Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-06-08
M FORMING HERALD.


have important accounts to the evening OF the Is
of May.
The general complexion of these accounts Is favor
able-more so than we had reason 10 expect I'M
full eect,of our revusion had not been felt IN Eng
land. but there is no probability that 1t would create
greater disturbance than we have already SEEN TIL,
susnension Of specie payments here would material,
relieve the English money market. England is NOR
affected with the arrangement of her East India trade
than her American trade. Our opinion is that III,
worst beth in England and the United States has
been SEEN The packet of the 10th April was bad
but that news would not increase the difficulty
Things would hang till the 10th Of May, when ouI
banks suspendcd-that being real relief to the Lon
don market.
The improvement in the Price of cotton is good
news.
LONDON, May Cry, IL oclock.-The accounts
received from Manchester and the other principal
manufacturing districts speak of a revival of conf
dence. The speculative and bona tide operations In
cotton at Liverpool had much increased.
There are late advlces from Canton today Ohlcal
dispatches had been received out by the secretary Of
state for foreign affairs, sgnyng the abolition OF the
Office and salary of the chief superintendent OF the
trade Of British subjects in China and that his majes-
tvs government had been pleased to appoint Captain
Charles Elliott r. ~, 10 perform the duties of the
chief OF the commission. IL 10 stated IN the Canton
tain Elliott to come 10 Canton from Macao, if his OBJ
ject were TO trade; but that if he came there in any
other character he would have to wait till orders
received from Pekn, to allow him to remain. The
price OF teas continued high.
The opium trade was very dull the government OF
China taking strict measures to prevent operations,
the dealers and brokers remained their places of
concealmenL not daring to show themselves. The
silk market was firm for the finer samples which
were scarce.
II appears by the accounts received TODAY from
Montreal to the 4h ult that considerable quantity
of specie had been brought in there from New York.
which had enabled the banks to give greater facilities
TO the public, which would be required when the sea-
son opened, and business resumed. sRsxSN
From Nottingham correspondent writes fol-
lows IL have infinite pleasure in conveying to you
the pleasing news that the appearance OF Glamour and
disturbance has subsidized and the minds OF the indus
trial classes Of society for the present sunk into epose
and quietncss; but how long it may continue, must
entirely depend upon whether they can be reinstaed
again in employment sufficient for the purpose OF sub
sistence, by demand for the productions of their
many and varied articles offashion and utility requir-
ed for home and foreign consumption. Evidently for
the present these markets closed to British indus
try and without some great effort on the part of the
Legislature of this country TO regulate and extend the
circulating medium, as 10 who shall be its money ma
kers neither the working class nor those connected
with mercantile affairs possibly expect any other
state of things than what the present unhappy result
presents the starvation of our mechanical popuation
long established and one of the most respectable
firms connected with Ahe East India trade that of
Messrs Maoribanks, Fcrreys, d Co., suspended pay
ment today in consequence, It IS stated, OF very Sc
losses which they have recently sustained in the
importation of teas. From the powerful connection
they possess and the manner which they have con-
Quoted business this event occasoned the greatest
sensation on Change and the news from the United
States, almost wholly lest sight of in conse-
quence of an announcement so wholly unexpected
uxA liz cd III
THE AMERICAN PAMc.-The intelligence this
morning from New York reaches to the 10th instant
The panic there during the previous week had been
greater than at any other PERIOD and number of the
most saunch houses heretofore mad been compelled 10
stop, suspend or ask for assistance. Confidence was
so FRUSTRATED that il was amest impossible to obtain
money paper and loans upon the post bills of the
Hudson Bank, which have been always considered a
good investment were with difficulty obtained at II
per cent per month. The assistance rendered by the
different banks had greatly relieved the commercial
community, but the effect was not so general as was
requisite Notice had been given by the United
States bank to issue poet notes. payable there, which
was expected would tend than any thing else
10 allay the mischief The latest advices from this
country were the llth of March, by the Sheffield,
therefore they have s toearn the worst FEATURE as II
was on The 23d ultimo that the American firms were
compelled TO apply to the Bank OF England 10 save
them from stopping and which, Of course, led TO the
rejection of such large amount of bills on their pre-
sentston for acceptance. This packet brings Amer
lean bonds TO the amount of nearly million ser-
hing; the quantity sf specie which has arrived is
mere bagatele,vnot exceeding 10000 dollars. The
rate Of exchange, however had again advanced, the
last quotston at New York beng 1854, and thereto
the loss which would accrue from shipment Of the
precious metals had been increased. All kinds OF
public securities had sustained serious depression.
FRAScE.-The vote of million Of francs dowry TO
the Queen of the Belgians passed the Chamber on
Thursday evening by 239 votes to lao So large a
majority was not expected; and such mIstrust of it's
passing was entertained that nj. Montaivet went
through with evident shame and reluctance, into diff
fereni mlnutn of royal expenditure. The crcum-
stances which produced the majority, and rallied the
Centres back TO the support Of royalty even when
making unwarranted demands was the appearance
of N. CormenIn at the tribune. The chamber il too
much committed TO the dynasty Of the Citlzen King,
not to step forward the champion OF the royal ia
mily, when stacked by gentleman who has made
himself 40 odous TO the court N. Cormenn may
have much augmented the popular objections to these
sotations of the Kings children, but most certainly
he also much augmented, on Thursday, the majority
In favor Of the dowry.
The attention Of the financial world has been re-
Gently occupied with the project of loan for the Spa
n,sh government; we submit the information we
have collected on this subject without however, YOU
ching for its authenticity. negotiation this ef
feet was opened between the cabinet Of Madrid and
some eminent capitalists for operation TO be foun
ded on n guarantee (more moral than positive ma
teriaD TO be gwen by the French and English govern
ments This was the object ofthe visit OF NJ. Marlan,
Spanish Consul General at Paris, to Madrid. We be-
heve that we are correct in saying that the negocia