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WILLIAM E. JONES. AUGUSTA, Ga. TUESDAY MORNING, FEBRUARY 19 1839.
TUB CIIUOMCXK AND SEN TIN El. 1
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DAILY, TRI-WEEKLY, AND WEEKLY,
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CHRONICLE AND SENTINEL.
auTTus t a .
MONDAY MORNING. FEBRUARY 18.
Sixteen days later from Europe.
Wo arc indebted to the politeness of the editors
of the Constitutionalist, for a slip front the oilier
of the New York Gazette, dated Feb. I2lh, 4
o’clock, P. M., bringing the intelligence of the
arrival of the packet ship Cambridge, Capt.
Parsley, from Liverpool, whence she sailed on the
10th of January. Wo arc also indebted to seve
ral of our commercial friends, for Liverpool cir
culars.
One of the moat awful storms occurred at Liv
erpool on Sunday and Monday, the 6th and 7th
January, of which we have any account on re
cord. The damages done by it, both on sea and
1 nd were immense. Three of the New York
packet ships, the Pennsylvania, the Oxford and
the St. Andrew, were lost, together with a num
ber of lives. The Oxford was at anchor in the
port of Liverpool; the Pennsylvania and the St.
Andrew had left the port and were in the Irish
channel. In the latter vessel alone, from 80 to
100 lives were lost. The Captain and first and
second Mates, and a portion of the crew of the
Pennsylvania wore lost. The British ship Lock
woods, bound for New York, together with 30 or
40 persons, crew and passengers, were lost. In
addition to thccc a number of other vessels be.
longing to other parts of the world were lost, be
sides several steam boats.
The Liverpool Courier of January 9th, in dc
ecribing the fury of the storm, says,
‘ - In a'l quarto s, chimney-p its, slates, and lead,
were swept away like chalf, Hying about over the
streets of the town and the adjacent villages, as if
circling no more resistance to the wind than so
many pieces of pasteboard. The a arrn was as uni
versal as the destruction. Thousands of families
arose from their beds, unable to rest, from the terror
inspired by the roaring of the tempest, and the rat
tling of bricks and fragments of their dwellings.—
Numbers left their hemes, and sought safety in
what they conceived were the more secure and
better sheltered habitat ons of their neighbors.—
The best built mansions in the town, fabrics of solid
ani substantial masonry, trembled and rocked be
fore the assaults of the wind, as if they hat been
shaken by an earthquake. Wbc i the morning
broke the tempest was still sweeping fom the west
ward with all the fury of a tornado. Fram one end
of the town to the other the pavement was strewed
with material, in many places t e avenues being
ob tructcd with masses of bricks,ruin , fallen walls,
and pieces of timber. In the suburbs and surround
ing country, trees, many of them of great magni
tude, were blown down, torn up by the roots, or
snapped asunder.
We have no political news—the Commercin'
will be found under its proper head.
Impoutaxt to Commerce. — By a decision
of the United States Court, lately held in Bos
ton, by Judge Story, the practice of signing bills
of lading “contents unknown,” implies that the
goods arc in had order; and in ease they should
be damaged by had usage or carelessness, the
captain or vessel is not liable for any damage
that may he sustained.
Correspondence of the Charleston Courier.
Washington, Feb. 11.
Mr. Ely Moore’s speech, introductory to the
remonstrance of citizens of this District, against
the reception of petitions from people of the States
for the abolition of slavery in the District, has
appeared hero; and it will, I understand, be ex
tensively published and distributed among the
people of the North West. It furnishes a lucid
and popular view of this humbug “right of peti
tion,” against the invasion of which other Nor
thern incendiaries have attempted to raise such
an out-cry. Mr. Moore clearly shews that a re
fusal by Congress to receive such petitions, is no
denial of any right, while, on the other hand, the
continued reception of them makes Congress a
party to the combinations of fanatics and incen
diaries against the public peace. I believe the
speech will have a good ellect at the North, by
disabusing the honest portion of the people of the
erroneous opinions inculcated among them of
this “right of petition.”
Mr. Slade took an opportunity, to-day, to fur
nish a little steam for the abolition cause, by in
troducing a resolution, calling for an inquiry into
the subject of lire spectacle, which he alleges to
have been exhibited hero, on the 30th ult., to the
members of both Houses, of some slaves, chained,
&c„ and conducted through the streets. The
resolution lies over one day. It is impossible to
prevent such assaults upon the House, by any
precautionary resolutions. Just as impossible is
it to protect Congress from abolition agitation, by
means of the Atherton or any other resolution.
A rejection of all petitions and papers touching
the subject of slavery is the only tiring that will
defeat the designs of the abolitionists.
In the House of Representatives, to-day, Mr.
Evans, from the Committee on Commerce, repor
ted a bill makfhg appropriations for lire survey of
certain rivers.
