Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1847-11-13
NATIONAL INTELLIGENCER.
ERou OUR EUROPEAN CORRESPONDENT.
LoNpoN. OcronER l5. ls4.


surely now have nearly reached lis eliminating
point, Douglas Jerrold says: g If the Emperor OF
Russia chose TO sell out the stock he holds in the
British funds, he could drain the Bank of all its
gold we are absolutely at his mercy. Such a
state Of things is disgraceful 10 our national cha
racter." And g Punch" has also a slap at Sir
Robert Peels financial arrangements in represent
ing the operation of the barter system (a our spe-
Gle having disappeared) in Diapers shop, where
a lady is buying new dress with two silver forks
and a table spoon, and child offering herring
and pound of candles in payment for some cali
co. The :. money article" of the Times of this
morning is of mixed characters for whilst, on the
one hand, the writer says, il is evident we are
only approaching the final state of pressure"
and trade and manufactures must further decline,
the pressure we have already endured must be out
done by what is to come; but there is limit be-
You'd which it will not be BORNE, and all that we
can do is to wait patiently until that limit is at
tanned. The least movement in an opposite d.
rection would constitute the first step Ito be fol-
lowed by many rapid ones on the road to nation
: al bankruptcy" The opposite direction spo-
ken of in this, not very clearly expressed, para
graph is an increase of paper currency, and con-
sequently increased facility for railway and other
specuations. The language is however, of ex-
traordinary strength, and did It proceed from any
quarter famed for stability or consistency of opin-
ION, ~ Wuuiu ne alarming out HUH Tue uhcS
1t excltes, [ witnessed IN more instances than
one this morning, only significant smile. The
tcle, however, is rather consoling when it says:
+" Ii is desirable to notice = some facts which are
stated, IN order that The present panic may not be
mistaken for one having lis entire or chief origin
in commercial dstrust.'
The " final state of pressure is to subdue the
mania railway speculaton) that now jeopardizes
the whole nation" :" Nothing, however has oc-
,Lo ,F AZ
far as the position of commercial affairs is con-
cerned creates any particular apprehensons be-
yond such as have now prevailed for considera-
bic period The Times y certainly gives sound
and sensible advice when it advises all mercantile
men TO contract their engagements as fast as pos
sible and says there is no added reason for alarm
that any of those firms who may have prudently
prepared for the storm which they must long have
was inevitable, will be broken down. g A
contraction IN business has been steadily going on
for months, and, consequently, although commerce
of all kinds was in sound and healthy state
when the crisis was first prophesied, II is now,
beyond question, in a still narrower and safer
: compass. Let the same policy be steadily pur-
: sued, and although each man in business will be
compelled to sustain loss of income he will es-
cape all danger of insolvency" The I" Times
denies that . the want of currency-aIds to COM
merce has been the cause OF the past failures, or
really available for the use of the mercantile
body there would be surplus instead of def
cheney" and money would again be not much
higher than 2! per cent instead Of 6 or or even
10, as II now Is The railways the railways the
railways! is the perpetual cry Of the Times; they
are the great incubus with him, which sits grinning
upon the PROSTATE body of English commerce and
manufactures, until even the words national bank
ruptcy are uttered, as the consequence of any in
of he - a,,ln Go
far British speculation has been turned towards
foreign railways, no doubt such speculation has
been emnently mischievous, but the capital which
has been circulated at home cannot by any reason
ing which | comprehend, have tended in any
considerable degree to the present deplorable state
OF commercial affairs in this great emporium. Your
readers must not be wearied with this long disqui-
ston upon the /" bad fix y Of the mother country,
nor they despair of the ability which she pos
sesses TO put herself in better position. She has
risen, like the tabled giant Of antiquity, with re-
newed and increased strength, after severer falls than
she is at present suffering is like to suffer, and
she will again.
Ireland affords a gloomer picture of Englands
difficulties than either the stock exchange or the
money market. What is TO be done with or for
Ireland ! IS question which every one asks, but
TO which no one can satisfactorily reply. Want,
If not absolute famine already stares large DOR
ton OF the population Of that unhappy country in
the face. The approaching winter will be dread
full one for millions Thanks to Providence. the
English harvest has been an abundant one but food
will be wanted for Ireland. America can supply il.
but how is il TO be paid for England has no mo-
ney to spare. America does not want more of Eng.
lands manufactures than she can consume, and il
she did, the people of Manchester, and Leeds. and
Sheffield, could not barter their cottons broadcolhs
and cutlery for breadsufis for the Irish and receive
no other expression of gratitude for the gift than a
louder cry of "gve, give ~ without any effort on
the par, Of the receivers to help themselves. The
Government is charged with having made false
move, in directing that the national thanksgiving
for the fine harvest collection shall be taken a
the church doors for the distressed Irish. II Ger
tainly is rather Irish way of expressing thanks
for plenty, TO couple them wi call for the
relief Of those who are in rant. The two acts arc
proper and becoming enough in themselves, but Il
couple them together is casting dark shadow over
bright foreground; it is damper dropped upon
gratitude eXlinguisher thrust upon the BURNING
lamp OF our otherwise hearty thanks. Worse thar
all this, i is holding out direct premium to the
people of Ireland to commence a waste Of those
means Of support which they do possess, instead Of
making them careful of the food they have. II il
telling them that all England will again be reused
10 rescue them from state of things from which
they have shown disposition TO save themselves
Ireland can never be raised in her moral, social