rr XT' 1 JLX _ WHOLE NO. 7802. THE COMMERCIAL CRISIS. The Failure* in the United State*, Great Biitain and the Continent of Europe. Tfce Liabilities and Assets of the Bankrupt Firms. The Bottennem of the Commercial and Fiuncial Systems of the Old World. VERV INTERESTING AND SUGGESTIVE STATISTICS. *0., *c. IB FilLlREfl III 1RRICA. Omci op m MntCAimix AUUCT, \ 394 mi m Broadway, Now York, Jan., 1868. / TO or* HCBHCTWlWnR. me cnfruce of the new year induces us to prefect wweetoeewgain before you, glancing back at the principal sweats of tbe past year la the mercantile world, and of ortagafew suggestions dictated by tbe interest which we feet in your welfare. me financial revuleloa through which our whole oeuuby ban just passod?the disastrous elfect-i of which will he felt for a long tune to come?exceeded, In intensity, me apprehensions of the most timid and cautious in W KZlfUBfr. Jl 9iriU||-Ul U1VTW-; ! ?* ? n-v iw -. . Ibere bad been over trading, too much competition tn basinets. too heavy expenses, too long and largo aredas, and there was still quite a land speculation in fee West. Some failures were of course expecied. Ke tendency to overdo, however, you will remember, had been very much restrained by causes which have operated every year or so for the last six year-. During Mat time, drouth a?d( failure of crops both at the South and West, and two or three serious financial revulsions, aaatributed to put jobbing merchants on their guard gainst excessive over trading, in whieb'we do not believe My indulged to any serious extent. After the hard years referred to, great anxiety was felt in regard to the rape for 1857. A kind Providence gave us an abundant harvest, on the basis of which a sound and healthy trade was anticipated. Our importations!were heavier, It is true, than they ought to have been; but our jobbers stocked up moderately and were looking for their usual M trade when the contract.on commenced, which waa Mtewed by panic, and the crash came, destroying all demand for goods, depreciating stocks, deranging our interior exchanges and stopping collect ous and the forwarding of the crops. Was there lufllcitnt disease in the body commercial to nose such an arrest of bus'ness and a general liquidation? The number of houses mat havo resumed or will pay In full; the large number that have already compromised or'high as sixty to eighty cents; the small losses our hanks have met with, and the quickness wit a which try were able to collect in and place themselves in a sSrtmg position?not to speak of the value of the crops oc hand and the many mill'ons of specie boarded throughout die country?justify us in believing that the oxer-issue* of Cper money, overtrading, speculation, Ac , would not ve warranted, at I'-ast after the export demand for hdcate ceased, more than a moderate contraction, a Inch abouM have been even then very gradual and discriminating, and mot a ruthless assault upon private credit. We say that the larger part of the contraction which toot place was caused by panic, by which we mean " terror inspired by a trifling cause or misapprehension of danger." lieath from fright is as serious a calamity as Worn any ordinary cause. We have reason to be thankful feat thw panic came in a year of olenty; and with smaller fedobtodnats, we believe, from the country than usual. Had it occurred at at any time within the last three or unir year*- in? year 01 urrn iu uu wnurr *n rrojm, iur fcviniH ?there would hare Ween more apology fhr it; bat An kernes would then have been mucb greater. \M It is, w* may reasonably hope that the houses which have boon bankrupted by this crtsis will make better di\ idende than wvr? ever made before under su? n disastrous cjljuibaarw. Wo Dtortaln the common opinion that the action of the officers of four or