The New York Herald Newspaper, February 11, 1848, Page 1

a THE NEW YORK HERALD. Whole Ho, 5007, ARRIVAL OF THE PACKET SHIP ISAAO WRIGHT, AND STEAM SHIP SARAH SANDS. ONE WEEK LATER FROM EUROPE. INTERESTING COMMERCIAL INTELLIGENCE, Fluctuations in the Cotton and Grain Markets. Financial Affairs. SEVERAL MORE FAILURES. &e. ke. &e. Two packets arrived yesterday morning, with later intelligence from Europe. The magnificent packet ship Isaac Wright, commandgd by that extraordinary skipper of the seas, Captain D. G. Bailey, came in first. She sailed from Liverpool on the 19th ult. We pub- lished a part of her news in a second edition of yesterday morning’s Herald. Soon after that edition was issued, the marine telegraph announced the arrival of the fine aux- iliary screw steamship Sarah Sands, commanded by the gentlemanly and experienced Cap ain W. C. Thompson. She sailed from Liverpool on the 22d ult. She has lately had very extensive im- provements made in her machinery, by which an increased power and a higher rate of speed have been obtained. She has auxiliary steam power only, and yet she has made the passage in less than nineteen days. The news received by these packets is one week later than that brought by the Acadia. The steamship Hibernia, from New York, had arrived at Liverpool. The gold was accumulating in the Bank of England. The Queen of Spain is in excellent health. Portugal is quiet, but the British ambassador disapproves of the mode of constituting the Cort The health of Louis Philippe is good. Abd-el Kader is still a prisoner in France. Italy is uneasy. Switzerland was resting alittle, after her re- cent agitation. The accounts from Ireland are somewhat bet. ter. Though part of the food sent there last year, consisting of rice, Indian corn, meal, &c., is now being returned to England, in many parts the people are represented to be in a state of des- titution. There have been some seizures of fire- arms, pikes, and powder, in Tipperary; several convictions for murder; and the Lord Lieutenant, in addition to the proclamations which he has issued, has been delivering some sensible post prandia remarks. The cotton and grain markets had fluctuated somewhat. See the reports. The mill owners of Manchester and the vicini- ty were talking about the necessity of their again resorting to short time, in consequence of the high price ot the raw material, andthe coatinaed depression of their trade. Tt was expected in London that the Bank of England would determine on a further reduction in its rate of discount, but no alteration was an- nounced on the separation of the directors, on the 20th ult. The Augsburg Gazette, of the 16th ult., states that the latest accounts from Kome represent Lord Minto and Mr. Abercromby to be actively engaged in favoring and exciting the Italian clubs. Arms were being received from Malta, with, it is insinuated, the connivance of British consuls. Additional failures had taken place at Frank- fort. Our correspondent in London sends us the fol- lowing intelligence relative to the arrival of specie at that port from Russia: — Lonpon, Janusry 21, 1848, There is a report on ‘change that the gold placed in the bank, witbin a few days, from Russia, is to be pre- sented to Mr. Burrows, a New York merchant. It is said that in 1831, during the Polish war, the emperor had asbip-of-war in New York, and when it was impossibleto get her to cca, for want of means, Mr. Burrows, to pro- teot the emperor's interests, stepped forward, mortgaged all his property, and sent the ship to the Caer. It is stated that this was done by Mr Barrows without com- pensation. and that he wan left without receiving his advances for along time. He suffered bh = buriness during this time, but was Lemp gf lessre. Barings Brothers & Co It is now said the a ‘havin; Cone d this ae ted seventeen years, is now al show that he never forgets conduct towards his person‘and his country. re The failures of M. A. Baert, and of Messrs. ® Heidelber, erchants, of Frankfort, dealing largely in British manufactures, will be severely telt in the manufacturing districts of Lance: shire and Yorkshire. The liabilities of M. Maynz, who failed at the same time, are esti- mated at only 100,000 thalers. The state of the fe of M. Bekmer, drug merchant, was not now! The spirit of insubordination which so long pervaded the south and west of Ireland has late- y, it seems, manifested itself in the hitherto peaceable county of Wicklow. The army in Ireland 1s about being aug- mented. aa A so have already died of starvation in the ill-fated county of Mayo, which is, per- haps, the poorest in the province of Connaught. It.is said that the French government intend having a medal struck to commemorate the sur- render ot Abd-el-Kad er, The French ia ghee oe has decided that a emall pyramid shall beerected on the spot where the interview between Abd-el-Kader and the Duke d’Aumale took place, to perpetuate the me- mory of that event. The hand-loom weavers of Wigan are re- duced to creat poverty, consequent upon the pre- sent stagnation in trade. The Northern Italians are becoming excessive- ly impatient of the government, and even the influence of Austria. Fresh outbreaks have also taken place at Pisa and Genoa. The number of steamers that entered the port of Hamburgh in 1843, was 332, in 1845 it was bs 8 295, and in 1847 the number had increased to 410. ’ According to the Times, the astronomers of Pulkova have ascertained the existence of a third watellite of the planet Uranus. It is reported that the German Confederation have adopted the same view of the Swiss ques- tion as that taken by Lord Palmerston, and fave lared positively against intervention. A paragraph has been added, in the French Chamber ot Peers, to the answer to the speech from the crown, expressing approbation of the Pope’s reforms. M. Guizot consented to it very reluctantly. Our accounts from Madrid of the 7th Jan, state that General Espartero arrived early in the morning of that day, and thus avoided the de- monstration prepared to greet his return. The people, however, on heating of his arrival, re- paired to his residence, and rent the with deafening cries. “Three times,” says our let- ter, “the multitude have already burst into the house, determinéd to see their idol. ey rush- ed to his presence, they lifted the ground, fell at his feet, They rush: of these wild en Tooking fel "he andres. eanctere ried 1a Letters from Pari I nnounce the failure of M. Michel Bass, a banker. From Havre, also, we have the failure ef Messrs, Delaunay & Co., a highly Tespectable firm in the American trade, whose liabilities are stated at £80,000. At the Paris Bourse there appears to have been almost panic, without the precise reason being known. Se lon Times. The civil tribune cf the Seine have ordered that Mdlle, De Luzzi Despartes shall receive the legacy of 3,000 francs a year, left her by the will of the Duke de Praslin; and also 4,000 francs which she had deposited with the Duke, and “a great variety of other articles which she claimed. Letters from Rome of the 10th ult., announce that the spenescaat cabinet