New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1848-01-20

monetary pressure and commercial crisis have Sc
riously Injured ship-o~ners. 4 vas, quantity Of
foreign produce is now stored In the warehouses o.
Liverpool ard London. where u has renamed Tor
months. the consignees being unable or unwilling
to pay the bills Of freight upon II. The captains
Who represent the shipowners, have lien upon
Inc prooestv ihus stored, but they nave no right 70
sell II unless It be OF perishable nature Thus the
consigUee may for mouths withhold the amount Of
freight while the captain Is compelled % pay his
crews wages, port charges aud outht tbs Is
nov considered 10 be very hard case ard one
wbich calls for legislative Interference writer
In the Times refers 20 tnIs subject. and speaks Of
the immense quantity OF goods now warelOused
bv the ship owner and held by him for payment Of
freight end he may thus hold them al inEHifHml or
til his claim ia satisfied. The writer shows the IN
justice oithis and says that the broker or merchsn.
may thus refuse ayment o freight until Il suits his
convenience % ioerate the Goods and Of this pow
er they have availed themselves 20 large extent
during the recent hard times and have thos com
PEELED the ship oNner ~ supply - the extent OF
his freight the merchant with funds to hold over his
produce while the former IS IN immediate want Of
bis freight ~ meet the captains calls iJr expenses
Of bis vessel. IL Is cOntended that the shiPowner
or agent Jr the owner or owners ought % have tie
power within reasonable time 20 sell such por-
tion Of the produce as.wil cover tue freight The
owners OF American ships will rejoice 81 any meas
ures which may DC adopted 70 bring about this re-
sult as they have been put 10 great Inconvenience
and in some cases loss, b. the cousignees refusing
70 take cargoes aud pay the freight upon them
Flour and Grein especially, which at one time was
shipped at high rates could scarcely be sold IN the
English markets for much above the amount Of
cost freight and charges.
The commercial accounts received from India
and China By the mail that arrived last week are
regarded as very dlscOUraging. In CHINA Tue mar
kets were glutted with British goods, and prices
D. a far r,lNf
is sill worse IS that the staple productions Of the
country were so much enhanced IN value hat q
fichtfu loss must be sustained on their Importation
at home.
In long article expecting the appointment Of q
Committee upon Commercial distress, the Morning
Hegad says that the inquiry will be nothing MOI z
nor less than most mischieyOus fraud upon the
British public.
Trade r. still dull and prices Of all kinds OF colo
NAL produce are very low Although the rate u
interest on first class bills indicates that money Is
easy aud plenty yet such u not the tact when ~
well known IN city circles. The D0Hy Nous OF yes
terday. saws. Discount accommodation is scarce
y more within the reach Of the industrial Interests
at large than before -" IL must be evident That
credl IS far from being IN healthy state and that
the mere reduction Of the rate OF interest Oy me
Bank has added and can add little TO public cont
dence so long as that establishment restricts It's o"n
facilities within confined range as the irst-c.A
bills of which 60 few are now ia circulation.
The Corn markets have been animated and a
slight advance in prices has taken place. The same
remark will apply to the Cotton market.
The first copy OF the Presidents Message was
received by the New York packet Ashburton, which
arrived yesterday at Liverpool, but the London
journals have not had time to make any remarks
upon this important document That portion OF II
which relates to the Mexican War and new loan
is not at all liked IN commercial circles.
Several failures are reported to have occurred to-
day and one or two are said to be serious. The
firm Of Cotesrorth, P0reH g. Prier ia the West
India trade, is among the number.
Your very obedent servant, p