The New York Herald Newspaper, December 5, 1857, Page 1

THE NEW YORK HERALD. a = —~ oe WHOLE NO. 7765. THE EUROPEAN MAILS. The Financial Pressure in Engiand and France. THE ASSISTANCE GRANTED TO GEO. PEABODY & CO, ANOTHER LARGE AMERICAN HOUSE RELIEVED, &e., &e &e, ‘The America’s mails arrived in this city last evening. ‘The tmtest Paris and London papers are of the evening of the 90th, and Giverpool of the 21st ult. ‘The Paris Pays of the 18th ultimo, contradicts the ver- sion given by an English journal of a differeace which occured at ‘Shanghae between the consuls of France and the United States. It appears shat in consequence of the scarcity of provisions at Shanghae regulations were agreed ‘upon betecen the various foreignagents and the European Custom ‘House officers, limiting the exportation of rice within certain quantities. A French vessel, laden with rice, Being about to leave the port, the United States Con- Sul thought fit to oppose its departure; but our represen- tative having appealed to the European commission, tt ‘was ascertained that the vessel did not contain more than the permitted quantity, and she was allowed to sail, The affair was of trivial unportance, and did not result in any interruption of the friendly relations between the consuls. ‘The following is a list of the missionaries known to have been killed since the commencement of the mutiny in India :— Rev. W. H. Haycock.. . Rey. H. Cockey.. -Propag. Soc. . do Rev. J. E. Freeman Am. Pres Mis. Rey, D. E. Campell.,.. do, Rev. A. 0. Johnson do. Rev. R. Macmullin. a, ihe Rev. T. Mackay... ‘Bap. Mis. Soc. Kev. A. R. Hubbard. :Propag. Soc. Rev. D. Sandys. Rev. R. Hunter, Rev. J. Maccallum. ey: Ladies and children killed Mrs. Haycock, Mra. Cockey, Mrs, Freemen, Mrs. Campbell, with two children; Mrs. Jobnson, Mrs. Macmullin, Mrs. Hunter, Mrs. Thompson, ‘ef Delhi, widow of the Rey. T. Thompson; Miss Thomp- son, Miss Grace Thompson. The mission property des- troyed is estimated at the value of £70,800, Of this heavy loss, by far the greater portion falls upon the English Church Missionary Society, and the American Presbyterian Mission. The former loses £32,000, and the latter £26,000. Gen. de la Concha, the Governor of Cuba, has sent to Madrid a most satisfactory account of financial receipts. Despatches were received in Paris on the 17th ultimo from the Admira] commanding the French fleet on the South American station, announcing that the state of the Dominican republic was such that the Admiral found it necessary to interfere for the protection of the French resi- dents. ‘The following caution to emigrants proceeding to St. Do- mingo appears in the Paris Momiteur:— A certain number of emigrants lately left France for St. Domingo, and another departure has been announced. |The accounts received as to the position of the first being favorable, French colonists will act wisely tn ing thelr Intention of establishing themselves in th Bt. Domingo. THE MONEY CRISIS. The Assistance to Geo, Peabody & Co,—More Ald to American Houses—Names of the Sus, pended Merchants, &c., &c., de. ett THE LONDON MONEY MARKET. {From the London Tymes, (City Article,) Nov. 19.] ‘The applicatious at the Bank of England for discount in- @rease rather than diminish, and the es arate again been seriously extended; but the public have abun- dant supplies of money for investment, and the funds show undiminished firmness. Consols for money, which advanced after regular hours last evening to 893, a 895, were first quoted 89; a 8915, whence they improved to 8045 a 89%. Ultimately, although the quotations were ‘again 89%, a 893, for money, and 8974 for the 7th Decom. der, the market presented a very good appearance. There was no particular pressure for loans on government sevu- rites. and the rate ranged between 5 and 10 per cent. Bank stock left off at 112 a 214; India stock, 211 a 214; In dia bonds, 45¢. a 35s. discount. ‘The demand at the bank W-day was extraordinarily heavy, but it must be remembered that the notes thus obtained are paid into the various banks with whom the discounters keep accounts, and that at the end of the day these banks pay them into the Bank of England, so that, ander certain circumstances, it is quite possible for an enormous quantity to be put forth by that establishmen ‘without its sustaining any ultimate diminution of its stock It is only when notes Or gold are drawn out to strengthen the reserves of provincial bankers, or when gold ts taken for exportation, that the resources of the Bank of Engiand are impaired, and the peril in these respects is now sub. skling. The run in Scotland appears to have entirely ceased, and a further total of 100,000 sovereigns was re ceived thence this merning. From Ireland the reports are so far favorable that it is not thought any addi tion will be required to the large sums already gent there. In this country the stoppage of the Wolverhampton and Staffordshire Banking Company may Jead to xome increased precautions on the part of local es- tablishments, but it is believed that in most cases ample Provision against emergencies has been made for several weeks past. With regard to the foreign drain, not only is it for the moment ely checked, but we are beginning to enjoy the benefit of such arrivals as take place. To the Kast the shipment on mercantile account by the packet of the 20th instead of being £800,000, in accordance with the ordinary scale thronghout the greater part of the year, ‘Will be only £68,000, Meanwhile some gold arrivals from. Avatralia and Russia ha: ind their way to-day to the bank, and from both quarters further amounts are imme- diately expected. From New York also, it is thought, re- mittances will now again be received by each steamer. Baltic this afternoon has broughta moderate sum, and the Persia is looked for on Saturday with a com paratively consi ble total. Under these circumstances: ‘an improvement may be hoped. The public mind, owing w the almost total impracticability of obtaining advances ‘on bills of over three months’ date from the sudden with drawal of the ‘fagilities”’ hitherto recklessly granted by eome of the discount houses, is undoubtedly in such & condition that the slightest increase of distrust might lead to an incalculable extension of the prevailing mischivf; but if the next few days should pass without any fresh disaster of unexpected magnitude there will be ground to twust that a gradual recovery may be at hand. During the day the probability was disens#ed of a far. ther advance in the bank rate of discount to-morrow, but the gold arrivals diminish the prospect of such a step. An average business has been transacted in foreign stocks, but io some cases the market has shown a tenden- cy towards further depression. An advance took place in the early part of the day in Turkish, but it was not main. tained, and the closing price was slightly lower than that of yesterday ¢ final quotations of the French Three per Cents on the Paris Bourse this evening, were 67f. for money, and 67f. We, for the end of the month, showing a farther advance of Qireeeighths per cent. On the Vienna inge the pressure increases, and within the past ten days the pre ‘mium on gold has advanced 2 per cent. About £92,000 of Australian and £62,000 of Russian gold e taken to the bank today, making, with 100,000 sovereigns from Scotland, a total receipt of £254,000. A further sum of £62,000, Russian gold, is expected in a few days Fro wespensions to day have been numerous. Fireton the Vist is the old ana respectable mercantile house of E. Seve- king & Son, with liabilities for more than £400,000. They are connected with the Swedish trade, and will enffer from the stoppage of Hoare, Buxton & Co,, announced yester day but the immediate cause of their difficulties was the failure of Broadwood & Barclay on the 9th inst. Annexed is the circular issued :— No. 66 Fexonenen Sturet, Nov. 18, 1857. With fenuings of the deepest grief ince io you the’ duty which haa been forced upon us this day—we trust temporarily oniv, as we ¢ nat only of mati but lee of realiz terial ving all our ereditora in . provided our assets y proceedings the unexpected failure of Messrs, Broad. wood & Barclay, whose acceptances we hekl to & large amount, and whose fall has compromised some of our-Weat India connections with whom we are deeply involved, we have aloo at thie period been deprived of the custo: mary che modation, and the