The New York Herald Newspaper, September 6, 1847, Page 2

Ex-President Tyler -has replied to, Ex-Presi- dent Houston. The reply we give in another column of this day’s Herald. We obtain the se- eret history of the negotiations that led to the annexation of Texas, by the-deeire- of the»Ex- Presidents to set themselves right before the couatry. . MR. BENNETT'S LETTERS FROM EUROPE. Lonvon, August 18, 1847. ‘The Commercial Revulsion in England—The Power of the Bank of England—The Duty of American Me. chants. The pressure in the money market is just a8 severe asever. It is calculated that American bills, to the amount. of £400,000 or $2,000,000, will be.returned to New York, and other places of the United States, in the steamer that sails from Liverpool to-morrow. This amount, added to those already returned, will probably exceed ten millions. The effect of this measure on American trade, set on foot by the Bank of Eng- land and the capitalists of Lombard street, can be easily im-gined. Whether this, even, will be the whole extent of the recoil, seems very doubtful. The causes which have produced the exieting revulsion are still as active as ever. These causes may be found in the railway expenditure, in the vast increase of imports into England, in the high r of exchange; all these concur- ring to give a shock to the money system of England. Some branch of trade had to be sacri- fiord in order to preserve the ascendancy of the Bank of England, and to continue the monied power over the exchanges to the large capital of London ; and it has been judged to be the best policy, and the least sacrifice, to ruin the Ameri- can cvrn trade, and break up all the merchants in that line, in order to preserve the financial enperiority and domition to London. New York, Boston, Baltimore, and New Orleans, must all suffer some, when their commercial movements interfere with the Bank of England and the English capitslists. I should not be surprised if the extent of the present revulsion were to equal that of 1896-'87, or 1839-40, w hich fell so heavily on New York and New Orleans. It will probably break up all the American corn dealers, from the Atlantic te the Mississippi, and all those of other dealers, who have purohased their foreign exchange, will be more or less injured. But the restrictive action of the Bank of Eng- Jand and the London capitalists is not confined to the American trade. It has already produced a revulsion in some of the commercial cities of the continent; and accounts of failures are reaching London by every other continental mail. Thave already alluded to the railway expendi- tures in England as being one of the principal causes of the present revulsion. The outlays in these works have been, for the last two years, equal to £25,000,000 a year. Forthe present year they are estimated at £40,000,000, and some think that the “calle,” as they are called, will exceed that amount. These vast outlays have caused an increased demand for corn, sugar, coffee, tea, &c., all of which are used by the workmen employed. The proportion expended in foreign produce is estimated at half the aggre- gate cost of the work. This increased demand, coupled with the loss of the crops of last year, caused the extensive pressure, which alarmed every one here, in the month of April last. But at that time the famine existed, popular dis- content had to be conciliated, and the Bank of England, with the London capitalists, did not venture, at tnat period, to dishonor American bills, and break down the American trade. In April, they were willing to allow the specie to be drawn to pay for the balances due the United States. The railway ealls for floating capital had even to give way for the necessity of re- ceiving food. All is now changed ; at this period, however, the capitalists and politicians have recovered from their alarm; and in order to preserve their ascendency inthe exchangesand in money af- fairs, they devise a measure that will carry de- struction to the American trade in that particular line. The field will now be left open to the large English dealers in exchange, and if it be possible to get back the specie, they will attempt the measure in every shape. It is alleged, indeed, in these regions, that the Bank of England, under her present charter, can- not help herself; that she must refuse discounts, and elevate the rate of interest, as’ soon as the specie in the banking department has diminish- ed to a certain point. This may all be very true, but there has been acombination of London capitalists acting with the bank in the recent measures; and the purpose really around on *change wasto break down the American corn trade, which caused the drain of specie, so as to preserve the railway and other speculations of their own. Such is, undoubtedly, the canse and the con- sequence of the recent measures of the Bank and the capitalists. The fall in the price of bread- staffs, caused by the good appearance of the crops in Europe, may have produced some fail- ures, but many of those who have recently be- come bankrupt here, will have assets enough to pay their liabilities in full. The results, how- ever, of these measures, are not all fully de- veloped. It is now believed that the good crops and the pressure in the money market, will cause a grent fall in the price of breadstuffs. I have heard some acute financiers say, that before the next spring, the price of wheat per quarter will be down to thirty shillings, or less. As long as the railway expenditures continue, a large sup- ply of breadstuffs will be required from the Uni- ted States. The price may not fal] so lew in con- sequence of the demand still existing here, but at all events the Bank of England, and its secret agents, the great capitalists, will take possession of the American corn trade,and manage it, to- gether with the exchanges, so as to suit their own interests and policy. Ivisthe great error of the American mer- chants, in every branch of trade, to act singly instead of together. Their isolated condition mukesthem easily overthrown. It is caleulated that fifteen millions of dollars, during the pres sure, willbe the amount of the dishonored ex- change. All this business will now fall into the hands of the agents of English capitalists, who are in their turn guided by the policy of the Bank of England. The profits in the exchange te sup- ply these deficiencies will be very great, and will goto European agents and hous Why cannot the banks and merchants of the United States, combine to defend themselves against the Bank of England and the foreign capitalists? They have the means completely in their power ‘The-English foreign trade is decreasing with Europe, but it is increasing with the United States. Hereafter, the rate of exchange will most generally be always against England. By a proper combination of the United States bank- ing interests, Wall street