Also, a bill making appropriations for the con
struction of certain roads in the Territory of Flori
da.
Mr. Cushman, from the same Committee, re
ported a bill for establishing a port of entry at St.
Joseph’s, in the Territory of Florida, which trills
were severally read twice, and committed to a !
Committee of the Whole.
Mr. Chambers made an ineffectual motion for |
t a suspension of the rules, in order that reports
might be received from Committers.
Mr. Haynes, after adverting to the fact that
the President’s annual message was still in Com
mittee of the Whole, asked leave to submit, a mo
tion to discharge the Committee from the further
consideration of the same. Objection being made, j
Mr. Haynes moved a suspension of the rules, !
on that motion demanded the yeas and nays, i
which being ordered were—yens 87, nays 67, not .
two-thirds—so the rules were not suspended.
This being the day set apart for the considera- ;
tion of Territorial business, after the reception of ;
resolutions, Mr. Bronson and others hoped the j
House would suspend that portion ofthc rules re
lating to resolutions, and proceed at once to the
consideration of Territorial business.
Mr. Rico Garland, pursuant to notice, on leave,
introduced a bill providing for the taking of the
sixth census of the people of the I J. S., which bill
was read twice, and committed to a Committee
of the Whole.
Mr. Grant, on leave, introduced a bill, making
appropriations for :hc construction and improve
ment ot certain harbors, and for the removal of
obstructions at the months of certain rivers.
Mr. Russell submitted a resolution, for setting
apart Thursday next for the consideration of a bill
ntreduced last session, providing for the construc
tion ol a ship canal around the Falls of Niagara.
But the resolution, giving rise io debate, lies over
one day under the rules.
The Speaker laid before the House a number of
Executive communications, in answer to resolu
tions or inquiry. Among them was a message
from the President, transmitting correspondence
between this government and that of Great Bri
tain, in relation to tire burning of the steamboat
Caroline, last year.
The States were then called in their order for
resolutions. After which the House went into
Committee ot the Wlwrle, and after some time
•spent therein; in the consideration of bills relating
to the Territories, the Committee rose, and the
House adjourned.
Very little business was transacted in the Sen
ate to-day. Mr. Wall made a long and able speech
against Mr. Crittenden’s project for preventing
government officers from interfering in elections.
Mr. Benton called the attention of the Senate
to the card that appeared some time ago, denying
the assertion which Ire made in the Senate, on the
authority of Gov. Dickerson, of Ncw-Jcrsoy, that
Mr. Webster told Gov. D. that he (Mr. W.) was
“not consulted ” as to the compromise act. Mr.
B. said he had received a letter from Gov. D. re
affirming the fact. Mr. Webster explained that
lie never told Gov. I), that he was not consulted
on the subject. He was advised of the project;
hut lie told Gov. D. perhaps that he did not enter
into any consultation, with any of the friends of
that measure in regard to it.
Law of Insurance.
- An important decision has just been made by
the Supreme Court of the United States, the par
ticulars of which are thus stated in the Alexandria
Gazette:
Supreme Court or the United States.
Tuesday, February sth, 1839.—N0. 31.
I ire Columbia Insurance Company of Alexandria,
Plaintiffs in error vs, Ashby and Stribhling, and
Peter Hewitt, Defendants in error. Mr. Justice
Story delivered the opinion of the Court, aflirm
ing tire judgment of the Circuit Court for Alex
andria county with costs.
This case involved, we learn, one ofthc gravest
and most difficult questions on the law of insu
rance. '1 Ire authorities were in direct conflict,
and the question, thus unsettled, had never been
before a court of the last resort, either in England
or America. It has now arisen ; and the law is
conclusively pronounced and forever established
by the highest judicial tribunal known in our
country. The question was as to the liability of
the cargo to an average contribution forthe vessel.
The case had occurred several times of a vessel’s
being voluntarily stranded by the Captain when
ail was in imminent peri!—from a gale of wind—
from lire—or from the chase of an enemy or of
pirates, and it has been held and universally
admitted that if the stranding were done with
tire view of preserving crew, vessel and car
go—the cargo being saved, and the vessel hir
ing got off with partial injury, then that the
cargo should contribute towards paying tire dam
age or cost of repairs, encountered by the ship
owners. But some of the writers who held this
opinion contended for tills further principle, that
if the ship was totally tost or destroyed by such
voluntary stranding, then, even, if the cargo was
saved thereby, it was not liable for an average
contribution.
