The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-05-18


hsnsous strong In the letters received this mornn
that tho expectation Of grain and every other article
subsistence viii be prohibited from the Prussian Pois
provinces The accounts altogether together with tn
still backward state Of the weather. have produced
good deal OF excitement In Mark-lane market. and
further advance has taken place in prices compared
with last Monday.
srArr ov rur Earscu Coer M.nxrr From TIavrt
ths is,tars ra.sx.a $500 ~ hh.r nr;c.s ths advance
being about If thu barrel Throughout Normandy prices
are risur In the north there s slight advance; at
Bordeaux alters IRE calm and ct Nsrseles and Ly-
ons nrices r.msin sta.onarv On Friday In the Paris
market both 0our and wheat we're much In demand and
prcss are agan rising The advance il from IT. to H.
f9c the hscfo gaI,rnani about May l.
VIZ. -, f..,n r .,ro that
IHE hAsvtsr IN " ~, ~ ha ,nost nroductIve
.us nArVss' in Isyps o ho,a MT hs ipnred nv con-
this year If the crops should no. 'e a;a ~ tho
Isry "inos ~ 10 oaieu'" 80. iii Ia Xxi. 81 oynor,
So9oVoo ardsos s'''20'0o' A'''''' - 40
soriptions oi SI"'"
F1nanciai .nteniSc"ce'
From the London Advertiser, April ~
The adjourned debate on the state OF our monetary
affairs will BE- resumed tomorrow night, when We trust
the subject will undergo searching discussion. A
more important question, or one more urgent in Its
claims on the attention OF farliamsnt, was never
brought before any legislature Whatever else may
admit OF diversity OF opinion there can be no doubt
On one point namely tnat tne present state OF things
cannot LAST mucn longer without entailng entire ruin
on the commerce. and credit OF the country. mouth
more OF the state OF auars winch has been witnessed
nncs saturday last, In the metropolis and the pro-
vinoss would inevitably bring the machinery of our
MONETARY anu trading system 70 complete stand
win regard IN inc conduct OF the Bank Of England
We EXPRESSED our opinion There can be no doubt that
that great establishment has been baineabe In
pairing gradually Tor the present pressure instead
going on for several months in diseouptng bills with
It's wonted hherality and keeping the circulation
Its notes though must have seen 1t was adopting the
course which OF all others was most calculated to
cpitate the monetary crisis which has now overtakep
US, anu which menaces the trading and manufac-
turing interests with entire and Immediate ruin
We are aware OF the defence which has been made OF
the conduct OF the Bank in regard 10 the continued be.
raty OF its DISCOUNTS until about three weeks ago
when suddenly ceased to afford It's accustomed accom-
mouatlon we are tolo tnat the estaoshment in
street was ABOVE AL tnings to see
aoundant supplies OF lood imported from abroad and
tnlt ~ dia not unsh ls solely est that cir
custance should prevent the or orders for
1000 10 the various corn.exporting countries OF the
world there are Two OF three facts wnch 90 not ex-
ncy accoru WIN this repiesen.ao rlist OF AL the
BANK could not nave oeeh mat with 80 urgent
necessity Ior aa.ona supplies Oh 1000 as existed in
TINS country win an apunaant harvest 10 various coun
tries abroad was not key tnat gradual dimnution
OF the noeatey Will wnie1 ~ oscountea DIS could
have sensby with the amount OF imports from
1re'su ruores nu' mas - SIN hore az variance Win
Tue .heory Una, ne pms '.s discounts on It's
wontea scale OF anu kep up its note circulation
Inducements 70 the OF corn from america to
continue ther is the iac so notorious In the
nrst proscroea oy TUG pahk anu whch mas since been
most frequently rJecteo ~ the paper OF the very mer-
