The Sun.
London, England, 1846-02-03 00:00:00

LATER from the UNITED STATES
LIVERPOOL, SUNDAY.

The arrival at this port of the packet-ship Stephen
Whitney, Captain Popham, has put us in possession of
files of papers from New York to the date of her sailing,
the 13th of January, she having made the voyage in
nineteen days.

The debate in the House of Representatives upon the
question that twelve months' notice be given to Great
Britain of the termination of the joint occupancy of the
Oregon territory continued before the House, which had
resolved itself into a Committee of the whole House
from day to day, the speakers being for the most part
in favour of the notice being given, whilst a few wished
to place the power to give notice in the hands of the
President,, to use his discretion ; but as it is most pro-
bable the House will carry the resolution in the affirma-
tive, it is desirable to impress upon the minds of the
public that the decision of the House is always under
the control of the Senate, to whom we must really look
for a decision of this important question. The Washing-
ton correspondent of the Courier and Enquirer, writing
on this subject, remarks :
" The Oregon debate is now fairly opened in the House,
that body having to-day referred to the joint resolution to
give notice, to the Committee of the whole, where there will
be a full discussion. I hope that neither the commercial
comunity, nor capitalists will be in the least agitated by the
course the debate may take in the House. It is certain that
resolutions in favour of giving the notice will pass that body,
and whatever of warlike declamation members may indulge
in, should be. suffered to pass idly by. It is action in the
Senate that should be closely watched: if there the indica-
tions shall be in favour of giving the notice, then prepara-
tion should be made for the worst. As yet there have been
no developments either in the Senate or out of it, to justify
any settled conclusion as to the result in that body, but the
hope is strong that the council of moderation and wisdom
will prevail, and that the whole subject will be left with the
Executive, in the hope that an adjustment of the question
may yet be accomplished by negotiation.
The debate appeared likely to last some time, and is
fully reported in the public papers, being only remark-
able for the occasional viol'nce of the speakers. We
omit even an abstract; but shall look anxiously to a
future arrival for the result. In the meantime the
negotiations between Mr. Pukenham and the American
Government had not been renewed. Commercial affairs
at New York were dull, and the money and stock
markets or. the Bth, 9th, and 10th had been influenced
by a panic. The Courier and Enquirer says, that on
the 10th the panic was as great as ever, and as inex-
plicable as panics usually are. The nearest explanation
we suppose is, that the stocks have been held in large
amounts by a few hands, and that the scarcity of money
compels the sale of them, and they are thus forced upon
a market in which, for the same cause, buyers are scarce.
The rate of exchange is nominally 1081 to 1084, as no
business was doing. This accounts well enough for
the stock panic ; but what causes the scarcity of
money, while exchanges are all in favour of the United
States, and commerce generally is on a sound footing ?
Here political apprehension has its part ; to which
add—as has heretofore been frequently said by us—the
large sums locked up in flour speculations, and the
rather stringent retrenchment of the banks, within the
last sixty days —and we have probably the solution of
the question. The sales at the Board of Brokers this
morning were to fair extent. Ohio Sixes declinel
Ilinois Bonds Harlem Railroad 3, Erie Railroad 2,
Farmers' Loan 1, Morris Canal Long Island Rail-
road 31, Canton Company 31, Norwich and Worcester
Railroad 3, and Reading Railroad 1 per cent.

An parties, speculators and buyers, in the flour and
cotton market, are eagerly looking out for European
news ; and as our last dates from England were of the
4th ult., we may reasonably expect about this time to
receive by the sailing packets some days later intelli-
gence.

The steamer of 4th instant can hardly be looked for
before the 20th instant, and the intervening ten days
may furni.h a chance for the sailing packets.