The courts of New York and Virginia had de
cided according to the opinion last stated. The
Courts of Pennsylvania had decided that in such a
ease the cargo, or the underwriters on the cargo
should contribute. The Circuit Court of this
country decided as the Courts in Pennsylvania,
and the Supreme Court of the U. S. having un
animously confirmed that judgment, have forever
settled this much disputed question. Tire Su
preme Court further held that it was not necessa
ry for this art of stranding to he done on consul
tation or deliberation by the captain with his offi
cers or crew; and likewise that in such a case the
cargo, or the underwriters on it, should contribute
as well for the loss o (freight as of the vessel. —
We have not time to give a view of the merits of
the case, hut only mean to state how the law lias
been established.
Liabiuiti of Steamdoat Owners.—Wo
learn from the St. Louis Republican, that Capt.
Carter, of the steamboat Diana, has been arrested
at New Orleans, and held to bail in the sum of
$50,000, ns one of the owners ofthc unfortunate
steamboat Gen. Brown, the blowing up of which
took place some weeks since. The arrest was
made under the late law of Congress, making the
owners of steamboats liable for negligence upon
boats, by which loss of life is sustained.
From the New Orleans Bee, of the 13 th.
Mexican on Hits.
The intelligence given in Monday’s paper eon- i
ccrning Mexico, is after all but the echo of the i
reports which circulated in Vera Cruz at the de
parture of the Bordelais packet. Os this we are
assured by tire testimony of several passengers, i
Some of them state that Santa Ana had not been ;
appointed president, hut only vice president, in i
place of Cravo, who wassuspcctod of leaning to- i
wards the support of the federal cause ; hut that
in consequence of the departure of Bustamcnte,
at (behead of the troops destined to march against
Urrea, Santa Ana was nominated president ad
interim.
Wo believe all these rumors to be inexact, for
Santa Ana could never have been vice president,
as under the present constitution, there is no such
office in the Mexican government. Hence neither
Bravo, nerany other individual can be invested
with a function that has no existence.
It is difficult at present, to determine with cer- ;
lainty, whether Santa Ana has really been pro- i
claimed president or not. The circumstance ap
pears extraordinary, but not impossible, nor even
very improbable.—Santa Ana is eminently popn- I
lar, and just the man to profit to tlie utmost by
that popularity. Besides, if our information he
correct, an election for president is by no means
absolutely necessary, as the governmental council
are constitutionally endowed with the prerogative
of deposing the chief magistrate, and even of ap- i
pointing a provisional successor. j i
The co-operation of the English fleet in main- i •
laming the blockade is spoken of as certain. It ! i
is added that the French admiral has given the j •
'"" ■
| English commander to understand that his pre
sence with so powerful a force, might occasion er
roneous impressions, and that he has succeeded in
inducing the latter to depart for Havana, with ten
ships ot the line and ten frigates.
General Mejia, it is rumored, had entered Ma
tainoras and driven Felisola from that town; which,
it true, would give a powerful impetus to the fede
ral cause.
J Its last report is, that the English minister,
Packcnham, was attacked at Jalapa, with stones.
I his is evidently untrue, as the Mexicans could
not have carried their hatred of foreigners to such
an extreme, towards the minister of a friendly na
tion, particularly when we know, that despite the
declamation ol the government, and the furious
tone of the press, the French who were expelled
the country by a special degree, were not maltrea
ted, prior to their departure. Besides Packcnhatn
is highly esteemed in Mexico where he has resi
ded tor many years. In fact, several arts of the
public life ot this functionary go to prove, that in
his feelings and opinions he savors more of the
Mexican than the Briton.
Alter all, these arc mere on dils which we ofl’er
as we have received them. Surmise will soon,
however, be converted into certainty, as several
vessels from different ports in Mexico, arc hourly
expected.
The three Meetings.
They met beside the running stream,
When life and hope were young;
When love was like an angel dream,
Unwritten and unsung.
The red-bird on the mountain ash,
Was singing to the wave;
Ttic music of Us busy plash,
A thrilling answer gave.
She stood beside the fountain’s brim,
A girl with wild flower’s crown’d;
And leaned with rapture upon him
Whose wreath her temples bound.
She was the May queen of the year,
The image sweet of spring;
With all the graces that endear,
A bright and girlish tiling.
A cloudless sky was overhead.
And flow "i s beneath their feet;
The blossom’d tree its odours shed,
And all the earth was sweet.
Young love was theirs —secure —serene,
And gave his roseate dye
To every feature of the scene.
And glory of the sky !
Sweet pair! dream not of danger nigh.
Enjoy the present hour,
As birds disport in summer sky
Ere yet the tempest lower.
Bream on—too soon shall fate reveal
Vour woes—too soon ye part;
Too soon the funeral knell shall peal
The tocsin of the heart.
Years passed—again the lovers met—
And time had left no trace
Os woe on features beauteous yet,
Nor yet bereft of grace.
The same enduring forest heard
'flicir vov.M cf truth renewed,
And warbled forth the same bright bird
To cheer the solitude.
I see the broken-hearted pair,
ihcar the wild adieu—
The hollow sighs that swell the air
When fortune parts the true.
