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THE six months that have passed since to a recognition of those colonies as indeour last general view of the commerce of pendent states. The extent of the advan. the united kingdom have not on the whole tages that will be reaped by the merchants been distinguished by any extraordinary of Great Britain in consequence of this deand sudden fluctuations ; but, with the ex- terinination, will very much depend on the ceptions that may be found under the par. character of the gentlemen sent, and on the ticular heads, trade has kept on in a pretty instructions chey may have received. Our equable course. The expectations that ministers, however, appear to be seriouswere at first entertained respecting the ly determined gradually to introduce a effects of the war between France and more liberal system of foreign trade, which Spain on the commerce of this country there is every reason to hope will be folhave been in fact totally disappointed. lowed by other nations, and produce the After the mighty struggles which we have happiest effects for all. The grand diffiwitnessed, the expedition of the Duke culty, es we have more than once observed, d'Angoulême to Cadiz has hardly excited is to depart from a long established system any interest comparatively speaking, and in such a manner that the shock arising its influence on commerce has been small from the transition may be as slight as pos. the temporary blockade of some Spanish sible. So many interests have been created ports declared by the French government, by the encouragement of prohibitory laws, and some petty vexations said to bave been that it would be equally impolitic and cruel practised in consequence, by French cruiz- to ruin them, by the precipitate adoption of ers stopping British vessels, being we be even a manifestly better system. lieve the whole extent of the interruption time however is certainly come, when a resuffered.
An apprehension, however, turn to a more simple and natural state of which we do not judge to be ill-founded, is things can no longer be delayed ; foreign entertained by several persons, that the nations have gradually acquired the means result of this expedition will be prejudi. of turning our own system against us, and cial to our interests. That Spain is now some have even exceeded us, in the seve, less in a condition than ever to supply rity of their commercial restrictions. Care her own wants is evident; and should the therefore must be taken, when we are government of the King even enact the adopting a change, which will be advanmost rigorous prohibitions, it is very cer- tageous to our neighbonrs as well as our. tain that a most extensive contraband trade selves, 10 stipulate for reciprocal facilities will be carried on. But as Cadiz, and from them. This is done in the bill, auprobably some other ports (St. Sebastian thorising his Majesty under certain cir. and Corunna for instance), will be oc- cumstances to regulate the duties and cupied by the French, they will have drawbacks on goods imported and exported the best opportunity of deluging the in foreign vessels, which having been inpeninsula with their own goods, while they serted in the number for August last (page will very readily second the Spanish autho- 228) need not be repeated here. rities in excluding those of England. This Serious differences had arisen between will be a great blow to Gibraltar, from the European Powers and Turkey respectwhich a most extensive and lucrative trade ing the navigation of the Black Sea, the has been carried on. It is, besides, not Porte having thrown obstacles in the way unlikely that the French government may even of vessels belonging to those nations obtain from Ferdinand some beneficial pri. to which the free navigation to and from vileges for the French trade, as a partial re- the Euxine was guaranteed by repeated turn for the efforts made by France to re- treaties. These disputes have, it appears, store him to absolute power, and for the far. been ended after very tedious negociations ther assistance which there is every reason between Lord Strangford and the Turkish to believe will be afforded to Spain, to re- ministry ; the issue of which will be seen cover the South American Colonies. This by the following official notice, published seems the more likely, as the English Mi- by the British Consul at Constantinople, to nisters have explicitly declared that they whom it was addressed. will not consent to the transfer of any of the Spanish colonies to France; and have “ Palace of England, Constantinople, even chosen at this very time to send con
Sept. 12, 1823. suls, vice-consuls, and commissioners, to “Sir,-1 announce to y u, for the inthose colonies which have declared their in. formation of the factory, that, in consedependence, and have successfully asserted quence of an arrangement, concluded this it. The importance of this step is evident, day, between the Ottoman government and since it must be considered as tantamount me, the removal in the port of Con. DĖc. 1823.
stantinople of cargoes, or parts of car- tember, 230 chests at a public sale on the goes, from one European vessel to another 10th sold ordinary to fine white 378. to European vessel, is henceforth permitted in 45s. 6d. Yellow, 278. to 295. In the last all cases, when an official application to half of September the demand was steady that effect shall be made by the embassy, though limited ; but good and fine sugars in the form agreed upon between the Porte being exceedingly scarce the holders oband me.
