The Sun.
London, England, 1842-01-22 00:00:00

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LONDON.
SATURDAY, JANUARY 22, 1842.

By the arrival of the packet-ship Cambridge,
Captain BARSTOW, at Liverpool yesterday even-
ing, we have received New 'York papers to the
4th inst., being four days later than the last arri-
val from that city. The Ist being New Year's
Day, was observed as a holiday, and on the 2d
(Sunday) little or no business was done. On the
3d, business transactions were rather brisk, pre-
paratory to the sailing of the packet. The year
just closed had been very far from a prosperous
one for the commercialists of the United States.
Brightand cheering were the prospects with which
the American journals ushered in the year 1841.
The banks in Philadelphia had declared their in-
tention of resuming specie payments, and four-
teen days subsequently did actually resume them.
The banks of Baltiinore and Virginia, and those
of the South and West, were expected to follow
the example of Philadelphia; instead of which
they resolved not to resume, and thus the
whole banking systein was thrown into a
state of inextricable confusion. The Phila-
delphia banks could not stand alone, and
thus the entire currency of the country at
homebecanie deranged to the material injury
of the national credit abroad. To remedy these
evils a Bank Bill was prepared, but when it was
about to pass Congress, President HARRISON
died, and his successor President TYLER, thought
proper to veto to it, and thus leave matters as
they stood. Congress is now assembled, but
there are few indications that much good will be
done this year. The amendments proposed in the
Constitution, and the right of search question, are
dwelt more upon than the monetary affairs of the
Union. The currency is in , a deplorable condi-
tion, and some States are without a currency at
all. Stocks of all kinds have Eillen within the
year to a ruinous extent. As compared with the

31st of December, 1840, the 31st of December,
1841, exhibits a decline of 25 per cent. in Pen-
sylvania Stocks, 27 in Ohio, 57 in Illinois Bonds,
57 in Indiana, 34 in American Exchange
Bank, 44 in United States Bank, 34 in
Mechanics ditto, 60 in Farmers' Trust ditto,
65 in Illinois State ditto, and so on
of all other descriptions of American domestic
stocks. Much of this evil is attributable to the
influence of newspapers opposed to the credit
system; bift the system must have been unsound
Nvh MI fell before the attacks of BENNETT's He-
raid, notwithstanding their quotation by the
London press.

There is one piece of information brought by

these Journals, which is calculated to encourage
a hope that something will be done by the Legis-
lature to settle the currency question. It is
this:—there is not• money in the State coffers
to pay the wages of the members of Congress.
Now, although the members of Congress might
bear with tolerable equanimity the empty cof-
fers of other people, they will not exhibit any
surprising indifference to the state of their own.
Congress is composed of men by no means indif-
ferent to their own interests.

On the 81st ult., a steamer went down to tilt
quaiantine ground, New York, to receive the
luggage of Sir Ch ARLES BAGOT, Governor:Gene-
mai of Canada, on board the Illustri•Jus, 74
forty-two tons of luggage were lioi.sterl on board,
including two carriages. The T:ilustrious saluted
the United States flag with treenty-one guns, and
it was not till the officers went on shore that they
learned that the Prince of WALES was born,
whose health was quaffed in many a bumper.
The New Yorkers received the British officers
with great courtesy, and several entertainments
were spoken of as intended to be given to them.
Among the first to visit Sir CHARLES BAGOT was
Lord MORPETH.

The cgpture og the Texan Santa Fe expedition
by the h 9 cx ti a r E iscentirrned in these Journals.