was composed as fol- lows:—Cardinal Ferretti, President of the Coun- cil and Minister for Foreign Affairs; Monsignor Amici, Minister of the Interior; Cardinal Mezzo- fanti, of Public Instruction; Monsignor Roberti, of Justice; Monsignor Morichini, of Finance; Cardinal Riario, of Commerce, 4p etd an Fine Arts; Cardinal Massimo, of Public Works; Monsignar Ruscoin, of War; Monsignor Savelli, of Police. According to the almanac for 1843, peel hed by the academy of St. Petersburg, Ru in urope contains a surface of 90,117 square miles, with a population of 54,092,000 individuals; the kingdom of Poland an extent of 2320 square miles, with 4,850,000 inhabitants, and the grand Duchy of Finland, 6344 square miles, with 1,547,702 inhabitants. The Swiss Diet has voted a sword of honor pe a t of 40,000 Swiss francs to General Du- four, fqr his conduct in the recent campaign against the Sonderbund. Treviso is in full insurrection, and Bergamo and Brescia greatly agitated. Dr. Locock, the Queen’s accoucher, is the me- dical man who has returned his professional in- come at £30,000 a year for taxation. Dr. Lo- cock expects a baronetcy after his next attend- ance for an interesting event at the palace. The death of the author {of the ‘Curiosities of Literature,” the father of Mr. Benjamin D'Is- raeli, has been announced. The Monastery of St. Bernard, which has been known for centuries to all Europe, by the piety, courage, and benevolence of its hardy in- mates, has not escaped the ravages and plunder of the radical party in Switzerland—between which kingdom and the Sardinian dominions it is situated. Although its inmates belonged to areligious order against which no political ac- cusation had ever been preferred, by a decree of the 2d of December it was Meccan or its eccle- siastical patronage, and sentenced to pay a fine of five thousand pounds sterling. In vain the monks declared that the exaction of such a sum would be their ruin, and that it would put an end to the hospitality which their house exercised for 850 years; the federal diet was inexorable, and on the 18th of December, at two o’clock in the morning, certain federal commissaries and a bo- dy of armed soldiers entered the monastery, and taking an inventory of all the goods and chattels which it contained, established a military garri- son within its ancient walls. Against this act of aggression the monks have entered a solemn protest, but what effect that is likely to produce ve us public of Europe remains yet to be ascer- ained. CommerctaL Cxists in Germany.—There is a commercial crisis at the present moment in Ger- many, though on a comparatively small scale.— The recent failures at Frankfort have caused considerable losses to some Vienna houses, in one case attended with lamentable results, the principle partner of a respectable firm (one of the sufferers) having put an end to his existence by cutting his throat. The detection of a fraud, which rumor greatly exaggerated at first, has also been discovered at Vienna, the proprietor of alarge leather manufactory having torged bills toa large amount. The loss, however, does-not exceed £5,000, and falls chiefly on the bank.— The stoppage of the firm of Haber & Co., at Ci uhe, though but momentary, has added to the panic, and there is a visible fall in the funds on the different German exchanges. A letter from Carlsrshe, of the 8th, announces that the roireocntstives of the firms of Euliagen and ver tesrear waited on that day on the Minister of Finance ot the Grand Duchy, who assured them that the government would take measures to enuble them to continue operations. No less than three German papere-attribute the suspen- sion of Messrs. Haber to alleged machinations on the part of the Rothschilds; and the Frankfort branch of this latter firm has thought fit to pub- lish a denial of the assertion. The assertion originated in a Baden journal. Mesers. Roths- child, of Frankfort, deny that Haber ever opened a credit account with them, and consequently it was impossible they could have closed it.—Zon- don Chronicle. Srorraar or rag Frencu Matt Packer Srr- VICE BETWEEN Havre pg Grace aND New York. —Yesterday, information was received at the General Post Offic-, St. Martin’s-le-Grand, from the Directer-General of the French post office, that it had been found temporarily necessary to suspend the packet service recently established between Havre and New York. Notice was given that no letters, &c., will, therefore, be transmitted from this country for despatch by this line of packet until further notice. Tse Iron Trapg.—Birmiogham, January 20.—Rumors of another embarrassthent in the iron trade have been current to-day, The “Factory Works” at Tipton are those now referred to; and the difficulties into which the partners have fallen have arisen from the ex- penditure of many thousands of pounds, in ex- tending the works, and the occurrence of the present disastrous times so soon as these were completed. There are one or two otherfailures announced in the district, connected with the iron trade, but these are not important. R&VBNUES FROM INDIRECT TAXATION IN France. —The Moniteur publishes the comparative state of the indirect revenues for the year 1847, with those of 1845 and 1846, It results, from these re- turns, that there is a general decrease on the in- direct revenues of 1847, amounting to 2,648,000 francs, compared with 1846. The increase ot the sundry branches of the revenue amounts to 23,- 763,000 francs, and the decrease to. 28,411,000 francs. The augmentations are divided as fol- lows :— stamps, and mortyage. Enregisteri: Colonial vow D pon salt. +10,0000,00f. + 4412000 +++ 4,967,000 Duty upon the refiming of sugar. ....... 5,694,000 Pa fase of the sale of tobacco, . 000 se eeees 1645 The decrease of produce falls upon the follow- ing items :— juty on corn customs. + eee 5,971,000fe, Sundry wares. .... 12,000,000 Navigation daty... ++ 716,000 Duty on liquors...» + 1,150'000 Sundry duti-s seeee + 1,830,000 Produce of the Post-offies. + 900,000 Arvairs or Tux River PLate.