STRANGFORD." tained higher prices, and several extensive It is asserted in some foreign journals importers even withdrew their samples in that the Porte has even consented that the the last week, anticipating a further connavigation of the Euxine shall be given to siderable advance; inferior qualities were all European vessels without distinction : rather heavy, but without any alteration in but this has not yet appeared in any official the price. On the 30th the sales exceeded shape ; though we think it not improba. 1000 hogsheads, fully supporting the preble that such a concession may be made on vious prices. Barbadoes sugars at a public the arrival of M. Mingiacky at Constanti- sale that day declined about ls. especially nople, whither it is positively stated that he the good and fine, from 63s. to 698. which is going as Russian Envoy, having received had been previously very high in proporhis instructions from Count Nesselrode at tion; do molasses were to be had under Czernowitz, to which place he was summon. 28s. Refined had not much varied, lumps ed for that purpose during the meeting of were rather scarce and in demand. The the Emperors of Russia and Austria at that demand for foreign sugars was consideracapital of the Buckowina ; a meeting which ble. 800 chests of Havannah at a public is known to have caused considerable sensa- sale sold freely. The white at very high tion in the Divan.
prices, very white fine, 44s.; ditto good and Sugar.-The market was declining dur. middling, 40s. to 428. 6d.; ditto ordinary, ing the month of June, till the last week, 375. to 40s. ; yellow soft, 26s. to 278. ; when there was a considerable demand for brown soft, 23. to 255, In October the plantation sugar, and extensive busi- prices of Muscovades had in general a tenness was done at full prices, particularly dency to rise, though the demand continufor strong browns, which were scarce. Large ed limited, as the refiners refrained as Hamburgh lumps, for which there had much as possible from purchasing, on acbeen a good demand, declined a little to- count of the relatively low prices of their wards the end of the month; but lumps goods. The sales on the 21st, however, fit for crushing, for the Mediterranean, were estimated to exceed 1500 hogsheads were in great request at an advance of ls. at an advance of 1s. In the following to 2s. It is remarkable that during the week the purchases were very considerawhole months of July and August the ble; and on the 28th the opening of the prices current did not quote the prices of market presented a scene of uncommon inany description of sugar as either rising or terest and activity. The regular advance, falling, from which it appears that the and the firness of the holders, induced fluctuations were at all events inconsider the wholesale dealers who were out of stock able: in fact we do not find the decline or to attend early ; and as several brokers advance in any one week to have exceeded also were decided buyers, the holders im18. or 1s. 6d. At the beginning and mid. mediately advanced the prices 18.; this for dle of August there was a good demand for a short time damped the ardour of the purraw sugars, which was rather checked in chasers, but as the day proceeded the dethe latter half of the month, by the firm. mand revived, the advance of 18. was ness of the holders, who were asking higher readily obtained, and at the close of the day prices, and seemed by no means disposed the estimated sales exceeded 2000 hogsto relax for the purpose of facilitating sales. heads, at an advance of 1s. to 28. per cwt. In September the state of the market was These extensive sales have had the very more favourable to the sellers. At the natural effect of limiting the demand, but commencement of the month the business without any reduction in the prices ; nor done was not indeed considerable, as they does any seem probable, for the holders, in remained firm, and the prices were inclined consequence of the deficiency of stock, to rise. The sales on the 9th amounted, compared with the same period last year, however, to 1200 casks at least, at a small are very firm, and show no disposition to advance, and every appearance of improve- give way. The actual deficiency is 11,000 ment; brown sugars were not to be had or 12,000 casks, and as no considerable under 54s. The demand for refined, how- importations are expected before Christmas, ever, was not so brisk, and the prices de- it is supposed that by that time it will clined. The sales during the whole of that amount to 15,000 or 18,000 casks. The week were 4000 casks. Refined were not price of the refined is still too low in commore in demand ; brown lumps for Ham. parison with those of raw goods. burgh 768. good large 778. small lumps Coffre, during the greater part of June, for crushing 78s. to 80s. Molasses steady was at low prices, and gradually declining; at 278. 