efforts of friends to oeppert adered nagatory by the impossibility of maki, ge amount of bille In one pr e are dhas compelled to take a step of the pain: of which vee had not until quite recently the remot- on. Hine assistance of Messrs. Quilter, Ball & Co. we shalt prepare & balance sbert, which ahall be laid before our credt fora with ell possible despatch; but we need hardiy add that, fran the noture and extent of our business, some time must ph hefare ite compledon ONeovenning your kind Ayinpathy under theae aad rovarsen, D P, B—Rinoe the fi Mesara HT TEVEKIN' going . pare, Huxton & Ce. has been announeed, was penned the we fear our pavition Will be gaterially altered, In consequence of the diffenlties of Sieveking and Son ‘and Hoare, Buxton and Co., Messrs. Allen, Smith and Co., chiefly engaged business with Denmark, have also aus. r Jed. eameunt of thelr liebilities has not trans~ pred Mesers. Svendsen and Johnson, merchants, ship brokers wa coal exporters, with branch establishments at New castle and Harulepool, have likewise stopped from the ame cance. Mesars. Gorriseen, Had} and Co., mercbante, have been brought down by the absence of remittanees from Ame: rica, and Dave issued the fallowing:— 1 Rovat, Exonaxee Berpises, Now. 18 1867 Gretuewen=With decp rearet we have to aeqaaint you 1) suspend payment, and have in con ie! the indualcenee of our creditors cash advances (0 partion in th Dahle wy tmewt Chie a m recent failures in thie pougery, jn suc Jicbie remittances alreedy reanieed, togather with the un inty Which exisis respecting Tutura remiltances, are uses which have nevesaitabed thie alep on our part, ‘Our books are placed in the bands of Menara Quilter, Batt 4 Co., with instructions (o investigale onr naire and. (9 pre pare a full sialemencot them for submisaton to our eredito we posting. eonvened. ,wehibe least possible delay, ama bi ‘i 2 given. bissnicweagns S GORRISSEN, HUFFEL & CO. There has likewize been a failure of a ore importing firm—Mesers. Brocklesby & Weesete—with lisbilices ex- Uroated at about £40,000, and assets which, ut present de- prvesed prices, would yield abowt £30,000, Amrexed is Ubeir circubar:— os : peing MOUNT Count, Now. 18, 1867. regret bein: announce to you owing tothe depremed nate te corn trade and ihe pressnl uunaatlefertary condition of the money market, we have deen to’ ee! t ‘which fs now being ‘pi sunpe A slate! it of repared by Mr. ti Ja ' of Old Jewry chambers, will be submitted to you at an early period, and te the meantime we have to soll- cit your kind indulgence. wri ESBY WESS Messrs. Hoare, Buxten & Co., whose failure ip the Swedish trade was announced yesterday, have since ad- dressed their creditors as follows:— 23 Ov Broap Stuezr, Nov. 18. The unprecedented state of the money market having thrown unexpected listilities upon us, ‘he Teauit of which we are at present unable to estimate, we have been under the painful necessity of waspending our payments, Our dependencies sre principally with Sweden, and rely- ing on the goo faith and stability of our correspondents there which have hitherto characterized their commerctal tranaas- tions with us, We trast that we shall be enabled to dincharge ourtabiiities in a cenuparatively limited period. ‘We have placed our affairs in the hands of Messrs. J. B. Colemon & Co., the accountants, and propose to have a meet- ing of our creditors at the eartiest day possible. Tn the mean time we shall adopt measures for the most speedy realiza- tion of assets for division, in order to obviate, as far as pos sible, the inconvenience’ which our suspension may have caused, The Caleutta ae en ohaatte armsiof Hoare, Miller & Co., are ‘ailected by our suspension. sarraciootiare Our TOARM, BUXTON & 60, A meeting of creditors of Mesers R. Balabridge & Co., Whose suspeasion Was announced on the 13th inst., wae held to-day, but in the absence of accounts from America, no positive information as to the financial state of the firm could be given. The immediate cause of the disaster was stated to be the failure of Mersrs. Dennistoun, whose ae. ceptances Messrs. Bainbridge held to the amount of £11,002. A committee of four creditors was appointed to watch proceedings, and to call a meeting as soon as fur ther intelligence arrives from the United States, An improvement which bas occurred in the shares of the Kast Indian Railway Companies during the last two Gays is attributed to a report that the Imperial government haive resolved to assume an undivided control over that em- pire. It is.also afirmed that no loan is contemplated to be raised on its behalf in England. In the railway market @ recovery took place in the morning, but it was not maintained, and the leading de scriptions closed generally flatter. American securities Were active, and show increased firmness, especially New York and Erie. From the London Herald (City Article) Nov. 19.} With mercantile affairs in their present unfortumate con- dition it is not probable that the demand for money will greatly relax. The strain in all quarters continues to be extremely severe, and the applications at the Bank, although not generally responded to, were of an extraor- dinary character. The issne of notes under the letter of relief continves, but the full inquiry for accommodation cannot now be satisfied, the discount brokers having, in some degree, restricted their operations. Out of doors the terms for the negotiation of paper are quite arbitrary, and the bank rate cannot, under the most favorable circum- stances, be approached within one or two per cont. It was stated with confidence to-day q ednesday ) that the Bank Committee were ocenpied for a engthened period in deliberating upon the position of a large mercantile es- tablisment which requires pecuniary assistance. The in- terests involved in the case in questinn are of so important a nature that every endeavor will, it is presumed, be made to assure the parties the required support. Should the ne- gotiations not be conducted to a successful conclusion there ts reason to fear that the house will have to succumb, and if 80 several other firms are likely to be compromised. [From the London News (City Article), Nov. 19.} Our anticipation that the remittances of specie and bul- lion to the East, by the packet of the 20th instant, would be below £400,000 is corroborated by the fact. The total amount shigped by the steamer Nemesis is only £318,787 which the whole is in silver, with the exception of about £5,000 in gold. Were it not for the shipment of a quarter of a milion in silver by the Bast India Company , the Fastern drain might be regarded as, for the present, d. This was the last day for effecting ship: ments. ‘The particulars are as follows, viz :—For Alexan- dria (gold), £1,000; for Aden {olay £500; for Bombay, £118,195; for Madras (gold), £1,135; tor Calcutta, £173,- 774; for Penang, £3,885; for Singapore, £2,600; for Hong Kong, £13,228; and for Shanghae, £2,270. ‘The importance of the check which’ has been given to the drain will be seen by the following statement of the quite si eregate remittances by each of the last six steamers, pt. 4, per Indus, + £696,025 Sept. 2b, per Ripon 2 663,359 2 777,122 Nov. 4; per Ripon + 966,987 Nov. 20, per Nemesis 8 see B18,787 {lendou (Nov. 19) Correspondence of Manchester Guar- ian. Yesterday was a very gloomy day here, especially in the evening; the suspensions of several houses being announced, in addition to the one named in: the morning They are Gorriesen, Haffel & Co for about £600,000; Bracklesby & Wessels, £40,000; Svendson & Johnson. £40,000; and Allen, Smith & Co., for £100,000. It was, in addition, further rumored that a very large house indeed was in difficulties, tut we have the pleasure of stating that the Bank of England has to-day granted the assistance re quired; and hare agp that while ty Bornes enap I age accepting any bills, they hase large i on call. ‘This worving the uneasy tecling cuperiseced last even- ing was continued, but after the bank meeting broke up, at about three, and the result of their deliberations be- came known, great relief was experienced, and later in the a qinere Was a more manifest improvement. A house in the Manchester trade was currently reported to bave failed, but it is untrbe, aud the house has a large balance at its bankers, and invites any one who has a doubt about them to take @ cheque for their claim, {From the London Times, (City