tire it our rtrongest bank" was the shief oaure of the groat disaster* of tha season Tlioy concerted together and forced a rapid and merciless con tracoon upon all <?ir city bank*, carrying along w.thlbem Iboer of the whole country. If the banks of New York city are to control the action of the bank? of the I'nited Staler it ia to be regretted that so small a number of tbem should be able by '-ombining to determine the lioe it policy to be pttrrued by tbe whulo body. The whole eowntry ia, therefore, intoreated that New York ah xtld hare a steady and safe banking system t and If r legislature should mposo some sui-h restric tion as the pre?s generally hare recommended, like the law of Louisiana. requiring them to bare owe dollar In aperie for erery tbree of liability, wa should bays aa perfect a system, probably, of paper currency, ae has erar been devised tf the oontrol of our banks la Wmeted to nnakilful bands tbe system ought not to be blamed fhr the difficulties which their bad minag?menl baa caused A wsa action on the part of the bank* would bare driren into Insolvency ail that ciass whose condition warranted such treatment, without patting every one i.a tbe ram in order to dtsoover the wraan-as of the fow. TV' tendency to eirvaslre importation, wh-ch naa af flatted all classes of merchants, may he largely ascribed n the fact that Kuropean letters M credit hare been so easily obtained, and that they heve afforded Mgfe Una SpMlap for "kiting" operations In this regard the limes are Ilka theaa which nreended 111.17. fhsM hU not been SO BJ'i'-h overtrading i*d the part of lb* Joidwir* with the Interior ar bu b**n "iipp wed. An * class they manifest more cantion in giving creltts than n former yearn. Where the organisation of the home lagaod, where it Mmbtaeo other talent and experience than that of the mere salesman. with tbe Jndicionn nae of the Mercantile Agency they . an and >lo show good ledgers and a prospermia state VtlMI It is considered safe for n march act doing an nrduiary jobbing boaineas, buvlng on eight months and selling no ats, to aell three or mor or even Are limas the amnao* of hie capital; and if bis 'uejiesn Hi well attended to, and hi# goods placed m safe banda. be may be, always, aaay ta h* flaaacea, ant. rips'. og hte pai? r. and aaUrely ndepea dent of baake. We can point to such houme among our no becrihere in all klnda ofjobhiug trade, erven that moot aiandcred at all. the dry goons trade We have la our mind tbe rase of one such boose a leading awe, too, which, from the commencement of its bnsiaaes, anna years since, haa never borrowed a dollar nor naked a Sircoiinl till within a few weeks. We think of a sdk house, which, for seventeen year*, has not, till this cries, asked discount nor borrowed a dollar. We bar* also ta our mind the case of one of oar larpst umbrella house*. which, for ten years, has asked for no discount ixw borowed a no liar and we could mert.no other* We admit that these ratances are rare, but It shows what can be done and what ought to be done more commonly than it ml The risky bnoaee are thorn which ell ten, twelve or flfMeti times the amount nf their cap! tal In easy time* they are able in do tbiv by ustak all tbe credit they can get at bank as well an that they get from tbe importer and manufacturer. Tbe tohblsig merchant * euiharraeawn nta arise mostly from the want of promptness on the part of his country debtor no definite time being fixed when the debt must be paid The country storekeeper nownot be prmpt when telling uirariner* on a crndiioi twelve nuoioa or longer II' ?h"old Nil lor cash or "hort credit Then tie [would be prompt m hi* own payment#. and jobber* could begn t* w.ak# calcnlat'oo* on U>? certain and prompt paym-nt at their bill* receivable. Tin* would bo atrikui* ni tit* mm of th* evil. The prosperity of (bo manured. r*r. !m |wirr. banker and jobber la largely dependent on ikn manner in which the country merchant doc* hi* hunlneen If hteenur*e lend* u> make or break all tbo*e abor* him, bow ninnrUnt thai h* *honld do boirlor** on *o?nd praci ptee* Ho nbobM bo reqnred to glv* notoo for all hfc nor rha?'