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THE BANK ACT OF 1814.
THE BANK ACT OF 1814. Those who undertake the defence of the Bank Charter Act of 18il have an easy task so tong as they confine themselves to answering the objections of such assailants as fir. Salt and men of the same school, whose rosl objection IS to the Bill of 1819, which provided for the convortii»iiity of Bank notes, and who attack the Act of in that sense only. It would be much more satisfactory to the public, and much more worthy of their mission if such writers would disregard as wholly without influence the small knot of "inconvertibles,"who still indulge in the arcam that wealth can be created by an unlimited issue of CI promises to ?'" upon the condition that payment is !le\'r to be demanded and were to graJnin'ie witf, the ob- ject'' )nto   1841 raised by tch ? as ?r. T k e T1 1.tr. t c) S?V° thf AMll,f 1J' '? ?' r'?'?t?. Between these emSoif wyters> and '"? most eminent of the opposite ,?ol who i'ave supported the principle of the Bank Act of such as Mr. Jones Lloyd (Lord CKerstone) and Colonel Torrens, there is at least a perfect accord upon the necessity of maintaining convertibility. All are equally the uncompromising ad vocates of the principle of the Act of 1819. It is therefore a mere idle waste of time, and can have no other effect than that of drawing attention from the real point at issue, to continue to discuss whether Bank notes should represent the real value which they profess to do, and whether, as the only means by which I that object can be attained, they should be convertible on demand. A few days ago a letter appeared in the Times bearing the signature of Mercator," which is described by the Editor as containing a few simple truths on the currency by a high financial authority." The object of this letter is a defence of the Act of 1S44. The whole of the argument in Mercator's" lettcr proceeds upon a fallacy so plain and so transparent, and which we thought, since the discussions which took place III 1847 and the evidence taken before the Committee of 1848, had become so generally acknowledged, that it never I would have been seriously urged again. That fallacy is that the Bank of England and Banks of Issue generally have the power to increase or contract the circulation at pleasure, Aldreator" says :-Before the Act of 1814 no restriction was placed upon the amount of the paper issues, except that which was supposed to be involved in the obltgation to redeem the paper notes in gold on demand. The obligation to pay in gold was thought to be a sufficicii t security to the public that the power to do so would at all times be maintained by the issuers. This delusion, however, was dispelled bv the events of 1825 and 1837. The excessive issues of paper money which preceded and mainly caused those convulsions were not found to afford any pro- teet/on against evils which ice are now toid are the offspring only of undue restriction. Nay more, they appear to have produced those evils in their most intense and foiimdabie form—severe pressure, high rate of interest, extreme alarm, extensive insolvency, approach within a few hours to a state of barter, and the specie reserves virtually exhausted. This was sufficient proof that the mere obligation in words to pay the notes in gold On demand is not a suffi- cient security against excessive issues, or a safe guarant y for the faithful fulfilment of that obligation at alt times. Hence the act of 1844, by which a new security was sought for the convertibility of the notes, and a new pro- tection against irregular and illegitimate issues. "Mercator" must not only have overlooked the discus- sions of 1848, but he must also have forgotten the expe- rience of 1847. True, it was professed that the reflations of thepctof is44 would effectually provide against finan- cial and commercial crisis, but the experience of 1817 soon dissipated that delusion. But then it was boasted that at least the convertibility of the note had been maintained Truly, but was that by the Act of 1844 ? Sir Robert Peal in his speeches in Parliament, and writers out of Parlia- ment, speak as if at various times between 1819 and 1814 the Bank had been obliged to suspend payment. On the contrary, was the convertibility of the note not equally maintained during the whole period from 1819 and 1844, as it has been since ? But was there ever a period when that object was secured at so great a sacrifice as in 18-17 The obligation to pay in gold was thought to be a bifl)cient security to the public that the power to do so would at all times be maintained by the issuers. This rlp- lasion was, h,),, ever, dispelled by the events of 1825 and 18'7. The excessive issues of paper money which preceded and mainly caused those convulsions were not found to afford ??VP/otcction against cdls," &c. Again This was a ?(:i", t proof that the mere obligation in words top?y the notes in gold on demand is not asufficient security against excessive issuers," &c. No one doubts that a prom;se to pay does not necessarily imply the ability to pay. But that is a question which touches the character of the issuers of the notes, as to their solvency or insolvency, but does not touch the principle upon which a notoriously wealthy and Qolvent publi, establishment shall conduct, its issues. Was there ever a moment between 1819 and 1844 when the slnncy of the Bank of England was disputed, or its notes dIscredited? But then it was excessive uses which pro- l* prf and mainly caused the convulsions of 182? ?d 1837," tnd, therefore, they ought to be restricted. Such is the argument. ?cre, then, is obviously a confusion be- ,g currency and capital,—between circulation and credit. lt is that there were "excesive issues" at the se • s • The years of 1821, 1822, 1823, and the first half of 10- ,wcre certainly not periods of speculation. Towards the close of 1821 some excitement prevailed, and it in- creased until the summer of 1825, when it was at its height A reaction began about September, and it increased into a panic or convulsion" in the middle of December, first by the suspension of London banks, who by law were pruhi- bited from 'ssuing notes. Well, how stood the circulation of the Bank during that period? We refer to the Returns 111 the Appendix to the Report of the Committee on Com- mercial Distress, and we find the circulation of the Bank to have been- x 1821 August 20,295,000 I 1822 February. i8,6C?OOO A?t. 17,464,000 ,1? February 18,392,000 August 1?231,000 W 1824 February 19,730,000 ?"?st.?. 20,132,000 1825 ?'?y. 20,753,000 August.?.??.? 19,398,000 Is it possible to recognise any proof of "excessive issues" in these figures ? But what is most striking is, that notwithstanding the slight variation in the circulation during tne great excitement of 1825, when speculation was eo rash and credit so indiscriminate, after the greatest possible restriction had been placed upon credit in Decem- ber alld January. the circulation of the Bank had risen on the 28th of February to C25,467,000 including the million of one-pound notes then issued. Again, let us examine the facts us they existed in 1837, and poor to the" convulsion" of that year. The years 1833 and 1834, and the first half of 1835, were periods of no excitement or speculation. Towards the close of 1835 the great American speculations set in, and continued during the greater part of 1836. In October of that year some difficulties began to be experienced, which increased in intensity till the middle of 1837. Well, how stood the circulation during those years ? Again, quoting the same return We find it was as follows:- "T.- 1833 February. 19,370,000 August. 19,629,000 1834 February. 19,252,000 August 18,839,000 1835 February. 18,328,000 August. 17,892,000 1836 February. 18,102,000 August. 