The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-11-21
The News from England.

The News from England.
The news from England is highly important
as much so as any we have received since the
commencement of the revulsion In that country.
We have, as yet, in another column, only
synopsis of the intelligence, which we received
through the telegraph. The details will be re-
ceived to-day, and we shall publish them to-
morrow. The leading facts in to-day's paper
give us a melancholy idea of the progress of the
commercial crisis in England. Cotton has
fallen. Corn has advanced. The Bank of Eng
land has afforded assistance under the advice Of
government but the revulsion still continues.
Above ALL the state Of things is so melancholy
and dark, that Parliament has to meet on the
eighteenth of this month, beng two or three
months earlier than the usual time of meeting.
The fall of cotton is equal to about cent per
pound. This has been produced 0tmuch by de-
preston and the stopping of the Working OF the
mills. as by the increase Of the crop In this
country. The amount that will be yielded to the
South will be as much as heretofore, in conse-
quence of the increase Of the crop but the de-
preston in the commercial and manufacturing
circles will lead to other difficulties hereafter
The cessation of working the mills Is very
gloomy indication of affairs there.
Ofbreadstuffs, il seems that -four has advanced
two shillings per barrel. This is advantageous
to exporters Of that article in this country while
it is plain proof of the deficiency OF the crop IN
England, or rather of the increase Of population
in comparison to the means of producing food.
1t is the first decided permanent symptom of the
disparity between the means of production and
the amount of population. According to all &C
IL, IS o,,Aa md Ioct tutIn
in Ireland, and in other parts of Great Britain,
will be even greater than last year. In addition
to that, the railroads must necessarily, in the
money pressure, throw vast numbers of people
out of employment, to add disturbing elements
to the state Of society.
Another important feature in the news is the
fact that government authorised the bank to vio-
late the act of 1884, in order to helphe depressed
commercial interests; and yet, after lull Of
few DAYS, the revulsion broke out with the same
fury as ever So complicated are the disorders
of the commercial and manufacturing classes,
that Parliament was to meet on the 18th, and Is
now in session. This is an unusual thing-belng
two or three months before the usual time OF
meeting And such Parliament! Such a
House England has not had during the two last
centuries 1t may be divided into five parts
The first-the radicals, violent and revolutona-
ry. Another, the repealers, equally Impractical
BILE and disturbing. Another, the wings, utterly
impotent for all settled purposes in such crisis
Another, the tories, who, by their extravaganza
and bankruptcy, are ready Tor all sorts OF
changes. And the fifth and last class, Is the
railroad spectators, and others of that kind,
who wish to mend their fortunes A more COM
plicated impracticable, revolutionary, unsettled,
disturbing and incompetent body than this House
of Commons, does not exist in the whole civil
lied world.
With all these elements OF mischief-the de-
rangement of the currency-the failures among
the commercial and manufacturing classes-the
closing of the mlls-the deficiency o! the crops
the want of work the misery and restitution
of the people, and the weakness of the govern
ment, it will be miracle if England has not
now approached her decline, and will not now
fall with more rapid movement than any coun-
try ever did
With such a gloomy state of things on the
other side, what effect will they have on our af-
fairs? Can we be prosperous when one of our
best customers is going to ruin q?
Such is not very probable among individuals;
but in the history of nations it may be different.
TIL, export of gold and silver during the last
few weeks has alarmed our commercial and
speculative men. The condition OF affairs in
England would seem to indicate that they re-
quire more from us than we do from them. This
will stop the export of specie thither. They
must eat, and they must have the wherewithal
to do So On the other hand, the possession of
Mexico by the United States, will throw all the
mines of that country into our hands and under
our control. We have no doubt that the pro-
duce of those mines for the next year, if Mexico
should be held by the American troops, will be
equal to what it was few years ago, viz: twen-
ty millions in gold and silver. This will give
us control of the specie movements of the world,
and present countercheck to the attempts Of
Russia to interfere in the currency movements
in France and England.
On the whole, therefore, although tho news is
disastrous for the future destiny of England, we
cannot see anything growing out of it that may
be permanently injurious to the United States.
II may affect us partially for short time; but it
seems to be impossible, in the course of events,
to give us any permanent cause OF alarm. There
will be pressure here for few months, and
probably it will then pass away.
Tomorrow VIC shall give full details in the
Herald.
The STEAMER SoUTHERNER left for Charleston
on Saturday, precisely three minutes before her
time, full Of passengers.
Miscellaneous.
Benton, Miss. the LIST inst, WIN. Dreaming, OF