Article Text
ver, the son of the king being the legal heir to that throne. We clip the following items from the Times of the 22d. We understand that the officers of the excise have been engaged in taking the stocks at the different large London brewers, which is supposed to be in conte templation of the early production of the budget. The Earl of Eldon yesterday took the oaths and his On seat in the House of Lords. We regret to state that the venerable earl was so infirm as to require to be is supported into the house by two persons; but he is d understood to have declared, that as time was valuable with him, he could no lose a moment in showmg his respect for the monarchy of this country, by sighning forthwith the oaths of fidel ty and allegiance to her majesty. The health of Queen Adelaide, we rejoice to sa D, is better than it has been As a proof her majesty lunehed with the family today, and has signified her g intention of dining with them this evening H The funeral of William the Fourth is appointed to g take place on the 6th of July. It is curious and laughable to read the opinions of the English press in relation to our suspensions. We certainly did set an example of moral dishonesty, that we should have been ashamed of. But, hear the Liverpool Mail of the 22nd of June. For the purposes of internal transactions, paper money may serve as a sort of substitute for actual cash; but when it is put in place of the specie debts foreign creditors, it IS literally of little value. The present American currency reminds us of the flimsy currency of France during the revolution, as well as of that of America itself during what was called the war of independence"-th valueless assignats, and equally depreciated continental paper," being on a par with that which is now introduced. In each case, the substitute for specie was worth about a twentieth part of its nominal estimate. In a few months, are likely to have the same to record of the new American rags. The London papers, we perceive, throw consideraleblame upon the New York banks, for having commenced the suspension of specie pay ments. That these banks have been injudicious in most of their movements we doubt not, bwt it 18 only fair 10 state, that so early as the 2ndo May, one of the deposite banksat Natchez- government bank-had refused to pay specie for a government draft! Thus, if " be worthy of speculation which played the reguefirst, the government bank or the private bank, it IS clear that the Van Buren bank had the start in dishonesty by week The bubble at length burst-the conspiracy revealed itself-the fraud was exposed. The metallic cirexlating medium of the United States is a fraud-ti prosperity of the States is a fraud-i wealth is a fiction-its capability to pay its debts only equal to its inclination, which is an inclination to pay nothing at all. It is a fact. that while the prices of cotton were advancing in Liverpool, and when no man in America dreamt of the reverses in trade which ha since ensued, the merchants of New Orleans, owing large sums in Eng and, having all everdrawn their credits, suddenly suspended payment to an amount exceeding twenty millions of dollars. I was a wilful. deliberate, and felonious suspension. They resolved not to pay, and accordingly, they stopped. They had obtained all they could possibly extract from Eng. land, and they determined to keep what they had extracted, no matter who should suffer or appear to suffer on this side of the water. The merchants, bankers. and traders of New York and other towns followed the examp le of New Orleans, and one universal suspension of payments, one destructive act of insolvency, swept over the whole of this republic lax laws, of demoralizing institutions, of dishonest legislation, and swindling citizens. Speaking of the United States Bank, he says The United States government must recharter the United States Bank. We advocate the replacing of that bank on its former footing, because we think Mr. N. Biddle to be one of the few men willing or able to keep faith with England. Indeed! The editor of the Mail is in a bad way He knows little of this country, to suppose that Philadelphia will ever be again the monetary centre of the States. As to keeping faith with England, we should be sorry if Mr. Biddle was the only honest man in the Union. But all this is nothing to what follows. Look out Americans. We shall have the English navy upon us before September to compel us to be honest. Ha! ha! ha! Upon the whole, viewing this monetary revulsion in the United States as a premeditated conspiracy for the purpose of efrauding English creditors, and seeing, moreover, that the American government, as well as its state assemblies, are lending themselves to the fraud, we think the time is come when the circumstances demand th prompt and energeticinterference of the British government. It makes very little or no difference whether the ship of a British merchant is taken and plundered on the high seas by a foreign pirate, licensed by his government, or whether the property of the said merchant is wrested from him by a political trick, the one act is not one whit more justifiable than the other. In the latter case, as well as the former, an honest and uncompromising government whose subjects suffer this wrong, are bound in duty to interpose. If therefore, the government of this country had any courage, or were irfluenced by any sense of justice, they would forthwith lay an embargo on every American ship in the ports of England, and send out a powerful fleet to seize those in the ports of the United States, and keep hold the same until ample justice is done the merchants and manufacturers of this country by the citizens and government of the republic. However, we excuse the spleen of our brethren in England. They must have some object to vent upon. As we have proved ourselves honest without "kicking," and behaved like good fellows, we presume they will now turn upon the Canadians for daring to suspend, or upon Lord Melbourne for holding office under the illustrious Alexandrina. We give the closing prices of stocks at London the 22d of June. Bank Stock, 2064: 3 per Cent Red, 904: 31 per Cent, 976: per Cent Red, 976 new 3 per Cent. 99 Long Ann. to pire, Jan. 1860, 14 9-16; India Bonds, pm: Ex Bills, 1000/. 33 pm; do. 500/. 33 pm; do. small, 33 pm; Bank Stock for Opg.: Consels for Account, 913. [Correspondence of the Morning Herald.] LIVERPOOL. Saturday Evening, 24th June, 1837. We have had a good demand for Cotton throughout the whole of this week, at the fullrates of the last week-the prices of the lower and middling qualities particularly has been supported. The sales, as follows: 70 Sea Island, at 15d 7,750 Upland, 41d 8d; 60 Orleans, 41d a Sid: 8,160 Tennes see and Mobile, 41d a 7dd 1,430 Pernambuso, 7d 94d: 1,010 Bahia and Maczo, 5dd a7jd; 950 Maranham, 6d a 84d: West India, 8d: 230 Laguira, 5d 71d; 10 Smyrne, 7d: 10 Peruvian, 73d: 490 Egyptian, 71d 18d, 13d: Manilla, 5dd; 3,350 Surat, 2dd 5dd: 600 Madras, Bengal, total 36,410. Of which speculators took about 8,500 American