The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-05-20
COM N ERCIAL.


From our Commercial Correspondent.
| NEW YoRk. May I7-Wednesday, 4, D. m.
The number and prompness of the ocean steamers are
sufficient keep well posted up" ia relation TO the az
fairs of Europe, where succeeding each other
with such fearful rapidly During week. the arrival OF
the Cambria brought dates TO the 29h April. Although
there in these accounts not the slightest indication
returning activity in trade they FIRST looked upon
ayorable-smpy, it would appear, because further
violent dc preston taken place The Partisan elections
had passed off without disorder and resulted in strong
orities for the moderate members Of the mment-
fact which caused the rise some per cent
that is the per advanced from 4lh to 4is THIS
however, appears TO be the sole realty amid all The
cries of improvement. Financial affairs remained In
desperate condition. and general confidence was by
no restored. The defeat of the disorganizng
members averted only immediate ruin. The measures OF
what called the moderate men" sufficiently arb
rary and ruinous to excite the livelest apprehension
They have passed 100 DEGREES, nearly every of which
is adverse to the rights of property Decree a. for instance
abolishes strengthening upon the National Assembly
the responsibility of remunerating the and No
100 evies of per upon all incomes derived
from real and funded properly The arbitrary and
dicaloral power is thus ruthlessy exercised by men
protesting republican principles, and called moderate
They evidently because they already feel the effects
the pronounced by NJ Lamarne in his addres
Society OF Political Economy-viz proceed, in the
choice of practical MEANS excite labor "withou inter
ering with the free employment OF capital which dlsap
pears its ndence is menaced" In the de
cline rs 49, the stoppage ofthe nstaments
the taken by NJ Kotchd in the failure OF the
loan proposed by the provisional government in declining
taxes, sagnan trade, in closing manufactures, in the
cessation of employment, in the multiplication OF iders
for government employ and in the export Of all
available property, the have been forciby
minded OF the disappearance of capital that is menaced
Their absolute ruin amid general anarchy is the only
result from q continuation of such course Hence the
moderation the leading members who supported by
all holders of property DESTROYS realize the first reac
ton The affairs of the Bank of France continue to show
the progress of distress The return for April 20 shows
aggravation of all the adverse features, increase
in unpaid overdue bills decrease specie, decrease OF
deposites and increase of circulation with decline in
the the credit of.he government The shares the
bank had rallied from ,2O0f $780, under that
the house of Rohschd had made arrangements for it in
London for 900 of silver at the time silver
in London to 5s 9bd per ounce under the demand All at
fairs of decidedly In England the
affairs ways encouraging The defeat of the
Chartst is evidently far less complete than the
COVE and the press would have the world believe
1t evident, from the OF all the business circulars that
fears of rebellion in Ireland, aided by the sympathies
throughout the manufacturing districts of England,
operating powerfully upon the home trade parayzmg in
all its departments, while the foreign export trade expert
sign of relief; has the triumph of the govern
the Chartsts the 10th April in any degree i'm
proved confidence in either public private credits The
latter appear to be wholly unavailable and specie rapidly
leaving England the amount in bank declined FL, 800 900
in the IA days ending with April o. The London papers,
the dispersion of the assembage OF the 10th April, anti
cipated great rise in consos from investments by Euro
pean capitalists supposed convinced of the stability
of the English government These expectations have been
disappointed consos high before the Charis
meeting The prices folow
Feb %. Feb March Ia. March "a April 90
;ss:2, nj, 4 ss;;' s
On the 18th of February the news Of the French
oluon reached London and prices of consos that had
within short time been lOl, fell to ISL and rallied
500 March ii. At the latest dates they higher
than March a. before the Charist demonstration. AS
far these an indication. English credits did inn
prove At the time, all prices of goods and produce
were exceedingly low without in any degree leading
mercantile enterprise, although money cat cal be
had d per Breadstus low, and the
such excite apprehension for the safety of the
harvests, such in ordinary would form tho basis
of great speculation Last year, however, the hou
were swept away and enterprise generally is in allegiance
The prospect Of in Europe is also imminent, adding
the strength Of the market by the chances of stopping
all access to the grain districts of Europe.
This of affairs in Europe has greatly accelerated
the export the precious metals and in degree rendered
foreign bills available. The agent of the Messrs.
Rothschild has indeed commenced drawing bills Paris
but is known that subscriber to the largest portion Of
the So 900 treasury notes. it is place him.
self in funds. The export Of specie since May has been
nearly as follows: