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 100,000_l._ 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.