1805. ] Monthly Commercial Report. 199 
offered to make the remittance at 45 cents. It was undertaken by Mr. Alexander Baring 
at 41 cents, on condition, that he fhould be paid by the government in its 2,200 thares of 
the United States Bank-ftock, at the rate of 575 dollars per fhare. It is faid that he will 
have a clear gain of 40,0001. fterling by the tranfaétion.—It is certain that the Spaniards, 
in preparation for the ceflion of Louifiana to France, have fhut the port of Orleans, and by 
confequence, in fome manner, the whole navigation of the Miffiiippi againft the commer- 
cial fhipping of the United States. New Orleans was, to the Anglo-Americans, by treaty, a 
free port. They are now required to pay 6 per cent. upon the goods which they thall there 
Jand, to be referved in warehoufes for fale, to pay another duty of 6 per cent, when the fame 
goods fhall be re-thipped, and to re-export them from New Orleans to none but other ports 
belonging to Spain. By thefe new regulations of the Spaniards, that which is called the 
Wettern territory is in fat excluded from any profitable exportafion of its produce. The 
indignation of all America has been ftrongly excited againft a meafure fo hoftile. Remon- 
ftrances have been made againft itto the Spanith government; and we fhould not be greatly ° 
furprized if it were, in the end, to occafion a ferious contention between France and the 
United States. The trade from the American ports to thofe of St. Domingo is, at prefent, 
dangerous, but profitable. Rochambeau has found it prudent to allow foreigners, for the 
prefent, to introduce all forts of dry-goods into that ile, under an importation-duty of 20 
percent. Between the years 1796 and 1803, the ifland of Demerara, while in the hands 
of the Englith, has gained extraordinary additions oi wealth. Not fewer than 50,000 ne- 
groes were, within that period, imported into it. 
The Bank of England is again to be reftricted for a term, to extend till the end of fix weeks 
after the mecting of the next feflion of Parliament, from making payments in gold and filver. 
Government will undoubtedly obtain accommodations in confequenee of this meafure, which 
it could not have gained if the reftriction had not been renewed. ‘But the folvency of the 
Bank is unqueftionable ; and there is, on the whole, both commercial and political prudence 
in the renewal of the delay. The bill has paffed through both Houfes of Parliament; and 
will fpeedily receive from his Majefty’s affent, the full force of an Act. It has appeared, in 
the courfe of the debates on this fubject, in the two Houfes of Parliament; that the average 
balance of trade in favour of England was, before the war, ten millions annually ; that 
during thefe laft ten years, there was an extraordinary exportation of money from Great 
Britain to the total amount of 120 millions; or, one year with another, 10 millions a-year; 
and that the exchange with Hamburgh, has but lately come to par in our favour, while with 
Am(iterdam the courle of exchange is ftill againft us. 
Amount of Bank of England notes of 51. each and upwards, including Bank poft-bills, 
payable feven days after fight: 
On the ift of June, 1802 .... 13,257,600 Onthe ift of Dec. 1802 .-.. 12,075,020 
ift of Aug. 1802 .... 14,386,640 ift of Feb: .1803-.-.. 12,874,030. 
IG OL OLE iGOn! We 2 eT 10 
Amount of Bank of England notes of 21. and 11. each: 
On the ift of June, 1802 .... 3,013,610 Onthe 1ft of Dec. 1802 -... 3,236,530 
ift of Aug. Tire} § VAR Tee AS ASI G) Aft, of Feb. 1803 2.2% 359345530 
Wi et Oct. | 1602") 24 3;435,130 
The filk-manufacturers in London, fenfibly feeling the advantages of rivalfhip, which the 
French now begin to acquire again{t them, are preparing to petition Parliament tor a repeal 
of certain of the duties on the importation of raw-filk, and for a prohibition of the importa- 
tion of India filk-handkerchiefs, under the fame advantages as at prefent. , 
Under a fimilar concern for the danger of their induftry and trade, from the formidable ri- 
valfhip on the Continent, as well as from the circumfance, that the raw material isthe growth 
chiefly of foreign colonies; the cotton manufacturers of Glafgow are preparing to petition 
Parliament for an abolition of the import-duties on raw cotton ; 54,000,000 pounds of cot- 
ton-wool wereimported into Great Britain in 1802; 30,060 tons of fhipping, and 2000 fea- 
men are conftantly employed in importing the wool, aud.exporting the manufactures into 
which it is here wrought : 800,000 perfons are conftantly employed in Great Britain in the 
cotton manufactures: their wages amount to £.13,000,000 a-year. The French now buy 
the raw material cheaper than we, and can, at lefs expence, make it into yarn, as good as that 
which we {pin. Upon thefe and other according facts, the geatlemen in the cotton-trade 
are in hopes that Government may be induced to favour their application to Parliament for 
an entire abolition of the import duty on cotton-wool. 
The fociety of fhip-owners of Great Britain have obtained inconteftible evidence, that the 
bufinefs of fhip-building has been of late in the mo{t alarming decline, in the ports of this 
country. In the port of London, fince the 5th of October 1801, only two thips have been 
built for the merchant fervice; the Pacific, of 307 tons, and another of 600 tons. Even 
for the India trade, none have been contracted for fince October 5, 1801, The value of 
fhips on fale, has, within the fame period, declined not lefs than five pounds per cent. Itis 
for Parliament to confider, whether in thefe circumftances of the {hipping-intereft, it would. 
not be ruinous to the State, to perfiftin levying the tonnage-duty. 
Stocks have been lately rifmg, and are expected to rife much more within the next two 
months. The 3 per cents now fluctuate between 72 and 72. 
MONTHLY 
