The Sun.
London, England, 1836-11-07 00:00:00

SER VIA

FRONTIERS OF SERVIA, OCT. 20.—Accounts from Scra-
jevo say that tranquillity was restored in that town and the
provinces. The cholera has been very fatal at Bosnia. In

the capital of Serajevo, the population of which teas /0,000,
it has carried off 5,003. For same weeks there wove 150
t) 200 deaths daily. It is now abating.
VIENNA, ()CT. 28.—Five per Cents, ; Font' per
Cents, 991 , Three per Cents, 731 ; Bank Shares, 1,3..15.
—Allgenzeine Zietung, Nor. 2. •

POLAND.

We have received to-day some additional information re—

specting the measures lately adopted in Poland, in conse-
quence of an alleged conspiracy among the officers of the
army of occupation. Our correspondent does not apprise

us of the arriC,al in that eountry.of Messrs. Razinsff and
Krazinski, the extraordinary Commissioners (sent by 'le
Emperor Nicholas), but he mentiin; that a great numb u.

of arrests had taken place in difErcnt corps of the army,

and among the nobility and citizens, not only of the king-
dom of Poland, but of Lithuania, and of the once free
city of Cracow. A supply of artillery has been forwarded
to Wilna and Warsaw, where a certain number of cannon,
loaded with grape-shot, are constantly stationed in the
public squares. The most rigorous orders have been given
to the Custom officers and commanders of the military,
posts along the frontiers, to search most strictly the per-
sons of the travellers and waggoners, as also their goods.
and to stop all letters. Nothing. can now pass, without
undergoing a double or treble inspection ; passports, bills
of lading, seals—nothing- is respected. The merchants
complain sadly, but severe measures are adopted against
those who do so with any degree of vivacity. The appre-
hensions entertained by the Russian Government, respect-
ing the secret disaffection of the army, are not altogether
unfounded. The officers are continually changing from one
regiment to another—extraordinary measures of precaution
are daily enforced--and it is now notorious that Liberal,
we might say Republican, ideas have of late made alarming
progress in the army.
_____

(Froth the New York Papers received to the 18th ult.)
IMPORTANT TO MERCHANTS. •

New YORK, OCT. 15.—Almost every day this week we
have had a succession of arrivals. Our last dates are to the
14th of September from Europe. The most striking news
is, in England the money-market was tight, and a sort of
war commenced on United States bills, the object of which
was not to grant to the American merchant facilities for
exporting specie. Cash is so scare that bills on London
have fallen to 1071 for money, but ice paper 110 and 112
is paid freely ; the difference between cash and notes has
never been so great as it is now. The relief in the money-
market that was anticipated last week has not been realized.
The new bank has let out a million and a halt; but as the
specie they require to supply themselves with must be taken
from other banks, they have in turn diminished their loans
full a corresponding amount. Some of the banks are also ac-
cumulating specie : the Bank of America have the credit of
having on hand full 2,000,000 ; all this tends to keep money
scarce. The western banks are all pressed, and have to cur-
tail ; the order of the Treasury falls heavily on them, as
specie is required for their bills to buy lands with. All parts
of the country appear to be in a most deranged state ; and
this city being the common centre, the effect is felt here from
every extremity. The banks being wholly unable to satisfy
the demand, an immense amount of paper finds its way
into the street, and the regular rate of discount this week
has been one and a half to two per cent. a month—all stocks
have gone down, and Wall-street looks almost as bad as it

(lid in panic times. The report 'of the stock and share-
market for the 13th says,—' As low as stocks wera yester-
day. they arc two three per cent. lower to-day ; United
States Bank, 1161 ; Delaware and Hudson, 791 ; Morris
Canal, 88 ; State Bank, 106:} Atlantic Bank, 102,,J;.. We
observe sales of Vicksburgh Bank at 87i. One hundred
Atlantic Marine sold at 175 and 176 ; Jackson Marine,
91i : Mohawk, 81 ; Boston and Providence, 100. The
present very low prices of stocks must induce capitalists to
come into the market ; we look next week for a rise. Fri-
day, p.m.—As low as stocks were yesterdaAi they have de-
clined from three to five per cent. again to-day ; from ap-
pearances we should judge they have reached their lowest.
There has not been any failures of consequence. United
States Bank down to 116 ; Delaware and Hudson, 73 ;
Morris Canal, 82. The manner in which the stocks fall
can be seen by reference to the sales, each successive is
about one per cent. lower than the last.'
The New York Express says, "Ihe Bank of England
is making war upon American merchants.' It then proceeds
thus—