6d. Havannah sugars were in but in the last week the market revived, great demand in the second week of Sep- and the prices then were, Dominica, fine
ordinary to middling, 998. 6d. to 1098. 6d. ; 648. to 64d.-Bengal, good, 7d.; fair to
ending 15th of November, were 308,000 Cotton.-- In the month of June, the bales ; the arrivals 250,000. London market was more animated than Salt
petre and Spices. These articles ofusual. In the second week of that month, fered but little interest from the date of our above 7000 bales were sold at good prices; last general view, till the East India sale on less business was done towards the end of the 11th of August. Pimento is, however, the month, but the prices were still favour- to be excepted, having continued in deable. The sales at Liverpool, in the four mand, and selling readily from 8£d. to 9 d. weeks ending 21st of June, were 71,000 per lb. At this sale, the saltpetre fetched bags, and the arrivals above 60,000. The from 21s. to 23s. 6d. which was fully 1s. demand at Glasgow was also considerable, higher than had been expected, and nearly The month of July will long be remark. the whole, which exceeded 4000 tons, was able, on account of a most extraordinary bought by speculators ; black pepper, 6 d. speculation ; in the course of which, to 6 d. white, 15fd.; cinnamon, first quasales at Liverpool amounted to nearly lity, 78. to 8s. 4d. being at least 1s. above 100,000 bales ; at London, to upwards of the preceding sale prices ; second quality, 50,000 ; at Glasgow, 10,000 ; all within 58. 7d. to 6s. 6d.; mace, first quality, four weeks. The prices at the middle of 58. ld.; nutmegs, ungarbled, 38. ld. ; June were as follows:-Surat, good 8d. to cloves, good quality, 2s. 10d. to 38. 7d. ; 8£d.; middling to good fair, 6fd. to 74d.; ginger, 16s. to 20s. The prices after the ordinary and middling: 6fd. to 640.– sale remained nearly the same, with some Madras, good 7d. ; middling to good fair, trifling Auctuations ; pimentó still. con
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tinuing to be in most request. Other Indigo. It is remarkable, that notwithspices rather tended to decline; and at a standing the high prices at Calcutta, public public sale on October 17, pepper and cin- opinion has not been favourable to this arnamon sold exceedingly low; viz. black ticle; so that at the July sale of 4613 pepper, middling heavy, 5d. to 53d. ; 800 chests, few orders had been received, and bales, 33 chests of cinnamon, first quality, the proprietors were under the necessity of 6s. 7d. to 6s. 9d. ; second, 53. 10d. to taking in about half the quantity. 6s. ld. An advance of 6d. per cwt. took The prices commenced and continued place in saltpetre, towards the end of Octo- pretty steady at a reduction on the Comber. The following is the result of India pany's last Sale of 9d. to ls. 3d. per lb. on sale on the 11th of November; saltpetre, the fine and good shipping qualities, and 1095 tons Company's, 228. to 23x. 6d.; from 3d. to 6d. per lb. on the qualities suitditto, 707 tons private trade, 228. to able for home consumption, excepting 24s. Ed.; pepper, 600 bags Company's strong coppers, which generally brought black, 5 d. to 54d. ; ditto 4400 bags pri- last sale prices, as did also the Oude and vate trade, 4fd. to 64d. ; cinnamon, 171 Madras : the prices afterwards went from 3d. bales first quality, 6s. 7d. to 6s. 8d. ; ditto to 9d. per lb. lower on most qualities, parti159 bales second quality, 58. 7d. to cularly the middling and mixed descrip58. 10d.; cloves, 104 chests Bourbon, tions ;-430 chests of the Company's 2s. 4d. to 28. 7d. ; mace, 14 casks first qua- passed. lity, 5s. ld.; nutmegs, 62 casks ungarbled, The following is a statement of the num38. ld. ; cassia lignea, 71. 58. to 71. 16s.; ber of chests at each price, viz. :-241 ginger, 178. 6d. to 18s.; sago, 18s. to 32s. chests from 10s. to 10s. 6d. (per lb.); 1121,