might hereefter rule Lombard street and all its dependencies. The present aught to be the last revulsion. But enough on this point at present. I shall have much to say on these matters hereafter. The last throes of the election are now nearly at a clo election whose results have caused a great deal of congern to the old aristocracy. — For the first time since the passing of the reform bill, the free traders, or the movement, or radi- | a cal; or republtcan party, will have force enough he the Commons to check and control the two old parties, divided and broken to pieces as they are by the abolition of the-corn laws, ‘The radi- cals and repealers will have over & hundred votes in the House. They are generally set down as liberals, and nominally in favor of the Russell government—but there is no real sympathy be- tween them and the old whigs. It is much more likely that Peel and his tail will turn towards the radicals, under Cobden and his men, than that Cobden should feel much sympathy for Rus- sell. Lord John Russell is the organ of the eld whig oligarchy, and is just as hostile to the further extension of popular rights as the old tories are;even more so than Stanley and Ben- tinck. There is a good chance for the people hereafter to increase their power and influence io the country. If corn should fallto a very low price, there will be another political excitement in England. The landed aristocracy will soon be on their last legs. Tue Gas.— What in the name of wonder is the matter with the gas in the lower part of the city? It gives us about as much light asmakes darkness visible, and nomore. The otherevening it went outentirely,and left our establishment fromturret to foundation,as durk as Erebus. Fun ievery good 1n its place, but a newspaper office isno place for it, aud we snggest to the gas company the pro- priety of omitting it for the future, for we can assure them that we cannot appreciate it, at three or four o’clock in the morning, when every min- ute is as much as an hour to us at another time. One word to the gas company. Gentlemen, —you charge exorbitantly high for your gas, because you have a monopoly of the business, and give mean, contemptible, small, and unsatisfactory light; you are getting very unpopular with tne public, and our advice is—have ea care! The city of Washington will soon be illuminated with a new kind of gas, which costs very little. If you don’t look sharp, your occupation and your profits will vanish like the baseless fubric of a dream, or as your gas did in our office on Sutur- day night, and leave nothing but long faces and empty pipes behind, because people will try to manufacture their own light. Let the experi- ment be tried but once, and from the time it is made you miy date your graduai downfall. In- deed, we understand the experiment will soon be tried. We want good light and more of it than we have had lately in our fixtures. You gave us a dose interna ly a few days since, while taking up the pipes in the streets near our office, and perhaps you are making up for it by stinting us in another shape. Meprcat Department or Atms Hovss.—The summer recess of the Common Council has now terminated, and they will meet this evening again for the transaction of business, and among the first things done by the Board ‘of Assistants, we trust, will be the final passage of the bill for the better management of Bellevue Hospital. Tt will be remembered that this bill was passed by the Board of Aldermen, with some few amendments, and sent down again to the Board of Assistauts for their concurrence, the last night of their session, but from want of time it was then laid over, and thus remains. We have already given our readers a synopsis of the proposed judicious alterations, and we feel convinced, that every member of the Com- mon Council must be thoroughly aware of their excellence.) If anything more were necessary to urge some change in the management of affairs at Bellevue, we might adduce the recent extra- ordinary occurrences that have taken place there; we allude to the quarrels, criminations and re- criminations, between the resident physician and hi ants. In such cases, it is always difficult tosay who isin fault; but be the fault on which side it may, the possibility of such, we must say, disgraceful scenes being enacted, show that the present rules and regulations must be both contused and indefinite. Let the bill now before the Board of Assistant Aldermen, be passed, and madea law, and then the business and station of every person about the establish- ment will be so clearly defined, that such occur- Tences can never happen. The expense to the city will not be any more than it is at present, and we shall heve an order- ly and well appointed hospital, whilst at present Bellevue Hospital is little better, it appears, than a fighting ground between hospitul stewards and physicians. Exgction 1n Wisconsin.—A delegate to Con- gress is to be elected to-day in Wisconsin. Mo- ses B. Strong isthe democratic, John R. Tweedy the whig, and Charles Durkee the abolition can- didate. Theatrical and Musical. Panx Tueatae.—Mr. Forrest, having recovered from his indispesition, will appear again this evening at the Park Theatre as Othello, im the tragedy of th t name — The whole cast of this piece is excellent. The comedy of the “Governor’s Wife,” will conclude the evening’s amusements. The cast in the latter piece, too, is ex- tremely good. CuatHam Turatax.—That oxedliont comedy, “ Lon- don Assurance,” will’be performed at the Chatham Thea- tre this evening, and those excellent performers, Mr. Walcot and Miss Clark, will, with others, perform in it The faree of “ Bamboosling,” will beadded. We doubt not that Miss Clark will be gladly received by her man: admirers, who will flook tosee her this evening, whic! Sanh eat See appearance since her recent inaisposi- jon, Castig Ganpen.—Verdi’s grand opera, the “Two Foseari,” will be performed at Castle Garden this eve- nit the Havana opera troupe. The princi; te wi macted by the most perfect of This Uaraltable company. We expect to see avery large sudience at Castle Garden this evening. Patmo’s Orena Hovse.—A oapitel programme of amusements ie advertised for performance at Palmo’s Opera House this evening, by the Ravel family, and the stock company, It consists of “The Rendesvous,” “ Blaise and Babet.” and the pantomime of * Jocko.”’” When it fe kn that Mr Vache, Mr. Placide and Mise ylor in one department, and the celebrated Ravels perform in another, the pubiio can at once perceive the attractions that are offered, Minerva Roome.—Another treat is offered by the Virginia Sereneders, thie evening, at the Minerva Rooms. They have advertised to sing « great selection of new melodi a it for the benefit of all who attend. the la flo, Peeper Ernioreans.