The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-10-02
From The Courier and Enquirer, Sept. d.
ARRIVAL OF THE GREAT WESTERN

| ARRIVAL. OF THE GREAT WESTERN.
! With her accustomed and extraordinary punctuali
ty, the Great Western steam ship arrived in our
waters yesterday afternoon We have received by
her London and Liverpool papers to the 18th inst,
and Bristol TO the 18th, the day of her departure,
Our private correspondence from London and Paris is
to the latest moment and to these therefore chiefly
refer readers
1t must be admitted that the political position of Eu
rope is at present highly critical yet believe the
probability is still strong that the peace of the world
will not eventually be shaken.
To be sure, there IL always the chapter of accidents
the most omnous in which, it strikes us, the
insurectionary movements in Paris His army, in
such cases, the only reliance of Louis Philippe,
and if this fail him--of which there is however at
present probablity-then indeed, there would be
an end TO the peace of Europe We have no idea to
gain momentary respite from popular tumut he
would involve himself in continental war.
| The accounts of the English expedition against
China are interesting, and would seem to lead to the
conclusion, that the Chinese entirely unprepared
to meet if indeed they have any conception of the at
tack which awaits them.
| Commercial matters, might be expected in this
troubled state of things do not sorry to say,
wear a favorable appearance
| Correspondence of the Courier 4 Enquirer
LONDON Sept. 18th, 1910.
| The Great Western steam ship again departs to-
morrow for New York-the machinery reported to be
still " magnificent perfection" and the whole charac-
! ter of the vessel commanding that premiums are
demanded by advertisement for the transfer OF the
right of passage by those who have been fortunate
enough TO engage Them even for the first OF October
next"
| On this occasion the Great Western will take out
important political intelligence to the United States.
There are Instructions or rumored instructions, In
| Paris, Milan, Lisbon and Madrid the Eastern ques-
ton tending also to the probabilities of hostilities,
and Europe generally resounding with rumors of war.
During the week which has PASSED since the depar-
tue Of the Britannia there has been constant state of
| agitation on the London Stock Exchange Daily more
gloomy came the accounts from the continent of Eu-
rope and amidst the dstrus arising from the difficulty
of the foreign affairs of the country every description
of security has gone down at an almost headong
rate
! This depression in the money market has taken
place notwithstanding the favorable weather which,
with slight exceptions has prev allied during the week,
and notwithstanding the favorable accounts from the
agricultural counties and from Scotland and Ireland
where the harvest Is going forward satisfactorily and
the produce of the kingdom believed to be rather
than the average years. but no favorable intelligence
of any description withdraw the attention of CAPT
tasts from the position of the Bank of England, which
at this time is not provided with one half the due pro
portion of bullion, the continental exchanges continu
ing still unfavorabe, that expectation of silver
upwards of 800 900 ounces in the week ending on Sa
turday last from the port of London alone and this
when we are entering upon another year OF probably
very high prices for grain, and with every probability
of n large importation Of foreign Though the
warlIke rumors from various countries aggravate
doubleday, the dlsempered condition of the money
market il is probable that much greater cause is in
operation by the measures of the Directors of the
Bank OF England for contracting the currency, by
contracting the credit of the London merchants and
the provincial Joint stock banks and that the value of
money will continue still further to increasc-prices
still further TO fall and tend to become still stag
nant-uncss in the event of continental exchanges
becoming favorable and the bullion in the vaults
of the Bank of England be consequently more secure
or unless the Government allow of suspension of
cash payments-ncither of which events are probable
at this tmcthe prospects of the trade being
favorable to the probability of better condition of the
foreign exchanges and the government being too 10
Of the question of the currency nterpose so
easy n remedy for the distress of their country-unt
the distress become infinitely more alarming than at
the present time.
The harvest though very far from being secured in
the average of the Kingdom, may be reasonably esti-
mated fully equal to the produce of the average oyears
but extreme is the deficiency and exhaustion of
every description of old grain, that the markets
do not decline mat eriay, indeed in any degree
whatsoever excepting for the damp and inferior new
samples of wheat
Amidst the difficulties Of the money market trade
must be supposed to be extremely dull. The raising
rates of discount influence unavorably the manufac
turing districts and in Manchester one large failure
has occurred of house of agency in the cotton trade
that of Mr.. Henry Forth-whose liabilities, though
very much exaggerated are largc-and this failure
has caused considerable increase Of apprehension for
many other similar establishments in that part of the