The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-11-10
NEW YORK, WEDNESDAY MORNING, NOVEMBER TO- 1s47.

they would, II they could In any prevent her
ward career Be assured of this n fact. Profoundly
In ap'sh s-rvility In or.hp anything suficen ~
ar stoc'sic or loyal In England fulhling to letter.
ANGLO-sAXON.
LONDON, Oct %, ls47.
This mail will convey you intelligence OF mis-
fortune In the commercial world Never was the coun-
try In such q condition Never did such want Of
Hd-nce exist Never there so many failures, and
there such prospect OF domestic Affections
Daughters educated in the lap Of luxury-mothers
with carriages and retlnues Of lsqueys-fstherr, in
dependent as princes--all reduced, lost, gone the
glory OF the past vanished, leaving nothing but the
memory to make affection bitter, and reverses
more keenly felt. Among the fsilures such old
houses Is Barclay, Brothers Co, Reid, Irving
Company, Cockeril & Company and host Of Others.
What houses to stop cannot describe to you
the condition Of affairs In the city Men approach
another without daring to ask the of the day. for
fear of hearing Of dreadful mischance. How 1t
vi. end no one osn possibly tell h .ad ~hsfs . ,anay
lasting and severe Let me draw the curtain.
hs r at
K-an and wife the Keelevs Mira Nisbstt Mrs Glover,
VIM Farren and and host ofothers The Prncesss
Macready, the sisters CushmaD Anna ThiIlon, and
others Lyceum Charles Mathews and Madame, Mrs
Fitz william Blackstone j. Mathews and a good lot
more opened the 18TH The house has been emit rely
done up in white and gold, all China
Drury Lane, to end sad even,ful history Poer old
Druryi The throne of poetry, and the scenoe Of
many triumpha. transferred into French hotel filed
with snobs whiskered Foreigners and trans atlantic
beverages.
where Keau and Kemble have held the mirror up to
nature and where the sun Of shakspears genius has
cast its genial rays on the souls Of his worshippers
." Oh! what falling of was there" The magic wand
of chsrlatsn player has changed the scene and left
for ever-no for ever for let hope for better
things.
Commercial Embarrassment In England
stoppsge Of Banks, anu Continued Fan OF
During the brief interval of only few days since the
departure of the Caledonia aneorston In the state
Of mercantile affairs be eaid to have taken place
The failures which have occurred have not been OF that
extensive character those previously recorded but In
our own town the pressure mas been as arsat II not
that deputation OF leading merchants headed by
the mayor have applied to her Msjestys government
for relief; but the Bank Of England directors and
very large class Of rejecting continue to adhere to
the inexble principle Of Peels Bank Act government
hestates to interfere seeing that public opinion is still
divided upon the subject. 1t L. moreover apparent
that issue Of EXchequer bills would be OF doubtful
ties Whilst an issue Of bank notes would now be- even
II they could prove perfect remedial measure for the
issue order in Council for the purpose OF rendering
nugatory deliberate act OF the Legislature passed not
four years ago would be step which minister OF the
tried Parliament, which might In the SEOUL II the
failed Of refuse to pass act Of In
demnity 1t seems therefore, to hopeless to expect
the Government to interfere but still think that,
soon ministers make up their minds what is the
and proper remedy for the undoubted existing
tary evils they will Immediately call Parliament to-
geher in order to carry their resolutions into effect in
| the most constitutional mode.
The commercial Crisis.
FAILURES oE MERCHANTS AND BANKERS SIN ENGLAND
AND OTHER PARTS OF EUROPE SINCE THE 10TH ocro
Bsrey Young Co., cotton brokers'. Liverpool
BsG.IanS' Mapos0I .b,or. ;,srnnoy
Grszebrook Son, iron merchants. Liverpool
Jones' W., Co, Wholesale tea dealers Liverpool.
Liverpool Banking Company. Liverpool
Livingston Co East India merchants. LiveI pool.
Logan James Canadian trade. Liverpool.
MolyDeux & Hubert, tea brokers. Liverpool
Newcastle Union Joint Stock Bank. $500. Newcastle
Scholes Tetlow & Co bankers. Manchester
Ysrren A Gelis, manufacturers. .Courtray
Warden Co, merchants go. Liverpool
From the London Morning Post
1t cutie clear that the ministers determined to
adhere to the cold blooded philosophy Of the political
Sir Robert Peels Bank Charter Act No doubt
tn Lord John Russell and the Chancellor Of the Exche
quer that the issue Of millions of notes by the
Bank of England would alleviate the present Of
the trading community but they live In fear and trem
bling Of their tyrant and dare not offend Peel The de-
putation What mistaken regards the exact
occurrences IL 1875 and 1876 On Saturday the 18th
Of December 1925 having then only 027 600 Of trea
In Its celers the Bank OF rescued from
M peril Of stopping payment by accidental discovery
of huge box Of pound notes These, with the ap
proval Of Lord Liverpools government 1t Immediately
Issued as a substitute for SOW regns Mir Francis, IN
his valuable hstory OF the Bank, records that the
defiant with which these notes were received in the
country proved that the wSnt OF secure small
r-ncy alone felt Mr. Harm an, in his evidence be-
fore the committee Of the House Of Commons, said
they the pound nots,) worked wonders; far
| my judgment goes, they saved the country" Mr.
Francis further relates that ia Norwich the Messrs
Quincy ssid to have stayed the plague by merely
placing thick pile Of one-pound notes OF the Bank OF
England the counter ~ In most OF the provinces"
continues MY Francis they cine 1,S n9.erl
then the peril and the panic had passed away But
| recurrence to well ri and eifcacious remedy
would be tainted 100 strongly with the spirit of protec
ion, and would too much Of the policy of Pitt
and Of his disciple Lord g. Bentinck 10 be pala able to
Of minis eral philosophers distinguished only for
their knowledge of the science of political economy
and Of course, earring nothing for the two three
millions Of people who may be reduced to esggary ey
Wood, holdug Office they imagae, ouly by leave
license OF Sir Robert Peel will rather the whole trade
damage the reputation Of their hard task master
by invading the sanctty OF Sir Robert Pees Bank Char
ter act and dsecratng the ex ministers financial wis
| dom. -rrrr ...
| From the London Times1
Tha deputation of the Liverpool merchants and bank
coming the port in the empire, and that
involved the most serious disasters has ordi-
nary claim to our sympathy and re'pect We feel for
these gentlemen do for too many others, who with
| great game in their hands suddenly find themselves
Obliged togive Up; and. with capital enough 10 leave
surplus are rui ed for want an
iy available fraction Of their They ask for
advance the credit eth country We long
seen the day when British merchants aud
would have to follow the example set by Irish rail-
wsy directors The demand il just the other
and there can be doubt that the balauoe of utility
| Is ia favor OF regular and reproductive employ
| ment the rude, tedious. and perhaps unpro6t
able works OF the railway. We pointed this last
| hs loan to Irish railways; adding that there
| were many of our own manufacturers and
Irish specuator while the respective additions Of the
two people would soon present the very same claims