The British Queen encountered most tempcetuous weather on her last
homeward voyage from New York, which lasted twenty-two (leas. One day, December 3d, she only made 52 miles; the report in the lug being—" violeat gales, with tremendous sea, ship labouring deep." lIer best day's sailing was the 23t1 instant, when she made 2-10 miles. Site brought Softy passengers, and half a million of dollars.
The signature of Baring Brothers and Company attracts attention to the following letter, published this wesht-
6Tite late loan mastic by the United States Baud: for about two years, and for SORtnot. on deposit of Pennsylvania end other State Stork, at.a price which gives 10 per cent. annual interest to the subscribers, shows what rate of interest must be paid to obtain any amount at' money on the best American securities, and serve., therefore, as a guide to capitalists here for their purchase of State Stocks. We quote the last prices of the priuuips1 securities at which business has been done, but must add, that even at these rates oily small and occasional sales are practicable. The continued fell in their valite destroys speenl•ition, whilst many years will he required for real investments to absorb all that is at present in our market. We d t not doubt but that sauell :•radual pareha,es will continue of the storks of well-known e;; etc, which do not over- issue, and which faithfully meet their engagements to their creditors, 1;'• the continence in the remurees and national limmur of the United States remains undiminished in tide country, as well as the conviction that by such invest- ments _England employs her annual surphis of capital bath cal iv and profit- ably, encourag.es her best customer, and binds more closely the tics of mutual interest between ti : two countries. Bin if the out scheme of the internal im- provements in the Union is to he carried into effect on the vast seale and with the rapidity lately projected, and by the name of foreign capita!, a more com- prehensive guarantee than that of individdwil States will be reipiired to raise so large an ;Intone in a short time. A 0 itioual pledge would undoubtedly collect capital together from all parts of Europe ; hut the forced sales of loans made alparately by all the inilividnil States, in reckless competition, through a manlier of channels, render the terms mere and more oneruts for all, lower the reputation of American credit, and (as reliance is almost exclusively placed on the London market) produce temporary mischief here, by absori4 ng the float • big capital. diverting money from regular business, deranging hanking opera- tions, and producing au unnatural balance ut' trade against this country. It would seem, therefore, as if most of the States must either pause in the execu- tion of their works of improvement, or some general system of combination ratot he adopted. " All (corporation Stocks arc neglected ; nor do we hear of any transaction in Bank Shares, excepting those of the United States Book. " We have the honour to be your obedient servants, " BARING BnoTunns and Co."
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