The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1839-11-26 00:00:00

_ thriTooi (tt.tanllarrl.

7,
Y MORNING, NOVEMBER 26, 1839.

11Y the new packet-ship Patrick Henry, Captain
N.elano, which arrived here yesterday, we have received
pew York papers to the 7th instant, inclusive. The
(ck Henry accomplished. the voyage in seventeen
the
She is a splendid vessel, having something of
e appearance of a frigate. She has brought Canada
1)
4Pc!rs to the 4th instant.
w'rhto Great Western, which left Bristol on the 19th
B,t,ial, 4, p.m., arrived at New York on the 2d in-
m at 11, p.m., having made the passage in fourteen
4r.8 seven hours. This vessel took out the news of
Jaudon's success in surmounting the financial dif-
ficulties with which he was surrounded as the ta represen-
tive
h of the. United States Bank. The effect produced
tisL„th,is flews on the New York money market was ra-
gther favourable in the first instance. The shares in the
aited States Bank rose five per cent. The market,
flvever, quickly declined, and stocks fell to their
C(1.,,111er level. The quantities of stock returned by the
'La/ Western, as unsaleable in the P:uropean market,
(14 a Powerful effect in depreciating the value of every
;eription of stock at New York.
of 1 first meeting of the delegates to the Convention
nierehants and Planters was held at Macon, Georgia,
ttle 22d of October, eighty-four being present, from
twe°rgia, Florida, and Alabama. On the 23d, twenty-
; additional delegates appeared, from various parts
of the above states and South Carolina. A committee
of ttLentY-one was appointed to report on the objects
uti:' Convention. The following report from the
read!" of the celebrated " Cotton circular" was then
4g A
resolution was adopted by the meeting of Southern
liners
and merchants, held in the city of New York, on the
of July last.
thi:,,neselved,—That General J. Hamilton be authorised by
five i;seethig to make preliminary arrangements with four qr
take
the
uses in Liverpool, and with three or four in Havre,. to
ruem,le,,egeney of receiving and disposing of such consign-
-4coor"d:t cotton, from the South, as may go forwarded in
veatio II" with such measures as may be adopted by a con-
clay proposed to be held in Macon, Ga., on the 4th Toes-
saidciet:f3ctober next. And that he be requested to lay before
coinsitB I
vention what he may do in the premises, subject to
deration and approval.
foraled be g leave to report to this convention that I have per-
above „ the duty comprehended within the restrictions of the
or August On my arrival in Liverpool, on the 15th
log lions
es last, I lost no time in conferring with the follow-
s
l‘t l~lessrs•
olforA 7
Yu liamphries and Biddle, Prince and Fontaine,
eaux
eatherby, and Co., Parton, Parker, and Co.,
andA Co,.
•Atid
414,,e "the Bth September with the' following houses in
lessrs. Delauney and Co., Dupasseur and Co., Pitray,
\\7en.4„4(l CO., Lewis, Rodgers and Co., Hottinguer and Co.,
1,-(71(1 Ureen, Bounaffe, Boisgerard and Co.
had be all which houses I explained fully the measures which
of Jule suggested by the meeting at New York, on the sth
the
(last, for the consideration of this convention, and
chatts Which it would be expected that they would dis-
%der° under the proposed agency ; that by placing them
(11.4 w au advance in fact, and merely as the acceptors of bills,
4101:4 or endorsed by the responsible banks at the South
be it would be expected that their attention would
oails'ig-cted to the most advantageous sale of the respective
eo4eegrtninents confided to their care, and to acting in entire
Whose together in reference, as to the best interest of those
``ltPr?PertY they might hold.
}louses will be perceived that in submitting the above list of
with the underAanding I have had respectively with
~baVe discharged that portion of the duty confided to
it rne..`"..uerefore, with the simple expression of my opinion,
be
1,1'.1Y remains for me to say, that every confidence may
compoesied in the ability and disposition of the gentlemen
Whi ag those firms, to carry into effect those measures
l'elit11", form the subject of the deliberations of this con-
lions
fro It remains for the convention to make the selec-
where °in the above houses, or to delegate the trust else-
fully as they may
submitted. deem proper. All of which is respect-

" J. HAMILTON.