—The simulta- neous departure for Rio of a _war-steamer from France, with the Prince de Joinville on board, and of an Hnglish vessel of the same class, the Hydra, from Plymouth, looks as if the two go- vernments, Ang Franco, were really determin- ed to put an end to the petty warfare in the river Plate, where things have become more compli- cated than ever, trom the French Commodore having taken possession of several yessels under the Brazilian and other flags, which had dis- charged their cargoes in the Argentine ports, without having first called and paid toll at Monte Video. In consequence of this measure, Rosas has interdicted the landing of any foreign goods, produce, or merchandize, in the ports under his Jurisdietion, coming trom Monte Video. The trade on the river is, therefore, in a most disor- Ganised and dilapidated state. Our merchants, shipowners, and manufacturers interested in the commercial transactions with the states situated within the river and its “tributaries, are, of course, anxious to avail themselves of every o portunity of correepoading with their agents and friends at both Buenos Ayres and Monte Video, and even with the Brazils, through which channel the most recent advices from the Rivet Plate are received. It accordingly, to be re- gretted that our admiralty had not made some notification or communication through the post office, of the intended departure of the Hydra for Rio de Janeiro, and allowed letters or a imail to be taken out by her, more particularly when the present Late and obsolete manner of convey- ing the post-office mails by admiralty sailing boats is taken inio due consideration. ‘They The manage these things better in France,” intended departure of a steamer with the Prince de Joinville has for some time been announced to the mercantile interest in tha:country,who will consequently be enabled to avail themselves of the opportunity to transmit their correspondence to Rio and the adjacent places. It is, indeed, more than probable that many of our Engli houses will Profit of the means afforded theta ters, b; ys Fren ve: i) steamer, te arrived out in 31 days, with letters from this country of 23 days later date than those sent by tie Express packet !—London News, Jan. 1. Our Relations with Mexico, {from the London Chronicle } ‘The fate of unhappy Mexico stil! hangs in the balance. If could be obtained, now. on avy thing like equitable condition the Mexican people might, perhsps, zones to valuable account the severe lessons they ve receiv: If the soe which they have incur- series which they now endure, did but telligent and patriotic among them to inquire into the real causes of the weakness which has left them at the mercy of a rapacious foe, there might be a hope that when peace was restored their leading men would applv the mselves to find a remedy fox a national debility which is almost unexampled in history. ‘The causes of so extraordinary a paralysis of all that constitutes trength or contributes te the defence of & people, must be toa great extent exceptional. The bsence of all effective co-operation for nation: nce everal States?as well as between the various iety, must mainly be attributed to the de- gteeto which party dissensions and p-rsonal rivalries {flamed the minds of all who engeged in the struggles for power which ensued after the separation of the colo- nies from the parent State. The frightful consequences of such an anarchical condition of society have now been brought home to the experience of all ‘The course which public opinion iu the United States will take, a8 regards the continuance of the war, depends of contingencies, of which it is impossible to conjecture the result. The prids and passions of the people are enlisted in favor of the war, and of course no pains will be spared by the leaders of the de- mooratio party to ¢: rate those prejudices as much es possible. On the ir hand, some of the most emi- nen‘ men in the States have opposed, ia the most car- nest and dignified mamner,the continuance of the war om any pretext j.and the whig party gene- rally seem disposed to give them as hearty @ support as is consistent with their wish not to damage the o! of the whig candidat» for the presidency. The balance ie ty nearly equal. hould the monetary bge ties which has commenced in New York grow much more severe, or last for any | length of time, it will in all probability decide the ques- tion in favor of peace. Even with the prospect of work- ing, for the benefit of the Washington tressary, the sil ver mines of Zacatecas, which 4000 men have been or | were about to be despatched to seize, we apprehend that both the actual losses incurred by the war, and the de- rangement of the financial operations of the country, | which it threatens to produce, will prove too much for | Jonathan’s patience, supposing him hampered at the seme time with the comfortable consequences of a crisis of that violence and intensity which are inseparable from ® commercialcrash in such a go-ahead country. The fellacy of the hope that the war can be made to pay its own expenses, will be demonstrated speedily enough. And that illusion once dispelled, common sense may be expected to regain its ascendency in the Ameri- can councils. The indisposition to pay new taxes is sometimes much more powerfulin those who are lightly | than in those who are heavily taxed. We fancy it will ve so with Jonathan. He will estimate the demand for new supplies ‘with reference not to what he could afford, but to what he has been in the habit of paying And the proposal to double or treble the amount which they already pay for state purposes—and a less addition would not defray the charge of Mr. Polk’s maguificent designs—will, once it is brought tangibly before them, soon cure the American people of that warlike mania which, after all, it will perhaps prove beneficial in the end that they have hadi an opportunity of indulging with comparatively #0 little injury to the prospects of bunealty, or detriment to the peace of the world geone- rally. The Progress of Morality In Bavaria—Petticoat Government and Lota Montes, A letter from Munich, in the Patrir, says,—It ap- | Pears that Lola Montes is incressing in favorat the court of Bavat The Qi bas conferred on ber the order | of &t. Theresa, “My dear Countess,” aud admits her into her intimacy. ‘T! dies of the o course, feelit their duty to caress tne fact, she bas ali the her feet. The style of lax- ury in which she lives p: all bounds, nothing equal to it having ever been seen at Munich, mm in the royal palaces. The whole of her slseping chamber, even the walls and ceiling. ig huog with guipure, jined with rose- colored satin. rmantle-pisoe is of Sevres porcelain, painted by the first artists ‘I'he furniture isof the time of Louis XV., enriched with gold and silver. A desorip- tion of her dining room would exceed those in the Ara- bian Nights’ Entertainments, and we chall content our- selves with stating, that the service is of massive gold, bearing the arms and coronet of the countess. To this ® revenue of 150,000f, which is attached to her of which nothing can deprive her. [From Frazer's Magazios of January ] | As a political character, Lola Montes holds an impor- | tant position in Bagpria, begides having agente god cor- | respondents in varitus courta of Buragg@wheking ge. nerally visits her in the morning, from éleven to twelve, or one o'clock; sometimes she is summoned to the pa- lave to consult with him or witli the ministers, on state affairs. [tis probable, that during her habits of inti- macy with some of the principal political writers in Paris, she acquired that knowledge of politics and {o eavres of diplomat! and states she now tures to advantage in her sphere of acti foreign politics she seems to have very clear idea: her novel and powerful mode of expressii great charm for the king, who has himself a comprehen- sive mind. On the internal politics of Bavaria «he hes | the good seore not to rely upon her own judgment, but to consult those whose studies and occupations qualify them to afford information. For the ret is treated by the political of the country asa substantive power; and, h w much