? and lo moot thorn at maturity Ho would then. of n#<***i?y. hoy carefully roll prudently, collect r neoly. and thu* enhance hi* owu prosperity m well a* that of trad* generally The farmer*, it la oonoodod, are the rtcbr*t body of men In onr eountry They can now do, with convenience. that whlrh twenty or twenty Irt TO*m ago they con Id not. If. however, they canon |?tv caah. tboy ought to be brought to onarterly nettlemonte at all wrenta There are TM.lhM village and country *tnre< In the I'ntted Htnl#* . and they are all the while indebted to jobber* of the c'teos. on the average of say. *14..">00 e*.h ; or. In the aggregate, t'i.WJ.noo.OOO Thcv am, *?aeon after *eacon paying off and Incurring this deb afre?h rinwe merrhantn wear* proud to*ay. embody a* much Industry, bumnee* tal?nt, and Integrity, a* arc to be found In any of the valV- of life, and the per cent agent boa by them. Including that which fa made by adventurer* and innotater* b, on Ilia amount oimlnea dl/mn small inrlrod toother iif' at .riwnf rnih?rT*a?mrnt. admitted to h> mch by n wealthy elara of lobbere if) aome of our ripe* bee been the fact, that when they have aold to men wti.nn they knew to be good, they have been ind.ffrreut a* to whether the debt ww paid them when it waa doe or not, iweferr.nf to make It aecnre at largn interret, and In thla way. locking up their cRpltal, they have retted upon the ha?il J to aupply them n time of need with acconomoda tton facllttlea. Than aorotinte. in part, far to many bouaea ri Hue daarrlption having been obliged to aak fbr rome eitear ion of their paper, We beg yonr reference to the following tab'e.g'ving tmch p*f*rul?r? aa may be of eome |nter<*t tt haa been gotten up tn groat haate, neceaaartly, hot we hare avoided no pain a n?r evpenae to make It nccnrate. In tho targe ettiea we bwve. In three fourth* of the oaeee, the atate menta of the partlea themaetvea. tn eo?e recent rear* of fhltnre eahiblta have aa yet been prepared tn all n Mancea where there atatemont* were not to be had, we hare put a careful estimate upon each 'Viae, our own re. enrdr ftjrtiwhin* ua data by which we conld mor> nearly afi|W> timat# It than by any other method have not Included audi hovi?? * na upended ftw a -* iitil r? tr- a m rot c??. h r?~ .mmo* th ' fHUiUli ?f *T>'!1 *< T?l ftlnuoov, r'n'fV I "T" ,ff ?fA'**""* h*l Jr?i < l? b<' VN I tv>rn?? c; , *? iHte'i'Hi ?*?i A;-,t*.ntfr> V;r< tm*. I E WE 1 it has l>c< ii ojh^b short time; nor have we included the towfii by the Vkllurm of becks or railroads. These ret'srm omtt California, our arrangements for that State mi yet bring an perfect as elsewhere. They embrace, however., the Cnnadne, New Brunswick, and XovaSeAia. H will heveen #,at the number of Arms in the United States (AJatiforoa excepted), by our records?and they embracti all, bit a class of imall retailers .n the larger cities?sa 204;0til, or, estimating the population at 26,000, 000, that there is a ?tore to every 123 of our inhabitants, or to every 23 families. There has been lost by 337 swindling and absconding debtorr, $6,222,500, and by 312 Arms which will pay nothing, their losses and confidential debts absorbing everything, $20,300,000. There are 3.MJ9 concerns owing $197;030,i>00, and they are such cases as usually average 40 lo CO cnts, and thereare 43b louses owing$77,189,000, which will pay in full if tho times ahead prove to be ordi rarity prosperous. The total amount of tho liabilities of the 6,123 failures is put down at $299 801,000 Bnt there will be realized from those who will pay in full $77,189 000 And on the amount of "ordinary" failures $197,080,000 at 40 cents. 