No more—no more—of hope they speak,
No more they dream of bliss-,
’ The lover on the lady’s cheek
Imprints a mournful kiss !
Again they mot —long years had rolled
Their joy less tides along:
Life’s bounding pulses had controlled,
And bowed toe fair and strong:
The warrior’s hand was chill and weak,
That once the sword could sway,
And fluttered o’er his aged check
His tresses thin and grey.
And she was wan and faded too,
The shadow of that girl;
With sunny hair and eye of bine
And forehead wnite as pearl.
Whose beauty when he knew her first
The faithful fountain gave,
Blight as the charms of her who burst
Upon the Cyprian wave.
Then was their greeting sad, yet sweet —
The goal was nearly won—
And like to wintry streams that meet,
They trembled into one.
They spoke nut —neither sighed nor moved —
Their life long trial o’er.
Where first they met, where first they lov’d,
They met to part no more.
From the London Court Journal,
Tho Mercenary Lover.
Whoever has been in the habit of promenading
“High-street,” Cheltenham, in any portion of
the year comprised between April and October,
must necessarily have observed a certain walking
gentleman. We say, advisedly, walking gentle
man. No one ever saw him enter any carriage
of greater dignity than a “Fly.” No one ever
siw him on horseback. Yet be in a gentleman,
he frequents the best society the place affords, he
dresses well, he pays his debts of honor, —nay,
even his tradesmen’s bills. He is of a certain age
—that is, he confesses to thirty-six, and may be
ten years more. In order clearly to point him
out, without mentioning names, we must direct
the attention of the reader to a curious fact. His
walks in the High street never extend beyond
two hundred yards of the Plough Hotel. Now
this circumstance has long been the theme of dis
cussion among his acquaintance. To say the
least, it indicates a certain degree of eccentricity
in so young a man. It is a very curious thing,
that when a person exhibits any degree of eccen
tricity, he is invariably accounted wealthy. It
matters not in the least that he has all the exte
rior signs of narrow means; his coat may be
threadbare, his hat a gossamer, only lie must wear
an eye-glass suspended round his neck by a
broad black ribbon, and be the possessor of a fine
clouded cane, and an antique gold watch; yet, if
his actions be a little out of the usual course, hi*
will always he set down as a wealthy miser.
Thus it was with our walking gentleman, he
was universally considered a second (Jrtesus.—
Now it so happened, that among the visitors was
a certain widow lady, a very pretty woman, of
certainly not more than the apparent age of our
walking gentleman; the widow bad horses, car
riages, and servants; nothing was known of her
more than this. In the course of casual visits, the
walker and the widow became acquainted ! The
gentleman was not without sense, and he made a
decided impression on the heart of the lady. Our
walking gentleman was a thriving wooer, ho of
fared his hand and was accepted; all so far was
well. The matters in discus-ion between our he- '
ro and his widow were, the when, the where, the
how the union should take place. The gentle
man stated the amount of his property ; —it was
just four hundred pounds peryear, and no expec
tations. The widow expressed no surprise at the
smallness of the amount, and appeared perfectly
satisfied. The day was fixed, all preparations
were completed, when the widow expressed an
inclination to sec tbo house of her lover. The
walking gentleman informed her, that as soon as
the happy event had been determined on, he had
given it up. and sold his furniture.
“ AnJ where arc wc to live 1” said the widow.
“ Here, unless you have a dislike to the place.”
“Hero! ’ screamed the widow; “here!”
“Why not!’ said the bachelor.
“ R ■ sn ? m.V house;” said the widow.
“Not yours!—nor the horses!—nor tho car
riages!—nor the servants!”
“ No, nothing is mine.”
“ name of the , what are ye Madam?”
“When Sir E. T. arrived from India, I was to
have been governess to his daughters—this house
is nit.!”
The gentleman fainted.
1 he lady had commenced a suit at law against
the walking gentleman for breach of promise of
marriage.
"■■■"”•— ■ ■ -S»— ss bh—i
COMMERCIAL.
LivKnrooL, Dec. 31.
Sin: —The memorable events of last year were
of too remarkable a character not to leave some
traces behind them upon the mercantile affairs
of the following, and perhaps of several succeed
ing year. Although the storm which at one
time threatened the dissolution of the whole
American interest had happily abated before the
close of the year, it had produced mischief so ex
tensive, and had disclosed evils of such mag
nitude, that the necessity for a change in the sys
tem of commercial intercourse between tho two
countries seemed to he acknowledged by common
consent. Business, in passing from its accus
tomed channels, in anticipation of this transition,
became more circumscribed, and what with tho
want of confidence, or of means, a larger por
tion of the crop remained unshipped than had
been known for a number of yeais. Hence, it
was rather hastily concluded by some, that under
the influence of the same circumstances the sup
plies of the coining year would he more or less
retarded; hut it was scarcely probable that a
country so fertile of resources under difficulties
ns America, would sutler her credit and her com
merce to languish from causes of a purely finan
cial nature.