they may secretly rebel against her influence, they at lenes find it good policy to | acknowledge it. The last chavge of ministry, which | pleced Prince Wallenstein as been minister st the head of affairs, and Mr. Berx as minister of the interior, washer act. Whatever indiscretions eha may in other | respects commit, she always keeps ean, | therefore, be consulted, in perfect ty, im cases where her originel habits of thought render her of invaluable service. Acting under advice, which on- tiraly accords with the king’s own general principles, his mojesty has pledged himself to a course of steady but gradual improvement, which is caloulated to increase both the political freedom and the material prosperity of his kingdom, without risking that unity of power, which, in the present state of European affairs, is essen’ } to its protection and advancement. One thing in her | praise is, that though she really wields so much power, she never uses it either for the promotion of unworthy | persons. or, as other favorites have done, for corrupt purposes. ‘During her early career, long before her influ- ence or her position became consolidated, the most enor- mous and tempting offers were made toher to quit the country, and leave the field open to the displaced party. These were rejected with disdain; aud there is good reason to believe that political feeling influences her, not sordid considerations Her creation as Counters of Landefeldt, which has alienated from her some of her most honest liberal par pceves who wished her still to continue, in rank as well as in purposes, one of the peo- ple. while it has exasperated against her Eo nape jens, cause impoverished nobility—was the licited act of the king, legally effected with the consent of the crown prince. Without far upon a delicate subject, it may tl e is not re- garded with contempt or detestation by either the male | or female members of the royal family. She is regarded by ther as a ing’s favorite. Her by an estate of the name, with certain feudal privileg: and rights over some two thousand souls, who find no reason to complain of the change. Her income, includ- | ing @ recent addition from the king of twenty thousand florins per anoum, is seventy thousend florins, or little more than £5,000 In addition to this, she has private property of her own, in the English or French fands, « great portion of which consistsin shares in, we believe, | the Palais Royal at Paris, left her by Dujarrier in his | will, made on the day he went out to fight the duel which cost him his life. [From the Gazstte de Cologne, Dec. 20 ] She (Lola Montes,) gives invitations to parties of from twelve to fifteen studsnts to her dinners She afterwards obtains them free admission to the theatre; she fre- quents the taverns used by them, dressed in male attire, is ji title, and pays for ae much beer and punch as they can drink (God | only knows what a German student can swallow!) puts bonbons and sugar-plums into their mouths before all the company, and “blows them kissen’’ across the table! | Lately abe was the aliegod cause of one duel and several | equabbles between certain pretenders to her favor. She , has asserted thatthe taverns shall continue open until | one o’clock in the morning, and on this occasion threat- him di ened the director of police to ha May heaven preserve us ever from « Lola Montes! | Italy. ‘ The Paris Commerce, and ost of the other li- beral prints have the following from Turin, of | the 14th :— “The senguinsry struggle which took place at Pavia on the Sth between the troops and the students of the University, was renewed with more gravity the next day, Ten persons were killed, and forty wounded, the greater part being soldiers. ‘The University was closed, ands part of the students took refuge on the Swiss and Piedmoutere territories, A funeral mass was cele brated this morning in the church of the Grau Madre di Dio of this capital, for the persons massacred in the atrects of Milan. The population was present en masse at this cad ceremony. ‘The persous composing the diffe- rent clanses of rociety have assemblad in saveral places, and signed addreswes to the King, offering their property and their persons for the defence of the couotry The hereditary Prince of Parma arrived « few days ago nt Yarin He left yesterday evening for Parma, after hav- ing had an interview with the King. Heleft his wife here. The Duke Charles Ludovic has nominated his fon commander in-chief of the troops ot Parma and Pia- canta, and has dismissed the Austrian Minister Bombel- en”? A letter from Turin, of January 13, published by the Presse, says :— “ The new Duke of P.rma,the Duke of Modene, aud the Emperor of Austria, have just drawn tighter the bonds which already united theio, by « treaty at Mode- na stew daysbeck Having had the text of the treaty before me jor only & moment, it was impossible to copy it, but the principal conditions are—Firat, an offensive avd defenrive alliance between tho three States; second, & 0vs:oms unioncon cluded on the basis of the Zoleverein. It in useleen to speak of the importance of such « treaty, whieb, evidently, aims at striking with impuissance the famous Lega italiana. It remains to seen if the agitation werfully sed throughout Italy will ol NEW YORK, FRIDAY MORNING, FEBRUARY I, 1848. “The Latest Kuropean Commercial Reviews. [From the Liverpool Journal, Jan. 22,) There has been less buoyancy im the commercial world this week, owing probably to the news from Ame- rica and the continent; but there is no reason to re- gard the dullness otherwise than temporary. ‘The Paris money market has been seriously affected reports of the king’s health, but the alarm has sub- bi Our own money market has experienced slight fidotuations. On Thursday, consols for account closed at 877; 0 34, and yesterday at 877;. ‘The London share market yesterday was rather better; London and North ‘Western, 152 0 154; Midlanda, 114 2 116; Great Westera, 103; North Stafford, 1034 a 1034. ‘The Morning Chroni: le gives the following statement of bank issues weekly during the past month :— Bankof England (including post bills) . » £18.789,415 Private banks, England. . + 8.698.973 Joint-stock banks, Englond.... + 9,410,222 Banks in Ireland. + 6196116 Banks in Scotland. + 3,841,817 Average wetkly circulation of all the banks jn the United Kingdom during the past month...... se ateeee ++ + +833 265,343 On comparing the above with the returns for the pre- ceding month, we find # net decrease in the circulation, as compared with the amount at the 4th December last, of £2,225,500. And as com} with the corresponding period of last year, viz the 24 January, 1847, the returos show that there has been a net decrease of £6 334.502 in the amount of notes in circulation in the United Kingdom during the past year. The aver Kang 4 mounts of gold and silver coin and bullion Bela by the banks which are required to make retarns of specie on hand during the past month ending the 1st instant, have been as follows: — Bank of England, average amount of specie, £12,014,592 Banks in Ireland, ditto. . 