—This new company of Virginia minstrels have taken the Apollo Rooms for a week, oom- meneing this ante and will sing there the songs fewark, Brooklyn, and other places, with 6o much sucovss We recummiend our fun loving citisens to drop in and hear them. Hexz ap Srvom1.—Madame Fleury Jolly has been prevailed upon to defer her departure for New Orleans until after Messrs. Hers and Sivori bave givon their next ooncert in this city, in order to ald them in making a most excellent be cichgaae weed on that oooasion. We u id that these pe ere leave on Monday for Albany, Troy, and Saratoga, at which latter place they will give concerts during the time of holding the great fair next nets: Booth. commences an engagemon| the Ho Athepwum, Boston, this evening. eu Sporting Int-Lligence. Centrevitt Covase, L. l.—Taortio—Four contests take place, to-day, at this track, and we anticipate an excellent afternoon's sport, should the weather prove fa- Yorable, We refer to our ad' Ieeding to the course in Sac enetat ® course in ith soo a large turnout of the bloods)? ee Law Int Count or Genenar Sranmnee the of this court commences to-da; none but prison cases were +f led dui terms, the onlendar for the present te tity be very large ; and upon the whol: More intersting and important than # long time pas we expect to A Failures, ‘rom the Savaonah Hepubli. an, Sept, 1 j- No New York ame by the mail last even! ire indebted ior vite Northern "Pp a copy wt my to considerab!; wes ¥ took Greek it, and Hoboken, sburgh, Staten Island, beautiful retreats in our immediate vicinity. weather was warmer, by some ope. in of September leat In ‘this city. It stood, Septem! as follows :— a 6A.M, 12M, 3 18 87 ‘was one last year than it reached at the correspo: ar raid» wares odie sare Cort 8, immediately with them. will van! oppressive heat tht bas kept our citizens actually broiling for the last fow weeks. 4 Common Councit.—Both boards holdforth in their re- Sea ete evening for the first time after Fecess. Fines. —About five o’clook yesterday morning a fire was discovered in the jewelry store, No. 216 Bowery, bo- nging, to Mr Richard Sol . The fire was promptly extinguished through the aid of the police. Damage triding. Another fire was discovered yesterday morn- ing at the tobacconist’s store, Delorigion to H. & C. Sagchan, No. 249 Washington street. It ie Fpeeny put out by oltisens and police. Damage also trifling. HoaticunturaL Exuipition,—' American Agri- culture) Association will boid their mext horticulture! exhibition at the Lyceum, in pert on the sth and 9ch of this month—Weduesday and (bureday next. Daownen in 4 Sinx.—Coroner Walters was called yes-> terday to hold an inquest af No. 7734 Broome street upon the body of Jane Moffar, aged 11 years, who acci- dentally fell into # sink in the yard and was drowned. Verdict asoordin ly. Police Inte ligence. Aasault with Intent to Kill.—Officers Watson and MoManus. of the 6th ward, arrested sbout 11 o'clock, on Saturdey ae, aman by the name of Jobo tg a charge of violently assaulting Dennis Bene with » bung driver, infloting several severe blows on the head, with intent to take his life. The sseault took a at the boarding house No. 475 rearl kept by Mrs. Weeks, and as the complainant had on $900 and » gold watob, it is sup, that the money was the object of the assault. Committed by Justice Drinker for a further hearing. Arrest of a Convict.— Officer John Rafferty, of the 6th Ward, arrested, on Saturday night. fellow called John Sears, en escaped convict from Blackwell's Island. Jus- tice Drinker sent him back to his old quarters, to finish the bulance of his sentence. Careless Shooting.—Offieers Owens and Connolly, of the 6th Ward. arrested, on Saturday night,e man called Wm Riley, ona charge of carelessly discharging a load- ed pistol in’ Cross street, a portion of the charge havin taken effect in the leg of a youog girl, by the name o Ma: it MoDermot, inflicting rather « serious wound. Justice Drinker locked bim up for trial. The Escaped Prisoner.—We alluded yesterday to the two women arrested on suspicion, of being con- cerned in the escape of Gookin aliss Tom B ker, from the city prison on Saturday last. One of the prisoners we the meme of Jane Montgomery, and the other as ouisa Nelson, and during Sacurday night Jane ac- knowledged baving aided in the escape of Gookin, by bringing in the dress, &o ,in order that Gookin might pass the kee in female attire. They are both de- tained in prison for a further heuring. Arrest of Hack Drivers.—Officer Bloom, the Hack In- Spector, arrested on Saturday, on a warrant, John Mac- Dowell, driver of hack, Nu 219, and James Devlin, driver of hack No. 16, both of whom were obarged with extort- ing from = er mere fare than allowed by law. They were taken before his Honor Mayor Brady, who fined therm each $5 for the violation. And if they are brought up again be‘ore his Honor for the like offence their licenses will be revoked. Arreat for Manslaughter.—Officer Horton, of 5th ward, arrested yosterdey man called James Wilson alias Crasy Jim, on ® warrant issued by the Coroner, where- in he stands charged with furiously driving, a few days ngo, ® horse and wagon down the Bowery. ruaning over an upknown wan, and inflicting such severe bodily in juries that the unfortunate man died on Saturday at the City Hospital Justioe Drinker held the cocuted to vail in the sum of $500, to answer the charge at court for trial. Arrest on Susricion.—Officer Crolius, of the Sth wa:d, arrested on Saturday afternoon s suspicious looking young man, calling himself Wm. Sim having in bis four pieces of German vestings,supposed to be stolen, for which an owner is wanted. Apply to the above officer, at the fifth ward statiun house, No. 48 Leonard street. Dishonest Lodger.— Some thief stole from the room of Thomas Wallace, residing at the corner of Chatham street and Oliver,on Saturday night last, $15 in bank bills, together with # black dress coat, worth $20; 1 pair of blue striped pantaloons, worth $6, and two ellver pencils, worth fin ‘all $43, Supposed to have been ee by ® young man who lod; in the house that fe oat kee) Saturday's Herald, we noticed the ar- rest of bh Romain, on « charge of atte; yoy bidoed @ count it $3 bill on the Mechanics’ Bauk of Newark. New Jersey. Justice Timpson has since visited Newark and presented two of the bills in question to the cashier. who pronounced them to be genuine. Mr. Romain bas therefore been honorably disc! by Justice Timpson from the complaint pieferred inst him. Turrentine Business.—Few persons, perhaps, unconnected with the commercial transactions pow carried on in North Carolina,in the single article of turpentine, can form an ides of the quantity made an- nually in its imits, the amount of labor employed in its manufacture. the large capital invested, the iarge num- bers supported &, it, and the various uses to which it is ‘eppropriated. Nor are wo prepared t@enlighten them fully upon the subject, because of the neoeasarily limit- ed information which even dealers in the article possess im reference toit. In our conversation with intelligent gentlemen en; in the business, we have been ena- bled to gather up some particulars, however, which may be interesting. 