Article.) Nov. 20.] In all mercantile ry. quarters there has been a decided Not a single failure has been report causes of anxiety lately prevalent have been entirely removed. The stock market opened with firmness at the prices of last evening; and although Aslight reaction subsequently took place, a steady tone ‘was again manifested at the close, Consols for money were first quoted 89%) to 4), whenee, owing to an impres- sion that, a further advance’ in the rate of discount might be contemplated at the bank, where the Court did not break up untila late hour, adectine occurred to 89% to | Finally, upon ite becoming known that no alteration woul: be made, transactions were again entered into at 89% to ig for money, and 897 tor the 7th of December. One or two of the principal dealers brought some stock upon the market during the morning, but the public gene- rally showed a disposition to continue their investments. Loans on government securities were in active demand at . Bank stock left off at 212 to 214; India stock, to 214; India bonds, 458. to 36s. discount. It understood that an application, which has been made within the last few days, by a leading American house to the Bank of England for a large advance on securities fur- nished From the private resources of the firm has been most sotasfactorily met, and that all the accommodation required will be fully granted. Foreign stocks have been in better demand, and in some cases a partial recovery has taker? place. ‘The final quotation of the French three & cents on the Paris Bourse this evening was 67f. 5c. for both money and account, show ing no alteration. The private letters from Paris describe @ better feeling. Some of the American houses are beginning to get remit. tances. and the situation of the Bank of France is improv- ing. At other continental cities there are likewise signs ofan approaching tendency toa revival of confidence A further amount of £20,000 Australian gold was sold to the bank to-day. It is also understoed that 50,000 eovereigns have been returned from Irelan The £526,000 in gold by the Australasian will be deliver- ed in London to-morrow. It is tion, if net the whole, will be sold The bar silver brought by the last West India packet hea been gold at 61 cd. per oz., showing no alteration in rate, The railroad market has been generally flat. There wae little inquiry for American securities, and the final prices show no alteration, [From the London Post (City Article) Nov. 20.) The money market continues very stringent and there has again been a heavy demand for discount gccom- modation at the Rank of England. It was indeed feared during the morning that the bank authorities would he rate of discount to a still higher point, but the court eventually brvke up without any alteration being made. The sitting wee, ever, unusually pro- tracted in ite character, and jt ia understood that the de- Wherations were chiefly in reference fo a demand for ez- traordinary assistance by an eminent firm in the metropolis; and we believe that, after an investigation of the case, the directors were (huroughly racisfied bot according the assistance required and of the securities ten- dered, compliod with the request to the full extent. Thie course has given great satisfaction in city circles and this afternoon a more floperat feeling has been observable than for some days Several rumors have been afloat with regard © position of certain mercantile firme, but it ie satifactory to state that no failure of im- portance bas heen reported to-day, On the Stock Fx- change money has been in moderate demand at$ to 10 per cant on console. From the London News (City Article) Nov. 20.) This (Thursday) has been one of those days on which the tongue of public rumor delights in taking liberties with mercantile names. Unfounded reports of actual or impending embarrasemente were circulated in many quarters with a mischievous frotlity. No further failures of importance were today announced, but much regret has been excited by the announcement that a loading American house is in difficulties. An application for as sistance to the Bank of England has been met by the di- rectors with their usual liberality of spirit, and we have sincere satisfaction in stating that the needful assist ance hes been granted under conditions with which it is fully expected that the house will be enabled to pty comply. The matter is believed to have ed the principal subject of discuXsion at the weekly court at the bank to-day, which had an unusually prolonged sitting, and broke up without the announcement of any change in the terms of the establishment. The funds to day were a trifle flatter in character, yet retain great steadiness, After an extreme fluctuation of 14 per cent, the closing quotations were the same ax those of yesterday. Owing to the recent extensive sales of stock for account of bankers and other parties, the value of mo: ney jy the Stock Exebaage bag risen jo 10 per cent; this rate was pall to-day by some of the principal deaters for Joans on congols until the December setilemet, The sup- ply of stock thus indicated tends rather to divcouraye spe- culaters for the rive, dexpite the approaching deduction of the half yearly dividend. From the London Chronicle, (City Article,) Nev. 0.) ie demand for money continues very active, with nothing doing below the bank rate. ‘The by cys which has been circulated for sama igs Past, to the effect that a very large bouse connected wi ‘the American trade was in diifloully, was revived this morning with less reserve; but we are able to stato that the of Engiami this afternoon decided to give the house assistance, im conjunction with certain of the joint stock banks, to the extent of £1,000,000. This will quiet the apprehensions of many persons, A second large house has also received assistance, and the Seeléng in the commercial world has become much better. Commercial difficulties are rapidly increasing, from the extreme tightness of money and the failure of remittances from America and the heavy fall in the price of produce. It is chietly the large houses which, at moments like the present, suffer most; hence the aggregate amount of lia- bilities of the houses which have suspended this week is considerable. ‘The Rank of England and their champion of the press appear t be striving their very utmost to save their antling’ from the death we feel sure awaits it; and, from the incidents of to-day. we shal not be surprised if to-morrow we see another effort to support the bank char- ter, upon which the old lady of Threadneedle street sets 80 much store. [From the London Star (City Article), Nov. 20.] Tt is said that the Court of Bauk Direc‘ors, which sat from ten o'clock this (Thursday) morning until nearly a uarter past two, had before them a pressing application ‘or immediate assistance from an eminent firm connect! with the trade with the United States. The “application is stated to have been favorably entertained, and assistance granted to the extent of £500,000, at 10 per cemt interest ‘Assistance was also extended yesterday to the Woiver- hampton and Staffordshire Banking (company. and also, it ts added, to a@ commercial house eo -cted with America, The long list of commercial failures yesterday threw a ood deal of gloom over business this moruing; and the tendency to depression was increased by the protracted sitting of the Bank Directors, From the fact of the de- mand for notes having been,xo active all the week, and the inquiry showing no signs of abatement, it was believed in many’ quarters that the court was considering the iency of advancing the rate of discount be- existing minimum of ten per cent. The court, separated without making any change, and there is re: to suppose that the subjects which en- grosked their attention were the present aspect of com- mercial affairs, and the application for assistance from the eminent house referred to. {From the London Herald, (City Article,) Nov. 20.] Although great apprehensions were entertained in rela- tion to the effects of the failures yesterday, they have for- tunately not been realized, and to-day has passed over in a comparatively tranquilmaneer, Notwithstanding the de: mand for money is maintained at a high point, with searce- ly any indication of relaxation, there was a better tone of feeling, and unfavorable reports were less abundant. The weekly court of the bank directors took place as