618,760 Banke in Scotland, ditto. Average weekly amount of speoie held,. . .. .£14, ‘The changes in the amounts of specie held, on a com- ding periods of last month and Inst year, are as — Increase on Decreaseon Deere the month. the month. the year. Bank of England, £1,004 £3,069,018 Banks in Trelanc 27,990 = ‘989 552 Banks in Scotland. 276,340 Totals + + £1,832,317 25,384 4,334 610 Showing a net increase in the amount of bullion held during the month of £1,906 933, and a decrease of be pra ‘as compared with the corresponding period of last year. ‘These returns are exceeding interesting at this period, and throw much light on the working of the bank act, and on the value of ‘the different opinions offered on the subject of the fluctuation im the currency by the wit- nesses examined before the committees of the House of Commons on former occasions. Mesers: Stitt Brot! , in their annual iron circular, just printed, ‘he year 1847 has been a remarka- le period in the annals of commerce, and has left im- pressions behind it which will not be easily erased. It commenced with fair promise of success to the meroan- tilecommunity, and of comfortable employment for the operative classes, but hes an apes the expectations ot both, and been attended with an intensify and pro- longation of suffering such as has never before been ex- perienced. ‘The metal trade was not #0 early, nor has it been ao seriously affected by these causes as the other branches of industry, and throughout the yeer pri have been steady, and in general remunerative to th parties engaged ta it. Im consequence of the immen: demand for railway purposes, and comparatively hig! rice which has prevailed for some years, the production Bas fallen short of the requirements, and stocks, both at home aud abroad, have been reduoed to low point; for it is well to observe, that the very great demand for Inbor in all departments pr , fortunately, the in- great extent. Owing, how- rease of the make to af ever, to the inability of the railway companies to pro- ceed with their works, and to the interruption to both home and foreign trade by the derangement of monetary affairs, the prosperity of the iron trade reoei check towards the close of the year, and pri otined considerably in consequence. We will proceed to refer to the various branches more particularly, and give such information ascan be relied upon, which will, we think, be useful in forming an opinion as to the future. “Manufactured iron was in extensive demand until very recently. and prices have been remarkably steady throughout the year. Rails were purchesed largely, both for home consumption and export, and cccupiud many of the works, almost to the exolusion of other de- roriptionsof iron. The demand, however, fell off very much sbout Ootober, and the price which, at the begin- ning of the year was £9 10s per ton,bas deolined to £7 10s per ton. Bai e commanded an equal price, from the limited production, but have deolined in like proportion. Staffordshire bars, hoop, and sheets have been in active demand, and prices were firmly supported; but that distriet has alao at ast been affected by the depression, ‘and at the quarterly meeting of the trade, held yester- day, et-Birmiogham. ® reduction of 40s. per ton from. fhest prices of last quarter dey was agreed upon nce of a strike of the workmen against « re their little iron hes been made for some time in Staffords! and Shropshire (72 furnaces out of 164 are ssid to be out of blast); and should this continue much longer, the deficiency of aupply may pre- vent thie decline from being generally submitted to, and at present few parties will sell subject to it. “Our exports to the United States have increased very much during the past year, especially in the finer de- rcriptions of iron, affording a gratifying proof of the ad- vantage derived from freeing trade from hurtful restrie- tions. The shipments from Wales direct to the States, have also been much in advance of LA former year. To India our exports have sgain been light; as the stocks are now low, we may expect considerable shipments to be made There’ 60 soon as anactive business can be re- sumed with that country, but which is very much inter- rupted at present by the numerous failures which have taken placs. ‘“Sooteh pig iron has now become an important article in the motal trade, the make having increased within a few years, since the introduction of the hot blast, from about 40,000 to upwards of 600,000 tons per annum. The following table of the exports, stocks, and production, during recent years, has been computed from the most authentic sources :— Comranative Virw or Exrouts, Srocks, axp Proovc- Fiancee . 119.109 257,851 3187 285 Production, Brock ou hand, 31st December, 1216 this date, in Stores and Make: 1845. 1846, 1847, Furnaces in blest, 2ist Deo... 87 98 99 Furnaces out of blast, 3ist Dec . Phy pry 32 Total erected......112 122 13) Ané four new ones nearly ready. a { ‘ons Computed makoim 1647. «0. <4. .ceeseeee + + 040000 | Add stook 3tst December, 1846. . 144,300 634,800 | Exports asabsve. Stock this date. Leaving for malleable a consumption, &o., in 1847, , four found? 5 035 he prices in th the yea sot to “The the early part of the year were 758 778. $4 perigen (ond itis well to remember that the quotations for sh pig iron are for mixed numbers, and ter not cash payment. free on board st Glasgow ;) but uoder the influence of the pree- sure in the money market, causing forced sales of specu lative parcels, the price continued, with little interru tion, to decline Cay ope the year, until it reached present figure, which is lower then at any period since January, 1844, Whilst the make has not materially increased, the stock has declined about 59.000 tons, bt of which pee beyond from a lengthened strike of the workwwen, and the alteration of the gauge of the mineral railways. No causes of interruption are likely to coour this and make of 600,000 tons may, we think, be counted upcn ; for although the present low and ive prices will check an extension of works, It will stimulate in peesent circumstances the production of theworke alresdy in operation. The ex- peso tone knee 1847 exceed those of 1816 by 24,860 toma; wi coastwise they have decreased 30 846 decrease of total compare: of 6,491 tone A iJ fave ben Ot eeOn to us, having taken a large Frown 43 Desa of er othe hy tel to the Sxtanslon of malleable izen works in Scotland, and the immense demand for castings for railway pur- poses, the home ‘don hes until deen | very large, ‘not less than 6000 tous pér week A sudden fey es check has, bo' oben expr- rienced, and we estimate that about 3000 tons per week lees pig tron is now coaruming in Sootland alone, than there was in the early Fa) of last year; and in Eog- land the felting off has been also very serieus, smount- fog probably to over 2000 tons per week; whilst the ex- port to the continent for two or three months will be | barley, 93,887 qi | entered into. they were at any former period; and as this enters largely into the cost of production, it isan impo’ consideration in judging of the probability of an wavans in price.’ ‘The deputation from Lancashire, on the tea duties, had an interview with Lord John Russell and the Chancel sxohequi last. ‘The deputa- tion consisted of 1) Heywood, M. P ; Mr. Gardner, M. Messrs. Rathbone, Rawson, and oth ‘The deputation was introduced by E: Esq, M. P., and James Wilson, Esq , M. P. view lasted upwards of an hour, and the bers composing the deputation represented in strong | terms the numerous ways in which the present high rate | ot duty charged on tea fe inimical to the best interest of | commeroe, the comforts of the people, and the general productiveness of the revenue iteelf. Mr. Heywood stated that he had reoeived deputations from most of the principal manufacturing towns in Lan- cashire Yorkshire, urging him to represent to the government the necessity which existed for the abolition | of duties which so inaterially affected the interests of the laboring classes. Lord John Russell received the deputation with his usuel courtesy, and having heard thearguments address- ed to him, stated in reply that the question was purely | one of revenue, but refrained from holding out any hope that ths subject would be taken up by the government, with a view to the abolition so strongly urged upon him. | The deputation, after thanking his lordship for the | attention he had paid to their observations, retired, as understood, under the impression that they had | at any rate for the present, in the object fur which | terview bad be ght. | Mr. Cardwell bas written to the mayor, intimating | ministers have made up their minds on the tea du- at d that Lord John Russell is indisposed y more deputations. mercial news from America is not quite sa- Cotton was rather firmer, but breadstuffs There isan immense stock of Indian corn for subsequent shipment, and it was ex pected that cotton would now he exportad freely, mo- tight. and freights low. An incipient panic SES | | | Tl tisfactory. were deolining in price ported and exported in 1847, for | was only 8, 6 dollara, and ‘the | amount exported only 4,982,592, the country still hold- ing of the imported gold Ad4 dollars.” Sovereigns | Every dollar due to England had been | It is gratifying to learn that the American States are steadily improving in their flnancial resources, jord every promise of meeting the claims | por rly in the week that the Messrs. Leyland were about to discontinue their banking busi- nese, but we understand that they bave abandoned that intention, and purpose continu bank as usual. The creditors of Messrs. Bernard, Hartle: of Halifax, whose suspension we noticed two or three weeks ago, held # meeting on Friday, the 14th inst , to receive actatement of the affairs ‘Tho chair was taken by Raw- don Briggs, Esq. who detailed to the meeting, with great clearness, the position of the firm; when it was unani- mously resolved that the estate should be wound up un- der inspection; and Merers. Rawdon Briggs, James Bow- man and Henry Arkroyd, were appointed with the gene- ral consent of those present, who comprised more than three-fourths Of the whole number of creditors, and rep- resented a greater proportion of the amount of the debts. It was shown by the books thut three years back, Vessrs Hartley were possessed of a capital exceeding £50,000, and every expectation exists of a favorable termination of the estate, ‘The utmost confidence was expressed in the honor of the firm, and the warmest sympatby uador their misfortunes, while their oredit was admitted never tohave stood higher than at the moment of thelr sus | pension. [From the Liverpool Mall. Jan. Business continues to improve gradually, usit has done inn limited degree from the commencement of the yeur; and the benefits of returning confidence ate in course of | gratifying developement ‘There has been an increased demund for all kinds of foreign and colonial produce, in dicating @ more general consumption,and revival of pros- perity Prices are, however, stili very low; and it in ex pected that the ensuiog reason will ud them little al- tered, aa the supply wili be abundant of overy articl» which may be in requisition. These are the anticipa- tions of experienced beads on Change. We hope they may be realized Ihe cotton market, on Monday, was somewhat influ- eneed by the accounts from America, received per the Steamer, which arrived on Sunday afternoon ‘The de- mand increased to 6000 bates, which sold at full prices, aad in some instances at ‘sd higher than the business of the previous week. ‘The gloom and depression which prevailed ia the Manchester market on the fullowing Gay, and the probability of its coutiauance, completely upstt this advantage,aud repressed the upward beating of the market. We rave rather lost ground since that time, and closs the week with the better eorts of Ainerioun as not very saloablo at Sd. deeline, aud the middling and lower ities bare.y 8: the quotations of lest wee! ther kinds are withoat alteration ‘The very light stock, certainty of ssmall supply for some time tooome, with low prices, do not seem to tell agaiust that itive want of Toney which is felt in every quarter. ‘The sales of the week were 28, 710 bales, of which 100 Sarats have been fatten on speculation, and 108 American for export. The sales to-day amount to about 4000 bales. The commit- for fair cotton are :— Bowed, 434; Mo- Orleans, 4754. ‘The imports this week , 39.950 en this ye by exporters @, 51,410 bales, those previously received ; the most san- @ inaterially reduced their estimates of the pro- bable yield, which may not eventually exceed 2,200,000 bales. The low prices ruling at the portsare influencing planters to keep the cotton in the interior of th and consequently the arri tauch below those of last year to U ble purohases have been madi Northern States, France and the Continent,but very little for Great Britain. The imports into this country will for some time to come be on a limited scale, and we nisy ex- pect to see the stocks in Liverpool reduced. In the Liverpool corn market,on Tuesday, there was @ good attendance of the town and neighboring millers, who hought to s moderately fair extent at a decline of 4a. per bushel on new, and 3d. per bushel on old wheat from the previous Tuesday's rates. Flour also was 1s. barrel lower, 298. per barrel being taken for the best tern Canal, Oats were ld. per bushel, beans and Indian corn each fully 1s. demand has increased wit Saused fees taquity for bol caused lees inquiry for boiling peas. ‘There bas been little change in the value of grain the last two days, and the transactions have been rather Imited. At this morning’s market the business was not | large, but there was a firmer feeling in the trad ly, and the decline seems to be checked. Wh: 5 and flour, brought Tuesday’s prices, and on Indian corp an advance of 1s per quarter, and on indian corn mes! 6d per barrel was obtained. | ‘he imports of foreign joultural produce into Li- verpool, from the 14th to the 20th instant, are—7,632 quarters wheat; 9,469 quarters beans; 11 dian corn; 1,710 barrels Indian meal; 7,67 tierces rice. The imports from Ireland 936 quarters, 2,982 barrels, 951 sacks flowr; 285 tons, 1,278 quarters, 566 sac! 5 4659 sacks oatmeal; 5 tons rice; 14 tons, 85 sacks 3 — 62 sacks, 200 barrels peas; 250 quarters, 43 bags barle: Tevurns of grain as taken from the Gazettefor the January, 1948: —Whi 105,184 « ; onts, 24.012 ara; rye, 127 qts; bean! 4,363 qre: 1,171 aes. i ‘As regards the American grain and flour market, the acoounte by the steamer eay that “ no change of impor- tance has taken place since the sailing of the Britannia steamer of the 15th instant.” | In the Liverpool wool market there is a slightly im- roved feeling, and rather more business has been dot Bat we are yet without anything like an active demand. Leid Highland, which is scarce, bas been sold at prices varying from 59. 