James Maury to James Madison, 19 June 1829
Liverpool 19 June 1829
Dear Sir,
I am much obliged by your kind attention to the affair of my antient correspondent Mr John Walker, and have ordered the Money to be paid to his son, which enables me to remove from my old books a balance that had so long been an Eye-sore.
Of late years I notice every now & then a similarity of weather in the two countries at the same seasons of the year; and so it appears to have been the late winter and Spring. At this juncture the crops of wheat promise well. I inclose a circular of M. L. & Co with a correspondence about Tobaccoe between Mr Huskisson and the Chancellor of the Exchequer, to which is added in M. S. some remarks of my son William. I still stick to the opinion that your prices at home will generally give you a better nett proceed than a Sale in Liverpool.
’Tis indeed with sorrowful regret I no longer can return my accustomed acknowledgements to that excellent Mother for her kind remembrance of me; for I find she left you a few days after the date of your letter of 6 Feby. She has not only been blesst with long life, but also with the great ingredients for rendering it comfortable and happy: namely, health with a certain mildness & equanimity for which I ever considered her remarkable. I pray you and Mrs Madison to accept the cordial salutations & wishes of your old obliged friend
James Maury
P. S. Doctor Waterhouse of Cambridge sometimes writes to me. In a letter of 31 March he says "I lately had a very pleasant letter from my friend the Expresident Madison, now in his 80th year" Is it so? for I always have considered you as about five years my junior.
J. M.
[enclosure]
Liverpool16 June 1829
Sir
[circular]
The import of Cotton into the Kingdom from the 1 Jany to the present time from the United States, Brazil, W. Indies, E. Indies, Egypt &c Total is
278.793 bales 80,048 7,211 52,934 2,055=421,641
against the same period in 1828
218,881 60,012 5,399 44,093 16,950=351,335
shewing an increase from every quarter (except Egypt) amounting to 69,700 bales, of which surplus 60,000 are from the United States; the export so far has been 45,700 bales against 31,400 last year; and the stock is estimated at 460,000 bales, or 10,000 more than at this time in 1828, in both periods the quantity of American is alike, viz: 240,000.
The Trade in Manchester & the other manufacturing districts has been gradually improving for some time, so that purchases are now made with increased confidence, and our market is very steady at the advanced ratio of last week. In short it seems to be the general opinion not only that no material decline is likely to occur again this year, but that before the close of it we shall see further advance in prices, should the supply continue moderate: for after the experience shippers have so dearly earned so far this year, it can hardly be supposed they will pursue such a ruinous business much longer.
The principal demand runs upon good fair & good Uplands, and as these descriptions (as usual at this season) are comparatively scarce, they now fetch* 5 7/8 @ 6 & 6 1/8, being an advance of 3/8 p lb from the lowest point: last week 60 bales of fine quality sold at 6 3/8. For Orleans there is not so much enquiry, especially of the higher classes, as they are much interfered with by the low prices at which Brazils are now selling
Tobacco is almost entirely neglected, & likely to remain so until Sept: next.
At To-day’s Corn market Wheat was sold at a decline of 6 pr’ bushel, chiefly in consequence of the favorable appearance of the crops. Flour in bond is unsaleable—the nominal price 31/ @ 32/-. yours resply
Maury Latham & Co
RC and enclosure (DLC). Enclosure is a circular of Maury Latham & Co.