'e tind the impression to be, that about 800.000 barrels of turpentine are now annually made in thie State, Not more than 200 000 barrels, if that, were abipped to New York and other ports the past year. in ite crude state, the largest portion of the whole being distilled’ in the State The estimated value to the makers is about $1,700,000 besnie f and may be $2,000,000. About four or five thousand laborers are en- gaged in making it, and perbaps three times as many more human beings are supported mainly from the pro- ceeds of its first sule. The distillation of turpentine in this State is now carried on very extensively, which will render the shipment of it in its crude state very smal) in future. It is supposed that there are now in opera- tion about 150 stills, which, at an average cost of $1,500 with fixtures, show that there is an expenditure of $226.0v0 to begin with, in the distiliing of spirits of turpentine. This number of stills, to have steady work, would require 600,000 barrels annaally—more than is now made; which to us is an indication that the distilling business is over- done, Should the makers of the article contin multiply stills, and thus monopolize the distilling as as the making, it will be necersary for thore now en- gaged in it to invest their capital in other pursuits. The cost of distilling isvery t, aod whet reckon the cost of transportation, the protite of distillers, of ship owners, commission merchants, and the venders of the article abroad, it will be seen that the capital and labor employed is not only immense, but the numbers who are supported by the manufacture and sale of the article is astonishing. Per! i there {sno one article produced in this country by same number of laborers, which contributes so much to the commerce and rity of the country asthe article of turpentine. —North Curo- lina Newbernian. Commencement at Brown Unive .— Wednesday last was the day set apart for the exercises of the seventy-eighth commencement of Brown University. Francis Wayland Weston, of Lynn, Mass.,was the valedictorian. The candidates for the degree of Bachelor of Arts were, Charles Mason Allin, ‘thomas Smith Anthony, Franots Eben Meriam Bacheler, Henry Southard Baker, Charles James Bowen, Jam s 'Petigrew Boyce, Albert Henry Campbell. George n, Frederick Denison. Edwin Dibell, Joshua James Ellis, George Hedding Fill- more, George Park Ficher, Albert Augustus Gemwell, Cyrus Garnsey. Reuben Aldridge Guild, Nicholas Hath- away, Phineas Howe, Samuel Herbert Judson, Jr., James Walcott Lathrop, Benjamin Lawrenow Locke, John Hill Luther, Edwin Smith Oliver, Emery Harkness Page. Inaao Proud, Thomas Henry Ripley, Milton George Robert, Amos Fletcher 8; want Brigham stod- dara, Ambrore Pascal S-vilon stuart, Benjamin Thomus, Francis Wayland Weston, Frederick Wey. The annual meeting of the Alumni of this university. was held on Tuesday morning, in Manning Hall. The attendance was large, and an increasing interest war manifested in the objeota of the association. Professor Gammell, from the Committee appointed to prepare obituary notices of graduates deceased during the yeer. reported the names of nineteen regular yraduates and four honorary graduates, with very interesting aud ap propriate notioes Remarks were also m de by Rev Dr ‘ayland. Dr. Bubcook, Ur. Tobey, Mr Payne, snd several other gentlemen, After the trans act.on of the usual business the Society adjourned, elebration of the United Brothers and Philer- Median Societies, took pl: in the Rev Mr. Hall’ cburch, on Tuesday ernoon. An unusually larg: nummer of the members of these societies were in attend- ance, and the rable reputation of the orator secured ‘@ lacge and fashionable audience from the city. wane was offered by the Rey. Dr. Baboock ef New ford. - ut oration was delivered by Charles Sumner, Esq , of joston, At the commencement of Brown University on Wednesday last, the degree of A. M. was conferred upon the following gentie: Di Joxeph Dunbar, olass of 1841 ; Perkins Converse, Benjamin Kendall, Sylvanus Dryden Cyrus Bean, Joshua Phelps, Lucius Lyon, William Sumner Barton, and James hic oy era a of 1844. lowing honorary degrees were conferred :— The degree of D. D.'u David Newten Sheldon, President of Waterville College. plane 4 The degree of LL. D. upon Jesaph E, Worcester, of Tue Ovorstaven.—The water in the river ie ty low. Navigutionis badly obstructed. Vesaele d steamboats find it often impossible aud always diffi. cult to get over the bars. A project is on foot to remove these ob-truotions by individual subseriptions. For the od gop ascertaining the points where the di jure ig most needed, a number of our men, with seversl members of the Common Council, go |. received by the tea: by B ihe eraind | 5 aia a ad ym it, called forth a pubiic le from the pen of Senator Hous- ton of Texas, on matters not put in issue by the article which, because of the tability of the in which it appeared, notice. ‘the annexation of Texas to the United States, bad, by » =, publication, either in the torm of a specch or iter, | forget which, been sufficient; with the over credulous people of the United as well as Coose entru-ted with the administration of their ne affairs, that the “ golden moment” for anvexstion ad arrived, and, if permitted to pass, could never be re- ‘Aided by the silence of the Texas press, and for more aught | know by other and still means, Mr. Houston certainly succeeded in impr Gen: Jackson—to whom, io the exubrance of be Ha that the Coquette would, arleea prevented by prompt cogs would, unless preven: aol » Very soon fall intothe arms bry another. and thus be forever lost to the Uuited states. That time-honored jot has descended to the grave, under the fall con- viction, that what he avouobed to the American people, was true in every word and in every letter. He wan in- capable of giving utterance to what he felt tobe untrue; ‘and | may safely add, that he looked too deeply into the deeds of men, and understood too thorughly their mo- tives, to be easily deceived. He saw, as readily as others the great stake at issue, in the question of aunexation— sstake which the leading States of Europe would be quite as eager to gain as the United States—and he pos- sessed aa fall knowledge of the necessity which would comprl Texas to resort to expedien:s tu resoue hereelt from the untappy condition im which sir. Houston de- scribes her to have bvem in 1541, as the President of Texas himself. ‘These eaxpedients are now for the first time promulged to the world by Mr. Houston, as hat been deliberately weighed, considered and adopted by himself. The first was to obtain