The Madisonian

[Correspondence of the Journal of Commerce.]

Macao, Feb. 14, 1842.

We have no change to notice in our market of imports, except in the article of lead, which has somewhat improved; a considerable parcel having lately been sold at $6 75 per picul. In teas but little has been doing. Prices remain about as we last quoted, but if we should continue until the end of the present month without arrivals from the United States or orders for purchases, we may see a decline of 10 or 12 per cent. in prices of some descriptions of exchange on London. Mexican dollars may be quoted at 3 a 5 per cent. discount.

The total exports of teas from China to the United States, including the Clarendon's cargo, since 1st of July last, are about 88,000 chests. The Comorando, Luconia and Cynthia, are at Whampoa, partially laden. The Hy Pratt, after lying in these roads more than four months, is now going into port. The Olof Wyk and Ianthe, recently arrived from Manilla, are seeking freight, which being scarce, they are likely to return to Manilla.

Of political news we have none of special interest or importance. Sir H. Pottinger arrived at Hong Kong about the 1st inst. He at once put a stop to the seizing of the petty Chinese trading craft in the vicinity, and it is generally believed that no hostile movement will be made towards Canton, unless the Chinese commit some gross act of provocation, which is scarcely likely to happen. Nearly all the efficient troops have gone to the North, and we understand that as soon as the state of the weather will permit, operations will be commenced against some of the principal cities North of Chusan. Thus far, it does not appear that the Emperor has shown any disposition to treat with H. B. M. Plenipotentiary, or even to inquire as to the nature and extent of the demands.