I , Iva (Signed)
m...
~.1 eon, October 22, 1839."
te,012
.-Tallible of Florida then submitted the following.
twenty,-ti°lls, which were referred to the committee of
I,olle, as was also the report of General Hamilton.
thtteu'solved,--That the gentlemen who issued the circular.o.
(4 thi,s,,th July, in New York, which has caused the medal,
villo , , `:°llvention, are entitled to the thanks of every citizen
t
Bta,melsofintiteere_sted in the cultivation or export of the great
..:outh.
°Ditli: °lved,--That this Convention entirely concurs in
ent;hre.
etn,l,llll
tes"Pressed in the said circular, that, owing to th
fiarite;.ne Under which the cotton crop is usually sentd h
to
the fair he Price of the article is not left to be regulated
dey
luaild: and natural influences of the law and supply of
ite
s°lvedr—As the opinion of this convention, that a re-

medy for the evil, as effective of its object as it is simple in
its character, will be found in the recommendation of the
circular, ' that the cotton of our country shall not be sent to
market, accompanied by a bill of exchange, which must co-
erce its sale, at a fixed date, whatever may be the state of the
market.'

" Resolved,—That the cotton planters and American slip-
pers, in the Southern ports, be earnestly requested to concur
in the measures recommended by this Convention, by which
they may be certain of having their cotton held, and not
forced on the market a. a ruinous sacrifice.

" Resolved,—That the banks in the Southern States be
invited to concur in a general system of advancing on the
crop, as the only certain means of replenishing their stock of
specie, and of placing their circulation on a sound basis.
" Resolved,—That the committee at Mobile and New
Orleans be requested to call a meeting of the directors of
the banks, planters, factors, and American cotton shippers,
in their respective cities, at an early day, in November next,
that the proceedings of this Convention may be laid before
them.

The seventh resolution nominates committees for New
Orleans, Mobile, Savannah, Charleston, Columbia, Ham-
burg, S.C., Augusta, Milledgeville, Macon, Columbus,
Montgomery, Tuscaloosa, Columbus (Mississippi,) Natchez,
Vicksburgh, Tallahasse, St. Josephs, and Apalachicola.
" Resolved,—That the foregoing committee be specially
requested to carry into effect the duties confided to them in
the above report, and they may communicate to the central
committee, at Mobile, what they have done in the premises,
that the same may be announced in the public journals of
the respective States.

" Resolved,—That the said committees be requested to
supply all vacancies which may occur in their respective
bodies.

" Resolved,—That the banks and several counties and dis-
tricts in the cotton states, be requested to send delegates to
the Commercial Convention,' to meet in Macon, Georgia,
in May next, to unite with that body for the purpose of
taking into consideration the currency of the country, and
the interests of the cotton trade, by which the direct trade
with Europe has essentially to be promoted."
On the 24th of October the committee of twenty-one
submitted their report on the foregoing. This docu-
ment occupies several columns in the Southern Post ;
the substance is, however, embodied in the above re-
solutions. On Friday we may probably give a few
extracts from this voluminous report.

As we shall subjoin several extracts respecting the
New York Money market we need not here give more
than a few leading features. The New York Gazette
of the 7th instant says, "Stocks yesterday sustained a
very great falling off from the closing rates of the pre-
vious day, almost every description having declined.
The sales were to a very large amount. United States
Bank receded full 10 per cent. on the last sales of
Tuesday. The closing sale was at 68, seller 17 days.
The cause assigned for so great a fall in one day is,
that the time allotted for receiving the stock of the bank
in payment for debts due to the old institution expired
on Tuesday." The same journal furnishes us with the
following particula.is respecting other banks :—" Letters
from Macon state that the Monroe Rail-road Bank,
and the Ocmulgee Bank have formally suspended specie
payments. The certified checks of the North American
Trust Company are refused by the other banks of our
city. A general resumption of specie payments by the
banks of Tennesee is confidently spoken of by the
papers of that state."
The Philadelphia Herald of the 6th instant says that
there was a decided improvement in stocks at that place,
and sales of United States bank post notes were made
at i per cent. per month discount.
The Charleston Courier, of the 2d instant, says that
both foreign and domestic exchange continued un-
settled. Bills on England were at a nominal quotation
of 9 to 11 per cent. premium.
The New Orleans Louisiana, of the 28th ult., says
the suspension of most of the banks south of New York
had not yet had any material effect on the exchange.
Exchange on London .was quoted at 11 per cent. pre-
mium, but large transactions could not be made at
more than 10 per cent: On France, bills were plentiful,
based on cotton shipments, at sf. 20.

