From various statements in the provincial newspapers, and in the
City articles of London journals, it appears that there is a general stagnation of trade. Even the Morning Chronicle, though boasting in its "leaders " of the "excellent domestic Prospects" of the country, is compelled to record the fact of" dul- ness of trade in the manufacturing districts." At the same time, money is very plentiful: the need is of profitable employment for capital. The chief cause of the present distress is the failure of npi?ng orders from the United States. The Americans have not ready means of purchase, and English merchants and manufac- turers insist upon the old debt being reduced before a new account is commenced. This seems the only safe mode of proceeding, and one which will ultimately restore the commerce of the two countries to health. But the period for patient endurance is not yet over. The "inconveniences," that Mr. SPRING Rica and the Chronicle gabbled about, must be undergone for a longer time than either of these great authorities can be allowed to fix. The revenue, in the mean while, must suffer. It would be unjust and absurd to charge upon Ministers the existing emb. 'is of the commercial world; but, at the same time, the
organs must not be permitted to assume, on behalf . credit for prosperity and "excellent prospects," winch are imaginary.
