The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-05-08
News from Europe Important Commercial
Intelligence.

BY the arrival of the steam ship Caledonia, at
Boston, from Liverpool, we have fourteen days
later intelligence from all parts of Europe. The
accounts are exceedingly important, highly in
teresting, and of the most favorable character in
every point OF view.
The advance in breadsufis is precisely what
we anticipated, and what we predicted upon the
receip of the news by the Sarah Sands. 1t was
our impression, when a decline in breadstufis
was reported, that the demand from the CONT
nent would take away supplies from Great Bril-
tain, and the result would, of course, be an adj
vance in prices in Liverpool The advices by
the Caledonia confirm this impression, and we
look for steady improvement both in the de-
mand and in quotations. We have no idea that
Indian corn will reach such high point as has
been touched, but present prices are remunera-
tive, and no one can complain but those who
have unfortunately purchased at rates above those
now current.
The advance in cotton is an extraordinary cir
cumstance in the face of the advance in grain
but it could not be sustained. II will be seen by
the reports of the markets, that quotations at the
latest dates were an eighth of a penny lower than
at the close of the week previous With this de-
cline an advance of three eighths had been real
There has been such complete revolution in
the financial and commercial position of the
United States and Great Britain within the last
five years, that it is impossible to draw our in
ferences from the state of affairs in the two coun-
tries. We are not so much influenced by any
crisis or panic in the money markets of Europe
as in former times; we occupy more indepen-
dent position; we are large sellers instead of large
buyers we are creditors instead of debtors.
The embarrassments of the Bank of England
have comparatively very little effect upon our
movements, and we are accumulating wealth in
hundred different ways by the difficulties with
which the nations of Europe are surrounded
We hold the two grand elements of ife--food and
ralment-and we must feed and clothe the people
of all parts of the world. So long as we preserve
the balance OF trade in our favor, we can control
these two great staples, which is very desirable
and profitable position to reach
The immense amount of specie which every
steam packet brings TO our shores, passes into
circulation. Very little of it will ever return
Our currency is rapidly improving by this in
hux of precious metals, and we have not begun
to realize the benefits this importation of spe-
Gle will produce in every section of the country,
as it has hardly yet passed into the channels of
trade TO extent sufficient to give life and ac-
tivity TO all the departments.
We can hardly realize the rapid progress this
country is making In commercial prosperity. We
are so used to extravagant movements, that il is
only by comparisons with the old nations of Eu-
rope that we can arrive at any definite idea of our
growth. The United States will be the cause of
the downfall of Great Britain That country
has reached its eliminating point in the COM
mercial world. Its decline will be more rapid
than its rise The child is born that will live
to see the United States the greatest and richest
country in the world.