6d. to 6s. 3d. per 24 lbs. Imports du- ring the past week—Peru, 40 bags; Irish, 167 bage Sooteh, 452 bi ‘The timber er quarter cheaper; bat the the decline in price. Barley The late open weather has | week ending 15tl 3 je here during the last week has been a | little brisker than for some time past, but prices do not advance. The stocks of American and Baltic woods | are much lighter thau usual at this period of the year, the imports for the year being considered closed on the Sist iostent. During the week, a cargo of Que- beo pine has been sold from the yard ut 134d foot. A cargo of St. John pine, is ine! at 154d per foot,and the spruce de foot of 2 inches. A cargo of Miramichi pine and spruce Ie of fair quality at £8 per standard, and about 400 athurat yellow pine deals of good quality, part yarded, at £0 7s. 64. per standard. Two cargors of greenheart snd morra wood have been sold, but the price has not trenspired. We subjoin a statement of the imports and stocks of , in this port, for the last two years, inclusive, mption during the years 1846 and 1847:—- | trade of Birmingham romainsunalterod amidst t! | tures there is an utter stags | tio againat the nereadar in the ovarss of this week that {9 conaeectioa with firms n involved, and the failures exoaedingly however, arrangements have been oh confine the failure to the whove firm, and the obligations fortunately to under £10000. 1 the suspension of the above house three oth would ha udes and trials of the grwat commercial crisis, afford- evidence of the prudence and forethought of the manufacturers [a some departments of fancy manufac. ation, but this arises feom the impossibility of eompating with continental prices ‘The advices by ths Hibernia aro, however, angthiag but encouraglag ‘The joint stock banka are understood tobe still vary Mberal,not only in their rates of discount to their ov tomers, but alo to thoas partics who place money under their care at call, the rate for which is four per cent, ys’ notice of withdrawal ; but the failures inspixe considerable cau’ion A/Uditional us ti place at Frankfort, and he the banking-house of Mossrs’ Kax Co, has closed, T'nera haya beon no new failures 2 London or Liverpool, but great uneasiness prevails in Glasgow. The astun! liabilities of Gilmore aad Kerr ara found to bs £94000, w fia the astets will soaresly give a dividend of 6s. in tho pound. ‘The assets of Waddell & Co, will permit of a dividend of about Gs, or probably 74. bat more likely the former mm. A second dividend of 39 44. in the pound, making altogether 101, has been declared, payabie on the 15th nad 16th of February next, under the estate of Messrs, W and J. Woodley, corn- factors, and @ favorable liquidation Is ultimately ex- peoted. Letters from Paris report an improved fealing. M. Mi- ohel Bass has resumed payment ‘Specie continues to arrive in private vessels, consigned to our leading houses, The amount of Bank of England notes in aciual circulation in the week ending Saturday, Jan 8 including seven days’ and other bills, wan £19,- 407.749, an increase during the woek of £677,395; the amount of gold and silver coin and bullion in the hands of the bank, £12 579,261, an increase of £174.11 Gold is 060 per cont. dearer in London than in Paris, end | 14 per cent dearer in London than in Hamburg. ‘Tho foreign exobanges were quoted in London on | Tueadsy afternoon, for three monvha’ bills, as follows: — Ey Ameterdain, Antwerp. 26 5; to; Hamburg, 13 14!¢ to 14%; Franktort, 123), aud ‘Teiente, 10 19 to 21, ‘These rates exhibit no material al- teration, compared with last post day Daten to the 23.1of November, from Rio Janeiro, have come tohand. Freights there were at 70. Exchange was nowinal at 273¢d. to 27% Letters have been received from Pernambuco, to the 2ad December. The co.ton market was tolerably welt | supplied, and, in consequence of the continued dinas- trous accounts from Lome, prices had fallen to digd to 64d, at which the articles were ia somo requeat. No Bugurs of the old crop left; the supply of new, in bags, increased daily, but of cases the arrivals were yet small. ‘The price of whites, ia bags, opened at 2 dirs. 290 to 2 dirs. 300 pr arr. for common assortments; musoovados at I dir. 750 tol dir. 700. Cases whites at 1 dir. 900 rs. pr arr. a. f; muscovados at 900 to 800c4. At ths quotations there wore atill buyers, as se- veral cargoes had to be completed before the Christmas holidays, Freights:—Cotton to Liverpool, % and 5 per lb; sugar, ballast 30s aud 6 for cases, 15 less for bags. ‘I'wo first-class Hoglish vessels had obtained 508 to bls and 5 for sugar, in bags, 15 higher — Exchance had advanced to 28d, at which it waa firm, and would, no doubt, have gone higher, but owing to the accounts from Evgland, it had receded to 27544 to 27d, closing at the latter rate. With the least more cheering accounts from home, it would advance, as mo- ney was by no means abundant, and would be much wanted in the month ‘The Sydney advices, @ day or two later than those previously published, notice « further advance in the va- lus of grain, owing to shor’ supplies, and wheat was quoted 58 94 per bushel. The weather was not altoge- ther favorable to agricultural pursuits. Financial Affairs. Loxpos Moxey Maaxer, Jan 21, 2 P. M—Th counts received from Paris by the mowning mai nouueing the reception of the deputation from th ber of Peers uy the King. with the address in a the royal eperch, has produced more confidence respect- ing the improvement of bis health. This is a sutj-ct to which xreat importance is uttached in the mon-yed circles, and the account has given an additional degree of firmness to public securiti ‘Lhe weekly returns of circ: ion of the banks of issue in the United Kingdom, as putlished in the London and Dublin Gazettes, when added together, «fford the means of ascertaining the average weetly circulation of these banks during tbe past month, which, in round numbers, has been as follows : — ‘ ; i‘ Tho bw'lion held by the several bauks at the present, time, as compared with last month, shows an increase of upwards of £1 800,000, and ua compared with last year, a decrease of upwards of £4 334,000, To w certain extent the lurge reduction in the bank note circulation, compared with the same period of last i8 ® pretty good index of the prostrate ataie of bu- ‘Were it possible, however, to obtain anything 1 bills of exchange in circulati contrast would, doubtless, Consols commenced for the account at 8745, alterwards advanced to %,and are now sellers at ¢. ‘A consideta- ie amount of business bas been trausactwed both for mo~ ney and the account. The prioes for immediate transfor continues the same as for the account The Three Per Cent Reduced baye been done from 8734 to; the Three- and-#-Quartor Per Conts $354, 24; Bank Stock 198%; Ex- ohequer Bills rematn at 25, 2/, aud India Bonds are 14 to 17 premium, ‘Lhe transactions in foreign securities have scarcely been £0 extensive, as they were yesterday. 