78,832,000 156,021,000 Leaving a final toes of $143,780,000 The Columns exhibiting the number of counties in each State, with the number In whieh, during the wholo year, no failures have occurred, will surprise you with their showings. No other conclusion can be formed than that ibo trade of the country was in good bauds, and in a prosperous condition prior to the panic. If the country storekeepers' general debt Is, as herein before estimated, $2,282,000,000, it would be fair to infer that oriinarily the year's business would amount to all of double that sum, or $4,564,000,000. From this we would deduct for light trade last spring, and the Injury to sales this fall. 40 per cent, which would mako tnc business for 1867 with the country merchant, amount to $2,738,400,000, and at the losses lor the year by this trade were $41,838,000, the per centage is about one and a half. For the convenience of tboee of you desiring to contrast the city with the country trftde, we have separated the one from the other, as will be readily perceived by reference to the table. Twenty six cities are enumerated. Their failures have been 2,352 In number, and tho liabilities of the same amount to $267,963,000?or an average of about $109,000. Those of you who preserved ouF last year's circular, will he able to compare the statistics therein given with those contained n this. STATISTICS AS TO FAILURES FROM DEC. 20, 1856, TO BBC. 25, 1857. <?, 3 Fhiluret. i > >> "ac<?* : 5 Liabiliiiei. xrw YORK. New York city* 13,864 015 $136.109,000 Albany 721 36 838,000 Buffalo 793 73 4,224,000 Oswego 204 13 161,Of0 Rochester 408 31 860,000 Syracuse 305 29 436,000 Troy 381 04 1.607,000 Utlca 298 20 585,000 Balance of the State 16,676 447 6,789,000 nas<u cm-arm. Boston 4,374 253 41,010,000 Balance of the State 10,267 230 2,611.000 PRNNSYna-VU. Philadelphia 7.404 280 32,964,000 Pittsburg 1,374 28 1.183,000 Balance of the Sute 13,526 226 2,283,000 ILLINOIS. Chicago 1,360 117 6.572,000 Balance of the State 11,469 199 2,766,000 OHIO. . Cincinnati 2,613 96 3.898,000 Cleveland 660 30 613^00 Balance of the State 16,746 220 2 367 000 L0USU5A. New Orleans 2,230 58 6.285,000 Ralance of the Slate 1867 6 246 000 mnovu. St. I.iuis 1.580 49 5,538,000 Balance of th* ?Ute 4,851 20 499.900 RHOllI PrOTidence 1,100 35 4.564,000 Balance of the State 566 4 106,000 lavuuip. Baltimore 1,470 68 3 206,000 nalacre of the *ate 3 368 41 725,000 mcniu*. Detroit 649 34 1 514,000 Balance of the State 3,706 98 1,004 000 K>W1. Dubuque 403 36 736,000 Balance of the ?tate a,aw 106 1,333,000 umtsi. DoulavUle 1,080 19 767,000 Balance of the t'tatc 5,716 31 1,007,000 MOITH caftOIJNA. Cbarleaton. 900 31 922.000 Balance of the State 2.638 24 305,000 TemtoHee 1,897 63 1,704,000 Indiana 7,337 139 1.036.U80 11?I8U. Richmond 1.683 30 781,000 Balance of the State 7,781 90 942,000 tmcwm*. M.lwauk.e 633 19 380.000 Balance of the Sute 3,761 101 1 244,000 North Carolina 3,233 62 1,171,000 NewJerrey 4,433 86 1,142,000 Connecticut 4,209 61 1.129,000 Maine 4,912 81 1,060,000 New llampahire 2.700 70 $928,000 Vermont 1,562 67 473,000 < I core m 6,339 32 926,000 Itelawure h Die. ot'OtiiuuMa 2,727 20 261,000 Arkanua 1.179 7 309.000 Alabama 2,604 16 20.5,000 klU.U.1...,. ) t'lk 11 iifi /hV\ t (Ml M ii . . t^.i,'nrw T?iio???C 4.367 40 712,000 Florida 7H3 7 260 000 Teiai 2,447 16 393,000 Total Called Salon. 304,061 4,927 6291,760,000 ca-vaoa wan. Tnrnofc. 3*8 26 2,714,000 IMaixo<>r<7MUMl* . 3,444 109 2,172,000 t an a Da lam. Montfi*! 009 16 623,000 Ralaseo of Canada Eaat.,. 1.7*1 16 1.207,000 Nova Scotia AN. Bruaawick. 1,707 22 _ 1,376,000 Total BM*h proTJCfa ... 