The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-09-19
ADDITIONAL INTELLIGENCE
FROM
EUROPE.


From the London Times, Aug 2s1
The excitement arising from the suspen.ion OF tha
house of Messrs. w. X Robinson * Co writes our citv
correspondent rather from the circumstance Of
the senior partner being the Governor of the OF
England than from the extent of the liabilities of the
firm These liabilities stated at about 000 aud
A. understood that the assets as nomnsly made out,
show los. 10 the pound although expectation is
tertaned OF the ultimate realization Of that amount.
The event attributed entirely otpecuatons in wheat,
and the house has for several weeks been included
amongst those whose ability resist the recent pressure
has formed the subject OF discussion the Corn Ex-
change The failure Of Governor of the Bank OF Eng
land Is not an event so novel as to create
the surprise which should properly be consequent upon IL
Within the last eighteen years II We recoect rightly
no ess than six parties who have either oeen actual or
past occupants OF that position have fallen not merely
into insolvency but in the maj orty OF instances have
exhibited In the subsequent winding up of their AFFAIRS
harsher term rarely met with the ordinary Of
mercantile disasters. Inquiry will naturally arise
as to the particular in which this have Its
origin Whatever may be the result 1t hardly
fail to render irresistible conviction which has
new system Of appointment is ESSENTIAL '0 to
the welfare Of the nation 1t Is considered that
there Is scarcely position in which the qualities
Of mature observation, dignifed bearing and
freedom from all personal pecunisry distractions could
be more requisite than in that Of Governor Of the
Bank yet not only Is the post filed by those who
absorbed in legitimate busnsss Of their coupled
often with the anxiees Of the widest speculation which
u Is one main duty OF banker 10 but
by those who not permitted attain to the ad
vantages Of experience even II they disposed to
benefit by the opportunity. The term office OF Gov
Of the Bank is limited to two years and IL is con-
sequenty only just his duties about and to
to another learner that he Is found to have
ed something like vigorous and easy grasp them
One of remedy would obviously consist render
ing the Office permanent and in comforting upon
party wholly unconnected with personal business and
who might be fitted for the post by private station
recognized financial abilities. Another remedy but
perhaps less eectua would be the abolition Of
the practice at pursued by the propretors Of
adopting house lists and thus leaving each new
cancy in the direction entirely to the nomination OF the
existing court The advantage Of the opposite practice
Is exemphed ut the India house and whatever else
may be reformed in the constitution of Eng
land sardy possible but that the close system which
has hitherto prevailed must TO be tolerated
The proprietors have for ample period condded
this branch Of their power to the directors the way
In which these parties have justified the confidence
posed In them has been sufficiently manifested In
etshtetn years the ordinary number Of governors you'd
De ntne and during that period haze already OBJ
served no less thor sir Of those who hare either held
passed through the office hare broken dOwn 1t having
been afterwards demonstrated in almost every instance
that each OF these parties not only the period Of
selection hopeessy insovent but that such must have
been MS condition for many years previously With
these consequences before them the proprietors
nave no excuse for further supineness.
From Bells Messenger, Aug. 90
The failure OF the house of Messrs w. Robinson &
Co. on Saturday, Is attributed to speculation in rye
meal The of the liabilities of the firm il
not yet known, but it IL gener lily believed that they
will not exceed Ell0O00 the assets will we under
stand secure dividend Of from 2s to los in the pound
The fact that the senior partner in the firm Is the
Of the Bank of England not the least import
ant feature in the case inasmuch IL will tend to
spread tnat alarm and increase that confidence
which have already been attended with such fatal ef
fecs In almost every branch of trade SO as we
able to make out the liabilities Of the firms which IN
to the present time have fallen beneath the pressure of
| the Crisis through which passing amount to
about two millions and half The details are Douglas
Son, f3OO,oo0; Leslie Alexander, f45o,o0o King x
Melville, f2OoO0O; Coventry y Sheppard, ESQ 600;
Giles Co f2SOO00; w X Robinson < Co cIiO OeO
four more in London (smaler) e2lOOO0; Liverpool,
1000: Stockton fl00 900; Glasgow, E2OOOO0; Wa
tsrford fl50O00; Cork and Limerick flOO COO Sligo
100000.