The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-01-17
SUNDAY MORNING, JANUARY II, 1853.

ing Of muslins an5 mixed cotton and woollen
stufs, and whose business was quite aOurishing
little while ago; whereas at present there are be-
tween five and six hundred hand looms at stand
still, and applications are made to the wealthier
part of the community to keep the workmen from
starving The intelligence from the manufactuf fng
districts on the banks of the Rhine Il also very dis
tressing.
As mentioned before, a great number of banks
and banking associations had sprung up during the
last two or three years in various parts OF the coun-
try; most OF them have had the capital paid up ia
full and 1t il impossible in these times that they can
all get oil without serious losses. Some Of the
shares have fallen considerably and are likely to go
down still more II IL should turn ont that they pay
no dividends. we hear already Of one-an insurance
company against damage ty hail-having concluded
upon winding up its affairs; but they have first to
make call of 40 thakrs per share ON the stock.
holders to pay the losses incurred, and
it is not thought that this will cover
the whole deficiency. Ia this city failures OF second
rate houses continue; the bankruptcy of Donnwald
Il Co, a forwarding and commission house, who
were Just engaged IN erecting splendid warehouses
and stores, and seemed to be carrying everything be-
f,fe them, Is more talked Of than many others OF
greater account. On the whole however, the ex
treme tension IN the money market has relaxed
Yesterday the Bank of Prussia reduced its discount
to ST per cent, and money is to be had now on
Change, for first rate bills, at 81 per cent 1t is
hoped, therefore, that the crisis has passed its cu
minatng point anu il about to subside, although its
baneful consequences will be long felt and perhaps
may serve as a lesson that only such establishments
ale to be trusted as carry on their business with
their own funds while those who trade on borrowed
capital must ultimately go by the board. Il believe
this dictum is plagiarized from old Col Benton, but
IL is true, nevertheless.)
The refusal of the Bank Of russia 10 assist the
mercantile community of Hamor,.. is commented
upon pretty severely and coutrasted with the con-
duct OF the Austrian Knanciers whose loan of ten
millions came at the very nick OF time to save the
greatest commercial emporium of Germany from u
complete crash 1t should not be forgotten, how
ever, that the Bank of Austria suspended specie
payments years ago, and has not paid out dollar
in hard cash since. During all this time the bullion
has been accommodating in their vaults and they are
consequently much better able to spare it than the
Bank OF Prussia, whose notes redeemed on de-
maDd, and who, therefore, must always be pro-
vided with sufficient funds in case of war. Au
reste 1t remains to be seen whether even the ten
millions will save Hamburg from insolvency. Many
people OF opinion that the entire business in that
city is so rotten that no amount OF assistance from
abroad can restore it to a healthy condition.
While even Russia is reducing her tariff of duties
the Zollyeren seem beut upon raising theirs. You
will recoect my account of the Congress that met
here last fall ~ discuss proposed increase in the
duty upon beet root, although by 80 doing the price
of article is increased which at present may be
called, not luxury, but a necessary of life. Ever
since the time of the first Napoeou the governments
of the Continent have encouraged the growth of the
beet and the production OF sugar from that root for
| and clayed sugars from the West Indies BY i'm
posing heavy duties on the latter the reiners are
forced to the beet root sugar, and in conse-
quence OF the great demand, extensive tracts Of land
were sown with beet, which proved lucrative that
the Zollverein thought proper to levy a tax of six
silver groschens (about twelve cents) upon the cwt
of the raw produce. Now it has been resolved TO
raise this tax rs per cent, or from silver
groschens to "a, which. of course will lead to cor
responding rise in the price of the clayed and refined
article, which may amount 10 about half silver
groschen per pound. The government of Hanover,
who demurTed 10 this rate Of duty, aud proposed
still higher hgure, WAS appeased by pro-
mise that after the expiration of three years fur.
ther augmentation should be taken into considera-
ton If the present resolution was approved of by
Legislatures of the different States presented in
the Zolverein.
According to decree dated the 18th, but only
published yesterday, the two Chambers will meet
on the 18th Of January and be opened by the Prince
of Prussia. Nothing certain il known vet about
his journey to England. 10 il necessarily contingent
upon the state OF the Kings health. respecting
which the most contradictory reports in circua-
tion. The marriage OF Prince Frederick William 10
the daughter Of Queen Of Victoria Is 10 take pcc
the 2sth of January. On the lth Of February the
young couple will pass the Prussian FROM
tier at Ak laChapelle and continue their pro-
gress To Cologne. On the 9Th they will arrive
at Potsdam, and make their solemn entry into Der.
lin on the sth. Greatpreparations are being made
both by the municipal authorities and by indivi.
duals for the uminations and other festivities that
are to grace the auspicious day. Lord Bloomfield,
the British ambassador. has ordered some thousand
gas lamps to decorate his hotel, and all the beau
monde are on the tiptoe of expectation.
We have received information from Lissa in
Western Prussia that the incendary who set fire
last summer to the town Of Boyanowo by which the
entire town destroyed and many lives lost has
been found guilty by the jury, after q trial which
lasted three days. and condemned TO DEATH He il
wheelwright, by the name of Rugelt. His wife, who
was accused OF being accessory 70 her husbands
crime, has been acquitted.