The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-06-04
a = RIVAL
STEAMSHIP HIBERNIA
AT BOSTON.
ELEVEN DAYS LATER
FROM EUROPE.
Important Commercial Intelligence.
State Of the Cotton Market.
ADVANCE IN GRAIN.
THE SUPPLY Of FOOD IN EUROPE.
THE MONEY PRESSURE In ENGLAND.
Change Of the Ministry in France.
The Revolution in Portugal.
MEXICAN PRIVAT e E RI ).
The CAPTURE Of The AMERICAN
BARK cARnGHLITA.
&C., &C., &c.
THE MONEY PRESSURE In ENGLAND.
The Revolution in Portugal.
MEXICAN PRIvATEERs
The CAPTURE Of The AMERICAN
BARK cARn6HIITA.
&C., Sc, &c.


The steamship Hibernia, Captain Ryrie, ar
rived at Boston at five o'clock yesterday morning.
She sailed from Liverpool on Wednesday, the
10Th ult.
The intelligence is eleven days later than that
brought by the beautiful Rainbow. 1t was trans
United, in brief, over the telegraphic wires to
the Neto York Herald office.
1t is almost unnecessary to say that the news
to the commercial classes is particularly i'm
portant.
The cotton trade had suffered severely from
the pressure which prevailed in the monetary
circles.
A better feeling, however, began to mani
fest itself after merchants had leisure to peruse
the advices brought by the Cambria, which ar
rived at Liverpool on the l4th of May.
A greater amount of business was done, and
prices had an advancing tendency.
The sales in the fortnight ending on the l4th,
were 81, 800 bales; of this quantity 400 Ameri-
can were taken on speculation, 1880 American
for export In the week ending on the l4th,
further decline of one-eighth Of penny per
pound accepted by holders of American
descriptions.
The smallness Of the stocks of grain all over
Europe, and the consequent scarcity of provi-
sions became more and more felt, and high as
prices were previously, further and impostant
advance had taken place in the value of bead
stuffs, as well in this country in many of the
near continental ports, within the fortnight end
ing on the 18th.
The supply in the kingdom to carry them on to
next harvest. and the doubt generally entertain
ed, whether enough will reach England from
foreign countries to make up for the home def
cheney, were the causes of the late advances; and
we must admit that the shortnesss of the supplies
from the growers-the rapid diminution of the
stocks the granaries, at the different maritime
ports, and the general tone of the advces from
abroad, have afforded ample grounds for appre-
hension.
Wheat had, however, reached so high
point, as to put it beyond the reach of the poorer
classes. A greatly contracted consumption would
therefore follow, and this would perhaps be the
means Of staying any further immediate rise
on the present value of wheat
The latest accounts from the continental
markets show that much scarcity prevails in
several parts, but as the navigation was open
ed large supplies were expected to come down
the river in very short time, whereby the
wants of the people of those countries would not
only be supplied, but that numerous cargoes
would be transported to England
Accounts from Smyrna dated Both ult, men,
ton that grain had further declined in value,
and that the accounts from the adjacent locali-
ties the subject of the crop, were decidedly of
nature greatly to alay future anxiety, while the
estimate made of the quantity available for pre-
sent necessities, exceeded all previous retarns.
The market for American cured provisions
kept steady, and there was little or nothing of
this description of goods arriving from
Ireland, the importations from the United States
in most instances met ready sale. The value Of
beef, pork, and hams, was much the same as last
noted Bacon, however, in consequence Of the
scarcity Of supplies, and particularly Of fresh
meat, which ranged from It'd to Cd per Id, had an
excellent demand, and the rates were current at
from q to 3s above those last noted.
OF cheese, the arrivals during the fortnight
had been of a limited character; prices conse-
quently had advanced Is per cwt-the prices
obtained on the 18th vary from 42s to Sos per
cwt, according to the quality.
There had been decline Of g. to 3s per cwt
in American taow since the 18th ult. That ar
ticle was, on the 18th, AIS. to 46s. per cwt-
There was no American butter in the market.
The pressure upon the money market had been
more severe than had been experienced for years
past; matters, however, appeared to be improving.
In the last week there had been an increase
in the deposits to the extent of five hundred and
seventy thousand pounds, which the rest, and the
reserve, have also increased considerably.
The Bullion had increased to the extent Of
quarter of million, these favorable circum-
stances enabled the Bank to discount more
freely, even on bills that have had as muck as
months to run advances were made to bankers
at 81 per cent on promiscous paper The favora-
BILE state of the American changes had ben
efcal effect the market.
The consul market nevertheless had been mark
ed throughout by general heaviness, and the be-
lief was general that the Chancellor of the Exche-
quer would have to fund portion of the exche-
quer bills afoat in Liverpool We are glad to
state that the payments of the last week,
which were supposed to be the heaviest ever
known, were provided for, and that the Hiberna
has brought the news of all engagements full
filed.
The pressure during the last fortnight was
most intense, but by extraordinary efforts and
sacrifices, credit was preserved The posi-
ton of affairs was this the extreme pressure
was gone, but money remained extremely scarce
and dear, far too dear for the profitable prose-
cution of business.
The quotations for all the several stocks
though lower than ths closing prices of the last