The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-01-06

The Foreign Nsws-lts looks.
We give, in this days paper, full resume OF
the foreign news received at Boston by the
steamship Caledonia, together with all our
foreign correspondence, which will give the
community more correct and comprehensive
view of commercial and political affairs in the
old world than they received by the brief tele-
graphic report of yesterday.
The news continues to be extremely important.
Let us indicate the points.
The first fact that strikes us is the continued
depression in the cotton market, the steady in
crease of specie in the vaults Of the Bank Of
England, the inanimation in the market for
breadstuffs, and the constantly declining state
OF the colonial markets in sugar, coffee, and
other tropical productions. All those general
facts tend to convince us of the accuracy Of
those commercial views which we have, hereto
fore, taken of the condition of trade in Europe,
and of the course of that trade during the next
six or nine months.
There is nothing in the course of commercial
affairs that should settle prices further down in
the cotton market, unless they proceed from the
secret and Fictitious agencies of the great Lon
capitalists, such as the Barings and the Roths-
chids, and others, we'll known in London, to
produce, by the power Of the bullion market
and the Bank of England, depression in the
prices of all foreign produce, the great staples of
the commercial world, receives further confirma-
ton, and stronger probability, from the news we
give to-day How long this combination will con-
tinue, will depend on the secret plans of the plot
tiers themselves. When all the great staples in
which the United States and the West Indies
are deeply interested, have been put to the low
est point, then the tide will be turned; they will
then purchase all these staples, hold monopoly
of the articles, then raise the prices, produce
great activity for while, realize the profits,
and in process of time, produce another panic
and another revulsion. While the depressing
branch of this policy is going on, the specie is
drained from the United States, by all sorts of
methods, to sustain their operations and to pro-
duce these results. We understand that large
quantity of United States State stocks is sent
to this country fer the purpose of increasing the
drain of specie from the vaults Of our banks.
During the last week alone, probably eight hun
dred thousand dollars in specie left this city in
various ways
In the article of breadstuffs, the inactivity
would seem to indicate that the article does not
come under the same influence as cotton and ar
t,cles of colonial produce. This may arise from
a knowledge of the great crop in Europe gener-
ally; butt is well known that the people of Ire
land, before the winter can be over, will be in
greater state of destituton than they were last
year. People cannot buy food who have no mo-
ney. The government will not advance eight or
ten millions sterling to feed the Irish during this
winter, as they did last. They have introduced
a coercion bill in Parliament to shoot them, and
this will save the necessity Of requiring more Of
our breadstuffs, and may be the means of keep
ing the price Of that staple in steady condition
throughout the coming season.
On the whole, however, the foreign news is
very unfavorable to the promotion of ease and
comfort in the financial affairs of this country.
The drain made by England on one side, and
Mexico on the other, on our specie, will still 60
on, and there is no prospect of its ceasing.
The political news is very unimportant, with
the exception of the rumors relative to the health
of Louis Philippe. The King Of the French is
getting to be very feeble. When we saw HIM
last winter, he exhibited strong symptoms of
weakness and old age; and we should not be
surprised to see him pass away to the land OF
spirits before this winter expires. Athis death,
look out for squalls in Paris, France, and over
all Europe. His death will be an event in the
history Of the nations of Europe.
IMPORTANT DEMOCRATIC MovEMENT.-We un-
derstand that the new democratic committee,
for the year ls45, which will meet tonight, or
some night soon, intend to take into considera-
ton the propriety of calling great war meet