The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-03-23

comparison of prices current at the close Of the
market yesterday, with those ruling the close Of thu
previous week. show decline in Long Island of II poi
cent; Harlem, 1t Canton II per cent Fsrnsrs Loan
q; Norwich and Worcester, II Pennsylvania So, u
Vicksburg, Reading, Morris Canal. IL East Bos-
ton J. The sales in stonngton Monday At 40, show
ing advance from the Saturday previous Of II Per
cent time and il not therefore, gssst IN i'm
provement a. appears by the quotations.
The stock market closed yesterday very heavy Prices
have, since the middle Of the week. been ssadily de-.
clinng, and the tendency is still downwards.
The tone of foreign advices both politically and com
mercally is such that different effect than that realised,
could hardly have been expected The railway rssul.
sion in Great Britain has had very unfavorahls effect
upon commercial affairs generally. The money nsrkst
was in very restricted state, and the dscoun Of the
Bank of England had, for time. been very limited.
The railway spsculaons have been carried to suoh an
immense extent in Englsnd that very havs escaped
the mania. and II was very difficult to tell who had be-
come involved in the movement and who had not Con-
fdence had, therefore, to great extent, been lost and
tho operations Of the bank very much reduced. The
effect Of the desperate railway speculaoas must be felt
for . long time, and over great space We are In
measure affected by them in this country, and spreads
all over Europe. 1t il not the withdrawal d fifteen or
thirty millions pounds sterling from the channels Of
trade that has produced this srngsncy In the money
market bat it Is the effect Of the specuaions upon Gre
dit and con6dsncethe fear that all have been more or
less embarrassed by connecting themselves with these
bubbles Of the day this fact and these fears which
have unsettled commercial affairs ia Great Britain and
brought many large houses to bankruptcy and rula
II IL impression that the next news from Lvsrpoo
will be important and interesting, and more unfa-
vorabls than the last The political advicss BY the mart
arrival must b Of highly interesting character Our
accounts by the Hibsrnia stated that the Oregon abi.
had aan -
ed in the London papers Of the I'd inst The London
Ssadayd Of the ID inst made brs but severe NJ
marks relation the Of the corrsspondsnos
the part Of Mr. Buchanan The SisnJsrd the organ Of
the government and has, HERETOFORE been very mild and
liberal Ia IT, views and opinions upon this subject The
change ofts remarks ID indicative ofsn unvo
rabls in the policy Of the Ministry upon this natter
and gives reasonto believe that the In M
lament In relation to this question, win be ola hos
tile than any yet made. The government Of Tie
United States have refused to arbitrae BEFORE but s
the circumstances connected with the latest refusal give
different complexion to the matter than ever before
possessed apd places the two countries In more deli
cate position than they have heretofore been placed
upon this question The last letter Of Mr.. Buchanan1'
In which he unqual6edly refuses to arbitrsts In any
way, shape manner contains many remarks entirely
uncaed ior Unnecessary and Irrelevant, and Of chs
racter likely to produce much bitterness Of feeling
the part Of the press and people Of Great Britain The
bare refusal to arbrats Of ITSELF could not have bssn
unexpected BY the government Of Great Britain; butths
gwen by Mr. Buchanan for refusing to arbrsts
and his remarks that agreement to srbtrsts would
acknowledge the claim Of Great Britain to part Of the
Oregon territory, must have very unfavorabls sdsc
upon the public mind abroad and place obstacles In the
way Of amcable settlement Of this question, greater
than any yet we have had to encounter.
II wss the impression among our leading hnan.
cers when the correspondence referred to was
first published in this country, that hs receipt
in England would renew all the former hostile
feelings, and renew the difficulties which We
had apparently been just relieved from. These anxio
patons have far have received advicss, been n
measure realised and fear the arrival Of the nss
steamer tnow at three days. will conhrm al thsss
formed II at this time impossible to form any ides Of
tho the British Ministry viii pursue In the matsr
but we shall soon learn something Of It through Par
lament The Ministry will bs compelled to make SONS
statement satisfy the opposition Sur Robert Peel may
avoid doing long possible, but the ministry viii
be badgsred until satisfsctory answers have bssn
made to the questions put We are therefore, IN hops
Of receiving some deAnite information in rsson to this
stter that will clear up much Of the mystery and un
certainty that now hangs about II.
~ ths usxt steamer We shall without doubt, rscsive
full accounts Of the effect Of the position taken BY the
President Of the United States relation TO the Oregon
and We disposed to believe that the sdvcss
will have anything but favorable influence upon con-
msrcisl affairs in this country In addition 10 this, we
cannot anticipate any favorable news Of comnsrciai
character. The railway deposits rapidly sccunuls
Ing, the money market tightening and the smbsrrsss-
ments in the mercantile world consequently increasing
The whole amount Of deposits sccount Of these iue
nal improvement works, viii not vary much from thirty
millions ssrling and this amount locked up under ns
present banking system Of Eng land, must produce con-
siderable distress among the commercial cisssss' Ins
lower House OF Parliament IVES actively engages W
granting the charters consented 10 BY the esnnltsssi