Virginia Argus

Dull times in Canada.

QUEBEC, June 6.

Sixty-seven vessels from sea, have arrived at this Port since the opening of the navigation. Of these the greatest number are from Great Britain and Ireland, and many of them have brought valuable cargoes. The experience of a few weeks, has filled the minds of most mercantile men with unfavorable forebodings; and although, when the seed time which has been uncommonly late, will be fairly over, and the farmer and country traders will have time to attend the market, and make their purchases, the prospect may brighten up a little, yet we fear these forebodings are but too well founded. Commerce is an exchange of commodities, and it is but too true that we have hardly any commodities to exchange for the superabundance of goods which have arrived, and may still be expected. Provisions, which were one of the staples of this country, have actually been sent out to us from Great Britain. and are perhaps the only articles which have been sold at a profit! Manufactures we have none, but those that are imported. Lumber, while the price of provisions and labour remains high, can hardly be afforded at a price to admit of a profit in England. it cannot, under such circumstances. stand a competition with lumber from the Baltic. There remains then only the Furs collected from the Indian Countries. of which the amount, comparatively to other importation, is trifling. Cash would cover all balances : but it has "made itself wings ;" the Government Paper having been called in, the circulating medium does not, perhaps at present, exceed the amount necessary for internal use. The diminution of the Military Expenditure, the supplies which the Military Government will receive from Great Britain, have little hope from that quarter. From whence then are to come the returns ? The deficiency is already felt in the unprecedented fall in price of almost every article of imported merchandise. The importer must either sell at a loss, or keep his goods till the quantity on hand is more on a level with the means of the country ; which, we are sorry to say, is likely to be a long while.