must be avoided. Neither an expansion of the currency

THE EXAMINER.

CS MEP

en cme

“News by the last English Mail.

' ‘ [From Willmer and Smith’s European Times. ]

THE FINANCIAL PRESSURE.

The unmitigated pressure in the money markets,| with the accelerated decline in the prices of breadstutls, continues to preduce a state of confusion and insolvency | throughout Great Britain and Ireland, to which there) has been ne parallel in our memory since the eventful | years of 182543. The fall in the price of wheat, fron| its highest point in May, is now not less than sixty | shillings per quarter. Such a violent revulsion of prices) has spread <ommercial ruin fur and wide. At — its effects ere limited to the corn trade. We wish that | the losses incurred could be confined to that branch of fbusiness‘alone. But no fewer than fifty-three insolvent petitioners, and twenty-four bankruptcies, were an- mounced in last Friday’s Gazette. Having forseen the »present convulsion for some time past we feel it our duty to state, not with a view, we repeat, to micrease the alarm, but still to urge cireumspection in mercantile -dealings, that a considerable period must elapse, and greater sacrifices, the accumulated produce of years of industrious labour to thousand must be made before we can hope to see the commerce and manufactures of the country restored to a healthy and prosperous condition. We are emerging from a state of famine ; the exhausted body commercial, like the human frame, becomes, in such a state, acutely susceptible of the evils and ma-| ladies incidental to both. ‘Io a state of prostrated| strength, a high inflammatory paroxysm has succeeded ; repletion hzs followed depletion too rapidly ; numbers have already sunk under the transition, and the sound- est mercantile constitutions have become the readiest and most unprepared victims. Perhaps, in the existing distress, the only alleviating measures which should be applied are those which will produce calmness of mind and unclouded judgment to enable us better to cope With the emergency. Atany rate, violent expedients

‘Norareturn tothe old protective duties would be fit edies for a restoration of our financial and commer- cial condition. The measures proposed to be adopted by the operative spinners of Lancashire, still further to Jessen the consumption of cotton and the production of goods, indicate but too plainly the only effectual course by which a return toa healthful state can be accom- plished. A special delegate meeting of the operative spinners was held at Manchester on the 29th ultimo, and a series of resolutions agreed to, setting forth in respectful and forcible language the long-prevailing distress, which is ascribed to the high price of the raw ma- terial,the dearness of food,aggravated by an unprecedent- ed demand for money for railway extensions, and a conse- quent crippling of commercial credit. The meeting declare that they apprhended, on account of the con- tinued disproportion between the prices of goods and cotton, and the stoppage of mills, that severe pres- sure will still have to be endured both by the capitalist and his work-people. They accordingly voluntarily suggest, that to mitigate the evils yet threatened, that they should suspend operations in all the cotton mills for a few weeks during the present mild season, when other employment may be obtained, in order to avoid the greater calamity and the privations which must re- sult if thrown out ef employment during the ensuing winter. The operatives have forwarded their resolu- tions to several influential public men, assuring them that no effort shail be wanting to bring about a satis- factory result, in a manner respectful to their employers. ‘The course thus suggested is a most painful alternative; but no doubt can be entertained but that it isthe least objectionable ofa choice of evils. We sincerely trust that the duration of the present distress will not be protracted. The melancholy catalogue of failures dur- ing the present month, is truly startling. It is compu- ted that the actual liabilities of the firms stopped pay- ment exceeds five millions sterling ; and taking into consideration the large amount of losses incurred by those numerous stable and wealthy houses which haye stood their ground, the total amount of losses must be enormous. ‘The failure of the house of Messrs. W. R. Robinson & Co. created considerable excitement, not on account of the amount of their liabilities, which do not exceed £140,000, but because the head of the firm, Mr. Robinson, was the Governor of the Bank of England and Chairman of the Russia Company. Six governors of the Bank of England having stopped pay- ment of the nine who have occupied the chair during the last 18 years, the occurrence has aimed a heavy blow against the management of that establishment. Very pointed remarks have been made by our London contemporaries against the unfitness of Mr. Robinson for an office requiring enlarged experience, greater ca- pacity, and personal importance, but we forbear to re-

peat them ; however we concur entirely in their correct-| Rob

ness. Mr. Robinson’s chief business was in the Norway and Baltic trade, and the success of the house in corn transactions last year has led to the present catastrophe. Another house, better known on the continent, created no less excitement by its suspension—Messrs. Castel- lain, Sons, & Co., the chief of which was Belgian Con- sul in London, had extensive connexions in Germany and Flanders, and a considerable banking business with