annexation with the United States; that failing. the second was to obtain from Mexico the reoug- nition of the independence of Texas; and failipg in bot! these, the third was to ® defensive alliance with some foreign power t Mexico. In order to accom- oo the last two of these objects, 5] the Presiaent of Tex»s pread out before him as broad a field for diplomacy ‘as could well have been desired. His expedient, annexation to the United States, was very soon ed, since Mr. Reilly, who had been ins ition, proposition, declaration that Texas would never renew it. After Mr. Reilly’s failure, the question naturally what course did the President of Texas then pursue? Did he fold his arms in apathy, or did he press on to the accomplish- ment of his second and third expedients? Did he sak to interest other governments in the affairs of Texas, 60 far as vo induce their interposition with Mexico, in order toobtatn an acknowledyment of independence? and was it, or not, through their iuterposition that « quasi armis- tice was at length obtained ?—an armiatice which, how- ever, opened the door to an acknowledgment of Texan independence by Mexico no wider than it had before |. Arter the failure of his tirst expedient, did Mr. Houston stand with his arms folded. and full into an apo- paw slumber? It was not until his presidential term run the greater part of its course, that the U. 8. Ex- eoutive,startied by intelligence received from London.end confirmed by the representative of Texas at that court, deemed it ‘necessary to institute inquiries, through ite accredited organs, for the eine of ascertaining the true condition of things. Those inquiries developed the active effurts made by arsociated individuals to en sure the poeanergty TH their ivtrigues. and the extent o: the countenance which bad been bestowed upon them by the ministry of Great Britain, which was more pub- lly and’ openly avowed on the floor of the British Par- liament, ina debate in which Lord Brougham, whose sentiments were fully re-echoed by the British minister, bore a conspicious part. Iv that aebate, the Texan was declared to be the ailimportant question—and this, not so much on its own account in the abstract, as in its peertae and effect on the condi of the United There was no longer any room to doubt but that the eyes of foreign powers,as well us of associated companivs, were strainedin that direction; and | repeat in this place, whet! said in my former letter, that | resvived upon the proposition for annexation as the readiest, it not the on- ly mode, * toncatter the web of their intrigues,” either actual or contemplated. Notwithstanding, however, the authentic information reorived by the United States Executive, all of which has been heretofore in official documents communicated tothe pavievant notwith- standing the great interest with whichTexas was regard, ed by the distinguished statesmen of Engiand, Mr Houston, who is not content to rprak for himsrlf alone, but also for the whole world, would fein induce the coun- try to believe that the British ministry folded their arms in inaction, and that the Abolition Society of Great Bri- tain reposed in undisturbed siumber, He seems also most strangely to turget tbat the city of Mexico was as important a place for the coucocting and carrying on in- ‘trigues ,as the city of Austin itself. in taking the initiative, 1 was not in the least control- led by the feelings of the Texan Execu' nor did any thing which had proceeded from it stimulate me to action, Texas was surrounded by well-known embarrass- ments, exhausted by a long war, her industry ud her resources almost annibilated; and as she had been repeatedly repelled in her advances to the govern- ment of the United Sia it was paturally concluded (hat she would look elsewhere for succor and for aid. The Executive of Texes bad tried amuexation, and failed; it nad mot obtained @ recogndtion of independence by Mexico. What other expedient remained, but to make the best terms it could with either France or Englund. or both, which, giving it breathing time, would ensble it to repair the energies of the country, and recover it from the stute of deep depression in which it was placed? The Awerican Minister, (Mr. Murphy.) was therefore directed to urge annexation on the Excoutiveuf Texas. This was accordingly done,and Mr. Houston. in bis letter, sets forth the terms which, a 4 condition precedent, he thought it proper to exact trom am over zealous, but devoted friend to the measure. [must be permitted to that it would have better concluded Mr. Houston's account of the matter, if he had seen cause to have informed the public, that the terms thus exacted were promptly diea- Yowed by tue Executive, it being firmly fixed in its de- votion to the Constitation of the United States, and t! Constitution nowhere conferring the power on the Presi- dent to transfer his authority over the army or any portion of either, to a foreign potentate, cr to enter into any alliance, defensive or otherwise, without the previous esnction of the Senate. ‘This wasas well known to Mr. Houston ap to myself. He had filled important stations in the United States prior to his emigration to Texas, and was believed to be well acquainted with the limitations and restrictions fmposed by the Constitution on all its functionaries. Mr. Houston will pardon me for frankly saying, that this arrangement, thus made with Mr. Murphy, did at the time excite a suspicion on my that he wanted but a plausible pretext to de- teat annexation altogether. He will find in that fact, indep.ndently of their own personal merits, the secret motive for the appointment of Geo. Howard, who baa belonged to Mr. Houston’s military family when Gover- nor of Tennessee, in place of Mr. Murphy; after the deuth of General Howard, of Major Donal eon, from the household of General Jackson, who was regarded as the idol of Mr. Houston’s political worship. Both these gentlemen were well wor- thy of their appointments, and acquitted themselves of their high duties with ability and zeal; pene it, could | have been satisfied at the time that the President of Texas was playing the coquette, and merely indulging in @ course of innocent flirtation, in order to awaken the jealousy of the people of the United States, it isquite probable | should have selected for tue mission others, who stood more closely allied to my administration. The flirtation with Mr. Murphy was very soon quieted, - d @ disavowal of what he had oer Ta but from the best of motives, been led to do; but, when the co- quetry with Kngland was afterwards ac! ly carried through the active agency of the British Minister, into an acknowledgement by Mexico of the independence of Texas, upon the sole coudition that she would renounce annexation to the United States, it was as near becom- ing serious as any love affair in the calendar. What it the United States had presented