Snnnts VINO nave peen ane Ts importers OF
corn rom tne otner sue OF the Atiahtc ms we re-
peat TACT wheh mere - no eansaylng ana which
Is az rreconcnaee variance with the statement that
.ne pans nhs haa no oter o.ve III the adop-
on OF more course sooner IMAM ts anxiety
10 see an apuhoant supply OF Iood Drought into the
country The secret OF the banks conduct H. we have
no 10 DC Iouha IN some vague nouon or nope that
e eAcnanses Wouio peofe now nave 1econie 30 FAVOR
aple 10 ns as 70 take away III inducement TO
export puihon from our hores Cacuiatons had been
eonnuenty "aue That III eAcnange lor tne corn which
eiinported the hmercans would nave taken our man
uaG.a.es, anu tnat consequently very nttie bullion
' 11 :" run .,e uou,s =. .no oahk. immense
.neIe can W nv !aestoh, vii ere ong DC re-
oSveu IRON sne .eu a' ~ or nrIsn manufactures
nn,e 'ue elee' =! oa.h I" our snores
.Ae guy "no mas soae ooI ~ ou0 .ne eVl
H. .nas 'ns soraos s.ate OF matters cannot tame place
III TINE 10 prevent tue serious injury 20 our trade ana
S sommri9e. oue wnme we tesaru 'he oanK as highly
Dhineaoe LOT no. having acteu win greater prudence
~ Impossible not 10 see tna the principal blame at
70 Va. ne Ase ae.hahus which
~ .. $500 ae .,ie jus. "I .iis moment
greatly aggravated that but been maiSv n
strumental in compelling the bank to resort TO those
stringent measures which within the last
few days have flied the minds of all mercantile men
with n degree OF alarm which has well nigh led TO
a complete cessation Of comm. rcial TRANSACTIONS
But We have no wish to dwell on the past
The great question now Is what can and ought
to be done with the view Of miticatnn ~ "s ws
cannot entirely remove the pressure which "a still
so severely felt In the money market We referred the
other dsy b. the fact Of deputaton being In town from
tho Scotch bankers to urge on government the pronrie
ty of suspendinp for short perod tho op.rntion 1T
that part of Feels bin Of ls4 which requires that their
issuss should be based on the smount If the
cous metals in their vauits Another most inarorr;a
deputation from Lancashire "a we ara toia ahont -
wait on tho Premier ami the Chancellor Of the ~
cheouer for the purpose of making similar reouest :
The Liverpool aud Journals concur in
ing that this deputaton consisting of number of msn
not onlv of superior Intelligence but Of the verv bohe
integrity will make such representation OF the dsnlo
rabls state of affairs in the NEUTRALITY-SUSPICIOUS. district.
can hardly fail TO make An impression on the nohIs
Lord and The right Hon Baronet The denutation va
are further assured will submit to the Premier and the
Chancellor Of the Exchequer var.ty of facts which
will prove with the cearness Of Reconsideration that II
do not interpose by temporarily
the oseraton of Peels bill the trade and commerc. Of
the country may in few weeks be inevitably and eY
tensivey injured and the a. matter Of course
suffer which tell with fearful effect
on the public securities We earnestly hope that such
catastrophe may be avered and the existing pressure
the money market relieved by the prompt adoptop
the part of the of the suggestions area
dy made by the Scotch bankers and which In day
be emphaticaly enforced BY the Lancashire
deputation.
rErou, tba orao, s..ra.ra Ma, pM,
TIL. dacr.as 90 tha h,,i,;o dnui 10. r. - w.
sxn.ctod IN hs roa ga H. ra,,,r !, Iii h ' uo'
rssnonds with thai ernsctation Not ~, to- ss', So
reason IN ,ndu,o. i'm uada,s hone that IT, haI.nc.
tra 40 "a r,nr. ;n ON rarnr BIZ, a.. ,h.
f.w ~ th vssssls n.na, 9Th sn.c;a ss;,% 70
The Trnitea States ' A'''N "'- 'f~S'' '"NeN '''