divided amongst their American and At

| By a semi-official statement publisaec, er air eaetere

|Lesley Alexander & o., their estate,

for their funds at sight, and the house | of wolves, ‘0 Milan, to be waa ‘tng oe gold, alarmed, and drew for t° ake sieht it prudent tolif the specitlation should seem like y to) the . being under other ee. : should be rateably | trian Minist or an ade quate return. © So it was in Galla- stop payment, so that their ores a aaieadl creditors, |cia; so, (if udged expedient) it will be in the Papal a of the effairs of | States. ie 2) “ Domestic fury, and fierce civil strife, Shall cumber all the parts of Italy: Blood and destruction shall be so in use, And dreadful objects so familiar, That mothers shall but smile, when they behold Their infants quarter’d with the hands of war; All pity chok’d with custom of fell deeds: And Cesar’s spirit, ranging for revenge, With Ate by his side, come hot from hell, — Sha]] in these confines, with a monarch’s voice, Cry Havock, and let siip the dogs of wer; That this foul deed shall smell above the earth With carrion men, groaning for burial.”

Yes, the Austrian is marching into Italy! The ally of Russia—the friend, the coadjutor, the accomplice, the dupe, the victim of Russia—the hand that Russian sagacity thrusts into those bloody and filthy deeds which she cannot conveniently oe - her own —

he tiie a i ’ ‘as again|Person—the Power which but lately strung together mien sar Shae Gene ‘edection, beitnan = carcasses of men 9 a ee vo bY us down to the present rates. In Liverpool the fluctua- the —— sober ae" 7 1 ws sate ade to hb aaa tions have not followed the London markets so invaria- ee gn re ea) coal ac eae bly as hitherto, perbaps for the reason that the depres-|'€SSness oF the most diabo e y

sion of prices has been less extensively disastrous here Cant of the most diabolical hypocrisy—the Power which

thanin London. Indeed, during the week succeeding Presents to = world . 7 ty Ma eae ao oo the 16th ult. prices of American flower rallied a shilling conjoined, in the ae 1 nats ae CG a * a. h ey two, but one or two failures in the trade occurring, |®5 he approaches the judgment-seat © vod, steeps his ee : ‘og grey hairs in human blood, and makes his black soul prices again gave way. During this eventful period i ang tg prem te Beep sheen ginal tale the weather, with intervals of some iuterruption, has ; ae Gertie = oo aioe ai ene been splendid for gathering in the harvest, which, as om fittest S aoe tnees ean me 7 Aw ie far as it has proceeded, bids fair to be an average for|>!™, but to ; a y a ee An a omage, he wheat, and fully an average one for barley and oats, | carefully an . ae J Seanad se Some endeavours have been made to creat an alarm for| Yes, Metternich is coming —) Sief the failure of the potato crop, and in this neighbourhood SPeRt so on = cea his Sau wpier we have seen instances of disease ; but, comparing al] beg dungeons ; after having wg ttn Bie skin the various accounts which have reached us from Great "0t only by his earlier deeds of an but oo = a Britain and Ireland, we are of opinion that, however, in CM! massacres—now blinded by the Devil nee particular instances partial damage may eventually arise, aoe served, - mare - Southward to fig . em upon the whole, it bears not the most remote comparison | elgg ee and a second tline to pierce with a lance with the destruction of the past year, and in Ireland the “he Son of God upon the Cross. abundant cultivation of other esculants renders any par-| Yes, Metternich is coming Southward! Foot, horse, tial damage quite of secondary importance. In Indian 2"4 artillery —troops hurrying by forced marches—pre- corn the losses to importers ‘will be enormous. ‘The |P#¥e to assault not Ferrara alone, but other cities of the price of best Indian corn in Liverpool is not higher than|?apal States. From Vienna comes the watchword, but 283. to 32s. per quarter of 480lbs. This article has|#e effective command has reached Vienna from a ee been in extensive demand for feeding cattle, and large [northern capital, Austria is wasing up to her neck in quantities, damaged, we know it to have been taken for|?!00d and guilt—to do what? ‘To make for Russia a purposes of manure, at prices below the current value of | !!g2Way into Italy. She is the jackal! of the Northern nano. Autocrat. Herself weak, and destitute of all moral

which was ex-| pected to divide twenty shillings in the pound, : il "ial realise more than eight shillings. The acceptance o | iC atts ¢ ssrs. Overend, Gurney, & Co., |

the American drafts on Messrs. Overend, cal after remaining so many days in suspense, has relieve | the mercantile world from a load oi anxiety. COMMERCIAL AFFAIRS. |

Our Corn market, since the 19th ult., has eee again a serious decline of prices. I'he top price wy 1€ | best description of wheat was at that time quoted at about 67s. to G8s. per quarter, the same quality will not command at this moment more than 55s., whilst the best American Flour in Liverpool barely sells at 25s. per bar- rel. On the market day of the 16th ult., prices in Mark- lane fell about 2s. per quarter. During the week suc- ceeding a fall of 2s. or Js. more took place; on the 30th a farther decline of about 5s. to 7s. was established; and