18,158,000 1837 February 18,232,000 What proof is there here again of excessive issues" having led to the "convulsion" of 1837? On the contrary, it is curious that the moment when the great speculation began, in the autumn of 1835, the Bank issues were at a lower point than at any time during the whole period. But these are the facts upon which the principle is based that dictated the Act of 1844. We have said that the great error consisted in the confusion between circulation aud loans, If we return to the Bank returns, we shall easily discover how, upon this explanation, the convul- sions" of 1825 and of 1837 arose. We shall find that, a l- though the circulation continued almost stationary, the advances by way of loans and discounts rapidly increased, and led to the excitement and indiscriminate credit which in those years led to such disasters. From August, 1821, to 'he end of 1825, the securities held by the Bank were as ,Itow, 'v'  August 18,475,000 Iko., February 15,973,000 1822 February. Ii' 2UO, 000 toon ?"SU6t. 17,290,000 ?-0 -February 18,319,000  A,,g.?t i?? ooo 1824 FebruarY 18,872,000  August 20*904,000 1825  20,904,000 1 IKo. February 24,951,000 August 25,100,000 A" H| we have during the period in question an i0? a? s?'securities held by the Bank of ?6,6?,000, and tb?'?'y at the peiod corresponding with the great tli*-jpuj v' and speculation :—and the account is even more c??inc take for comparison only the portion of those ? ritie ?,?'"tchparticularty represent private credit. The sf'ivatg.j 6<??.m??curitief, consitttint; chieily of hitis discounted, uYe in 8fcuritie», consilltin chiefly of bills discounted, ";If had -?ust, 1821, only ?2,722,000; in August, ISU, t? h-, ?creased to £ 0,255,000 and in August, 1825, thl[re in ?rther increased to ?7,691,000,—showing an ''?e of J}arly £5,OOO,OO; and this took place ^ifhout a in the circulation whatever ;-and yet 1 u ''the ^crease in the circulation whatever ;—and yet all oe without is said to have arisen from excessive ? '?a lo°h an lthout any reference to the true cause of exces- | capital. If, the,, ?'s Bank Act of 1844 was based upon such er- 3 ''?it?t?sumptions, it cannot be a matter of surprise 1 I$ t It 81 1(juld have so seriously disappointed the expecta- 1 ''•> of '? framers. It certainly cannot be said to have 1 f? to ]???'! speculation, for tne country in the years -I)' ?to l '?asmorethe victim of that evil than in any t ?crDp ?'??'H the memory of the present generation and, 0 ptaee 0 place Of having alleviated the crisis when it came, it 13 j?110 t b Q deiiied that it had the effect of aggravating it; II life °t¡t 40? that the Act was virtuaUy suspended. We d <?eoh)? ?°? '?su?bt mit the Bank accounts to the same cxa- n )i|iatioi ?? ?'? ??'c'' period, as we have already done with t fj?ar^ lodu, t 0 ??o to 1837, to show that no effect whatever was 1 t?t t? d the Act of 1844 in preventing s peculation, but )- crc \?'rcun)stances which led to it at the latter period le :)3?0h Y similar to those of the former period, both in 3 >curiije 'o circulation and to advances of capital upon 10 curili,? These two elements in the Bank returns stood III ig. Circulation Private securities. Ll, Pebi-uar3, 21,148,000 5,837,000 je I845 August. 1,485tOOO 7,870,000 February. 21,201,006 11,809,000 184c August 22,109,000 11,712,000 February 20,968,000 23,212,000 is I847 'August 21,390,000 12,765,000 id ebruary 20,1.51,000 15,819,000 Ii It is ir Aiigugt 13,828,000 16,923,000 of ? (J?sible to examine these facts, without arriving I an *? ;?llelusion that "excessive issues" had nothing I of do %v?lt 4 the panic in 1847, but that, as in 1825 and ,in 37, credits were the sole cause. So far from .c- the circulation being excessive at the moment the panic arrived in Sept., 1847, it was lower than it had been at any time during the whole period, but the advances upon private securities had increased from £ 5,837,000 in 1814 to X16,920,000 in August, ISH. Acting upon the fallacious assumption, then, that all over-trading and consequent panics have been caused by excessive issues," and that the Bank had it in its power to increase or diminish its issues at pleasure, Parliament was induced to pass the Act of 1844, the supposed effect of which would be to regulate the currency ac- cording to prescribed rules. But experience has shown, that while the Bank has every power over the amount of its advances, it has little or none over its circulation. Sir Robert Peel appeared to think that the only means by which bankers could issue notes was by the way of loans or discounts; and that they had therefore the power, by eontra-cting their loans, to contract also the circulation, and by extending their loans permanently to increase the cir- culation. The slightest consideration will show that both these views were equally unfounded. The Bank may at pleasure contract its loans and discounts cither by raising the rate of interest, or by refusing accommodation; but the B mk cannot contract the circulation at will, so long as it hold: large deposits on behalf of the public which they can withonwat pleasure.. If notes are required for the purposes of circulation, they will be withdrawn by de- po>itors in spite of any attempt of the Bank to contract their amount. Indeed, it generally happens when the Bank is contracting its credits, the circulation for a time becomes larger in place of smaller. So, on the other hand, the Bank cannot extend the circulation at wiil. It may, indeed, increase its loans and discounts; but if the notes are not required for circulation, they will imme- diately be returned upon the Bank for payment. So much so is this rccogni<ed to be the case by practical bankers, that it has now become a rule in banking that no advance should be made in notes, that could not conveniently be made in coin. The actual circulation at any time is deter- mined by the requirements of trade in order to conduct internal exchanges, and net by the will of the issuers of notes. As long as bankers hold large amounts in deposit belonging to the public, the circulation cannot be reduced below the necessary amount required by the convenience of trade, however much bankers may contract their credits and as long as the notes are payable on demand, the issues cannot be excessive, however imprudent bankers may be in extending their credits. But, then, it may be said, that even admitting all this to be true, and further admitting the necessity of main- taining the principle of convertiblility, the object of the Bank Act of 1844 is only to give greater security to ih P. t principle. No one who contends for controvertibility will deny that it is the duty of the issuers of notes, to retain in their possession at all times such a reserve of that com- modity in which their notes arc payable as will enable them to fulfil their obligations. This is an obvious duty not applicable alone to banks. Merchants understand perfectly the necessity of maintaining such a command over money as will enable them to meet their obligations as they become due. But while this principle is fully recognised and admitted, no one will contend that a rule laid down in 1841 by Parliament can be a safe and sur e guide under all circumstances, and that it is to take the place of discretion and judgment, whatever the circum- stances may be. The Bank of Kngland equally maintained cash payments before 1844 as it has done since and it has equally unduly extended its credits since the Act of 1841 as it did before. The more this subject is discussed, the more it will appear that the Bank Act of 1811 was passed by Parli L- ment under an entire misconception of the principles which determine the fluctuations of trade and currency; — and consequently that it has been productive of no one of the benefits which men predicted from it. In another article we will examine how far it has been productive of injury at those times when it has had any effect at all.- Economist.
CATTLE FEEDING ON ARABLE LAND.
