But though the corn laws failed in keeping up the price of corn as high as their framers and supporters wished, they succeeded so far as to enhance the price of this first necessary of life, and make it perhaps 20 or 30 per cent. dearer than it otherwise would have been to all the consumers, even the poorest tradesman or labourer in the country.

If the difference which the agriculturists were enabled, by this monopoly, to obtain at the expense of the other classes, had all been pure gain, without any drawback, they must have been in a comparatively flourishing condition; but we find this is not the case, and what is the reason? Let us hear Sir Robert Peel's answer to the question. In his speech in parliament on Mr Villiers's motion, when replying to the accusations that had been made by Mr Blackstone and other members on his own side of the house, that he had deceived the agriculturists, as the Government measures, instead of affording them the protection that was promised, had brought down prices and rendered their situation worse than before, Sir Robert says, it was not the Government measures that had brought down prices and occasioned the agricultural distress, but that this arose from the condition of the manufacturing districts, and the general distress from bad trade and want of employment, which rendered the people unable to consume.

If this, then, is the true cause of the agricultural distress,—if the corn, sugar, and other monopolies are so injurious to the manufacturing and commercial classes, who are the agriculturists' best, and, indeed, their only customers, as to render them unable to consume, it is not to class legislation that we can look for relief. In order to relieve the agricultural distress there is no other way than to relieve the distress of those on whom they depend for a market for their productions.

Were the farmer (or rather the landed proprietor) to gain all that the consumer loses by the corn monopoly,—if it were only taking from one, and giving to another—without any national loss; though this of itself would be bad enough,—it is perhaps the smallest part of the loss which the manufacturer sustains; for the same law which hinders him from going to the best and cheapest market to purchase his food, at the same time necessarily excludes him from a market for the produce of his industry; and by diminishing the demand for his labour, lowers his wages or throws him out of employment.

But one abuse leads to another. Those who are interested in the corn monopoly, or think themselves so, cannot well oppose the sugar monopoly while they require the aid of the West India planters to enable them to obtain this advantage at their country's expense; and so it is with all the other monopolists, they naturally unite together, and it requires their mutual aid and all their combined power and influence to preserve a system which they know stands upon rather an insecure foundation, and if once broken in upon would soon fall to pieces; and thus it is that we are subjected to the sugar monopoly, and though it is manifestly our interest to buy this important necessary of life (as well as every other) in any quarter of the globe where we can find it best and cheapest, we are restricted to a small portion of the earth's surface, and have to pay a third part more than we might obtain the article for without any loss to the revenue. By this narrow-minded system of buying, we deprive ourselves of valuable markets for our manufactures, as you have shown is likely to be the case with the Brazils on the expiry of the commercial treaty with that country if the matter is left in the hands of Ministers, "and no effort made to avert so great an evil." The agriculturists have to pay directly for this monopoly in common with all the other classes in the addition to the price of the sugar they consume; but the manufacturers suffer the still greater disadvantage of having the market for the produce of their labour narrowed, and thus the agriculturist will also suffer indirectly by their customers being thereby still farther disabled to consume.

But these and all other monopolies and restrictions in trade not only lessen the demand for our manufactures abroad, but they diminish the consumption at home, to an extent greater perhaps than we are aware of; for there can be no doubt that the more the consumer has to pay for his bread, sugar, and other articles of food, the less he will have to spare for cottons, woollens, and other manufactured commodities. The demand for his labour is thus lessened both at home and abroad. The weaver of cloth may be unable to obtain a coat even of his own manufacture, however necessary it may be for his health and comfort; he must have food, in the first place, being more indispensibly necessary to his existence,—no doubt he may have to content himself with a less quantity than he could have wished, and have to substitute oatmeal and potatoes, or some other inferior food for wheaten bread and butchers meat; still, it is less in his power to curtail the consumption of agricultural produce than of manufactures, so that the manufacturing classes suffer from the general distress which renders the people unable to consume in a greater degree than the agriculturist.

R.T.F.

* * * * *

TO THE EDITOR OF THE ECONOMIST.

Darlaston, September 8, 1843.

Sir,—Twelve months ago the editor of the Morning Chronicle allowed a letter of mine, referring to the distress then prevailing in this town, to appear in that journal; in it I stated that for our annual wake only twenty-four cows had been killed, when but a few years previously ninety-four had been slaughtered on a similar occasion. Perhaps you will permit me to state in your columns that this year the festival, in this particular, has afforded as melancholy and unquestionable proof of distress as the last, while it bore other evidence, which though trivial in itself, is not unworthy of notice. Last year two theatrical shows visited us, displaying their "Red Barn" tragedies, and illuminated ghosts, at threepence per head, at which they did well; as also did a tremendous giantess, a monstrously fat boy, and several other "wonderful works of nature:" this year only one show of any description attended, and that, with kings and queens, and clowns, as well dressed and efficient, and ghosts, as white and awe-inspiring as ever paraded before an audience, has reaped but an indifferent harvest at the "low charge of one penny each;" while the swing boats and wood horses, patronized with such glee by the miniature men and women attending and enjoying wakes and fairs, only worked half time. The physical-force majority in the House, and their aiders and abettors, were they to see this, would perhaps laugh at the petty details, but their doing so would not in the least detract from their truth, or render questionable for a moment the deductions I make from them,—that poverty is so wide spread and bitter that the poor are compelled to make a stern sacrifice of innocent amusements; that the parent cannot exercise the holiest affections of his nature, by adding to the pleasures of his lisping little ones; that the landowners' corn law, by its paralyzing influence, is rapidly withering the great mass of the industry of the country into idle, dispiriting pauperism.

From inquiries I have made I learn that through the country generally the wakes, and fairs, and races, have presented similar features to those I have described above, so far as money goes. And in face of the distress, of which these things bear glaring witness, the Prime Minister says "that the distress has been produced by over-production." Can Sir Robert be serious when he talks of "over-production?" If he be, and will condescend to honour me with a visit during his stay at Drayton Manor, which is only a short drive of sixteen miles from here, I will show him that the opinion is fallacious. He shall dispense with his carriage for a short time, and I will walk him through all the streets of Darlaston, Wednesbury, Willenhall, Bilstow, &c., and, forsaking the thoroughfares frequented by the gay and well-to-do, he shall visit the back streets—in which carriage passengers never deign to go—of Birmingham, Wolverhampton, and Walsall, and what he will witness in the course of the short ramble will "change the spirit of his dream." In Darlaston, as a sample of what he would see, there are hundreds of men and women whose clothes, made of the coarsest materials, are patched, and threadbare, and valueless; hundreds of houses without anything in them deserving the name of furniture; hundreds of beds without clothing, and hundreds of children whose excuses for clothes are barely sufficient, with every contrivance decent poverty can suggest, to cover the body as civilized society demands. In the towns I have enumerated, in fact, if the least reliance may be placed in newspaper reports, in every town and village in the country the same want prevails to a much greater extent than can be conceived by such as Sir Robert, "who fare sumptuously every day,"—aye, even to a much greater extent than is generally supposed by the above-want dwellers in large towns whom business may frequently bring in contact with those who toil. With the millions, then, who in this country must be next to naked, without furniture in their houses, without clothes to cover their straw beds, is it not the nonsense of nonsense to talk of "over-production." Enable these men to satisfy the wants of themselves and families, enable them to make their homes comfortable, and that alone would find employment for a goodly number, while those so employed would also be enabled to purchase the articles others are engaged in manufacturing. To produce so desirable a result, nothing is wanted but FREE TRADE repeal the corn and provision laws, and the shadow of "over production" could not exist: in three months there is not a man in the kingdom who would not have full work. And when we had supplied the physical wants of our population (a greater task than it appears at the first view), we should have introduced from every corner of the world the luxuries which refine civilization; the artisan building himself a house would then make it more comfortable and healthy, with wood floors, carpets, better furniture, &c.; and the master manufacturer erecting a house would have marble stairs and floor in his entrance hall, doors, &c. of mahogany, furniture, of rarer woods, and ornaments of marble, paintings, plate glass, &c.; and when all these things were procured, "over-production" would be still as far behind us as during their acquisition, as we would then work but three days a week instead of six, as with so much labour we should be able to procure the necessaries and luxuries of life.

And all nations would be compelled to minister to our real and created wants, for England is the only nation in the world incapable of internally supplying its inhabitants with food, and therefore, under Free Trade, has the command of the markets of the whole world. Then the English merchant going to, say America, to dispose of manufactures need not fear the merchant of France, Belgium, Germany, &c., he may meet there with similar goods; for the American asking each what he requires for the articles offered, is told by the former, "I will take your surplus corn in exchange, we want every year from six to ten millions of quarters;" and this latter answers, "We have more corn at home of our own growth than we can consume, I must have cash;" the American, preferring barter, will turn on his heel and trade with the Englishman; the unsuccessful applicant takes back his goods, or visits the market no more, and confines his future operations to the home supply of his own country, which in a short time, from competition and want of a foreign outlet, fail to realise a remunerating profit; trade is gradually relinquished; the people turn again to the more extensive cultivation of the land, and England obtains another customer. This is no "castle building," if there be the least affinity between the results of great things and small ones. If a grocer want a coat he will have it from the tailor who will take sugar and tea in payment, in preference to patronising one who requires pounds shillings and pence, and the owners of land in all countries will take right good care that they derive some sort of revenue from their possessions. I say, I think my premises are no "castle buildings;" neither do I think I am indulging in aerial erections when I predict that, under Free Trade, England, with her capital, and energy, and enterprise, would shortly become the world's granary, profitably supplying from her accumulated stores the deficiencies resulting from bad harvests, or other casualties of her continental neighbours.

Your obedient Servant, G.W.G.

* * * * *

We are much obliged to J. Livesay, of Preston, for his suggestion, which, however, if he compare the ECONOMIST with other weekly papers he will perceive to be unnecessary. We presume we are indebted to Mr Livesay for copies forwarded of his excellent little paper the Struggle.

