Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1851-06-26
Correspondence of the Commercial .4dvert
THE COTTON CRISIS

THE COTTON CRISIS.
In the last advces it anticipated that the present
packet would take out news OF an important failure
Liverpool, and the event announced here, yeser-
day. The house is that of Mr.. r. E. Hyde, who has
tor long time occupied excellent position as a cot.
ton importer and who is known to have possessed as
recently as January last fortune of from f70O 900 to
tlO0OOO. Last year he was very successful in his
views OF the market and is probably from the conse-
quent boldness that ne is now ruined For some days
hoped that arrangements MIGHT be mazda IN avert
direct suspension and it is still asserted by those who
look favoraby on the case, that there is possibility that
with cautious realization the may yield 2Os in the
pound Persons more likely to be accurate however, say
that about l5s only may be expected Mr. Hyde's to.
tai Liabilities it is supposed will be found TO reach
t3OO His paper appears to be chiefly in the hands
OF leading houses, with whom will produce no ser-
GUS Inconvenience. Some OF the loss it is believed
will fall upon your Side
Another cotton failure has also been announced
namely, that OF Mr. H. w. Schwartz, of Liverpool and
London whose Liabilities are supposed to be rather con-
siderable, although their amount has not been stated
Mr.: Schwartz suspended on former occasion-n 1S4S
While the cotton market has been declining, there
has also been long continued depression in the iron
trade, which, that dis rust has been awakened is
likewise causing failures Last week the stoppape was
announced OF Finch Son, iron merchants of Liyerooo
with liabilities tor fl0O000 and Messrs D. Dollhouse
d Co.. firm in the line, have since been unable
to meet their engagements
Notwithstanding these disasters the Liverpool mar
kets seem during the period 10 have manifested consd
cradle steadness, while the from Manchester
better feeling than has prevailed for some time past
This week at Liverpool the payments falling due will
be exceedingly heavy but although the immediate eff
iect OF the stoppages Just announced may lead little
iurtner mischief, the general impression in London is
that no pressure OF an extensive kind be appended
and that hencefoh business will proceed upon sound
er basis, and will be characterized by its magnitude
and uniformity.
AS regards the London money market the belief that
there would now be continuous increase in the stock
OF bullion at the Bank OF England has been confirm
ed, and the total has augmented from fl3260 900 on
the Srd of May to Els, 100000, at which il stood in
last Saturdays return. Gold is still likely TO come
from Russia, and arrives largely by each New York
packet as regular article OF American produce AT
present there are no signs OF the balance of trade being
against us to serious extent in any quarter the de-
mand for India having been pretty well satisfied and
therefore unless the requirements for the country popu
ation, whose movement towards London 10 see the FIX
hbiton now Just commencing, should prove excessive
| the prospect is that the accumulation will 90 on Al
present there is a steady demand for money and the
| lowest rate Is per cent
| The funds have now remained for nearly fortnight
without even fractional change-the quotation Of {
per cent consos being SO. In the wheat MARKET how
ever aitera period OF several months, during which the
price has not varied, rise OF from Is. to 2s Der quar-
| ter has Just taken place.
The railway market continues depressed the state
OF affairs at Liverpool, where speculation in shares
usually goes hand in hand with that in cotton being suct
| as 10 operate against favorable reaction.
| FOREIGN AFFAIRS.
- Ihe reachonary movement on the part OF one oftht
Portuguese garrlsons against General Sadanha ap
pears to have been poor business, but it is not with
out importance denotng the intfgues that will b.
set on foot to furnish Spain and France with plea TO
interfering TO put down the state OF things. The
consent of England would however, be necessary anc
this they would not be likely to obtain. In lS47, wher
the three powers interfered, it to preserve The
| Queen from reinforcement, but the pledges she ther
gave have since been openly broken, aud at the
same time her Government has behaved so Ubiquitous
y its foreign creditors, that any ture attempt
| her behalf would be very unpopular.
In France the prospect OF legal revision Of The con-
stituton is more untavorable than ever.
SPECTATOR.
| HEALTH OF New ORLEANs.-We have to inform ou
citizens abroad and congratulate those of them a
home, on the continued good health OF the city, That
| it is So we have been informed by of our physi
cIans otthe most extensive pracce the returns of the
Charity Hospital, and The current moruary statistics
show it. TO show how healthy New Orleans is at
present, may sta the fact that there were only %
deaths in the above institution during the present week.
IN 0. Delta, Is.
Our farmers have been for the last week or more en-
gagged in harvesting their wheat crop We are pleased
to learn that The yield has been abundant and that the
quality OF the grain is unusually good-Fiedericks
turg Herald.