CATTLE FEEDING ON ARABLE LAND. The great rural problem of the day is, how to feed cattle with profit? There is every inducement to the English farmer to feed as much stock as possible. Meat sells for high prices. Tallow is scarce and exorbiantly dear. Grain is greatly in demand, and to alfc-rd an ade- quate supply much manure is necessary. Wheat can, and, under the pressure of present prices, will be grown more frequently than when the market price was lower, but in order to make it profitable to do so, the land must be well manured. Ilence there never was a time when thesoiu- tion of that problem was of greater interest to the farmer and to the public. The London Farmers' Club, having re- sumed its meetings after the autumn recess, a lecture on the best system of stall-feeding cattle, particularly on farms chiefly arable, and where economy in the consump- tion of hay, or its entire omission in the process, is an important consideration," was delivered Mr. O. Wallis, of Overstone, Northamptonshire. This was followed by a discussion by numerous practical farmers and land stewards present, and from the lecture and the discussion some useful hints may be gathered. The lecturer said that his attention was first directed to the subject 11 by occasional visits in the spring of the year to the cattle martket at Newcastle-upon-Tjne, where he had been particularly pleased with the well-fed Shorthorn and Scotch' cattle there exhibited." These were chiefly brought from Durham and Northumberland, with some from the border counties of Scotland, and he found that these cattle had been fed without hay. He afterwards found that a similar system prevailed in Yorkshire. With the view of obtaining information on the subject, he had written to numerous agriculturists in different parts of England, who had furnished him with different details as to their several systems of cattle feeding. Mr. Wallis said :-That this is a subject of the greatest impoitance to the occupiers of arable farms, at all times and seasons, cannot for a momeut be doubted for they cannot success- fully cultivate either corn or root crops without a sufficient supply of good manure, and for that supply they are, and I think they will be, in a great degree dependent on the farmyard. However valuable the artificial manures may be-and their value cannot well be over-estimated—they can only be looked upon as most useful auxiliaries. But I think the subject is of more than nsual importance at the present time, oning the scarcity of hay, and more particu- larly to the scarcity of store beasts for, notwithstanding the extreme rates at which meat has been selling, the oc- cupation of the feeder has been anything but a profitable one during the present year, in consequence of the Irgh prices he has been compelled to pay for his store cattle. Now, if our brethren in the North can produce annually a large number of well-fed cattle from their yards without the use of hay, why cannot we in the South do the same, and thus set at liberty an immense area of land now de- voted to its growth, including, of course, that produced from the a tificial grasses, on which young cattle may be reared and grazed till old enough for feeding ? With a rapidly-increasing population, demanding, and Iain glad to say obtaining, a higher standard of living, it behoves the occupier of the soil seriously to consider how the increasing demand for animal food can best be met; and I can see no better plan than that of allowing straw to take the place of hay in winter feeding on arable and mixed farms to a much greater extent that it has hitherto done in the southrrn portion of England. This is rery much the view we have often propounded and there is no doubt a more economical method of feeding than that practised in the midland counties, namely, fattening purchased beasts with hay, turnips, and cake, must be adopted to render the grazing of those districts as profitable as it ought to be. Such a change as vill lead to the rearing a greater number of young cattle on arable farms is much required. Th is is shown to be the case by several of the North of Humber farmers, who replied to Mr. Wallis' inquiries. For instance, Mr. G, 11. Ramsey, near Newcastle, writes :-The system of feeding in this partis—most farmers breed their own Shorthorns, or buy them young. They arc always well fed from being calves. They seldom eat hay, and not much cake but there is more of the latter used lately the price of butcher's meat being high, enables the farmers to buy it. Cattle are mostly sold at three years old, and their fat is laid on by Swedish turnips, straw, and a little cake. The large farmers north of here grow very little hay; their pastures and grass seeds are mostly consumed by sheep eating them on the fields. Hay has been selling here the last winter at 1:7 per ton and even if an ox eat a ton, it needs little argument to prove that won't pay. Mr. Lister, near Richmond, Yorkshire, says "hay is neither necessary nor economical for feeding cattle. I do not assert that hay does not assist in fattening cattle, but does it pay ? Is there not a substitute that is ciieapcr r Straw is kept clean and sweet, and thus straw stands in the place of hay. I use wheat, barley, or oat straw indis- criminately. Wy cattle get daily three feeds of Swede turnips, bean or pea meal, with 1 lb. of boiled linseed added, and straw. I do not cut my straw. The quantity of Swedes given is from 90 to 100 lbs per diem. They are always cut. 4 lbs of cake is the average quantity given." IIere, probably, there is room for further im- provement. Mr. Clark, near Durham, says—The animals I feed are generally heifers of the Durham shorthorncd breed, two- and-a-half years old and upwards, weighing when fat frcm 44 to 50 stones each, 14 lbs per stone. I have not fed with oilcake for three seasons, on account of its being so very expensive. I determined to make my cattle fat entirely on the produce of my farm, and have succeeded almost beyond my expectations. The cattle are placed in small folds (the latter part of October), well-sheltered from winds, &c., two in each fold, sufficiently bedded with dry straw every day, so that they rest warm and comfortable. They are fed with white globe turnips and oat straw about six weeks after that time with Swedish turnips and oat straw, until about four or six weeks from the finish I commence giving them half a bushel of barley and pea meal per week, with the turnips, increasing the quantity of meal a little each week. The cattle are fed four times a day with turnips, cut into slices three-fourths of an inch thick, always having straw to cat. I generally have them about five months, and each animal makes from £ 5 to CC,, according to circumstances, some seasons more and others less. With regard to feeding with hay, I have no doubt that hay and turnips will feed quicker than straw and turnips: At the same time I should never think of growing hay for the purpose of feeding cattle. I prefer using it in a green state in summer. This is substantially the Scotch plan, and errs in givir.g too large an allowance of turnips. Mr. Laycock, near Newcastlc-upon-Tyne, says:—I do not breed the stock I buy them about October, and put them up to fatten, and sell them off as they are fit for the butcher, always having in view the supply of turnips. In order to carry out my plan, I adopted in 1818 the box system of feeding, and built a convenient steading, a plan of which you will see in the 11th volume, part 1st, of the Royal Agricultural Society's Journal, page 215. I find I the boxes answer a most excellent purpose. The manure is entirely preserved from waste, both liquid and solid. The cattle are easily kept cltan, and I think the animals thrive better than under any other system. My mode of feeding is for an ox, say 60 stones, 14 lbs. per stone :-three feeds cut Swedes per day, 63 lbs. each, equal to 12 cut per week, at 7s. per ton, 4s, 2d.; 2 lbs. crushed linseed per day, steamed and mixed with steamed chaff, Is. 10!d, attendance each beast, GJ, j total, G, 7d. Each beast pro- duces, including the litter, 5| cwts. manure per week, which, at 7s. 6i. per ton, is equal to 2s. 2d. per week. This pays for the linseed and attendance, and I get clear 7s. per ton for the turnips. Mr. Cottingham, of Wranford, Suffolk, says :—My farm is principally arable at home. I have about IGO acres of good marshes, twenty miles from home. I generally graze two hundred head of cattle in the year. I buy about 130 or 140 good old beasts in the spring. If I tell you what they cost last year you will judge what they are. Fifty cost fIG each, fifty-four JE13 10s., sixteen E20 10s., fifteen £ 14 15s. They were all kept in the yards about six or eight weeks, upon one to two bushels of mangold each per day, according to the quantity of roots I happened to have. I cut the roots with Gardner's cutter, the same size as for sheep. In addition to the roots, I give each bullock a quarter of a peck of pea, bean, or barley meal, which- ever is the cheapest, and one peck of straw chaff, roots and all mixed up together. The sixteen best bullocks had 4 lbs. of cake also. All the lot had straw to pick over. About the middle of Miy all the beasts are sent to marsh. Three lots of them come home into the yards the 1st of October, the others this week. I divide them into lots of about fifteen or sixteen, and put them loose into yards (about eighteen or twenty yards square) The yards have good wide horcls to the north and east. They have all the white turnips they will eat, cut into slices about three quarters of an inch thick, until the Swedes are fit to begin. When the Swedes are finished they have mangold. The best beast I give 0 lbs. of cake and half ii prek of meal, with one peck of straw chaff each per day. I never have any hay for cattle, or for the horses. The other lots 0' beasts have 4 lbs. of cake and a quarter of a peck of meal at first After a month I shall add 2 lbs. of cake and a quarter of a peck of meal. I reckon to begin selling or sending some to London about Christmas, and have three yards empty by the middle of January to put some beasts in, bought about this time, to eat the tops of turnips and rough grass, which bullocks will receive the same treat- ment when in the yards as those now there, and will be sold out of the yards about June or July. I think the principal art in grazing is to buy old bullocks of good breed, and give them plenty of good food. Here we find a rough system, but the cost of feeding with hay is avoided. After reading these and other letters, Mr. Wallis said ;— Having thus shown that cattle can be fed without the use of hay, we will next consider in what way cut straw can be used in lieu of it, and the relative cost of the two articles. I am of opinion that if 1 lb of powdered cake can be mixed with as much cut straw as a beast will consume in a day, the chaff being first slightly wetted, or the cake mixed with water, and then mixed with the chaff, it will be found nearly, if not quite, as nutritious as chaff composed of equal parts of hay and straw. But, supposing that quantity insufficient to render the cut straw equally palatable to the cattle, you can, if you are feeding with cake, increase the quantity by giving more powdered and less large cake; or, if meal is being used, it can be given with the straw-chaff. But when cattle are well fed on cake and turnips, I have always seen them cat straw with the greatest relish. Though a certain quantity of nutriment is derived from the straw, we apprehend its principal use is to furnish that amount of bulk in the food without which cattle cannot be fattened. The phn of pulping the roots and mixing the cut straw for twenty-four hours before feeding relieves the farmer from the difficulty Mr. Wallis sftms to have been impressed with, viz to make them eat a sufficient quantity of cut straw. After referring to the average prices of oilcake and hay, Mr Wallis said that the discon- tinuance of buy would enable the feeder to give an extra pound of cake a day to each beast, and still effect a money saving and added I hope, however, that no one has come here expecting to learn how to feed cattle without giving them a sufficient allowance of good food of some kind or other. There is no plan more extravagant than to give an animal you intend to fatten just enough to keep it in its then state, for in that case all it eats is thrown away upon it, while by a judicious increase of food it may so improve as to pay for all it eats. On the other hand, I must protest against the extravagant quantities of cake and meal that are given by some feeders, I know, amounting in some cases to 14 and 1G lbs of cake, and in one instance to 18 lbs of cake, besides turnips, meal, and hay. Now I believe it is quite impossible that so large a quantity of rich food can be properly digested, and the whole, or anything like the whole, of its nutritive properties extracted. Except for the purpose of manure, it is in a great degree wasted. I have watched my feeding beasts very closely, and, when- ever I have exceeded 8 lbs of cake and a gallon of flour, I have never perceived any corresponding benefit on the contrary, they get dainty, and leave parts of their food, and soon get loose to the hand, instead of retaining that firmness of flesh which they had previously acquired. I therefore never exceed that allowance, and am by no means sure that it is not too great a one, unless for a short period. There can be little doubt that even the smaller quantities of cake and meal used by Mr. Wallis are more than can be profitably consumed. On this point the following was written by Mr. Keary, of Norfolk :—Last spring I was giving my full-grown cattle two bushels per head per day, younger steers 11 bushel, and yearlings one bushel. It was necessary to devise some mode of economising the roots, and I began by mixing wheat straw chaff with the mangold, which was cut up small by Gardner's sheep cutter, reducing the quantity of roots fioin 2 bushels to 114 bushel, and from 11 to 1, from 1 to bushel. The stock, however, did not like the dry straw, and picked out the mangold, and did not fill themselves properly upon the reduced quantity of roots. I therefore hit upon the plan of wetting the cut straw with a weak solution of the coarse molasses (which at that time I could buy at 14s per cwt.), and then mixing up with it the finely-cut mangold, and adding also to the feeding cattle the quantity of linseed cake (also ground fine) and meal they were allowed. It answered perfectly. Upon 1 bushel of man. gold, 5 Ibs of cake, and 3 Ibs of bean meal, I fatted a great many oxen last spring, and I have no hesitation in saying that they grazed faster and did better upon one I bushel of mangold, and 1| or 2 bushels of cut straw as moistened above, than upon the 2 bushels of raw and unmixed roots I was so satisfied with what I saw last spring that it is wrong to give roots of any kind cut into large pieces and unmixed with chaff, to neat stock, that I am at present feeding 250 head as I have described substituting turnips of course now for mangold. And he adds-" I never saw cattle do better they never scoter, as neat stock frequently do at this time of the year are never hoven, and fill themselves well. Economist.
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A RATIONAL VIEW OF THINGS.—Ceremonies have their use. To view the procession of life comfortably and to ad- vantage it is necessary to stand upon some form. l'unch. CROMWELL AND LADY INGILBY. After the battle of Marslon Moor, Cromwell, returning from the pursuit of a party of the Royalists, purposed to stop at lvipley, the seat of Sir William Ingilby, and having an ofliccr in his troop a relation of Sir William's, he sent him to announce his arrival. Having sent in his name and obtained an aud- ience, he was assured by the lady that no such person should be admitted there', adding, she had force sufficient to defend herself and that house against all rebels. The officer, on his part, represented the extreme fylly of mak- ing all)' resistance, and that the safest way would be to ad- mit the General peaceably. After much persuasion the lady took the advice of her kinsman, and received Crom- well at the gate of the lodge with a pair of pistols Stock in her apron string, and having told him that she expected that neither he nor his soldiers would behave improperly, led the way to the hall, where, sitting on a sofa, jealous of his intentions, she passed the whole night. At his depar- ture in the morning, the lady observed, It was well he behaved in so peacable a manner, for that, had it been otherwise, he should not have lett the house alive." A SKETCH FKOM BRIGHTON.—You meet everybody on the cliff at Capri. The Peers and the sweet Peeresses, and the Aldennanesses and the Board of Works. Her Majes- ty's ministers in plaid shooting jackcts. bishops' wives in green uglies. gouty old generals in wide-awake hats, arch- deacons in waterproof coats, Israelitish millionnaires (very strong is the wealthy Caucasian element at Capri it dwelletli at Ilemp Town in five-storied inaiisliioiis it goeth to town in the morning, and returneth by express grand dinner parties giveth it to the tribes of Benjamin, and of Moses, and of Levi; handsome daughters with ringed fin- gers hath it, and, curiously it seems to be continually buy- ing fruit in the market), little city gents, honest florid tradesmen and their families, young dandies, used-up men, fast men, slow men, fellows of their Colleges, from Cam- bridge, in their spectacles; bloomy busy lawyers, with great shirt frills and watch chains; leaders of circuit, in very shabby trousers, with wig-powder yet on their coat collars and moving the sea for a rule to show cause why they should not force a transient flush into their pallid tired countenances.—Household Words. WHICH IS THE WEAKER SEX !—Females are called the weaker sex-but why ? If they are not strong, who is? When men must wrap themselves up in thick garments, and incase the whole in a stout overcoat to shut out the cold, women in thin silk dresses, with neck and shoulders bare, or nearly so, say they are perfectly comfortable Wfaen men wear waterproof boots over woollen hose, and incase the whole in India-rubber to keep them from freez- ing, women wear thin silk how and cloth shoes, and prc- tell not to feel the cold When men cover their heads with furs, and then complain of the severity of the wea- ther, women hang an apology for a bonnet at the back of their heads, and ride or walk about in north-east winds, professing not to suffer at all I The Rev. J. G-t was met a few years ago by a young ecclesiastic of Oxford University, accompanied by a few pupils under his care, who very jocosely exclaimed, "Sir, we have had a dispute in our school about the difference of the terms Phenomenon and Phenomena what is your opinion of the difference ? The question excited all the risible faculties of the philosopher, but, when sufficiently recovered, lie spoke as follows :— When one bright scholar puts the foolscap on, He makes himself a real Phenomenon If others join him, and like asses bray, They altogether make Phenomena."