* * * * *

R.B., Bristol.—From the great press of room last week we were obliged to omit everything that did not appear of very pressing haste. In the Preliminary Number we have used no statistics but such as we have derived from official sources, and we shall always be glad to give the authority on which any statistical statement is made. The statement of the quantity of sugar exported from Java and Madeira, page 10 of the Preliminary Number, will be found in Part VIII, 1838, page 408, of the Tables of Population, Revenue, Commerce, &c., presented by the Board of Trade to both Houses of Parliament, from 1826 to 1837;—and the quantities, from 1837 to 1841, are derived from the Dutch official accounts.

H.H., S—— court, London.—The returns showing the quantity of flax imported up to the 5th of August, viz., 774,659 cwts., are official, but do not distinguish the ports from which it was shipped. The latest year for which such distinction has been made to this time is for the year 1841; for which, or any preceding year back to 1832, we shall be glad to furnish the particulars: for example, in 1840 the imports of flax and tow were—from

Cwts. Russia 870,401 Denmark 1,094 Prussia 135,590 Germany 8,105 Holland 113,108 Belgium 80,748 France 43,295 Gibraltar 19 Italy and the Italian Islands 746 The Morea 3 Turkey 107 Egypt 12 United States 1 Guernsey, &c. 11 ————- Total - 1,253,240

C.D.F.——, near Rochdale.—The question connected with the New Customs Amendment Bill has engaged our best attention, but its investigation has raised two or three very nice points of international law, on which we are now taking the best opinion which can be obtained, and before our next number we shall be able to give a reply as satisfactory as can possibly be obtained from any quarter on this important but very nice question. We have now before us the whole of the particulars of the treaties in question, but we wish to make our reply valuable by giving the best legal construction on some disputable points. This, however, is only another of those daily evidences which we have of the absurdity and inconvenience of a great commercial country like this attempting to regulate its laws and transactions by treaties, which, however convenient they may be when made, may, by the ordinary course of events, be rapidly changed.



POSTSCRIPT.

LONDON, Saturday Morning, September 16, 1843.

STOCK EXCHANGE, HALF-PAST ELEVEN O'CLOCK.

There is little or no variation in English Stock: Mexican, which left off yesterday at 35-5/8 to 7/8, is now 33-3/4 to 34. Brazilian, which left at 73 to 75, is now 74 to 76. In other Foreign Stocks there is no alteration worth notice.

LIVERPOOL, FRIDAY EVENING, SEPTEMBER 15, 1843.

An active demand has been constantly kept up all the week, and a large business has been done daily. So far, however, it has been freely met by the holders; and the speculators and spinners have had an abundant choice of all qualities.

In American descriptions there is but little change in prices; the tendency, has been and still is in favour of holders; and it has been thought necessary to raise the quotations of "fair" Uplands and Mobile to 4-7/8d.; but there is so little actual change, that for the most part, the quotations remain as before. Brazils, Egyptian, and long stapled generally, have been more in demand, and may be considered 1/8d. higher. Sea Islands also within the fortnight are 1/2d. higher, making an advance in the ordinary to fair qualities from the very lowest point of 1-1/2d. to 2d. per lb.

A considerable part of the speculative business of this week has been prompted by the accounts from the United States, brought by the Hibernia and Great Western, the tenor of which is to confirm the previous impression as to short crops.

19,800 American, 100 Egyptian, and 300 Surat have been taken on speculation; and 1,000 American, 300 Pernam, and 200 Surat for export.

The following is the Statistical Review of our Cotton Market:—

Taken for Consumption: for Export:

from 1st Jan. to 15th Sept.

1842. 1843. 1842. 1843. 794,500 bales. 946,500 bls. 66,500 bls. 65,900 bls.

whole Import: 1842. 1843. 1,024,141 bls. 1,401,278 bls.

Computed Stock. Average weekly consumption. 15th Sept. 1st Jan. to 15th Sept. 1842. 1843. 1842. 1843. 593,000 bls. 834,000 bls. 21,556 bls. 25,689 bls.

For SUGAR there is rather more inquiry, at steady prices.—COFFEE; the sales of plantation trivial without change of price.—INDIGO, price firm at the advance of 3d. to 4d., established at public sale yesterday.—TEA; the market remains rather firm, and a moderate business has been done at previous rates. In other articles of produce a fair amount of business has been done, without any particular features to remark.

GRAIN.—There has been rather more demand for old WHEAT, and prices for this and all other articles in the trade are supported. Duty has been paid on nearly the whole of the bonded stock, and the rate is now on the advance.

* * * * *

The papers of this morning do not contain any intelligence of the slightest novelty or interest. Her Majesty and Prince Albert are enjoying themselves at Ostend in the society of their august relatives, the King and Queen of the Belgians. To-day (Saturday) the Royal party go to Bruges; on Monday to Brussels; on Tuesday to Antwerp; and on Wednesday return to England.

Barcelona is still in a state of insurrection; and though Madrid is tranquil, the state of Spain, as the Times remarks, is one of "simple confusion."

The Malta correspondent of the Morning Chronicle says that a report had been current at Bombay that it was the intention to order the next steamer for the overland mail to keep her direct course, in spite of the monsoon. The monsoon had, no doubt, driven her back.

Wales continues in a distracted state, and acts of incendiarism are common. The extraordinary verdict given by the inquest jury on the body of the unfortunate old woman who was shot, is the subject of general remark, as strikingly evincing the terrorism which prevails. There is even talk of the necessity of putting the country under martial law!

The very remarkable meeting held by Messrs Cobden and Bright, at Oxford, on Wednesday last, is the theme of general conversation in society. It is, indeed, a very striking evidence of the progress of free-trade principles amongst the agriculturists.

The Leeds Mercury of this morning, and other provincial organs of public opinion, in the great seats of our commerce and manufactures, all speak in cheerful terms of the decidly-improving prospects of trade.



THE LATEST FROM THE AMERICAN PRESS ON FREE TRADE—AUG. 24TH.

THE CORN-LAW CONTROVERSY.—A friend has placed in our hands numbers of the tracts which the corn-law reformers of England circulate among the people. They are about the size and length of the religious tracts of this country, and are put up in an envelope, which is stamped with neat and appropriate devices. These little publications comprise essays on all the topics involved in the corn-law controversy, sometimes in the form of dialogues, sometimes of tales, and sometimes of extracts from famous books and speeches. The arguments are arranged so as to be easily comprehended by the meanest capacities.

The friend to whom we are indebted for these is well informed on the subject, and says that a more advanced state of opinion prevails among the people of England, in relation to the operation of tariffs, than in this nation generally so much more enlightened. It is a singular spectacle which is thus presented to the eyes of the civilized world. While the tendency of opinion, under an aristocratic monarchy, is towards the loosening of the restraints under which the labour of the people has long suffered, a large and powerful party in a nation, whose theory of government is nearly a century in advance of the world, is clamouring for their continuance and confirmation. Monarchical England is struggling to break the chains that an unwise legislation has forged for the limbs of its trade; but democratic America is urged to put on the fetters which older but less liberal nations are throwing off. The nations of Europe are seeking to extend their commercial relations, to expand the sphere of their mutual intercourse, to rivet the market for the various products of their soil and skill, while the "model republic" of the new world is urged to stick to the silly and odious policy of a semi-barbarous age.

We look upon the attempt which is making in Great Britain to procure a revision of the tariff laws, as one of the most important political movements of the age. It is a reform that contemplates benefits, whose effects would not be confined to any single nation, or any period of time. Should it be successful, it would be the beginning of a grand and universal scheme of commercial emancipation. Let England—that nation so extensive in her relations, and so powerful in her influences—let England adopt a more liberal policy, and it would remove the only obstacles now in the way of a complete freedom of industry throughout the globe. It is the apparent unwillingness of nations to reciprocate the advantages of mutual trade, that has kept back this desirable reform so long. The standing argument of the friends of exclusiveness—their defence under all assaults, their shelter in every emergency—has been that one nation cannot pursue a free system until all others do, or, in other words, that restriction is to be met by restriction. It is a flimsy pretence, but such as it is, has answered the purposes of those who have used it, for many centuries.

The practice of confining trade by the invisible, but potent chains of law, has been a curse wherever it has prevailed. In England, more dependent than other nations on the extent of its commercial intercourse, it may be said to have operated as a scourge. The most terrible inflictions of natural evil, storms, famine, and pestilence, have not produced an equal amount of suffering. Indeed, it has combined the characteristics of the worst of those evils. It has devastated, like the storm, the busy hives of industry; it has exhausted, like famine, the life and vital principle of trade; and, like the pestilence, it has "walked in the darkness and wasted at noon-day." When we read of thousands of miserable wretches, in all the cities and towns of a great nation, huddled together like so many swine in a pen; in rags, squalor, and want; without work, bread, or hope; dragging out from day to day, by begging, or the petty artifices of theft, an existence which is worthless and a burden; and when, at the same time, we see a system of laws, that has carefully drawn a band of iron around every mode of human exertion; which with lynx-eyed and omniscient vigilance, has dragged every product of industry from its retreat to become the subject of a tax, can we fail in ascribing the effect to its cause, or suppress the utterance of our indignation at a policy so heartless and destructive?

Yet, this is the very policy that a certain class of politicians in this country would have us imitate. Misled by the selfish and paltry arguments of British statesmen, but unawed by the terrible experience of the British people, they would fasten upon us a system whose only recommendation, in its best form, is that it enriches a few, at the cost of the lives and happiness of many. They would assist a constrictor in wrapping his folds around us, until our industry shall be completely crushed.

* * * * *

ST OLAVE'S CHURCH.—The rebuilding of this church in the early part of the last century cost the parishioners a less sum than the organ. The old church having fallen down, the new one (that recently destroyed by fire) was erected by raising an annuity of 700l., and the granter died after receiving the first half year's payment of 350l. The organ was the most ancient instrument in the metropolis.



