Maumee express. [volume] (Maumee City, Ohio) 1837-1838, 1837-07-08

ing from the want Of employment, and
the government was doing what it could
for their relief. The Paris Journals are
full of political speculations.
The recent acts Of clemency appear
to have much increased the Kings pop
ularity. He had gone about as in for
mer years without guards, mingling
freely with the people, and everywhere
greeted with hearty acclamations, He
promenaded for some time in the Gar
den Of Plants, with only two or three at
tendants, and at another day he visited
the museum at Versailles and reviewed
the school of St. Cyr, wi thout any of
the late precautions. t
Gov. Cass and suite sailed from Mar
seilles on the I'd of May, on board the
frlgate Constitution.
There had been much fighting in
Spain, with alternate successes. The
Christmas had repossessed themselves
of Hermann, and taken Irun, after des-
perateresistance.
Mrs. Lockhart, only surviving daugh-
ter of Sir Walter Scott, died on the 18th
of May.
LONDON, May 22.-It is true, as stated
by some of our contemporaries, that the
bank of the United States has declined
to open credit with the bank of Eng
land, FOR the use of the American mer-
chants, on the terms proposed by the
bank ofEngland. But it is farther true
that the declinature is not defnitive, but
only for the present !; and it is most like
ly that some arrangement of the kind
will still be come to. We be-
live that the bank of the Uuited States
felt itself no indisposition to the terms
by the band OF England, with
respect to the payment of a fportion of
the credit in specie, &c. But she was
afaid, and justly perhaps, that if she sub
scribed, in the existing state of things.
to any such condition, she would be
accused, how absurdly soever, OF play
ing into the hands of the Bank of Eng
land, and might, by shipping specie,
have provoked run on the banks. We
regret the circumstance, because the ar
had it been gone into. would
have been of considerable advantage to
the commerce of both countries; but we
were never sanguine as to its success.
On the contrary, our readers will proba-
bly recolect that on various occasions
we have endeavored to show how little
probability there was of our getting bull
lion from America, and that it was to the
continent. and to the continent only,
that we should look for the supply of
the banks Golfers. Neither is it all ne
cessary to the adjustment ofthe trans
actions between the two countries, that
the United states should send us six
pence worth of bullion. The immediate
cause of the panic in that country, is,
first the failures in the south, caused prin-
cipally, by the heavy fall in cotton and,
second, the expected failure of most Of
the great American houses on this side
of the water. But according as
information reached America of the
liberal and judicious measurers adop-
ted by the bank of England, for OBJ
Waiting the latter source OF alarm, conf.
dence would begin to be restored; and
the merchants and bankers of New York
and other great towns, would no longer
be distracted and paralyzed by the ap-
prehension of having, in addition to their
own obligations, to provide for the pay
ment of several millions Of returned. bills.
No doubt, therefore, we shall. in short
time hear of the abatement OF the
tempest in the United States. In the
mean time all importation into the
U. States from Europe, may be said
to be completely at an end, while every
thing is being shipped from them, for
which any market can be found here or
elsewhere. Some Of the banks are ac-
tually shipping cotton; and when we
take into view that the exports from
America to Europe only, amount to 49,
OOO,OOOl sterling year, and her I'M
ports 10 rather more, it is easy to see
what an immense capacity of payment
she will provide for herself, by keeping
up her exports to as high, and reducing
her imports to as low level as posi-
Bile. The Americans will, by thi:
means, accumulate fund most likely, o
10000, ,o00l, but certainly Of 100000
in Europe, for the cancelling Of theil
debts; and they will in this way, be abl'
to get rid of them, Independently alto
gether of the resources Of bonds, o
which, however, they will not be able t
avail themselves.
1t is true that the stoppage Of import
into the United States involves our man