Arrangements wore accordingly made, through
facilities afforded by the Bank of the United States,
and of several minor Banks of the Union, for the
shipment of Cotton on an unprecedentedly ex
tensive scale. It was easy to forsee that the ef
fect of an operation conducted on such a princi
ple, backed by unlimited means and uncontroll
ed in a groat measure by those prudential motives
which impose a wholesome restraint upon pri
vate enterprise, would not only he to stimulate
the import in an extraordinary manner, hut to
place the fate of the Cotton market, whether for
good or evil, in the hands of one interest, if not
of a single individual. The consequences likely
to result from this combination of circumstances
were variously estimated, though the balance of
opinion certainly inclined to the unfavorable side,
as regarded the prospect for Cotton. Nor were
these npprclir'eSicns nflsyed by the declared inten
tions of the Bank Party not to press their Cot
ton unseasonably upon the market. 'The gene
ral importers were free sellers from first to last,
and light as were the stocks and imports in Jan
uary and February,all descriptions of American
fell about jj<\ per Hi.; and although tho supplies in
the following month still continued moderate, a
further reduction took place of to jd per lb.
Early in April, prices had reached their lowest
point, having then declined fully 1 id per lb. since
the 31 st December; and it is a fact deserving of
particular notice, that during a season of the
heaviest import which has been known for many
years, and with a stock generally approaching,
and for several weeks exceeding, half a million
of bags, they did not fluctuate more than „d per
lb. for six or seven monies. Neither were prices
at any moment during this period unduly de
pressed, fair Orleans having never fallen below
®id per lb. Uplands fi jd per lb. and Alabamas
6d pdr lb. other qualities ruling in proportion.
This long continued steadiness may, no doubt,
in part be ascribed to the total freedom from any
thing like pressure in money matters which pre
vailed throughout the year; hut the market, ne
vertheless, would have sunk under the weight of
stock and import, had it not been for the holding
policy of the Bank party Os flic enormous
quantity received by this interest, amounting to
upwards of 250,000 bags, or more titan a fifth of
the entire import from the States, 170,000 bags
remained on hand at tho end of September. By
the middle of October, tho market being pretty
well cleared of the general import Cotton, a scar
city in the midst of abundance began to lie felt,
and such of the trade as were lightly stocked be
came sensible of the critical position in which
they might he placed before the end of the year.
Under this impression, some heavy purchases
were made: hut ;hc consumers as a body not par
ticipating in the alarm, the demand continued only
tor a few weeks; the same, apathy prevailed on
the part cf the trade till the last week of the year,
when more symptoms of uneasiness were mani
fested, under the prospect of a light import, with
a stock so peculiarly circumstanced.
Speculators, however, took a more decided view.
In the eleven weeks between the 13th October and
2Stli December, of the total business, amounting
to 180,500 bags, no loss titan 201,000 bags were
on speculation, with a gradual and steady advance
of jd to ; |d per lb. each week, (with one slight 1
pause in November,) or Hd to Ijd per Hi. the 1
closing prices being as nearly as possible the same
as the year before. It is a singular feature in the i
history of these speculations, that they originated i
with,and for some time were confined to, a par
ticular interest; and this fact, in the absence of
any very intelligible grounds for the movement, i
created a suspicion in the minds of some, (and
which may explain in part the indifference of the I
trade,) that they were the result of management 1
or contrivance. If the respectability of the par- i
ties concerned wore not sufficient to negative such 1
a supposition, recent advices from the Slates have I
supplied a motive arising out of the declared in- '•
tentions of the Bank, which had probably been i
already initiated, and had been suffered to Iran- 1
spire, for reasons perfectly consistent with policy I
and good faith. The advices of a partial f ilure i
of the crop came most opportunely in aid of these I
operations, and the infusion of a new set of buy- 1
ers gave a fresh impetus to the market. It may,
however, hr remarked of these transactions, that, i
whether from tho discredit which was cast upon i
them in tin- outset, or from a disbelief of the ren- '
sons assigned, they ceitainly failed in engaging i
the sympathies of the trade, or of that large class t
of purchasers generally so sensitive of any change. •
Tho preceding observations have references cn- i
tirrly to American Cotton. In other descriptions <
there is nothing deserving of particular notice. 1
The import of Brazil has been liberal, whilst that '•
of Egyptian has fallen short of last year, owing
rather to the caprice and anti-commercial notions I
of the Pacha, than to a deficiency in tho growth.
Os Surats, also, the supply is somewhat less; and i
the prospect of troubles in the East has made 1
them an object of speculation, especially during
the last few weeks.
