (1837-1852), Oct. 9, 1847, page unpag, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/ns/issues/vm2-ncseproduct1439/page/8/