The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-05-22
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EUROPE.

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EUROPE
The steamship Cuba from Queenstown on the 18th of
May reached Halifax yesterday afternoon on her voyage
% Boston. Her is days later and of highly
important character
The financial fever which agitated the London Stock
Exchange in such unhealthy manner for few weeks
before had eliminated in a most disastrous, unprece.
dented money panic which produced in wcnty-four
hours failures and suspensions involving over eighteen
millions OF pounds sterling almost total suspension
OF business in the great centres of commerce. bound
less dstrust in the public mind tho suspension Of the
Bank Of England Charter act and advance
OF interest to ten per cent The houses Of Overend
Quincy Company Sir Morton Pcto and others were
closed. and contractors and spectators 'by the
board ali Sides from the 9th to the 18th of May
Scenes OF excitement almost tumultuous took place
in Lombard street At the latest moment failures
were spoken Of in Liverpool, and the name of a
house swell known in the American trade, was
t'frcely" mentioned
The Bank Of England raised lis rate of discount TO nne
per cent the 11th of May and the 18th instant
advanced to ten per cent The bullion the Bank
soils closed in London the 18th Of May at s61. sex.
There nothing doing in American securities on the
18th instant the distrust which existed in lnanc al
circles checking operations United States FIVE twentes
were tnominally) at go o5 Thore was a general i'm
provement in all descriptions Of securt the 18th
instant, and the ivs-twenties were ut % a o.
The German question regarded as on ths very
point OF war although hopes Of Congress we're still en-
terained in quarters Prussia had massed her en-
Giro army on the frontier Austria had called cvcry
soldier Italy was mos! energetic in her prepare
t.ons, Bavaria had mobized her army, Turkey was
about to take the step and Russia reported
moving portion Of her forces Napoleon delivered
most significant speech at Auxene which he said be
detcstcd the treaty Of 1878 The words regarded
az ''sisnal" for war; An attempt had been made to
assassinate Count Bismark in Berlin.
The United States Minister in Vienna had protested
against the march OF Austrian volunteers for Mexico
Some Of the newly raised companies were dsbandcd in
Consequence. Others had entered the Austrian army
The Liverpool cotton market recovered from decline
which existed during five days. the 10Th of May and
nrmer at advance Of onehalf of penny Bread
stus were quiet and nrmer Provisions dull and down.
ward
THE SPANISH FLEET AT CALLAO.
BY the arrival yesterday morning Of the steamer
Arizona from Aspinwan on the 18th inst, important
intelligence has been received from the OF
the south Pacific The Spanish feet under Admiral MI
hez its way to lombard the city Of calao Peru
badly beaten by tho shore batteries in the harbor the
vessels shattered and Nuhez himself wounded.
The feet according the accounts OF correspond
en,s, reinforced by tho frga,c Almanac, raised the
blockade Valparaiso the l4h OF April and steamed
for CsIao. The American squadron, under Commodore
Rodgers followed the day. for the purpose OF pro-
tectng neutral property In II should be the ntcn
Of the Spanish Admiral to lombard that port On
the 2st Of April the feet found itself lying OF tho har
Dor OF CelIao.
The nrl intelligence OF this movement received by
tho Peruvians Caao by the English mail steamer
on tho same day tina, tho dreaded visitors arrived The
or alarm erspcd but Il subsidized IL became
that the Sparisrcs did not mediate attack that
day On the next day, however, formal notice given
the city that the Spanish feet was then TO operate
against IL and tina. four days allowed for the re-
moya Of non.combsan,s and foreigners The greatest
activity was then manifested for the removal OF the pr
va'c property Of citizons
Blu, tho dcfcnccs OF callao were quite formidable and
attempt determined upon beat on The spaniars
The Peruylans evidently dreaded the heavy weight Of
metal that the Spanish fee, could throw a, ,hcm and
looked forward 10 the issue doubtful Blu, they went
manfuly 70 work. throwing up earhworks preparing
Cor the combat system Of ,eegrsphing extended
80 all the batteries and TORPEDO boats held In readi
ursa fsr usc u available.
The of MAY being fogry the attack postponed,
al "a "a 81 The grand tgi Of strength commenced
~, e sao,c L.llse, &c nrc bSng returned by the
n,sr eusIa villa dc Madrid aud Blanca the north
ems e. nat tho Numancia, Resolution and Almanac
th, south Tho villa dc Madrid aud Berenguela so
badly damaged early n the night that they were obliged
70 withdraw TO San Lorenzo and they we're afterwards
followed By the Numancia and the rest OF the hce' more
or less damaged.
The eight lasted I'LL four o'clock In tho afternoon; then
q terminated by the withdrawal Of the Spanish feet
sixty p~uvlans are reported killed and one hundred
Mad twenty wounded senor Galvc., the Secretary o.
war was killed. The fcss Of the spaniards Is no
known; bu, Is supposed TO have been heavy III
rsmored that Admiral Nuhez IL severely wounded
After going the feet resumed their old position
and commenced repairing. The future movements o
the defeated feet not known but Il is presumed, IN
view OF The approach Of the Huescar and fndspcn
dsnca added this formidable disaster that lie early
return 70 Spain win be effected, " possible
CONGRESS-