usual; but, although they were in deliberation some period, it was not expected ‘that any change would be made in the general terms of accommodation. This, coupled with the knowledge that no gerious embarrassment was immedi- atety imminent, created rather more confidence, and to- wards the close of the afternoon a disposition was mani- fested to look with greater cheerfulness upon the future progress of affairs. a It is satisfactory to beable to state that through arrange ments with the bank and other establishments, the extenswe firm which was recently placed in jeopardy will te rnabled ‘to surmount its temporary dificulties.. This announcement, which was made to-day, assisted in a great degree to re. vive confidence and place the public at ease with respect to the anticipated collapee of dependent houses. Jt is as. terted that the successful termination of this jation has removed an enormous weight of responsilili Tom the mo- ney market. {#Fom the London Globe (eyening paper) City Article, ov. 20, There is now (at noon) a much quieter feeling in city cireles, and the absence of further commercial failures seems to have created increased confidence. Most per- sons are inclined believe that the worst is over, and that, although an occasional disaster may occur, those mercantile firms who find themselves embarrassed will be enabled, Uagoug the assistance of friends, to extricate themselves. Phe fact that a large establishment with the United States has been assisted by the bank—and which has prevented a serious failure—appears to have pro- duced much satisfaction; and it the influx of gold into the bank should continue, the — bill discounters and others will goon be — to show more liberality toward their clients, Money is plentiful, but the suspicions created by the numerous sus- pensions and the distrusts everywhere exhibited, induce capitalists to keep it unemployed rather than to run any risk, while many firms deem it prudent to hold extensive reserves ip case of an emergency. The banks are placed in this position, but it merely requires a revival of cond. dence to restore affairs to an easier position. When it is found that the stoppages are less numerous other houses will be relieved, because the uneasiness now experienced would diminish. Second and third class houses could then get their bills discounted, whereas, for some time past, even those of first rate credit have had many ditfl- culties to encounter. Two o’CLock, P. The inqniry for discount accommodation ix unabated. In the market for Enghsh securities rather more firmness is exhibited, and the tendency seems favorable, owing to the arrivals of specie. ines, however, is still very dull, and the speculators refrain from extensive engage. ments. If the Persia, from America, should bring a large amount of sovereigns as anticipated, it will no doubt pr duce increased buoyancy. Consols have been 89% a 97 for money, and 90% a 90%, for account. {From the Liverpool Times, Nov. 21. The gloom which for the past few weeks has spread over the commercial community has not been removed; the cloud of distrust still hangs over as, and without any prospect of relief until the meeting of Parliament, The demand for money is excoedingly active, both at the Bank of England and in Lombard street: and although no aivance bax taken place in the rate of discount at the bank, many rumors have been flying that such a step would be necessitated, and that the directors would compelled to advance the rate to 11 percent. These ports most probably gained strength by the heavy failures reported during the week—chief amongst which was the Wolverhampton ‘Bank, one long establiehed, and of old, high commercial reputation. The accounts from Scotland and Ireland, however, aro more satisfactory, and the de- mand for gold has for the time, as fur as they are con: cerned, evidently exhausted itself, and prospects of a re- turn of the bulion to the bank cellars at an carly period are fully entertained, The pressure upon almostail classes he present critical period should cause genet 8, ie discount houses are limiting their axcom' it dation, HI cakes require full rates for the best paper, considerably higher for other descriptions. Tne timely arrival of gold per the Emeu has produced a favo- rable feeling, and the exporta of specie to the Continent and the Fast have been almost entirely suspended. The advices from the United States are more satisfactory, and we have had some amounts by the mail steamships re- turning to this country chiefly, however, for the purpose of covering bills @ high rates for money here have rendered the export of the precious metal an unprofitable proceeding. The intended summoning of Parliament is the most ment could have ac- the causes of that event are fresh they must be thorough- ly sifted and exposed: The account in tonight's Gazette, under the item of notes is#ved, states that £2,000,000 of the total amount ned under the authority of the government letter yvember the 12th. In the week ending Wednesday night last the coin and bullion was farther reduced, and on the above day stood at £6 484,096, being a decrease in the week of £686, 412 The return from the Rank of England for the week end. ing the 18th November, gives the following results when compared with the previous week: — Public deposits. .£5,483,881 Increase. . 13,950,165 Increase. ees « 3,433,500 Increase On the other side of the account :— 407,134 Decrease... £3,037 694 200,270 Increase 185,817 Notes unemply'd 404,501 Decrease 563,200 The amount of notes in circulation ts £22,150,004, being an increase of £1,066,799, and the stock of builion in both departments is £6,484,006, showing a decrease of £586,412 when compared with the preceding return. Of the £22,554,595 notes iasued, £2,000,000 are igened under the authority of the letter from the First Lord of the Treaenry and the Chancellor of the Exchequer. The bullion market has been quiet since our last, but with a more settled tone than tke previous week, Bar #il- ver is now quoted 5s, 1344., and is readily taken at the price; and South American dollars are offering at the quo- tations. Purchases for the Fast have ceased for the pre- rent, nor is there gold «hyping for the continent. The bank has been the principal purchaser of gold, of which there have been several arrivals. = Foreign gold in bare (standard) per oz. . Silver in bars (standard) Gold coin, Portuguese pi American eagies....... Doubloons, patriot. Do. Spanish... ao me me ee a Seneteen Fonceceoue Silver coin, Mexican and South American dole, Spanish pillar dollars. 510 ‘The feeling in the British Funds has been one of flatness, the pressure for-money being undiminished. The opera tions of the Scotch and Irish bankers have lain in the same direction, and the st of the Wolverhampton Bank has caused many banks in the midland and other districts to turn securities into money, by way of precan- tion, The advices from Ireland and Scotland, however, report the state of affairs as much quieter, In both coun: tries the pressure tipon the banks for gold is rapidly aut. siding. and, but for the extreme caution of the banks, coin would probably flow back freely to London, To-day console had made a marked improvement, closing sellers At W085 The following table will show the fluctuations in consols eine the 13th inst, = —— For Money.— — CoeBemowoum ——For Account. Now... Lost. Hig'st. Clo'ng. ‘Lo'et. Hig't. Cio fat, 14... 80% 80% BOM RON Wa” Mon. 16... 80% 895, 9% oO 90 Tuer. 17... 89 nn oP) 0 Wed. 18... 88% 89 iy 89%, WK 0 Thur, 19....88 $94, 80% 9, OY Fri. | 20... 