The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-01-24
HIGH LY IMPORTANT
r R q M e U e q e.
ARRIVAL OF THE
STEAMSHIP HIBERNIA,
AT BOSTON.
TWENTY DAYS LATER
Restoration of Sir Robert Peel to
the Ministry.
Arrival out Of the Presidents Message.
ITS EFFEOT IN EUROPE,
Failure to form a Whig Ministry.
PROBABLE REPEAL OF THE CORN LAWS.
PACIFIC INTELLIGENCE.
TIE MARKETS.
&c. &c. &c.
Failure to form a Wing Ministry.
PROBABLE REPEAL OF THE CORN LAWS
PACIFIC INTELLIGENCE.
TIE MARKETS.
&c. &c. &c.

. &C &C, 9C
The long looked for steamer the Hibernia, has at
last arrived. She sailed from Liverpool on the 4,h
instant and arrived at Boston early yesterday nom
ing.
The intelligence is Of very important character
1t appears to be pacific and favorable to the Uni
ted States.
Lord John Russell utterly failed to form minis
try, and Sir Robert Peel had to return to power
Annexed is list Of the new cabinet:--
Sir Robert Peel First Lord of the Treasury.
Sir ]. X. G. Graham, Secretary OF State for the
Home Department
Lord Lyndhurst, Lord Chancellor.
The Duke of Buccleugh, Lord President of the
Council
The Duke Of Wellington, Commando.
The Earl of Aberdeen, Secretary for Foreign At
fairs.
The Earl Of Haddngton, Lord Privy Seal.
The Earl OF Ripon, President of the Board of
The Right Hon. H. GouIboum, Chancellor Of the
Exchequer.
Lord Granville Somerset, Chancellor Of the Du-
Earl Lincoln, First Commissioner Of Land Re-
venue.
The Right Hon. Sidney Herbert, Secretary at
! War
The following are the new members Of the Ca
EsThe Earl of Dalhousie President Of the Board OF
I Trade.
| The Earl of Peterborough, First Lord of the Ad-
l miralty.
The Earl of ST. Germans, Postmaster General.
! The Right Hon. W. Gladstone, Secretary for the
4 Colonies.
The Presidents message had reached England,
and the effect it produced on the press there was
somewhat remarkable. In Paris 1t had not the ef-
feet anticipated. We make several extracts.
II appears that fear Of the indiscretion of Lord
Palmerston caused thadisrupnon In the wing ranks
There has been slight improvement in cotton
The London money market closed firmly on the
Sd inst. The quotations for consols were 94t to
9is, being heavy. Bank stock is 2O3 to 2O4; and
Exchequer bills are 26s to 2ss premium
The Railway shares are quiet.
Lord Metcalfe has considerably improved since
his return to England, from Canada
The French Chambers opened on the 18th ult.
The Spanish Cortes is also opened
CoMMEKcIAL ArFArRs.-The past year has been
one OF extraordinary vicsstudes, In its CONNER
cia not less than IN It's social and political phases
II opened auspciously. There was plenty of food.
employment was abundant, capital abounded, conf
dence prevailed, and the machinery of society
worked harmonious and beautiful.
The cotton trade, during the year, has experieuc-
ed the mutations TO which we alude-the nstabili-
ty to which all things sublunary subject There
was excellent business dong in the great staple in
the earlier months; the price, If not high or hope
full, was uniform; and the large consumption, with
the encouraging feeling abroad, was guarantee
against further depression in price. AT this period
and tor some time after, the consumption was great
er than at any former time in our commercial hiso-
ry The public prosperity was 30 buoyant that CAPT.
tallsts sought out new fields OF investment and the
railway mania sprung up with fierceness which
has never had parallel, and, II is be hoped will
never again find imitation. The elements gave the
ALARM
They drenched the fields with superyuous mos
ture; and the confidence which existed gave way on
the slightest appearance OF danger. Alarm succeed
ed panic followed-and, beginning with the
stage OF the Share market, It ultimately reached
Engand's Premer-forced on him reluctant resign
alton, and tor time reduced the executive machin-
cry to dead lock- The history of the Price OF food
and the varying appearances Of physical nature,
from the beginlng OF the past to the commencement
OF the present year, Is in tact the history of the
Cotton trade. So true Is 1t, that commerce and
manufactures depend upon the seasons, but with an
ever-changlng climate like ours, however puere, to
defend upon coDgency.
RAILkoAD TO OREGoN.-Preliminary negotia ions
are on foot tor the purpose OF constructing great
central line OF railway TO connect the cities of Hall
fax and Quebec, in British North America with The
view TO ultimate extension in the laps of wears.
TO the mouth OF the Columbia, in the Oregon terri.
DRY, ana the following specific Of bonuses or adj
vantages In addition to the usual general privileges
OF chartered or inc rporated company are inciu-
ded IN the heads Of draft, act charter of incor-
poratlon by the respective Legislatures of Nova
Scotia, New Brunswick, or Canada
lH-A free grant forever OF all the unlocared Crown
Lands in the several Provncsa over which the Railway
shall pass together with pc mission use such timber
shall be required for the Construction Of the work
ad-A preempuve right to the promoters and share.
holders 70 become the purchasers at each station the
line OF blocks OF land Of not less in than 20 600
acres each at minimum price per acre. the purchase
money to be paid in ten yeaIiy instruments Of which
the rt shall become payable at the end Of months
from the opening Of such portions of the railway
a. shall be connected with the stations which the said
ard.-A pledge from the Provincial Governments that
IN the event Of the returns the capital invested
Company during the first five years from the opening of
ne snre line not realizing to the shareholders f5 per
cen, on their money the said Provincial Governments
cy that annual dividend OF f5 per cent during
the period specified may be secured by holding stocs
IN the company.
HE OREGON QUEsTIoN.-The committee OF the
London Peace Society have memorialized Sir X.
Feel In favor OF settling this question by peaceful
rather than by other means, whatever proyocation
,he BRITISH government may receive to adopt war
IKE tone and policy They earnestly deprecate
war between the two nations, and urge the proprie-
~ OF settling the dispute by arbitration.
COMMERCIAL TREATY BETWEEN NAPLES AND THE
UNITED STATEs-A treaty of commerce, il is said.
was signed on December 81 at Naples, with the
United States. The American cotton, il is said, is
MOTTO pay more than ten dncats entrance duty. IN
place oftwenty, that is placed on the same Hoi.
ing as that OF the East Indies or Egypt The wines
OF Naples and Sicily are to be admitted into the
union on paying the same duties as the wines OF
other nations.
The Ministerial and Corn Law Crisis.
- lFrom the Liverpool Times, Jan.
LIE MISrsrRH. Sir Robert PeeI's ministry shat
tered by internal divisions, and broken down-was
gu, OF oihce-at an end-numbered with the past
Lord John determined to accept the post Of first
munster OF the crown. and the responsibility Of gov
ernns the country The cabinet in all its essential
II was based on the immediate and nncond,,;nnssi
repeal OF the corn laws; the leaders could no
among themselves, and all was chaos once mors
II subsequently transpired that Lord Grey had