Maumee express. [volume] (Maumee City, Ohio) 1837-1838, 1837-05-06

DSence. particularly as IL was feared that
a large amount of American Bills on the
Bankers in London would come back.
Should the next packet not bring back
any bills, it would give great hope.
There had, howcve, been numerous iai-
ures in Liverpool, and Manchester; but
we could hear of only one at the former
place that has any connexion with New
York.
We regret to say, that the great staple
Cotton promised no better, although
there had been the day previous to the
day of sailing, slight recoery, but
prices were as low as they were in the
year 1881.
The London papers seem to groan
with speculatons on American credit
and means, and they look to us with pro-
digious anxiety. One leading Journal
says" That the impending difficulties
have been 'staved off," and some of those
who had been brought to the very verge
of ruin have been enabled to go on, is
most true; but the ultimate stability of
the parties in question depends neither
on the favorable nor unfavorable opinion
of Messrs.-,nor even on the smiles
or frowns ofthe Bank, but simply on the
capacity Of the Americans to repay the
inordinate advances made on their ac-
count.
"This is the point on which the whole
question hinges, the rest being merely
matter Of detail. If Jonathan stand with
out flinching the squeeze to which he will
he will now be subjected, the English
honses which have dealt with him as if
thereawas no limit to his riches, will get
advantageously out of the difficulties in
which they have been entangIed. But
any considerable failures in Ameica would
certainly have powerful influence here,
and might OCCASION reaction, of which it
is not easy to forsee the result,
The Bank of England has shown US
liberal spirit in coming forward to the
rescue, and we are glad to hear that the
agreement is to snstain them for six
months at least. The arrangement is
made from disposition to protect and
to sustain the mercantile community.
How different is the feelings of the gov
ernment of England to that manifested
by our own Here the government ap-
pear determined to pursue that extraor-
dinary career by which merchants are
to be crushed. The political, news is
hardly subject Of interest The cause
Of the Queen ofSpain was less favorable.
Gen. Evans had been repulsed, and for
ced to fall back.
In the Cotton manufacturing district
there is great deal of distress. But the
Woollen Blanket and Silk trade are
more active.
The public feeling in the city is more
excitedtha wehave even known it to be.
AS an evidence oft, meeting is called
to morrow evning. to take into cosider-
alton the mercantile distress Of the city,
Within the last ten days stoppages have
taken place among men who show thou
sands and hundreds of thousands of as
sets over and above every liability. y
hostile have the feelings fmany been &
wards those that have brought these evils
upon US, that it is said our commercial
representative, Mr.. Chamberleng, has
met with some rudeness in Wall street.
Much embarrassment has been expe-
rienced from the fact that the safety fund
western notes are no longer taken by
the brokers. A large portion Of the cir
culating medium OF the city and country
is in these bills, and SO long as they
could be sold at one and a half per cent.
they were taken freely. The remittan-.
ces from the country are allmostrallin-
these notes, and merchants who have
thousands Of them on hand cannot sell
them at any price. How different witlass
the New England bills. Even notes Of
the smallest bank in New England are
taken by all the brokers at one per cent.
discount. These banks have all kept
their credit up in Boston, and the con-
sequence is, they will now enjoy the cir
culation, not only oftheir own but ofthis
state.
We learn that atseveral members os the
regency, are here, endeavoring to make
arrangements for the redemption Of bills
of the banks ofthe west. Wehope they
may succeed.
We are happy to learn that up to a
late hour, no new failures had occurred.
This is good news.
The packets are all detained 10 dayby
head winds. .e
The weather has cleared off beautiful
Iy. But on Saturday we had a severe
storm ofsnow and sleet. The hill tops