For the particulars of the Stocks and Imports
into this and other Ports, reference is requested to
the annexed 1 allies, for which the annual com
; phment may he claimed for their accuracy, as
shewn by their generally exact correspondence
with the periodical statements which emanate
j.f’ni? aI? n Associtt, *p n ' The enormous increase
0186 7,000 bags ln the import from the United
will no doubt attract attention. What pm
tion of tins may be due to the unshipped balance
ot theerop of 183(1, and what to the increase of
that of 1837, it is not easy to determine, perhaps
it may lie equally divided between the two; but it
is quite certain that thisyear, at least, the country
has boon completely swept of the whole ofits dis
posable produce. The deliveries to the trade ap
pear to have been 1,258,457 bags, making the
consumption, allowing the trade In hold (10,000
hags more than last year, 23,041 bags, being an
increase of 13 per cent.
In hazarding an opinion as to the future, an
important consideration is suggested by the expe
rience of (bis year which has furnished a striking
proof, that the stale of prices is much more de
pendant on the distribution of the stock than on
its actual amount. This truth is illustrated la
the positionofaflfairs at the present moment; anil
from the movements of certain parties in the Uni
ted States known to he in close connexion with
the Bank, the same influence will probably be ex
tended over the operations of another year; though
whether in the same degree, or only byway of
demonstration to cover a retreat in ’this market,
seems still to he a matter of doubt. In either
case the effect, or at least the policy will he, to
keep back the supplies, and ns a consequence, to
leave the buyers for the next two months perhaps
at the mercy of the speculators and of one Inter
est. The trade, though as a body fairly stocked,
cannot afibrd wholly to turn a deaf carlo the con
fident predictions of a short crop; and the fears of
some, and the necessities of others, acting upon a
feverish market, may, for the moment, force up
prices to u point which neither reason nor calcu
lation can justify. It is obvious, however, that
tho excitement, (which has already begun to
abate,) being the result of temporary causes, will
he of no long duration; and the matter for inquiry
is, how far it is warranted by considerations of a
more permanent nature, apart from those adventi
tious circumstances which gave it birth.
On the subject of the crop, a great diversity of
opinion exists, which involves this part of the
question in more uncertainty than usual. It is
variously estimated from 1,500,000 hags to 1,700,-
000 bags, the truth probably lying between those
extremes. Assuming, then, 1,000,000 hags as
the amount of the crop, Great Britain may fairly
, claim 900,000 bags, leaving 700,000 bags for
, France and for the home-consumption of America.
1 o this about 30,000 bags should be added, being
that portion of the succeeding crop which until
this year has almost always been received in the
i last two months of the year. The import from
’ other quarters into the kingdom cannot safely be
taken at less than that of the present year, viz
305,000 bags. The stock in Liverpool ibis day
is 248,340 bags, in London 4(3,450 bags, and in
ulasgow 26,300 bags; and the trade arc supposed
to hold 60,000 bags more—always a moot-point—
than at the same period last year. The aggregate
quantity, therefore, from these different sources,
for the service of the ensuing year, is 1,616,090
1) iiis. The demand upon tins slock will be, for
consumption, 1,248,000 bags, (or 24,000 bags per
week, being an increase ol only 4 per cent, upon
that ol the present year,) and for re-exportation
to ports of the continent other than France, the
same as this year, 103,000 bags together 1,500,-
000 bags, leaving, according to these data, a slock
in the Forts at (lie close of the year of 266,080
bags, supposing the trade to have reduced in the
course of the year their stock to the same amount
as at this time last year.
These estimates are based upon what may he
considered the average belief of those who are con
versant with the subject. It would fur exceed the
limits of a publication like this to enter into mi
nute details , and were it otherwise, there is some
thing delusive in the attempt to prophesy by an
appeal to elaborate statements of fusts and figures,
the precise course of a branch of commerce which
above all others, is beset with the elements of
uncertainty. Viewed without reference to dis
turbing causes, the supplies, if not very ample,
are likely to be adequate to the wants of the
trade, and sufficient to remove all apprehensions
of a positive scarcity. It must be admitted, on
the other hand, that the estimated surplus, con
sidering the scale of the Cotton business, is rather
below than above what it ought to he; and in
the event of an extensively organized speculation,
such as that just witnessed, being set on foot to
wards the close of the year, it would oppose but a
feeble resistance to an advance of prices. But
the year will probably throughout bo one of
much excitement; for the prospects for trade are
encouraging) and with a largo and increasing
consumption, noting upon a stock comparatively
small, an artificial scarcity, by whatever means
brought about, would produce all the cllecls of
a real one.
