The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-02-08
Herald To, eign Correspondence.

BEL terminated in verdict for the plaintiff OF $500
| damages.
Herald Fo, eign Correspondence.
| LONDON, jan 4, ls47.
| Corn Market-Enf Cordiale between the Un;t,d
States and England Manu- cfurers- Cotton Mo-.
nentary Crisis In Franee-Louis Phiiipps and the
Banking Interest-T The English Carrying 7rads- TAe
Mexican Var in Ensland-President's Messoss-Pro.
lection Situation Of Ireland Court .9necdofe Death
Of the Writ IF Right Meeting of ament- Topics
to be Discussed.
Since my last there has been rapid and continued rise
in the corn market The stock hand Of every species
of grain is now much reduced, and tho panic which had
for time been aayed 10 revived with redoubled
alarm. Ships laden with breadstuns come In too slew
for the demand there not in fact ships enough to
supply the present demand with sufficient rapidty The
demand for Indian corn alone Is enough and will con-
nue for at least six months to come to drain you
all the stock you have hand throughout the whole ex
Union No doubt you will have plenty foorn to
spare but apprehended that your supply of wheat will
be- lift is not already exhausted What an jmoulss
this will give to agricultural production throughout the
United States and not temporary impulse, for your
farmers may rely that any surplus they can raise
will be wanted next year much this year and in
deed for many years, to come The United States farm
ers may set themselves TO work as rsisers and pro
ducer OF breadstufs for England, a permanency
While this will be great advantage 10 sgricuI,re in
the United States, will ass be very great one 70 Eng
land This will appear paradox it H. However stricy
true will even be greater benefit to England to de-
pend upon the United States for breadu than to raise
them herself For while this will render the United
states the granary OF the world ii will render England
the carriers Of the world She has more shipping In the
carrying trade than any other country and therefore, in
Importing American breadstufs, will do So not only for
her own requirements. but also for expectation to In
other countries OF Europe. Her shipping interest is
opening Of ports and repeal Of corn laws
on the one hand may dspress the will
isaIsf But h:
American farming interest and 10 her shipping viii by no
means as It has been aPpreheuded by proisctonsts
produce corresponding depression In the English ag
cultural interest For be that this change
only pertains to wheat and other bresdstu and the
capital employed here hitherto Ia raising wheat at
great expense, and will be employ cd on the land
with profit in raising other and dfors while
wheat can be raised for England much cheaper in the
United States than here This seems to promise bepet
TO all parties in both countries ond hence America NAV
lay herself out for permanent export trade Of bread
stuns to England, which may be calculated upon with
safety apart and free from Temporary speouaions for
an unknown series of years to come.
These considerations Of mutual interest are strong In.
ducemsnts to cultivate and maintain the bonds OF ami
cable union between the two countries any attempt
oy party poucians on either side the ster to III
evaporation irritate the two people II much
to be deprecated. An entente eordieIs between the
United States and England, IL the most desirabIe
thing for both countries while at tho same time the in
erchan9e Of mind and science between hese two great
nations WIZ perhaps. be as valuable to both OF them
the pontabis Interchange Of commercial int
Whet happy event in this view the case was the
peaceiul settlement OF the Oregon question surely even
the NEST Jealous of the 81 must that their
vehement counssls at the time not prevail while
doubtless this affair." calmly considered will Der sgsraed
In the midst OF more dazzng brilsnces the measure
which shines with the greatest light in all the policy end
conduct of MIR Folks administration.
II IL to be hoped that the United States farmers have
eid themselves out for great demand of their next
harvest there has been yet il for the PRODUCE of
the last and that should you be able to supply
much more OF the increasing demand here, yet, next
year, you will be ready double the supply without
stripping yourselves II is observed general fea
no fhnfy n
which added terrible TACT that ali tho ersnsres
Of the Baltic and North Of Europe are now CON plsteiy
markets. but the terrible condition Of all the countries
which formerly bore that extinguished name and
Europe for the hope of future supplies almost entirely
upon the United States.
wha; brilliant prospect for the American plough
As Cato said to the enquirer who wished know The
three greatest things OF agriculture PasturePasture
Pasture !" so now might be said to the Anne
farmers, Plough-Plough-Plough !" Now is the time
for tho United States for love least for money 10
turn their swords into ploughshares and their spears
The advance in the cotton market together with the
high price OF bread beginning exercise bad effect
upon the manufacturing districts For time past the
great manufacturers have been engaged in vain strux.
gle with tho Liverpool cotton former re-
tusing to buy cotton and stopping their az much
they possibly could most OF them working short time
but they must give in and submit the evitsble law
tne market as regulated by the supply. This ear the
supply Of cotton Is nesrly one half less than what
ally has been OF late years The price OF II
Ell goods must Use in proportion that your dry goods
merchants Who have got their supply for the year NAV
expect TO make good thing of The stock of goods IN
the Manchester market is comparatively SMELL as CON.
pared with former years. owing to above mentioned
Great distress is apprehendsd will be exporisnced
among the manufacturing classes, owing to this state OF
things; for when ad ere 10th chean thsv
barely lived by the fruits Ct their labor; what will they
do at the present nigh price OF these
articles One thing however must taken into con.
sideraop; when cotton and bread cheap the manu-
acui pushed production excess and made oeir
goods cheap so that they obliged to give low
they always do when they show 10 tho wo rkmen
that the goods fetch so low price hardly to pay for
their productions that as cheap cotton and ches bread
did not, from this cause much bene the working men,
s to hoped that dear cotton and dear ad from the
opposite may not produce the disastrous eject
upon the manufacturing population which il Is nd
ed they will do.
As gave warning of the event in my last SO it las
happened, the monetary crisis in France has come TO
head; il Is there now much IL with you In the
eventiul year Of 1897 when the York Herald ZEN
dered such signal services TO the solid interest
by the boldness TRUTH and foresight ito developments
The Bank Of France in a cksh situation, exactly o.
the great monster bank of the United States was then
situated.
This unhappy and unhesthy position in France has |
chiefly, IT not entirely sprung flom the needing and
neciion Of the with banking business Louis
Philippe has been a mercantile and banking monarch
and has depended much upon the bank aud stock
change OF Fars for the establishment OF his dynesty,
he has upon his amy and iorhcatons The consequent
css are apparent the bank has sent London
making desperate efforts prop itself up and her agent
hos just lett with tolcrabe large amount Of silver hut
1t is doubtful fthis will be able TO fill up vortex
such q crisis IN France Is dangerous than in |
America or England; the French, in commercial mat.
Americans in the holiness OF their transactions and
range OF their resources, and expediens Ia crisis
toid 10 the great article Of export now; II is going out
regularly IN larger amounts than the public statements