The Express.
London, England, 1847-10-23 00:00:00

By the packet-ship Oxford, which reached Liver-
pool yesterday, and the screw-ship Sarah Sande,
arrived in the Mersey last night, we have intelligence
from New York to the Gth inst. inclusive. The
commercial news is important. Exchanges had
advanced, the current rates having been 9 to 91
premium, for sixty days' bills, and afterwards even
9; to 10 was asked ; while some bills at three days'
sight were done as high as 101 to 11. The moat
important fact, however, is the actual shipment
of specie to this country. The Washington Irving,
from Boston, now off Liverpool, has on board 50,000
dollars in specie; the Sarah Sands has brought
40,000/. in gold; the Henry Clay was to leave New
York with 200,0001. in specie ; and similar remittances
may be expected by the Hibernia. Though the
news by the Hibernia, announcing the failure of seve-
ral large firms in this country, had reached New York,
by telegraph from Boston, on the 4th, up to the 6th
inst. no mercantile disaster had taken place. The
New nrh Courer, on this subject, says :
The amounts she brings of new, and, in many instances,
unexpected e,,stpiercial disasters, alarmed our business men
at first very much. A sort of indefinite apprehension of evil
paralysed for a while all operations, and its effects are still
pen. ptible in the state of the markets to-day, when trans-
actio.ts were few, and everything denoted an unsettled con-
dition of thine.
Mt re considerate examination of the real state of the
case discovers little to be apprehended for our commerce or
general business from the disasters in London. So far as
the failures of Reid, Irving, and Co., and of Gower,
Nephews, and Co., might, by reason of the return of bills
drawn upon them, affeat us here, it is to be remarked that
thaw bills are for the most part drawn by bankers or other
strong corporations here, and that if they should come
back, they wall be immediately taken up by the sellers
or endorser.. As to the bills which there is yet time to
cover by remittances from this side, we have reason to know
that :by the Sarah Sands remittances for that purpose will
go out.
We therefore do not perceive that any great evil is to
result to Americas commerce at large, although there will
doubtless he individual losses from these failures, while the
partial rise in breadstuff' announced by the Hibernia will
brighten tie prospects of many shippers. In no event that
seems at all probable can the losers which are to fall upon
this country, either by the decline of prices of breadstuff' in
Europe or the failure of correspondents, amount to • fourth,
we had almost said • tithe, of the extraordinary profits
realised by the country at large, during this and the past
season on the shipment of breadstuffs. We are therefore
rich, strong. and sound.
The flank of the state of New York has, it is under-
stood, about 20,000 dollars of bills running on Reid, Irving,
and Co. If the whole of that sum were swept away it could
little affect even the dividends of this brink, and not st all its
usefulness. The Merchants' Bank of this city, which has
also had dealings with this house, has not more than 7001.
—seven hundred pounds—as we learn, at issue—and the ex-
tent of bills drawn by private houses on the firm in not be-
lieved to he large. The period of this failure and of others
—between two crops, as it were—before transactions
furnished on the new have commenced, and when the bulk
of those derived from the old, have been matured—is singu-
larly auspicious to American interest. As to the firm of
Gower and Co., the Ohio Life and Trust Company am the
principal drawers from this side of bills upon them, and they
are abund Intly able to meet the loss likely to arise, even if at
shoull bar' been all on their own account. But the cashier
of the company, of which the office is in this city, girls
notice that " the dealings of the company with Gower and
Co. wu exclusively on account of another institution in the
west, and the Ohio Company can sustain no loss therefrom,
except through the inability of the party for whom it was
acting."
The news from Mexico to the 19th September is
most important. When our previous accounts left,
the Mexican commissioners were met to consider the
propositions of Mr. Trial, which, according to letters,
were in effect, "that the citizens of the United States
should not have anything to claim from Mexico for
damages occasioned by the war ; that the United
States would have the privilege of establishing two
factories in Upper California, and that the Mexican
government could, if it chow, renew this article of
the treaty." This wunotsccepted, andthen Mr. Trist,
unclothing himself of his official power, remarked
to the Mexican commissioners that he thought
it would be much better for Mexico to cede
the whole of Upper California to the United
States, for which that government would certainly
pay fifteen or twenty millions of dollars. This
would probably have been agreed upon if the follow-
ing article had met with the assent of the Mexicans,
viz.: " that the Texan boundary line should run
along from the month of the Rio Grande, from the
left side to the right side of the Rio Gila ;" but
to such a proposition the Mexicans would not
agree, as they would by no means yield one inch
of ground the other side of the Names. The
commissioner, Mr. That, then asked for 48 days' time
to consider further, but the Mexicans replied that they
would give five days, and no more. Matters stood
thus on the 6th of Sept., when General Scott ad-
dressed a letter to Santa Anna from Tacnbaya, awns-
bsg him of having violated several articles of the
armistice, and with having refused to allow the Ame-
rican army to obtain applies from the city ; to which
Banta Anna replied at considerable length, and with
great severity, accusing General Scott of having vio-
lated the terms of the armistice himself, and also with
having sacked the Mexican towns in the vicinity of
the capital, and robbed and desecrated the churches.
On the 7th General Herrera, as commandant of the
city of Mexico, addressed the clergy, exhorting them
to use all their influence to incite the people to arm
themselves, and prepare to resist the American army,
and recommending the citizens, men, women, and
children, to collect stones and carry them to the roofs
of the houses, and thence throw them at the Ameri-
cans if they entered the city.
On the Bth Gen. Scott attacked the Mill del Rey, in
thevicinity of Chapoltepee, where the American army
encountered a large force of the enemy's best troops,
and a terrible fight ensued, in which the Mexicans
were beaten. General Leon, who commanded the
Mexicans, was wounded; and General Balderas, of
the National Guard, was killed. According to the
last authentic accounts, the American troops were mid
to have 'on of two amok having driven the
principal The
of the Maxima *roe in or towards the
Plaza. The American bow lad suffered greatly
from the fin el the *saw steamed in win-
dows and me the stool of homes. and oe.
neral Worth was badly bat not mortally wounded.
The loss of the fumy was estimated at 2,500.
Such is the American verges of the battle, but se-
ceding to the Mexican aoseant, which appears