8,003 Is* 68,061,000 Tola t1. ? and Br t prov 212,364 1,14 6299,601,000 Ordinary4 j fftj PUem 2J 5 JT? LiabiliHm * & ? ? Nrw Tor fl00 6?,?1,000 216 av 51c JtlNiu IK 4*1.000 10 a*4'M Rufflklo U 2.796 000 UtfMo I IS IM.uon Roofceeter 27 707,000 9av4Ae Scramee 22 206,000 4av3lo 12 ?1000 3av4?c loca 27?.i?o 6*t47? BftlM.CC M the MM* 370 6 M0 <000 B^trn 212 .72.266,00o 162AT4*C Halaoee Of the State 202 1,711.000 lUMILMRU. P7. laV'lll 106 16,005,000 rt.lar54<1'ittAhort 22 O1H.O0O J3rc47c Balance of the Stale..... 20* 2.006,000 U0M O..rofo 62 4,571,000 IUTMc nalanceof the State 140 '2.008,000 ( OHIO. CtortnnaU 00 2^W7.nno M?c 4%: Cleveland. '24 .790.000 10 av 470 Balance of the Stale...... 176 1,742.000 loriMAtM. XewOrlcAM 36 4,366.000 7 at 65c BaUr '< of the SUte...... '2 .6,000 1 *mt 16. imrn ai (too per&o *. l/wi# 26 3.685.000 4 at 60c RaIai.i e of the State ' 17 '247,000 Mono ML?m Providence 22 2.1.76 0<K> 12 av 40c Balance o' the State 3 W.00O uiTun. Baltimore .79 2,472.000 17 at 44c Balance of the State 37 707,600 MM4I. Hetrmt 24 1,199,000 13 at 41c Balance of the Stale 71 7'22.nuO IOWA. Ttntwqoe 21 403.000 4 at 14c lialaare t>f the State .... 79 1,069.000 *?srrro?T. 7<mttrvillO. 1? 41>.noH Balance of the State 24 496.00O t*6*TH CAROUOA. fbarlcAtnn 23 712,000 9 av 42n Ha'aree ot tb? Sere <20 -24;. <1011 Territory* 4* 1,302,000 Indian* 1H 1.411,000 1ft*v4<*J I?IIU. RrtuaoMl '22 004.000 3 at ft?fl I mllHt Of U?n Plate 7# 740.000 WlUCOtWtl, MUwrniklo 14 312 000 3 nt 73c Balance of the Stale .... H North Carolina. 42 awt not) N?-w .fentcy. 78 *.10,000 Onnecticnt Mi Wfi.ooo Naine 71 M'i.mio Sew HamprtJlre . 00 3778.000 Varment -M* 832,000 ? WewrU 21 381 ,030 _ Itolawareft lha. cf Oricnbie 18 288,000 _ Ark*) had 8 88VOOO 1 atn'g to or or 1 81 on ,000 WtU ,1T | vibm* , | n| ^ w f 7 J, W Y 0 10RNING EDITION?TUBS! Miearsipp. ! 10 486,000 2 av. 60c Tentx-teee 20 018,000 ? 6>rida 9 228,000 2 av. 6lc Tew. 12 t 393,000 ? ToUl United States 3,708 0192,306,600 oawaiu tot. Torento 17 1,270,000 3 av. 68o. Balance of Cwmta West... 73 1,831,000 8 ?T. 46c. cxhadjl just. Montreal 12 446,000 4 av. 62c. Balance or Canada Fast... 13 60,000 3 av. 36c. Nova Scotia k NJBrunswtck 21 1,303,000 3 av. 60c. Total British provinces.... 180 84,776.000 Total U S. and BrK. pro v. 3,639 8197,080,600 Not clot'ddithoSwindlimg and nettdrut will pay J'lacrf. abecond'gd'trt. little or nothing. A1U. irflUVK ?. ATV. WKW YOKK. New York city* 37 MM,000 111 $8,033,000 Albany 1 6,000 10 144,000 Buffalo ? 74,000 9 534,000 Oswego 1 6,000 ? ? Rochester 3 123,000 Syracuse 3 86,000 3 63,000 Troy 1 20,000 7 230 000 Utica.., 1 12,000 9 147,000 Balance of the Slate ... 26 220,000 27 266,000 XAftumcwnB. Boston 2 109.000 20 030,000 Balance of the Stat*? 14 82,000 8 75,000 rcr.NKTiAANU. Philadelphia 13 481,000 60 3,704,000 Pittshurg 1 16,000 3 40,000 Balance of the State.... 4 42,000 14 128,000 ILLINOIS. Chicago 11 203,000 1^ 407,000 Balance of the State.... 26 210,000 17 291,000 ouio. Cincinnati 7 99,000 6 100,000 Cleveland 2 5,000 2 38,000 Balance of the State.... 26 380,000 16 236,000 LOUISIANA. New Orleans 4 213,000 6 342,000 Balance of the State.... 2 70,000 1 150,000 Missouri. St. I-oui 4 205,000 8 498,000 Balance of the State ... 5 61,000 3 36,000 anon* iriano. Providence 3 18,000 6 1,456,000 Balance of the State MARYLAND. Baltimore 3 30,000 9 362,000 Balance of the State.... 4 16,500 ? _ MICHIGAN. Detroit 4 23,000 4 142,000 Balance of the State.... 18 124,000 6 48,000 IOWA. Dubuque 2 26,000 8 76,000 Balance of the State ... 10 81,000 11 61,000 KENTUCKY. Lonlavill* 2 7,000 3 78,000 Balance of the Stale ... 3 310 .000 3 107,000 conra CAROLINA. Charleston 2 31,000 6 67,000 Balance of the State.... 2 36,000 2 25.000 Territories 11 154,000 4 88,000 Indiana 9 78,000 if 107,000 VIRGINIA. Richmond. 2 8,000 6 44 000 Balan:e of the State? 