THE BRITISH CORN TRADE. I
THE BRITISH CORN TRADE. I t (From the Marl: Lane Express Monday.) I The past week produced no reaction from the late fall in I wheat prices but, on the contrary, has continued to exhi- bit <1. downward tendency, traceable, we think, only to those rumours of peace which had gained such general cre- dence but the hope seems to diminish as facts transpire and the fall cf Kars may stimulate Russia to persist in her pr"sent course, while the Swedish alLmce will produce fresh irritation, and fan the fltilies of war. The sun- ply of wheat in several important markets has diminished, and in those localities prices have licA firm but the absence of continental inquiry has certainly had some effect; and the approach of Christmas, with unusual- ly severe weather, has made business still more limited, and until this period is turned there 'seems little prospect of a revival. Scotch and Irish statistics as to last year's cereal produce have appeared, and we trust the agricultuial intelligence and enterprise of the English agriculturist will not. he slow to acquisce in the general desire that the public be presented with a basis whereon to estimate with some decree of probability the nation's wants. Both Scot- land and Ireland show an increase in the growth of wheat, the former of 14 per cent. on last year, the latter about 81 per cerit. if, therefore, a similar ratio obtain in the coun- try, and it be admitted that the produce per acre is as much diminished, we are brought to the conclusion that at most we have barely an average crop, and the excessive produce of last year in some localities cannot be looked upon as equivalent to an average importation of foreign we began 18.51 crop early with low stocks, and finished with a late harvest. Our diminished expectations as to American supplies suggest the strictest economv in the use of all bread-sttiff-, and though the potato crop in Ireland, if in keeping order, may be equal to the wants of half the population, it seems clear tliat both the siter kingdom and ourselves wili need a very free importation of Indian corn before next harvest. The extra growth of all cereal produce in Ireland is 87,293 acres, or only 3 1-61,1, per cent more acres than the previous year but if the di- minution in the productiveness per acre be 10 per cent., which, we think probable, the balance against the total yield will be 7 per cent., which, at 4 qrs. per acre all round, would be 763,230 qrs. of corn. Last week's deliveries were rather less than the previous, viz., 112,716 at 79s. lid. The foreign imports of wheat and flour for the week ending 12th December, were 70,100 qrs. The week's supply up to Monday amounted to 8,113 qrs. English, and 10,000 foreign, about half of which was from New York and Philadelphia, the remainder from India, Egypt, and Spain, Baltic supplies having ceased, the ex- ports were 1,100 qrs. The samples from Kent and Essex were iiot numerous, but the condition was mostly iiiferior and the rumours of peace gaining ground, a very dull state of trade ensued. At the Kentish stands, where there is always the greatest inclination to sell, it was found necessary to-concede a reduction of Is. to 2s. per qr., and then the samples were not cleared. Essex factors, being less pressed for time, were content to take future chances rather than force sales, and so the bulk went over to the next market. In this state of things the foreign trade was brought to a pause, and scarcely any business was transacted. On Wednesday the supply per coast was 1,740 qrs., the foreign being 7,740. The previous day's depression then disappeared ami the prices for which good samples were held became realised, though trade was not brisk. On Friday 640 qrs. more, per coast, were reported, with an addition of 2,700 foreign. The a pprcach of Ch rrstmas then caused a very dull state of trade, and sales were scarcely so readily made as on the previous day; but there was no disposition to give way in price. Foreign through the week was quite neglected, and floating cargoes brought rather less money. Flour fiom the country was still plentifully supplied, there being; 1-5,256 sacks up, with 1,060 sack s from Leghorn, and 15,484 brls from America. The exports were only 390 sacks. Country markets coming better, there was less disposition to quit Norfolk?, and the nominal rate of the previous Monday was realised, viz., 58s. Anieri- can did not give way in consequence of the liberal arrival, but sold with less freedom. Spanish has disappeared from the market. Town-made samples were a dull sale, but un- altered. On Wednesday per coast there were 630 sacks, the foreign consisting of 4,080 barrels from Ameiica. Trade was then steady, at unwuied rates, and ,,0 it remained for every description of samples on Fiiday, when the supplies per coast were 200 sacki more, with an increase of 2,700 sacks of foreign. Barley was more plentiful, there beins 9,900 of home growth and two small cargoes from Denmark, amounting to 1,500 quarters. The morning's show of samples at the Kentish stands was greater than of late, and factors there had to submit to another reduction of 2s. per qr. even on malting samples; this grain, however, was not pressed elsewhere, and generally the quotations were little altered, though to sell a similar abatement would have been necessary. On Wednesday there arrived per coast 2,690 qrs., win n no alteration in the state of trade or vallie could be noted. On Friday there was 3,300 more English, and the market closed without any change of feature. There was a very heavy arrival of oats, viz., 52,000 qrs.: of these nearly 29,000 were Irish, and 20,000 foreign. The exports were trifling, The shortness of previous supplies did not make eager buyers, and the trade were able to sup- ply themselves from the glut, at a reduction of fully 6d. per qr. on all kinds, especially low Irish sorts. On Wednes- day, per coast, we received 850 qrs. English, with 2,430 Irish, and 13,000 foreign. There was then a moderate business done at the previous day's prices. On Friday there were 300 moie English, 1,500 more Irish, and 1,000 qrs. additional foreign; and an increased slackness in sales, without reduction in prices, closed the week. A fine sam- ple of Haarlem oats, weighing 471bs. per bushel, has ap- 47lbs. pei- bus l iel, has a p peared grown on the site of the lake of that name, lately drained. Beans were plentiful, there being 2,365 foreign, and 521 English. The trade was unusually dull, new English being 2s. worse, and old with foreign fully 1-i. dearer. The supply of peus was scanty, viz., only 200 foreign and 572 of home tirowth. English hog peas being offered plentifully from Kent and Essex were Is. cheaper but white boilers underwent no change of price. Throughout the week both these pulse have continued uncommonly difficult of sale. Of East Indian linseed there were nearly 12,000 qr., exports 2,722 qrs. This supply did not lower rates on Monday, and they continue firmly maintained. Cakes sell steadily at fall prices. In cloversced but little is passing, dealers generally seem- ing to prefer waiting for the season, rather than lay in stock at high rates. White mustard keeps its value, as well as hempseed, rapesecd, and seeds of all kinds. The country markets were taken somewhat aback by the dull reports from London respecting wheat, and li,,ine been but little influenced by them. Liverpool, on Tuesday, was firm for all wheat, and eveh rather dearer for samples of white. Hull, with moderate supplies, noted only Is. de- cline on inferior qualities. At Birmingham the show of samples was less, and readily cleared at former rates. So it was at Leeds, Spalding, and Boston. At Ipswich, with a small supply) no change was noted. Gainsborough, Ux- bridge, Newbury, Bishop Stortford, Melton Mowbray, and Newark, with good arrivals, maintained lormer rates. Manchester unaltered. There was only a slight inclination downwards at Alford, Lynn, Lewes, Louth, and Wakefield. Bristol was Is. cheaper. Liverpool, on Friday, could only make way by conced- Id. to 2d. per 70 lbs. on wheat. Indian corn found fair inquiry at 6d. to Is. lower price. Yellow, 44s. 6d., white 55s. per 480 lbs. Barley at most places has been quoted Is. lower. Beans and peas in some instances found an equal reduction and oats were again rather cheaper, the sale of all spring corn being slow. In the west of Scotland there has been a more positive decline, the successive reductions in the south having pro- duced it. At Glasgow there was only a retail business in wheat, at 6d. to Is. per boll less money. Flour was also Is. per sack, beans and oats 6d. per boll, oatmeal Is per ioad, and barley 6d. to Is. per boll cheaper. At Leith, on the contrary, there was a moderate business in wheat and spring corn, with very little difference in prices. Ireland has given way but little. Belfast reports mode- rate arrivals, and no change of rates. At Dublin, with a small supply, wheat and other grain showed a tendency to decline. At Cork trade was heavy for everything; at Waterford, barley was Is. per brl., and oats 3d. to 9d. per brl. lower. Indian corn brisk at 6J. less money.
FOREIGN CORN TRADE.