80% % 80% «9, OLN The Foreign Share market has been dull, and nothing really doing The London Railway Share market has heen unusually quiet, and the prices of all the leading socks must ba quoted av quite bominal. NEW YORK AND ERIE RAILKOAD—MEETING OF BOND | HOLDERS IN LONDON, {From the London Times, Nov. 20.) A meeting of bondboklers in this company was helt at the Londou Tavern, on Wednesday, Me. Young in the cbair. ‘The CHAIRMAN stated that the object of the meeting was to devire means . Drew, an American eho tonds to the amount of $1,300,000 from riating to himzelf by foreclosure the whole of the rat }, which had cost the company Lge The proposition of the directors in America was about £600,000 should be raised, whieh they said would be suf- ferent to pay off Mr. Drew's mortgage, all the outstanding and floating debts of the company, and allow £200,000 for completing be vaderlaking, oem ed to pale he money by paying 50 per cent in cash and 50 per cent bonds. hie ‘thou tht the matter should be placed in the hands of a committee, and that each gentleman present should put down his name for the amount he was willing ‘to subscribe. Mr. De Sais moved a resolution to the effect that the meeting had perfect confidence in the intrinsic value of the undertaking, which they believed might be made 7, a judicious application of increased capital to satisfy all its creditors and yield a fair return to the shareholders, The ‘directors had been obliged, in consequence of the mone- tary difficulties in America, to exectite a mortgage con- taining @ power of sale, which would override every pos terior interest. It was necessary for them to consider whether they could do any good tor themselves by help- the company. He was informed that the line was 494 miles in length, and commanded the chief access to the port and harbor of New York, and that it passed through fome of the finest districts in the Union for traffle, The cost of the line Was about $37,800,000. The sum of $13,- 000,000 was secured upon the'tirst, second and third mort- gages; $11,800,000 were contributed by unsecured bond- holders; $2,000,000 were due in floating debt; and $11,- 400,000 had been advanced by the ordinary shareholders. Unless the English sharebolders and bondholders would agree to assist the new direction in the way proposed, about $25,000,000 of unsecured share capital would be sacrificed. From the year 1854 to the present time he found the traffic had progressively increased, and Teasonable to suppose it would continue to incre net earnings in 1856, after de to LL per cent upon the $11,000 000 of ordinary capital He thought it necessary to appoint a committee, and that an agency should be established in this country where an- thentic information could be obtained as to the proceed ings of the com) The directors should be strict); prohibited in fut..c fram creating a floating debt sucl ‘as had been done, and which was really the cause of all the difficulties under which the company were at present laboring. The difficulties had resulted entirely from the bad managment of the former directors, He no doubt the present directors would listen ty any proposals which would make subscriptions conditional upon carrying out those suggestions with a view to save the property. Several sharcholders expressed their disapprobatiom of the system adopted by the directors of executing mortgages ithout consulting the shareholders, and thought they ought fot im future to accept Alls on account uf the Heating det, as st Kad involved the company in the present difficulty. Mr. Vansoxs eaid if they alvanced the money it should be on express conditions, which should guard the propri tors against the possibility of any similar difficulty, If th committee were to settle the terms and conditions of the advance he would make {t @ condition that not a shilling of the money should be handed over to the directors until all the requirements of the bondholders were complied with. He bad every respect for the President, but his ex ce in railways had taught him that it was unsafe to trust any railway board. After some. further observations the resolution was adopted. Messrs. De Salis, Campbell, Heseltine, Gowan, Watkins, and three other gentlemen were appointed a committee to invite subscriptions and to negotiate with the directors. A vote of thanks to the Chairman concluded the pro ceedings. FAILURE OF SCOTT AND COMPANY, OF QUEENSTOWN, ‘The Cork Constitution. of the 1ith of November, cou- tains the following account of the suspension of the’ emi- nent house of Scott & Co., of Queenstown, with liabilities extending from £100,000 to £200,000-— In the early part of last week it was currently stated in commercial circles that the extensive firm of Mosars. Scott & Co., of Queenstown, had incurred considerable embarrassment with regard to the liquidation of their liabilities; but it was positively asserted by their friends that the ‘difficulties would be only of a temporary cha racter, and that if time were allowed all the creditors would be paid in fall, With this object in view efforts were made to induce the creditors in this country and in England to sign a letter of license for three years. This was complied with by some, but others declined making any terms until a statement of the affairs of the firm was laid before them. The result has been that circulars were issued on Satur. day evening for a meeting to be held on Thursday next. The debts of the firm are set down at various sums, ex tending from £100,000 to £200,000. A very large number of creditors belong to this city and ounty. It was sup- posed that the firm was possessed of considerable property in ships as well as buildings in Queenstown; but the latter, itis stated, are mortgaged, and the former is not #0 ex tensive as was believed, ax many of their ships were dis- posed of within the past few years, The firm of Messrs. Scott and Co, had during their connection with Queenstown, exerted themselves very actively for the advancement of the town, and were mainly instrumental in carrying out most of the improvements which have latterly been ef- fected therein. The handsome row of houses which meeta the eye of vieiter on his entrance into the harbor which includes the Queen’s hotel the Magnetic Telegraph office and the Bank of Ireland, was built by this enterpris ing firm, who were also the chief agents in arranging for the lighting of the town with gas, and procuring a suppiy of water. TRE MONEY PRESSURE IN THE IRON DISTRICTS OF ENGLAND. {Wolverhampton (Nor. 18) correspondence of London mes. ‘The efforts on the part of the Mayor and other inbabi. tants to allay the raing popular feeling of distrust in the currency of the notes of the Wolverhampton and Stafford - shire Bank, of which there are £30,000 worth afloat, have proved in a measure successful. There has been a feel- ing of growing confidence all the day, and the applica. tions to the other banks of the town have not been many more than customary, and they have been met with the utmost readiness. vertheless, the inconvenience tothe trading community bas been severely felt. The market has been much more numerously attended than it has deen for some weeks past. The surprise was great on the part of many living in the rural districts when, on coming into town, they learnt for the first time of the ‘suspension of the bank The ironmasters mustered in strong force, but there was no businers transacted, Althongh it seemed to be imy ible that other suspensions should not follow those of F, Charles Perry, W. Riley & Son, the Wolverhampton Iron Company, Solly, Brothers (Leabrook), aud Kose, Higgins & Rose, yet the only additional firm that has ts sued circulars calling together their creditors was that of Motteram, Deeley & Co., ironmasters. At the sam considerable apprehensions are expressed that the i several instances, would not be forthcoming on bi rages, Satur- da} it "Fownrds the close of the proceedings on ‘Change in the afternoon, it became generally stated that the bank wo open to-morrow (Thursday), and more that one firm in the iron trade determined to forego their original intention of summoning a meeting of their creditors for at least a few days longer A telegraphic message had been recatved from the deputation of the directors who left Wovertiampton Inst night to ‘ure additional accommodation from the Bank of England, reporting that their journey bad beom successful. Depositors were at about the same time wait ed upon by persons largely interested in the maintenance of the bank, and their opinion taken whether, in the event of the bank re opening to morrow, with the help adverted to. and a new of directors, they would continue their money in the bank. of the depositors cannot, however, be full rained until to-morrow forenoon, when, at 10 o'clock, a meeting of the creditors will be held at the bank. Until that meeting has taken place we do not think that it can be definitely asserted that the bank will re-open to-morrow. The shareholders Will meet on Monday, The liabilities of the bank are set down at a million sterling. The difficulties under which it hag just temporarily succumbed have arisen ont of the accommodation whieh they have given to somewhat qaes tionable paper precipitated by the