The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-03-26
From the New York Commercial Advertiser.

From the New York Commercial Advertiser.
The rejection Of the British proposal to srbtrate
on The Oregon question was made known in Eng
land by the arrival Of the Patrick Henry on the ga
and created much disappointment, anxiety, and
wrath. The journals renewed on the occasion their
usual outpourings Of displeasure at Mr.. Folks 'ar-
rogsnce, yiolence," &c.
The arrival of the news that arbitration had been
rejected was too recent for the "sober second
thought" Of the public to reach by this steamer
but It seems to have given great shock to the
stive mind Of the London Exchange The Lon.
don correspondent OF the Boston Atlas says:
"HALL or CoaaERcE, LONDON, Monday evening,
3D. have purposely put of writing I'LL the last
moment, in order to make you fully acquainted
with the extraordinary effect produced to-day in
city circles by the wholly unexpected and highly
important intelligence received IN town this morn
ing, by the New York liner Patrick Henry, which
vessel arrived AT Liverpool yesterday.
AT the Hall Of Commerce and similar large COM
merciai rooms, where merchants, stockholders,
and the city editors usually assemble the American
news was read with utter astonishment, while the
stiffness of death seemed to prevail at first us il war
had actually been declared. There was no loud
talking and conversation---thcrc was no private
hispering, as is generally the tn first re-
eeipt of news, but every sat ookit over the
morning papers in silent amazemebt.
The Official correspondents boz y-rn MIR. Pdken-
ham, MIR. Buchanan, and Mr.. McLane, on the
Oregon question, Communicating the fact that the
American government refuses to arbtrate on that
question, has produced this extraordinary panic
to-day.
"Well informed parties who have spoken at all on
this subject, consider that the state of affairs be-
tween Great Britain aud the United States has never
assumed so warlike an aspect before.
thine has not yet permitted a full expression of
public feeling on this news.
"The Morning Herald has, from the frst advo-
Gated peace, and has done much to calm the public
mind at different tines when Oregon difficulties
have assumed threatening aspect; but to-day this
journal says: 1T is with regret give publicity to
the intelligence this arrival communicates inasmuch
as 1t is of character which completely
former hopes of peaceable settlement of the Ore
gon differences. Mr. Polk and his advisers have
now rushed into extremes, and determined to place
the matter in the most offensive position to Eng
land.' ft
"ln yesterdays money article, in the Morning Post
of to-day, 1t is said that the American question
creates little present uneasiness. 1t may be said to
have been generally dismissed from the minds of
spectators, as an element of disturbance In mon
etary point of view
"This remark shows how totally unprepared COM
mercia classes were for the alarming received
to-day.
ats immediate effect upon the consol market this
afternoon will be seen from the money articles in
"Consols for the account were quoted yesterday at
81; to-day they are down to 95s, which indicates
plainly the extent of the panic; but will quote q
few lines from the evening journals.
"The Sun says The money market is rather un-
settled by the hostile tone of the American accounts
received to-day
"The Globe says: The accounts to the 9th ultimo,
from the United States, received this morning, have
created quite sensation in the city, especially with
the parties connected with the American trade,
who seem Of accord that whatever the result may
be, great present injury must be done to trade
We venture to predict (says the New York Com
mercial, whig,) that by the next arrival we shall
hear Of very considerable reaction. When the
London folks have taken time TO think they will
to the conclusion, thinking people have done
here that arbitration 10 not the only or even the best
means of dealing with the question.