The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-10-27

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predicted The public mind IN London had hsoo,rs 40
much depressed by the rdmerous failures which had
pss nnounced that the most gloomy forebodiprs ex
a.a.a. 70 the future. The most exaggerated
naraa o. gen orally credited and they were pre-
- Guy sAins that might transpire in the financial
so.- World. The prediction relative to the
commercial Gre lit of Epeland being shakso has already
and iR the face of the authority upon
.o - of ruin have bsen so generally circulated
80 ~ ier the impression that the darkest day has
ovo.,- enat the black cloud which has so long hung
nm ne commercial world is rapidly passing away, and
= It ultimately leave the horson clear and bright IL
always darkest just before day and daylight is appear
ing IN The East The of further failures
Dy the next arrival fiom Europe will not dispel this
-oeiet In better times every suspension SINH
ar TO those already reported only brings US nearer
sne promised prosperous point The rotten insolvent
houses must all be cleared out There cannot be n
he&i1hy reaction until every one has suspended Should
P"i' recovery be realized there will be momen tary
uansef Oh relapse The commercial system must be
ush'y purgedi 1t must be reduced and permitted to
strength slowly and surely If we wish to establish
10 hesth again upon proper basis and wo therefore,
W o' look upon the suspensions reported from time to
'n'e US any real for apprehension The danger
" peiofe their announcement when so much
listed, when many houses considered sound
80" 'o cent, were In ststs of hopelese bankruptcy
involved go deeply in the commercial transactions
~ enc world upon tho strength OF rotten system Of
credits and fictitious reputation for wealth. The
danger was greatest before it became develop and
the moment 1t Yves known, II no longer existed
ed IL not been for the restrictions placed upon the
currency by the new system upon which the Bank OF
England is regulated this state things would not
been developed at this time. We should have had
such long list of failures to record perhaps for year
or two hence but ii the crisis had put Off by
more liberal system on the part OF the bank for year
or two the crash when it did come, would have been
awfu-it would then have shaken all commercial Gre
dit throughout the country" As greet as are the COM
mercisl difficulties which surround the merchants
Sreae Britain they are moderate compared with those
wch would nave been experienced had the crisis been
deferred Tor longer period The of the present
revuson nave BEEN engendering for years. the sys
tenn OF finance Perfected by Sir Robert Peel brought
them to head sooner than would otherwise have been
realized and large portion Of the commercial classes
OF England and many in this country, have been pre-
served III n bankruptcy by this premature development
Snld therefore, congratulate ourselves upon the
made from time to time of the effect of
THIS new banking system upon the disguised banrupts
Of England Every movement Of this kind msde-near-
iy suspension produced by the existing state of
thngs-s favorable to our interests and places in
more favorable position In the commercial world which
We shall not be slow in ayaing ourselves Of few
years will reverse the present position of things, and
shall date our greatest upward impetus from the com
mercial revulsion in England In lS47.
The demand for money in Boston il increasing, and
some lenders are holding back fer higher rates One
per cent per month has been paid in instances for
loans pledged of the lighter class and prices
for most descriptions have rsceded from former quota
tons some persons having been obliged to sell
rtJ OF contracts and upon the calling in of loans
Inc non-dividend paying stocks.
The receipts the Massachusetts, railroads lie
to be very large The gain on the Western road last
week. was rising ten thousand dollars making the whole
increase at tie present time, considerably three
hundred thousand dollars. The January dividend how
ever it is asserted reliable authority will not be
ovrr for per cent in view of larger dividend surface
To De created within few months The balance of this
year, earnings to be added to the fund now
AMOUNTING to more than hundred thousand dollars
WIN probably swell that account to quarter of mil
lion. The sinking fund il also rapidly increasing
The annexed statement exhibits the quantity of GER
tain articles exported from Boston to the West Indies
and Nova Scotia for the week ending the 23d instant
CoMMaacE OF BosroN-WEExLY EXPORTS.
40 70 Wsst Indies nAPples bills ~; beef bbs a5 do
drums 10; butter, lbs GIG; fish, bbis 4IO; drums
lso do kitts, l0 do boxes, 275; qtls 600; bread
bb!a, 5o candles, boxes, Az; cheese, 644s flour
40; do bunehes, $40; potatoes os 93 shoes, cases
Ii soap boxes, 500 tobacco, boxes, co. do hhds 10;
oil bols 49, hoops bds, $1,000; do bdls 500; shocks
3,92i Toe, tons, 43a beans, bush, o.; hams 100; do
hid, /; domestics bales l.
TO Nova seofia.-Pork btls, $50; apples bbs $50;
onions, bbls, 49, flour, bills, 1884 bread bbls 2s7
meal bbs 402 tobacco, boxes Ia; do key I: rye
flour, bills 30 BUSH 25 onisns bhls SO; stoves
225; candles boxes 7O leather Sides 49, pitch bbls 45
cheese, lbs $50, butter lbs, 1885, hemp bales %:
rice casks .; beef bbls 3d. rum, bbls "a taow hhds
Ia soap, boxes, %; hams, cask, /.
The variety and extent of these Equipments show con-
siderable activity in the export trade Of Boston There is
large trade carried on between Boston ana the British
provinces, which it almost r1onopozes The value of
merchandise exported from Boston for the above week
was $2i6le5; of which 100000 was in domestic pro.
ducts $40 in foreign products aud 81 900 in specie
The Import. Of specie or same period were
of which SPLASH was brought from Liverpool by the
Cambria.
The quantity and value Of domestic exports the
port OF bosso toforegn places during weeks ending
Oct 70, leA7, were as annexed -
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