The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-01-25

favored with better refutaton Of his allegations H.
Vice Consul prepared 10 Offer will feel there
escape the dsageeabe necessity Of believing then
to be correct
AFFAIRS ON THE CONTINENT.
| TRADE OF FRANcE-PRosPECrs or 1858.
! [paris Jan 2, Correspondence Of London Post
The past financial year discovers two important facts
That great monetary crisis can in our day occur in
important country without being felt severely throughsu
the world 2, That Overtradng has been practied 70
ruinous extent both in Europe and America Most Of tn
continental governments at this moment employed
studying how TO avoid future evils Such universal bank
rupy as we have Just experienced touches
in that it is to end in the suspension OF labor and
thus the commercial difficulty soon becomes state qses
creditors of the commercial world to very considerable
extent and may reasonably suppose they will take
share in revising the liquidation which Is taking place.
will probably end in temporary suspension OF some u
the vast railway schemes for which governments the
Continent Of late years granted many CONCESSIONS
demanding millions than the money market can sup
ply without great contraction TO other branches OF indus
ty This is 30 much felt in France that the governnen
ewspapers of late have been urging more attention 70
ag cultura pursuits The Partisan Bourse has no doubt
traced capital from the land to ereat extent
Men who ought to be at home farming and improving
their estates, have rushed TO Paris attracted by 10
cent dividends and Bourse speculations. Such state
things is difficult to conceive in France, where The
owners take little pride in keeling their estaes,
and do not to live on them they can pass their tune
(Psris Jan 81 Correspondence of London rmes}
Commercial people in Paris appear to congratulate
themselves that 1857 has closed without bringing the
| rious endorsements which had been anticipated.
Though business is not very ourishing, they yet
Outraged TO look forward to better times by having
caped great losses All, however, NOT sanguine
II is certain that many Of the bills which fen
due December not paid, but were merely renew
ed and there is still some apprehension THAI the month Il
February will pass as quietly as many expect
That trade has not yet resumed It's former activity
shown instance by the fact of the large specuatcns
the Bourse, which capital is now particularly en-
poyed Before commerce from the effects Of
the crisis through which it has passed the real
| ed 1t is the uncertainty on that head whiok
contributes to the present timidity, and, as
Can be engaged with hope Of On the one hand
TO make extensive purchases Contract
engagements but contents himself with the supply
necessary his immediate wants. while the other,
the holders of goods the merchants and manufacturers,
will not sell at loss long they can avoid it, but con
TIME to exist their capital as they have already done
No failures any amount may take place, but the pro
prieors OF accumulated stores OF merchandise will have
to pass through painful ordeal TIL prices shall have
found their level The facilities afovded by the bank
| will, doubt, enable merchants and manufactu
reIs TO struggle through the dnrcuity but ne
| in money is more favorable. When suspicion o.
uncertainty attaches to credit capitalists prefer in
vestng in government securities hence tie great rise
in the Three per Cents yesterday and for some days
previous When credit Is restored, capital returas
merchandise with which the bonding stores are encum-
bered. Among the measures OF relief a negotiation ID
spoken going between the directors OF the Bank
OF France and those the national discount Offices for
the advance Of 60 00 to the Paris merchants on the
security OF goods in store This advance together with
cents the 22d of last month"; and OF the interest on the
bonds OF the railway companies due and payable
next month, will throw considerable amount OF money
Notwithstanding the fall in the price of grain and flour
within the last few weeks the settlement at the Paris
market ut the end of the year effected easily
than supposed As the country markets have Of late
shown tendency to RISE the mlers refuse to any
further and choice samples Of flour held
at 5Sf the sack OF l5z kilogrammes Not much change
observable In the provincial markets. In the northern
districts slight rise has taken place and the others are
| more firm.
The only intelligence worth notice from the departments
is rise IN the price Of sugar at Bordeaux, Havre ans
Lille and similar advance silk in the Southern
markets. few orders have been received at Mulhouse
from Paris for printed cottons and stus Trade dun
at Rouen, but Improvement expected in the course
| Of the month.
