Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1837-06-21
From the Journal Of Commerce.
FIVE DAYS LATER FROM EUROPE.

FIVE DAYS LATER FROM EUROPE.
The packet ship Philadelphia has just arrived,
bringing us London papers to Monday. the LIST
May, inclusive. ,g,. 49,
There had been a decided improvement in cot.
ton.
Advices from New York to April 10th crea-
ted as might have been expected, strong sensa-
ton in England. The worst, however, was yet
to come.
The accounts from Madrid are to April 22d,
and from the frontier to the 25th. Madrid was
tranquil. No new occurrence of Importance.
A destr uctive fire occurred at Dublin, April
25th. Thirty shops in the Royal Arcade Bazaar.
and others adjacent, were burnt. occasioping .
loss, as estimated, of $3.50, 900.
The death of M. Ancillon, foreign secretary 20
tile king of Prussia, is announced.
Meunier, who attempted to assassnate tho
king of France, was condemned to death by the
court of Peers, but his sentence was commuted
by the king to perpetual banishment. Lavaux
and Lacaze, who were tried as his accomplices,
were found not guilty.
| The British ship Scout, 10 guns, commander
Craige, captured on tho 5th Of Dec. off the Bon
| nv river, Baltimore built schooner under Span
ish colors, with Ill slaves on board.
London, Saturday evening, April 29th.-
Much more anxiety has prevailed in the mercan-
tile classes more Immediately connected with tho
| American trade, in consequence of the CONNIE
cial advices from New York, of the 9Th inst, z
the packet ship Independence, and which were
received this morning. However anxious the
| state of the commercial affairs at New York may
have rendered the merchant this side of the
Atlantic, it is admitted that it has been anticipa-
| ted by precautionary measures, which will, at
any rate for time relieve the pressure here
Tho difficulties in New York and the other prin-
cipal cities of the Union have, however, proved to
be far greater than some very sanguine parties
| anticipated.
Great difficulties existed in obtaining bonds of
the Bank of the United States, ard as that es-
Enlistment required premium Of per centum,
none but the most opuent firms could bear tho
enormous charge of that mode of remittance,
and of course, the weaker houses suffered much
more under the general pressure, which was
| considerably augmented by the receipt of the
advices from this country Of the H. tn ult. at New
York.
Some few letters are very sanguine upon the
results OF the then trying period, upon what
grounds 1t is, however, difficult 10 imagine since
although these newly created American bonds
have nearly year TO run, there must be very
great reaction in the commercial afflirs ofthe u.
States to enable the United States Bank to meet
them without creating future pressure in the
money market there.
Some considerable anxiety was created in the
mercantile interests generally, by the announce
ment of the failure of Messrs. Msjoribanks, For
rers g. Co. a firm which has borne the highest
character in the East India and China trade
Their losses arc ascribed to the great decline in
teas and other China and India produce, and a,
this failure is likely to cause much ofthat kind Of
produce to be thrown upon the market, il is fear
| cd that other houses will be involved The adop
ton of new free trade theories, at present hat
turned out to be very dangerous experiment
and it will be long ere our commercial Interest,"
finally recover from its effects.
The greatest attention, is however fixed upor
the Bank of England. The state of our com
mercla relations in the eastern and western work.
must involve the directors of that incorporation
in very great responsibility; an artificial ex
pansion of the currency of Great Britain and A
merica with reckless contraction of the same il
both countries, bids fair to shake the CONNIE re,
of the two to its foundation. The greatest eau
ton combined with liberality ought to be now OK
ercised by the bank direction here. The policy
of their opening credit accounts with the princi
pal banks of the u. States, whilst SO large an
mount of bonds is in circulation, has been scri
ously questioned, and the directors have ts'
more pains than formerly to obtain correcti
nation of the state of the commercial n
market on the other side of the Atlantic.
Some objection has been made to the new BIZ
, of the u. s. bank to day, which have been re
we'd by this arrival, in consequence of their ha,
ing been made payable to order and not to bearer
which has rather checked the desire to deal h
them il is obvious that temporary spectators O
the stock exchange are not DESTROYS of incurrin
the responsibility of endorsing species of pape
that, after all, is founded upon questionable prir
ciples, since upon every bargain an endorsement
would be required, that would open field to com
pound liabilities, that have not been rightly cal
culated upon. The bonds payable TO bearer hav
been sold to a small amount at 943 to IS, an,
Morris banking CO. SO to 963.