There is a partial improvement in the Money-market. Mr. SPRING
RICE, after much urging, has raised the interest on Ex- chequer Bills to 21d.per diem, and those securities are now at a small premium. The price of wheat is lower than it was ten days ago; not in consequence of any favourable news as to the crops abroad, or the yield of British corn, but because it was forced up more rapidly than even the disastrous circumstances affecting the market justi- fied. There is no prospect, however, of its declining to a price which will give us bread at a moderate cost ; and the consequence must be, suffering and discontent of a formidable character in the large towns and manufacturing districts. We observe that trade is generally slack. This is always the case more or less at this season of the year ; but it is an ugly feature in our present pros- pects, that the orders from abroad are likely to be smaller than usual next spring, owing to financial difficulties and the bad har- vests. The number of persons dependent for subsistence on ma- nufacturing labour has in the mean while been augmented. In such a state of things, and with so much cause for anxiety as to the future, it is almost as a matter of course that the repeal of the Corn-laws is again agitated, in Glasgow, Leeds, and Shef- field. We perceive by the popular newspapers published in these places, that the means of relieving the existing pressure are very well understood; and we may rely on it that an attempt will be made to use them. The Glasgow Argus recommends as a precaution, that the ports should be opened without delay for foreign corn. Such a step might certainly be taken now with little loss to the holders of corn ; for everywhere the price of wheat is much higher than it was. It might perhaps, too, have the effect of staving off for some time the entire abolition of the Corn-laws, which our landholders and lawmakers deem so bene- ficial to their interests. In this view of the question, the advice of our Northern contemporary is hardly politic, though dictated by humane feelings. Let the screw be turned a little harder, and the whole fabric of the Corn-laws may be demolished.
