The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-12-20
NEW YORK, SATURDAY MORNING, DECEMBER co. ls45


ration OF war very difficult we should say that every
thing depends on the message which President Polk
10 this day 10 deliver Congress. In the event OF
that magistrate maintaining s assertion of last year
there Will only remain the last argument OF kings and
people tor oil what avail would be negot there
after. The question would no longer be az to the d.
vision of terrtorytor Mr.. Polk will have Oregon en-
tire England has atterly proposed TO leave arbl-
traton, bur thus the President will not consent to-
What other arguments can therefore be brought for
ward but those which issue from the lannon's MOUTH
Electoral necessities can therefore alone explain the
conduct OF Mr. Polk, who had the reputation OF being
a calm and reserved man He lsa native of Tennessee
one OF the Western States OF the Union. IL IS on
the West that he POUNDS the hope OF his re-electon
and the West demands the entire OF the Oregon
territory. Ii Is therefore with much reason that
some OF the American journals tell their country
men that the Oregon question: which, 10 De under.
Stood requires an attentive study OF old treaties ana
diplomatic documents, IL Is solved at In every
village OF the West by political demagogues, who
have read nothing, and who only know one thing-
that they 10 please the multitude and obtain
their su.frages, by telling them that God has gwen
them the new continent from extremity to the
other, for their exclusive use. However this may
be, there to fear that the message OF
this day will be in accordance with the feelings OF
the democracy OF the Western States. Private let
tiers from America, which came down To the loth
November, hold out little to the contrary. The an
nexation OF Texas caused the first election OF MI.
Polk, and 10 secure his second, he wishes TO OBTAIN
posse sslon of Oregon The calculation will be ex-
Philadelphia and at Washington, is that the Presl-
dent will do il. A war between America and Eng.
land will be calamity for the cvlllsed world, and
by degrees every maritime nation may be drawn IN
take part IN the conflict IN consequences OF the
vexatious interruptions which neara IS viii not tau
to meet with In the desperate struggle which VIII
desoate the surface of the But for Engla
and for America it will be such an overturning OF
in erests that we cannot but think that whatever
the language OF The President, IN his message, may
be, the cause OF peace Will not on that account be
| irretrlevaby lost. Ii war should break out, New
York New Orleans and Boston would BE- closely
blockaded, and their merchants ruined bat at the
same time what injury would be lnhlcted on British
commerce. which covers every sea. by Alerlcan
cruisers. WHAT would become OF Manchester, II a
supply OF Indian cotton failed II and how would
the south western States of the Union, whose prn-
cipal produce cotton, be supported without mat
marketl What shock would It even be Tor the
constitution OF the Union Itself! We must, there
FORE still hope, that there Will DE found In America
courageous orators, who from the tribune OF the
Congress, which is about to open, Will make heard
the accents OF truth TO the American people, and
net on its side will understand that the Immense
1 Interests of British manufactures demand that ST.
ence shall be imposed on the susceptbnes OF ma
| ional honor and that even should President POLK
| be so bind as to pronounce the lmpruden words
that are talked OF, il is be hoped that peace will
continue to spread over Great Britain and the Ua-
ted States the benefits with which 1t has loaded
those two great nations, to the great advantage OF
i
The Latest Commercial News
From the Liverpool European Times, Dec. Al
The money market exhibits good deal OF depres-
sion, but 1t Is better than It was few days ago
better than at the sailing OF the last packet Conf
dence Ia SLOWLY but gradually reviving. Consos for
money left off at 949 9is and for the account 95t
to 954 Bank stock 2D2 to 2O3t The English mint
price OF gold is f3 Us 1871. Some uncertainty ex-
lists to whether the Bank OF England will still fur
Their advance the OF interest, or rest content
with the check which has been gwen to illegtm lite
speculation. The uncertainty Is not, OF course, very
| favorable 10 the revival OF business.
/ The recent accounts OF the cotton crops in Ame-
rica being equal, II not superior, TO those OF last
year, combined with the absence OF money and the
gloomy prospects in the matter OF the people food
have kept down the market and reduced prices
Even the fears respecting rupture with America
nave not been able to buoy up holders, who pres
sing on the market, and contributing to the sagna
tlon. The price of "fair" American Is now within
fraction of the lowest figure at which 1t has ever
| stood-the most striking proof which can be IN
ssnced OF the severity OF the existing depression
The Sugar market, owing TO the large denaad for
retned In the early part OF last week. was toleraby
active, but the demand has subsidized 10 some extent
| since. Brown Jamaica and ST. Vincent, of good
quality, command from AS sd TO 5)s. The stock OF
West India IS getting low, and the deliveries are
large The inquiry for foreign sugar has been limit
ed OF Havana there is little offering, and the prices
are almost nominal For Bengal there has been
some inquiry Standard Jumps OF refined quality
bring 67s crushed Jumps OBS to Gas. The Coffee
market Is dull, and the same may be SAID OF Cocoa
In Rice there IS considerable activity.
The railway panic has not subsidized. On the con-
trary IL is in tuIl force. investments OF this tescrp
ton are prostrate-the collapse continues. The
Gazette has recently published notices from
several hundreds of the new lines which propose
TO apply TO Parliament during the ensuing session
for their acts. The period tor giving notices ex-
pred Sunday last, the end Of November, and
to afford time for the deposit OF the necessary do
cuments, specifications and compllances with the
standing orders of the House OF Commons, the
! Board OF Trade remained open all day on Sunday
and only closed at midnight More than 700 OF the
new projects have deposited their plans; but large
number have failed, nevertheless, TO comply literally
with the standing orders, In which case they cannot
go before Parliament next session The object, IN
many instances has been TO throw dust In the eyes oil
the proprietors by protesting to have made an efor
TO comply with the legislative requlrement-in short,
keeping the ''word OF promise TO the ear, but break
ing II to the hopes" OF their proprietors. The
swindle, in such cases, is clever, but alas too
transparent The feeling OF dependency which
prevails in the principal stock markets of England
relative to roads, exists In the Paris and other
continental markets with hardly less force. The
brokers have suffered severely during the late gamb
ling mania, and scores OF them are being used up
in all directions. Even in France some of these
personages are flying to England, In order to gel
| out OF the way.
The extent of the isjury which the potato .cror
has sustained, forms, usual, unalling subject
| OF enquiry and anxiety. The accounts are, upon
the whole, of sad and melancholy character; and
the extent OF the damage IS TO be seen IN the con-
fiicting accounts OF remedy given by men OF
nigh scientific attainments. In some districts from
oue-third TO one-hat OF the crop is damaged; and
so rapid is the progress OF the disease, that another
thlrd. it is expected will be destroyed IN the pits
before the spring OF next year. One learned The
ban recommends that the potatoes be sliced, put
INTO jars like preserves, and covered with fat =
Fine comfort this, truly tor the inmates OF an rsh
hovel, who have neither Jars nor tat nor even fre.
Another suggests the substitution OF peas by the
poor, forgetful that the price of pulse, like every
other description OF human food, has risen enor-
mousy OF late. Seeing that potatoes enter SO
| largely into the food Of the laboriag classes in
England, and that they constitute the chief, almost
the only article of susenance OF the poor In Ireland,
ii is painful, It is narrowing, to contemplate the
amount of physical suffering which the present ca
amity will produce. In the endeavor TO discover
some remedy as substitute, Indian corn, SO much
used in the United States, has been strongly recon-
mended Strange as il may appear, this produce is