FREE-TRADE MOVEMENTS.

MESSRS COBDEN AND BRIGHT AT OXFORD.—IMPORTANT MEETING OF FREEHOLDERS AND FARMERS OF THAT COUNTY.

As we stated last week, announcing the intention, Mr Cobden and Mr Bright visited Oxford on Wednesday, for the purpose of addressing the freeholders and farmers of the county on the subject of the corn laws.

Very considerable excitement had prevailed in the city and the surrounding districts in consequence of the proposed visit of Mr Cobden, but it does not appear that the landowners on the present occasion, through the medium of the farmers' clubs and agricultural associations, thought fit to get up an organised opposition, similar to that at Colchester, or interfere to prevent their tenants from attending, as at Reading. The consequence was a very large number of farmers were present at the meeting, although it is well known that the harvest is not in such a state of forwardness as to allow them to absent themselves from their ordinary occupations without considerable inconvenience.

It is a circumstance worthy of notice, and strongly indicative of the present state of public feeling upon the subject, that in a purely agricultural district, at a county meeting regularly convened by the High Sheriff, the whole of the county members being present, two of whom spoke in favour of protection, supported by many influential men of their own party, no person ventured to propose a resolution in favour of the present corn law, and that even the resolution for a low fixed duty made by two of the most popular men and largest landed proprietors in Oxfordshire, Lord Camoys and Mr Langston, was supported by only three or four individuals out of a meeting of nearly 3,000 persons.

Early in the morning, a protectionist champion presented himself, not in the guise either of a freeholder or farmer of the county, but in the person of a good-humoured, though somewhat eccentric printer, named Sparkhall, who had come from the celebrated locale of John Gilpin—Cheapside, and who having armed himself with a large blue bag fitted with elaborate treatises upon the corn laws, and among other pamphlets a recent number of Punch, forthwith travelled to Oxford, and by the kind permission of the meeting was permitted to essay a speech, about what nobody could divine, and in a manner truly original. It is, however, due to the monopolists of Oxfordshire to state that they did not accredit their volunteer champion, and even went so far as to request that he would "bottle up" his eloquence for some future opportunity.

At two o'clock, the hour appointed for the proceedings to commence, the County hall, which is capable of containing 1,800 persons, was nearly filled.

Mr Cobden and Mr Bright, who had been dining at the farmers' ordinary, held at the Roebuck hotel, arrived shortly after two, and were accompanied to the place of meeting by a large number of influential farmers and leading agriculturists, who had met the honourable members at the market table. They at once proceeded to the gallery, where, among others at this time, were Lord Camoys, of Stonor hall, Oxon; the three members for the county, Lord Norreys, Mr Harcourt, and Mr Henley; Mr Langston, M.P. for the city of Oxford; Mr Thomas Robinson, banker; Mr Charles Cottrell Dormer, Mr J.S. Browning, Mr W. Dry, Mr W. Parker, Captain Matcham, Rev. Dr Godwin, Rev. W. Slatter, Mr Richard Goddard, Mr H. Venables, Messrs Grubb, Sadler, Towle, Weaving, Harvey, &c.

On the motion of Lord Cambys, seconded by Mr Langston, M.P., Mr Samuel Cooper, of Henley-on-Thames, under-sheriff for the county, was, in the absence of the high sheriff, called to the chair.

The Chairman said he regretted very much that the high sheriff was prevented from attending the meeting, which had been convened in consequence of a requisition presented to the sheriff by several freeholders of the county. Having read the requisition, he introduced

Mr Cobden, who proceeded for some time to address the meeting on the fallacy of the present corn law as a protection to the farmer, amid frequent cries for adjournment, in consequence of the crowded state of the hall, and

Mr Sadler having intimated that several hundred persons were waiting at the Castle green, at which place it had been generally expected the meeting would ultimately be held, moved its adjournment to that spot, which was immediately agreed to.

Several waggons had been brought to the green, for the purpose of forming a temporary platform, and the meeting being again formed,

Mr Cobden resumed, and, in his usual powerful manner, explained the influence of the corn law upon the tenant, farmer, and farm-labourer, urging the necessity of free trade as the only remedy for agricultural as well as manufacturing distress. The honourable member was loudly cheered during the delivery of his address, which evidently made a deep impression on the large proportion of his auditory.

Mr Sparkhall then came forward. Mr Cobden having kindly interceded to obtain him a hearing, and having duly arranged his books and papers, he at once commanded the serious attention of the meeting, by stating broadly as the proposition he was about to prove—that the repeal of the corn laws would plunge the nation into such a state of depression as must ultimately terminate in a national bankruptcy. After quoting from the Honourable and Reverend Baptist Noel, Mr Gregg, and other passages, the relevancy of which to his proposition no one could discover, he bewildered himself in a calculation, and gladly availed himself of a slight interruption to make his bow and retire.

Lord Camoys next addressed the meeting. He said Mr Cobden came among them either as a friend or an enemy. If he came as a friend, it was the duty of all to receive him as such; but if as an enemy, then it behoved the farmers of Oxfordshire to meet him boldly, and expose the fallacy of his arguments. For himself he (Lord Camoys) believed Mr Cobden came as a friend. He was not one of those who were afraid of the Anti-Corn-law League; but he was afraid of that class who designated themselves the farmers' friends. He thought if they were to give the Anti-Corn-law League 50,000l. a year for fifty years, it would never do half the mischief to agriculture that the farmers' friends themselves had done. (Hear, hear.) It was this impression that had induced him to sign the requisition that had been laid before him, for he was anxious that the farmers of Oxfordshire should have the benefit of any information that could be given to them on the subject. There were three courses open for discussion. The first was the sliding scale (cries of "no, no"); the second a low fixed duty; and the third, a total and immediate repeal of the corn law. (Hear, hear.) He believed the sliding scale was already on its last legs; indeed, it was only defended by a few country gentlemen and fortunate speculators, who had by a lucky chance contrived to realise large fortunes. He was himself for a low fixed duty, and Mr Cobden advocated free trade. There was not so much difference, after all, between them; but he considered that to apply the principles of free trade to England, would be to apply the principles of common sense to a deranged country, suffering under the pressure of an enormous debt. He thought the English farmer should be placed on a level with the continental corn-grower; but he did not think the mere expense of transit would have the effect of securing this as argued by Mr. Cobden. With this view he should propose to the meeting the following resolution:—"That the agricultural interest being the paramount interest in this country, to depress that interest would be injurious to the entire community; that suddenly to adopt free trade in corn must produce that effect, and that, therefore, it is the opinion of this meeting that a moderate fixed duty upon the importation of foreign grain is the one best adapted to the present position of the agricultural interest and the welfare of the country."

This resolution was seconded by Mr Langston, M.P., but this gentleman gave way for

Mr Bright, who, upon presenting himself, was received with load cheering. In an eloquent address he clearly demonstrated that the only way in which the corn laws could benefit the farmer was by making food dearer, which could only be done by making it more scarce. That the advantage of such high prices invariably went to the landlord in the shape of rent, in consequence of the immense competition for farms, arising from the increase in the agricultural population, and the difficulty of providing for them in commerce and manufactures, owing to the depressed condition to which they had been reduced by the operation of the corn laws. High prices could only be obtained by the farmer from the prosperity of his customers. In reply to the resolution of Lord Camoys, the honourable gentleman stated, that with regard to agriculture being the paramount interest of the country, there could be no doubt in every country there must be land for the people to live on, and so far it was the paramount interest; but he denied that anything like half the population of England were engaged in agricultural pursuits. The agricultural interest would not be depressed, nor would the community be injured by free trade. He would put it to the meeting whether they would have a low duty or no duty at all. (Loud cries of "no duty.") A fixed duty of 6s. would raise the price that amount, and the whole would go into the pockets of the landlord. The honourable gentleman concluded his address amid loud cheers.

Lord Norreys next spoke in favour of the existing corn laws, attributing the distress under which all classes at present laboured to the over-production of the manufacturers.

Mr Langston, M.P., having replied to his lordship,

Mr Henley, M.P., addressed the meeting at some length, in favour of the present restrictive duties on the importation corn. The honourable member concluded by observing that he had attended the meeting because it had been convened by the high sheriff; and he thanked them for the patience with which they had listened to his observations, though neither he nor his colleagues considered it to be properly designated as a farmers' meeting, the majority present being composed of other classes.

Mr Cobden briefly replied; and

Mr Towle (a tenant farmer) moved the following amendment, "That in the opinion of this meeting the principles of free trade are in accordance with the laws of nature and conducive to the welfare of mankind, and that all laws which interfere with the free intercourse of nations, under the pretence of protection to the agricultural, colonial, or manufacturing interests, ought to be forthwith abolished."

The motion having been seconded, was put, and declared to be carried, with only three dissentients.

Mr Henley then proposed, and Mr Cobden seconded, a vote of thanks to the chairman, who briefly acknowledged the compliment, and three cheers having been given for free trade the meeting separated, having lasted nearly five hours.

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PUBLIC DINNER TO R. WALKER, ESQ., M.P., BURY.—On Wednesday week a public dinner was given, in the Free-Trade Pavilion, Paradise street, Bury, by the electors of Bury, to the above-named gentleman, for his constant advocacy of Liberal principles in the House of Commons. The meeting, though called to do honour to the worthy representative of Bury, was emphatically a gathering of the friends of free trade, Mr Bright, Dr Bowring, Mr Brotherton, &c., being present.

