The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-05-20

the close of the week previous Prices through the week
uctused srikngly, and in many Instances experienced
advance was lost before the close Ohio SIS are
very firm There has nearly five months interest accu-
muated this stock, and yet it is quoted below par
Canton shows falling off of 81 per cent since Thursday
dividend this stock ia promised in June, but 1t Is
yet very uncertain whether it will be realized.
We received last night by private overland express
from Boston, avices per Britannia from Liverpool to the
5th inst In commercial point of view the European
intelligence by this arrival is of the greatest importance
The money markets Of Europe remain in very easy,
comfortable state The rate If interest continues very
much reduced. The dssentions the three and half
per reductions up to the 4th ns only amounted to
7ll5 The budget presented by the Chancellor ofhe
Exchequer appeared to be very satisfactory. The quar-
tery averages of the Bank of England show steady in
crease in all the leading features
BANK ENGLAND.
Circulation. sss, 2ss7 600 lSsSSs
SseSTi,s.. sSsss:SS ssisssSS 2sSesSs $4,000
Bullion, l2,275ooO IA $4,000 100000 1,O22 600
There has heen increase in all departments except
securities We by the London papers that large
Of English capital have lately been invested in
French three per cents account of the low price at
which they quoted. This may eventually raise the
value of money slightly in London The aspect of COM
mercal affairs generally throughout Europe very favor
able and furnishes evidence of the prosperity Of all classes
The mort interesting item notice in dispatches is
the excitement created in Parliament and throughout
Great Britain by the late treaty formed between the Uni
ted States and Prussia acting for the German confedera
ton. A debate arose in the British House of Commons
regarding this subject when Sir Robert Peel stated that
he would postpone auson to the question until he
informed Of movement the treaty in the Senate of
the United States The excitement produced in England
by this treaty will lead to proposal from
the British Government, to this for the formation of
similar treaty between the two countries The Zol We
rein treaty will urge forward all the European govern
ments to the result The most formidable manu-
featuring competitor Great Britain has in the world is
Germany and the probability Of the manufactures of that
nation being admitted into the United States more
favorable footing than those of the former has created
feeling the British Parliament that must eventually lead
complete revolution in all existing treaties and per
feet commercial systems in accordance with mutual
reciprocity and national interests Great Britain has
heretofore carried with all nations of tariffs She
now finds that all those nations which she has inflicted
reaatng duties have combined for their mutual benefit
and to become Independent of Englands monopoly The
British ministry have closely watched this growing
jealousy the part Of the nations Of Europe and have
adopted tending to place their country in posi-
ton bear favorable commercial treaties than here
tore The property tax Of Great Britain was undoubt
eddy instituted for the purpose of so as
years test its efficacy 1t has, far metthe most SAN
guine expectations and all doubt to ts permanency
and advantages have been removed The ministry have
already named the items which existing restrictions
are 10 be removed The duty glass; currants coffee,
and wool is to be reduced The property tax was i'm
posed supply the deficiency in the revenue and to re-
eve the trading and commercial Interests by reduction
in the customs This the first step towards reciprocity
For six successive years prior to the adoption Of this
Of Great Britain fell short of the expendi
lures The deficiencies supplied by addition TO
the debt of the country. With this annual deficiency
staring them in the face how it possible for the
government to reduce the from customs by per-
fecting treaties Of reciprocity with every nation7 With
every disposition, they were without the power. The
property tax has worked so favoraby and the revenue
increased rapidly and the large surplus in the treasury
has given the ministry much confidence in their
sources that further and more important reduction will
| undoubtedly soon be made in the tariff.
|