The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-26

Immediate Liabilities.
Due depqsitors, .sl.s1 s:2,sos
Circulation, so5 ESQ 1880
s7a7In s7O,,ss
Immediate Means.
Due from Bauki, ssss1o ise $40
Rank Notes, 1892. tSsi5
Specie, 2ssH sos 6s7
o., .. 8, $40. $40, 1885 ,ss e
In another column will be found article from the
Bankers Circular the and prospects ofthe CON-
mercial affairs of Engand In connection with those
the United states We do not find in the general position
of any thing warrant the belief of permanent
either in paper credits or trade As FAR as this
country concerned individually there is no prospect,
but that Of continued in paper
ing to place affairs firmly aspece basis This reduction
must necessarily involve corresponding contraction in
England As the precious metals become valuable
here as REGULATING medium, the means OF sustaining
an circulation the part the Bank Of Eng
land will be increased and must prevent any tendency
70 imitation The condition of the dshonored States
here il well arises not from choice, but from
necessity. They unable to pay. The only remedy
is to until the Of the people shall enable them
to pay taxes sufficient to discharge their debts This
can ensue only after the lapse OF Strict economy
and inc reased taxes the only means by which the
Federal Government preserve its own credit and
we apprehend that neither Lord any other
minister can by any proposition their part enable
ton of our view in relation to the English currency
suon atable of the paper currency at four periods
follows
PAPER CvRsrsoy OF Omar BnrrAIS.
England Sep dso ID Ia Oct le Noo 10. Dec
JOINT stock bank, aali,sn asIsssi sia55 sais,sia
Private joint stock scsas4' aaos7Oa sasOss asseo
Pss stock 80 81
a1 TG,s han, @ sss " IS 81
From this appears that the currency Grmer ba.
sis than at any period since Aug. Notwithstanding
which the Bank of England has curtaed its circulation
full e. 900 OOO per cent since Ocsober and the ag
gregate circulation Of the Kingdom reduced $780,
coo in four weeks; and the bullion had increased but
f6O OOO the arrival Of 500 900 from
the United States and elsewhere during the pc
riod.
The failure of the States here, and the discussion of
the question of reputation together with the Of
the Presidents Message, caused great alarm among
stockholders and in the political crces aud not the
least feature the smo,hered feeling the
subject and the singular assumed by all the papers
The following from the Times shows the first effect
upon the stock market of the Presidents Message =:
Consols opened steadily this morning ss 80 for the
the account, and the quotation gradually improved to
the HERALD with The speech Of the American Presi
dent reaction took place. and they receded to the
mer price After more careful perusal Of the docu'
ment ehreatening tone at first attributed to il appear
ing TO be sound than in subsfante, better feel
ing visible, and they finally closed at $50 buyers
The French Journals received chiefly occupied
with the Speech Of the President of the United States at
the opening of Congress. Their comments amount to
this THAT Britain persist in exercising
right of search in the Of American vessels
gagged in the slave trade without provoking with
this Republic This being the view taken the Cont
nent OF the political the United States
and Great Britain, may couple it with the following
speech Of the King Of the French
Since the close Of your last session. the questions
which excited the East just socitude have reach
I'd their term. have concluded with the Emperor OF
Austria the Queen of Great Britain, the King Of Prussia
the Emperor OF Russia convention which consecrstes
the common intention Of the powers to maintain the
peace Europe and consolidate the repose Of the Otto
man empire"
The difficulties pending between the United States and
Great Britain consist mostly OF those relating to the
right Of search, which subject 1t is stated in the
letters Of the English Minister to the Executive of the
United States that there is a understanding
among the powers of Europe The result of such " a
common understanding last year in the case
OF France and the Eastern question The four powers
made treaty without the assent Of France and when
that 20 wer with NJ Thiers at its he ad resented the in
suit, she found all Europe arrayci against her, and
through the tmidity Of the King, obliged to sub
nit The position Of affairs seems to be that the
fears Of the Democratic principle existing in the United
States a bond of unity among the Europern row crs
under which they array emselves against the repub
lie By forcing upon her the right Of search. The ap
pointment Of Lord Ashburton look upon a cloak
TO the real designs Of Great Britain That person re-
ceyed peerage ard for his services to cor.
rupt Ministry, and his connections with this country
now render him the fitting instrument 10 impose upon
the world belief that Great Britain is anxious
10 preserve peace, while We doubt not that his
Instructions really imperative not to yield inch
either of right of search, Of the territory in dispute
By such movement the United States either sub
nit, or endure the of provoking hos,ilities Tn,
whole tone of the English papers points to this. Thu
following paragraph is from the London Standard.
0The right of search question is in which or
nerested and honerapy for the sake, alone of sui
feriug humanty-and America wia not, zoe should hope
disgrace herself 'y es . S.s;rsS mar. th & a
flame which has been for some time manesiing its eN
isencc by petty chickering's should at last be exnguishe
and ali must approve laudablc attempt that nov
about 10 be made for the purpose 1t is universally con
coded tina the choice of ambassador could not hav
fallen upon suitable person than Lord Ashbur
ton"
The following il from that high tory organ the Lor
don Herald -
SO far as the President the federal an,
the better and intelligent classes republic arr
concerned, affirmative answer maybe given; but
fear the nomination will excite hostility among tn.
mobility Of the Union. The great and important. services
Ashburton successfully presided for many years
rendered almost every portion Of the United states
provoked the gratitude but the anmosity and ill-w
of the agrarian democrats Of that strange country The
enormous stake which his lordshp connections have in
the future well doing and honesty of many Of tn
American states and The rery able aud part e
understood former partnsr Of the noble lord TOOK las
year IN the attempt establish the currency If the Union
have produced feelings of irritation amongst the kas
eriRsed and mostivolent sections ofAmerican democra
cy which may act usfayoraby on the success Of Lord
Ashburton's mission"
Thsmodest article assumes that none ofthe Americana
are civilized, and the democracy The leost civil
zed When the partner, (Mr. Bstes,) 10 which thu
paragraph alludes, here last year to attend thu
session order procure the charter ola Na,iona
Bank we stated the fact This, the organ Of the agsn
( in this city of that house, the New York American