FOREIGN CORN TRADE. The Palis flour market this week has shown little altera- tion, the first marks bring quoted 106f. 50c. per sack for immediate delivery, sales having been made at 50c. less, and buyers only offer 105f. 50c. extra qualities are, how- ever, still quoted 107f. to 1091'. Fine wheat has found ra- ther an improved sale at 57f. 50c. to 58f. 50e. per 118 to 120 ltilos. low qualities were difficult to quit. Fine rye is held firmly at 39f. to 40f.; inferior, 3Sf. to 38f. 50c. per 115 kilos. Champagne barley brings 201. 50c. De Beauce, 27f. to 27f. 5)c. The general reports of the country mar- kets as to wheat have been downwards, from 33c. to 3f. per 1? hect., the greatest decline beio? at Lille. Heavy Ameri- can arrivals continue at Havre, where there is a calm and' falling price. Common American lfour brings 48f. 50c. per barrel of 88 kilos. The trade is very heavy also at Mar- seilles. African wheat, 51f. 50e. per 1GO litres red Egyp- tian, 40f. 50e., weighing 118 to 121 kilos. Flour was diffi- cult to quote, At Santander some little improvement in the value of flour is reported. Parcels ready for delivery have been placed at 56f. 75o. per 100 kilos. or 89f. per 159 kilos. se- cond qualities were also in request at 49f. 25c. to 51f. per 100 kilos. Within four days several shipments were made to England, At Riga, on the 1st (13th) inst., there were 14 degs. of frost. The sledge road was fair. Little was doing in sowing liiseed prices 6] to 7-V S. It. per brl. Nothing pasting in crushing sorts. Hempseed 3.10 S. R. per brl. The corn trade was dull. The yield of wheat and rye at this place and at St. Petersburg was reported below an average. The exportation of grain from Stockholm during the month of November was about 30,000 qrs., and the total since May last, 170,000 qrs. of all sort of grain. Trade, by the last advices, was confined to the local demand. Wheat a little lower, viz., 28f. to 32f. 75c. per hect. rye, 21f. to 21f. 50c. barley rather cheaper, for spring delivery 14f. per hect. Berlin advices noted a fall of snow, which stops the transit of grain. The markets were heavy there, as well as at Stettin. At Konigsberg the supplies of rye were insufficient for daily wants, and the firtt arrival of Danish had appeared. Some more was expected from Stockholm by steam. No- thing was passing in Wheat. The fall of snow at Stralsund was a cause of satisfac- tion, it Ferving to piotcct the seed sown. Receipts, espe- ciallyof rye, were very scanty. All the Belgian and Dutch maikets describe a heavy state of trade and declining prices. Zurich describes a fur ther fall in wheat of If. 12c. per li hect. At Trieste, in consequence of the falling off of orders, both wheat and maize were rather cheaper. Malting bar- ley, however, and linseed were in request. Transactions in grain both at Galatz and Odessa are at a perfect stand still. The last New York advices report large arrivals and shipments, the former in excess, and prices of flour con- sequently 12c. per urI. lower. The drawing off the water from the Erie Canal was prolonged to the 10th inst. to give chance to the supplies forthcoming. Common brands 9d. 25c. per brl., extra Ðd. 3"ic. to 9d. 44c., Canadian, 9d. 37Jc. to 10,1, 50c. Southern sorts dull, 9d. 44c. to 9tf. 62 £ c.; the export of wheat flour, from 1st to 30th November was 221,373 barrels. Wheat was 5c. to 7c. per bushel less money. Prices had rather declined at Boston, but were firm at Philadelphia and Baltimore. At Chicago quotations were lower. Flour 32s. per brl., spring wheat 51s. 61. per qr., winter red 55s., white GIs., rye 30s., oats 9s. 9d. per 2561bs, The expectation was that prices would be easier in winter. Storage only Is. 6J. per quarter, with accommodation for 300,000 to -100,000 quarters. In Francisco prices were falling, in consequence of more favourable accounts from Australia, where there was a great decilne. The Prussian Government has published the result of its investigation as respects the last liairvest, and taking the average at the ratio of 10, find the rela'ive yield as fol- loivs -Wheat 61, rjre GG, peas 67, barley 15, oats 98, po- tatoes 61. The summary makes the total cereal crop little over three-fourths of an average.
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MMH. GOLDSCHMIDT 1:1 NN. — It is stated that Mr Mitchell gives Mdme. Goldschmidt Lind the enormolls sum of C500 sterling for each concert in which she sings in thE; series of concerts he is nOlv giving in London. Th" money seems immense, but the receipts are proportionablv areat. Mdme. Goldschmidt is also likely to sing in the English provinces, under an arrangement with Mr. Mitchrll. Galignani. TiiE PLACARD BIBLE. — We learn from the British Banner that a proposal has been set on foot for posting placards all over the City containing passages from the Bible, printed in the largest characters, so as to arrest attention. Erch placard to contain only one verse. and sometimes only one sentence; and to Le renewed as fre- quently as the funds will permit. ECCLESIASTICAL INTELLIGENCE.—The following pre- ferments and appointments have been recently made ftectories the Rev. W. Carter, to the rectory of Slingsby, Yorkshire, the Itcv. F. Hopwood, to the rectory of Win- wick, Lancashire. Curacies, &c the Rc". H. De Fi e Baker, to the curacy of Glooston, near Market Harborough the Rev. Drowning, to the curacy of Tinwell, near Stamford the Rc-v. C. II, Burnham, to l,it curacy of Bozeat-with-Strexton, near Wellinborough the ltrv, N. Challis, to the assistant curacy of Christ Church, Leicester the Rev. W. L. Clay, to the curacy of Brixworth, near Northampton the Rev. G. P. Cordeaux, to the incumbency of St. Leonard, Ne w Malton the Rev. G. Crabbe, jun., to be domestic chaplain to the Right Hon. Lord Walsing- ham the Rev. H. B. Foster, to be rural dean of the Deanery of Cirencester the Rev. R. J. Haynes, to the curacy of Scalford, near Melton Mowbray the Rev. J. Hunt, to the curacy of Deptford, Sunderland; the Rev. J. Lee, to the curacy of St. Hilda, South Shields the Rev. A. C. Luard, to the curacy of Witton-le-Wear, Durham the Rev. C. A. Manby, to the curacy of Bisbrook, near Uppingham the Rev. W. Marriner, to the curacy of Castle Eden, Durham the Rev. It Matson, to the pastoral charge of Tortola and the Virginia Islands the Rev. J. Barr, to the curacy of Badby with Newnham, near Daven- Iry; the Rev. A. A. Phillpotts, to the curacy of Boldon, Durham the Rev. W. Rayson, to the curacy of St. Mar- garet's, Leicester; the Rev, E. ill. Reynolds, to the curacy of Holy Trinity, Stockton-on-Tees; the Rev. J. S. Side- bottom, to the curacy of Canon's Ashby, near Towcaster the Rev. W. S. Trotman, to the curacy of East Haddon, near Northampton. TDIELY REBUKE OF LUXURY AND EXTRAVAGANCE.— In an article entitled" Charitable Duties of the Coming Winter,"pubtished in this journal, the Messanger de la ('earltie, M l'Abbe Mull ois, private chaplain to the French Empress, exposes with his usual keen and lively satire the excess of luxury which is now the prevailing fashion in France: Truly," lie says, "it is time to bridle this excess of luxury it is time the upper classes reflected upon the envy and indignation they are exciting. Nevertheless associations in France are formed for moralising the poor, the working classes—everybody, except ourselves Why are there none formed to check the extravagance of luxury. It is not without the deepest conviction I assert that the evil is greater than anywhere else. A man of infinite intelli- gence, seeing a party of young men of our rich families pass by to the Bois de Boulogne with noisy show, exclaim- ed—' There go the greatest promoters of Socialism in all France.' I fear he spoke too truly; and it would be a work worthy of certain mernbers of the priesthood to form an association to introduce a little moderation in the luxury of dress, of the table, of furniture. That of dress prevails everywhere—in small towns, in large towns, in the country —and devours everything, occupying the heads of women and of rr,en alike. It is a subject upon which women dream without ceasing, by day as well as night. And do not imagine that France and her eighty-six departments, or Algeria to boot, can satisfy the exigencies of their toilettes They must go to England for their laces, to America for their furs, to Asia for their cacltemeres-these ladies may finish the catalogue, they know it better than I do. And when we ask them—'Charity, if you please, for the poor,' they give grudgingly, whispering to themselves, On detnande tot/Jours Their very children are smothered in laces and embroideries, converted into very dolls. They are swaddled until seven or eight years old their little limbs, so in need of motion, are imprisoned, and they are perpetually reminded whenever they move-Take care, you will dirty yourselves you will spoil your clothes instead of being clad as children ought to ge, in a sack, and being told to Go, run I do not accuse Paris only; the same feature prevail in the provinces. As to the table, it is no longer merely well supplied it groans under the most exquisite viands, wines, and liqueurs. And there are people in want of bread What can be said of the luxury of furniture ? The salons and bedrooms are no longer furnished—they are crammed like a bazaar. And there are whole families sleeping on straw The Abbe draws a striking picture of the ruin of families by these excesses. The mothers and daughters immersed in debt, on their side the husband deep in his own dissipations, and having recourse to the Bourse speculation to redeem himself: See to what a termination excess of luxury is leading us For, strange to say, by the effect of sub- division, our large fortunes are in constant process of diminution; les ellaleallx s'en vont, it is said half a cen- tury more and there will be none remaining. And yet, at the same time, with all that, the taste for luxury increases! The result must inevitably be ruin and misery. "-P(tris Correspondent of London Guardian.
