The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-06-23


prospects of general trade The value Of the British
funds has improved since the opening of the budget
for the year per cent Consols having touched the
high quotations o. 81 and s's Sss pr cent reduced
been unusually anmsted. Thel shares Of the Great,
Western Railway have ben SO per GENT. and the
London and Birmingham 81 u ~ other depart
menis of the money rArket)he businesshas scn very
lnitedthe attention of capitalists having been very
much directed to the share market and the British
funds.
Much uncertainty continues to prevail as TO the
whole prospects of monetary Affairs, for notwthstand
ing the continued fneness Of the weather, the Corn
do NOT decline in the proportion which would
create the superstition that the supplies will be suf-
cicnt until the coming crops may be taken of the
ground-and foreign corn continues TO arrive. The
exchanges remain unfayorable and the expectation of
silver is still profitable TO Hamburg and Rotterdam
The latest monthly return of the assets and liabilities
Of the Bank Of England exhibit certainly small in
crease of the bullion during the month-but still the
entire amount in the vaults Is only "a against
f23 0OOO 600 of liabilities of all descrptionsa proper
ton which would be very inadequate TO meet any
markable change of the weather and depression Of the
prospects of the crops Tint the ministry do not them
selves believe in the security Of their position is clear
from their announcement on Thursday last, that the
rate of interest Is TO be continued at per cent The
whole money market Is governed, indeed by the
weather. and should the remain favorable, and
the crops be received is probable that the apprehen-
sions OF the surees Of the Bank of England will dis
appear with the return Of the gold which will be
brought back by the restoration Of favorable balance
Of trade which has been prevented by the failure Of
the bounty of the last two years The currency would
then be extended and revival would follow in every
department Of foreign and domestic trade
The market for American securities has been very
much depressed during the last days and especially
during yesterday and the preceding day After the
arrival Of the intelligence by the Stephen Whitney
packet ship Of the depressed state Of affairs in the u
States and that final settlement had taken place in
.ts,
dend on the bonds of this important State. The APP
prchensions this subject has been increased by the
letters which have appeared in tho Times and Morning
Chronicle newspapers, signed the "Gcnesese Travel
err, and Politicians these correspondent Of these
leading London journals being evidently wA informed
and impartial in their views and yet both gong IN
doubts upon the payment Of the interest the Penn
| sylvania banks On the other hand there is nothing
in the of the Legislative proceedings to lead to
such conclusions--thc clear and well connected state
ments of Mr. Jaudon respecting the present situation
of the question in the Legislature Of Pennsylvania hav
ing satisfied many capitalists that II was only accident
ally that the appropriation ohc money for the interest
on the stock had been deferred to the time Of the
sembling Of the House Of Representatives the 18th
Of May-and that il is fully to be expected that ac-
counts Of the termination of all doubts and difficulties
will be received by the next arrival ofthe British Queen
steamship The compliance Of the authorities Of the
city OF Philadelphia with the request OF the Messrs
Rothschild for the payment Of the dividends in cash
has also alleviated degree the fears many of
the holders Of the Bank Of the United States, but still
there is great general oppression weighing on the
whole market for the securities of the United States
The only important transaction during yesterday and
this day has been an inquiry for $4,000 of Pennsyl-
sanastock of which ELS 900 yesterday obtained
at 70 ~ but the part prefcrring to invest the other
half Of the capital in Indiana bonds, because pur
chase Of Eos 900 of that stock g. The shares Of
the Bank Of the United States Els l5al6 or los
lower than the time of the departure Of the British
Queen. In none Of the other securities has business
OF the slightest importance taken pacenor II there
any expectation that operations will revive until ac-
counts be received Of the termination of all fear of loco
oco dominion in the State of Pennsylvania and until
is known of the probability Of the payment Of
dividend by the Bank Of the United States
/ Gen. Hamilton is in London, commissioner
| from Texas, for the bonds Of which country he APP
pears to have prospect of finding contractors in
4 France. t
The cotton market declines at Liverpool, under the
influence of large importaons, and the accounts Of
the prosperity of another very abundant crop in the
United States. Low the prices may be considered,
it is not impossible that lower quotations may be
rived at in consequence Of the gut which may be the
| consequence Of continued accumulation Of stock
through the large crops and diminished consumption
through the dullness of times and the limited market
for manufactured goods. Should the harvest of Eng
land he xncc0ssfsy ~ arrested by the Increased de-
mand and consumption which the revival of times
would undoubtedly create.
/ In London the transactions in cotton have been
confined To the public sale of Friday last when 1871
bales Of Surat went off 334 412 per lb.; 279 Ma
dras bought in at Bid; and 100 New Orleans sold
at55-Sd $3.50 per Id. At such prices for New
Orleans Cotton, there is possibility that the en-
suing crops may be productive Of positive loss to the
planters Of all but the most fertile Of the Western
| States
All the markets have been much deserted to-day in
consequence of this being the day of the = Derby
and Epson races-a few miles from town. This is the
greatest Of the whole year-and the same on the
day of which Mr.. Rush. in his work on England
says that the carriages reach for ten miles in length
The Derby is to-day Of extraordinary interest,
in consequence of the wide changes which have taken
place the position of the various favortesfor this
is the subject Of speculation for months before
hand--not in London only but in every part Of the
Kingdom particularly in Manchester and other i'm
portant places in the North Many millions of money
believed be lost and by the event Of the pre-
sent attraction and the interest Of the is en-
creased by the presence of the Queen and Prince Al
bert-who have gone over rom Claremont. The
Stock Exchange is almost deserted by the members,
and the whole city of London wears appear lance
of thinness of population-resembng Sunday after
noon. AT Tattersals it has been much whispered for
few days past that the winner Of the Derby will be
dark horse, phrase which in this letter is proba-
bly, for the first time imported into the sporting circles
of the United States: this dark horse-being not a
dark colored horse-but horse in darkness and who
will come nodding into light and win the race. AT
the present hour, g P, M no express has arrived
from EPSON, but the result will be known before the
departure of the mail
The King Of Prussia died on the Goth utmo in
the 73d year of his age This prince had lived for
years in state of anxiety and fatigue caused by the
spread of liberal opinions in his dominons- which
in the enlightened condition Of the population of Prus-
sia--he could not oppose without the hazard Of his
popularity Of his power
i is thought that-with the death of King Frcde
rck-dcspotism in Prussia will speedily be brought
closc-respect for the prejudces Of the aged and
well intcntoned monarch having much restrained the
movements which now expected to be incapable OF
being restrained by his ignorant and less CON
and o ta hs rlh 81 How little