From Upper Canada, we learn that a call had been
made on Sir George Arthur, by the Board of Trade,
to prolong the suspension of specie payments by the
bank of the province, which he declined. The banks
resumed on the Ist instant, without making any similar
application.
The citizens of New York had been engaged for
three days in their municipal elections. The contest
closed on the 6th instant, in the complete triumph of
the Loco Foco, or the Administration party. The
New York Gazette, (a Whig paper,) attributes the de-
feat of its party to the brutal intimidation of their
opponents. It says that, in the First Ward alone, more
than 150 citizens, legally entitled to their privilege of
voting, were driven away from the polls by the outrages
of blackguard challengers, encouraged and supported
by the inspectors ;" adding, that " the other stong
Whig Wards have exhibited the same shameless viola-
tion of decorum, and the same reckless disregard of
right, justice, and decency." We quote this forcible
language as an admirable illustration of the beauty of
ballot voting. Will our contemporary of the Journal
now acknowledge that such scenes may be enacted
under the protection of the ballot-box ?
We regret to learn that the sickness still prevails at
Mobile. A letter from that place, dated Oct. 27th,
says—" The sickness for the last four or five days has
increased bOth in extent and malignity. Capt. Clark,
of the Commerce, died in the early part of this week ;
and Capt. W. W. Fry now has the black vomit, and
will not probably see another sunrise." At Natchez
also the sickness continued very fatal. At St. Mar-
tinsville and Franklin it was also raging with increased
mortality. At New Orleans also the deaths from fever
•
were still numerous.

Incendiary fires seem to be as numerous as ever in
the United States. A valuable new paper-mill at Mor-
ristown had been recently burnt down. The loss was
estimated at 20,000 dollars.

A very severe gale had been experienced on Lake
Michigan. Several vessels were driven ashore, and
their cargoes of produce lost or damaged.
The captain of the American schooner Butterfly,
captured by the British brig Dolphin, has been held
to bail by Judge Betts, of New York, in the sum of
3,000 dollars, to answer the charge brought against
him.

Sir Lionel Smith, late Governor of Jamaica, had ar-
rived at New York, in the British ship Serpent, and
was about to proceed in her to Bermuda.
Port-au-Prince papers to the 10th ult. had been re-
ceived at New York. President Boyer was at logger-
heads with the House of Representatives, growing out
of a difference of opinion as to the prerogatives and
powers of that body. The dispute had become. so
warm and exciting, that a revolutionary attempt ap-
pears to have been apprehended by the Executive, who,
in a proclamation of October 10th, calls upon the com-
manders of the arrondissements and communes, upon
the commissaries of the government, and all other
public officers, on their personal responsibility, to pro-
secute and punish, according to law, all agitators who
might attempt to disturb public order.
From Texas there is no news, excepting the an-
nouncement that the yellow fever was raging in Hous-
ton, and that the deaths were eight or ten every day.
At Galveston the epidemic was on the decline.
The news from Mexico is to a late date. The Re-
public was in a:state of tranquillity, the Federalists hav-
ing been completely put down. The Central Govern-
ment was more firmly established than before. The
Congress were proceeding to reform the' constitution,
agreeably to the expressed wish of the ex-President,
Santa Anna. The French brig Naiade, lying at Vera
Cruz, bad received on board the last instalment of
600,000 dollars agreed to be paid to France by the
Mexican Government.