DR BOWRING'S VISIT TO HIS CONSTITUENTS.—Dr Bowring arrived in Bolton, on his annual visit, on Thursday week. In the course of the afternoon he called upon several of the leading reformers and free-traders of the borough; and in the evening, according to public announcement, he attended at the Temperance hall, Little Bolton, to address the inhabitants generally. The doors of the hall were opened at seven o'clock, and hundreds immediately flocked in. At half-past seven, the hall was crowded to excess in every part. On Dr Bowring's entrance, he was greeted with loud cheers. The chief portion of the proceedings consisted in the speech of the learned and honourable member, who, as might be expected, dwelt with great power on the question of questions—free trade. We have only room for the following eloquent passage: "The more I see of England, the prouder I am to recognise her superiority—not alone in arms—about that I care little, but in manufacturing arts, the peaceful arts, which really reflect glory on her people. (Cheers.) Give us fair play and no favour, and we need not fear the strength of the whole world. (Hear.) Let us start in an honest rivalry—let us get rid of the drawbacks and impediments which are in the way of our progress, and sure I am that the virtues, the energies, the industry, the adventurous spirit of the manufacturers and merchants of England, which have planted their language in every climate and in every region, would make them known as benefactors through the wide world. They are recognised by the black man as giving him many sources of enjoyment which he had not before; by the red man as having reached his fields and forests, and brought to him in his daily life enjoyments of which his ancestors had no notion; by all tribes and tongues throughout the wide expanse of the earth, as the allies of improvement, and the promoters of happiness. Sure I am that England—emancipated England—the labourers—the artisans of England, may do more for the honour and reputation of our country than was ever done by all the Nelsons and Wellingtons of the day. (Loud cheers.) I was struck very much, the other day, by the remark of one of the wisest and best men of our times, from the other side of the Atlantic, who said, 'I am not dazzled by the great names which I see recorded in high places; I am not attracted by the statues which are raised to the men whom you call illustrious, but what does strike me, what does delight me, what does fascinate me, is to trace the working man of England to his home; to see him there labouring at his loom unnoticed and unknown, toiling before the sun rises, nor ceasing to toil when the sun has descended beneath the mountain. It is that man, the missionary of peace, who forms the true link of alliance between nation and nation, making all men of one kindred and of one blood,—that man upon whose brow the sweat is falling,—that man whose hands are hardened by labour,—that is the man of whom England has a right to be proud—(hear)—that is the man whom the world ought to recognise as its benefactor.' (Cheers.) And, gentlemen, in such sentiments I cordially agree, and the time will come when the names of men who are called illustrious, at whose feet we have been rolling out torrents of wealth, whom we have been crowning with dazzling honours—those men will pass away into the realms of forgetfulness, while the poor and industrious labourer, who has been through the world a herald and apostle of good, will be respected and honoured, and upon him future times will look as the real patriot, the real philanthropist, the real honour of his country and of his countrymen." The proceedings were closed by the unanimous thanks of the meeting being given to Dr Bowring.

FREE TRADE.—We are glad to learn, from a correspondence in the Liverpool Albion, that W. Brown, Esq., the head of the eminent house of Brown, Shipley, and Co., of Liverpool, has declared his adherence to the cause of perfect freedom of trade, contributing, at the same time, 50l. to the funds of the Liverpool Anti-Monopoly Association.

CORN TRADE OF FRANCE.—The Moniteur publishes the return of the corn trade in France during the month of July, from which it appears that the imports were—wheat, 45,896 metrical quintels; other grain, 23,389; and flour, 613. The exports—wheat, 14,318; other grain, 11,506; and flour, 2,435. The quantities lying in the government bonding stores on the first of August were—wheat, 28,405 metrical quintals; other grain, 9,378; and flour, 11,051.

ANTI-CORN-LAW MEETING AT HAMPSTEAD.—The opponents of the corn laws resident at Hampstead assembled on Tuesday night, in crowded meeting, at the Temperance hall of that locality, to hear Mr Sidney Smith deliver an address on the evils of the corn laws. The meeting was the first of the kind since the formation of the new association, and there were several of the respectable inhabitants of the neighbourhood present. Mr Smith entered at length into the whole question of the monopolies from which the people of this country suffer. He showed, conclusively, and by a reference to facts and comparisons with other countries, that "protective" duties were injurious to the best interests of the community, as they were productive of abridgment of the people's comfort, and of taxation on everything that they could see or touch. He illustrated the advantages that would arise from free trade, by a reference to the great increase of consumption of the article of coffee since the reduction of the duty of half a crown on the pound weight to ninepence; the consumption at that period (1824) having been but eight millions of pounds weight, while at present, it was twenty-eight millions. The learned gentleman, who spoke for upwards of two hours, concluded amid loud cheers. Three cheers which were proposed for the Charter proved a decided failure; while, on the other hand, three were proposed for a repeal of the corn laws, which were responded to by nearly the whole of the crowded meeting.

MR EWART AND HIS CONSTITUENTS.—William Ewart, Esq., the indefatigable member for the Dumfries District of Burghs, is at present paying his respects to his constituents, after the recess of what has been to him a laborious session of parliament, however little may have been effected during its course by the government and the legislature. On Thursday evening he addressed a large meeting in this town. On Friday he visited Lochmaben, and on Saturday Sanquhar, and addressed the inhabitants of both these burghs.—Dumfries Courier.



MISCELLANIES OF TRADE.

STATE OF TRADE.—Owing to the continued absence of the Overland Mail, the demand for manufactured goods, and especially for shirtings, has been limited; but, as stocks are low, prices remain tolerably steady. For yarn the demand continues good, and prices very firm, but the spinners are so generally engaged, that no great amount of business has been done.—Manchester Guardian of Wednesday.

COMMERCIAL INTERCOURSE BETWEEN ENGLAND AND THE UNITED STATES.—The circumstances of America are such as to require, for the furtherance of its own interests, a large and extended commercial relationship with England. There is nothing wanting but a movement on our part for the speedy establishment of an unbounded trade. Both countries are so situated that they need never become rivals, provided they consent to co-operate with each other. It is because they have not been permitted hitherto so to do that we now hear of an embryo manufacturing system in America. We have already built Lowell in New England, and Pittsburg in Western Pennsylvania; and will yet, unless we change our system, drive the enterprising republican to efforts which may be more generally and more permanently successful.—Morning Chronicle.

TRAVELLING BETWEEN ENGLAND AND FRANCE.—The number of persons who passed from England to France, by Boulogne, in the week from 1st to 7th September inclusive, was 2,409, and by Calais, 838. It appears that the opening of the Southern and Eastern Railway as far as Folkestone has increased the number of travellers between England and France by nearly one-half. The number in August, 1842, was 7,436, while during the past month it has been no less than 10,579, showing an increase of 3,143.

STEAM V. WATER.—Owing to the Birmingham and Gloucester Railway Company having reduced their charge for all kinds of goods to 6s. per ton between Gloucester and Cheltenham; most of the carriers in this city will be compelled to avail themselves of this mode of conveyance, it being impossible for them to compete with the Railway Company. The consequence will be that some thirty or forty boats will speedily be "laid up in ordinary," to the sorrow of three or four times the number of boatmen, who will of course be thrown out of employ.—Worcester Chronicle.

THE NEW TARIFF.—"The imports of foreign beasts since Monday last (one week) have been confined to twenty-five into London by the Batavier steamer from Rotterdam." (London Markets Report, September 11.) Can any clever master of fractions calculate the effect of this importation on the Smithfield market, and the benefit thence accruing to the citizens of London as a set-off to the payment of their income-tax?

IMPROVEMENT OF TRADE—ROCHDALE.—The piece market has been uncommonly brisk to-day, and all the goods on hand have been cleared off. At present all the workmen are in full employment, though at very low wages; but a few markets of this kind will have a tendency to get up wages. The ready sale of goods has given a buoyancy to the wool market, and the dealers in the raw material have not been so eager to sell at former prices.

STATE OF TRADE—PAISLEY.—So far as ample employment to all engaged in the staple manufactures of the town is concerned, trade still continues favourable for the workman, but the manufacturers generally complain that, for the season, sales are late of commencing, and many of them are already rather slackening their operations to keep their stocks down. The unexpected procrastination in the commencement of the fall trade is reasonably accounted for by the fineness of the weather.

"A Merchant of twenty-five years' standing, and an Old Subscriber," calls attention to the unusual state of things now so long existing in the Money Market, by the fall in the rate of interest to 1-3/4 and 2 per cent. upon the first class commercial bills. He states that a friend of his has lately lent 100,000l. at 1-1/2 to 2 per cent., being the highest rate he could obtain. This condition of the Money Market he attributes to the large amount of paper money in circulation, compared with the demands of commerce. Our correspondent favours us with some figures, illustrative of his views, from November, 1841, to the present month, taken from the Gazette returns, and observing that there has been a serious fall in the value of merchandise equal to one-fifth or one-sixth, with some exceptions during the last year and a half, he accounts by the juxtaposition of his figures, denoting the amount of paper in circulation, and this assumed fall in the price of merchandise for the present anomalous condition of the Money Market, and for the apparent worthlessness of capital. We cannot agree, however, with our correspondent to the full extent, because the very low prices of commodities, with a minimum rate of interest for money, proves that there is no fictitious or inflated excess of paper money. The anomalous state of the Money Market proceeds, we believe, from a redundancy, not of mere paper, but of capital which cannot find investment, superinduced by stagnation of trade, and the want of commercial enterprise, occasioned by the restrictive nature of our duties on imports.—Morning Chronicle.

The accounts from the United States mention that the greatest activity prevails among the manufacturers in their purchases of the raw material for the year's consumption.



POLICE.

