New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-11-08

4bcunVffior into each even Al great depreciation,
cept Ia the most ins gnhcsnt amounts Foreign orders
f1r Produce aud goods be executed for want of
The customary facilities for disposal OF bills drawn
- -ns them Couhience ia all out snnihilaed and the
currency OF the country 10 great measure Withdrawn
and boarded.
We assure you that If the present pressure BE- not
relieved merchants and other traders Of undoubted
spectabiiiy-vhO are not only solvent but rich aud
v no have merchandise and bills which under ordinary
circumstances would sfiord easy and ample Of
meeting engsgements-wil inevitably be compelled to
stop payment
Toe memoralists ask. a. a relief temporary ad
vance on the credit Of the country
10 reference 70 the depreciation In the value Of
property, Il Ia computed that the article Of Grain fell 80
per cent 10 value In two months that the Cotton held
In this country has DEPRECATED 10 value 10 the extent Of
million sterling since tie end of August that sugar
bas declined 80 per cent and Tea nearly as much in the
present year and that Manufactured Goods have been
sfacied 70 slfnosi equal extent
RECENT FAiLUREs-DEPRRssioS OF THE MARKETS
&c.-Fsures 10 an alarming extent continue 10 crowd
upon Us. and confidence ia entirely unknown. Every
man suspects bis neignbor and bis neighoor 10 turn
suspects him. To transact business large scale 10
impossible and there is fearful depreciation IN the
value of every description Of property Cotton, Corn
Sugar, Tobacco, stocks Consos snd shares Of every
description have experienced during the past fortnight
most serious decline 10 price aud at present there h
no prospect a any immediate eacton.
Among the mos, serious failures which have taken
place since last, may mention that Mestrs
Thomas Son. and Lefevre very old house originally
connected chiefly with Jersey and through IL Brazs
Recently, however its business has been With Russia
The result OF the sloppsge Of this house the
pend0n Of Gessrs De Jersey Co Manchester, said 70
be ost extensive spnners Of yarns 10 the Baltic In this
country. Their debts f345 00O with ample means 10
pay. The most recent failures those OF Messrs.
Barclay Brothers Il Co who have for many years been
mos, extensively In the Msuritus trade. Their
liabilities estimated al &45OOO0 bu, from the fact Of
the house having f75OOO0 locked up ia mortgage debts
In the MSurus stated 10 quarters that should be in
formed AZ be The will show n1lf
ereny for present results st least The leading partner
wss formerly for Sunderland and both Intimate
y allied By relationship with many Of the first banking and
commercial firms. Messrs. Richards Little & Co Lon.
don, have failed Mr Little. one Of the partners,
until lest week Director Of the Bank Of England and
also aDirecor Of the East India Dock Company. and
W Morley Manchester wsr5hOusemen have stopped pay
menis Their liabilities stated at $4,000. w Na'h,
Manchester wooden trade has suspended bis liabilities
being set down 10000 The only failure calculated
to have any direct influence 10 the United states or Cana
d. Is that of L. Phillip Sons Co. whose liabilities are
stated a, 10000 but s said that they will pay 10 full
Among the failures sre Messrs MOcstto Son, Of Liver
pool, a small firm, In the Lsguayra trade Southsm.
of Ashton underLyne, cotton spinoers & Andrews,
Manchester calico printers and White & Co. Water
ford. The Royal Bank OF Liverpool has been com
PEELED 20 suspend payment II 10 understood 10 have
sufficient assets 10 meet all its liabilities. w Mawry, an
American merchant Ia Liverpool resumed payment on
the 4th Of Oct M lie Gre banker. Brussels has stop
ped payments II is expected that Reid Irving Co will
soon pay dividend of S. in the pound The affairs OF
tBf mousse are 10 % Woun1 up
In the manufacturing disircts and particularly ia
Manchester business 10 quite 81 stand prudent mer
chants will not enter into new engagements, however
much tempted BY low quotations while on the other
hand manufacturers show no disposition 10 do business
with any bu, houses Of the highest standing eScep, ior
cash. We believe that good orders are held By many
hrms, bu, In the present position OF monetary ansis
they sbsteln from giving them out Prices cannot be
quoted for almost any description Of goods or yarn.
