The intelligence from the United States, brought down last week
to the 29th of October, now reaches to the 7th instant, New York papers of that date having been brought by the packets ship Patrick Henry. From the letter of the Morning Chronicle's Philadelphia correspondent, dated November 1st, we select some items of American news-
" I wish I could transmit you the glad tidings of a brightening prospect ; but I cannot, though I hope the day is not far distant when the monetary and commercial gloom that hangs over the United States will begin to clear away. At present, however, there is certainly no sign of so gratifying a change. We were beginning to get reconciled to our condition, when the arrival of the news by the Independence from Liverpool once more threw us back. Stocks fell to an nnexatnpled extent, some of them receding 8 and 10 in a few hours. United. States Bank went down in New York, on the following day, to 65, rallied again to 67, and has continued fluctuating since in so extraordinary a manner, that it would be quite absurd to give you any positive quotation as authority worthy to be relied upon. A large and very respectable house in New York, who gave their notes to the 'United States Bank sonic months ago, for ex- change to go to Canton, which exchange does not mature in Eeetand until April or May, have obtained an injunction against the Bank in Iltrour of not paying the salt notes until said exchange fills due, and has been shown to have been duly paid. On the other hand, the friends of the Bank do not desert her in extremity, but contend that site has ample means in Europe to pay more than double her liabilities ; but those means being chiefly in stocks, are not available in the present state of the London money market : besides which she.is said to have sent out from 500,000 dollars to 1,000,000 dollars of specie by the Great Western, and 2,000,000 dollars more of Pennsylvania State Stocks, to meet emergencies. Real estate is yet offered, in a dozen instances, for United States Bank Stock at pail—the estate to be taken at a valuation. Surely, then, there is confidence in the solvency of the institutions in respect- able and wealthy quarters. Indeed no man doubts it here ; though it cannot be denied that, either from bad management, a due want of foresight, or cir- cumstances impossible to have been anticipated, she has got into a temporary embarrassment likely to prove permanently injurious. Iler claims and col- lections in New York are large (say 3,000,000 dollars) within uo very long period ; and, as is matter of course, she continues to drain more or less specie, while it is well known—at least it is everywhere said—that the millions in her vaults are increasing rather than diminishing. It is right, I should here add, that I have already scut you the last public return of the actual state of the bank ; and the assertion that she has now from 4,000,000 dollars to 5,000,000 dollars in bullion is founded on no positive evidence, though universally be- lieved. The bank continues to discount with toler,ble liberality for tnerchants. I once more repeat, for the satisfaction of holders of stock in London, that no additional filet has transpired to increase just alarm on account of the ultimate stability of the United States Bank, nor is any secret reason believed to exist for doubt in her solvency, nor, in fact, any reasons whatever, beyond those already made public. It' it be true that she has 5,000,01)0 dollars locked up in Mississippi and cotton loans arid southern hank speculations—if it be true that she has 20,000,000 dollars of stocks and other property not imme- diately available in Europe, no wonder that she is embarrassed; but still it must be remembered that such property, although depreciated, is valuable. It will he further gratifying for them to know, that when the United States Bank settled with the Genei'al Government, its means were investigated, and its Stock (100 at par) proved to be worth 114. So coofident was the Bank of this statement, that she bought the Covernment shares it 1141. Surely a very few years can hardly have made so ruinous a difference as croakers and alarmists would make ou.i. The more 1 imp:ire—and 1 have ample sources of information—the less to I find any rational ground for doubt in the solvency stet wealth of the Batik; and unless the returns hava been untrue (a thing .I believe to be impo,ilde), cannot for a moment withhold my confidence m the ability of the imtitution to redeem herself fro:n every difficulty. The New York banks still cool Moe specie payments and profess their intention to effect no change in ill:iv policy. The pubic meetings of merchants in New York have been much divided in opinion on the paint ; and though resolutions supporting the banks have been carried, the majorities have beets very small, and the reading of the resolutions was greeted with hisses as well as cheers. Money in New York is worth from 4 to 6 per cent, per month ! In this city it
is only out of doors, and the Bank discounts liberally at legal interest."
The Great Western, which arrived at New York on the 2d instant,— having, in spite of tremendous weather, accomplished her passage in fourteen days and a few lemrs,—brottglit the welcoiw tidings that Mr. Jaudon had arranged his diffieultks in France, and that the crop of wlteat in England would be deficient. An improvement in the money- market was immediately Mt.; but before the Patrick Henry sailed, a very great decline in prices of stocks again occurred. Banks were stopping in every direction to the South and West. In New York and Boston, however, they remained firm.
The election for the city of New York, had gone in favour of the Van Buren party.
Sir Lionel Smith arrived at New York, in the Serpent from Jamaica, on the 1st instant, and was about to proceed to Bermuda.
A riot had occurred at Detroit, arising out of an attempt to rescue a slave. The violence of the body was so great as to cause the troops to be called out. The ringleaders were arrested, and conveyed to prison.
A " convention" of cotton-planters, held et Macon in Georgia on the 26th October, passed resolutions declaring it inexpedient to send cotton to Europe for sale with a bill of exchange, to meet which it must be sold at any price ; and recommending that the banks should be called upon to make large advances on the next crop.
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