The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-05-31
IMPORTANT NEWS FROM THE RIVER PLATE.

GREAT COMMERCIAL PANIC IN BUENOs AYREs AND
MONTEvmEo-LIsT or FAnUREs-PRoBABILITY OF
PEACE BETWEEN BUENos AYREs AND URQUIzA-
DEATH OF THE Son OF SIR WILLIAM GORE OUsE-
LEY.
By way of England We have received advices
from Buenos Ayres to the 4th, and from Montevi-
deo to the 9TH Of April. The news is of unusual
interest and Importance.
We learn that the commercial panic in Montevi-
deo and Buenos Ayies is the severest that has ever
been felt in that region. The paper of the best
houses, that is, of the few yet left standing is alto
gethcr unacceptable at almost any discount Mon
tevideo had suffered good deal less than Buenos
Ayres, though still the extent and variety of the
engagements of the great establishment of Lafone,
| brother of the same who failed in Liverpool a
couple OF months preceding, bad created wide
spread difficulties, that are but nadequately repre-
sented in the nominal amount of the liabilities,
100000, making half million sterling with those
of the Liverpool branch.
Mr.. Samuel Lafone, of MOntevideo, like Mr.. Alex
ander Lafonc of Liverpool is to be allowed two
years to wind up, under trustees himself managing,
and undertaking to pay in full, with per cent inter
est in the interim dividends to be declared as fast as
10 per cent the amount Of the debt shall accrue
1t is very difficult to account satisfactorily for the
failure, and the general belief is that il has arisen
from loss merchandise, exactly from reaction
of the panic in Europe but from desperate ventures
in exchanges and from inudicious loans, including
some to the Monteyidean Government who are in
utterly penniless state, with enormous obligations.
Still, with peace, and an adequate administration
/
! the Uruguayan Republic such is the substantial
prosperity of the country its extraordinary natural
! resources, the multitude of emigrants that keep
fiocking in from all parts OF Europe and many from
Australia, and the extreme productiveness of the
great staple sheep, oxen, and horses that there Is
no doubt the tide would speedily turn, and CONNER
cial prosperity equal what attends cattle-breedng
! in the interior.
! As regards Buenos Ayres, not only has the great
! North American house of Zimmerman, Frazer Il
Co., of forty years standing who to the left
| bank what the Latones were to the right bank of
Rio Plata, failed for very vast in those re
| gions, where monaires do not abound, but also
the following, which include the first and wealth.,
! est houses in the Argentine Considerations
Messrs Bunge, Bloomfield Co., Van Jeuter &
! CO., Croker, Hall & Co., Hugentabler & Co., A.
/ Blank & Co., Storpp & Co., Jacobs & Co., Remer
! del Sar & Jeubert, Laman Bros, AdOl Van Pratt,
Greto Co., George Dowdall, and others of less i'm
portance besides some ofthe large wholesale grOcers
The liabilities are very great, and it was feared
that the windingup would exhibit most disastrous
! result. 1t was thought, at the departure of the
/ packet for England, that several German houses
| were on the point of succumbing.
The most favorable item by this arrival is, that
the peace of the Rio Plata did not likely to be
seriously disturbed. The threat of UrquiZa, head
of all the Argentine Provinces except Buenos Ayres,
toward the latter Province and city, had passed off
without causing much alarm, more especially the
reconciliation between Paraguay and Brazil had
rendered the latter power less dependent Urquiza,
who would have been invaluable for land operations
against the former, had the rupture proceeded to
military extremities. Paraguay has lately made
large remittances to England in gold, instead of by
, drafts on the English branches of River Plate
houses, that have since failed, and thereby the cof
fers of General Lopez have been spared considera-
! bic arrangement.
! The death of Mr.. G. Ouseley of Mr.. Gore Ou-
seey, had produced extreme grief in the Presidents
family, as he most intimate friend of General
Brgadier Lopez, of the President, and had been
| with him during his tour in Europe some few years
ago, well having long resided at Asuncon. Mr..
Ouseley the point of setting out to join his
| father, and act to him Secretary during his mis-
! sion to Central America, when he siezed with
! fever, and died in the course of couple of days