The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-03-20


This supplemental sheet is sent gratuitousy to the
subscribers of the NeD York Herald in and out Of
the city.
The Foreign News-Success or sir Robert
Peel's New Commercial system-E4sct OF
the Refusal 60 ArbItrate ON the Oregon
Question-The Terrible Battle In India.
&c.
We have twenty-five days later news from Eu-
rope, and the advices, in commercial point OF
view, are highly important and interesting, bat not
of a very favorable character. The only favorable
feature in the news is that in relation the passage
of the new commercial system Of Sir Robert Peel
The amagamation of parties In favor Of the pro-
posed changes, the large majority Of the ministry,
IN the face OF the determined opposition of corn
law leaders, show that the greatest efforts have been
made and no stone left unturncd by either party, to
accomplish its object. During the debate in tho
lower House Of Parliament upon this measure.
which for extent and excitement never has been
equalled, business out Of doors was in great de-
gree suspended, and the most intense anxiety ex-
listed to know the result
The large majority Of the ministry upon this
question, had given them so much confidence, that
resolution had been introduced into the House Of
Commons for an immediate repeal Of the corn-laws,
as first proposed The strongest argument in favor
OF immediate repeal, was, that the price Of corn
much higher now than it might be at the end Of
the three years, and that the agricuurists were N
better position to compete with foreign rivals now
than they might be then. The result OF this new
proposition had not transpired when the steamer
left. The impression was, that the ministry would
adhere to their original proposition, and permit the
cornlaws to continue force, modified, tor tho
full time first named.
The passage Of Peel's new commercial policy
through the House OF Lords, is almost placed be-
yond doubt. il will be bitter pill for the upper
House to swallow, but it will not dare to refuse the
dose. The opposition have cause for congratu-
lation that is worse there is very little doubt
but that the ministry could have carried through
the lower house, by large majority, bill for tho
total and immediate repeal Of the Corn Laws. Tho
monopolists have, through the magnanimity and
lberality Of the Premier, longer breathing time
than the majority of the representatives OF the peo.
pie would have given, had they been called upon to
shorten it. They have three years more to live, 90
cording to the provisions Of the present bill but
within that three years, there mey be changes In
the political complexion Of that country, that will
call for an immediate repeal Of the Corn Laws. We
do not consider the Corn Laws Of Great Britain,
notwithstanding the three years given BY Peers new
BILL az being settled even for day. 1t il evident that
the opposition are not saied with the length of time
given for the existence of the modified restr ctions,
and will not rest until total and speedy repeal 10
contaminated. Should this session Of Parliament
pass over without accomplishing any moro than has
already been realized, the next will exhibit an in
creased majority in the opposition, and an increased
determination to wipe out every vestiec OF the 10
naming monopoly. The people OF Great Britain viii
not be satisfied with halt loaf when it II in their
power to get whole one. Having the representa-
tive strength, their regard for the landed interest
will not prevent them from using it. They have
been oppressed too long by those odious restrictions,
not to make use Of every increase OF strength TO
crush, if necessary, those who have fattened upon
their suerngs, to reach that free trade in bread
stuffs which they have 90 long looked for IN vain.
So far as the government and the peopls Of Great
Britain are concerned, the settlement Of this excl
ting question is matter of the first importance; but
we do not believe that the people of this country are
going to be 30 much benefited by the modihca6on or
the total repeal of the duties upon corn a. many in
England and ON this side of the Atlantic imagine.
There appears to be, however, great difference Of
opinion upon the subject In both countries The ~
duction Of duties upon American provisions and
products of the dairy, is of much more importance
than the notifications in the tariff in relation TO
breadstuffs. A repeal Of the duties upon corn ad-
mtted INTO the ports Of Great Britain, gives us an
uncertainty for certainty. We have an outlet for
our -four through the Canadss, which enables ~ 10
compete successfully, although to limited extent,
with the grain growing countries OF the continent
of Europe. repeal of the corn laws deprives -
Of the privileges we now enjoy of exporting our
grain to Great Britain through her colonies-
We shall refer to this subject at more Length than
our space will at present permit.
The arrival of the packet ship from this port, with
the correspondence Of the Secretary Of State and
the British Minister upon the Oregon question, and
the unqualified refusal of the government Of the
United States to refer that matter to arbitration in
any shape or to any party or power, created eons-
derable excitement in political circles, and much
speculatonin the public mind 10 ito effect IN Par
lament. As the correspondence was received only
two days before the steamer left, there was not suf-
ficent time for any public demonstration In relation
to the matter, and are, therefore, ls completely
in the dark as to the effect Of that movement
Our advces, commercially, are very interesting.
but not very satisfactory. The railway revulsion
has been much greater than contemplated, and its
effect upon commercial affairs had been very sem
ous Several large failures had taken place in Lon