The national era. [volume] (Washington [D.C.]) 1847-1860, 1857-10-22
Effect of the New York panic-speoie in England


The intensity of thu panic at New York has
for three or four week. past induced An aim ost
total suspension of specie remittsnces from that
side In this way. perhaps, from E5OO 600 to
200 900 that would sherwise have reached US
has been temporarily withheld. For some time
previously, shipmenta have been coming for
ward at the rate Of at least ESQ 600 or
s20O 600 per week, aad nothing had occurred
to produce any materfal change in the relations
of trade which rendered these payments due to
us; but, with the rate of discount at thirty per
cent. for the choicest bills, of course every
American merchant awaited himself, as far as
possible, of his credit here, to delay for remit
ting for claims which would otherwise have
been provided for in due course. With the re.
turn of confidence, therefore, not only will the
usual shipments be resumed, but many arrears
will have to be met; and, as the fortnightly con-
signmeuts continue to reach California from
New FORK, the ability to meet these calls may
be expected rapidly to revive. 1t may be hoped,
therefore, that during the next two or three
months our receipts from this quarter Will
again at least suffice, with the Quantities from
Australia, to keep the stock in the Bank OF
England from further reduction.
At this moment, we have the 1878 0O
brought by the last Australian mail nearly due
at Southampton, but there are no other very
heavy accounts to be anticipated. Whether
the Eastern demand will continue on the COM
paratively moderate scalea assumed during the
past fortnight, depends on a variety of contin-
gencies. Meanwhile, Austria has yet to make
her final arrangements for resuming cash pay
ments on the LIST Of January, and at CONSTANT
nople there is anxious speculation as to the
possibility of attracting new funds to keep the
machinery of state from actually breaking
down. From both ;hese directions, our own
markets may possibly be Influenced. On the
other hand, the Bank of France, if it should re-
sort to any extensive issue of two-pound notes,
may create some partial initiation. The bal
ance of probabilities is, therefore, very even
and the conclusion l., that we may remain for
some time without .nything to enliven or to
aggravate our preseet dull condition.
In the discount market to-day the demand
was active, in preparation for the payments
falling due to -morrow, which will be very large.
The final prices of the French three per
cents. on the Paris Bourse, Friday evening,
were sixty.eight francs fifteen confines for
money, and sixty-eight francs thirty-6 GEN.
times for the account, showing little alteration.
At Vienna, there has been a slight increase of
tirmness. About &2s,OOO of gold was taken
from the bank to-day.
1t is believed that the specie shipped by the
Peninsular and Oriental steamer Colombo will
not be much below 100000. Fully E35, 900
is gold tor India on private account, a demand
having arisen from the natives buying up SOW
erelgns at large premium in Calcutta, as
more convenient to hoard than siver.-LOndon
Times, October 3.
Lieut. Maury and the Legion Of Honor
The National LeteUigencer contains an in.
terestlng correspondence. Count Walewski,
French Minister Of Foreign Affairs, writes to
our Minister at Paris, stating that the Minister
OF Marine and himselfintend to solicit from the
Emperor the nomination of Lieut. Maury to
the Order OF the Legion of Honor, in conse-
quence OF " the great services daily rendered to
navigators OF every country" by Lieut. Maury's
works. de wishes to know if there will be any
objection to this. Mr.. Mason replies in fitting
terms, but expresses the opinion that Lieut..
Msury cannot accept the proposed honor with.
out permission of Congress, while he holds an
othce OF profit and trust as lieutenant in the
United States navy. He forwards the letter
and his reply to the Secretary of State, who
concurs In Mr.. Mason's opinion, and transmits
the whole correspondence to Lieut.. Maury
Ih!s offer Is very honorable to the French Min
,ster, aud Justly complimentary to Lieutenant
Maury.
Two W e6ks LatST uOu OdllIoIuld
New York, Oct IA The steamer Granada,
from Havana, with dates to the 10Th inst, has
arrived The steamer Northern Light, from
AspinwaN, for New York, with the California
mails and treasure, of the Goth ult., had arrived
at Havana. She had on board $l,25O,O 600 in
specie.
The Granada experienced heavy gale on
the 81 and 4th ilst., and afterwards saw the
wreck Of q vessel the name Of which could not
be made out.
The election eturns from California give
Weller, (Dem.,) or Governor, o majority Of
1000 votes owe both his opponents. The
Legislature is als largely Democratic.
NJ. Bates, the, K treasurer of the State, and
Mr.. Roney, his CT ,rk had both been committed
to Jail in default bail.
Chief Justice urray is dead.
COL Casey, Of tennessee, has been killed in
duel with Mr.. | lair.
The overland all from San Antonio, Texas,
reached San Deso on the 3lst of August, all
well.
The reported ssaasinstion of Gen Alvarez,
in Coloma, Mex &c, had reached San Fran
cisco.
Disturbances ave occurred near the bounda
~ Of Lower Cal 6rnia, between the American
authorities and company operating from San
Diego. Arrests ,sd been made of Americans,
and it was consic cred that tie party were fill
busters.
1t was report that Governor Castro, of
Lower California fearing a revolution among
his own people, al Joined the Americans.
Slight shocks an earthquake had been felt
near San Franci 90.
The California markets were dull.
The accounts rom the mines are coed.
From Peru, learn tina. the English and
French fleets b left the Chncha Islands,
placing them at he mercy of Vivanco.
The murderer of Sullivan had been discover.
ed TO be hired ,ravado. He bad not been ar
rested, and his nployers are unknown.
There is not ting important from Central
America.
The Consti.u ional Convention of Oregon
was still in sessi IN. The question Of Slavery
was slightly agil tied.
California has cen declared in most of the
counties The otal vote polIed is some $4,000
behind the pre- eding election. The returns
show msjorit for Weller, for Governor, of
ii 900 over bot Bowie, (American,) and Stan
ly, Republican, The latter leads the Amer,
lean competitor one thousand votes
The Legisa, are is overwhelmingly Demo
cratic. The pc pile resolved to pay the State
debt by majo, ity of $4,000 against repudia-
ton, but they hi We refused the call for State
Convention to wise the Constitution. A ma
jority of the 70 es cast was necessary to insure
the calling of Convention, but so great was
the indifference mauifested, that moiety only
Of the people W ted on the question.
Mining opera ions throughout the State were
carried on as Vi sorously as ever. The various
companies on he river were getting fairly to
work, and mar of their enterprises were re-
sultipg SUGGEST lily.
h. u obor q L. IL