The Express.
London, England, 1857-11-06 00:00:00

NOVEMBER 6, 18574prp,

UNITXD 811 A

By,the steamship Vanderbilt, which arrived off
Cow* yesterday on her *ay to Havre, we have
papers from New York to the 24th ult. The Van-
derbilt brought over 136 passengen for Havre, and
47 for England,. She had no specie on board. She
had a rather heavy ship letter-bag for the General
Pest-offloe, London.
There is very little news except what belongs to
the embarrassed state of trade and the money

market.
A convention of delegates from New York country
banks was held at Syracuse on the 22nd. Resolu-
tions were adopted recomraendingthe country banks
to discount to the extent of their ability, and to aid
in bringing produce to the seaboard; also appointing
a special committee to effect an association for the
mutual protection and interest of the banks, and to
arrange a system of redemption and exchange. The
delegates expressed theruaelves very freely with re-
gard to the city banks.
Several extensive houses in New York have signi-
fied their willingness to receive consignments of flour
and grain from the west, among whom, besides
Messrs. Spofford and Tileaton, Messrs. Grinnell,
Minturn, and Co., and others have been mentioned
as willing
.to pay freight and charges to that pert,
with the view of aiding in the movement of bread-
staffs from the interior to the seaboard, by which the
present pressure may bo alleviated and exchange*
equalieed.
The following is from the New York Herold
Oct. 23, 6 p.m.
This has Leen a very "blue' day in Wall-stmt. So tar
as the Mock market is oonoerned we me nothing in the imme-
diate future but depreciation and dimppointment. As for
s per u lat io nit is out of the question. Thc bulls have a very
gloomy primped, and outside holders of stocks who want
money must make up their minds to take lower prices. At
the find board to-day Virginia Ifs di-cheat 2 per rout. ; Rank
of Almelo., I ; Cumberland Coal. ; Pacific Steam-ehipCom-
pany, 2; New York Central Railroad,; Helmut and
Choate, ; Reading, 1; Michigan Souther* old, II ; ditto
preferred, 1; Panama, 11 ; Illitwis Ceutrel Railroad, I ;
Cleveland and Pittsburg, 2; Cleveland and Teleio, 1; Chi-
cago and Rock leland, If.. Illinois Central Lends advanced
If par amt. There is no life In the market.
At the wand Wart the decline in prices wax to some ex-
tent upon • very limited amount of bueiriere. Nearly all the
transactions were ter cash. Virginia State 6's fdl of ax
• per cent. ; Erie Rends, 1871, 2 ; Penneylvanla Coal. 1; New
York Central Railroad, 3 ; Hartman Railroad, t ; M
Southern preferred, I ; Erie Railroad, I ; Reading, Mir
name, 2 ; Chicago and Reek Island, 4I ; La Crosse and
hltlerankk, f. Stocks are rapidly runnieg back to the old
level. The apprehension in financial circle. regarding the
coarse of the money market and money mamma generally
are as great now as at any time dunng the present revulsion,
and the panic is as wide spread and as intense an at soy pre-
vious period. The next Rumor from Europe is booked for
with the greatest anxiety.
We understand that • large amount of sterling bill,
of exchange were returned by the Europa. Bills drawn by
the Pennsylvania Bala in London were rot anal protected
for anon-acoeptance. They are suppeend to user Leen mere
kite* for speculative purpoom. Bine drawn by Robb, Hal-
lett, and Cu.. in London, were also returned nee •eoeptol.
Th. return of them bill, mom create a great d. of of diffi-
culty among houses here who remitted them to meet ma-
turing IwLihtl a abroad. The acceptance is London in an-
ticipation of reinittanees from thin site to meet the Lille have
of course been mode to an immenar amount, sail a. no le-
mittances have been made entre the revulsion here coin-
metered, the pesition of houses in London must be tendered

very premien..
The total nuiuber of Wens officially reported Moos the
lot of Augwt to about 900. It is eatinoweet that the total
liabilities of these suspensions will antoust to full ninety
walks of dollars. It will he seen by slot. that then, C.
pkety of food for a roma bankrupt law. During the
whole of the revulsion in 1837 the umber ur Miura

