The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-08-11
NEW YORK HERALI).


new York, Tuesday, August II, ls4a.
The Foreign Nsvvs-Its Political and Com
mereial Importance
We have six days' later intelligence fsom all
parts of Europe by the arrival of the steamship
Great Western at this port, from Liverpool.
The intelligence il rather important than othAer-
wise, and in commercial point Of view rather Ia
vorabe for the principal interests of this county
The depression in the cotton market was only of
a temporary character, and produced by the in
activity in the manufacturing districts more than
by an excess in the supply of the raw material In
the money market very little change had taktm
place, either in the supply or the deHand. TlAe
political questions in agitation had rather an un Ia
yorable influence upon the stock market, afff ct
ing operations, however, more than quotations..
As soon as these questions were disposed u, it
was anticipated there would be a general i'm
provement in commercial matters Conside fable
interest had been excited by the position the new
cabinet had taken in relation to the sugar duties.
The proposition made by the prime minister had
been pretty well received, and there was every
probability OF the new ministry SUSTAINING itself
upon this question. fit succeeds in so doing, it
will give them strength and create public CONF
dence, which is very much wanted at the present
moment in Great Britain
The accounts from the continent Of Europe, in
relation the harvests, are very unfavorable. as
it appears pretty we'll settled that the crops of
Russia viii turn out almost complete failure.
Should this prove to be the fact it will be fortu
nate thing for the agricultural interests Of this
country. If these accounts are true, ard if the
harvesu of Great Britain turn out to be full
average there will be demand for orir agricul-
| - ~sL
pect There is deficiency in the harvest of
Great Britain every year-that Is, the home sup
DIV is never equal to the home demand for con-
sumption, and an annual importation is made
from the grain-growing countries of the Cont
nent, particularly from Russia. This supply be-
ing in all probability cut off by the deficient har-
vest in that country, attention must be turned to
this country. We shall not only be required to
supply the deficiency in Great Britain, but if the
accounts from the North Of Europe are not ex-
aggerated, there is every probability of supply
being required from US to feed the people Of those
countries.
The changes in the corn laws Of Great Britain
may be an immediate benefit to the people Of
that country, and prove at once more advantage
Gus to US than we anticipated. 1t is only under
circumstances similar to those given above that
the modification of these laws will be Of any par
ticular service to our agricultural interests.
Whenever there 10 general deficiency in tho
harvests of Europe, we have the monopoly Of
the supply
The harvests of this country never were more
abundant than they have been this year We have
breadstuffs sufficient to feed the nations of Eu-
rope. This is in fact the granary of the world;
and if there was demand corresponding with
our ability to produce, we could supply NE world
with the staff Of life. A very moderate foreign
demand for our breadstuffs will have very ia
vorable effect upon prices. An outlet for u very
small per cent of the surplus product, has a very
wonderful effect upon the price Of that remain
ing, and an unexpected external demand to any
extent invariably initiates prices, and produces
speculation. 1t is to be hoped that the scenes of
last fall will not be acted over again. The ruin
which followed the speculations ofthat period has
not yet been forgotten, and We trust that it will
exert great influences in preventing similar ope-
rations this year.
| The New YORK PosT OFFICE AaAN.-We are
compelled in self defence to advert to the misma-
nagement of the Post Office in this city again.
We shall soon give it up, however, as bad job. On
Sunday last we received letter from our cores
pendent in New Orleans, dated on the same day
when the Ne,0 Orleans Pioayuse mailed an Extra
to us, and we did not receive the extra till about
eight o'clock the next day, Monday. Both arrived
by the same mail, but for some cause or other, the
paper was suffered to remain some eighteen or
twenty hours in the Post Office, before it was de-
livered to u.s. We are getting out of patience
with the whole affair, and sincerely wish that the
ides Of November were come, 50 that we might
plant Morris in the gubernatoralc hair, and thusge
rid of him. But if he were pat in that high office,
it would be ten chances to one that he would not
stay put but would hunt up some other Office
for which he would get near four dollars per
dav "a possible. We are about done with the
Post Office, however; we can't expect any thing
from Cave Johnson. We believe he is loca-
ted in the Mammoth Cave in Kentucky, away in
the darkest corner, dark that it is impossible for
him to read the newspapers.
The Hon. LOUIS McLANE.-We learn by a
gentleman who arrived yesterday in the Great
Western, that Mr.. McLane, our Minister at the
Court of st. James, will positively return home
in the packet of the l9h inst. During Mr.. Nc
Lanes residence in England, he has on all occa-
sions supported the dignity Of his country, and
demeaned himself as becomes the representative
of a great and powerful nation. He has acquired
host of friends, and made himself very popular
by his successful exertions to settle the Oregon
question and preserve the peace of the world.
The friends Of peace, and the merchant princes
Of Liverpool, gave a sumptuous entertainment in
token of their estimation of him. and we think it
would not be bad idea, for our merchants and
people in this city, to give him like compliment
here when he returns.
STEAMSHIP GREAT WKsrERN.-We think the
! Bostonians had better give up the contest, and
adrst at once, honestly, that this steamship is
superior to any of the Cunard line; and, also that
! New York is better terminus for steamship
! line than Boston. The Western took 1873 passen-