failure of Messrs. Ran dervon, Sandiman, & Co. The business i# stated ¢ been from £10,000,000 to £12,000,000 a year, and the £10 shares were selling a short tite ago at £18 108. THE BANK OF ENGLAND AND THE CURRENCY QUES- TION. {From the London Times, (Editorial,) Nov. 19.) It is not very likely that any amount of discussion or exporition will ever initiate the general body of the Br) tish public into the mysteries by which the carrency of uintry is regulated, bat there ought to be little difficul ty in bringing the principles now at stake within the com. prehension rnp reader who may give his attention to the subject, little doubt, we think, concerning the course which impending inquiries ought to take. The cir ulation of this kingdom, whatever form |t may assume. is based upon a gold standard. Bank notes are assumed to be convertible into gold at the will of the holders, and consequently, to mg J es on 7, —_ , but in actual reality. assumptions to that The notes of @ parlicular bank—the Rank of England—are made a legal tender, and therefore gold or Rank of England notes constitute the medium of satisiac tion between debtors and creditors. It is obvious that the amount of gold in a country cannot be increased by any edict, or created by any legislation; butit is also plain that no such limit is put to the creation of Bank of England notes, which, ag things now. stand, are equally valuable. When the creditors of a commercial establishment are ex pected to make @ run upon it, the establishment must pro. vide iteclf with notes of the Bank of England or with gold in order to meet the demand, and if it cannot do this to a sufficient extent, it must stop payment. In Scotland Bank of England peter do not constitute a legal tender, and gold alone will answer the requisitions of a crisis, Now, the great question iuvolyed in the present contro versy is this: What limita should be put to the issue of notes by the Bank of England? As long a¢ these notes constitute a legal tender, it is clear that we veas the power of manufacturing money, of at least of increasing the ev of the country to any extent; and under what restrictions, then, ifany, ought this power to be exercised? In 80 far as the notes represent gold actually held by the issuers, the question of limitation does not enter into the inquiry, for the increase of circulation thus effected is evidently only tantamount to the increase producible by an influx of gold iteelf. A million of new sovervigns makes simply an addition of so many to the existing stock, and “if these, in of being put into cirenistion, are locked up in the |» collars, and notes igsued ty the value thereof, It is clear that the expansion | just as much the resnit of gold as if the gol iteell had je current. Migoronsly speak ing, the theory of a gold currency would require that ewe note should be a reprosentat f ite value fa gold actually possessed by Uie isguer, but as the practical MORNING EDITION—SATURDAY, DECEMBER 5, 1857. point, after all, is simply that of ite convertibility, a cer tain latitude of action becomes admesible. So long as it is morally certain that any man holding a Rank of Eng land note can obtain its full valuo in gold for it upon de- mand, thefprinciple of convertubility is maintained, and the transactions of the country are, in reality, regutated and protected by a gold standard, whatever’ may be the amount of paper currency introduced for the sake of con- venience. What, then, is the amount of notes which the Bank of England should be permitted to issue over and above the amount representing an equivalent in bullion actually pos- sessed? This amount has been fixed, and now stands at £14,000,000. It has been considered that the bank might nafely, iasue its notes to this amount without any danger to their convertibility or value, Its credit would never be likely to be so far impaired, or its stock of gold so far di- minithed, that it could not, within these limits, find cash for its notes when presented. This point of the case, in- deed, suggesta no argument. It is not affirmed that the limit is too liberal, or that the excess of notes thus per mitted over gold is too great. The cry against the Bink Charter act—or the sct embodying these provisions 8 always assumed an ite character, and has been levelled, not at the magnitude of the paper issues, but at their alleged insufficiency. —_ It is the restriction to £14,000,000 which is complained of, and which is said to Keep the country so short, and to make money, from the scartity thus prevailing, so dear, that at the first moment of pressure the system breaks down, the Bank Charter act has to be suspended, and the artiticial limit imposed upon its paper issues has to be removed. Such, indeed, ‘was the result in 1847, and the same event occurred last week. The week after next Parliament will meet to con. sider the whole question, and the circumstances by which ithas thus been opened, The first question is purely one of — principle. Very possibly the limit of £14,000,000, which min, needs Have been somewhat arblirarily fixed, may admit of some expansion, but that is a minor consideration altogether, Whether the amount be settled at fourteen, fifteen or sixteen millions signifies lit- tle #0 Jong as the calculation on which it is based is rea. sonable in itself and the principle of convertibility main- tained, It is nothing less that this very pripeiple which is impugned by the thorough going opponents of the Bank Charter act. They know that if a bank lies under the constant obligation to tind gold for its notes, these notes must be limited in amount, though the lin more or less severe; and they contend t convertibility, or an indefinite increase in lation, ion may be erefore, for in he note cirew irrespective of any + gold equivalent. Tat a system either obviate commercial increase the real wealth of a country, or ¢ ilitate trade? There is not the smallest ground for assuming that it would insure any eof these results. For the firet we bave an example before our eyes so absolutely decisive of the whole ques tion that nota word need be added to it. I wntimitad poper issues could prevent panics there would he no panics an America, for there every State is flooded with paper y, and yet this chromic inundation of motes docs not hem, as we see, from far worse and more frequent r dwn, “For the second, “national rated by mere imitations of the reali cireulation represents something s essential and universal value, equivalent money. This point The French government w ty. Unless the paper which, like gold, posse it will never be ‘real! also needg no argument. of 1790 set it at rest forever. But would the transactions of commerce be facilitated by a greater abundance of notes in_ circulation? — This question is answered in the last. Unless commerce. is conducted with a sound currency it cannot be safely con ducted at all. Ifmore notes were in the market they would doubtless be more readily obtainable; a glut would make them cheaper, as it does all other things, and tra. ders might get (urnished with accommodation on easier terms; but this would not be cheap money, it would merely be cheap paper, and upon the first rush to ex- money for real money the crash would be e than before. Either the notes, being no- minally convertible, but not really covered by gold, would be presented in such numbers that the bank, un able to cash them, would be bankrupt; or, being legall inconvertible, would depreciate in value like the Frene! assignats. The risk of panies, and the evils of panics themselves, would simply be increased together. But there is another question of very great importance: What have been the circumstances attending these and especially that now coaagar be We heard, day, after day, of the stopping large bank: ing ‘establishments in Scotland, for example, but we have not heard enough of the system or’ practices under which these catostrophes became producible, and which seem likely to be resumed with the same liabilities as before. No arrangement or system of any kind con sistent with active commerce or the profitable emplo: ment of money can be against the effects of a panic when once created. Ifa bank, for example, is to give one Class of its customers interest upon their deposits and provide another class with pecaniary accommo- dation by means of these deposits, thus obliging two parties at once, it can clearly never be able to return