The Economist Part 7

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, pa.s.s through Wales, cross the Severn, and unite with the Birmingham and Gloucester Railway at Worcester. The cost will be 1,500,000_l._

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 const.i.tutional Government. What heroes! exclaimed the French Ministerial papers. Now they do the same thing, rising against a provisional and extra-const.i.tutional 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 p.r.o.nounced 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 weatherc.o.c.k, 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 200_l._ to 600_l._ per annum; 110 inspectors, whose salaries vary from 80_l._ to 200_l._ per annum; 465 sergeants, with incomes ranging from 60_l._ to 80_l._ per annum; and 3,790 constables, receiving from 44_l._ to 81_l._ per annum, including clothing and 40 pounds of coal weekly throughout the year. The amount paid on this account during the past year, including 3,620_l._ for superannuation and retiring allowances to officers and constables late of Bow-street horse patrol, and Thames police, amounted to 295,754_l._ In this is likewise included a sum of 9,721_l._ received from theatres, fairs, and races. The number of district surgeons is 60, and the amount paid for books, &c., is 757_l._ 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 41,714_l._, and the expenditure at 41,315_l._, the gross pay, irrespective of other charges to the force, amounting to 29,800_l._

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 a.s.sistance 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 sh.e.l.ls 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 compet.i.tors, 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 quant.i.ties than ever were known at this season. In the straits of Canso the people are taking them with seines, a circ.u.mstance 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 quant.i.ty was bought in.

_COTTON._--The purchases at Liverpool, for this week, will again reach the large quant.i.ty 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.

_Ca.s.sIA 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, Pa.s.sive | 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 quant.i.ty 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, Ess.e.x, Kent, Suffolk, white | 59s to 61s ---- Lothian, Fife, Angus, do. | 52s to 57s ---- Inverness, Murray, &c. | 52s to 57s ---- Ess.e.x, Kent, Suffolk, red | 54s to 57s ---- Cambridge, Lincoln, red | 54s to 57s Barley, English Malting, and Chevalier | -- -- ---- Distiller's, English & Scotch | -- -- ---- Coa.r.s.e, 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 quant.i.ty 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.

LONDON AVERAGES.

For the week ending September 12.

--------------------------------------------------------------------- Wheat. Barley. Oats. Rye. Beans. Peas.

-----------+----------+-------------+----------+----------+---------- 4.113 qrs. | 345 qrs. | 25,600 qrs. | 50 qrs. | 147 qrs. | 132 qrs.

51s. 6d. | 32s. 2d. | 18s. 9d. | 30s. 2d. | 30s. 2d. | 42s. 1d.