'rices, however, are nearly the eaume where business has beep done, with the exception of Dutch Stocks, which are rather lower. Spanish Three per Cents 29%, Portu- guese Five per Cents 73, Peruvian 39, Venezuelan 38, Dutch Two-a-Half per Cents and the Four per Cont Certificates 84% to 85. The Railw: market has ‘been inactive, but without any variation in prices requiring special remark. ‘Lunes.—Consols for Accouns ach more astonishing from Germany this long established house of Alexander Baart, at Frankfort, orniog, (London, Jan. 18) is one of them; M. Hoffman, produce merchant, ano- ther, But that which may, perhaps, produce the gravest effect, is the stoppage of M Maintz, of Offenbs Frankfort. On the other hand, it is learn that the house of Kuvel and Co., wh ments were recently reported, has been enabled to re- sume payments A correspondeat of the Gazette de Cologne states that during the year 1847 (here were 226 failures in Hamburg and the suburbs, The commercial crisis in England is ‘assigned as the principal cause of this augmentation in the number of commercial disasters — ‘The writer prognosticates uo improvement, but the verse, iu the present year. He auticipates, more espe- y, the apread of insolvency among the speculators in wads and buildings. Since the great fire of Hamburg, he observes, the rents and prices of lands and houses had been run up to an extravagant height, by means of loans and mortgages in aid of speculation. Now that (the values of these classes of property are falling, loans are being called in,which, as the specula- le to redeem, conciud ith the proper- ties being put up at public auction. There had been already 12) of these auction sales at Hamburg last year. Loxvon Money Manxet, Jan. 17—Two o’clook—Our stock market has worn rather a heavy appearance, although we have bad an active business in consola at 87 to % for money ani time, ia the early part of tho morning. Prices are now better, at 87's to A<, but with fewer transactions. ‘Ths funds come lower both from Paris and Amsterdam. which is one cause of the duliness of the market here, Reduced ‘Three, 57)s to 2g. Three and 8 quarter per cents, 88), to #;. Exchequer Bills 29s to 27s premium. Bank Stocks 1! to7. ‘The Hibernia brought £90,000 ta gold; and other large remittances of the precious metals have been received from the States and from the Continent of Europe If | abundance of gold in the celiers of the bank cam make the country prosperous it certainly ought to proeper, for every week shows an increase of the previously large ao- cumulatio: Jan. 16 turday Evening—A despatch from St. Pe- tersburg, 0 we brougat £100,000 in gold to the bi It is also understood that some large sums in gold may be expected from Paris within s day or two. The hank already full, is therefore coming toa state of overflow. ‘The builion people, like Mr. Samuet Jones Loyd, will of couree, jaterpret this golden acon mulation as the indubitable signal of banking .#ud na- prosperty, ma/eré the prostrate of creditand industry. People of one idea can recognise no values exceptin the gilded sba) Commodities, fabrics, pro- ducts, foreign exchanges, all go for nothing unless re- duced into tangible bank notes, or more tangible sover eigas, [t may serve ro throw some light upon the results ot thelabor of other committees on the currency laws, which the evidence of Mr. Loyd, Mr. Norman, and otbers is supposed so much, and so justly, accord bert to have influenced, to e'ate the simple fot ing-boure of Jones Loyd & Lo, sh DoRe N01 ealtby, or conducted with great- sta in the United Kiagdom, bas actu- in foreign exchange, nor auy correspond. 8 of money interests with foreign backing houses How then cau the house, or soy pattner there- of, comprehend praciicaily the workiag of foreign ex- changes, constituting, as they do. a most important ele~ in the monvtary economy of the country at all nm, — Imports. Stocks. Consumption. | Jau.t Jaw t Dec.3t Dee $i to to «186. 1817, 46,1817, Dee. 31 Deo.3t 1896, 1847 13,728 22,454 15576 13.170 14885 24 860 Tehaboe. nose none 14629 6799 34715 7839! Saldanha Bay 800 none 10.927 9.280 4678 (5,697 Patagonian... 7 2 5291 170-2698 4391 22513 26,028 28,660 56, 42787 | A meeting of the creditors of Meas Bernard, Hart- | ley and Co,, of Halifax, was held yesterday week, at their cfhcen, which was attended by three fourths in number, and a large proportion in amount, and the remainder have since given in their adhesion to the arrangements Rawdon Briggs, Eq, wasin the chair. The accounts presented to (he meeting were clear, and showed the firm to have been in possession of a capital back. The utmost una- pimity and good feeling prevailed, and the kindest sym- pathy was manifested towards the partners, who received oredit from all present for high integrity and honorable conduct. The resolutions werewsrried unanimously ond it waa resolved to wind up the estate under the in- spection of three of the principal creditors, and a favor- this realisation is looked for, The iron masters of South Shropshire have adopted and confirmed the reduction of prices declared by the manvt of South Staffordshire, fom ined to maintain their strike. suspended season of the year We, therefore, calculate an stiom of stook for some time x come, alt ‘ively low price may in- woe eras: | and from the opeuing of Lusi a | The market closed as fellows: | nish Threes, 294 ; Spaoieh F Che bullion’ people bave been reminded tims oe ‘of soind that geld atone does not constitute vaiue; that notes may be of equal worth as @ repressatative sign; that the only real values are those represented by indigenous or fabricated products, But the lesson is lost. Panis Bounss, Thursday, Jan, 20.—The account given by the Journal des D bets of this morsing reiativeto tho King’s health, and the fact of his Majesty having reee! ved the deputation of the Chamber of Pvers with tus Address, have tended to remove much of the g!oom which has for the lust few days been hangin he merket, on the mengiog baad. ‘Thre fem at 780950 ; Fi ex Cents, for casb, ¢ Conte, for casi, Loan,75; Bank of 1 500 ex div. ; Spa- 73f 850 ; for account, 73199 1151 95¢ ; for xecount, Llof de France Shares 3180(; Neapoli ‘Tue Panis Bourse Paxic—Pants, Jan, 17.16 wewd seem that we have not seen the worst oa the Bours ‘The bears will have s fallat any Peg Taey sucorednd & Son, iron and coel masters, « die: ving become unable Wo meet their lay bes boon isued terday La b down the pet ospte from 14f fo to 78 700 om tbe Bouree, and subsequently to 78 it