New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1848-02-03
Hard Times Revenue, Trade aud Mauuine-
lures Of Engiand-Interest, Discounts, NO.
ney-Heavy Failures Breadsiuhs Markets
-Irclapd-The Funds. and the Future.

-Ireiapd-The Funds, and the Future.
Foreign Ccr-espOasence Of The Sev-fork Tribune.
LONDON. Jan. IA, l-ss.
Its well that there have occurred no political.
commercial or other events Of the least importance
lately for the political and other affairs OF tie
United States must now occupy and crowd your
columns. The news from this side can be related
in few paragraphs.
The Revenue Returns the Death Of Madame AIDE
laide Louis Philippe's sister, the Capture oil Aod
el ader the Wellington Letter On the National
Defsnces the Hampden Controversy the state oil
Ireland. the Money Market and Condition OF Trade
are topics which have engaged attention, but with
the exception the l,rst one. perhaps none Of them
require any remarks.
The revenue accounts FOR the quarter anH year
ending the 9Th inst show large dehclt' as com
pared with previous returns, and they indicate the
general distress Of the people and the condition OF
the country Depression and calamity in every de-
psrtnent oftrade and among all classes are appa'
rent in these returns The total net decrease IN
the revenue for the year. as compared win the
prevous return is - 2l7 45i. and the net decrease
during the last quarter is no less than tll55JlJ
The Excise department shows the greatest de-
cline i, ben no less than 500 jOi, and about one
/ b,lfoftbi, decrease was in the last qnarter On
the 5,h Of April when the next return is made up
,til larger deficit will appear, and the Chancel-
lor Of the Excheqaer will then present his annual
midget TO the Nation with most lamentable array
of6-ures Fresh taxation will be proposed and
adopted. and the people will groan under the heavy
load.
There is one metropolitan journal that does not
despsir even with this large deficit in the revenue,
and general stagnaton in the trade OF the country
The Times says. We are not dismayed' For
the past wear it has not been in the power Of the
British people as whole, to sustain their rate OF
living without drawing upon expectation. hope,
and chance itself beyond the utmost limits OF pru-
dent calculation. Mills have been closed or half
worked-railway have been suspended-iniant
cities have been checked in their dangerous pre-
cocity-ioreign orders have been withdrawn, or not
met-specuati5n has drawn within Its she-merchanis
and tradesmen, fallen, falling or likely TO fall have re-
duced their establishments snd otherwise curaei their
expenses-myhads Of operatives sad navves have been
pat on shor. allowance The excise the customs and even
the true and steadst property tax have given way This
o, course, is no, prosperity"
The elaborate money articles Of the Ob'rsr have Civ
proved aspect Of monetary and commercial As daring
the last two months In the last number Of that journal
AFTER enionlng hat the rat, Of interest had fallen per
cent says, but nevertheless It will be ong before he
effects Of the recent crisis arc anf by all classes Of the
trading and mercantile community: for, now, the
distress caused by t occurrence among the IN
erior trades as It was Its first onset among the higher
houses In ousneSs in this country A, present the shop
keepers are suffering ard along with them suffer the poor
people and In the colonies especially the West India Is
lands nothing exceed the general distress that prevails
among the planters and propreios. Men with thousands
year some six months sgn now unable 10 raise
hundred pounds their personal security, or on
the hypothecson Of their produce Il could not howev
er be expected the, such storm that which has just
na.sed over the monetary world should not leave traces OF
the sad havoc Il has made In al quarters"
The Noyuino HsraN Of Tuesday remarks. that IN one
sense the state OF the discount market IS becoming every
dav e,ser 1t must be distinctly understood however
that nothing but paper the security Of which does not ad
nit Of question e Included In the category and h.. at
present constitutes very sms fraction eompsrei with
the ususl wants Of the trade q the country"
In the banking snddiscoun; market money Is abundant
and upon rsteass paper It can be obtained as low as
from 70 per cent but this rate BY no means shows the
,rue state of the money market There very few first
IN
cradle competition. The DGy ysri remarks that much
dsrus OF bills generally prevails; therefore, although
money plenty accommodation, or credit, Iswanng-
In the stock Exchange, the other hand. money Il not
only abundant, but may be had on lower II was
offered in arse parcels at PER cent. without takers TO
the extent 70 be found as much as 100000 were
thus soliciting custom The eGee, Of this to keep up
the prices Of vusc securities which have been gradually
Advancing for sons time.
The steamer Of tie lot inst took ont the Announcement,
Of the failure Of the grea, establishment Of Messrs.
cots,v,,k, Poreg Pryor. I mentioned the event in
my letter Of the 3s, nit This was disaster Of great
mszuitnde ana excited perhaps much surprise any
similar one that has occurred during the last tx months
The liabilities Of the house yArioEsy estimated from
fsOOO0 10 hall million. For tho moment, FEELINGS Of
gloom and Apprehension excited In city circles but
these even passed away. The frm has been most ex-
tenyey engaged in trade with the United States South
America and the indies and having got through the
pressure Of November Il believed that Il would be
able to 20 on specially as the money market had become
Tranquil and discounts could readily be obtained.
But the fall Of this great house shows that the great houses
Of and yet easy position. 1t that
their business has been too widely exended-that their
immense trade with all parts Of the world has been
red a ranous sacrifice in too many instances, and
that although nomioAy possessed Of hundreds Of thou
ssuts Ct pounds in property, ye. the moment panic
and credit Is psralyzed. money IS scare and bills
not negotiable. their fortunes dwadle one halt
ana their creditors saiy aeceP; dividends ranging from
four to hneen shinss In the pound; while the once
wealthy merchant with his pnctly mansions In town ard
country and relnue Of servants s left without Cunea
either business orlve respectfully. Everything
isswept away by one terrible blow
This failure caused the stoppsge Of several houses in
glasgow. Messrs. John andersen a CO. merchants with
Liabilities amounting fl70oo0 Msssrs ". a A. zagior
manufacturers; Messrs. APasa. spinners; Messrs. CD
more q KeTr. sFlnners Mr.. S. Wadds; and 4ader'0n
Hacgregor & Co.
The last India Mad brought accounts Of the stoppase
several large houses IN Calcutta daxen names are
given-cocfesl c.; LyaA. Kss<s0H a Go; Smith. Cor
eA Co; Hodsttnsoa 4 Co: Nay. Fsrsycs Co Church
Lake Co.; E-fag. Ard Co shearaaI, Mullins q Co
Lab. HasniA q Co; Oxen, AZazseH 4 Co; HaghssdeH
Brothers Co. TIE Of their liabilities Is Tot stated
Ii London, Liverpool. Manchester ard other places
thsrs have not been any large failures.
The Affairs Of the American house OF Nessrs. Dsrdpd