The consumption, it will be observed has ex
ceeded that of last year by 13 preent.; but many
causes have contributed to this result which arc
not likely to occur again next year, nr if they do,
in a less degree; ns for instance, the lowpriceof
the raw material; the replenishing of the stocks
in tlie home and other markets, which had been
exhausted during the commercial embarrassment
of the previous year; the uninterrupted harmony
which lias subsisted between the operatives and
their masters; and above all, the fact that the de
mand for heavy Goods and for low numbers of
Yams lias been disproportionably large. (Still,
however, no reasonable doubt can exist hut that
some, and perhaps a considerable increase will
take place in the consumption, unless checked by
high prices. But the points upon which the
question mainly hangs are, the amount of the
import, and the policy intended to lie pursued by
the American Bank Party, and the two appear to
be inseparably connected. The facilities which
arc ollered to the planters and others, must have
a tendency to encourage shipments ; and further,
the comparatively high prices at which this mar
ket will open is a strong inducement of itself to
the independent shipper; and tints a larger
portion of theerop may possibly find its way to
Ibis country than had been calculated upon.—
Whether there be an excess of import from (bis or
any other cause, will not be ascertained until an
advanced period of the year, when also the secret
of the crop will be revealed. Meanwhile the
market will be agitated by conflicting accounts as
to expected supplies, and will have its seasons ol
elevation and depression; but if the Bank Cotton
interest be directed wi|h the same steady hand as
during last summer, the ruinous consequences of
extremes in prices may be greatly mitigated, or
averted.
Upon a subject so surrounded by contingencies,
the best information upon which is exceedingly
vague, any prediction must be considered merely
an approximation ; and with this saving clause,
the foregoing observations may be summed up
with an opinion, that the present prices will be
maintained till the full season of supply, when,
us in almost all former years, they may becxpect
»* ’•
v V
_
Vol III.— No. 20.
H to yield to the pressure of import, unless, in
the mean lime, the apprehensions of a deficiency
in the crop obtain a more general belief. The
settlement 0 f tins all-important question would
regulate the market for the remainder of the year :
but, assuming the import into the kingdom to
i as a >osr, a justification of the present prices,
or thereabouts, will he found in the moderate
amount of the estimated stoek in the port* at
he end of the year, which, though suflicienUy
ge to forbid all idea of a scarcity, cannot cer
amly be considered excessive for an article of
t ie first necessity, and one of the great staples of
the country.
Liverpool Cotton Market—, Jaw. 1,1839..
Import.
~ , 1*37. 1838.
Liverpool, 1036206 1328647.
” hole Kingdom, 1178171 1428777
Stoek 1 Jan.
, 11S38. 1839.
Liverpool, 170820 248340
Kingdom, 250340 321090
Lxpnrttrom the Kingdom 1837, 124980
“ “ 1838, 102370
CLASstptcATiON —Jan. 1, 1839..
Uplands, ordinary to middling, 7jfd a 7Jd.
fair to good fair,j 8j 8A
ROO‘L 9'
* Now Orleans, ord. to mid. 7$ 7?
fair to good fair, 8j 8j
Rood, 9 a9J
Tennessee, & Alalm. ord. to mid. 7} 7g
fair to good fair, 8
Rood, _
Mobile, ordinary to middling, Vjjd a 7jd.
fair to good fair, 8} 8A
K°°Ji 81 9*
•Another Circular quotes New Orleans Cotton at
6£d to 1 Id.
Liverpool,January 7.
Cotton. The demand forCotton in the early part
of last week was rather limited, and till Thursday
a decline of j to Jd. per lb. was, in many instances,
submitted to, but nearly all the large holders re
fused to sell at the reduction, and the extensive
purchases made on Friday enabled them, without
difficulty, to obtain the full rates of the previous
week. The total sales amount to 20,500 bales, (of
winch 7500 American, 1100 Carthagena, 100 Bahia,
and 700 Surat have been sold to spacnlatorsA and
comprise 220 Sea Island at 18 a 2Sd, with 50 stain
ed at 7d a lod ; 5990 Bowed, 1$ a !)d ; 2110 Mobile
Alabama and Tennessee at 7 a 9d,; 9990 Orleans 7
a9Jd| 400 Pernambuco, Pariaha, &c. 9A a Ultd
-450 Bahia and Macaio 8 a 9 ; (d ; 240 Maranham'W
a9Jd; 40 Peruvian bid; 20 Laguayia bd; 125(1
Carthagena 5J asjd ;20 Dcmarara 9.{d ; SO.Barba
does 18dj 20 common West India bj a 9d; 130
Egyptian 13} a 16}d ;60 Smyrna 6} a
Surat 51 a 6 .id; and 20 Madras at 6}d per lb/ The
market is firm and steady. The sales to-day are
6000 bags, 1400 of which are American on specula
tion, and also 600 Pernams. Prices remain as on
Friday. On Saturday 12,000 bags were sold.
Charleston February 16.
