New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-11-10
Failures Of Merchants and Bankers IN , England
and other parts Of Europe, since the DEPART
II ~ I.f.
Commercial Affairs.

From the London Observer, Oct ~.
The abundance Of the present harvest ano me
eorssauen revival Of trade vii improve our oor con
alton daily Already n cannot say ihstthe ude Is
turned we can evidently thsf u = running ou' e1e'
H. and that m.y hope for speedy fvusN o. nAioua
prosperity Ia the natural and see1s'omso cn-Hne'
tboTe eli things il !, the duty Of each and every one 70
restore All proper confidence no less nsn 10 discourage
ALI merely empirical uos,rums 81 relief Inc EXCHANGES
from America are turning In our favor IS We sst week
stated osr belief that hey would. ne pseke, H'Hsi
yesterday brings the exchanges AZ nine vnlcn VII
send the precious metals back 70 Ina and some nave
already been received during TIE week rom Europe
wish could ssy that the impor'Suon oi So,n n~1 -
spv material degree cecresscc Bal even IN tn-
~ which the accounts have been made up Ne trp0ri9
tons into he riole Of s Uaied hinSdor % az H,aas
Grain and Flour les hdR 70 NJ rdiAe q A1-
,yu N pouads st,rli-z This IL At the rate OF TWEEN
,v .ix million. year and 10 IN itself quite sufficient y
account for any temporary scarcity OF money. otl'
We hope thsi 10 this particular too we have come 20 "a.
worst The last Official accounts rom America report
ri.s 10 Corn and as 70 falling here II easy 10 tore
- cessation Of imports Indeed. we have learned
mat the merchant OF Liverpool ana most OF Nno'c N
Iondon have sent ont directions Tor TOE enre oscuh
tnusnce Of purchases Ih'n the tue ana nalslL
10 diminish the pressure 90 our resources when W
nav xuct 10 see repl-nished by the demands Tor our
manufactures from the very countries uneh nave noss
benefited by our wants These are me une shd hAtu
sources from which should expect 70 recruit our *
bsn.,ed commerce and restore trade 70 beautiful
energy and aeuon
From wilmer & Smiths Tines
During the brief Interval Of only few days since tn9
departure Of the Caledonia no ameiofsuon IN me stat
- rs,es,,s sF.irs can be said 20 have taken place
The failures which have occurred have mol been on -i
exns - character those previously recorded oDI IN
our own town the pressure mas been A. grrst no'
,reser than AZ any period Of TIE criss u VIII oe seen
that dsuutaton Of our leading merchants, beaded Oy
the MAYOR have applied b. her Msleity Vovrfnmeb'
FOR relief bot ~ the Bank Of England directors snd
very arse class Of rejecting msn continue 20 adhere u
he naexible o. lcpe Of Peels Bank Act Governmer
besse. 10 Interfere seeing that public opinion Is 81
divided upon the subject
p,k nj Iiverpooi aud The Intellectual application 81
snu,aton sent ~ London for the purpose ~ obiant
s.s,snce 20 enable the Institution u go o. Nnen lte
enco reached Liverpool OF the refusal al M nan
~ Fngisnd 10 interfere great CONSERVATION epsueo
vr Liedale the head Of the firm OF Brokers bearing
his name repaired Immediately 20 London With Fies
10 alter the Determination of the Bank OF England Al
regarded his o~n Affairs he pafnaY sueseeo- - 90
believe that 10000 IN bank notes sud A2oovoo i1
stock were al snced d him, and THIS Au-ngemrt
seemed % stay extensive mischief 10 the town severn
failures have however taken place. Nessrs e.. W. a
r. shsnd connected With antigua and The West lnfie
stopped payment as also Berry, Young a 90. coiioi
brokers' Livingston & Co. extensive East india meT
ehsn,s and We learn from London that the sccepisnce
Of Barton irism 4 Hlgginson. payable IN lonoon
rae been refused payment, ~ Robsris. Curtis Co
with the reply of 10 orders This morning me sls
pension Of The arm became msiier 81 public no'orier
aud IL IL stated tina, the liabilities are not ess ihsn un
million sterliug This 10 BY lar the most eNensive i-
prs ,e nave had 10 our town. and We greatly apprf
bend tha the mischief that 1t will occasion will be mos
extensive.
I While we record these mercantile failures we hsvl
also the painful task of reporting that tbs Banking -
Establishments 10 some parts Of tins country are now Al
fected The Liverpool Banking Company followed IN
fate Of the Royal Bank and virtually suspended cas
payments lie business was very much smaller IN q
the Royal Bank The Manchester Bank. Schoes \ %
a small concern has also stopped The heHcssu
Union Jointstock Bank has also closed rs doors
This company had paid up capital Of Rij2 800. aud
being Bank Of issue. their notes In circulation amour
10 $4,000. The sioppage will occasion much ineor
venence In the mining districts, with which the ban
was connected