9 73,000 7 108 ,000 WISCONSIN. Milwaukie 1 10,000 3 50.000 Balance of the State 7 61,000 North Carolina 5 57,000 13 428,000 New Jersey 4 30,000 ? 122,000 ConLecUwU.^, 5 35.000 6 90,000 Maine.. 2 66,000 8 170.000 New Ha^pTtf* 4 $20,000 4 $23,000 Vermont ? ? S 15,000 Georgia 7 45,000 3 180,000 Delaware ft D. Coi'a.-.. 2 3,000 ? ? Arkansas 2 24,000 ? ? Alabama 1 14,000 1 l?,08t Mississippi ? ? 1 10^000 Tennessee 1 12,000 5 13,000 Florida 1 10000 1 12.000 Texas 2 26,000 1 16,000 Total United States 317 4,$86,600 49$ 20,106 000 CANADA WWW. Tar oo to 2 153,000 2 17,000 Balaii- e ofranadaWeat 10 76,000 $ 11$,000 CANADA KA81. Montreal X 8000 ? _ Balance of Canada Kaat ? ? 11.000 Nor* Scotia ft N. Bruns'k ? ? 1 12 000 Total British pro-yince* 20 $237,000 18 $143,000 Total IT. 8. ft Brit, pror 337 6,222,600 612 20,306,000 Likfiy to fay in > ^ t. ? ^ is. sr* "? ? i _ I ti ' ?? ?V0. lA*t* lift'* n II: sr N?W York*CltJ?**.' 167 $42,167,000 Albany 6 209,000 Bnffalo 4 821,000 (?wcyr> Rochctvr 1 20,000 SvrMUif 1 30,000 fr?7 ? ??.?? Ulirtu 1 60,000 Radnor of th# RIM*" 17 740,000 00 UMI HI KRIIHl IVmtofi ........ ,_L.. 16 iwiMir* or trie mate b 70.1,out) i? imrRRTi TARU. Philadelphia 52 11,774,000 Ptttahtire 1 210,000 Balance of I ha mate 4 100,000 04 10 1UI5 oa. mirmn 12 1.301,000 Balance Of Ik* HltUi.. .. 0 172,000 101 51 OHIO. OnrtBDMt 15 1,312,000 Cleveland 2 180,000 Balarx e of the mate ?8 17 w*-tRMRA. JfewOrleana 12 1,342.000 Balance of the Plate... 48 43 uaonti. ?. loom 12 1.234.000 Ha'at*" of the -"ale 4 100 000 111 90 KROOB WL>-r> Providence 4 064,000 Ihlanre of the male 1 45,000 5 2 ART LARS. Baltimore 7 552.000 Balanc e of the Pta'e 21 0 MBWAN. liftrott 2 150,000 BaliOfo of the Plate .... 8 110,000 40 20 WW4. fhihuque .. 5 170 000 Balasce f-f the .mate...... 8 132.000 100 71 umtii. I/rtiirrill# 2 200 000 Balanre of the ?t?e 1 04 ,000 100 75 fklTTtl CABOURA. (Turlwuw 1 12/100 Balaine .4 the Plate 20 10 Ibrruor^ ? 1"' -**> ? 40,000 ? 37 tiMum. PtrfcTnord 1 40 000 HaJatir* of llM' SIM?.. ... 4 57,000 110 W nmiM MiHra?k> 1 "000 Robrc of th? 4ta?e 2 13,000 4. 14 Vorih Tarolwa 2 14.000 82 81 Ntw Jfmy 4 145,000 20 6 prniMctwet * Mato- )' K?w liampahtfo 2 $110 000 10 ? Vrrrnorl ft 74,000 14 ? J 10.000 104 89 pr'aware A Tic ?fC'?>ln?Ma ? ? ? ? ATkanaar ? ? J4 48 I Atabao.a ? ? J* ** I ? "* III ii T?ri?r?Pta. ? ~ I? !i nw?o - ~ *1 > T'*0a. ? ? ' "* 1 T'llnJ tB'trO f-'lal** 418 $74 293,000 TprnnU I 1,274 />00 - _ 1 11 3.12,000 42 10 <xo*?? <urr M >ntr?*l 1 70.000 10 M Balanco < * iViado Kn?? .. I 1,100.090 20 251 Nora 9r.rA'm K N ? ? ? ?IMll BrNlxk proflKM... 17 iJ,W6,0U0 Toin' r. P. ??dHtH pror. 4tfi O77.149.00o| fnrl? t'? Prei-klm anl W'l'Uomo' nr? You ?lin Uvp Mirrivod tbr panic ham p rhoaring fro* |M>ct oolite >*uii i.f lUiitin bUMUion ! > mltai.Iri.Ie, i>'t sprnif = up. will h- more healthy Wa shall rejoice In your pm-p-nty, and initio fori may .mini retrieve any kr?oa vog liate mi-turno! Uiricwh the miafortunea of other* We shall ho thankful in have you p,v* well of and re remmn.tl tlio 0*oncy to U favor of thou- of your fra-ndo who may fhnn'-o to So do rr h>irme*t * their tho honefltt t i(V rde Tho Banlmr*' Mi inriftr for thie month rnnlatna oh rl article rh'iwiry tho i hj? et and beti?Ma of lh<- Mor rantlle /fepry, to which wo w uld refer f?r all needed bt rama' on mo* IM1 wo Ua- ' lah 'ri-'io?rk' t an la<t ? penaoble auxiliary to trery mnn'n htio'aora We know o incremental of mv\n(t rutny mtlli >b? rrttly to O'treoy. and thai to Vaochor are pu v tralur Ma to tVir *evnral li-oal'tioa. Who eon loll w i ix4 tho ft u"ial Hilt- Utoa.f 1M7 wonM have o?P? *r?:o?l.tf it i?" * ixt? -n for tho r ? inform .i. ti tlx* \ / hM n J limp ?r ? ?ti: r|n?wi . > it- J lor? ' Th? < . i- .to' thv-ox- t.r > ti. ^, ".*7 ? *'! ' 41 ri*Ot??M. ' *>.! V? * b"P-- II ?t" t T r XArdltd M lh?> I i-lu m . Mi'l v.r. . . .if rv it> W'M. inir ymi vji?ptiii?<*nl< of l| r (HT vui *rp rr?nm. jr?
