The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-10-20
News from EuroPe--COntinuation OF the Com
merclai nevulaion-Pr0grsss OF tho Panic.


BY the arrival of the steamship Cambria, at
Boston, from Liverpool, we have sixteen days
later intelligence from all parts of Europe. The
news is exceedingly important and interesting,
and in commercial point ofview rather ofan un-
favorable character. So far as we can Judge from
the telegraphic dispatches received from Boston,
there has been no material alteration In the mar
kets Indian corn has slightly advanced, and an
active demand existed just previous to the de-
parture of the steamer. This, in the face of the
endorsements in the London money market,
and the numerous failures in the principal mar
kets Of England, is indicative of permanent I'M
provement in prices, and an active demand. We
hardly expected such movement at this early
day, after all that has been reported relative
to the harvests of England. Accounts from
this country, regarding supplies likely to
90 forward, have had very material influence
upon prices for breadstufs in British markets, but
the reports which have recently been made here,
relative to reduced receipts and advancing rates
must have favorable effect upon prices in Eu
rope. 1t appears by advices received by the
Cambria, that for some time previous to her de-
parture, the receipts of breadstuffs from the
United States had been exceedingly large; this
will soon cease; recent shipments from this side
have been limited, and our next account from
Europe, will tell different story about this mat
ter. Whatever anticipations have been formed
in England relative to full supplies of breadstufs
from the United States during the winter, they
are doomed to disappointment. We shall want
nearly every barrel of -four and bushel of
grain for our own consumption that we shall re-
oeive from this time to the opening Of navi-
cation in the spring. This country is full of
produce; the Western States are literally run
ming over; but we cannot get at it; the farmers
are holding on to their crops for better prices,
and in few weeks the cold weather will put a
veto upon all further transportation from the in
terror.
In the event of the destruction of the potato
crop in Europe being more extensive than anti
cipated, the demand for Indian corn must be
large. That there are many who fear such
suit in England, is pretty clearly demonstrated
by the improvement In quotations for corn, and
the upward tendency of prices of breadstuffs
generally at the latest hour on the 9Th inst The
annexed quotations show the comparative posi-
ton of prices the day of departure of the last
two steamers from Liverpool -
ouorArroS' roh BhEApsrurr, IN LrvEsrooL.
Per ES.rn,s Per Cambria
Western Flour. .2e 800 2eOa2so
Indian Corn. .assasi6 sooss5o
Indian Meal. ...........lb 0al60 l40al50
This shows an advance of four shillings in
Indian corn, and the markets closed firm at the
quotations for other descriptions of breadstufs,
with an upward tendency. This gives some
hope for favorable accounts by the next steamer,
and those interested will look for her arrival
with the most intense anxiety.
The Liverpool cotton market continued very
much depressed, and very little hope was enter
tanned of any immediate improvement. In view
Of the condition of the manufacturing classes in
Great Britain, we could hardly have expected
anything different. It is fortunate for the plan
tiers that the last crop was short, and the one
now coming to market is likely to be below an
average. 1t would be we'll for holders of this
staple this side, toabandon ALL hope of any i'm
mediate advance in 1prices, and make up their
minds to hold on, if possible, for better times.
We must encourage our own manufactures in
every way, and make up, by our own industry,
the deficiency caused by the endorsements and
difficulties under which the manufacturers OF
Great Britain are laboring.
The number of failures in Great Britain for
the fortnight previous to the sailing of the Cam
bria was large, and the amount Of liabilities
greater than those of the same number of houses
reported by any previous arrival. The annexed
list comprises all we have been able to gather
from our dispatches -
FAiLuREs GREAT BRITAIN.
Alison, Cumberiege 20 ......... Glasgow.
Armstrong Alfred. ............. Manchester.
anpt Watson Co NMi snrSs,t.r
Brosdhurst, Il. M. ..................
Bsnsusan, N. L. Co... ............ London.