The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1839-11-06

Sumfner ana the crops OF gram tnusi DC
taken as certainly not better than those OF the preced
ing year. but they. In all probability ineIining 10
| The favorable views which have been endeavored TO
be- propagaed on The stock exchange; for whilst, In
1888, the autumn became al length warm and favor
able and every description OF grain secured,
though found TO b. afterwards deficient in the yield
on the other hand, there are reports from numerous
districts, particularly those tending 10 mountainous
that large quantities Of grain are even now little
more than green and from other better situated
countess il Is reported that large quantity Of The
wheat and barley will be sproued and unsound, and
useless for grinding unless with large proportion
i Of superior foreign grain The accounts from Ire
lan,l are unfortunately more uniavorable than from
any part Of the three Kingdoms; for IN that country
| the weather. even throughout October, has been
rainy and cold and according TO our principal Duo-
lin Journal, received In London yesterday the mar.
vest OF Ireland will be deficient at least one hall and
instead of the usual annual expectation 10 England
| OF 100000 quarters OF wheat and 2oO,OOO quarters
Of oats not another bushel OF either OF these grains
can b. exported from Ireland for the next twelve
| months"
This, ireven approaching 10 a correct opinion on
the result of the harvest OF Ireland Is very painful
account Of the prospects Of that unfortunate country
and indirectly must influence largely the market Of
| England for the next twelve months. Throughout
the Baltic nations, the harvest has not been more
than the usual average, even from the most iayora-
| Bile represeniations.--and In the important wheat
country on the Black Sea, a drought has prevailed
throughout The summer and autumn, and the crops,
according TO the latest letters from Odessa have been
so deficient that scarcely any expectation OF wheatis
expected to be supplied from that usually very active
port. The stock Of old English grain OF every de-
scription Is consumed, almost TO entire exhaustion
and the stock OF bonded corn, according to The last
| returns, moi equal TO the consumption OF the
kingdom for even single day, as estimated for the
support OF man and beast--for The whole quantity In
bond 10 September was, Wheat, 36O ,63S quarters
Barley 1913 oats, 81, 764; Rye, 7Ss Beans, 70 659;
Peas, 2S,426; Flour, 85, $50 cwt From all this II
may not be unreasonably concluded that the harvest
Is equally deficient than that of 1888; that
the exhaustion of England Is considerably more com
pete than at the same time last year; that there Is
not one-third part of the stock Of foreign corn IN
bond that the harves,s of Europe generally will
yield less than in 1888 and therefore, that it is al
most certain that the same, or much more calami-
tous state OF all our affairs must be anticipated Tor
The whole OF the ensuing year.
The duty on foreign wheat is los. 3D. per quarter,
and on -four 6s Sd per barrel Of 1856 lbs these duties
being maintained principally in consequence OF the
low rates at which the inferior wheat is sold
The low intrinsic value of much OF the wheat Is
the only possible circumstance to prevent the early
opening Of the ports and even with that
consideration there is very little doubt that the trade
will be free in the course OF few weeks but tho
the duty should not be lower than at the present time,
yet Is Sd per barrel Is not material consideration,
and need not impede lis expectation from the United
States--the reason being that the quality oil Ameri-
can -four will be very fine, and all thai may come 10
England in superior condition /, certain to be sold at
high prices; because from the inieriory OF the
English wheat better qualities are expected 10 be IN
the most demand.
The market for American securities may be sup
posed TO have not been exempted from the depression
which continues in every department of monetary
affairs The difficulties of the Bank OF the United
States-if difficulties the malicious inlrigues and
ISLANDERS against the establishment could properly be
called. have all been finally overcome BY the very
Skfu arrangements OF Mr.. Jaudon. This gentle
man has raised loan of fS00 900 for one and two
years, at the rate of 81, and the interest per cent
The contractors for this loan are principally the
banking houses OF Jones, Lloyd &C., Smith, Paine
and Smith, and Denison, Hayward Go, and The
great Lombard street bill house Of Quincy, Over
end &Co, The debentures have already been sold
at and II premium, and even amidst all the in
creased pressure for money this morning, they have
been sold al premium OF l-2 per cent. That The
Interest for this money Is large must be considered
as unimportant, when the immense difficulties OF the
money market are taken into view, and when the
money is certain of possession Tor the long period
OF one and two years-and raised for that extended
time at moment when an interest OF J per cent
can be obtained for very short periods upon the de-
post Of the best securities OF the English GO
vernment--as Cunsols or Exchequer Bills This
operation is altogether most important and foriu-
nate for the general American interests in this
part of the world-and indeed throughout the United
States-for il both raises the confidence OF English
capitalists who perceive that the most sagacous and
powerful bankers Of London are satisfied with the
securities of Mr. Jaudon and at the same time This
ample provision for the engagements Of the Bank in
Europe, will diminish undoubtedly the pressure in
the money markets Of Philadelphia and New York,
by rendering it no longer indispensable for the Bank
OF the Unied States TO force forward extraordinary
resources to the assistance OF Mr.. Jaudor.
The shares Of the Bank Of The United States is
now TO be sold TO any amount at go and the deben-
lures this afternoon have been 94a 95. In other
securities there have been transactions but at very
reduced and indeed almost ruinous rates
+ MIR. McLane returns home tomorrow with the
| Great Western steam ship. ..
= Correspondence Of Ic Courier and Enquirer.
PARis, 10Th Oct, 1889
The conclusion of my last letter informed YOU
that Mr.. Jaudon had arrived here, in consequence
OF the refusal Of Messrs. Holingeur &Co. 10 accept
the drafts Of the Bank OF the United States that
| Count d'Argout, Governor Of the Bank Of France,
and other influential parties, had had several inter-
views with Messrs. de Rothschilds on the subject,
and that finally the last mentioned capitalists having
agreed TO pay those drafts, Mr. Jaudon was 10 leave
town that evening (l6lh Sept.) on his return to Lon
don ...
The French and British fleets, [about ten sail of
the line each are still at the mouth of the Darda
neles The Turkish and most part of the Egyptian
fleets are in The harbor of Alexandria. AT the date
of the latest accounts from thence, [2Th ult the
crews Of the Turkish feet were beginning to muir
mur at being SO long detained from their families
The appearance Of French and British naval force
off Alexandria might possibly induce something
| stronger than complains, but although every body
says that the combined fleet must have some object
it is not certain that to attack Mehemet Ali is the
motive of their presence at Beshika Bay. The si-
tuaon Of affairs sets speculation at defiance. and in
tact j would appear that The corps diploma'ique
themselves are "a' sea" upon it.
S O'clock P. M. 10th October
Affairs have been languid at the Bourse to-day
Spanish stocks is heavy, owing 10 an impression
that Cabrera will give yet much trouble 10 the
Queen's Generals Espartero is proceeding against
him, and is waited with apparent resolution.
The position of Cabrera in the neighborhood Of
Canlaveja is rendered so strong that with less
i powerful force than he commands it could be held
for long time against numerous arms II is also
feared that there will be much Of discussion in the
CuTes. ..
The accounts from the Depart to-day are not
/ fbnsa al rim th. Tha