EXTRAORDINARY CHARGE.—Captain, William Tune, the Commander of a steam packet called the City of Boulogne, the property of the New Commercial Steam-Packet Company, on Monday appeared at the Mansion House to answer the complaint of the directors of that company, by whom he was charged with being privy to the abstraction of four packages, each containing gold, checks on bankers, bank-notes, and bills of exchange, which had been previously booked at the company's office in Boulogne, and paid for according to the rates agreed upon by the company, and which, with others, had been entrusted to his care. After evidence had been adduced, Mr Wire requested that Captain Tune should be remanded for a week, and stated that the directors being anxious that he should receive as much accommodation as might be consistent with the respectability of his character and the nature of the difficulty in which he was at present involved, were desirous that bail should be taken for his appearance on the next day of investigation.—Alderman Gibbs: I shall require two respectable securities for 500l. each, and Captain Tune to be bound himself in the sum of 1,000l.—The captain was then remanded for a week. A curious fact came out on the inquiry as to the value of each package. They were all, it appeared, entered and paid for as containing a sum of money much inferior to what each package really contained.

MATRIMONIAL ADVERTISEMENTS.—An unlucky man, who, in order to get a family by a deceased wife taken care of, had been induced to marry a worthless drunken woman, through the medium of a matrimonial advertisement, applied at Union Hall for advice, but, of course, nothing could be done for him.

AWKWARD PREDICAMENT.—A man advanced in years, named David Simms, who was claimed by two wives, and nearly torn in pieces by them, was committed from Union Hall, on a charge of bigamy.

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SINGULAR DETECTION OF AN EXTENSIVE SWINDLER.—A man named William Cairnes, alias Thomas Sissons, with a host of other aliases, was placed before the magistrates at the Borough Court, Manchester, charged with one of the most singular attempts at fraud we ever remember to have heard. The prisoner, who was a respectable-looking old man, gave his name William Carnes. Under the pretence of giving employment to a labouring man, on getting specimens of his handwriting, he got him to write his name across two blank bills, in the form of acceptance. He has been remanded for further inquiry.

EMBEZZLEMENT.—Theodore Grumbrecht, a confidential clerk in the extensive India house of Messrs Huth and Co., was arrested on board the Bucephalus, bound for New Zealand, whither he was going. The charge against him is extensive embezzlement.



ACCIDENTS, OCCURRENCES, AND OFFENCES.

SINGULAR ACCIDENT.—An accident occurred at Outwell on the 29th ult. A child, three years old, went to play in a donkey cart, in which a rope coiled and knotted had been placed to dry. The rope was doubled the greater part of the way; and, being knotted, was full of steps or meshes; in one of these the child got his head and unfortunately falling at the same time from the cart, which was propped up as if the donkey were between the shafts, the rope caught on the hook in front of the cart, and held the child suspended a short distance from the ground. He was found quite dead. An inquest was held on the body of the child, and the jury returned a verdict of accidental death.—Bury Post.

AFFRAY WITH SOLDIERS.—On Tuesday the greatest excitement prevailed throughout Westminster in consequence of repeated outbreaks between the military and the lower, or perhaps we might with propriety say the lowest order of inhabitants of this populous district. The tumult having continued during the whole of the day it was anticipated, and justly, that when night came on, it would increase rather than diminish, although during the whole of the afternoon various parties of the military were seen searching for and escorting to the barracks, the delinquent and disorderly soldiers engaged in the affray.

FIRES IN THE METROPOLIS.—On Saturday night the greater portion of the extensive premises of Messrs Cleaseley, floor-cloth manufacturers, Grove street, Walworth common, were destroyed by fire.—On Monday morning the shop of Mr Crawcour, a tobacconist, Surrey place, Old Kent road, was burnt to the ground.—On Tuesday morning, about a quarter to four o'clock, a city police constable discovered fire in the lower part of the extensive premises, nearly rebuilt, of the Religious Tract Society, Paternoster row, through some unslacked lime having been left by the workmen among some timber the previous night. To the vigilance of the officer may justly be attributed the saving of much valuable property from destruction.

FIRE AT BRISTOL.—The old Castle Tavern, Bristol, was burned on Thursday, the 7th inst., and the landlord, who was an invalid, perished in the flames. The fire was caused by the carelessness of a niece, in attendance on the invalid, who set fire to the bed furniture accidentally with a candle. The little girl Lydia Groves, who so courageously attempted to extinguish the bed curtains, has sunk under the shock she then experienced.



SPORTING INTELLIGENCE.

DONCASTER MEETING.—This much-talked-of meeting commenced on Monday, Sept. 11, at two o'clock precisely. The regulations, in every minor detail, answered the purposes for which they were respectively intended; particularly the one affecting those persons who have proved themselves "defaulters," as such were refused admission to the stands, the ring, the betting-rooms, and every other place under the jurisdiction of of the stewards. Many improvements and alterations have been made, and no expense spared towards securing the comfort of all. The different stands have undergone a complete renovation, and present a very striking and handsome appearance, very unlike their neglected condition in former years. On Sunday evening a tremendous storm came on, accompanied with hail and extraordinarily vivid lightning; in fact, it was truly awful to witness—the rain literally pouring down in torrents, and the flashes of lightning following each other in rapid succession. Happily the storm was not of very long continuance, commencing about half-past six, and terminating about seven o'clock; but, during that short period, it was sufficient nearly to drown the "unfortunates," who were travelling outside per coach from Sheffield, York, Leeds, &c., and who, on alighting, presented a most wretched appearance. The morning of Monday was dark and lowering, but towards eleven or twelve o'clock the weather cleared up and remained very fine. The course, notwithstanding the rain, was in the very best possible order, the attendance large, beyond any former example on the first day, punctuality as to the time of starting was very strictly observed, and the sport was first rate. The great event of these races is the St Leger stakes, which on this occasion were run for in three minutes and twenty seconds. Mr Bowes's "Cotherstone," the winner of the Derby, was the favourite, and was confidently expected to gain the St Leger. But it only came in second, being beaten by Mr Wrather's Nutwith, and only gained by a neck on Lord Chesterfield's Prizefighter, which was third.

WOOLWICH GARRISON RACES.—The officers of the garrison at Woolwich having resolved on testing the value and quality of their horses by races, the first day's sport came off on Wednesday; and owing to the great number of spectators, of whom there were upwards of 10,000, on the ground, and the fineness of the weather, the scene was more animated than on any former occasion. A spacious booth was erected on the ground and was well filled throughout the day. Upwards of 100 carriages, containing families, were drawn up along both sides of the course, and hundreds of gentlemen on horseback occupied various parts of the Common where the races took place; presenting altogether an enlivening and interesting spectacle. The band of the Royal Artillery attended in front of the booth, and played, with very little intermission, some of the finest airs from one o'clock to seven o'clock, p.m.

On Thursday, the second day, a slight shower of rain, about one o'clock, p.m. prevented the races from being so well attended by spectators as they were yesterdy, yet the attendance was numerous in the afternoon, and great interest existed amongst the officers of the garrison, and many sporting gentlemen, to witness the result.



AGRICULTURAL VARIETIES.

THE BEST HOME MARKET.—The Norwich Mercury of last Saturday contains no less than seventy advertisements relating to the sale of farming stock; and a majority of these are cases in which the tenant of the farm on which a sale is announced is described as one "quitting the occupation," or "retiring from business." We should like to know how many of those parties have managed to amass a fortune, or even to acquire a moderate competency, under that protective system which, as they have always been taught to believe, was devised for their especial benefit. From the ominous newspaper paragraphs, announcing the liberality of landlords to their tenants, which have lately become so numerous, we rather suspect that most of those farmers who are retiring from business do so to avoid greater evils. It is worthy of remark, however, that, amidst all this agricultural depression, which has now lasted some twelve months at least, the "home trade"—which the advocates of the corn law always describe as entirely dependent on the farmers obtaining high prices for their grain—is in a healthier state than it has been for several years past. The Standard lately stated, on the authority of a Mr Spackman, that the United Kingdom contained 20,500,000 individuals dependent on agriculture, and only 6,500,000 individuals dependent on manufactures; and, as we have frequently seen the same absurd statement brought forward at farmers' clubs as "agricultural statistics," it is possible enough that many persons may have been led to believe it. Those who do so, however, would find it rather difficult to explain, under such a division of the population, the fact, that during four or five years of high prices, which the Duke of Buckingham designated "agricultural prosperity," the 20,500,000 souls should have been unable to create a brisk demand for manufactures; while a single year of cheap provisions has done so much to improve trade, and relieve the pressure from the shoulders of the labouring classes. Who that looks at these two facts can have the slightest doubt in his mind as to what it is that makes the best home market?—Manchester Guardian.

CURIOUS AGRICULTURAL EXPERIMENT.—The following novel and interesting experiment has lately been successfully made by Mr A. Palmer, of Cheam, Surrey:—In July, 1842, he put one grain of wheat in a common garden-pot. In August the same was divided into four plants, which in three weeks were again divided into twelve plants. In September these twelve plants were divided into thirty-two, which in November were divided into fifty plants, and then placed in open ground. In July, 1843, twelve of the plants failed, but the remaining thirty-eight were healthy. On the 19th August they were cut down, and counted 1,972 stems, with an average of fifty grains to a stem, giving an increase of 98,600. Now, if this be a practicable measure of planting wheat, it follows that most of the grain now used for seed may be saved, and will infinitely more than cover the extra expense of sowing, as the wheat plants can be raised by the labourer in his garden, his wife and children being employed in dividing and transplanting them. One of the stems was rather more than six feet long, and stout in proportion.