Hemp, Flax, and Tallow.–The tallow 98. to 10s.; 1330, 88. to 9s.; 853, 78. to 8s.; market, though on the whole, inclining to 430, 6s. to 75. ; 149, 5s. to 6s. ; 49, 4s. to improve, was not very brisk till the begin. 58.; 10, (trash) 2s. 7d. to 3s. 8d. ning of August, when the high prices of In the October sale, which began on he meat, the abundance of money, and the no. 7th, the quantity brought forward was cion that the fishery would prove unfavour- nearly 5000 chests. able, caused an increased demand ; the The Company. put up 432 chests, of price for arrival was 378. The market re. which only 91 chests were sold, the remained firm, and rather improving, and at mainder being taxed too high. Of the the end of the second week of September licensed and private trade, full one-half, was very brisk; yellow candle being at chiefly middling and low sorts, has been 39s. and soon after at 41s. ; but very fa. taken in by the proprietors. vourable accounts of the fisheries having The prices commenced at a reduction of been received, they fell to 39s. 6d. but 6d. to 1s. per lb., as compared with the latagain reached 40s.; and, in the last week ter part of the Company's sale in July last, of September, there were great fluctuations. upon all qualities ; but on the second day The accounts from Russia stating an ad- an improvement commenced, and increased yance, and the reports of the good suc- on each succeeding day to the end, at an cess of the fisheries, affecting the market in advance of 3d. to 9d. per lb. on the first opposite ways; the former, however, seem- day, making the prices nearly equal to the ed to have the most weight, as the price latter part of the last sale, particularly in rose to 41s. 6d. and was still 4ls, on the the middling and ordinary qualities. last day of the month, though the market The following is a statement of the numwas heavy. It has since declined with va- ber of chests at each price, viz :- 118 rious fluctuations, and the price on the 18th chests from 8s. to 8s. 10d. (per lb.) 571, of November may be stated at 378. This 78. to 8s.; 1858, 6s. to 78.; 673, 58. to 6s. ; eduction has been caused by one of the 659, 4s. to 5s. ; 699, 38. to 4s. ; 78, under chief speculators for the advance having 38. ; 20 (bags, sweepings from) Is. 6d. to withdrawn, after privately selling his whole ls. 9d. stock. Hemp fell ll. per ton at the begin. The reports from Calcutta of the Indigo ning of July, and flax 21. per ton ; some crops were not favourable. trifling fluctuations in both articles have Rum, Brandy, and Hollands.- The since iaken place, but very little has been prices of Rum have in general been low, doing
with incidental variations of course, but not Tea. The market has not been distin- such as to call for particular notice. The guished by any thing remarkably inter- government contract of 100,000 gallons esting. At the sale at the India House, in was taken on the 30th of September, at the the first week of September, Boheas sold low rate of 1s. 31d. per gallon for the a shade lower than in June ; common and whole. The market continued very heavy middling Congous d. per lb. higher; the for some weeks ; the unexpected declarafine Congous rather lower ; Twankays fd. tion of a government contract for 100,000 and common Hysons ld. per lb. cheaper. gallons at the beginning of November gave After the sale, tea was rather heavy, and hopes of an improvement; but this was most descriptions to be had on the sale taken in the following week at ls. 3fd. per
gallon Brandy was at one time inclined
to rise, as it was believed the vintage would the month with some fuctuations, (but be unfavourable, but the later accounts never falling below 224.,) from 225 to 226, from France tended rather to depress the closing on September 1st at 2261. It market. The price of parcels here is 2s. opened again on October 11th, at 225 ex 11d. to 3s. The new which is expected to div. ; 14th, 226; then declining gradually be better, may be landed on the quay at 2s. to 2214, on the 31st.-November 1st, 222; 8d. or 28. 98., according to the price in 18th, 223, 2, , *. France. There has been but little doing THREE PER CEXT. CONSOLS.June in Geneva ; the supply at market being shut the whole month; opened July 7th, scanty ; the best pale may be now stated at 80% ex div. advancing by fractions to 15th, 2s. 4d. per gallon.
