The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-06-06
LIVERPOOL, Nav IL, 1917.
A AMERICAN CorroN THIS DATE.

The general trade of this country has been during the
past fortnight, in state OF and III
arrangement The financial difficulties reported by the
last steamer increased after her departure daily and
with alarming violence. until they reached crisis with
out IN msny Of its features any parallel in the
cal couyulsons in this
the 1920 The Bank of England having almost lit
orally suspended discounts, her example followed
from choice necessity. by the majority Of London
money dealers and in the reaction, this and the neigh
boring manufacturing districts placed in great diff
Guilty. no facilities being atainabe the most
exceptionabe security except those absolutely
ry to prevent failure. Simultaneously with this
tary distress the reports Of considerable deficiency
the food hand expected necessary the sup
ply OF the country till harvest all at seemed OBJ
tain universal credsnce prices of grain advanced rapid
ly Chose Of wheat reaching point unknown for.
believe 30 years. and general panic existed. The
tr-my Of the pressure ud not last more than two
three days the of the directors the Bank
England having 80 improved their position
BILE them to relax the slightly and during the past
week there has been comparative easesuch ease, how
at any other time would be considered nolera
BILE pressure Whether shall have progressive i'm
proV-ment a return of difficulty In the course oil
few weeks will probably mainly depend the prospect,
OF The harvest here and the Continent present
this point there Is every to be satisfied The
sound basis upon which business has been lately
Quoted strongly evidenced in the fact that the cris
has so far passed without the occurrence of single fail
ure Of Importance here or in London.
Cotton has a. nigh have been expected severely fl
the late pressure-the market from the 4th to the
18th was In state Of uuexampled piostration
sales being made at most irregular rates according
TO the eAgency Of the seller and character Of the
payment offered, bank notes in instances, command
H. an advantage to the extent of I<d Id above the
rs,al payment. although that is by the rules of tn.
trade restricted to cash bankers bills Prices dur
ing tue ending 7th inst. occasionally quoted
ut below those current on the preceding Friday;
but the market closed at u decline Of only 4 Dur.
ing last week there less rcckessness shown by hold
ers but considerable pre- st continued and in
the face Of successive advces OF large falling of in tn,
receipts into the American ports prices further declined
INK per Id - the quotations Of far bowed and
bile. standing the l4th inst at 6t, and Orleans at
69s per To- The market, however, closed with i'm.
proved ceiling which has since been more decidedly
Inav.fsed the sales on Saturday being 5000 bales o.
culatiop, and 800 for export Yesterday 1000
bales changed hands, 900 speculation, 900 for
port advance since FRIDAY In the qualities Of
rcan below fair Of fully a. and in the better kinds of
u per Id to which conform our tables above. The
sales day ars q 1000 bales, 900 for export.
The Manchester market has felt the financial difficult
ties severely, and been much depressed
Yours, &c. MUSGROVE & VANCE,
Cottap Rrokera