The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-04-20

United States would last come to fair, an honora'
BILE, and safe conclusion on the subject.
We subjoin in this connection the following edl-
torial passage from the Morning Chronicle OF the
preceding day, March l6
"ln one respect we ourselves for the 49th par
allel as a basis ofnegotiation. We would simplify
the question by discardng at once all claims on the
part of America for a single acre TO the north OF
il. We would let by-gones be by-gones, and merely
smile at the claims on the parts beyond the latitude
in question as clever but detected russ-de-guerTe.
Thus much Of a disentanglement America owes TO
the straightforward conduct of England in respect to
the parts south Of the Columbia. Upon these we
have every claim with the exception OF that based
on contiguity Of fronter) which we have for the
most northern parts of the territory. We have, be-
sides this occupation TO considerable extent, al
though Of late Il has not been Of that bona ds char
acter which two Of the A nerlcan settlements eX-
hbt Now, from first To last, we have never al
lowed single statement respecting these claims to
complcate the negotiations. On the contrary, see
ing that something must be retained by America,
we have at once granted that II must be the parts IN
question, and that al time when the relative occu-
patton OF the two nations was in very different
position to what it is at the present moment. e.,
in 1918, 1924 and 1926 The tracts beyond the
Rocky mountains were then as unknown TO the
American settler they were known TO the ser
wants of the Hudson Bay Company.
ITO meet this with equal frankness would be for
the Americans TO narrow the dispute TO the tract be-
tween the 49th parallel and the Columbia, and to
deal with this as the only really debatabe ground.
With such preliminary Il might be equitably APP
portloned, Ope other condition, on the part OF the
United States being also held essential At present
they value for its possible and contingent advan
tages. They must take II as II is. As we believe
in its capabilities, and we admire the enterprise
Of the Americans, we can easily imagine that its
de- IN If The biOhesf lind hnf
we also perceive that up TO the present moment no
American has either traded or settled there and that
the present inhabitants mot lndan) are exclusively
the servants Of the Hudson Bay Company, we de-
muir TO the very principles Of It's valuation.
with the foregoing postulates we see our way to
peaceful issue, compatible with the honor Of both
countries; so that extreme language about conces-
sions impossible is either menace or brayado. The
spirit Of accommodation has been recognised, and
concessions have been offered. England receded
from her previous claim when she offered detach
ed territory TO America; and America efl her high
and untenable ground when she offered the naviga-
ton Of the Columbia to England. Let the same
principle regulate the lending negotiations; it also
being remembered that the English concessions
have been the greatest"
The same paper speaks Of Mr.. Dix's speech as
follows:
"The merits of Mr.. Dx's speech (who occupied
the floor on the 18th and l9th) consisted first in the
dspasslonate manner in which he discussed the rel
alive powers Of the two states for carrying a
war and secondly, in the definite character Of his
notions upon the title of America. He is one Of the
few among his countrymen who seem TO consider
that one good title better than two bad ones; and
that out Of three conflicting and incompatible claims
one only can be true"
Commercial
The new commercial policy of England seems
now TO be regarded as in rapid and sure process of
accomplishment, if not already an accomplished
fact In view Of Sir Robert Pees free-trade scheme
the corn market had become rather more buoyant
than for some weeks previous. Selected qualities
of wheat moved Off steadily at fair prices. Sales
not pressed at any reduction. Cotton seemed to
advance little, having been somewha, depressed
before. We give from the European Times some
details Of the markets.
From the European Times.
The commercial and monetary affairs of this coun-
try in state hardly less satisfactory than at the
sailing Of the packet OF the 4th. The railway sys-
tenn has fastened its claws upon all the ready money
now afoat, and the magnitude of the schemes now
before Parliament with the immense sums Of which
the acknowledgement is still the recipient, together
with the heavy requirements to meet the expenses
Of the lines now in process Of formaton-these
richest country in the world
This is one prime feature of the prevailing embar-
rassment; another may be found in the suspension
Of many important branches of business until the
safety Of the government is past conjecure
and to render the stringency complete, the tcklish
state of our relations with the American government
lmpedes operations, and acts as barrier to the
vival Of confidence.
Failures in commercial circles are, therefore, by
no means rare, and firms find their way into the
government gazette which were held to be safe
the old lady Threadneedle streetas Goblet used
to call the Bank Of England.
Many tradesmen are also being whiewashed
through the facilities Of the law of bankruptcy.
These individual losses, involving, in many in
Stances individual ruin and the utter prostration Of
years of industry and success, may be attributed,
IT, the majority Of cases. to that desperate system Of
gambling in railway stock Of the most moonshine,
starlight description to which we had frequent
sion to revert in the autumn Of last year
painful penalty these unfortunate feeced ones
are now paying for their insane attempts TO amass
riches per ;aium. The proverb which declares that
those who strive to realize fortune in six months
generally pennilsss before the end of the year,
has fond many victims recently to illustrate its
truth.
But the cotton mari et has rallied but little under
the effects of the begerent news from America,
even aided by the now acknowledged fact that the
yield of the last crop will fall considerably short of
previous climates. The last week closed with some
6rmness, and the same feeling has prevailed during
the present week, but prices have undergone little
improvement, although they have an upward ten
dency. Since Friday the sales have amounted to
$4,000 bales.
The cotton trade are, like Michael Cassie, excel
lent arthmeticans clever at showing, not only how
much of the staple is consumed, but what is more
Importance, how much ought to be consumed. But
this expenditure Of ingenuity is very scurvily disre-
garded by the consumers who pay no more atten-
ton to the facts and figures laid before them by their
dsinterested instructors than they do to the nunc-
tons of the Koran.
The English spnners would seem to regard the
continuance of peace between the two countries a
settled point. This quescent feeling is, doubt,
influenced by extraneous circumstances-by the dull
ness which rules supreme in almost every branch Of
business Under more favorable circumstances, the
apprehension of war and the diminished crop would
have told efectually upon the curren, prices of the
day.
The metal market is inactive, and lower prices
have been accepted. Scotch pig 70s to 72s, Cd bar
in Wales 1905; Welsh pig, zoos to HOS; Stafford
shire pig, 90s to 95s Tin is dull, but not cheaper