the whole of these deposits at a given moment. This is the strongest case of the necessity of credit, but there are. countless others of different kinds, Credit, in fact, must enter into the dealings of a country like ours as well as money itself, and @ commercial panic simply means the depreciation of this credit for the time. Gold and notes can never be kept in sufficient quantities to satisfy every obligation outstanding in every part of the kingdom, for the gold is not "to be bad, and the multiplication of notes otherwise than on a gold basis would simply destroy their value proportionally and prevent them from going so far. Five pound notes might be increased to any imaginable number, but the only end would be that it would take a batfull of them to buy a sovereign. The question at this point is whether avy discoverable features in the prevailing system of trade will account at all for the oc- currence of panies, which produce so much misery and There is no prima facie case established against ‘stem of currency by the fact of a panic, for panies: occur under all. Advocates on the ef side would deny, also, that any cage was thus made out against the system of trade, and this we might allow: but the source of mischief is at least as likely to lie on this side as the other, and we hope to see a corresponding scrutiny applied. THE CRISIS ON THE CONTINENT. {Paris (Nov. 17) Corrrepondence of the Landon Post.) There is no news of any failure having occurred in Paris. Additional contidence prevails, Advices from London, Liverpool, Glasgow, and especially from the United States, are more assuring, and if no fresh disas. ters are reported, we sball turn the corner to-mor row as regards the money market, but at the same time commerce will notrecoyer the check it has received so easily; in fact, not until money is much cheaper. The contibued embarrassments of keveral important houses greatly engaged in the American trade render their po- nition still precarions, The Bank of France ia, a8 before, sternly refusing any cash whatever on railw bonds or shares. Public bonds only have ita confidence, The Crédit Mobilicr is also still very much affected by the present crisis, and it will be long before it can be restored to its previous favor. However, the Bourse to-day is, on the whole, undoubtedly the best we have had for nearly a fortnight. ieris (Nov. 18) Correspondence of London Post.) q been remarked that within the last day or two one of the heads of the Mobilier was anxiously watehing the fands apd other securities, He waa notin sucha high and commanding tone at the Place Vendome of late but, as a prudent general, looking very anxiously at th Dreach. Great animation was, howe: among bis attendants and followes turned; in feet houses it ie said that next coming liquidation—namely, from the 15th to 31et December, may bring down funds and securities generally, however, the present crisis, has pro- bably seen ite wo we hope, no more failures. The money market became very buyant towards the close. To-day the purchases have been ona large scale, Mobitier ie at to 820 1.277.560 to 1.280; Pari¢ (Nov. 18) correspondence of London News } improvement in the Bourse, of which there were sym) yeaterday and on Monday, has been very de- cided to-day. The rente opened with great animation, under the influence of news that considerable remittances had been received yesterday from New York by «everal commercial firms. One house alone, it was said, that of Cottinet, had received 600,000 fr. @ inference dra ‘was that the effects of the necessary reaction from t disturbed balance of trade between Paris and New York will now be rapidly perceptible. nar (Nov. 17) correspondence of London News. | ere Was some uncertainty at the opening of the Bourse, in consequence of the news that the Bank of Rng land had exceeded its statatory limit of bank notes to the extent of £180,000 sterling, and that it would be necessary to apply to Parliament for a bill of indemaity; but as tho day wore on the tone of the market decidedly improved, ad it became very buoyant towards the close. rose 20¢. for ¢ash, and 15c. for account, closing at O6f. 6be. in each caso. Mobilier rose Sf. The Orleans Railway rose 12f. 60c., Northern, §f. 76¢., Southern, 10f., Western, 7f. 50c.; and Lyons, Eastern and Grand Central, 2f. or Sf each. Bank of France fell 15f. It was #aid that since the prosecution of some of the money changers, 6f. pieces had Cocesne more plentiful. The reports of difficulties in meet ing the bille due on November 15 are contradicted. It ap pears that there were not more bills dishonored on that day than at the came time last year. ¢ Paris Debate of the 19th ultimo, alluding to the fall ing off in the imports and (with few exceptions) in the exports during the month of October, shown by the re turns just published by the Moniteur, observes: — Such results were to be expected ; for although the Ame. rican crisis has been hitherto financial rather than com. mercial, it was impessible but that the disturbance of the English and American markote should react prejadicialty upon ovr own, which, however, has not aa yet been very severely tried. Solidarity is, now a-days, the law of na- tions, whether for good or evil fortune. How far do wo seem from the time when it was considered that the mis fortunes of one country conduced to the — of an other! Upon the whole it was to be apprel Jed that things would be much worse than they are, and if, as is to be hoped, the two following months, that is to say, the current month J the month of December, should not show any more ded slackening of the commercial movement t we have yet seen, we shall be able to say that the country has valiantly resisted the blow struck at its public fortune by the eccentricities of American specu. lation, We may add that at this moment the situation seems to be improving both at New York and London. The quantity of silver exported during the month of Ovto- ‘ber lart wae 2,124 ,000fr. inet 41,871 000Tr For the te moniis of the present om of silver reaches 400 millions ai mount is nearly set of by the introduction of a peeks | quantity of gold after deducting our own expor® of the latter metal From Galignani's Messenger (City Article) Now. 20 he Bourse raarket Was leary at the opening, as the Lon‘lon derpatches were not favorable aa { announced the PRICE TWO GENTS. possibility of a@apther increase in the rate of discount; but anothe +h of a more favorable tenor arriving, there was a general rally in ail securities of this market. Threes, after having been dono at défr. 90c., rallied to 6itr. 1de.; Mobilier varied from 745 to 766fr.; Orleans, 1 fr; Northern, 872 60% 876fr.; Lyons, 810 :.; Geneva, 506 to 596fr.; and Austrian, 660 to HALy- Page Taree 07 CLOCK. ‘The market continued buoyant tw the close, folowing were the last quotations » 435 per cents, 90 50 Gredit Foncier. Do. end month — — Belgian 435.000.0005 3 per cent,. Piedmontese (5)... .- Roman... .....- Austrian... Spanish threes, Do. account... Home debt.........) 3636 ‘Accounts irom Lyons speak very discouragingly of af- faire there, in consequence of the collapse of credit on America, The last mail is said to have brought returned. bills to the extent of a million. The Clamor Mublico, of Madrid, states that it is not like ly that the financial crisia under which several countries of Europe are laboring will affect Spain, and that the sit- uation of the bank of that country i highly satiafactory. A Vienna letter of the 1 th ult. says:—The intelligence of late received here of the financial situation of the great, manufacturing centres is exceedingly afficting. The nam- ver of failures announced =* the present time has been enormous. No greater panic has been known at Vienna within the memory of man. The news this day from Bo~ hemia is deplorable, The National Bank i# unwilling to raise the rate ef discount, through an apprehension of ad- ding tothe alarm already existing. The exchange im favor of gold against bank notes, though guaranteed by State, is to day from 11 to 12 per cent, and in favor of er from 8 to 9 per cent. ‘The Bourse Gazette of Berlin says:—The Bank of Pros- sia, in accordance with a decivion of its governors, baw given notice to a certain number of its depositors to with- draw their money or to leave it at a reduced rate of in terest, It has not, however, discontinued to discount commercial bills, but it refuges