The firm OF John Thomas Son & Lefevre, the Russian
Merchants which has failed 10 London for $4,000 Is
Of Mr.. Thomas his SON and Henry Leievre.
brother of the Speaker of the House Of Commons and
now Secretary of the Board OF Trade.
On the first Saturday In ls45 the first Of the line
of belonging 10 the British and North Amer
can Royal Mail Steamship Company will sail from New
York for Liverpool aud rice c0sd The iOrtnignty
by these steamers will continue unul
April when steamer will sail every Saturday 10 ana
rom Liverpool and New York and Boston alternately
thus giving regular weekly communication BY steam
iwillmers Mail
LAND LrnrATIoN-A Duke AbsooHdsd- The IaalsH-
able HOMESTEAD The Whigs OF Connecticut not long
since enacted law limiting the sherihs power. He
hereafter seize poor mans homestead value
$500 for Debt This is the principle Of the old Law OF
the rich applied 10 the benefit Of all Let the candid
reader well consider the case of the Duke of BuckDg
ham as stated below snd say whether is not one Of
the best practical arguments In favor of Land Limitation
10 America The Dukes debts TO merchants, msnuisc-
turers mechanics lsborers, sc. are seven millions OF
dollars be hes wealth and power land palaces and
tates His order have ruled England for centuries and
now In ls47 they keep their lands slsrve their gassas
and where they think fit do So refuse to pay their
debts
From the Manchester Examiner Of Oct
The power of the landed sristocrscy must be still
more stiectusly curbed The Laws OF Primogeniture
and Entail must be subjected te impartial dealing.
The case Of the Duke of Buckingham, the great leader
Of the class which insisted that through the instrument
ai,y OF Cornaw the people should pay of its mort
cages has come before the public at happy moment
This Duke has estates In several cousues be has
scores of thousands of of land OF fine quality with
valuable timber upon II; he has mansions which almost
nut the roy palaces into the shade he has titles hesp
ed one upon smother spoiled children loaded with
toys he lie Peer OF the Realm" legislator born and
asserts the right to cit In Parliament even though he
were void OF intellect as OF honesty be oege leRis
ators too and his Oldest BOY will take his sesi
Peer of the Realm, by right, not OF the choice Of a
constituency OF Englishmen, but OF his noble blood
snd beyond al this this great Duke has at least one
county and than borough at his feet power
less TO speak the Peoples House of Parliament except
through bis subserveni nominees And this oversrown
Duke 10 said TO owe more than Sl5OOOOOi He has LETT
the country. 10 fact, HE HAS ABSCONDED; he has
left his creditors Ia the lurch He s not bankrupt and
his creditors cannot make him one Ills estates are
here aud his mansions. and his plate and bis pictures
and his titles and power OF legislation are untouched
estates are only half cultivated mis- tenants have neither
capital nor Independence for they have leases they
are dsvoured by game and they but half perform their
work 10 the social But there IL remedy for
this Duke Ia sacred, bis hsres sacred Er-
srvas thai he has IS sacred sIcpi his obligations and hs
honor The Laws of Prmogeniture and Entail At the
foundation of th. and the upholders of the worn out
system may rue the day when the Duke Of buckingham
sosconded from bis creditors
CoPpER Miners Co.-Two weeks ago, Il was III.
mored that the Company of Copper Miners OF England
had suspended payment with Liabilities to The extent oil
two millions sterling This was contrsdicted, and turns
ont 10 have been without foundation The Company
though in good credit really IN difficulties from me
want OF pay Oh Liabilities ana falling to raise
the sum sm0ng It's preference shareholders, II has
been obliged 10 mortgage lie estates In Wales 10 the
Bank OF England for loan OF 427OOOO 10 addition 10
this tho current dividends suspended 10 the sur
prss Of those who expected to receive them aud who
along with the public nsd gres, faith not merely IN toe
prospective bat 10 tbs present prosperity OF the Com
psny.
The value OF the Wheat exported from Russia TO other
European countries since the last crop u valued al
Sz50OO0O0.
The Times is now considered the organ Of the Wing
Ministry.
The Property and Income direct Tax expires next
April
lis supposed By many that Parliament will not meet
ia landau ftLAbf however "A