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

There is great deal OF spec uailonabout these dull
days relative TO the prospects of the trade tor the
present wear. some think that II VIII be revived
some that il will fall of--some don't know what to
think. and others want 10 know what to think
BY the last steamer from Liverpoolwe have
received our files OF the Bankers Circular COM
peie, from which we extract very interesting ar
tice on this subject This journal 10 conducted by
OF the abest practical huancers in London, and
has been an observer ot the phenomenon OF trade
throughout the world for hall century His opn-
ions are. therefore, worth something. So here they
are.
From the Bankers Circular Dec. 81, lsil.l
At the commenc OF the present year thus stood
the most prominent circumstances which affect eur mer
cantIle condition We had gathered good harvest Of
of the finest atty and the autumnal seed time had
been an suspicious promising abundant future sup
plies. The Bank Eng land erng from stale
ofweakness, and manifested unequivocal SYMPTOMS of
gradually getting into that firm position which would
enable her render efficient support to the commerce OF
the couary The Bank OF the United States las prepar'
ing pay in specie, and most men in this
country put faith her ability accomplish that under
taking und again become stable Bank The election OF
President the United favorable to the institu
ting ofa National Bank was then amaer Of ascertained
certainty The appointment OF Marshal Souit ana NJ
Guzot TO office promise OF peace stability and eco
nomy for the government OF France The settlement OF
the Eastern question by the triumph OF British power,
seemed TO ensure the OF Europe whe the affairs
OF India owed that the power of England ia that quar-
ter irresistible These prominent commercial and
political circumstances appeared TO lay firm basis for
confidence mercantile enterprises whilst moderately
low level OF prices of fbrous materials seemed to
furnish equally good ground for confidence in manuac
turing operations.
These rational grounds for anticipating favorable
results for British industry in the year 1871 How came
pass that the experience Of that year should prove
to have been OF the most disastrous for com
meEcial prosperity record7 The markets OF North
America, far south the Gulf Of Mexico have been
COED for British manufactures the Chinese market not
very bad those Of continental Europe much improved
and in fair state Of demand These the appropriate
terms describe the state ofthose large ofour
foreign trade And the great proof that the ey does not
lie principally in this quarter is that the value Of the ex
ports British manufactures and produce in the year
ls4l, WILL believe, be found within two three per
cent of the highest value of the exports Of several prece
ceding years Then what that has spread universal
apprehension among all classes, and made every rich
man who deals in meney look at his borrowing neigh.
Dor with feeling Of suspicion and distrut heretofore
unknown in English society 1t the malign working
Of money power, spreading poverty the land
We describe the operation Of his power for the pre-
sent instance in this The situation OF the Bank
to its bullion and deposits according to the average