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

out orders with such prospect for the trade
was presented two or three weeks ago. w ARE now
thoroughly convinced that we have ourselves under
estimated the probable supply Of corn from this har
vest and than all kinds Of hite corn will fall more
than fifteen per cent from the average quotations Of
the previous six months. Under such circumstance
there can be drain Of gold and silver for the pur
chase Of foreign coin after the present inowng tide
has spent its force. The speculation 10, no doubt
embarrassing TO the bank, as well as being injurious
TO those engaged In IL.
We must briefly refer to some Of the circumstance
which have induced us to raise our estimate OF sup
ply from this years harvest because any thing cal
culated to diss,pate apprehension concerning the
corn trade il Of great Notwithstanding ITS bearing
on the foreign exchanges. We have received letters
this orning from Scotland and the North Of
which that than one half ofthe corn through
| out that part Of the ngdom has been secured In
pretty fair condition that very little injury has
| been dsne by the wet weather that the crops on
| the whole will be equal TO full average supply
one letter from 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 England-all ly ing be-
yond witshire-much lower than the yield, now
that is becoming better ascertained, would Justify
| Those counties will furnish more than averags
quantity and, taking all the three kinds Of white
corn into account, the supply will be IN excess OF
that derived from the harvest OF 1879 by more than
twe per cent in measurement. and the quali-
" incom parably superior to IT, On these grounds,
we say, IL would evnce species OF insanity TO con-
time TO import foreign grain with the existing pros
"A IL true that the xgences of the French govern
me mt will create an additional demand for specie TO
paw for labor employed their fortihostons and ar
mamenis /; and Il Is also obvious that the Bank OF
England could not under present
confidently on the friendly aid Of the Bank OF France
in case Of need These are circumstances that must
in spire caution and impose the nece sty Of restric
lion upon the condu CT OF the Bank 81 England but
our impression is that the difficulty created by add
verse state OF the Exchanges will not be &c long du-
ration After the present month there will be very
little money wanted 70 pay for foreign corn. wool,
hemp tallow, sc. and the drain to supply the purpo-
ses OF governments viii then be the principal case
Of anxiety IL that should continue. There has been
seasonabe supply cf about silver and gold
from Brazil this week.
There is no difference in the Exchanges 10 day,ex-
ccpt that with Hamburger there is fall from 1871 to
1877. This is the only material alteration that has
been marked in the quotations since Tuesday the I'D
of September. Tie feeling an Change regarding this
matter is, however, far from being firm.
TRrAry OF AMIrY AND COMMERCE wTru THE
REPuBLro or TExAs.-(From the Amsterdam Han.
dc'sbiad. I'VE have learned with much satisfac-
tion that treaty has been concluded between this
country and the republic Of Texas, and which was
signed al the Hague the 18th inst, by the respect
tive representatives. his excelency the Baron Yer
stok van soelon and General James Hamilton.
although we forbear 10 communicate the particulars
ofthis agreement the treaty necessarily requires
ratification we have the perfect assurance that the
principle Of true reciprocity has been adopted that
the furtherance Of an untrammellcd liberty Of com
merce has not been lost sight OF, and that further IN
reference to navigation the liberal principle has been
followed which we hope 10 see generally respected,
asd through the maintenance and extension OF which
the government Of the Netherlands will obtain new
right 20 the gratitude Of all enlightened and CONNER
cial people (nations) II the world. We see pew
proof forecast and commercial policy in this treaty
with state which, thrcsgh the enormous extent Of
is territory seuEs Y. speedily ,ne Gre popss
prisins spirit Of its inhabitants, (who are Of the
North Americas or Anglo-saxon racel, is destined