New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-11-10
Foreign Correspondence of The Tribune.

LONDON Oct. "a le47-7 o'clock, M
Having made arrangements during the week TO
send the dispatches for The Tribune express from
London to Southampton, now place them in the
hands of a special messenger to be conveyed Oh
board the steamer Washington which will leave
for New. York precisely at II o'clock this morning
The London Observer of the oath, is the only pa
per actually printed and published this day, that
will go out by the Washington, and have sent
several copies to The Tribune office. This paper
contains one days later news than last evenings
papers and important and exclusive information
connected with the present monetary and CONNER
cial crisis. The Observer is considered semi-ofi
cial organ of the Government
The news from England since the departure of
the Caledonia on the lsth is highly interesting and
very important, as anticipated it would be.
The monetary pressure has increased during the
week, and extraordinary fluctuations have taken
place in the money market. Consols have been
down as low az 7s, which is lower point than the =
have marked for many years 1t has been almost
impossible to obtain accommodations on any terms.
As evidence OF the severity Of the pressure it is
stated that the Rothscds were induced to take
some paper yesterday on the condition that it was
not to be paid for under two weeks. The pressure
has been and still is severe beyond all precedent.
Failures continue to take place, including several
Banking establishments Snd many more are sntic-
ipsted.
The failure OF the Royal Bank of Liverpool has
caused a great excitement in that town There has
been an extraordinary pressure in the Money Mar
ket, run upon all the banks, and general want
Of oonhdence among all classes.
On the Goth it was announced that the, Liver
pool Banking Co had stopped pcyu.ent. Thii
Bank was established in 1896 Its ST. ,ppage Wa,
caused by the withdrawal OF its us ual facilities
from the Bank Of England
On the 2lst it was stated that sne Newcastle
Union Joint Stock Bank" had stopped payment
This Bank was establish ed in 1887, with a capits
of tl52 900, and, reoen sly shares which cost five
pounds, sold for don Die that sum. 1t stoppags i
owing to the great. difficulty OF obtaining dis
counts
Messrs. Littledssle h Co of Liverpool, hav
been compelled 20 ask assistance of the Bank G
England As brokers they transact the larges
business OF any house in Great Britain They TAX
every kir.d Of puiuce from the merchants and CAV
their soceptsnces for the same, but this giganti
CONCERN has fouTd il impossible TO force goods uPo
thu market and realize money. and hence their 81
,Jlication to the Bank. $500 900 in Consols stoc
were advanced on condition that It shall be replace
in three months The whole was immediatel
thrown into the ma rsst and sold ics banknote
is said that this r,u se held cotton sugar, and othe
bills, 10 the amount OF 100000
A deputation fros the bankers and merchants c
Liverpool at the / cad Of which WAS the Lor
Mayor. came to town and waited upon the Premie
with memorial, ash ing the Government to adoE
Immediately some MEASURES for the relief OF tn
mercantile community. Lord John Russell ADM
ted that the pressure nder which the commerci'
classes iabored wa, 'rery great, bat he regrette
'na' ne could not hol out any hope that Cover
mens could Int ertere to- sllsy public apprehension
and relieve tbs pressure.
A letter from Birmingham says that larg
meeting was beld in that town. TO consider a NJ,
mortal to the Premier on the s.me subject On
that 81 u diff cult TO convey an des Of the slool
which Lord JIG bn Russelrs declaration to the Ii,
erpool Deputst on has caused among c.xnn,> rel
men"
1t d stated tast the gene rs trade Of Brmin char