Commercial Corresr,ondtnce ef the Register,
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NEw-fORK, Oct. 2O, lSll. The hustle of the fall trade in this city is nearly oyer and the character of the business done here has, and is undergoing important changes. both in regard Ia shipping offoregn produce abroad and tie disri button of eastern manufactures throughout the south. The old system of shipping American produce sgnent to foreign houses has led to such disastrous results those engaged in il, that in many branches cf usness, eminent honses, not only abstain from il, but are chary of credit to those who known still to pursue it. When produce, either rice, tobacco cotton, was shipped abroad on American account, the shipper usually received advance of or l. The property then wen, abroad on his count and rsk although entirely under the control of the consgnee. The operation might in some few cases, yield profit when the market abroad rising rapidly, but in the majority of shipments loss es and reclamations were to be the result. This evil either from stristure in the money mar ket prospective fall in priqes connvance on the part of the con-ignee, which induced sacrifice of the property to the advance, to buy it in his own account. This was severely felt on this side prior to 1899, that the famous Macon Convention met 10 devise means remedy it. and Mir Riddle also entered the market under the pretence of ''pro tecting American interests" and established ihe house of Humphreys & Riddle the agent there. This did not remed, the evil, because he root ii, was the fictitious banking system, which induced all shipments be speculative, the risk of the people who depended solely upon bank facilities for their means, instead of allowing the markets to be regua- ted by the actual demand from the consumers abroad This unnatural state of the markets could exist only with the inflated paper system. Its results we see everywhere in destruction of that syste and the em- harrassnent and failure of of those engaged in shipping produce. The current is now setting the other way, and manufacturers and foreign consumers must come here with the money in hand and buy our produce at it's fa;l value, and their own risk. By this trade will lose its speculative character and the currency which depends upon the produce of the soil, will cease be disturbed by the hazards of speculation.

 The construction of the Boston and Albany rail- road has had an important effect upon tlie trade of this city. Formerly Boston had ao communication with the west and south except through New York , by the way of the Hudson river, consequently the manufactures of the eastern states, sent to this city for distribution throughout the west on co,nis- sion through the houses here, and for the south to Philadelphia and Baltimore. The western rail- pad now lays Boston open to Albany by much more speedy and direct route. The manufacturers are therefore persuaded that the trade instead of coming to New York, will go to Boston direct, hence they have determined nut to send their goods to this city for Sale at per cent commiss ion and expenses, but to sell them home much cheaper to the western and southern trade., The value of Massachusetts manufacture valued for the past year at $780, 000, 900, of this 20 900 GOO the article of lea ther alone of the whole amount, $4O, 900 900 came 1 to New York for sale, and $50, ,OO0, 900 to Phade- phia and Baltimore. The commission and expenses on this were estimated, ut per cent, equal to $6,- 400 900, winch by the arrangement willbe sayed The dealers in New York to SUI ply their customers, must go to Boston and buy their own account The products of the west will also go speedily and in better condition to Boston direct, than former- ly by circnlous route, and will there find in the line of English steamers prompt outlet to the foreign markets. These eminent changes in the direction of trade, have already been felt some exten and with the coming spring will be more fully developed. It's operation will in short time purge the south of the irredeemable paper that s crushing it's energies, in spite ofall the influences that banks and specuators can bring to bear.

 This has been bill day for the packets which sail on Monday. The demand for foreign bills has not been large, but fully equal to the supply of sterling, for which the rates firm; the continent there has been some decline. The following is table of rates and the prices of specie:

 RATES OF FOREIGN BILLS AND SPECIE, NEw

 YORK, Ger. 30, l84l.