The demand for wine has been checked at Bercy IN
consequence OF the considerable arrivals by railroad
Prices however, have not varied. Brandes unsaea
bic In consequence of want Of orders from abroad.
The Moncur Tnicote states that very little business
now doing in brandies and that prices have generally
downward tendency. The wine trade is also wthou<
much animation but, with some few tring exceptions
prices maintained AT Bercy stocks still unusually
large and arrivals continue but purchases by the trade
| are confined TO the supply OF immediate wants
AFFAIRS IN HAMBURG.
Hamburg dec 3 Correspondence OF London Chronicle
The agents Stockholm the part OF a numerous
nesfs x4oo ccoehaye written 10 their clients 70 saw th.1
their proceedings have hitherto been fruitless
proposed in the meetings that took place Stockholm and
other commercial towns Of Sweden that the Hamburg
dtors should be paid within two years. with interest q
the rate OF six per cent ba guantee being given 10
insure the fuldment Of the engagement the creditors
jeoted the proposal There 70 fear THAI
OF Swedish houses who up 70 shs time only state
Of suspension win be obliged to file their balance shccss
and formally declare themselves bansrup,s result thai
will not at all improve the financial situation OF our
| market
The Norwegian houses generally exhibit great eagcr
ness 10 forward remittancs for their merchandise md
bills to Hamburg, ~ far as their means will allow. Ths
last steamer, which left Chrissnia the 3d. brought
specie 70 take up bills discounted by our bankers
| and returned protested.
Of discount banks has Just supplied the Bank Of Ro
took with ESQ 600 for year at six cent and two py
the audabe motive Of Sustaining the credit Of hts TIVE
ports did not hesitate " give bank mortgage hss
| vast private domains as security for the money
STILL have perhaps been too hasty In believing the
crisis here 10 be SIX more failures have been
rounced within the last three dsys some Of them with
very considerable liabilities Those, indeed, Of house
largely engaged the export Of German manufactures
the Brszs said TO amour, to nearly 100000 Our
merchants locking with great anxiety for the arrival
Of steamer which may bring back from the bra
zils dshonored bills 70 very alarming ogure.
FINANCES AND FAILURES IN pySMARx.
Copenhagen ec si) correspondence Of London News
| We have had commercial crisis here a. elsewhere,
| and unfortunately cannot yet be consider
ed at an end The commercial relations Of Denmark with
Hamburg Of extensive nature that any blow that
falls upon that city must reach also MOI only Is the
largest amount Of our EXPORT articics-oorn and prov
sionssod through the mediation OF Hamburg houses. but
our merchants have freely, perhaps too freely, awaited
themselves OF the credit offered by the Hamburg bank
ers while on the c,he~ hand Hamburg merchants have
through the medium Of bankers cssbshed here avaIed
themselves OF the credit OF the DANISH National
Bank Thus, in addition TO the bills arising out Of
the actual transfer Of goods, number Of other bills,
based other security than that Of the con
ndence enjoyed by the houses whose names were a.
tachcd TO them, Ia circulation and you may there
fore Judge OF the result when this confidence SD
denly shaken Our merchants have made almost super
human Efforts 10 meet their liabilities Of the largest
and weahiest firms having, Is said sacrificed even W
their last penny in order 20 avoid bankruptcy hut even
these efforts together with The remedial tskeo
by the government, have been insufficient entirely 70
avert from US the calamtes that have during this year
fallen SO heavily upon almost every commerci, commu
ny yet among tho failures that have taken place IN the
course OF the present month"; there have not until WHINE
the last few days been the names OF any OF our more en-
tensive firms now, however the Of the great ana
respected house Of Hskar % has been added 70 the
number OF the less important failures and today ru
mored that another considerable 6rm that OF Heiemsnns
| has followed.