The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-07-03

Late U. >. Consul Tdrk's Islands.
Affairs In south Amer1ea.
Our advices are. from Buenos Ayres. May . !;
Montevideo. May 3; Rio de Janeiro, May Is Ba-
hia, May 20 Pernambuco, May g.
The chief items Of news from Blenos Ayres may
be found in the annexed extracts from letter,
On the ith the constitution was sanctioned and pub
lishedI and proclaimed with all due soIemnty the
18TH 1t created less sensation than might have
expected desired but at all events was not the
slightest symptom Of iepuguanoe resistance On the
0h the first general election for senators and represen
tatives took place and. though there had been
warmth in the prospective discussions, everything
conducted in the city at least with the utmost order
made by the government to influence the elections and
it be said that the popular list was cd the
The Constitutional Assembly is to be installed the
Gath inst after which comes the try ing point Of nom
mating the Constitutional Governor, and the appointment
of the Ministry. is doubtful wheth her DR.. Obgado II
elected, will consent to continue; aud fear there
may be difficulty in finding suitable person. able
and willing to fill the Office Strange to Say. the higher
posts in the administration are at heavy discount
corded o phenomenon in the South American repub
lies We fear this must in part be ascribed to the 6ckle
ness and occasional ingraude Of the sovereign people,
who apt to be backward in their operation and
expect e,ery thing from the government As now
entering now era We muet await tie result Of the
exi eriulent with hofe aud patience.
IL commercial matters passiny through crisis
az po Export produce is and tue ~arlike
from Europe has rendered the hoaers somewhat mprac
tcab the Of prices As remittances could not
be made in produce with any certainty prospect OF
advantage attention was neces ary turned to the COM
paraiigely low price of gold and rather large sumwe
believe upwards OF % 600 away by the
Southampton mail Of April. This created stir in the
money market and ounces suddenly Advanced from about
commercial, with hardly any reference to political
causes st it has produced certain degree Of uncasi
Since Saturday there has been slight reaction, on
which day some heavy transactions were made in taow,
1000 pipes having changed hands, at from "a to
ia ifQnt OrfC
when contrasted with six reals, which was common
rate at very remote period AS heavy speculatons
pending on the chances Of war, cannot expect
'uuch stability either in our money export produce
market.
is certain that the revenue exceeds the estimate
submitted by the minister and there supposed to be
at present balance in hand Of twenty odd millions Per-
haps have been importing rather too freely, and
think parties can hardly have forgotten the untoward
gut that took place after the French blockade of l84S
Even with our present high prices of export produce
situation that must soon tell its own tale and demands
extreme caution on the part Of importers
Monteyideo quiet, but extenuated, and under the
most disnterested protection will require years to
crut
Paraguay goes steadily and hopefully; but her
tual demands much limited than persons in
Europe were disposed to believe.
OF the young confederation /, would be premature to
hazard an opinion but intercourse is direct
would advise particn TO await definite instructions from
their agents Altogether look upon the position of
commercial affairs IN the River Plate delicate aud cr
tical and it would be madness to force goods If we
have difficulty in making returns We understand the
Camilla takes heavy remttances of gold, but whether
direct to England only to Montevdeo and rio, it is
From Rio de Janeiro we have accounts to the
10Th May. Our private advices contain the follow
ing paragraphs:--
On the Both of April the first railroad IT, razil was
thrown open to the public the Inauguration taking place
in the presence of their Imperial M esties and i'm
mense concoarse Of the leading peronages of the
pre The director OF the company Senior lveneO Evan
gesta de Souza was on the occasion honored by the
Emperor with the title of Barao dc Mara and the chief
engineer, an Englshnan, Mr.. William Bragge, was deco
rated with the Imperial Order Of the Rose The shares
Of this railway arc now to 10 milreis premium each
On the sth instant, the Chambers were opened One
paragraph Of the speech from the throne fol-
lows " Government continues exercise the most ac-
tive and energetic measures to suppress the slave trade
employing all the means IL can dispose OF to extngush
the abomnabe traffic These efforts have been crowned
with the most happy result
On the LIST instant division of 6oOO of the imperial
troops entered Moncvdeo amid the most clamorous
jocings OF the people
Throughout the empire perfect tranquility reigns.
Exchange q, 37i4 to FIX; Government six per cent
stock 1O7 to 1G7,s New Brazil Bank shares have to day
been sold at 800 premium
The aggregate amount Of exchange negotiated
during the MONTH was estimated at f280OOO on
London 500 0O0f. on Paris and 500 900 mares banco
on Hamburg. The discouraging accounts taken out
by the Great Western had caused decline in the
coffee market of 100 reis. Although the forthcom-
ing crop promised very WELL yet its extent has been
over1ated and the means Of transport from the in.
terror would only warrant the probable receipts be.
ing put at fair average.
From Bahia we learn that the yellow fever was
very prevalent Dry goods dull The sugar crop
was nearly over. Stock about 5000 cases, and short
shipped $4,000 tons. The prospects for the new
crop were very good. Coffee was expected to make
its appearance earlier than usual. Exchange, 27l
to 27S.
Pernambuco dates are to the 22d May. A mer-
camille circular SAYS
The business Of the month has been OF very limited
character. Imports have been unusually small
SCALE while in exports transactions have boon confined
to narrow compass. Our wet season has completely
set in bringing sugar crop almost to close. The
stock held for sale is email and prices very high The
yield to date has been 650 tons against So 800 tons
last year to period In manufactures little is do
ing and prices far from satisfactory. Complaints
loud of this important branch of trade Frcights
have declined during tie month from $50 to about Gao,
and five per cent for sugars to the English Channel for
orders but little produce exists for shipment, and
material Improvement be looked for. In exchange
transactions have been on small SCALE only about
f3 having been negotiated since the sailing Of the
mail steamer the 2lst 27d has been the prevail
ing rate with small amounts at 262{d and &c I'D
Money is toleraby abundant but at high rates of dis
count not being obtanable under nine to twelve per
cent per snnun according TO time and quality Of paper