The Davenport gazette. [volume] (Davenport, Scott Co., Iowa) 1841-185?, 1847-12-09
FOREIGN NEWS.


The Acadia has arrived, bringing ! days
later news than brought over by the Gale.
donna. By the latter vessel We had DO
failure Of forty-cigh. mercantile houses and
tho suspension Of the Bank of Liverpool.
The Acadia's news does not much improve
the dismal picturc:--
The dismal state Of trade and money in
this country, described per Caledonia, con-
tinued 10 exist with unmtigatsd severity
up to tho 2(i,h ult. When tho government
yielded at last to the popular cry for sue
cor, authorized the Bank Of England 10 de-
part from the Bank act OF lS44-smd 10
make advances on good security on sums
Of not less than E2,OOO-st interest after
the rate per cent.
A striking reaction nj ouco took place
in the funds. Public confidence seemed TO
have acquired fresh impulse.
Produce become in better demand, and
the entire fabric OF trade indicated return
ing strength and vigor. Tho accommodation
however, was found to be miscrably dispro-
portioncd to the necessities Of the public,
and the result hns been, within the last few
days, that trade has almost wholly relapsed
into the same state Of torror and alarm.
From the manufacturing districts parlic.
ularly, ndvices are Of most unsatisfactory
nature. Many mills have ceased to work,
and numerous others were working on short
merely open from motives u human.
ity to the workmen, and to preserve tho
appearance Of occupation.
Il is, therefore, perfectly clear that the
present cannot be amelioratcd, ifihc Bank
does not extend its accommodations. Mean.
while il is impossible to form any adequate
idea Of the fearful ruin which must over
whclm every department Of trade.
Day after day, instead Of d,spelling, has
but deepened the shadow of approaching
calamity, which, though perfectly foreseen,
cannot be ayertcd, snve by the interposi-
ton Of the Government nnd Bank.
Fresh failures, 10 On enormous extent,
hnvo taken place within the LIST fortnight,
some Of them the Oldest establishments in
the land, and all affecting, in greater or less
degree, various houses who have still con-
tinued Ia maintain their credit.
The funds which for some days following
the departure Of the Caledonia, had fallen
to point Of depression beyond the recollec-
iion OF any living man, have considerably
revived, though suffering excessive Auciu-
..ions.
England and ireland. English
Parliament will assemble on the 18th inst,
for the despatch of business. The Pnpc's
rescript hns been received, condcmning tho
proposed Roman Catholic Provincial COL
legcs f"r Ireland. A feeling Of universal
sorrow and disappointment. has been caus.
ed bv il.
The Catholic Bishops Of ireland havo
addressed the Lord Lieutenant, on the GER
tain recurrence Of the famine in the ap-
branching winter. He promises that Gov-
eminent will interfere for the preservation
Of humnn life.
Srit.crland.-Thcn affairs Of Switzcrlan nd
are fast approaching crisis. The bellig.
Grant forces are in view of each other, aud
hostiities appear to he inevitable.
Spain.--A reconciliation Inns taken plnce
between tho Queen Of Spain and her hus.
bnnd. The late Minister Of Finance, Se-
nor Salamanca, is charged with fraudu.
lent issue Of bonds to tho extent Of l6O..
100000 reals.