t'tiUi?jiy ti, 6? WiASi *?.n 11 IK H DAT. JANUARY 12, 1858. THE FA1LCEE3 111 EUEOPE. We present our reader* with a liat of the failures whioh have taken place <n England and en the Ooulinent 'lurloii the present financial revulsion. These, however, are but a portion of lite whole number, an eetimate of which we have given hi the absence of more reliable information. Tbua we find that there were over fifty failures in Berlin, none of which were published among the bankrupt firms. The sommencement of the revulsion In Great Britain and on the Continent was felt about the beginning of October, but nearly a whole month elapsed before the public were fully aware ef its extent and character. About the end of October Ha effects were beginning to be severely felt in London, Pa rls, Vienna, Hamburg, Amsterdam and other leading cities. I'p to and even after this period the Umdoa 7lme? ana other leaning organs or Kngiisn opinion insisteu una* the depression was merely temporary, and that it would be found on examination that the commercial community were generally in a thoroughly solvent condition and would be able to meet any financial emergency. The Huuld was accused of unnecessarily and unjustifiably increasing the alarm, and its prediction* were said to be totally unwarranted by facts. In view of all this it is peculiarly interesting, at this particular time, to see how fhr our predictions have been verified, and to look into the startling facts which have been developed during the progress of the revulsion. This will bo beet shown by the following list of failures in Greet Britain aud the Continent, which is the strongest proof that can be presented of the correctness of our views:? BANKRUPT HKM8, WITH THKIR RI^IITUTIES. Adams it Co., incdon $11,000,000 Bennoch, Twenty man & Kigg, Ixindon 1 .'260,600 Broad wood fc Barclay, I on dun 660,000 K. Bainbridge & Ut, Imodon 176,006 Rrayford A lAnd&Rer, Walsall '200,000 Brocklesby & Wessons. London.' 200,000 M. Balden, St Petersburg. 750,000 BischofT. Been k Co., Ixmdon, India trade 160,000 W. H. Brand k Co 1,177,000 ?. H. Baird&Co 106,000 Carr, .fossliDg k Co., london 1,600,000 ' Win. Cheeseborough k Hon, Brail ford, woollen firm 500,000 11. CoiiTcia &Co.,Greek trade, l-ondcn 125,000 W. Candery 15O.P0O J A A IH iinieUiun, Cries & Co., Iondon, he... 10 666,000 Hartford and (iravesend Bank 100,000 Wo. Bray k Co., tool makers, Londou 300,000 Edwards I: Mutthie 1,760,000 Thomas Fllis, fleet works, Sheffield 40,000 J. Gallaid 260,000 Foot & Co,, London 200,000 Fish k %eet, London 56,000 V. B. Filey, I/mdou 12,000,000 Jotteph Kxrte ft Oooe 136,(HH) Pitch k Ifceet.... : : 276,000 W. B Filter 700,000 Alei. H'ttr. k Co., colonial trade, louden 600,000 Hubbard kSona, I node, 300,000 Hull man A Co., Swum trade, luwdon 100,000 lladlnnd kCo., Manchester trade, I end on 160,000 R. Heme, Semen ft Co., bankers, London (to be paid by lothgchilds) 3.500,000 Thoni.v Hook, T'emberton A On., lendon 165,000 Herman, u k Co., cotton, london k Uvcrpool 300,000 John Haley k Co 337,000 A. Hill 300,000 Henry HoTnian ft Co 600,000 C. A. JooM A Co 600,000 M. Joel k Co., Dautuc 1,600,000 Jf ei?er ((!., I oodon 260,000 KlingenderA Urol fears 0,000,000 I.kM'nst/onft On..Continental trade, l-ondon.. 400.000 Uoyd Br?',l?n?, Inudon 876,000 T Morrn A "one, WBlverhampUin 900,000 Nay lor, V latere ft On., Sheffield 1,720,000 Northumbersnd and Durham Dank ,. jt. 2,000,000 Nicholson A ?o_, louden 2,260,000 W. 4)rr ft Co.. Liverpool 2,000,000 Powks, Broker* ft Co., Liverpool 300,000 Peuiston ft Mtrshall. Liverpool 1 600,000 A. Pelly ft Co, North of Kurope trade, loader. 