The Washington union., 1857-11-28
% oUR LIvERrooL ooRREsPoNDEEcE
LIvrrooL, November, 1857.

LrvnrooL, November, 1857.
r. "A. Ess~ u a. Ussa
You may be interested 10 know how Affairs are pro
crossing in the Old World during this season Of CONNER
al epresea m the New; and IL the notes Of passing
traveller whose glance viii be askant At generalties
rather than specific details furnish you food fos
aection, they Ae at your service.
Having accompanied the seemingly disastrous news
housht to tins port by the Arabia and having listened
during the somewhat long and monstonous voyage TO
.l~uustoas on finance and government from sundry
.,n,dbe orAcIea had almost worked myself into the
belief that American credit its last legs in Eng
land and that about to bring down with Us in
the general wreck not only the expand Credit Mobier
but the sturdy establishment in Threadneeie street Our
sas have mot been realized and the great levishan Of
hanks stands rm and gnds out its daily issues Of
notes which promise 10 pay specie presentation but
~. taken the prcoauon Of raising the rate Of interest
uer oent-a fact which astonishes Young England
nd little Our drafts upon her constituents the
aie of s. 600 900 per month had not disturbed her
,,u.ninity until the arrival Of the Vanderbilt at
Southampton the encouraging ffen America
81 the asf week and the capture Of Delhi had produced
confident in the money markr and loosened the
strings Of numerous operators the stock
hanus the favorable returns from all parts Of England
with reference TO crops inspire buoyant hopes
and ewing to plethora OF wealth, prices sustained
The mercantile houses Of Glasgow, I.eeds Manchester,
and Birmingham have doubt been somewhat pinched
By Ametin failures. bat they keep up good cournge,
and will most Of them weather the sluAll but this last
advance in the rate Of interest has spread CONSERVATION
around and win doubt check the shipments of specie
10 America.
The failure of the Borough Bunk, in Liverpool, ex-
cited the public mind for few hours but that over
They pay of their smaller depostors to-day and the
larger ones by notes bearing interest Our system Of
nanded-I had almost said unlimited credit which
would seem form part Of system, finds but
encouragement here and although, in my ardent
uatrstisr am compelled advocate the political ex
pediency Of periodical es a necessary evil tending
10 prevent the degenercy of democracy into aristoacy
Of mere wealth. the arguments necessary to sustain the
position have the appearance Of sophistTy to who
trade only the basis Of capital Need add that
banking system which places the customer In the atti
taie Of suppIiant in lieu Of that Of white with
rights and in the confidence of institution he has
aided il may be- sustain through long years Of
meruial prosperity, when money was drug bears
marked and discretabIe contrast to the ordinary of
banking In England
The gant steamer Great Eastern in spite of the
traoriinary precautions taken TO insure her launch
still remains on the ways. to the sad disappointment
l.
entertained that she viii get strained in her present
position Big Ben, the monster bell for the houses
Of Parliament has been attacked by the prevailing
Influenza and his voice is gone 1t is limited that the
bell large for the tower and the only graceful
way of getting out Of the dilemma to crack it
and cast ii over again but this is doubt dreadful
saer Another satire the builders of these
remarkable buildings is that ventilation is OBJ
tanned by Of anger holes through the roof Make
note for the superintendent Of the Capitol extension
startling fact at this time in Great Britain Is the IN
crease in number and size of propellers now en-
ployei in the mercantile marine. The material employed
in the construction Of their hus, and those of many
sailing ships is iron the ronwrc rigging also getting
into general and houses and articles Of household
furniture of every conceivable shape made Of iron
Il ii wild dream to hope that at very distant day
the Old Keystone State with its pyramids Of iron and
coal may be reservoir from whence the world may draw
large portion Of its supplies? May not the wars in
other hemispheres and the emigration other countries
which have already rebed the price of labor in Ireland
within the past two years affect the of production
in the mining counties Al to put nearly on
equal footing with the English mines nearly all Of which
are worked deep in the bowels Of the land p There
surely is a morsc Of food for reflection.