New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-06-19

she was capsized and her crew struggling for their
lives. think this will put stop 70 such naviga'
ton for some time TO come He
Commercial and Monetary Affairs in England.
Foreigo Correspondence Of Tho Tribune.
LONDON, June Sd, les7.
The extremely fine weather Of the last ten days
which has had tendency to bring forward the
growing crops very rapidly, has bad a sudden eff
feet upon the markets but it is stated that the
extreme high prices which have been reached with
in two or three weeks, rendered such result no
matter Of surprise. 1t is expected that grain will
be susceptible Of sudden fluctuations in prices
which will be more the result Of fear, than any well
grounded evidence either of abundance on the one
hand or scarcity Oh the other
Since wrote to you by the Hibernia, on the 18th
ult, there has been very great decline in the pr
oes Of breadstshs, the extreme reduction being.
from that date down % the 3lst, the last regular
market day from l5s " lss. per quarter for wheat
aud proportionste decline upon all other kinds Of
breadstoffs. This change, as have said, was ex.
pected but present prices cannot continues indeed
Yesterdays market was much frmer than it has
been for several days, and considerable business
was transacted at an advance Of one TO teo shings
Der quarter on the rates of Monday. / will pres
emily show why still believe that prices will con.
tinue to advance but ia the first place wish to
quote condensed account of the state of the corn
market from the 18th ult to the 3lst ut, which ap
pears in the London European Journal" of this
day.
cit will be recoected that at the regular weekly mar.
keta mrklaue held on the nth OF May. prices OF all
kinds OF hresdstus ad snced rapidyEssex and Kent
wheat 1907 to ll3. per q rye co. to t5' -four. Nor
folk ann suffolk, 65s 10 70s per sack OF 90 M
mads. 70. to e0s. Al the time foreign wheat
quocd-Dsoizc %. 10 lO7s Canadian slsto Gle per Or
DUTY paid Cansdan fac SIS 10 95. Canada -four 40.
TO 0s Dbl United states, As to 52s Indian
Sc to lie.
Al the regular make, held on the oath ult prices de
clinsd The imports OF the previous week Of 80 900 qrs
OF Foreign $500 qrs of English GOO qrs of scotch and
f<ovs OF ri,h wheat. aided 10 the sudden aud beDe
hci. change from mad extremely fine weather caused
thi. decline The FIJI was u 70 e per a. for wheat 2s
per Dbl for Americ flour; oats lie out Indian corn,
owing Increased consumption OF the article in Eng
lsud maintained previous quotations. The official quo
tatons however. of ths Msrklsne market the
2&th vit fllows Essex and Kent wheat GAS TO l07s
rye 60s 65s -four. Norfolk aud Suffolk 65s to 7Os
tu~u made " sack of ESQ 10 75s soc Foreign whea
-Dsuzic 90. to Ol.; canadian ia 10 e7s fne s4s
plsi Csoads -four 46s TO sos per be United states as
10 So; buck~h-s NONE lodan Sos to 72s 1t Will
b. observed hst the official quotations of Canada ard
rnet states -four were precisely the same the Iih
and Gath ult
"At,he regular merke, held on the 3ls, ul, the las,
market DAY MarklsDe. the ofhsal quotations were
Essex and X ~heat white SOS to 49,; rye COS TO 65
hour. Norfolk aud suffolk, 6Os to 65, town-mAds, 70s
IL IS. ,per sack of eSOlbs Foreign wheat Dsp'zc &c
IS. TO 95. Canadian fine, 76- TO So Canada -four As
~ %5s per bb Oned states as TO 4l Indian sos
TO no. The fall In the value Of wheat from the highest
point has been up TO the last market day 5s per qusr
ter. Prices are expected to su lower, but the
hsusted stsi- Of the markets will soon produce a
non, and prices will again rice %
In il that inc,rn, Won that rar,, 1,,la
confidence 10 now placed in the statements Of some
Oft leading American journals respecting crops
Of corn or cotton Tue merchants depend principally
upon their private letters aud operate upon the advice
contained in them The MorniEs c.ronies of the Is,
inst referring to this subject says" The in
the American papers talk of large supplies of grain and
ncar for export bur the private letters have seen
give no reason to anticipate any such quantities
m~nts would imply and the fall in feighs for aour
would not tend to strengthen the opinion" TIE Morn.
ting Hcald in iu money article Of the lat The
condition OF the market In Mark lane, has sen.
able iudacnce In Arresng any advance In prices the
very small supply Of home produce tending to confirm
the opinion that the larger portion 10 exhausted com
pared with the period Of the season There Is the
ssms tune much uncertainty respecting the quantities
that be drawn from the United States and the
sis, provinces, Snd strong opinion is eonse Quenty
held by many corndesers that the present depression
Of prices wnl be quite evsnescent" The MeraiRS
Csrcsic< OF the % inst ssys- The accounts from the
uspd eoo6rm the spprehensons ss to The
deficiency In the supply of cotton, and also to the
small stocks Of grain which they will be able spare
for this country. These have produced cen
siderable depression and spprehensons In the snufsc
turing disricts. where losses to be matter
OF unavoidable necessity for some time to come This
feeling has been very general notwithstanding the
slight improvement In the of the msrke, darius
the last few days" The cArONicls of this day notices
the advance OF two shilhOgs per quarter for wheat
which took place yesterday
When the eorndesers and speculs,ors are unable to
make accurate calculations to the future supply or
prices TO supposed that your correspondent,
can do 90. yet close and impartial observer am
sll of the opinion tia, prices will continue to advance
The report of the Of the Discount Mnke, for the
week eoding the 22a ult wi show the condition Of the
brokers and merchants At that date II was stated thar
the market bad not changed its character for severa
days. In he first instance the money placed in the
hands OF the brokers to q greet extent called in
which crippled them seriously their funds being
locked Up In previous discounn Thess bills ran OF
gradually and they put In possession of part of
their fasds and enabled 10 do lte business
The order Of shs day is" says the Morntss herald to
cura and do only shsnd mouth business % that the
nccsssity for discounts 10 daily in of active
dimipuuon. Great caution 10 also used 10 taking paper
the failures that have already occurred although OF
great magnitude or importance being quite sufficient to
shake confidence and keep alive apprehension as TO
what msy follow. The rate Of discount cannot Do said
10 be in any way ameorsted and We nUst repeat our
caution 10 the public to place reliance whatever 10 the
statements Of some of our contemporaries however
psrtDscously and dogmatcslly put forth from day 10
dsy-~ho are In the habit Of deduens general eoncln
sioa from some petty Isolated case"
The reports of the following week, extending to the
2sth ut may be briefly summed up. The Bank of Eng
land discounts nrstcsss paper Ut ave per cent and the
ssaing merchants arc relieved 10 considerable extent