parted To this city wee about 600; Out the rattans under the
bankrupt law, to 1841, showed that 6,0110 took the benefit of
that act, shoeing liabilities amonattag to about 60,000,000
do
The announcement of the enefeenatuto of Robb. Hallett, sod
Co, this teaming, created some surprise. This; is a branch
of it house of the carne name M New Orleans. The bank 01
Jams Robb, of New Oaten., is a 'dock cmtpeny, and,
therefore, a separate cowern. The house of Tedient end
Wilde, of San Entneisce, was founded *ono yore since b
ice. Robb, taut it is, we believe, mDo n. consorted with
the Wise. here, except In their eaclumgn operation, which
will, we understand, be properly protract!. Mears. Robb,
Hallett, and Co. have •tinclo heap, in London. and they
have done a very large turrign examinee bookie...
The Lebanon Valley Railroad Company ha. beet obliged
to suspend its work near Harrisburg, and Live hundred and
04 labourer. are Boehm/Ted from its unfinished section..
The work upon the whole line of the Auburn and Allen
town railroad was Mopped last Wednesday, owing to the
zo.,=en of Messrs. Chotsan, Sandford, and Co. All the
have been discharged.
The 'bankruptcy lour large railroad companies must be
unfavourable latellegence to a large body of Euro-
pean capitalists, and to those homes directly cotteeted
with the finances of these companin the news will
be of the moat startling Importance. The Anglo-Ameri-
can banking-house of London will be the meet se-
rious sufferers by the collapse in our railroad credits. Se-
offal of them must he very deeply involved, end their capi-
tal.", however large they may be, may not sunk* to 611 the
vacuum caused by depreciation and octant for Td. It is well
kuown that 110010 dour largest reilroad loan. have been ne-
gotiated in London by the Anglo-American banking-horse,
and it is elm well known that they are direct holden ot.tze
antounta of our roost worthless railroad securities and
which se. not to-day worth ten ante on the dollar, anti
ranked as the lowest claw before this revulsion commenced.
These houses will he sorely tried by thba peak and
UM. The elan of houses to Londe' and Liverpool tMst:7l-1
feel seriously the state of our nuirkete are three directly and
indirectly connected with our foreign import trade. Them
concerns are pretty well distributed, and pretty well
backed up with capitol. They are located in all
the paneled cities of Oast Briton', and are able to
stand a pretty good bleeding. We do not fear much for
this clam ot merchant., for the aggregate amount due
horn thin side in the way et trade i not large. It most be
harm in mind that our actual indebtedneas on our last year's
foreign trade was not at the close wry hose). l'ayruenta up
to the latent moment before the rend ion commenced were
libetaly made, and we bare only to point to our immense
exportation of vitae daring the year ending June 30, 1867,
for a confirmation ot this statement. The balance due at the
close of the rid yesr, and the obligations int tiered on the
new, are so well distributed among the manofsaurers of
Europe that we do not look fur any dlettetrons cameo:names
to that clam In 1837 the foreign import trade of the
country wan carried on through credits with three great
banking houses In London, and the revulsion brought than
down without raining coy of the manufacturers of Birming-
ham or Manchester. This debt is sow better distrir
' hated, and withal cannot be very Jorge. The railroad
intend is a very &Rand affair. The full indebted-
INN of the different ruined companies is rerceented
an paper, and that paper floats about from hand to
had so much currency, or settles down in the hands of
capitalists and others as so much productive property. So
keg as its credit and negotiability is maintained, its value la
real, and represents actual wealth. It will pay debts from
a sea mea to another, and eaves materially in adjusting
Winces in money matters. The connect this ennaneue in-
Wrest Imeame discredited, that moment handredo of millions
a of pasprty become seminally valuate., and all these widely
eatweadrd banking houses and Imamaa loom. generally deal-
ing in and lamed upon this CLASS of securitim toured them.
rim at once without support. We have men the effect of
the collapse in the. property on this aide of the Atlantic. It
will not be many woeks lefts the full effect of such an utter
, annihilation of value will be seen upon the more clam of
banking houses in London.

LEPAIISURB Ur,t, 'THE NIAGARA.

PLYMOUTH, TEUBPDAT,

Thu units,d States ship Niagara, Captain Hudson,
lett this moraine' Co America,
Her laskjesty'r chip Imptlemdde &weed yen* mid the
burly cheers of the, men .cre returned by the Americana.

LETTER MN INDIA.