In especially within the last few years, that they now amount to above 2,500,000 quarters! Indeed, we have no hesitation in saying, that if any thing like tranquillity and good order were introduced into Ireland, a very slight degree of improvement in her agriculture would occasion such an increased production of corn, that we should, at no distant period, be quite independent of foreign supplies, and would most probably export to Amsterdam. The price of iron does not at present exceed a third part of its price in 1824 and 1825; but instead of wondering at this fall, the only real ground for surprise is, that it has not been greater. The iron made in Great Britain in 1820 is supposed to have amounted to 400,000 tons; but in consequence of the adventitious excitement of 1824 and 1825, iron works were so much multiplied, that the quantity produced in 1827 was increased to 690,000 tons 1828 the production was still greater, and it has not been materially diminished since. Unluckily, however, the demand has not increased in any thing like the same proportion. The greater number of the rail road projects afloat in 1825 have been either wholly abandoned, or deferred to some future period; so that the immense additional supplies not meeting with any new outlets, have glutted the market to an extent never previously known. The fall in the price of lead has also been very considerable. It is not confined to England, but is felt every where; and is admitted to be entirely owing to the extraordinary productiveness of the mines of that metal that are now wrought in Andalusia. The fall in the price of wool is completely accounted for by the extraordinary increase of merino sheep in Germany, where they succeed better than in Spain; and by the growing imports from New Holland. During the war, our imports of wool from the former were absolutely nothing, whereas they now exceed the enormous amount of 26,000,000 lbs.; from New Holland and Van Dieman's Land the imports already exceed 2,000,000 lbs.; and it is impossible to imagine the extent to which they may, and most probably will, be increased. The fall in the price of pepper, and other eastern commodities, is unquestionably owing to the opening of the trade with India in 1814; and to the influence of that free competition, that was then, for the first time, introduced into Indian commerce. Every one knows that the fall in the price of sugar, and other colonial products, is the result of the abolition of the old colonial monopolies of Spain and Portugal, and of the unprecedented extension of cultivation in Brazil, Cuba, Louisiana, Demerara, the Mauritius, &c. In short, we deny that it is possible to specify a single commodity that has declined in price since 1814, the fall of which may not be clearly traced to circumstances altogether independent of a rise in the value of money. Nothing, of course, but conjecture can be indulged in as to the future productiveness of the mines. We should think, however, that a very considerable increase may be fairly anticipated. Anarchy is beginning to cease throughout Spanish America; in some provinces the foundations of good order seem to be already laid; and the working of the mines has been resumed with greater ardor. It will be much for the advantage of this and other countries that their produce should attain to its old amount; for the widest experience attests the soundness of Hume's opinion as to the beneficial influence of an increasing supply of gold and silver. In concluding these remarks, we beg again to recommend Mr. Jacob's enquiries to the attention of all who are desirous of information on the subjects, alike curious and important, which they embrace. Though unable to agree with him in all his conclusions, we have been much pleased with the liberal and candid spirit in which his investigations have been conducted. His work was undertaken, as we learn from the preface, at the suggestion of the late Mr. Huskisson-a suggestion which must be allowed to be creditable alike to the statesman who made it, and to the person to whom it was addressed; and we may add, that it is but seldom a difficult task, undertaken upon the recommendation of another, has been so well executed. FLUCTUATIONS OF THE FUNDS. ENGLAND AND FRANCE. Prices of the leading Stocks on the 1st of January, 1848 and 1849, and their highest and lowest prices during 1848. In 1847 the range of fluctuation in Consols was full 15 per cent., being greater than had been known for 18 years, while it also considerably exceeded the range during the respective years of the declaration of war against Great Britain by the French Convention, the first bank suspension, 1797, the Irish rebellion, and the battle of Waterloo. During the year 1848 it has been 10 per cent., namely, from 90 to 80, which is quite equal to what on the average took place on those occasions. [London Times, January 1, 1849.] 号 EXCHANGE BETWEEN ENGLAND AND THE UNITED STATES. A Table showing the Rate of Exchange on England, at New York, for the first packet of each month, from January, 1822, to December, 1845. (The prices quoted are in each instance the rate charged for A 1 Bills. Good but not well-known Bills usually could have been bought for a fraction less.) |