wt the ti 10 defini- tive proposition for annexation, is any one prepared to say that the Mexican proposition would not have been accepted? Will any one venture to say that General Jackson was so far docvived, or the American people #0 far misied by their jralousy, as to have been mistaken in supposing that “the golden moment” had in fact ar- rived? Or, can it be suid that | was very far mistaken in the declaration, that the proposition for anvexation soattered to the winds all the webs of intrigue wherever woven? Alas for annexation, if the American Execa- tive had been driven to ihe alternative of presenting a new basis of negotiation in place of dennitive terms! In deciaring the opinion thet the d of Mr. Upabur. and the appointment of an adjumot oomwissionerto Mr Van Zandt, alone prevented the completion of a treaty at an earlier day, | neither designed vo utter complaint ugainst au all-wise Providence for removing from my side my friend and able counsellor, nor against the K.xecu- tive of Cexas for appointing an avjunct commissioner — it was solemn occasion, that of merging the absolute sovereignty of one State into that of others; and Texas could not well huve used too much caution in its per- formance. Certain it 1s that no adjunet could have been more acceptable to the United states than Governor Henderson. | did but urge that view to rhow that ro secret had been, und so expeditious would bave beou the vourse of the United State &xecutive on ubject, that the treaty, but for the two circums salluded to, would have yu cousumm: befure the speculation Texas stocks, or hoiders of ‘Texas lands would ever ve heard of it. | thigk the remark admivs iu fairness no other coustruction. ‘As to the aseription made by Mr Houston to General Jackson of the success of the measure, | have nothing more than this to say, that | took the initiative without any previous consultation with that distinguished man ue to the action of the Executive bis sealous and cordial support, and I would be the last to deny him the fail measure of honor which ade a cer advucacy im- plied. His name was undoubt 8 tower of strength to any cause which he er) ; but there were othr auxiliaries who deserve to be noticed in connection with the matter. | omit the vames of Mr. Upshur, Mr. Nel- son and Mr. Calhoun, who successively filled the chair of the state Department, and after them of my entire cabinet, They were s part of my own identity, and that each was worthy ot my contidence aud that of the coun- try, is suMciently demunstrated by the truite of their Libors. 1 choose to mention uthers, not members of my peiitioal family, emong the most prominent of whom was Mr, Wall the sont Seore.ary of the ‘I'resgury, whore writings unveied the true merits of the question, and, aided by the expositions of many editors of the newspaper press, brought the public mind to jusy and sound decis 0 | was myreif surtained and encour: of other distinguished ottisens, amon; | Peter io mentioning the name of one ve yy the opinions whom I take 0 Once would commanded the resect, if not the confidenos, of thousands; but who, at the time, rested under a cloud, and spoke to me from the shades of Andalusia: I me she late Nicholas Biddle, with woom | differed so wit on ‘of the Bonk of the United States, valnd did a ‘aot fall to embrege Gold Pens..Read the following, longer be deceived as to who sells the best Pens at the lowest Prices j= iamond Poiuted Go'd Pens which are advertised inter cote eee, ill be found, on tral the Rest ever bhtered to the publje. ‘They write smcomly and rapidly, and . t low rates by Betieh Monin Cedar street, to whose advertisement we ask the attention of our readers.—[Courier & Enquirer of Tuesday. cali The" Zbove, trom the Courier and Enquirer, will be of some tage tu those of readers who wish’ to supply them. tee nae {0 those of ont, Teaert Clow prce--Ciribane of ednesday. Sry aap eprey peer eepeteeepe ‘he f they are the best and cheapest pens ye city— cath they sve Fecomoended extensively by thote who have them, is bringing in orders from all parts of the country. tis chus we sentise to the winds the idle txles of rivals, who cannot con ir oatantly lpcrensing popu. arity of these pens. “B.. We Gon a5. William stree oor belnw Wall atre xjend Sy. 1m. fe A a LO leche Gold Pens Wholesale and Retall...The New Fe ee eee Ce eee iy often at eiuerd Tei Mi afligs ste thar bar added wea ment of Pens, of ‘il, ‘the most let stam slog er ory hers swore nos eesti fenting o 7 George F. Conckiln’s —Persons Tian Ne eegcat EE tie New Vash Camphoos Biealery, and from ti of few ae ory, ane ork. Mile te conser Say ste aad lat wveune, they will be a tended to. Fine Catlery...The subseribers’ assortment jiety pattern of pen, pocket, desk ting knife, witha large variety of choice razors, which Beater Hens 2 tne PUTED SAUNDERS KBON, Seen 17 ‘Broadway, a few doors above Courtlandt street. ‘Tra’ Dressing Cases._The oxceedingly small compass ‘ which she subec.ibers hav ed every thing necessary for the tollet, without destroy: ir useful ness, and the h ndsome and substantial manner in which the; cases superior to any manufactured. tre mande render these, cages, many Ae eEaninasioe SAUNDERS & SON, 177 Broadway, ‘Navigation of the Ohio Hiver. Places. Time. State of River. «Aug. 31... .4 foot 5 in. 8 feet 6 in. 2 feet 1 in. -5 feet 4 in. falling. MOSBY MARKET, Sunday, Sept. 56 P. M. The arrival of three steamers from Europe within the past week, has given us intelligence up to the 19th of August, from London and Liverpool. It is very seldom that we receive in such a short space of time, such repeated socounts of financial and commercial embarrassmenta, in the old. world. The two short crops of Great Britain are beginning to produce the usual effects in financial and com- mercial circles, and before the end is reached we shall see a vast deal of difioulty among the commercial classes of Great Britain. One short crop in England is sufficient to derange the financial affairs of the kingdom toan alarming extent,and two usually brings about many insolvenoies, and produces panics and embarrass- ments, the effect of which is not recovered from for years. ‘When in connection with « large deficienoyin the crops for two years in succession, there exists an enor- mous speculative movement in a new element, we cannot but anticipate more alarming consequences than usu- aily attend a short supply of food. We allude to the railway mania, which has taken such a strong hold upon the speculative propensities of tke people of Great Britain. This movement, requiring the outlay for such « length of time, of such an immense amount of capital, at a time of scarcity in the domestic supply of breadstuffs, is sufficient to bring bankruptcy upon half the kingdom. Hed the present harvest been as deficient 4s the previous two, the consequences would have been awful. Fortunately for