" The mercantile operations of this country with England
are based upon our export of cotton, rice, and tobacco.
Bills of exchange are their representatives. If our mer-
chants choose to take gold instead of British manufac-
tures, how can the Bank of England help itself? True,
these bills of exchange can be refused, and our merchants
put to great inconvenience. True, while the British are
selling goods on credit to all the other nations of the world,
the United States can be cut off from that credit, and our
merchants can be made to wait for British goods until our
cotton is in Manchester. But we can fearfully retaliate.
We are now England's best Customers, but we can 60011
manufacture-for ourselves. Again, if the Bank of England
will not do our business, banking-houses can be created in
Liverpool and Manchester that will. The locus in quo can
he easily changed, for instead of going from Liverpool to
London to discount bills, it is quite as easy to stop at
Liverpool, where our cotton finds its port. The Bank of
England, then, is throwing dust into its oven eyes.
" "Thus we perceive that, with the impracticable view of
stopping the exporting of gold, the Bank of England is
striking not only at our internal improvements, which pro-
mise to be, and are, the safest and surest stocks in the
world, but at ten American houses in England, which do
the business of 80,000,000 dols. in American trade. In-
diana wants .5,000,0'00 dols., Maryland 7,000,000 dols.,
and Kentucky 2,000,000 dols., for the purpose of internal
improvements, but the Bank of England is putting her veto
upon this. Supposing it was resolved in this country that
no discount should he made where any person was con-
nected with the cotton or British trade—this would he but
retaliation for an injury already begun. The Bank of Eng-
land has commenced a mercantile war upon us, and we have
a right to retaliate as we can, English merchants are
alarmed because gold comes here, and because the rate of
interest is rising in England, but even forgetting this one
important fact, that trade is equalizing itself, and that as
our packet ships link the English race of America with
the English race over sea, interest and everything else will
equalize themselves at last. We are but one people—one
in interest, one in spirit, and we are only comitbes together.
" In pecuniary affairs we do not like to sound an alarm,
but we must. say, that this bold and proscriptive act of the
Bank of England towards American merchants demands a
response from this side of the water. It is in principle but
little better than the other wars that England has unwisely
waged with her children before. Our Chambers of Coma
mice shot.ld take it up. The country should be made to
ring with denunciations of the act. We need British capi-
tal ; our internal improvements demand it, our enterprise
will sutiar without it. Every dollar laid out upon our rivers,
or in canal:', or railroads, is, as it were, sowing our land
broadcast with gold. The Bank of England, whether it is
driven by the spirit ofa visionary speculation, or jealousy of
our wonderful growth, lies no right to single out our land as
an object of •proseription.'"
In relation to the refuse of the Bank of England to dis-
count American paper, the e',"eze Irosie illorniilg Courier—
a greet authority in that city on financial and commercial
subjects—has the following :
It. is not correct to say, as has been asserted, that the
Bank of England has refused to discount paper having on it
the names of English houses trading to this country, or that
the governors of that institution ever had such a measure
under contemplation. It would have 'seen much too indis-
criminate in its character, for most of these houses have
lerger money transactions with the continent of Europe and
other parts of the world than they have with this country ;
and to have refused all bills of exchange, either accepted or
endorse by them, would have inflicted so severe a blow on
the whole Commerce of .Great Britain, that the Bank itself
must have fei: the recoil, and have sunk under universal in-
dignation, What the Batik for a short time did contem-
plate was to refuse all paper drawn in this country by
Banks, or other incorporated compenice, or houses in Eng-
land. On learning this a deputation was sent to London
by the bankers of I ayes: tool to remonstrate against the
measure, which had tiee desired effect. The idea was
-
given up, and at the last accu.. its, drafts of the character
referred to, were discounted with :ore than usual facility
by the Rink."'
It has been generally asserted, that the .01,ieeet of the
Bank, in the measure they had undo: consideration, was to
prevent the export of gold from England to the United
States. This we. very much doubt, There is no exporta-
tion of gold at present going on from England to this,
country. The rate of exchange ofiiirs riti inducement to it,
nor has it for a long time past. The ship; ienta that were
made a short time since from Europe were :.I.lde at the
instigation of our wise tnen.at, Washington, and were not
resorted to as the most advantageous mode of remio.ance.
These facts the Bank of England must have known, and
that at present there is no encouragement to ship specie
to the United States. We believe the fact is, that the
Governors of the Bank of England look with an eye of
jealousy at the investtnent of English capital in our icor.
porated companies, because, as they pay a rate of interest
so much higher than their own, they are apprehensive it
may depreciate the value of their own and thT nutiond
stock, and they therefore for a short time tliouilit of re.
jecting ail bills of exchange, evidently arising out of them,
Had they persisted in so -dising, which we repeat they have
not, it would only have made a difference of one-half per
cent. in the rate of exchange. Some twenty years ago the
Bank of England did not discount any foreign drafts drawn
on the outposts, though payable in London, rind the dills:-
yence it made in their negoeiatien on foreign exchanges was,
as above stated, but one-half per cent,"