The Mississippi Creole. [volume] (Canton, Miss.) 1841-1851, 1846-05-09
Arrival of the Caledonia.
FIFTEEN DAYS LATER FROM EuRc

FIFTEEN DAYS LATER FROM EUROPE.
The commercial accounts are gloomy, ac-
eording to Wilmer & Smiths Times. Every
branch oftrade is depressed, save the iron trade.
This depression is attributed to the suspense in
regard to the important measures before parlia-
ment, the pressure in The money market and the
uncertain relations with England and the U.
States.
The Oregon question if we may Judge from
the papers before us, has ceased to occupy the
leading place in the public mind. The India
victories and the discussions in parliament are
more prominent themes Of remark. From VIII
mer and Smiths "Commercial' we make some
extiacts. After picturing the deplorable state,
of trade in various branches, the writer comes
to cotton.
"The cotton market more especially, is la
boring under the effects oftho general depres-
sion. The estimates Of the new crop are now
reduced to two millions of bales; and yet,i in the
face Of this falling off in the staple, the price
continues SO low that the rates which rule in
this market involve a loss Of not less than 90
shillings per bale on a comparison Of the prices
which prevail in America. The statistics Of the
trade show a gradual decline on the sales since,
the measures Of the government were announc
ed and the trade will certainly not recover its
tone until all doubt has disappeared. Capital
like the sensitive plant, shrinks from .contact
while uncertainty is abroad; and the holders
as well as the importers Of cotton are destined,
like other branches Of the commercial world,
to feel and to deplore the curse of selfish OBJ
struction. The sales yesterday amounted to
upwards Of 5000 bags to the trade, There has
been some export inquiry; but the market
closed tamely. The sales of the week amount
to 10000 bags.
Sir Robert Peel,s great measure of CONNER
cial policy has gone through another stage Of
its progress. The second reading has been
carried in the Commons by SO majority-9 less
than the majority on the first division. There
was complaint among commercial men that the
progress Of his measure was SO slow. II was
feared that il would not reach the house of
Lords before Parliament adjourned for the Eas-
ter holidays. Sir Robert Peel's speech in clos
ing the debate upon the second reading, is spo-
ken of as another ofhis most able efforts.
The accounts Of the two great battles in In.
dia, by which the Sikhs have been utterly bro
ken and the war terminated, will be read by
Americans with a melancholy interest. The
first was fought under the command of Sir H.
Smith, and the second of Sir Hugh Cough, on
the part Of the English.
The whole English press appears elated to
an extraordinary degree by the issue Of events
in India. On the evening Of the 2dinst.. votes
Of thanks were moved in each House Of Par.
lament, to the Indian Army Sir Robert Peere
speech was particularly eloquent, and that 81
the Duke Of Wellington, though more brief
wac clear and precise, and exceedingly oulogis-
tic. Both Sir Henry Harding and Sir Hugh
Cough are to be raised to the Peerage.
The American Minis er Mr.. McLane, still
continued indisposed. From This cause he was
prevented from attending the Queens Drawing
Room on the 10th ult; but Mrs. McBane, the
lady Of his Excelleucy, was present, and also
the Secretary Of Legation, Mr.. GapaevOurt Mel
vile.
The greatest ACTIVITY continues in all the
d~ockyards III England, and the recruiting for
the army is still going on with great spirit;
5000 soldiers were ordered to India, 5000 Of
which were 10 proceed BY the overland mail
route ltisnoY stated that that order will be