the people of Great Britain, there is every prospect at present of an abundant yield, and many of the evils which have been anticipated have dis- appeared. There are, however, enough left which have grown out of the position in which the people of England have for the past two years been placed, togive them all the angiety they desire for the next year or two at least. ‘The importation of breadstuffs into Great Britain is usually, large. ‘The people of the United Kingdom never raise enough for their own consumption. The short crops of 1838 and 1839 produced larger imports- tion in 1839 and 1840, but the imperts at that time were limited compared with what they have been in the pest two years, In 1839 there were imported into the united kingdom of Great Britain 4,405,613 quarters of grain, and 635,170 owt. of meal and flour; and in 1840, 8,444,346 quarters of grain and 1,312,96i2cwt. of four. From that time up to 1846 the importations of flour avd grain felt off rapidly. In 1846 they began to increase again, in = “oonsequence of the short crop of 1845, but the bulk ofthe imports for that year did not reach that country till the fall, when the second failure of the harvest created an immediate and immense demand for breadatuffs. ‘The annexed table exhibits the quantity of grain and flour imported into Great Britain and jireland, for the first six months in each of the past two years:— Gnain anv Fuoux Imrortep ito THE Unite Kina- pom or Great Britain, Jax 6TH To JuLy StH. 1846, ++ 847,839 723 814 77,260 513,230 223 B45, 614,145 33 24'663 51,910 73.780 Beau: 122 326 221,954 Indian flour... 244,002 2,080,981 ack wheat. 931 a2; jeer oF Big io 1,568 985 1,416,655 965 88,758 12 Total... .eese- +++ 1,506,290 8,978,242 It will be observed of the grain imported in the present year, Indian corn forms nearly one half of the whole. ‘The importation in the first six months of 1847 ex- oveds that of any previous year. This gives some idea of the immense demand for breadstuffs, and the great deficiency in the home supply. The shipments from this country, and from the continent of Europe, to England, since the 6th of July, have been exceedingly large, not- withstanding the great reduction in prices. It is a noto- rious fact, that the prospect of # good harvest im Eng- land, after a series of high averages, instead of repelling foreign imports, almost invariably produces a sudden in- flux of foreign grains, from the conviction that unless the holders, whe had been storing it in foreign countries in order to keep the Englirh market sparingly supplied. so that prices might rise to the highest points, should avail themselves of the present opportunity, before the new crop came into matket, they would have to submit to lower prices both at home and abroad. It is never the interest of the importer, in years of scarcity, to fill the markets with foreiga grain, until they have forced prices up to starvation point. It is pretty well known that the corn markets of England are regulated by emall cliques, and that the most extravagant and untrue statements, relative to prices, supply, &o., are frequently put forth for the purpose of inflating or de: pressing the market. It is therefore impossible to arriv: at anything definite or decidéd, relative to the corn mar- kets of Great Britain. It is principally the absence ot accurate information as te the supply of bread stuffs in England, the state of the crops, &o., which led to errorr made by shipperson this side, and to the absence of cor- rect information, on the other side, relative to the im- mense supply of breadstuff# in this ovuntry, and the quantity likely to go forward, that bas produced the dif- ficulties under which this claes of operators n w labor It fs well Known that parties on this side, early in the season, made the most ridiculous statements relative to the probable surplus supply of breadatuffs in the United States, likely to reach market during the opening of navigation. These statements, emanating from what ‘ws considered, on the other side, pretty good authority but which, on this side, were considered very ridiculous: #0 much #0 as to be beneath notice, no doubt had a very great influence upon prices. and was the prime cause of the enormous inflation which immediately followed ‘When tho actual extent of our surplus besame known, and the imporcations into Great Britain and Ireland from this country became ao large as to satisfy all that the deficienoy, whatever it might be, could be ousily supplied, prices rapidly depreciated, and the baw krupt- ces reported became ‘inevitable, Corn dealers on the other side!bave as yet seen but the beginning of the end Should prices steadily settle down, we see no help for many others as yet not named; but inthe event of prices taking a turn, and advaneing, many will be able to got ‘out comparatively easy. Whatever may be the result of this paulo, it will have very favorable influence upon fature operations, at least fora time; it may tend to check the enormous speculations going on in railway shares, and induce, all classes to. pause and ponder It fs only « orisis such as this that can arrest the heed. lees, headlong course of speculation. It is not unlike a - hurricane or tornado, after s hot, sultry day; it purifies ‘nd cools the air, and when over, every one breathes freer and deeper, and feels renovated. The annexed statement exhibits the quotations in this market for each day of the past week, and at the close of the week previous. There have been more fluctuations in prices than this table indicates, as we have taken the highest prices ruling each day :— Quotations 10ay, 10096 anak Toa 7 he ats eee moe we = 1K Te TH Geox 8 ox pe Se I i tk By 8 BKB BKB » aie: os mehr age: A comparison of prices current at the close of the market yesterday, with those current at the close of the previous week, exhibits a falling off in Treasury notes of % per cent; Pennsylvania 5’s,1; Reading Bonds, 7; Erie Railroad, old, 1; Erie scrip, 1; Farmers’ Loan, Canton, 1%; Morris Canal, 1, and an advance in Ohio 6's of 4 por cent; Norwich and Worcester, 134; Har- lem, 4%; Long Island, 134. At the second board yestery day Harlem sold as low a6 71, bving # decline of 3 per cent for the highest price of the dey previous. low Exchange $10000 Tr Notes 6’s b30 103 200sbs Canton Co b10 30% 309 Mex indem nr et 93 130. do St lex Indem5prct 93 lo ee U ate 6's 62 104 100 Haflem Railroad my 20300 PeansylvaniaS’s 77% 350 = do B a to ee ‘ Bonds 794 150 Nor & Wor RR 6; Seo 0h 30 a 10 §3 > ai 23 143¢ 50 Long Ialand RR b30 $51 20 Merchanw’ExehCo 7 200 do a 10 Railroad 62g 50 do 39) 25 igton RR 59% 700 do cp 100 Farmers’ Trust ie 50 do 10 35) 850 do. 354 50 do bio 36) 150 do 35; 0 do bio 35) % = do bio a 15000 Read Bonds 60 75 400shs Harlem RR b30 72 bi do 7% 100 do 90 Bi 50shs Leng Island RR 35'¢ 200 do b30 73 100 do b30 35% 50 do 7 do % 10 = do 7 100 do 335 650) do m1 200 do 35, 100 do 810 71 25 Canton Co 38) 50 do ms 25 do bio 38% 50 vo bs 70 400 Reading RR s6ms 6550 do m Bf Bs rome im a be 5 10. lo % 50 Nor Eve RR s 100 do 35 jo Stock Bizcnange. $2000 Illinois 6’s b30 45) S0shs Nor & Wor 63 653 50 shs Long Island RR 3534 50 Harlem cash 73} 50 lo bnw 353 50 lo cash 731 50 do p30 354g 50 do cash 7? 