New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-10-05

Y1srs. OLA'h-
MONETARY md Comn,erriaI Affair IN hnsla"d
-Euen>i,e Faiiure~-t.loons Prospect Tor
The Future.
Foreign Corrss,ouderce Of The Tribune.
LoxpoS. Saturday,, P. seP,ls. lsi7
I,i.pox nv sutv 10 commence smother gloomy
chapter in the Commercial and monetary his'ory OF
the present month. Alarming as were the extrA
ordinary facts which recorded ID aioruier comm
uicstion. equally alarming sre those 70 "nich
sts-I refer al the present time pu' ~. Is i-
tellgeuce IS thoroughly examined. ara Us e1ec'
a carefully considered. let DOt the hope De TO-
iontly cter.he3 tbs. tbs easPer VII iermin.e NE
"a. s;ory a.,
The monetary and meresnuie Psnie commences 70
Auzus, II swept through itss month uprooung ne
largest mercantile frrn. u reached ne present Inori1
sepeoer Ard a TIE close ot Ihs month hat ore soil
psnc viii su BE- IL iul force IL WILL no' stop i-en
bsvs prophesed correctly u u0niIs noS passed
away and pro.hesy n0N Tor m nihs yet - cone
.n or rrch ats % entertain 70 ddus4ve hopes bAd
:. tee past hss been the wort y J-t ahea1 1eeI ~
az increased pressure IN monetary IAIs-o s.Dei-
.asustou oftrsse and 20 rnunerste islures Of sVery
serious kind revas. thai the n0rcitly panic TIE dl
state OF trade and failures, vii not ce-ss VIC Sepe
oer but issi IN October they vii Continue 70 sreal
Sc; deeper gloom throughout Llrop- Ana the Otiite
St.,es an no Alsrnlsi-I vstcn tie si.ns Of the
/ rn,.s from correc. position. ny words WI not p
orsoiien IL few short weeks OF norihi ssy ser
ousy and with deep regret thsi during me Nhoie OF
Oc,6bsr Ire crisis viii continue, and VIII "a greatest
severry wrote Ia August that farther heavy is1res
would take place. ! wrote sss.n 10 the oee nEin. OF
September that they would sal corunue and sna u
bls letter give the names Of the great houses NAT
have failed not for Thousands but for r0ns string
The hsi vii Be continued throughout lis month and
the next
The three principal firms that have been compelled to
stop payment are Messrs sASpEEsoS Co. bi-dlscount
ers for about 1900 COO AesUs GovEs- NEPHEws =
Co for { oo0O00 and Messrs. RID, lsviSs & Co. r.
0O0oO0.
The GowEa failure q more serious than even inat Of
ArrxANDEE s. Co bad that hss turned cut 20 De- The
Dali, Ners referring . this failure, ,Ays Ice ~ofsl
case that we have lad notice that u the tcsiano
ing house Of Messrs. COWS the operations vi "hcn
for many years past have extended 10 every pan OF ins
civilized world They hsd branch house Al Liverpool
another a the Nauritus and sui another IN the south
OF France Win Paris they carried on IN scuve ousi
res.u the six trade Russia France and spain. luoia
and China the Led states and south America. NefC
sl 10 aeilge cornmunicaton with this Hell-known s-d
iustv.resp-ctsd firm Their liabilities are estimated
A. on kflior Sfrrlnz The nme1lste causes of this
failure ere stated Be tie other recent failures out tnt
Ii-fs remarks that the resi- dfcllaes Of me hru VI"
be found Of much distant dse, and iaai is qnaa
ton sill expose long existing STATE OF untoundness-
/ . Railway speculstons-ths sOurce whence the pubic
are destined 70 ind TIE solution 10 ceploraole sue
casson II misf0Itunes yet - come-haFe opcrsiro -
expected IN this instance 90 no smsA extent The
lin, saws farther that for two years past The position
Of the house bss from time d time subject OF 10
curry this Ia many quarters a. 10 lesd rretstAty
10 the conclusion that nothing but the circumstance OF
one OF the partners being bar K Director could n-fe
kept IL ia a degree u credit up % this period sl;icn
% render possible The wide and crushing consequences
which must now BE- sustained j hc standing OF Nr
ABEL L. COVER Ia tie Bank Of ENGLAND Nas tuch 40 T.
bring him very nearly rotation for the ONCE Of Depu
tyGOyernOr and be one O h0se psssed over ~ y
whom tho Office declined The recent occasion o
the vacancy caused b the allure OF NJ ROBINSON Ine
Gown failure took place on The 18Th inst TIE h5rrs
P0s q that date presses much sympathy Tor nc rfn
ou. d tne Tlsis correct u u altogether msp sced
The Post however szys, IN ih- iso 81 ihese 'smApe
ineIU.euf and in every respect superior ludis1uas
the ssesf-si sympathy is itlt SID must b. some time
before lhe gloom hich the snp~recz they nave SO
tanned sitter lons and useful czre.r has spread over
the Trading continually vii have psssed away
Inc failure OF Ae.srs sASDEksoN took place 90 lhe
18th met and Il hss been Tue prominent topic OF city
circles ever since.
