The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-02-22


promise the inquiry stands adjourned 10th instant
Mr. Grsths says he viii make such disclosures will
WISER Under such circumstances perhaps curiosity will
be again reused In the expectation that the moral OF these
events not yet have been altogether exhausted
IL does not follow that Mr.. Grifhs in his next display
will maintain his statements do Justice his former
self but s narrated that the feeling all the persons
present appeared to be much in his favor Great expec
iations obviously rest upon him, and hardly be
doubted that In Birmingham and the districts TO-
row week will be a great day.
The Recent stopp%gs Of John Henderson, of
From the Liverpool Times, Feb. 81
meeting Of the British creditors Of Mr.. John Hender
son. OF Toronto merchant who stopped the 9th OF No
ysmper was nsd on the 2sh ut in London balance G
liabilities To the amount Of f62 OH currency of which
f23 6bl currency (about fls35 sterng) due in the
United Kingdom the assets estimated at f37 ol cur
rency Letters read by which appeared that the
nsovent had been induced the pressure Of the local
creditors TO deed Of assignment in which the
debts divided into four casses-one class OF f3 339
TO be paid in full another, Of Els los in the 81 and
Abe remaining two classes among which are the British
claims 10 receive the remainder OF the estate II was
also stated that the assignee is an incompetent man.
with the additional disadvantage Of having had accom-
modation transactions with Mr. Henderson. There like
wise the disposal Of piece Of land which requires expana
ton further appears that practical English creditors are
looked upon foreigners, and that every effort made
in Canada 10 defeat their claims money going out OF
the colony being regarded much loss The system
Of making preferential ASSIGNMENTS TO be in full
work both in the United States and the British posses
sons most of the creditors had less
suffered by it, There is in fact, no remedy in law When
trader is unable 70 meet his engagements he can make
assignment Of all his property with whatever pree
he thinks it, aud all creditors refusing TO agree TO
that assignment receive nothing out of the assets their
OILY cnAnce On Deng psa aspSnus ut sv w.. ao us
saon in the of which IL mentioned that hrm
sr Tue Sn.e ,osaranf nnt ~ omfv sau sxsrt
their failure, resolutions were passed denouncng the
syssen, su appo I'M VA ens s. " r. ~. ~
that in the existing state Of the law merchants in this
country would do we'll to give no credit Whatever to their
CORRESPONDENTS on the other ,ioe Of the Atlantic
The London Money Market.
from the London Times (City Article Feb. 81
The Bank of England TO- day have reduced their Of
discount from per cent which it fixed Thurs
day last, TO az per sent
This movement had scarcely been autici pated and it
therefore produced effect upon the funds is pre-
samed the Gazette be published will
exhibit further large increase in the unemployed notes,
and that during the past week there has been an almost
total absence of applications for discount Under these
take the present STEP adapt themselves 70 fair
market rate. II is not their business to attempt TO
guide commerce to keep money from becoming
cheap in order prevent of speculation.
Experience and theory alike show all such efforts TO
be self defeating There is no danger at the present
any undue initiation. The evil rather the
other side The dstrust from the recent PAM, is SUCH
both with regard to mercantile transactions and the
agement Of public companies that the public are disposed
to hold aloof from everything Hence money is abun-
dant, and that abundance should tempt people to make
investments or undertake operations while their
JuOgmenB
desr able. H. on the contrary order TO check such
operations and investments artificial means were en-
poyed such as the bank trying TO prevent the rate
be Temporarily Increased only at last TO become uncon.
trolable few months hence when all has recently
passed will have been forgotten
The funds opened this morning decline eighth
and soon experenced slight ip conseaaence
of few purchases But the market again became dull
until the cement of the alteration at the bank when
prices assumed much frmness
rr,or, ,,e 7 onaon r,,,.s ,r,v .r,,c,., r.h a,
p D an% im r SIT nnsn, , ro orr
-, ."e 'As@ ,,,, 1 s wp, ro ' sh ' nsoranoon,
nss vss,.rdov ssnd smhsaonsnippv T,r,har unwsra
osr, az sn,nsd Eth rea, s,aadiness Con-
a sr ,orn hich ,aS or ia, avan,ns a. osS oo
AZ, U ,oad eS -, osy" n% a. .ha c,oa e the al ,ners
a Sa =, os 80 The ar ~ Wa,ch The ,as, ,r;ce
NC as 20 .ya rodrc,on NJ The sart rs,s vas,er
a. as 49,. ar,i..I ~ racso his roorn,ng from Inc
W., Lac. IA ,,,,he ,acaverv on The paris Ronrse
sre aronng shs cansas oS he nrevaiiing sn,mstjon
Eychsons, Mis- exneriaaced a Surther imnrovement
I'M, thsr nos,on with other ENGLISH govern
an 4; t;,i nas,,ssac,orw Wbiie snr ,hyee nar
CENTS are a, es The United Ststes Ave per cents are NJ
OILY .oS, ou nJ h, so,' am, ,nar, s - -
sond 100000 , on Txcbaonor hiis shon,d carrv ca
la This ns,u ~ he accounted for hv The fsft thai the
Aercan notes. a,e msae receivah,a ior cnstoms dnes
nd vii thus NJ ali times be nrevened from falling below
nsr Ths same rule used many vears AGO o snnlv Ia the
Engpsh Excheouer bns INT n was abo,,shes vbost The
seh,as, rs.son and that stem counIad x,h other i'm
NJ under the oredecessors OF The
.asos Shsncaor ~ The Eyrhsonsr has dsstrosed tho