The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-10-20

selections from the English papers
MExIco-The most important news by this arri-
val the latest accounts given OF The disposition
and movements Of the governments Of France and
England relative to the blockade OF Mexico. we
have private intelligence from Paris from our cor
respondent there, which is particularly Interesting
at this moment
vile had sailed for Vera Cruz with fleet OF three
ships of the line and two bomb vessels for the pur
pose Of reinforcing The French fleet before that city
II is supposed In Paris, and in London, that the
French government have the intention OF possessing
themselves Of some point daPpai on the southern
continent OF America. Al all events the Prince is
expected to strike blow, If the Mexicans do not
YIELD sufficient TO permit the King 10 refer TO Il with
ecidL at the next opening OF the Chambers.
The French blockade Of Mexico is creating
great sensation In England and Europe.
We have received some important facts OF the
views Of the French, and the policy OF the Mexi-
cans.
Ii seems that Mr. Henderson, the diplomatic agent
from Texas, was in France in the month OF August
or September. In Paris, we learn that he had Ell
fected commercial treaty with England. As soon
this important point had been effected In London,
Mr.. Henderson proceeded TO Paris TO negotiate
similar treaty there. While In Paris the news Of
the blockade of Mexico gave new view TO the po-
sition of affairs. 1t was supposed that II Mexico
did not settle her differences with France, that, by
some secret arrangement, the Texans would attack
Mexico by land simultaneously with the attack by
the French feet by sea. All that the government Of
Texas wanted to raise 10000 men IN the western
states was a sufficency OF money. This advance
might be made by France on secret treaty, giving
great advantages TO the Texans. On the other hand,
the diplomatic agents of the Mexican and Buenos
Ayrean governments were not idle In England. II
was currently stated In the best informed circles in
London, that preparations were made to attack
French commerce by sea, soon ms the first intina-
tion that gun had been fired on San Juan de Uloa,
or whenever Mexico had declared war against
France Swirl sailing vessels were rapidly prepar-
..,r tb, he nd RrtSt al
ready to issue at any moment, and TO act under let
tiers of marque from Mexico to Buenos Ayres. The
diplomatic agents of both these governments were
very busy in perlecting these means OF retaliation
and il believed in England, that in the event of
an open rupture the French commerce on the Attain
tic would suffer very severely.
Money Market, 6-c.-The next important point of
interest TO our readers Is the peculiar condition OF
the money, corn and cotton markets in London and
Liverpool We have annexed several important
extracts from the circulars of leading houses, the
Earrings are among the number including also the
views OF our private correspondents From these
and other means of information il viii be seen that
most extraordinary contest has taken place in Lon
don and Liverpool, respecting the value of Ameri-
can products and American securities. First, Of
cotton Humphreys and Biddles, especially, with
few other houses, held large stocks Of cotton-and if
possible, were determined to hold for the present
prices. On the contrary, the Manchester spinners
were very anxious for a reduction OF the prce-and
to these efforts in reducing the price of cotton,
added the influence of all those houses who had dis
posed Of their stocks. OF this latter class were the
Earrings, the Browns, Holford g. Co., and many
others OF less Importance.
In this position stood the cotton markets in Liver
pool at the last dates
In intimate connection with this subject was the
money and corn markets of London, but particularly
American stocks. American securities OF certain
kind had become exceedingly heavy. II is remark
able however, that during the last six months, pro-
badly more American Stale stocks had been nego-
gteHt in II dan han IN thn spn
former year. II is estimated that during the present
year, at least $4,000 600 of American State secu-
rites had been negotiated in London. The latest
negotiation of this kind the loan Of s., 500 900
OF the South Carolina Rail Road, and that of one
half of the Florida loan by the banking house of
Holford & Co. The latter portion amounted to
81 100000 For the other half, the agent, Colonel
Gamble, had proceeded to Amsterdam. but it was
doubled in London whether he could effect negocia
ton, in consequence of the great opposition which
had set in upon American stocks in London, and the
movement which capital had taken in the corn trade.
General McDufie, of South Carolina, was at
Liverpool on the 10th ult., on his way to London,
for the purpose of negotiating loan created by the
city of Charleston rebuild thatportion of the city
which was destroyed by the fire. This loan amount
ed to - 600 900 or over II was also doubted how
ever whether in the present state of feeling preva-
lent in London, it could be effected. We ourself
of opinion that it will be difficult il not impossible
Among the London capitalists strong feeling has
been generated against corporation stocks from the
TENDER August to raise loans on the bonds Of the
new banks in New York, now organizing under the
recent bank law We saw several applications for
such loans coming from New York, but little conf
dence was reposed in them This want Of confidence
arises from various cause.-the influx OF American
securities causing a glut-the peculiar state 81 the
cotton market in Liverpool-and, though last, not
least the position of the corn trade in Mark Lane,
and throughout England. @"....
A great effort is making in London TO throw OBJ
staces in the way Of Mr. Jaudon, and to impede the
operations Of the United States Bank, for the pur-
pose OF compelling Humphreys & Biddle to throw
their cotton into the market in Liverpool and thus
fall in the price OF cotton. The spinners in
Manchester loud in the camor that il is the bill
brokers and money dealers Of London, who, by their
facilities to American parties and on American Sc
curities, enable the American holders of cotton in
Liverpool to keep up the present prices.
In addition to this pressure upon the holders Of
cotton, the corn trade has tendency to withdraw
capital from that direction, and thus aid the Man
chester policy. For the present position OF the Eng
fish corn trade, we refer our readers to our CONNER
cial extracts. This branch of trade Tor the first time
in many years. has started into the highest mpor-
lance to the United States The high prices of grain
in England will undoubtedly draw supplies from
this country Nor is this position transient one,
we are fully persuaded that it is permanenthatthe
population OF Great Britain, under the stimulus of
trade has begun to outrun the means Of production.
II the present rise in the corn trade springs from this
cause and not deficiency in the harvest then it will
open prospect for new commercial treaty and
fresh commercial relations with the United States
We are of opinion, from data personally collected
in England and from frequent interviews with highly
intelligent dealers in Mark Lane, that such is the
true solution of the rise of the prices of corn in
England.
Railroads. d.c.-The extraordinary impulse caused
by railroads and steam navigation, further strength
ems these views of highly important subject. On
| this matter we have numerous valuable facts. A
few days before the sailing of the Royal William,
the railroad from London to Liverpool was opened
throughout the whole distance We oursei travelled
it the second day after opening. We took break
fast in London and had dinner in Liverpool. The
effect Of this. and other lines Of communication will