The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-04-12

Bv the arrival of the packet-ship Washington
Irving. at Boston, from Liverpool, we have seven
DAYS later intelligence from all parts of Europe.
The political news does not amount TO much,
and there is no change Of any importance in the
commercial world. The corn markets had ex-
perienced slight depression, caused partly by
the large arrivals for several days previous to the
latest dates, and partly no doubt by the pressure
in the money market
We consider this decline in prices mere
ly temporary, as it was produced by other
influences than those connected with the
consumption. East winds had prevailed at
Liverpool for some time previous to the de-
parture of the Washington Irving, ana there
had not been any arrivals from this country
in consequence. A change OF wind carried IN
small fleet of vessels laden with breadstufis, ana
prices became very unsettled, resulting IN snght
depreciation In view of these facts, we cannot
resist the impression that IA revival was reaiizeo'
and that the next packet will bring accounts OF
complete recovery IN prices
II will be recollected by those engaged In the
trade that at the latter end of January, between
the derarture of the Sarah Sands and the Cam
bria. the price of grain in Great Britain en-
perienced decline, produced by the repeal of
the corn laws, the opening Of the ports, and by
the quantity Of corn put upon the markets by the
announcement of these movements on the part Of
the government. Holders Of breadstuffs in this
and other markets Of this country, upon the re-
oeipt of that intelligence, experienced small
panic, and -four fell of very rapidly. A few days
suf6ced to restore the tone Of the markets, and
prices gradually recovered. The next arrival
brought accounts of reaction on the other side,
and all kinds of breadstufis have since steadily
advanced. The effect of the news by the arrival
at Boston, has not yet transpired, but the nature
of the accounts is calculated to depress prices.
The extent of the scarcity Of food in all parts Of
Europe, and the extent Of the probable supply from
other sources than the United States, is pretty
generally known on this side, which may have
a tendency to neutralize the effect of the latest
advices upon our markets.
SO long as the demand for bread stutfs for con-
sumption continues SO much greater than the do
nestle supply, there will be very little danger of
prices permanently depreciating. There may be
a slight falling off from time to time, from local
causes but as the season advances, and as the
supply dminishes, prices must improve, and be-
fore next harvest rule much higher than at pre-
sent II is nothing strange to see prices for cot
ton steadily settling down. 1t would be very
strange, under existing circumstances, to see the
reverse The falling off in the consumption was,
ut the latest dates, about thirty-three per cent,
which, with the high price of food, could not
but depress prices.
The London money market had not improved
an iota Consols had declined, and prices ruled
very low, comparatively 1t was supposed that
the crisis had arrived, that the greatest depres-
SION had been experienced, and that change for
- L.
dation existed for these suppositons, we cannot
discover, but we trust they are not based entirely
upon moonshino.
There are two steamers nearly due-the Sarah
Sands, the packet of April lst, and the Cambria,
the packet of the 4th. The former is now in her
twelfth day, and the latter in her eighth day.
They will both be in this week, without much
doubt. with several days later intelligence.