CULTIVATION OF WASTE LANDS.—EMPLOYMENT OF LABOURERS.—A paper was recently laid before the Council of the Royal Agricultural Society of England, by Lord Portman, which we think deserves a much greater degree of attention than we believe it has yet received, in that it shows to what a considerable extent waste lands may, without any very heavy expenditure of money, be brought into profitable cultivation, and at the same time, under a well-regulated system of spade husbandry, yield abundant employment to agricultural labourers and their families. The following is the substance of the document referred to:—His lordship, who has large estates in Dorsetshire, found that a tract of land, called Shepherd's Corner, about 200 acres in extent, was wholly unproductive, yielding a nominal rent of 2s. 6d. per acre. About fifteen years ago his lordship resolved to make an experiment with this land. He accordingly gave directions to his steward that it should be laid out in six divisions, representing so many small farms, in the cultivation of which such of the labourers as could not obtain full work from the neighbouring farmers were occasionally employed. For the three first years there were no returns, the ground having been merely broken up with the spade, and the surface soil exposed. In subsequent years this land was sown chiefly with turnips, fed off by sheep, until it was found in sufficient heart for the reception of grass and corn seeds, the crops from which were at first scanty and indifferent, but sufficient, however, to pay for cultivation. At the expiration of fifteen years the expenditure upon the whole, inclusive of allowance for rent, at the original rate of 2s. 6d. per acre, together with all charges on account of tithes and taxes, amounted to a little more than 10,000l.; the returns by crops sold and sheep fed exceeding that sum by 88l., independent of the crops now in the ground, which will come to the landlord in September. This may appear to be an inadequate return for the fifteen years' experiment; but, as Lord Portman justly observes, "as a farmer he has lost nothing, whilst as landlord he is a considerable gainer, the land being now fully equal to any of the neighbouring farms." Two objects, both of great importance, have thus been obtained. These 200 acres have been fertilized, which would otherwise have been of no present or prospective value; and in the process of cultivation employment has, during that long period, been provided for several hundreds of labourers who, but for that resource, must, at some seasons at least, have become a burden to the parish.



OUR LIBRARY TABLE.

FREE TRADE, RECIPROCITY, AND COLONIZATION.

The Budget; a Series of Letters, published at intervals, addressed to Lord John Russell, Sir Robert Peel, Lord Stanley, and Lord Eliot, on Import Duties, Commercial Reform, Colonization, and the Condition of England. By R. Torrens, Esq., F.R.S.

The Edinburgh Review. No. CLVII. Article, Free Trade and Retaliation.

The Westminster Review. No. LXXVIII. Article, Colonel Torrens on Free Trade.

Our readers are not, in general, unacquainted with the public character and literary reputation of Colonel Torrens. He is, we believe, a self-taught political economist; and, like Colonel Thompson, early achieved distinction in a branch of moral science not considered particularly akin to military pursuits. But in his recent labours, he has very seriously damaged his reputation, by attempting to bolster up a policy whose influence on the welfare of the nation has been of the most deadly and pernicious kind; and we therefore advert to the letters called the Budget, more with the view of showing that they have been analysed, and their mischievous principles thoroughly refuted, than with any intention of entering at large into the discussion.

It was, we believe, in the autumn of 1841, immediately following the accession of the present Government to office, that Colonel Torrens commenced the publication of his letters called the Budget. The two first were addressed to Lord John Russell, and professed to show that the commercial propositions of the late Whig Government would, if adopted, have altered the value of money, increased the pressure of taxation, and aggravated the distress of the people. The third letter was on commercial reform, addressed to Sir Robert Peel. The remainder of the series were on colonization and taxation, on the expediency of adopting differential duties, &c.; concluding with one on the condition of England, and on the means of removing the causes of distress; which was afterwards followed by a Postscript, in which the author, addressing Sir Robert Peel, said—

"I would beg to submit to your consideration what appears to me to amount to a mathematical demonstration, that a reduction of the duties upon foreign production, unaccompanied by a corresponding mitigation of the duties imposed by foreign countries upon British goods, would cause a further decline of prices, of profits, and of wages, and would render it doubtful whether the taxes could be collected, and faith with the public credit or maintained."

Opinions like these, coming from a man considered to be of some little authority in economical science, were certainly important. The time was serious—the crisis really alarming. A new Government had come into power, and it was thought and expected were about to effect great changes. Even the Quarterly Review, alarmed by the aspect of affairs, came round, in the winter of 1841, to advocate commercial reform. At this critical period Colonel Torrens stepped forward. What his motives were we do not know; though we know that men neither harsh nor uncharitable, and with some opportunities of judging, considered that Colonel Torrens, soured by political disappointments and personal feeling, had permitted himself to be biassed by hopes of patronage from the new Government. The pamphlets composing the Budget only appeared at intervals: but so far as they were then published, did attract considerable attention; the mere supporters of pure monopoly did not, of course, understand them: but that body who may be appropriately enough termed middle men, were not unaware of the value of such support as that afforded by Colonel Torrens, in staring off changes which seemed inevitable. Sir Robert Peel, too, was then in the very midst of his lesson-taking; and as he deeply studied Mr Hume's Import Duties Report, before he brought out his new Tariff, we need not consider it to be very discreditable to him, that he read the pamphlets of Colonel Torrens before he tried his diplomatic commercial policy.

At all events, one of the chief arguments with which Sir Robert Peel and Mr Gladstone justified the great omissions of the new Tariff, was the fact that the Government was engaged in negotiations with other countries in order to obtain treaties of reciprocity. The utter failure of these efforts Sir Robert Peel has repeatedly confessed, accompanied with a sigh over the inutility of the attempt; and the last time that he adverted, in the House of Commons, to the authority of Colonel Torrens (he was citing the Postscript to the Letter addressed to himself) it was with the kind of manner which indicated want of confidence in the guide who had misled him. Whether or no, however, he had relied on that authority in his negotiations with other countries during his futile attempts to obtain commercial treaties, this much is certain enough, that Colonel Torrens did what he could to strengthen the old notion, that it was of no use for us to enlarge our markets unless other countries did so also at the same time and in the same way; and in condemning all reduction of import duties that was not based on "reciprocity," he certainly added all the weight of his authority to prop up a system whose injurious influence has affected the very vitality of our social state, and whose overthrow will yet require no small amount of moral force to effect.

We are far indeed, from undervaluing treaties of reciprocity; but to make them a sine qua non in the policy of a country whose condition is that of an overflowing population, a deficient supply of the first necessaries of life, and a contracted market for its artificial productions, is an error of the first magnitude. Therefore, though not attaching primary importance to the Budget of Colonel Torrens, or believing that it could ultimately have any great effect in retarding the effectual settlement of the great question, it was not without some feeling of satisfaction that we perused the able article in the last Edinburgh Review, in which his delusions are completely set at rest. We quite agree with the writer (Mr Senior, it is said) that "if the Budget were to remain unanswered, it would be proclaimed in all the strongholds of monopoly to which British literature penetrates—in Parliament, in Congress, in the Algemeine Zeitung, and in the councils of the Zollverein—that Adam Smith and the modern economists had been refuted by Colonel Torrens; that free trade is good only where reciprocity is perfect; that a nation can augment its wealth by restraining a trade that was previously free; can protect itself against such conduct on the part of its neighbours only by retaliation: and if it neglect this retaliatory policy, that it will be punished for its liberality by a progressive decrease of prices, of wages, and of profits, and an increase of taxation."

The identity of Colonel Torrens's propositions with the exploded "Mercantile Theory" is very satisfactorily established by the Edinburgh reviewer; and it is certainly humbling to see a man of his ability coming forward to revive doctrines which had well nigh gone down to oblivion. On the subject where Colonel Torrens conceives himself strongest, the distribution of the precious metals, the reviewer has given a very able reply, though some points are left for future amplification and discussion; and, as a whole, if there be any young political economist whose head the Budget has puzzled, the article in the Edinburgh Review will be found a very sufficient antidote. With this, and another able article on the same subject in the last Westminster Review (in fact, two articles of the Westminster relate to the subject—one is on Colonel Torrens, the other on Free Trade and Colonization), we may very safely leave the Budget to the oblivion into which it has sunk; and, meantime, the novice will not go far astray who adheres to the "golden rule" of political economy, propounded by the London merchants in 1820, and re-echoed by Sir Robert Peel in 1842: "The maxim of buying in the cheapest market, and selling in the dearest, which regulates every merchant in his individual dealings, is strictly applicable as the best rule for every nation. As a matter of mere diplomacy, it may sometimes answer to hold out the removal of particular prohibitions or high duties as depending on corresponding concessions; but it does not follow that we should maintain our restrictions where the desired concessions cannot be obtained; for our restrictions would not be the less prejudicial to our capital and industry, because other governments persisted in preserving impolitic regulations."



MISCELLANEA.

CAPTAIN JAMES CLARKE ROSS AND THE ANTARCTIC EXPEDITION.

All the newspapers have quoted an account from the Literary Gazette of the Antarctic Expedition, under the command of Captain James Ross. It was composed of two vessels, the Erebus, Captain Ross, and the Terror, Captain Crozier, and left England on the 29th of September, 1839. During the outward voyage to Australia, scientific observation was daily and sedulously attended to; experiments were made on the temperature and specific gravity of the sea; geological and geographical investigations were made at all available points, especially at Kerguelen's Land; and both here, as well as during the expedition, magnetic observation and experiment formed a specific subject of attention. This was a main object during 1840, the expedition remaining at the Auckland Islands for this purpose; and it was not till the 1st of January, 1841, that it entered the antarctic circle. Their subsequent adventures, deeply interesting as they are from the perils which they encountered, and the spirit and perseverance with which they were met, come hardly within our sphere to report. After an absence of four years, the expedition, as mentioned in last week's ECONOMIST, has returned to England, and the acquisitions to natural history, geology, geography, but above all towards the elucidation of the grand mystery of terrestrial magnetism, raise this voyage to a pre-eminent rank among the greatest achievements of British courage, intelligence, and enterprise.

