Herald of the times, and Rhode Islander. [volume] (Newport, R.I.) 1846-1849, 1848-02-24
Later from Europe.

by the Hbernia, from the New York Com,
mcrcal Advertiser
London, January %, 1913
/ The aspect Of commercial and monetary
matters remain unaltered. Never was a more
striking instance presented of Reaction from
one extreme to another than that which Is
shown III our present condition, as compared
with our state in October last. \ period OF
wild anxiety and confusion, such as had never
before been seen, has been succeeded by a
prolonged deadncss no less remarkable and un-
precedented Gold still continues To flow in,
for we have sustained all our foreign pur-
chascs, and money, as a consequence, daily
becomes easier Yet no one ntrade has cOur-
age TO make fresh start. All are distrustful
OF the future; there is therefore, even under
the temptation of the low rates, no demand for
accommodation, and the public funds alone offer
to the capitalist channel for Investment
The rate allowed by the discount brokers for
the use of snoney at call is now only 3 per
cent and the discount of first class paper may
be easily effected at from 3 l-2 TO 3 81 per
cent The rate at the Bank of England is
now per cent.
Colonial produce, such as sugar, coffee, &c,
has been decidedly on the advance. The grain
market on the other hand has experienced a
considerable decline, the fall in wheat being at
least IS. a quartCr--a result IN some measure
caused by the dread of arrivals from the nltcd
States before the resumption Ofdutles III March
next. Cotton has undergone no variation.
For the first time since June last | have no
important failures to refer to. Nearly all our
news of disasters IN this respect are confined To
what we have received from the continent,
where they have been somewhat severe and
numerous. From llavrc we have had the an
nouncement of the stoppage of Delaunay &
Co., American merchants, with Liabilities To
the amount of ESQ 900. At Paris VI. Michael
Bass, banker, stopped for day or two and
then resumed. Lcsage IL Labry, dealers in
cotton goods, have also failed for liabilities for
I IJO, 900. At st. Petersburg a German mcr-
chant named j. G. Pitt has stopped for G250,
900, of which sum more than third had been
abstractcd by him, in his capacity of managing
director, from the funds Of the Salamander In
surancc Company, of that city,-a default
which will have to be made up by his col
leagues, as according to the Russian law the
general body Of directors i'll public companies
are answerablc for each others acts.
The only failure Of any amount in England,
either in London or the provinces, is that OF
! liardman q Co., ofLiverpool, engaged III the
Fast India trade, whose liabilities are stated
at Gl0O, 900.
| The news from the continent of Europe will
prove especially exciting to every lnhabltant OF
the United States, decided movement, sup
pressed for the moment by brutality and blood
she'd but still sufficiently energetic To denote "A
spirit that cannot ultimately be defeated, having
taken place at Milan on the part Of the opprcss
ed Italian subjects of Austria; while at the
same time the kingdom of the Two Siclcs Is
in open and successful revolt, rising having
taken place at all the towns of importance en-
cept Naples, where similar manifestations are
only stltled by the presence OF large body ol
troops. This last nsurrcctlon, as far as IT has
yet gone has been distinguished by the adhesion
of the most influential parties, of noblcmcn OF
wealth and known patriotism, Of the general
body of citizens, of priests, women, and IN fact
of all the heart of the population, and it has al
so been marked by Il degreee oiiorbearance on
the part of the insurgents IN the midst Of their
successes which Warrants the best hopes of
their future course Tho loyalty of the troops
is supposed TO be by no means entirely free
from question, and the chef danger therefore
to the popular party arises from the chance of
assistance being afforded to the King by Aus
trla.
| Mr.. Bancroft arrived at London from Paris
on the 27th of January.
| The famous Burlington Arcade" Lon
don, was IN imminent danger of being totally
consumed by fire on the morning of Saturday,
January the 22d. Two of the shops were
completely destroyed.
/ DEATH OF THE KISG OF DESMARK.-A
letter from Frankfort of the 23d, addressed to
/ the Independence Beige SAYS
! 81 have just received official intelligence of
the death of the King ofDcnmark, which took
place on the Goth of this month, at hali-past
six clock in the morning. He was 81 years
of age. His son, the Prince Royal Frederick
Charles Christian, who succeeds him on the
throne, was born in 1903. lie has no direct
heirs -
| IRELAND.-Thc special commission closed
It's labors at Limerick on the night of Saturday
January the 22d, and opened AT Clonmcl on
the following Monday. The closing scene AT
Limerick was the passing OF sentence Of death
upon three men convicted of murder. The
Attorney General expressed hope that the
results Of the commission would convince the
perpetrators Of outrages that it was impossible
for them to engage III such deeds with lmpu-
nifty; that the number of convictions which
had taken place and the sentences which would
be- carried into execution, would have such an
effect that it would be unnecessary to resume
the proceedings under the commission.
The Mayo, Galway, Tippcrary and LINER
ick journals are loud in their complaints of the
sullerngs ofthc poor in those districts, and sew
cral sad instances are furnished in corrobora-
ton of this dcplorablc state of affairs.
FRoM THE EAsr.-Accounts were received
by he overland mail from Bombay to Dcccm-
Der 18th, and from China to November %.
The intelligence from Bombay Is olno pollt-
ical Importance. Punaub and Scindc were
tranquil, Lord lIardngc was expected to leave
Calcutta in January. Commercial matters had
assumed more healthy aspect, with no ap-
pcarancc of gradual improvement.
The accounts from China are entirely of a
peaceful nature and the feelings of people of
that empire toward the English authorities IS
parlaking of pacific character. Trade was
IN a very depressed condition, and prices had
generally declined