The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-02-23

that ediately begin draw the necessary sup
plies requred for the support OF their own people the
porting nation must either stop the produce leaving the
country, or they themselves will become competitors
with for the means subsistence: heuce fear
maj Ike minds TO high prices for two years 20
We spprehend the panic Is caused by he
inability OF needy spec usors TO meet their payments
and the consequence IL, forced sales by brokers ana
others who have advanced and longer obtain the
usual facilities OF discounts.
The favorable position assumed by the Bank OF
France last week has not been maintained Since that
time further dminuton Of 600 00eL has taken place
and anticpations again prevalent Of an advance OF
the rate OF discount TO per cent The present stock OF
bullion is l05 900 Oe0, of which 81 900 00Of at Paris
~ ,000, 009f at the branches.
From the London Times, Feb 3
Letters from Odessa speak of the continuance Of pur-
France and England and the result has been increased
irmness OF prices For delivery in June gre., deal of
business has been transacted The last ivces from Eng
land stated to have exered much influence the
general condition Of the market,
Yesterday morning, nearly all the bakers in the mo-
tropol reduced the price of their bread from ed 3D.
best quality and from s to for household Some few
Of the full priced bakers are charging high as od and
Hour l0d and that OF second quality Cd quarern
From the London Merchant
The monetary and mercantile world were throughout
the greater part OF last week gradually recovering from
the effects OF the recent heavy fall in the value Of
government securities; affairs daily became salts
factory Money was found to be sufficiently abundant
for present wants, the funds going higher, the
from the Continent much better and various
gloomy anticpations Confidence gradually return
,ng and previous estimates formed of the future were
considered as exaggerated Purchases of stock, to q
large amount, addedo the general ancy and there
seemed every prospect Of affairs progressing very favor
ably. These appearances were, however Saturday
checked by fa in the value OF consos the prices
ofevery home and foreign stock Immediately declined
The opinion oil the public mind upon these matters is,
indeed. greatly changed The drain upon the stock OF
bullion is discovered to be fiction but reality and
with every reasonable expectation of increasing export
deposits at tho same time decrease and the
houses look cautiously upon the Offer them
From Paris the state of monetary worse
and IL found that the drain upon the Bank of France
undminshed Excessive speculation corn is also dis
covered and here source of dissatisfaction sxperen-
ced The millions required for Ireland this
and August next, with possibly further grant at the ex
piraon OF that time, has also more depressing ten
| dency.
The revived apprehension however not SO great as
was lately and is still by some persons considered
that the evil is magnited There are SO many
ple though alarmed are anxious to make the best of
bad job and keep desirable and necessary degree
OF mutual confidence. The next weekly return of the
Bank Of England will be read with considerable interest
should be found that the deposits and of bullion
have continued to decrease il is not difficult to foresee
the effect OF such state OF things upon the public mind
| miscellaneous Markets.
MANcHEsrER, Feb ,, half past , o'clock-We can re.
port nothing OF favorable cheering kind regarding
our market today 1t is characterised by an extreme
wunt Of confidence on the part OF buyers who dis
inclined to purchase hey ond their acting
under belief that will rule lower ANY busnes
doing consequently Of the most limited nature Yarns
are unusually fiat and any operations in them are al
prices SO unremuneraing that serious loss must
to those who are compelled to sell ut present. What
with the wait OF confidence in buyersa olersbly firm
state OF the cotton market in Liverpool attending pros
pect ofTeduced rates in the material sufficient 10 in
nuence to any extent the price of or
cie-he tghtness IN the money market which there can
scarcely be doubt will 20 increasing rather than
dimnishing-and the Inevitable accumulation stoc
consequent upon the small operations in goods which
nave taken place Tor some time manufacturers and
spinners are just now placed in most unsatisfactory
and hafrassins position from which it is difficult to
| any immediate means OF escape
Messrs FERGUSON and Taylor write from Msnches-
chester There IS certainly nothing in the aspect
our foreign colonial markets the social cond,-
lion OF our homo population to encourage hope Of
that large demand immediately springing up which
would July employ al the productive of
cotton manufacturers On the contrary the likelihood
thigh prices for food continuing, ut least for
months to rule in this neigh6oring nations must
tend materially TO sbrdge demand for the
drain money IN payment for imports of oreign grain
occasoned by the failure of the potato crop in Ireland
the necessary the rates and nc
companying contraction Of the spring of commerce.
the uncertainty OF an increase in local and
burdens consequent upon the calamity which has fallen
upon ireland in the first placeall these
conspire to render highly probable the fact OF dish
ell consumption OF goods, and a consequent decline in
their value.
ceived ,nst there will be deficient supply of cotton and
that the present high rates W II be firmly upheld and
dis fact Is relied on by many who infer limitation
oipoduciion will before ong, be rendered inevitable
and that the downward tendency the prices of warns
and goods will be arrested The ultimate supply OF
ton yet remains pIoblemntic, and have no longer
any conf encc in munuf cturers egulatDg their produc
uon by the circumstances OF the times the simple
rules OF commercial policy, cannot at present ven
ure 10 suggest 10 our friends how best time their in
Investments whilst so many conflicting influences op
pear to bear upon the future"
RocHDALE FLANNEL MARKET, Monday, Feb. I've
have had very quiet market today and but few goods
changed hands The prices of all qualities Of nanneis
were much the same last report The wool mar.
Ret was Hat but prices remained firm. Macy hand loom
flannel weoveTs are short OF ploy heir earn
ings email The bands employ cd in the cotton mills
al most places are working three four and day
per week.
BY the Madrid journals OF the Goth ult we find that no
ministry has as yet been formed Spain. There is no
| further
| letter from Consantipople states that the Circas
SLAMS have defeated the Russians
and taken two of their forts. They preparing to
attack Aboukour.