RELIGIOUS WORSHIP.—CHURCH PROPERTY.—The following Parliamentary Return has just been printed, entitled, "A Return of the amount applied by Parliament during each year since 1800, in aid of the religious worship of the Church of England, of the Church of Scotland, of the Church of Rome, and of the Protestant Dissenters in England, Scotland, and Ireland, respectively, whether by way of augmentation of the income of the ministers of each religious persuasion, or for the erection and endowment of churches and chapels, or for any other purposes connected with the religious instruction of each such section of the population of the United Kingdom, with a summary of the whole amount applied during the above period in aid of the religions worship of each of the above classes." The abstract of sums paid to the Established Church shows that the total was 5,207,546l. which is divided in the following manner:—Church of England, 2,935,646l.; Church of Scotland, 522,082l.; Church of Ireland, 1,749,818l. Church of Rome.—The total sum paid to the Church of Rome is set forth at 365,607l. 1s. 2d. comprised in the following two items;—Augmentation of incomes (including Maynooth College), 362,893l. 8s. 1d.; erection and repairs of chapels, 2,113l. 13s. 1d. Protestant Dissenters.—The total sum is 1,019,647l. 13s. 11d. in England and Ireland. The recapitulation shows the following three sums:—Established Church, 5,207,546l.; Church of Rome, 365,607l.; and Protestant Dissenters, 1,019,647l. The sums were advanced from 1800 to 1842.

IMPERISHABLE BREAD.—On Wednesday, in the mayor's private room, at the Town hall, Liverpool, a box of bread was opened which was packed at Rio Janeiro nearly two years ago, and proved as sound, sweet, and in all respects as good, as on the day when it was enclosed. This bread is manufactured of a mixture in certain proportions of rice, meal, and wheat flour.

ST GEORGE'S CHAPEL, WINDSOR.—The extensive alterations and embellishments which have been in progress since the early part of May last (from which period the chapel has been closed), at an outlay of several thousands of pounds, throughout the interior of this sacred edifice, having been brought to a close, it was reopened for Divine service on Thursday.

FATHER MATHEW.—Father Mathew, after finishing his labours in the metropolis, went to Norwich, where he met the Bishop, who, in an earnest and eloquent speech, in St Andrew's hall, on Thursday week, introduced the reverend gentleman to that locality, and very warmly eulogized his conduct. Mr Gurney, the well-known Norwich banker, occupied the chair on this occasion, and seconded the Bishop in his patronage and approbation of the great temperance movement. After remaining at Norwich two or three days, Father Mathew started for Ireland, taking Birmingham and Liverpool in his way.

IMPORTATION OF FRUIT FROM ANTWERP.—On Thursday, the steam-packet Antwerpen, Captain Jackson, arrived at the St Katherine's Steam Packet Wharf, after an expeditious passage, from Antwerp. The continental orchards continue to supply our fruit markets with large supplies, the Antwerpen having brought 4,000 packages, or nearly 2,800 bushels of pears, apples, plums, and filberts. Advices were received by the Antwerpen that another extensive importation of fruit from Antwerp may be expected at the St Katherine's Steam Packet Wharf this day (Saturday), by the steam-packet Princess Victoria, Capt. Pierce.

LIEUT. HOLMAN, THE BLIND TRAVELLER.—This celebrated tourist and writer took his departure from Malta, on the 3rd of September, for Naples. He will afterwards proceed to the Roman States, and then to Trieste. During the few days of his residence in this island the greatest hospitality has been shown him. The veteran traveller had the honour of dining with his excellency the Governor, and with Admiral Sir E. Owen. Amidst all the vicissitudes of his perilous life and increasing age, he still maintains the same unabated thirst for travel, and his mental and bodily faculties appear to grow in activity and strength in the inverse ratio of his declining life and honoured grey hairs.

RAILWAY FROM WORCESTER TO CARDIFF.—It is proposed, by means of this new line, to connect the population of the north of England and the midland counties with the districts of South Wales and the south of Ireland. It will commence at the Taff Vale Railway, pass through Wales, cross the Severn, and unite with the Birmingham and Gloucester Railway at Worcester. The cost will be 1,500,000l.

FRENCH OPINIONS ON SPANISH EVENTS.—The French journals are loud in condemning the poor Barcelonese for the very same acts which drew down the applause of these same journals a week ago. The following remarks from the National render any of our own useless:—"It must be admitted that the French journals appreciate in a strange way the deplorable events in Spain. Some soldiers revolt at Madrid, without going any length of insurrection, or at all endangering the Government. General Narvaez comes, and without consulting Government or any one else, shoots eight non-commissioned officers. Straight our Ministerial journals exclaim, What an act of vigour! Vigour if you will; but where is the humanity, the wisdom, the justice? Then behold Barcelona, of which the people some weeks ago rose against the established and constitutional Government. What heroes! exclaimed the French Ministerial papers. Now they do the same thing, rising against a provisional and extra-constitutional Government. What brigands! exclaim the Ministerial writers. A few weeks back a Spanish Government defended itself with violence against those who attacked it. Regiments fired rounds of musketry, and the cannons of forts bombarded the rebellious towns. The French Ministerialists forthwith pronounced the Spanish Regent as a malefactor, and devoted him to the execration of the civilized world. Now, another Government, without the same right, follows precisely the same course as the one overthrown. It defends itself, fires, bombards, and pours forth grape from behind walls upon insurgent bands in the street. This same conduct is glorified as firm, as legitimate, as what not. The system of political morality changes, it seems, with men and with seasons. What was infamy in Espartero and Zurbano, is heroism and glory in Narvaez and Prim. What is more infamous than all this is the press, that thus displays itself in the light of a moral weathercock, shifting round to every wind."

STATISTICS OF THE METROPOLITAN POLICE.—By a return just issued in compliance with an order of the House of Commons relative to the City and Metropolitan Police Force, it appears that there are 20 superintendents in the metropolitan division, receiving from 200l. to 600l. per annum; 110 inspectors, whose salaries vary from 80l. to 200l. per annum; 465 sergeants, with incomes ranging from 60l. to 80l. per annum; and 3,790 constables, receiving from 44l. to 81l. per annum, including clothing and 40 pounds of coal weekly throughout the year. The amount paid on this account during the past year, including 3,620l. for superannuation and retiring allowances to officers and constables late of Bow-street horse patrol, and Thames police, amounted to 295,754l. In this is likewise included a sum of 9,721l. received from theatres, fairs, and races. The number of district surgeons is 60, and the amount paid for books, &c., is 757l. The total rate received during the past year from the various wards in the City of London and its liberties, for the maintenance of the City Police Force, is put down at 41,714l., and the expenditure at 41,315l., the gross pay, irrespective of other charges to the force, amounting to 29,800l.

LOSS OF THE UNITED STATES STEAM FRIGATE "MISSOURI," AT GIBRALTAR, BY FIRE.—The superb American steam frigate Missouri, which was conveying the Hon. Caleb Cushing, American minister at China, to Alexandra, whilst at anchor in Gibraltar bay, on the 26th ult., was entirely consumed by fire. The fire broke out in the night, and raged with such determined fury as to baffle all the efforts of the crew, as well as that of the assistance sent from her Majesty's ship Malabar, and from the garrison. The magazines were flooded soon after the commencement of the fire; and, although a great many shells burst, yet, very fortunately, no accident happened to any of the crew. This splendid steamer was 2,600 tons and 600 horse power, and is said to have cost 600,000 dollars.

THE ALLEGED ARREST OF THE MURDERER OF MR DADD.—The following are the remarks of Galignani's Messenger on the report in the English papers that Dadd was arrested at Fontainbleau:—"The above statement has been partially rumoured in town for the last two days, but not in a shape to warrant our publishing it in the Messenger. The police have been everywhere active in their researches for the fugitive; and we perceive, by the Courrier de Lyons, that, on Thursday night, all the hotels in that city were visited by their agents, in pursuit of two Englishmen, one of them supposed to be the unfortunate lunatic. These individuals had, however, quitted the town on their way to Geneva, previously to the visit of the police."

THE CARTOONS.—We understand that several of the prize cartoons, and a selection of some of the most interesting of the works of the unsuccessful competitors, have been removed from Westminster hall to the gallery of the Pantechnicon, Belgrave square, for further exhibition.

MACKEREL.—The Halifax papers state that the coast of Nova Scotia is now visited by mackerel and herrings in larger quantities than ever were known at this season. In the straits of Canso the people are taking them with seines, a circumstance without a parralel for the last 30 years.

The Journal des Chemins de Fer says:—"An inventor announces that he has found a composition which will reduce to a mere trifle the price of rails for railroads. He replaces the iron by a combination of Kaolin clay (that used for making pottery and china) with a certain metallic substance, which gives a body so hard as to wear out iron, without being injured by it in turn."



COMMERCE AND COMMERCIAL MARKETS.

DOMESTIC.

FRIDAY NIGHT.—We are still without the arrival of the Indian Mail, nor has any explanation of its detention transpired, except that which we mentioned last week. No serious apprehension exists for its safety, as similar detentions, of even much greater duration, have been experienced in the arrival of the September Mail in former years, as a consequence of the monsoon.

In Manchester, during the week, the market has been somewhat flatter in goods suited for the Eastern markets, in consequence of merchants being anxious to receive their advices by the Indian Mail before extending their transactions materially at present prices. In the Yorkshire woollen markets a fair trade continues to be done; and in Bradford a very active demand has arisen for the goods peculiar to that neighbourhood. In the Scotch seats of manufactures, both woollen and cotton, the trade has considerably improved, especially in the demand for tartans of all kinds, in which there is a very active and brisk trade. In the iron districts, the trade continues without change since our last: most of the works are full of orders, at low prices. In the coal districts, in Northumberland and Durham, trade is without any improvement whatever, and this trade, as well as their shipping, is in the most depressed condition.

INDIGO.—The transactions in this article have not been on a more extensive scale in our market than last week, but a good demand continues for the home trade, and occasionally a small advance upon the last July rates is paid on such sorts suitable for that branch, but there is almost no demand for export, the consumption of the article in foreign countries being this year unusually slack. The shipments to Russia, since the opening of the season, amount to only 2,209 chests, against 3,439 chests during the same time last year. A public sale was held yesterday, in Liverpool, of about 400 chests of East India, and 120 serons of Caracas. Of the former about 100 chests were withdrawn by the poprietors, but the remainder, together with the serons, sold briskly for the home trade, at prices about 3d. to 4d. per lb. higher than the previous nominal value, and rather above that of the London market. There are now 6,070 chests declared for the quarterly sale on the 10th of October; a great portion of it consists of good shipping sorts. It is supposed that several thousand chests more will be declared upon arrival of the Indian Mail, now due.