any loan which it con ceives be of anature to lead to an exportation of the precious metals to foreign countries. RUSSIA AND CHINA. Ec A St. Petersburg letter of Nov. 1, in Paria, says. — Ace cording to the latest intelligence, the relations bet Russia and China have taken a hostil At all events, the court of Pekin has refused to receive the Russian ambas = sador, Itis evident that the genorally hostile attitude of the Chinese government towards foreigners haa becoma still more cosine the suspension of military operation® against it in conseque nee of the rebellion in India. Tha interior troubles of the country seemed to be appeased, and the Chinese government now flatters itself that it 4 able to make bead against Europe. Since China shuts ner ears to al! pacific negotiation, we shailat last be com| to adopt the most energetic measures, There ix ou im portant circumstance which we must always keep in mind, viz., that Rossia and China are close neighbors aloug & great extent of common frontier and that our mw estas Uishments on the Amour riner must be protected. Our Bocas del Torro Correspondence. UNrreD STATES STEAMER FULTON. Bocas pet Torro, Criniqui, Nov. 16, 1867. } Gen. Watkes’s Expedition—The Chiriqui Route—The Har- tor of Bocas del Torro, de As you know we were sent off from the United States to intercept Walker, and we have been at anchor bere for @ few days, it being understood be would rendezvous a% this place. As yet we have seen nothing of him, nor do £ think we shall. This harbor ia really a magnificent one, and a more beautiful spot I have seldom seen. Why is 'b not bustling with life, as it would certainly be if any other race owned it? How does it happen that our government has so long ignored this spot, which, from its great advan- tages, must necessarily become the rendezvous of our national vessels in these waters? The folly of keeping vessels stationed at two euch miserable points na Aspin~ wall and Greytown for months st a time, must become apparent, when such a harbor as this exists midway be + tween them. The most strange thing I learn here is that this is the fret American man of war that has ever vievet these waters, whilst England and France have bad vessels here at various times; the former have in fact a most accurate chart of the harbors published by the Hydra- graphic Bureau, and'made for surveys by their men of war, This chart shown us here has all the soundings carefully haid down. Teannot give you a fall account of all I wish. Tho town is @ small one, and mostly inhabited by negrovs. This is in New Granada, and jist outside the limita of Central America, therefore not included in the Clayton- Bulwer treaty. I wonder if they ever thought of that at Washington? We met here Mr. Morel, the agent of a New York Company, engaged in opening a transit to the Pac. He has a number of men at work, and expects to hav: ready for travel by mules and horses im about a month ‘The journey to the Pacific will then be made in one day This company has also valuable coal mines, which Mr More! bas offered to take us to, as they are very accessible: from our anchorage, being in the inner harbor, or qui lagoon. This transit, 1 predict, will become of reat importance, from the facilities offered by the har- pr and coal. Mr. Morel computes the line of transit from the Atlantic to the Pacific at less than sixty miles, through a healthy country. It we remain here, and I can get leave, I shall rue across to the Pacific.” But I learn we are to proceed up to Greytown soon, as the Saratoga is ordered home, Had. er made a landing here before we came out, or should he do so after we leave, he can easily got to the Pacific by this new transit, and thus attack Costa Rica in the rear. There is a rumor here that he will land ay Moin or Salt Creek, on the coast of Costa Rica. Mr. Morel, who knows the country weil, tells ux that if he should do 80, Not @ Man will live to eee San Jowe, as the road across the mountains i# a frightful one, through @ perfectly wild. country. I cannot write more now, but will do soagain. Ido cot think we shall get bold ot Walker. I hope our commander Will write such a description of this to the Navy Department that they will make it a naval rendezvous: for depend upon it, we shall have to keep a good fleet ia these waters for a long time tw come. We are pretty well fed with fresh fish ef all varieties. and an abundance of green turtle, besides fowl and game of various kinds The anchorage is very heal:hy, and one does not run the risk of fevers which on all the rest of the coast are ro prevalent t Jersey City News, ARREST OF 4 StPPOSED BURGLAR~$3,000 Worm om WATCHES AND JEWELRY IN fit PoemmION. Obie! of Police Haines, of Jersey City, yesterday morning arrested a mau at the Philadelphia Hotel, on suspicion of having dishonest ly obtained a large stock of watches and jewelry, which was found in hit possession, Early on Thursday eveping: the man came to the hotel, with two carpet bage in his hands, stop for the night, régistering his name ae “Charles E. Warren, St. Louis.’ One of the carpet bags he permitted the landlord to put behind the bar, but We other he appeared very careful of, and, after getting bi supper, tock jtto his reom with him. Added to the ex- treme care which he exhibited for this carpet bag, thera was something in his deportment which excited the aue- ions of the landlord anda number of gentlemen present, apd when =i Jed to their minds the robbery of Mr. Werner's exchange office in Greenwich strees, they came to the conclusion that be must be the robber, and the jen specie wax in the well guarded carpet bag. So g Were their suspicions that one of the gentlemen uuel Benpeit) went to the residence of Mr. in New York, and communicated the fact. Mr. Bennett and Mr. Werner then returne 1 to Jersey City, and after scouring the services of officer Ayers, hotel and to the room ocenpied by th at first a litte disconcerted by their *>pearanc they had communicated to bin. ..e pature of their euxpi= cions—that he bad the stolen specie—be readily Assented to a search of bin baggage. Between the mattress and. feather beds bundles were found contaming about thirty gold watches, about the same number of silver watches, some fifty or sixty fob chains, and a quantity of other jewelry, but no money was found, and the partion lets him to resume his slumber, Veeterday , how~ ever, it having become known that a heavy robbery bad recently been committed upon a jewelry establishment io Cincinnati, he was arrested opon ion of bemg con~ cerned in that transaction. He was placed in jail, and the facts of the case were telegraphed to Cinoinnati, but w a late hour no answer had been received, Warren told a variety of stories, and fails to give any sauafactory: account of how he came into possession of the property. The property is estimated to be worth about $4,000, there being a number of very valuable watches. It is suppose L that he has confederstee in this vi 7 AA a MAD Caled at she hotel yesterday and inquired if such aman hed been there, and bastily left after learning of the arrest. Highly Important Correspondence Between Mayor Wood and John Van Baren—Their Exact Position. TO THE EDITOR OF THE HERALD. New Youn, Deo. 4, 1807 Will you do me the favor to publish the enslosel cor Fespondence? Ihave purposely delayed (ts publication tll after election. J. VAN BUREN: THE MAYOR'S NOTE. Mayor's Orvicn, New Yous, Nov. 17, 1867 My Drak Sin—I hope, as an capecial favor to myself, ron will consent to address the ratification Meeting om Will you do 80, and FERNANDO WOOD. evening, at Tammany Hal! oblige yours, very truly. Hoo. Jows Vay Buns. N's REPLY, wm oe New Yore, Nov. 23, 1867. My Dean Sin—I shal not be ag) a | the — at Tammary Hail to night, as you desire. To be entirely frank ven yon, Tcould not speak there to-night without referring to your recent message, and that contains sent ments and recommendations whieh [ utterly condemn. So Lahould do you more hart thin good by cing. Youre, wer, J. VAN BUREN, Mr. Woon: — Deara or American Seamen.The State De~ ent of Washi 1» has information from Labaina of roland, seaman, of ship Gratitude, man of ship Sarab Sbeaf, on the 16th August last, also from Taleahuano, of the death of Manuel Loper, seaman, belonging to abip Joho and Elizabeth, of New Lon and of James Riley, seaman, belonging to ship Sea Fox, of Westport, om the 13th ot July and 1th of September inst,