The New York herald., 1846-03-20
The Railway Rsvulsion- Extensive
Commercial Failures.
Depression In the Cotton Market.
FALL IN THE PRICE OF CORN.
T1uuT1UsS IN TRE LONDON MONEY
~MARKET.

The steam ship Hibenia, arrived at Boston at
Q o'clock yesterday morning. She sailed from Liv-
srDool on the lth inst
The news il highly important.
Il - said that dispatches of the greatest import,
ance. have come out in this ship. for the British
Minister and our own government. We shall
probably soon hear something Of their character
There has been q tremendous battle in India. No
isss than tkrs thoxso~d Bri2sh and Nativs troops
Killed, and a reported loss of $1,000 Sikhs.
Cotton had slightly declined.
/ The price Of corn had fallen
American Affairs continued to absorb the public
mind in England and France.
There have been several extensive failures in Lon.
don and Liverpool. In the latter place one house.
Mesns. ssoekdaIs and Sons, the most extensive
soap manufacturers 1t is said, in the world, have
supanded payment. Their liabilities are little short
TO the tishanes Of the money market, and to their
consequent inability TO negotiate their paper.
This great failure has seriously involved several
firms. and has dragged down some smaller houses
The Liverpool Borough Bank suffers to the extent
Of moro than El0O. .ooo and the result has been to
sand he shares OF that establishment almost to par
The American Minister IN London Ii confined to
his hoass BY sickness.
Louis Philippe Is said to be in favor of referring
ths Oregon dispute to the arbitration Of three Eng
1sb and three Amencan gentlemen-thus carrying
out the idea Of Mr.. Winthrop, of ofMassashusetts
The packet ship Patrick Henry had reached Lii
verpoo, but We osn find no intelligence of the pilot
boat VIM. J. Romer.
The weather in England continued unusually
mid, and the effect cannot fail to make itself felt on
the growing crops. Vegetation il extremely for
ward.
Ths great debate on Sir Robert Peels financial
sshsme, which extended over three weeks, and af-
foried food for twelve nights inoessant oratory,
W. brought to Z close ON the morning Of the 18th
nh, BY division which gave the Minister maio-
iy Il aiaety sevea! The eye Of the hawk never
followed it, prey with greater intensity than the pub
hs, out Of doors. have turned to these debates in
Parliament.
Ths agitation which is now proceeding in favor
oi fpse trade i almost exclusively confined to the
walls Of Parliament. The people out Of doors-the
great ram Of thinking, intelligent, stirring ma
doa-rquire no nlip, want no incentive, to wed
themso the cause.
We annex the monster debate, and is all but
moaster msjonty-a majonty too potent for the
lndlords to struggle against. The safety Of the
measure seems 70 be insured; and our readers,
sngsged in comnsrss with England, may rest sat.
is6ed that Pesl's commercial policy will become
he hw q the land. There will be wrangling,
there will be delay, but there will not, cannot bs
defeat So says Wizmers Times.
Ths events Of the last few days before the Hi
hernia sailed, show that the House of Lords will
swallow the pill with wry faces. it may be, like
children taking medicine, but they will gulp it
down, from . conviction Of its neoessity-com.
binsd, probably, with conviction, equally strong,
ihat they will be made to do 50 should they turn
restivs.
Some fearn have been expressed that Lord Stan
ky would lead the proteouonist foriom hope in the
House Of Peers.
The affairs Of Ireland are absorbed in the con-
temptation Of the great free trade drama, which is
now being acted in England.
Inc proceedings in Parliament, AZ sing out Of the
Government scheme for extended trade and COM
merce' have been followed by variety Of political
movements, upon which the attention of the coun-
Try has been anxiously fixed. Amongst the halt
dozen or halt score elections which have had their
or's'n In this cause wo.hsve stood out puy excel