COCHINEAL.—Only two small public sales were held this week, together of 97 serons. The first consisted of 30 serons Mexican, mostly silver, which sold at prices from 2d. to 3d. per lb. higher than those of last week. The lowest price for ordinary foxy silver was 4s. 4d. per lb. The second sale was held at higher prices still, in consequence of which the whole quantity was bought in.

COTTON.—The purchases at Liverpool, for this week, will again reach the large quantity of about 40,000 bales, of which a considerable proportion is on speculation. Prices have been extremely firm, without any decided advance, however, there not being much importance attached, or faith given, to the statements that the American crop has suffered, which have been received by the Halifax and New York steamers, up to 1st inst. from the latter place.

In this market, business by private contract is again trifling. At public sales there have been offered 714 bales American, and 3,796 bales Surat; the former were held considerably above the value, and only 30 bales good fair were sold at 4-3/4d. in bond. Of the Surat about 2,300 bales found buyers, from 2-7/8d. to 3-1/8d. for middling, to 3-3/8d. to 3-1/2d. for fair; a few lots superior went at 3-5/8d. for good fair, and 4d. per lb. for good. The prices paid show an advance of 1/8d. to 1/4d. a lb. upon the last public sales of 24th August, and sustain the previous market rates, though the highest advance was conceded reluctantly, and not in many instances; there are buyers for low-priced cotton of every description, but there is little of it offering.

SUGAR.—The purchases for home consumption have been upon a limited scale, and prices barely maintained. The same remark applies to foreign sugar. Only one cargo of Porto Rico sugar has been sold afloat, for a near port, at 18s., with conditions favourable to the buyer. At public sale 630 chests Bahia, and 120 chests, and 240 barrels Pernambuco, were almost entirely bought in at extreme rates: since when only about 170 chests of the brown Bahia have been placed at an average of 17s. 6d., and with 50 chests of the lowest white at 21s. to 21s. 6d.; by private contract 300 chests old yellow Havannah, of good quality, sold at 20s.

COFFEE.—The home demand remains good; good and fine Jamaica fetched previous rates; a parcel of Ceylon, of somewhat better quality than the common run, sold at 51s. to 52s., which is rather dearer: very good Singapore Java sold at 36s. to 40s. In foreign Coffee a cargo of St Domingo has been sold afloat for Flanders at 26s. 6d. Two others being held above that price without finding a buyer, they have been sent on unsold. On the spot the transactions in coffee for export by private contract are quite insignificant, and of 650 bags old St Domingo via Cape, only a small proportion sold at 28s. to 30s. for pale bold good ordinary.

RICE.—About 4,000 bags of Bengal offered at public sale sold from 10s. to 11s. per cwt., establishing a decline of 3d. per cwt.

SALTPETRE.—The market is sparingly supplied, and importers do not sell except upon extreme rates, which have been paid for about 3,000 bags, viz. from 23s. 6d. for very ordinary, to 25s. 6d. for good middling.

CASSIA LIGNEA.—For small parcels offering in public sale full prices have been paid; fine by private contract as high as 70s.

PIMENTO.—Fair quality has been sold 2-1/2d. to 2-5/8d., which is rather dearer.

TALLOW.—The demand on the spot is not improved and the price unaltered, 41s. 9d. to 42s.; for forward delivery there is rather more disposition to purchase.

RUM.—The demand is very limited, except for the finest qualities of Jamaica, and common are rather cheaper.

FOREIGN.

The accounts received from the United States up to the first of this month by the Hibernia and Great Western are favourable as regards commerce. The manufactories in the Union are reported to be in a state of considerable prosperity, notwithstanding which the demand for imports was increasing. The reports about the cotton crops were various; it was admitted that the weather had latterly been favourable. Large arrivals of wheat and flour were expected in the ports from the West.

The commercial reports received this week from the continent of Europe do not show any great activity in foreign markets, though the prices of Colonial produce are well maintained. Sugar was somewhat more in demand both at Antwerp and Hamburg. In Coffee there was rather less doing at both places.

* * * * *

PRICES CURRENT, SEPT. 16, 1843.

+ - ENGLISH FUNDS. PRICES THIS DAY. + - India Stock 266 3 per Cent. Red Shut 3 per Cent. Consols Money 94-3/4 3-1/2 per Cent. Annuity, 1818 3-1/2 per Cent. Red. Shut New 3-1/2 per Cent. Annuity 102 Long Annuities Shut Annuities, terminable July, 1859 India Bonds 3 per Cent. 69s pm Exchequer Bills 1-3/4d. 69s pm 3 per Cent. Consols for Account 91-1/8 Bank Stock for Account Shut + -

+ - FOREIGN FUNDS. PRICES THIS DAY. + - Belgium Bonds 105 Brazilian Bonds 74-1/2 Chilian Bonds, 6 per Cent. Columbian Bonds, 6 per Cent. 1824 25-3/8 Dutch, 5 per Cent. Ditto, 2-1/2 per Cent. Exchange 12 Guil. 52-1/8 Mexican Bonds, 1837, 5 per Cent. 34 Peruvian Bonds, 6 per Cent. Portuguese 5 per Cent. Converted 44-1/4 Ditto 3 per Cent. Ditto Russian Bonds, 1822, 5 per Cent. 114-1/2 Spanish Bonds, 5 per Cent. 1821 18-1/8 1822 Ditto, Deferred 11 Ditto, Passive 4-1/8 + -

CORN MARKETS.

(From Messrs Gillies and Horne's Circular.)

CORN EXCHANGE, MONDAY, SEPT. 11.—The weather continued most beautiful here until yesterday, when we had some heavy thunder showers, and to-day is gloomy, damp and close. The wind, what little there is of it, is north. The arrivals during last week were moderate except of Foreign Wheat and Barley, of which of course there is yet some quantity to arrive. The new English Wheat coming soft in hand, is slow sale at 1s. to 2s. reduction—free Foreign finds buyers for mixing at last week's currency. Barley is dull sale at last week's rates. Oats are 6d. to 1s. lower. Some new Irish have appeared of fine quality. There is no change in Beans and Peas. Flour is the same as last week.

- BRITISH. PER QR. Wheat, Essex, Kent, Suffolk, white 59s to 61s Lothian, Fife, Angus, do. 52s to 57s Inverness, Murray, &c. 52s to 57s Essex, Kent, Suffolk, red 54s to 57s Cambridge, Lincoln, red 54s to 57s Barley, English Malting, and Chevalier Distiller's, English & Scotch Coarse, for grinding, &c. 28s to 30s Oats, Northumberland & Berwick 21s to 23s Lothian, Fife, Angus 21s to 23s Murray, Ross 21s to 23s Aberdeen and Banff 21s to 23s Caithness 21s to 23s Cambridge, Lincoln, &c. 20s to 23s Irish 17s to 19s English, black 18s to 21s Irish " 17s to 21s Potato, Scotch 23s to 26s " Irish 19s to 22s Poland, Lincoln, &c. 21s to 24s Beans, Ticks 30s to 31s Harrow 31s to 34s Small 32s to 34s Peas, White 36s to 38s Boilers Flour, Town made Households 50s to 53s Norfolk and Suffolk 40s to 42s -

- FOREIGN AND COLONIAL. PER QR. Wheat, White, Spanish, Tuscan 52s to 59s High mixed Danzig 58s to 61s Mixed do. 52s to 58s Rostock, new 57s to 60s Red Hamburg 52s to 55s Polish Odessa 48s to 52s Hard Egyptian 32s to 37s Barley, Malting, &c. Distiller's, &c. 28s Grinding, &c. 28s to 29s Oats, Brew, &c. 21s to Polands, &c. 22s to Feed, &c. 18s to Do, dried, Riga, &c. 21s Rye, Dried Undried Beans, Horse 30s to 34s Mediterranean 26s to 29s Peas, White 34s to Yellow 35s Flour, French, per 280 lbs. nett weight American, per Bar. 196 lbs. nett weight Danzig, &c. do. do. Canada, do. do. 29s to 29s Sour, do. do. -

CORN EXCHANGE, FRIDAY, SEPT. 15.—The weather threatened to be stormy yesterday, the barometer fell, and we had some heavy drops of rain, but it has since cleared up, and to-day is 10 degrees warmer and beautifully clear, with the wind south east. In Ireland and Scotland there was a good deal of rain on Sunday and Monday, which (we understand) stopped the harvest work for the time, but we hope by this time they have it fine again. The new English Wheat comes to hand softer and lighter than at first; as usual after being stacked, the yield is much complained of, besides that many of the stacks got so soaked by the heavy rains of the 21st and 23rd of August, that the condition of the Wheat is sadly spoiled. The arrivals are moderate this week, except of Irish Oats, several small parcels of which are of the new crop; there is also a small parcel of new Scotch Barley in fine condition, and new Scotch Oats, also good. Almost all the Wheat has been entered at the 14s. duty; we believe it is over 300,000 qrs. New English Wheat is dull sale: Foreign, on the other hand, is more inquired for, and not to be purchased in any quantity except at 1s. advance. Barley is saleable in retail at Monday's prices. Oats are again 6d. cheaper than on Monday, except for very fine samples. The averages lead us to suppose that on the 21st instant the duty on Foreign Wheat will rise to 16s. per qr.; on Barley it will remain 6s.; on Oats 6s.; on Rye it will rise to 9s. 6d.; on Beans it will remain 10s. 6d.; and on Peas, 9s. 6d.