30 do IO 39% 100 = do . bao 73 25 Nor& Wer RR b3 65: 50 Farmers’ Tr bio 35} » do ba 65; 50 do. ‘bao 35) 2% © do 6554 100 = do bso 35} 50 do 5% 50) do 33 35, 25 810 65; Sa nn CITY TRADE REPORT. New Yong, Satunpay Arrennoon, Sept 4. The market for breadstuffs was heavy to-day. Sales of Genesee flour were made at $6 60 & $6 624. and some lots of Ohio fiat boop and Oswego at $6 60, and a lot of round hoop Ohio at the same priee. Provisions were very quiet and sales limited, without material variation from yesterday’s quotations. Groceries were quiet and sales light. Asuxs.—Sales of 150 bbls pots, goo’ tares, were made <= es el rr i pearls, Bold at $5 6236 a $5 68%, and 60 jo do. at . . Bexswax.—Sales of 2000 pounds Northern yellow, were made at 2408 2430. Breapsturrs.—Flour—Sales of 800 bbis. Genesee, fresh ground, from old wheat, sold at $5 62%; 4008 500 do. United States Mills, Rochester, (Geneses,) at $5 60, and about 1100.0 1200 bbls, (in separate lots.) of Oswego and fiat hoop Ohio, sold'at $5 60; 400 round hoop Ohio, at the same price, and 300 # 400 Michigan and Ohio, sold at $5 3734. WW were reported. Corn—The sales were amall, and the market dull. There were only about 5000 bushels re- ported sold. including Westera mixed, at 650, and fiat and round yellow, at 7 For some lots of mixed, hold- ers demanded 67o, eal— Prices remained nominally the same, but no sles transpired. Rye—We only have to notice s small lot, (800 bushels) sold at 860 Rye Flour—Sales of 110 barrels were made at $4 19%, aud afterwards a lot of 200 do., were offered at $4 123¢, with- outa buyer. Osts—A oO was reported at 4g. Be ‘he last sale of old was made at 580. ipta down the Hudson River Sentember 8. - « 8. barrels, ++ +012,800 Dasheis, + 491 barrels. BID niiaiinsa ds ; 4000 bushels. Boots anv Sxox! on active business is doing at bar. fair prices. The stock is light. ARDLES—S} continued firm 10. Corree—Sales of 6 07000 bags of Rio were made at 7% a 730. 4 months. Roe ee aad 10 ceroons of Mexican were made ‘at 6 months. Cortom#—The sales to-day reached 3000 bales, mortly for export, and nearly all the lots ing on the market have been taken up at prices full quarter of = ceat be- low those ruling previous to the arrival of the Caledonia. ‘The demand is chiefly fur the continent, although sev- e taken ‘cels for Liverpool. Sales of we been made freely at 11340, and good middling uplands at the same figure. ‘ibe stock on hand in the city proves to be 20,00u lers than the old estimate, and holders are of opinion that the home trade will require two-thirds of it. Fisn—Sales of 700 quintals <% cod were made at $3 508 $8 62%; stock continued light. Mackerel—Sales of 300 bbls were made—the No. 1’s at $13 26; No 2's at $8 874, and No. 8's at$6. Sules of 2000 boxes ncaled herrings, including 1000 Nos. 1’s and 2’s, on terms not made public. Faurr.—The sales of bunch raising reached 400 8 500 boxes, without change in prices. Q Ginsexc.—A sale of 2000 lbs was made at 33 ots. Heme —The market was quict to-day. Dew rotted wate een per ton, snow do $165, and water rotted per ton. Hives.—The market has been well supplied during tho week, principally from the River La Plata, and a cargo of about 9000 Buenos Ayres were disposed of.at about 123¢ Y a demand is good, but without any parti- Leatuen.—The market is brisk, and sales have been steady sinee the public sale last Thursday, at full prices. The demand fer heavy weights was very strong and it was estimated that the stock of that description on hand did not exceed 5000 sides, all told. Leav.—The artiole was held firm at 4 cts. per lb. Motasses —Nothing doing to-day—prices steady. Nava. Stones.—Sales of 900 bbis. north county rosin were made afloat. at 60 cts , and 600 doata trifle lens. Sales of between 500 and 1000 bbls. raw tu tine were made at about(it was supposed) $3 25 per bbl of 280 lbs rep ee] of about 400 bbis spirits turpentine were made at 50 cts. Orrs —Linseed was dull at 65c a 660 for lish, while city remained at 670. Crude sperm was worth $1. Selected whale 36c and or a 8440 There wan no change in manufactured. ve remained steady, 1100. Provisions,— There was nothing doing in perk beyond «mall gales tothe retail trade, in lets of 40 or 60 bbia of prime and mess. The former (in this small way) at $12 and the letter at $15 In large loteit was leas by 12% 9250. There was nothing Lag retail transac- tions in beef, Lard—Sales of 180 bbis fair quality, were made at 103¢0, and 50 half bbis. at 110; and 200 kegs prime leaf lard at 11%0 Cheese—The arrivels were tree, end good dairies wore worth 7 a 73g0 «70 jor choice Butter was rather inactive, while prices re- mained about the same. Rice.--There was very little doing, while prices re- mained the «ame little done to-day in any Svoar —There was v description, while the market presented no new features. Topacco. —We submit the usual statement showing the prices, sales, receipts, and stock on hand, for tho week onding this afternoon :— Rec'd thie Steck onhund Bold Prices, this week. we « ia tad Ne bacolins 2X00 146 Fedde, ~ | Mth and Ohio. — = Ghds. 5 hds, it seed... 5 to 15 - ae 178 ca. to 16 190 cs.10e, = ‘M4 cs. a eee = bes. to 5K 150bl. = — 505 bl. Fillers. me bie = bl. rd = 1808ery aa ares For Virsinis and Kentucky tobacco the prio-s wore well supported. In all other kinds, there was not much rans tobucco, in spite of a small atook, there Cuba tobaceo, of eT weed fa le IAz of at. ‘Domtage tendency ; pretty large supplies omingn tol Tale’week, and will affect the prions of Connecti, out and Penhsylvania seed tobacco The new crop of Connecticut seed is said to be middling in quality and in quantity. altogether about 2,000 cases against 5,000 ‘oases of inst a mabews Of 80,000 Ibs were made at 04 90% cen’ a eae died of Northwest were reported at ots. Wuisxry was inactive—some holders asked 28 cts., while buyers were indifferent and sales could not have been forced at prices beyond 27 0273 ots, per gallon. Ps (Lira been more Soing singe our et re, sales of fleece and mix vo reached about 60,040 @ 70.000 Ibs , at fal) prices. Fariau+s—A small engagement of 400 bales of cotton war made for Liverpool at 7-324. Flour stood at about per bbl. Rates generally were dull and. little of- meer TELEGRAPHIC, , August 29th. Cotton,—The market continued firm, without change in prices. Bate to good fair was worth 190 @ 19}49, with over | Hight sales, Flour—Tho market wes some firmer, have tele position, ang thet of the taols opuntry of lange, e~ | ing Sightly PeerveRTd from the ponte predeed by thy OO >