Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1840-10-19

out orders with such prospect for the trade as
was presented two three weeks ago Weare now
thoroughly convinced that we have ourselves under
estimated the probable supply OF corn from tins har
vest and than all kinds Of hite corn will fall
than fifteen per cent. from the average quotations OF
the previous six months. Under such circumstance
there be drain Of gold and silver Tor the pur
chase Of foreign coin after the present inowing tide
has spent its force. The speculation 10, no doubt
embarrassing to the bank as well as being injurious
10 those engaged in Il.
We must briefly refer to some OF the circumstance
which have induced to raise estimate Of sup
ply from this years harvest, because any thing cal
culated to diss.pate apprehension concerning the
corn trade is Of great ats bearing
the foreign exchanges. We have received letters
this orning from Scotland and the North Of England
which say that Than half othe corn through
out that part Of the ngdom has been secured In
pretty fair condition that very little injury has
been dene by the wet weather that the crops on
the whole will be equal 10 full average supply
one letter from a well informed quarter says above
an average. and that prices must consequently be
low. We have also assumed the supply from the
extreme Western counties of Englandall ~ ing be-
yond Wiltshire-much lower than the yield, now
that becoming better ascertained would Justify
Those counties will furnish more than average
quantity and, taking all the three kinds Of white
corn into account, the supply will be in Of
that derived from the harvest OF 1872 by more than
twenty fve per cent. in measurement, and the quail
ty incomparably superior to IT, On these grounds,
we say, il would evince species OF insanity to con-
Time to import foreign grain with the existing pros
poets az the corn trade.
IL is true that the exigencies Of the French govern
ment i'll create an additional demand for specie 10
nav for labor mpoyed their iorthcstlons and ar
mamen's /: and IL is also obvious that the Bank OF
England could not, under present tan IS rely
in case Of need. These are circumstances that must
inspire caution and impose the nece sity Of restrc-
ton upon the condu CT OF the Bank OF England but
opr is that the difficulty created by an adj
verse state Of the Exchanges will not be &c long du-
ration After the present month there will be very
little money wanted 20 pay for foreign corn, wool.
hemp taow, &c and vac dram 70 supply the purpo-
Of anxiety IL that should continue. There has bees
saasonabe supply of about ESQ 600 in silver and gold
from Brazil this week.
There is no difference in the Exchanges 20 day,ex-
ccpt that with Hamburgh there is fall from 10 t.
1877. This is the only material alteration that has
been marked In the quotations since Tuesday the I'D
Of September Tie feeling en- Change regarding this
matter is, however, far from being firm
TREATY or AMlrY AND COMMERCE wIrn rHE
REPuBLrc OF TrxAs-(From the Amsterdam Han.
de'sbIad I'VE have learned with much satisfac-
tion that treaty has been concluded between this
country and the republic o. iexas' ana which was
Al We representatives, his excelency the Baron YER
stolk van soelon and General James Hamilton
although we forbear 10 communicate the particulars
Of this agreement as the treaty necessarily requires
we have the perfect assurance that the
pripcpc Of true reciprocity has been adopted that
the furthersnce Of an untrammeiled liberty Of com
nerce has not been lost sight Of and that iurther in
reference to navigation the liberal princpe has been
followed which we hope to see generally respected,
s.d through the and extension Of which
the government Of the Netherlands will obtain
right 60 the gratitude Of all enlightened and CONNER
cial people tnationsl of the world We see pew
proof offorecast and commercial policy in this treaty
with state which, throsgh the enormous extent of
its territory through lie speedily increasing popua-
prisnx spirit Of its inhabitants, (who are Of the
North American or Anglo-saxon racel, Is destined