Much anxiety has been occasioned this week by the refusal
of Messrs. Aorr]NGuEA and Company, bankers at Paris and Havre, to accept bills to a large amount drawn upon them by the United States Bank. It is not certainly known, at the time we write, whether the American Bank had neglected to supply' their Paris correspondents with funds of any description to meet these bills, or whether the kind of security offered was deemed objectionable. It is said that an immense quantity of post-bills payable at sixty days' sight have been forwarded from Philadelphia to Europe ; and that Horn-swim and Company refused to receive as cash what was virtually one promissory note in payment of another. What- ever the cause of difficulty, it has been for the present removed by the guarantee, it is understood, of English capitalists ; and the Liverpool, which sails this day, will take out intelligence to that effect, as well as the information, most alarming had it arrived first and alone, that United States Bank drafts had been protested in Paris.
If this transactif:n should check the bad but prevalent practice in America of reckless drawing upon their European correspondents, it will, upon the whole, produce far more benefit than mischief.
