The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-05-12
From the Ner York Times.
LATER FROM EUROPE.

The packet ship United States, Capt. HoLDRspos,
arrived yesterday from Liverpool and brings US Lon
don papers TO the Tth ut and Liverpool TO The 9th.
The dates from London one day later than those
brought by the steam ship Great Western. The
packet ship Francois L. Capt. PELL arrived yesier-
day from Havre and though with no later dates than
before received from Paris and Hayre, complete
files Of papers enable MS to lay before readers
some additional particulars Of affairs there.
The London money market has not undergone
any change
The Liverpool cotton market has not been quite
SO anlmaled, but no decline was noticed on Saturday,
the Nh ult for the two or three DAYS previous.
The proceedings in Parliament on the 9Th ulttimo
are not Of interest here. An elected member, Mr..
Pouer was 10 be called to the bar of The House, and
the printer OF The Morning Chronicle, for an alleged
breach OF privilege committed by the publication oil
letter In which the decision Of the committee on his
election was impugned.
Much alarm continues 10 prevail IN Paris at the
extent to which stock jobbng is carried on in shares
of joint stock companies. We have translated part
of debate thai subject which has taken place in
the Chamber OF Deputies. On the extraordinary cir
cular letter of NJ Martin, (du Nord) on the state OF
our Banks, We find the following: IL appears that
this alarming communication was duly appreciated
at HaVre and those other ports in France where the
merchants being in direct and daily communication
with their United States agents and correspondents,
were able 10 correct the statements and impressions
conlai ned in the ministerial circular"
According 10 some information which we md IN
the Commerce, on this head, Lyons does not appear
10 have been SO fortunate, owing To her communica-
lions with America being less direct than the sea-
port towns, and being already cred tors 10 very
large amount the manufacturers OF thai city, alarm
ed by the representations OF the French Minister OF
Commerce, refused TO execute some very large or
derS for silks which had arrived, and which conse-
quently have been undertaken in another country,
where the Americans enjoy better credit. That paper
concludes by asking what is the of Minister OF
Commerce whose acts are shown by the above facts
10 be SO FAR from afordng protection TO manufactures
and commerce. that they have only tended 10 mislead
and depress the staple of the Kingdom
The Courier Francais signaZes the rage which
tpresent seems 10 possess all France for establishing
companies, purchasing shares in them and exchang-
ing homes, money for worthless paper. "The great
fashion Of the day" says the Courier are the coal
mine companies A speculator finds, in the northern
or centre districts, some mine which has been ne
elected and which he can purchase for two or three
hundred thousand francs. Straighlway, on no other
foundation than that OF complasanl imagination,
he Occupies the value OF his mine, forms company,
company is established, and the shares at pre-
MUM, the knowing ones retire"
There are some frontier towns where this coal
rage Is excited 10 such an extent that companies are
formed even before the mine is discovered! What
aStonishes us says the Courier Francais is not that
there should be rouges TO cheat the public, but that
the public should still consent to be gulled and
the faith OF braggart prospectus in journal, sacri-
hce the fruits OF long years of painful and honest
labor. In commerce. as in science or politics, no
thing great is done Of sudden. Exaggerated profits
are only possible for those who may lose in like
ratio. Do not fancy commerce mere gambling;
if you do, and will gamble, you may find spectators
on the Bourse who play against you with loaded