Yjhave commenced with the city of Ferrara,

The state of trade throughout all the manufacturing districts of the United Kingdom is gloomy and unsatis- factory. This remark applies both to cotton and woollen fabrics. ‘The late accounts from India—the stringent and unaccommodating character of the late movements | of the Bank of England, in enforcing 54 per cent. for discounting paper of short date—the numerous and heavy failures which have taken place in the corn trade, and | rumours of the re-appearance of the potato disease, have all tended to depress trade in the districts alluded to.| Our usual monthly report of trade in and around Man-| chester will be found elsewhere ; and the accounts from | Yorkshire show that the trade in the Halifax Piece-hall is duller than usual, scarcely any goods finding purchasers, The Yarn market, also,has been decidedly flatter through the last week; though the low rates so long current, not being equal to the cost, prevent any giving way in price. As to long Wool, the staplers are anxious sellers at old prices; and short Wool remains without altera- tion. A better prospect seems to be before the manu- facturers of Woollens in the Huddersfield district. The most recent advices from Leeds state that very few goods are changing hands at the Cloth-halls there. At! the same time more activity is expected, and prices re-_ main steady for every description of Woollens,

(From the London Tablet.) THE NEWS FROM ROME,

Events in Rome are hastening to some sort of catas- trophe. God knows what form that Catastrophe will assume, but, at all events, what we have now seen is only the commencement of something more serious. It

their operations to the Papal States. In Ferrara thev| commenced with the citadel. In the Papal States they

they end there? Does any one suppose that their work | is done, that their design is accomplished by the occu-| pation of this one city? No; no. What is now takine place is only the beginning of troubles. Metternich’s bloodhounds—the ferocious instruments of the Austrian

obespierre—once let loose beyond the Po, the most terrible deeds may be expected. How much crime ma be found necessary for the accomplishment of his guilty | purpose God only knows. What man knows is, that aad

ae treachery, however base; no deeds of blood, however | rightful ; no massacre, on however great a scale: | vate assassinations, the throat-cuttir

cutti men, and children—al] will be ing of women,

America. Having lost £26,000 by the failure of Fraser

& Co., of Antwerp, German depositors in the bank grew sackfulls and cart-loads, will b

eding heads of men,

is not without a design, fixed and far-reaching, that the |her mi murderers of Gallacia have transferred the scene of have

y sent horses and chariots and an army, to

; pe |Ealestine-—thie same Lord wil] old |ternich a more difficult and u I used and welec i i

judged useful; and that the ble on eae wit Sollee Meakasael a

force, subsisting only by virtue of old traditions and the want of combination amongst her subjects, sapped and undermined by Kussia on her Eastern frontier, she is labouring to earn for herself the execration of all men, before the time comes to subject her to the blessings of a new partition. Yes, that day will come; the Avenger of blood is on her track ; the deeds of Gallacia will be avenged and punished; Russia will eat into her side, and spoil ber of her substance; and against that day she

‘is laying up for her defence and protection the curses

of men, by this perpetration of crimes in broad daylight, no less than the judgments and chastisements of God. Yes, Austria 1s marching Southward—but whither? To what exact point? How far south will she pene- trate? Heaven only knows; but this we think not very doubtful—that the farther she advances the heavier wil} be the retribution that awaits her. Whence that pun- ishment will come—not being prophets—we do not pre- tend tosay. At present the coast seems open to her, and the men who rule her cabinet no doubt think they have caught God asleep, and chuckle at the thought of outflanking their Creator! " Everything is open to them. France, sunk deeply in her own disorders, dare not, it seems, repeat the seizure of Ancona. She too has committed crimes and begins to feel the penalty; she too finds troubles rise up against her and within her, as the direct consequence of her own misdeeds ; and, like all conscienceless persons, she too thinks to avert the inevitable consequences of

her own guilt by sharing in the complicity of another’s

crime, She, tottering beneath the weight of her own transgressions—filthy corruption eating out her heart; Spain, Poland, Africa, haunting her with the ghosts of

sdeeds—seeks to patch up the rent which these made in her garment of royalty by selling herself

for a little countenance and favour to even werse crimi- nals than herself.

But will cannot interpose in Italy ; eannot do otherwise than ac-

France, wishing the help of Austria,

‘quiesce in what Austria is doing. So that for the Croats who have seized Ferrara, a free passage is open. The

may be encountered by a few protests—a few skins of

parchment—and then—what next ?

Why then—GOD! The same Lord of Hosts, who, when the King of Syria

" 4 fi s crime will be spared which is thonght necsanenys thn re and horses of fire; the same Lord, whose Angel in

that Austrian regiments

€ carried, like the heads|it became Papal it has been tal & out in siaek

=.