Polynesian. [volume] (Honolulu [Oahu], Hawaii) 1844-1864, 1862-07-26
No. Is.

sss in SPECIE for 800 in specie obtained when paper
and specie were at par.
We copy from the Bulletin of the 9th inst the fol-
lowing, as throwing some light the condition of
things, commercially, in that country:
In passing to other items of teegraphic news, we
struck first with the rapid appreciation of gold and
the advance in Sterling Bills and in casting about
for the causes of this ucuation, nothing is apparent
save only the projected increase of legal tender notes to
the extent Of 81 90 100000 bill to that pur
port having passed the lower House of Congress.
Whether this be sufficient account for the surprising
result advised, in the very face of the Revenue Bill
which has been looked forward to the great bulwsrk
of National Credit our readers must Judge. We can
hardly regard it. but must believe that other causes
have been operating, which, in the brevity Of tele
graphic communication, not disclosed In this
nection We may remark that sudden and somewhat
important decline had taken place in British funds.
COnsos had receded more than per cent. within q
week and from regular advces learn that the
abundance Of the British money market giving
place to some indications Of strngency, and sdvsnce
in the rate Of interest. An exchange paper says
Applications for discount very heavy, not only
the Bank and in London. but throughout the country
Merchants in England do not wait. do here till
pressure comes upon them, to seek money but upon
the first appearance of any probability of q corner,
crisis movement, rush into the discount market at
once, and lay ample anchorage to the windward This
demand attributed to the Turkish and Russian
Loan payments, but to underlined fear of great
political movement being about to occur-some casting
by the unfathomabe Napoleon Another paragraph
in the paper speaks Of uneasness in regard the
American question: tending to restrict loans, and
stifen the pockets of capitalists. The existence Of
speculative feeling is also alluded to leading to the
same result. We unable to judge fully of the sig
ncance of these circumstances but deem it proper to
lay them before readers. They may indicate one
of those merely ephemeral changes which not nnfe-
queny arise from causes purely ims ginary, and
next reports may exhibit of them In gancing
at other points of interest presented in commercial
advices adapted to affect financial matters in great
er or less degree, we may ton decline in breId-
stuffs and considerable advance in the price of cot
ton. Upon these two articles large amount of the
foreign exchanges Of the country is predcated Al
though but small portion of the latter is usually dis
patched from northern ports yet the great volume of
bills drawn against it centres there for negotiation and
reexchange. Such the case last year. but it is not
so the present year. The crop has not beeI moved.
Of the bills have not been drawn, and their ab
sence in Eastern markets is now felt to be serious in
convenience. Says leading New York paper: The
necessity of opening the southern ports for the ship
ment of cotton tobacco, and other articles Of southern
produce, in order to keep our foreign exchanges in
safe condition. Is becoming every week more apparent
The advance IN cotton is not favorable indication, and
yet advised of demonstrations of loyalty at New
Orleans, showing very marked and gratifying change
since the date of previous intelligence The incon-
gruty of these two statements cannot EXPLAIN but
W0ateVef
last years crop, it may be true stated that the
planting of the present year has been upon greatly
reduced scale. 1t may also possibly be true that other
editors have been placed in charge of the New Orleans
Bee and DeLd of whose new hedged loyalty the tele
graph informs u.s. by General Butler himself in lieu Of
those expelled by him. and for the express purpose of
teaching the rebels sound doctrine nOlens volens.
These and other points must be cleared up before
we can arrive at satisfactory conclusions In regard to
breadstu observe that the arrivals in market
I lOffh
crop had greatly improved, promising another abun-
dant Weld the demand for export had fallen off
freights to Europe declining. From England and
the Continent advices of the growing crop in the
rious grain districts of the Old World exceedingly
favorable The years of dearth had, apparently, been
succeeded by year Of great plenty As yet. however,
it too soon speak with any degree OF assurance
but should expectations be realized, grain must inevi
taby rule low and its value in our schedule of exports
figure much beneath the aggregates of the preceding
wear An Eastern writer says: IF Europe has an
average harvest this summer, the large exports of
breadstus and provisions have been enabled to ship
for the last two years. owing to deficient crops there
must decrease seriously after July, and this change in
our foreign exports will aggravate dangerously the
foreign drain Of SPECIE because our imports promise to
be larger than those of last year.
The following private dispatch from A. A. Sargent,
member of Congress, dated Washington, July lst has
been received here (San Francisco): "The Senate
Tariff Bill has passed the House unchanged. The duty
may be changed in Senate Warehousing privileges
extended for one year"
Europe-Dates to 18th Jane.
In Italy, Victor Emmanuel is following up his voyage
to the South by passing to Sicily everywhere
received by the lvelest sentiments of affection and
trust.
Nothing yet decided upon as regards Rome. Great
difference of opinion is said to obtain between the ad-
| r
aties, it would more cOmport with the dignity of the
Pope to leave Rome or to remain. Plus TX. has per-
sonally pronounced in favor of the last. Should the
first alternative prevail it appears that Wurzburg will
be the choice of residence.
Francis H., ex-King of Naples, is very sick with the
small pox.
The rumors of the approaching evacuation of Rome
by the French constantly gaining in consistency
and strength.
1t is thought that the meeting of several hundred
Catholic Bishops and Prelates at Rome, in the month
of May, had not solely for object the canonizatOn Of
the Japanese Martyrs but that the present state the
Church and of ChrstendOm, and the peculiar position
of the Pope would receive the careful and thorough
consideration of the representatives of that Church from
every part of the world.
The news Of an offensive and defensive treaty between
France and Italy is confirmed.
The Vice King of Egypt arrived at Rome on the Sth
of May. and at Msrseiles few days after.
The gambling houses and lotteries at Wisbaden have
been prohibited.
Instructions had taken place in several places in
Pd}>pgal. but been suppressed
In Ashton, England, town represented in Parlia-
ment by Mr.. Miner Gibson. of the Cabinet Minis
ters public meeting had been held for the purpose Of
pettonng for the recognition of the Confederate States
The meeting moved by the manufacturing districts
of the country and looked upon opening the ball
for others in the same direction.
The Archduke Macmillan, in q letter to the Empe-
rnr Nanoleon has declined the Mexican throne