824 ; 22d, 83, and declining to 80% ; 81 on There is much interest excited in the the 31st. - August 1st, 81%, rising to 833 ; market, by a report that government is the 12th, falling to 82 and a fraction ; the about taking into consideration the pro- 30th, 83.–September the 10th, 82 and a priety of lowering the duty on spirits: fraction ; 17th, to the end of the month the rumour was first, that the duties on generally 83 and a fraction; and so rerum only would be reduced ; but, we be- maining till October 27th, 825Novemlieve, it applies generally to spirits, and ber 1st, 82] ; and then till the 18th, 83 originates in the great expences of the pre- and a fraction. ventive service, and the high duties holding FOUR PER CENTS OF 1822.-June 2d out so great an inducement to smuggling. to 15th, 1004 to 3 ; 18th, 1014; 30th, 102
Oils. The prices of fish oils rather des July 2d, 102]; 7th, 99% ex div. The clined till the end of July, but the wet highest on the 22d, 102; 31st, 100.weather caused a considerable demand for August, fluctuating the whole month, backRape oil, which rose to 34l. and a farther wards and forwards, between 100 and a rise took place in August ; this tended to fraction, and 101 and a fraction.-Septemkeep up the price of fish oils, respecting ber, 1014; after the 5th, 102 and a fracwhich there was little ground to form an tion.—October 1st, 1025, rising afterwards. opinion, the arrivals having been few, and to 103 and 104, and fuctuating between the accounts brought by these vessels of an these prices ; 31st, 1023.-—November 3d, early date. In the first week of Septem- 1034 remaining pretty steady at this price ter several vessels arrived from Greenland, nearly ; 18th, 1031, & to 4. with more favourable accounts, and fine In foreign funds the most remarkable weather having set in, both fish and seed variations in the preceding six months oils were lower. The depression was com- have been in Colombian and Spanish stock. pleted by the extraordinary produce of the The Colombian, which at the beginning of Davis's Straits fishery, to which the Green. June were at 62, and on the 18th of Noland being added, made the amount of vember at 58), have in the interval ex20,000 tuns of oil. The prices have been perienced most rapid and ruinous fluctuasince the commencement of October, 19. tions, according to the credit given to the to 191. 10s. Seed oils have been rather various statements respecting the intentions more in demand, and at advanced prices of the Colombian government. They rose since the middle of November.
and fell several per cent in the space of a few hours, wavering on the 24th of June be
tween 47 and 41; on the 25th, between 43 THE FUNDS.
and 51, reached 59 on the 28th ; on the View of the Fluctuations of the principal ber 2d, at 68; on the 3d, 48, 2, 7, and 5 ;
24th of July were at 64; and on SeptemStocks viz. Bank, 3 per Cent. Consols and 4 per Cent. of 1822.
they have risen, with many fluctuations, to
61; and on November 18th, were at 587. Bank STOCK.-At the end of May, SPANISH BONDS OF 1821, which were 2194; June 30, 219; 5th to 12th, 2178 37 in June, have been as low as 22; and to 218; 14th, 220; 20th, 219; 30th, November 18th, 254 ; Spanish Bonds of 2214.-July 1st, 2214 ; 9th, 223} ; 15th, 1820, in June, at 47, were at 36 on the 2244 to 225; 220, 2263 ; 30th, 223. 8th of November. August 5th, 224}; varying for the rest of