RAIL WAY SHARES.
RAIL WAY SHARES. Wednesday Evening. The Railway Share Market is particularly inactive, and some of the principal lines are at nominal quotations. Aberdeen, 22|. Eastern Counties, 9 to 9A. Great Western, 53 to 521. London and Blackwall, 6J. London and North Western, 91. Midland, 64 to 631. South Eastern, 57i to 57. The quotations yive tlte actual price, without reference to premium or discount, and amount paid up. Share. Paid. Names of Lines. Tues. Wed. 50 50 I.berùeen. 23 23 20 20 ibirniinghaiii and Oxford June. Stock 92 I Bristol and Exeter. 81 81 Stock 100 Buckinghamshire Stock 50 Caledonian ook 551 50 50 Chester and Holybead 12 12 50 45 Dublin and Belfast Junction 4& 4i Stock 20 Eastern Counties 94 9g Stock 100 East Lancashire. 70 70 Stock 100 East Lincolnshire, 6 per cent. Stock 50 Edinburgh and Glasgow 5H- 511,1 Stock 100 Great Northern S8 £ 88 100 100 Great North of England. 100 100 Great Western 53 53 50 50 Hull and Selby 50 50 Lancashire and Carlisle 75 75 100 98 Lancashire and Yorkshire 7H 77i 50 all Leeds Northern — — III 11J I London and Blackwall 6 6a Stock 100 London, Brighton, and S. Coast 96 96 l-i 12 £ London and Greenwich — Stock 100 London and North-Western •. 94i 94l Stock 100 London and South-Western 86 | 86 Stock 100 Mid]and 64! 64j 20 100 Ditto Birmingham and Derby.. 38 38 Stock 100 Ditto Bristol and Birm. 6 per et. Stock 100 Norfolk 43 43 Stock 100 ,Nortli British 294 29J 20 Id. North Staffordshire 8k 88 20 50 Oxfd., Worcester, and Wolver.. 24 50 100 cottishCentral. 103 103 Stock 50 South Devon. 12 12 50 100 South Eastern 58 58 Stock 50 South Wales. 324 32! Stock 100 Tuff Vale — 1 — 20 all ValeofNeath. 194 2 50 100 York, Newcastle, and Berwick Stock 20 York and Newcastle Extension — 25 100 York and North Midland — j — 25 16 Northern of France 35J 251 20 10 IParis and Lyons. 454 45 20 20 Paris and Rouen — 52 20 20 Rouen and Havre. 2H MONEY MARKET AND CITY INTELLIGENCE. Wednesday Evening. The English Stock Market has become very heavy, and Consols arc as low as 882 1 to 8S. The New 3 per Cents, are 89 to 89g, and the Reduced Annuities, 88& 88g. PRICES OF THE FUNDS AT FOUR O'CLOCK EACH DAY. Th Fri. Sat. 'Mon Tue I Wed Bank Stock 205 20 J— 1- 3 per Cent. Reduced j89 88? 88 i89 \— ,88? 3 per Cent. Consols .— •— — !— ?— India Bonds. 8 ?3 '— — !— — Ne%v 3 per Cent. Ann 89 89 89 89!¡- 88a Bank Long Annuities ""134 '3? — 31 — ?.? India Stock !— j— !— I- !— |— Exchequer Bills ,.|3 t3 ,8 ?3 !— i?-2
CARMARTHEN CORN RETURNS.
CARMARTHEN CORN RETURNS. WEEK ENDING, DECEMBER 22, 1855. Total Quantities. Wheat, 63 quarters, 2 bushels barley, 49 quarters, 4 bushels oats, 854 quarters. 4 bushels. Areraqeper Quarter.—Wheat, 74s. 4d.; barley, 42s. 3d. oats, 25s. 9d. CARMARTHEN.—Beef, (per lb.) 5ld. to lOd Mutton, 5211 to 7.id. Veal, 5d. to 8d. per lb. Freah butter, (24 oz. Is. Sd. Salt, 11 id. to llid.; Chickens, 2s. 4d. per couple; eggs 7 for 6d. cheese 30s. to 31s. per cwt. Potatoes, 7 to 81b. for 6d. Household Bread, 9d. the 41b,. Loaf. LONDON MARKETS, MONDAY, DECEMBER 24. had but a short supply of English Wheat this mornint; the market, however, was of so perfectly a holidy character that very little business passed in any article. A small portion of the English Wheat was selected at about last Monday's- prices. In foreign no business was done, nor did we hear of any transaction* in barrel Flour. Barley met a dull sale, at barely last week's prices. Beans are a heavy sale, and new were 2s. per qr. cheaper. In Peas we note no alteration. The Oat trade ruled especially dull, and where it was necessary to clear vessels to avoid demurrage, rather less money was sub- mitted to. AVERAGE PRICE OF SIX WEEKS. Week ending Dec. 15. —Imperial—General Weekly Average.—Wheat, 79s. 1 Id. Barley, 41s. 3d.; Oats, 27s. lOd.; Rye, 55s, 4d. Beans, 51s. 8d. Peas, 49s. Id. LONDON AVERAGES. £ s. d. I £ s. d. Wheat 6939qrs. 2 4 1 2 5 4 I Beans 433 2 9 9 Barley. 475S 2 1 5 Beans.433 299 Oats .?029 178 Peas 589 2 14 1 PRICES OF BUTTER, CHEESE HAMS, &c. Butter, per cwt. s. s Cheese, per cwt. s. < Friesland 1 lOtol 18; Cheshire 70 84 Kiel 100 120 Double Gloucester 66 72 Vorse. 110 120; Single do. 60 70 Wateifotd. 98 10:21 Hams York OQ 108 Cork. 100 112 Irish 90 98 Limerick 98 102 Bacon. 70 72 Sligo. 94 108 Green 60 64 BARK AND OTHER TANNING MATERIALS. Per load of 45 cwt. English, Tree £ 13 10 0 to £ 15 10 0 Coppice Xi4 0 0 £ 16 0 0 Mimosa. per ton 112 0 0 E 14 0 0 Valonia and Smyrna.. £ 15 0 0 £ 17 0 0 BREAD.—The prices of Wheaten Bread in the Metropolis are from lid. to ll!d.; of Household do., 9d. to 10id. per 4 lbs. loaf. liops.-Our market continues tolerably active for this period of the year, and there is a fair demand for all Hops of good quality. Fine and choice samples being scarce, bring rather more money, and the general currency of last week is fully maintained. FLAX, HEMP, COIR, &c.-The transactions in Flax have been very moderate, at previous quotations. Hemp is steady, at C43 to £ 43 10s. per ton for Petersburgh clean. East India qualities are a slow sale. The best Coir goods are firm. In other articles very little is doing. TALLOW.—Since Monday last our market has been very inactive, and prices have been with difficulty supported. To-day the demand is heavy at 68s. per cwt. for P.Y.C. on the spot. Town Tallow, 64s. 6d. nett cash. Rough Fat, 3s. 7d. per 81bs. PROVISION.