In making our cuslomary inquiries yesterday in
relation to the business operations of the week, we
were pleased to learn that there has been an in
creasi d demand for every article of produce a num
ber of country merchants and dealers from the sur
rounding States having entered the market with
the view of laymg in their spring and summersup
plics.
Cotton.— At the close of the last and in the early
part of the present week, the Upland Cotton market
was rather quiet, and the operations consequently
light, being confined chiefly to speculators at the
full prices quoted in our review of the 9th inst.
There was an evident disposition among legitimate
dealers to suspend operations, believing that advices.
Iron the other side of the watt r (which are anx
iously looked for) must be near at hand, but having
been disappointed in this belief, tho market opened
on Thursday with considerable briskness, both for
the homo trade and for tiic European markets ; and
it is supposed that during the last two days 5000
bales have been sold at an advance on last week’*
quotations of fully } cent per lb. on ail qua ities.
The sales embrace 7000 bales atfrom 13 to 17 cents
per ib. I lie article at the close of the market
toi day was wortli as follows; —Liverpool classifica
tion —Ordinary and inferior 13} a 14; middling to
middling fair 14} als J; fair to'fuhy fair 16 a 16};
good fair 16j ; and choice 17 cents per lb. The
sales in .Sea Island have also been extensive during
the week, amounting to fully 700 bags at prices
ranging from 40 to 73 cents, with about 40 bags
stained from 14 to 22 cents per lb.
Hire. —The transactions in this article during tho
week although light have been at a fraction advance
on last week prices. The sales are—92 tierces at
4}; 130 at 49-16; 111 at 4(f; and about 220 tierces
at 4 J per 100.
Grain. —A further supply of 34,000 bushels of
Torn—the receipts of the week—have been added
to our a 1 ready abundant supply of this article, which
lias consequently caused a decline in price. We
quote for the general qualities 83 a 92 cents —with
several cargoes afloat unso d. Wc would remark,
however,that a prime article has brought something
above these rates. About 1800 bushels Oats brought
our quotations—<so a62 cents per bushel. Os Reas
4000 bushels brought 85 cents per bushel. SeveraF
parcels of Hay have been received and readily com
main! our rates—l ga 1} per 100 lbs.
Hour. —There has been a fair business doing in
most qualities of Flour during the week, at the fol
lowing rates. North Carolina 8} a9, according to
quality; several small lots Baltimore and Virginia 9
a 0g per barrel—of Canal, we have no sales to re
port, but believe I<>4 is a criterion of the marketfor
this description of Flour.
Salt. —The receipts of the week are 2,500 sacks
Liverpool—the most of which has changed hands,
at 4vl 75 per sack.
Huron —Sales of Bacon have been made at the.
following rates:—Hams 11 a 13; Sides 11; ami
Shoulders 9 a 9} cents per lb
Ijiril —Between 2 and 300 kegs new Baltimore
Lard brought 13} cents per lb.
Coffer —-The transactions this week in Coffee have
been light, and wc believe confined chiefly to Cuba,
of which 160 bags brought 11 j a 12, and 200 do.
12} a 12,;* per Ib. Receipts about 90 bags.
Sugars —Several small lots Muscovado have
been taken at 8 nr 10 cts. according to quality. The
receipts of the week have been 553 hhds. Attakapas,.
(Louisiana) 500 hhds of which changed hands at
prices ranging from a 7|, principally at 7a 7}
cents per lb
Molasses —The weekly receipts arc 85 hhds and
33 tcs. Trinidad; 583 bids n fifids, and 2tcs At
takapas, (Louisiana ) The former brought 32 cts j
ami 3SO bids of the latter 29 cents per gallon.
Liquors —Domestic plenty and dull. In Foreign
we have no transactions to report.
Exchange —Hills on Knglnnd 4,80 a 4,85} to
the pound sterling—on France 5f 15 a 5f20. Bank
Checks on New York 1 a 1} percent prera.
Freights —To Liverpool }d per lb for Cotton.
To Havre 1 a 1 jj for Cotton, and $2,75 a $3 per 600
lbs for Bice.
Savannah, February 15.
Cotton Yrrivcil since the Bth inst 9341* bales
Upland and 24 > bales Snalsland Cotton, and cleared
at the same time, 3065 bales Upland and 6 bales Sea -
Island Cotton ; leaving a stock on hand, inehariVe"
of all on ship board not cleared on the 15th inst. of
30414 hales Upland and 1148 bales Sea Island. From
the date of our last review, until Wednesday, the
demand for Upland was particularly animated, and
a further improvement in value established of 1 cent
per Ib. in all qualities: the sales of the week amount
to 7178 hales at from 13 to 16$ cents per lb.
In Sea Islands there has been a fair enquiry at
previous rates, other sales are 373 bales at from 38
to 55 cents per lb.