10 referring - this great failure TIE M0rns1y Pcs
OF the 10Th says The City OF London Sss sgsin
thrown INTO satc vi coDsteruAtion BY the announce
nent OF smother failure u the mOs serious cescrP rcn
The large bil Jiscogning house Of MessTs SANDEAso>
i. 10 be added tie arms which have II sie
been compelled 10 cose their doors, calamity that I'll
b. noe; extensively ie both In town AMI country The
O their liabilities cannot D. stated Win me AL
cefisuty. II would probably not be going too fsr 20
conjecture that it scarcely be lees than million
and hal % milions IL = stated farther that Oil
dscOuniers Of the wholesale order OF Messfs SANDER
Ia the habit OF torro"ipg spare moneys 81 osnk
trs sud OF private Individuals al rs'e OF interest
and lending them out again ~ smother. 10 easier times
toe country bankers much into operations Of THE
Ir
longing 10 The London firm sed win them In deposit
Inc severe pressure for amounts advanced has La
cts.sry led 70 very general caug 10 Oh tas loans on
The part Of lenders sni the crisis having produced re-
repeated suspensions u payment We have 1t once 90
luton of hs sfneulab- event referred 10. Tee Ddty
Nes o the 18th remarks that this arm was second only
OF the clsss in The cry VI London ana ~
Suspension the rrsour - a numerous Dooy OF Gus
toners vii have been suddenly and moot inopport1ne
y cut Of By this large establishment enormous money
transactions have been carried on with merchants
country bankers and others ooin as borrowers ana
Ienders' go
The Msr4fas Hs-ad referring to the same failure.
SAYS finding themselves 80 much involved IN the iai
Of the merchants that they could not lnue
ds;sy meet their liabilities they have Suspended psy
meut. The event has been the subject OF anxious us
cuss0n Ia all quarters Of the city Tor neat 10 me i
ure Of bsnk the s,oppsgs OF nrm OF tns enAfAciei
Is likely 10 occasion iae greatest m'Shlsl nc no.e
De seriously incouveuenced ty tie siopps.e II ives
only the impossoiiiy OF OBTAINING advances ca
Any kind II paper connected WIZ corn uSh'seuons
the present lime which ocA-ea NE h0u'7 70 '-'F1N'
payments. , -. =.
On tie 18th Nessrs. SASDERsoS issued circular 70
their cr stors informing them that ney were un1ef tne
necessity Of susp nins pay eni sad that ne event vas
wholly unforeseen and unexpected o-l ,les SOC -
ed he moot ssDguine exPecisii1ns maj aiAn-'ey -
creditors aud customers VII sustain no 80.
This d tie Old si0ry-il - the t"4ce s3'l = "
the same when tee ALEXANDKRs t-i4r1 ll4 Iie.J i-
lion seriirs-it Va. the sans dsasiTe siofy via the
other failures and yet hos DO the accounts u 'lt'
heavy concerns siae up Way. ALENANDkAs cannon
paw 81 ska.tazsn the pound cav gentleman yes
,srday Al the Corn Exchsnge In Msrk lace "Ho io' ne
th.t kLFNA~pEKs oil for s5.Ooy hai zen olrl5o -
- him for $50 bat be would Lot .zz1 take u a tn-i
sum- When ALENA>pEAs failed u 49, n ported t-si
stter their debts were eli paid there ~o-id - Afss
surp!u.-but where % thai surp-1sf % Il iNoJ ~ -
ci.cogered n ssseis that promise TO feal1s o1y I'VE
shilirs 2, In he pouad TIE recent iAafrs are nos'
lsm-ut.ole 10 their eject spoa the Sno.e nerestNs
800 What security have the creditors o. DOUGLAS
Cr,vs C.srELIAS. DENNY. BsoKEA. OowzAr hoBiN'
80 ar suy II the other srse houses Inai issy W -y
even tie sisrso,yped q. d 10 tae Polai noA -
ritv eitssr has tie m-rcsni-e Uofl1 in.i iAsso -
neud0us failures VII not bring toNa scores q oune'
tesvy arms None whatever. Cti9'T ~ - So''s
ia< -, -,
Rntf nus. pro:eef 10 spesk Of smother fiol' al,
rfr~ OF vsst rusr-ifn.e-Crs that has caused .eh-,~
nd hesvy doom n Loucon ard ore that VII n@Fs the
sans eject il Europe ard The Jaiied Si-es ie,el "
the -re.i house OF uessrs RID. lAFiSS 20. lssr
sf-uoas. Wa kn5Sn o. only lev P-rslLs .s'e.1y
st..ruc1r bat today u Is Puolcy snnoen'rl Ter
HsblE,es AZ variousy estim.ied from one ui-pn an
hall 10 tro Millions sterling u . imy9ss'--e y q
rive A the exact amount 81 present ne 80 sses .
s-,tnsupt sun and sd3s some nieresin o9ser
h. ,o-s.v', ru-oer Il ssys tssi ihe daily anxiety re
.,4irv fsiiu-.s has been fulied % more distressing
80, m ~ have vet al b record Ire house OF
pv,r f-,-rxc 4 CO hss suspended Tor -LoooOOy the
,--,pt Of sccep,Ances soae oeing upward OF 1-Vooo
Tha failure moreover irrespective OF rs sno1at De-
T. f-.r- 49, of TIE head Of