—The arrivals last week from Ireland were 7,310 firkins Butter, and 2,163 bales Bacon from Foreign ports 6,946 casks Butter. In the Irish Butter market there was a better feeling towards the end of last week, and a fair amount of business was transacted at full prices, holders being very firm. In foreign no change to notice. The Bacon market ruled firm, and in some instances an advance of Is. per cwt. was obtained. BOROUGH AND SPITALFIELDS.—MONDAY, DEC. 21. Coastwise and by land-carriage the arrivals of Potatoes since Monday last have been but moderate. The demand is inactive, as follows:—York Regents, 100s. to 110s.; Kent and Essex ditto, 90s. to 100s7; Scotch ditto, 80s. to 90s.; ditto cups, 80s. to 90s. middlings, 55s. to 65s.; Blues, 80s. to 90s. Lincolm, 80s. to 90s. per ton. ISLINGTON.—There was a very limited supply of foreign stock in to day's market, and its general quality was in- ferior. The arrivals from Ireland last week, direct by sea, were 40 beasts and 120 pigs. The show of Irish stock this morning was confined to 20 beasts and 120 sheep, via Liver- pool. Nearly the whole of the supply of beasts in to-day's market was the refuse of last week, the fresh arrivals being only 70 from Scotland, 400 from the northern and eastern districts. As there was scarcely any butchers in attendance, the beef trade was excessively heavy, and prices were nominally 4d. per 81bs. lower than on Monday last. We were very scantily supplied with sheep, which met a very dull sale at about last week's currency. In some breeds not a single transaction took place. The few calves in the market commanded no alteration, and prices were nominal. There was no demand for pigs. Per 81bs. to sink the offal.-Coarse and inferior beasts 3s. 4d. to 3s. 6d. second quality do. 3s. 8d. to 4s. Od. prime large oxen 4s. 2d. to 4s. 6d. prime Scots, &c. 4s. 8d. to 4s. lOd. coarse and inferior sheep, 3s. 4d. 3s. 6d. second quality do. 3s. 8d. to 4s. 2d. prime coarse woolled sheep, 4s. 4d. to 4s. 6d. prime South Downs 4s. 81. to 5s. Od., Lambs, 0s. Od. to Os. Od., large coarse calves, 4s. Od. to 4s. 6d. prime smaH ditto, 4s. 8d. to 5s. Od. large hogs, 3s. 10d. to 4. 4d. neat small porkers, 4. 6d. to 5s. Od. Beasts, 1158, Sheep, 5,750, Calves, 4 Pigs, 150. HIDE AND SKIN MARKETS. s. d. s. d. Market Hides, 56 to 64 Ibs. 0 3i to 0 0 per lb. Do. 64 72 lbs 0 3J 0 4. Do. 72 80 lbs 0 4 041 Do. 80 88 lbs 0 4j O441 Do. 88 96 lbs 041 5 0 Horse Hides.. 6 6 0 0 eacli Calf Skins, light 2 0 ;3 0 Dc w ns 210 34 Lambs 29 46 METALS. X-. s. d., f. s. d ENGLISH IRON. j Refined 6 11 0 Bars at Cardif fand 'Grain 0 0 0 Newport. 8 5 0 Fine Grain 0 0 0 Rails (Wales) 8 0 ()'Ditto bars 0 0 0 Staffordshire 11 0 0 Do. granulated ..000 FOREIGN STEEL. FOREIGN TIN. Swedish keg. 19 10 0 Banca, in bond 6 7 0 Do. Faggot. 0 0 0 Straits 6 0 0 JENGLISH COPPER. TIS PLATES. Sheets, sheathing IIC Charcoal per box 114 0 and bolts per lb. 012?? .200 Tough cake 126 0 00 IC Cokeperbox 1 8 6 Ti)e. 126 0 0 IX dQ 115 6 Old copper per 0 0 0?! IX do 115 6 Old copper per 2INC. pound 0 0 0 In Sbeets. 30 0 0 ENGLISH LEAD. 0 o! FOltIGN IRON. a. Pigp?r.27 0 0 ro?u?. Sheet.. 27 0 0 Swedish 15 10 0 ENGLISH TIN. RussianCCND.. 17 0 0 Block per cwt 6 6 0 Ind. Ch. Pigs ill 6 0 0 Bar 6 7 0 London 6 0 0
WEEKLY CALENDAR.
WEEKLY CALENDAR. THE MOON'S CHA.;GES,-Last quarter, Dec. 31st, at 4m. past noon. HIGH WATER AT THE FOLLOWING PLA.CES FOR THE ENSUING WEEK. Carmar- Cardigan Tenby [Alier yst- DAYS. then Bar. and and with Llanelly. Bristol. Milford. j H. M. II. M. 11. M. H. M. Saturday, Dec.29 9 44 1O 34 9 19 P 4 Sunday, .3010 22 11 112 9 57 i "1 42 Monday.3111 4 11 54 10 39 12 21 Tuesday 1 11 53 12 43 11 28 1 13 Wednesday 212 53 1 43 12 28 2 13 Thursday 3 1 53 2 43 1 IS 3 13 Friday 4 2 58 3 48 2 33 4 18
I LONDON GAZSXIE
I LONDON GAZSXIE BANKRUPTS.—(Friday, Bee. 21.)- W. B. Bevan, wine merchant, Mark Lane.—II. Kelly, builder, Arthur-street, New Oxford-street.—J. Joyce, baker, Bromley. S. H. Romford, livery stable keeper, Lewisham. J. Hughes, maltster, Shrewsbury.—T. Morris, straw hat manufacturer, Hoxton New Town.—D. Gardner, pump maker, Banbury, Oxfordsliite.-It. Longford, hotel and lodging house keeper, Bath.-W. Wiffin and F. W. King, card makers, Long Acre.-T. W. Nicholson, oil and flock merchant, Rookery, Halifax.—G. Kay, boot and shoemaker, York.—L. G. F. Manks and J. Linley, joiners and wheelwrights, Horsforth, York.-T. Heywood and J. Heywood, lace warehousemen, Wood-street. Cheapside.— W. Thomas, painter, Bridgend, Glamorganshire.—J. Maden, cotton spinner, Brandwood Mill, Bacup.—L. Horsfall, tailor, Accrington.—S. Andrew, jun., spinner, lioyton, Lancaster. BANKRUPTS.— (Wednesday, December 26J—G. Hasse, merchant, Railway-place, Fenchurch-street.—J. Woodroffe, licensed victualler, Leather-lane.—J. T. Murray, piano- forte maker, Lower James. street, Golden-square.-J. H. Wettone, bookseller, Oxford-street.—C. Sharp, wholesale ironmonger, Albion-road East, Stoke Newington.—T. and J. Heywood, lace warehousemen, Wood-street, Cheapside, and Melbourne, New South Wales.—T. H. Ryland, wood turner, Birmingham.—T. Spray, lace manufacturer, Lenton, Not- tinghamshire.—P. Farrell, contractor, Salford.—J. New- some, woollen manufacturer, Dewsbury.—J. W. Gregory, grocer, Halifax.—J. Pattinson, builder, Bishop Wearmouth. J, Richardson, jun., brewer, Cockermouth.