The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-03-22

probably, but little doubt. IL Is meugnt tnaI no
reached Monterey within thirty-six or forty hours
after the reported great battle at the Renconada
Pass, and once in possession OF that place,
which is garrsoned by one or two thousand OF his
men, he was safe against the attacks OF the whole
of Santa Annals army, if that army were not SO
much broken, or Its morale, as the Mexicans say,
so much injured as render it probable that they
would be more inclined to fly at the sight of an
American army than to court an engagement,
although the immense wagon trains OF the Ame-
ricars would save them from starvation, ii they
could only capture them
Our teleg-aphio news to-day may We us fur
Their intelligence of the reported battles Ifnot,
we have no doubt but that Of to-morro ,, or the
next day, will
The Foreign News-Flnancial Nov ments
In Great Britain-shlpments OF pscas-
The Corn and Cotton Markets.
BY the arrival of the steamship Hibe Tia, at
Boston, FROM Liverpool, we have been pu. IN pos
session Of twentyeght days later intelligent from
all parts of Europe. Commercially the ws is
exceedingly important, and, to certain tent,
highly favorable Prices for breadstuffs may, rom
time to time, experience slight decline, ATTN
the face of existing circumstances, they canno but
be temporary. Our accounts confirm the rep 'rts
previously received of the famine, and all dou IS
as to its extent have been abandoned.
The movements of the English government sin
the sailing of the 4th of February steamer, sho
that it required the most active operations ID re-
lieve the distress of the people OF Ireland. The
contraction OF loan for forty millions of dollars
is the best evidence Of that although it is our inn
preston that there were other reasons for making
that loan, than extend relief directly to Ireland
It, no doubt, was intended partly to relieve the
Bank of England, and to prevent, as far as pos.
sible those difficulties and embarrassments in the
money market, which have for some time past
| been apprehended
The most exaggerated reports have obtained
currency, in relation to the shipments of specie
to this country from England. The three steam
ers which have left Liverpool since the LIST of
January, IS47, have brought but six millions and
half of dollars, and the packets which have ar
rived at this port have brought only about two
millions more-making an aggregate, for the two
ports, Of about eight and a half millions of dol
lars. This is much below the estimates of ma
ny, but it is very respectable importation of
| precious metals, tor the time.
1t was pretty generally anticipated that the
government Of Great Britain would resort to this
measure to relieve the Bank of England, in the
event of that institution becoming very much
embarrassed, or the commercial classes very
much cramped, but it was the impression here
thata period for the Intervention government
had not arrived. 1t seems, however, that there
must have been more real distress in the financial
circles in England than we have supposed, and
that immediate relief from some quarter was re-
quired. There must have been some crisis,
| some collapse, in the money market, which we
are yet ignorant OF, in the absence of our files
and letters, 10 have brought the Government into
the market for a loan OF eight millions sterling.
The relief this measure will afford, depends en-
tirely upon the price of breadstus; that they must
continue to rule veryhgh there is very little doubt;
the fact of this loan having been made, is sufi-
cient to sustain prices both in this country and
Great Britain 1t is also seen, that amidst all the
movements Of the Government to provide a sup
( ply of breadstuffs, and to reduce prices, the
markets have been exceedingly firm, and
quotations well sustained. There has, perhaps,
never been period in the commercial his
tory of Great Britain, when such efforts were
made to depress prices, as have been expert.
enced in England within the past sixty days
In the face OF all these movements, and in
the face of large stocks and rapidly increas
ins supplies, there has been reaction
which has placed prices within fraction of the
highest points touched previous to the opening o
the ports, and the abrogation OF the navigation
laws. From this tim forward, to the next har
vest, prices will, without doubt, be at least sus
tanned at about present rates. Supplies canno
60 forward fast enough to depress prices, and thu
demand is likely to increase, as tho season adj
vances, much faster than the receipts from al
quarters. Considerable anxiety exists Throughout
Europe, relative to the supply OF food likely to b.
received from this country. 1t is impossible t.
form any estimate OF the quantity that will be re
CURED between this and harvest, but any reason
able demand we can supply; any thing short o
oae or two hundred millions bushels of corn, W,
can safely spare.
There appears to be depression in the cottor
market, but nothing OF an unusual character, con
sidering the condition of the corn markets. 1t il
impossible to sustain prices Of cotton and corn
the same time. When corn goes up, cotton mus
90 down; although it does not follow that al
advance in cotton depresses cora In conse
quence Of the short supply of cotton, prices wer'
much frmer than would, otherwise, have beer
the case, in the face of the position of othe
markets but the demand was limited, and con
fined, principally, to spinners and exporters.
COMMON CouNcIL.-The Board Of Assistant Alderme
hold one Of their usual weekly meetings this evening
the proceeds Of which will, II Is presumed, commend
some time between s and O'Clock. A the Presden
neglected to give notice sdourning last Monday
ming, whether the Board would discuss the merits Of
oyster supper and the luxury Of real Habsnero befor
calling the roll or not, we are unable TO give more def
lite information with respect to the hour at which the
likely to proceed to business Why this Board nnd
necessary to meet often the Board Of Aide