800,000 W. J. Powell t ten, warehousemen, Manchester 600.000 Pinto, Basto 6 Co , Iamdon 760,000 Roea, HIvgiosA Rose, Wolverhampton 1200,000 W. Riley ft Sma 300,000 Rew, Preaootl ft CD., Bwednh lift*, London... 760,000 Vm. Held, Ed.nburj; 676,000 ROSO, lfllefeab ft f> . . 2,000,000 Saoderaoo. Sanderson ft Co., 1 oadco 20.406,000 Soendonft Jehnaon. lnndon, ftc 2.600.000 J. If. Ptofeert ft Co., Inndon 400,000 >, \1?^U lr?l? (..iuIui 11 imwwi Kdward smith, wool atapln , b*raa<?da?y (00,00* Saallrid, Itrothera k Co.. woollen cloth, Inndon 1,000,000 Scbwale k Co., CImrow 7(0,000 I. R. Thornpeon k Co., louden 12(,000 W<-*Wn liank of Sontlaad, 'Jlnegow paid up capital $7,100,000; depoertr $30,000,000 10,000,000 Wilaoo, Morgan ft Oo.. I-on doe 1'ZiOOO Tlio W.>:v?irti?aif>Um aid r* Riu k .i* Company, Wol t?r ham ptoe, (amnatance (rant edl 3.M6.000 Wemboll. Weimar k Co , F. India Waita, 7eodun 1,7(0.000 O. k A. Wood, br-wera, lewwa 300.000 J. k J. Wright. Claafow 40,000 Total $134,3*4,000 Total number or traoa 71 Here wo have a total of aver one hundred and thirty-mi milltoaa of dollari, ^dependant rt three 4rm? wboae l:a b.otiw are not i!at*d, and which are enumerated aa fol Iowa ? NAMSfl ok livmprr nnm wpors Aflsrr* anb t.iann ittbm ua not utatid. J. 0. Adama. Ulatfow. Aydoa & Furpuaoii New- aalla o? Tyaa A. Aehwsrtb. Walton le Sale, cotmn ar-.nnrr A. It J. Adle. Puudee Itowman, irinitell kOo , t.iaerpmO .loMtbftit HoUomky, Bradford ~ Al?? B*f train, Wore#*tor 44 Hal* At Hon, KtagawmJord r. k A. HotkL T. B. C-xliiUigton k Co., Linogpool. Clayton k M< Koverigan. Ij??r|i00l. Oriiimhank, t.laag'iw D. Conoolla * Co., l/icim llrr.rr Dntllb k Co., l40<ton, >" too* * Jw rtoooM k HoM. la* Ihioran Joaaph Itorrnport .Hhofflald T II Rm*nhnr?t k Co., l<r>ndo? (<J?rim*o m?r<-bar,t*, trading to North of Knrop*.) BMrilnn, Clum* * Co. grain, Hartlapool. Th*?' ty of t,ia*gow Haak-capt'al tbyW.OUO, panmly r* opooed. Bog* A Co , Urerpool W C. Hoigb wool l*n trada, Bradford. 14 Huatar. N*wr?*tl? on Tyn* Hand*, Marrhrr A Co , Dutiti M?ri haul*, Hull. Hintk,nMtai k ?to . inwfoc. H-wkioaoti k Burtund*, I onion, itatonof* John Nwto'lor Bin***, rptoo. JeHtool k wu. load on Kirk up A Co., Worra?t*r. Mvcrpooi Borough Book Markengig, K*n?*y A 0r>.. Dmdo* J MontrKh A On t.laagow Monro*, t.ront A Co , Swanora. V. Mac* A CorrnrM. bipown*r*, t.i?erRaol Henry Morton, Wiabech u MntUam % Ttpt'iO. tl l>?r?ou k K * !* fc iron men hanta, Wplr?rhampl?M" tf C. C. hit. rTalo.Rnlfaot T R. Rrtd & Co Parhf.Bllll trade. i<j R Rar*nn ft 00. u y?fm*nn ft Or> VnUiBftftftB. rr Nt*r*nioti Vet n*hr?B ft Hcott Newraetl# p, 1 enpnld Saatpeea, Manebeeter K( John Taylor, Oo-?ntry W R f'rvn. ft?vca?1<-ot-Tyn* h Wilww Hollett ft ?>.. t. tn-|*??l. fri J l! Ward, *? ifti ->t to ?M ? i on tM Wi?1ham T>* t<'l?" Ca*npBBf. 1 n *oe ift H ft M ^dd?r,i?. i In rt Yerrtlali ft Tetde, vnel dealer*. * Total tiuti.lcn ol lro* ft I rt la the foik.wii.ft -? ft re lli* n?m*a of itooae Dim wbnee tal.|lit|#? and aerrkar* putillabed ? fl uniKi rr nun- with mmn liabimtii* and <fc Man. liahilitix* Affix 1,1 ||leg forth ft On fadon (115.000 ?22,000 *" Ian. tl A i i.-ld, f?m lawdnn ... 440,oOQ 100.000 bl< .itt>< r. Riftenaaar ft 0*., Herman T* ira>l*, ; undoa....,. 170,000 20,000 1 ir?|-*r i-Rrgi A Ot , (ommMaion ad aic-ni* itrmdoo... 1,100.000 200 000 |r?,? I' l?i fa A fin , Imdor 75,000 45,000 r*! i. ii Pari earn traits .... no,otto ft.ooo Oh leak t?f Kartey. I*i-e0*t ft CO., Wor j eerier.... J50.000 200.000 ;<Hlft-V Pdllano ft li.llia**. nr.. 1,500,000 140.000 ,n* kirn 'n. IVufTel ft o., American W trad*, t.e lon 025,000 410,000 ?f loar*. nitiiort ft Or /wadi-h tra-le, ItOOd. n 2,000.000 H7.nl l?rt i.i, ri li ft H |? ft.ii. 500.000 3*7,000 ? ' i. H " Kar rn-td.' agftl 7(0,000 IIO.OOO ami ?,r.- .(te'-.ror. 175.nuo 136,000 irfll A ( fl,n,<.Prti.A?*<Jr 170,000 06,000 C Ilctor kCo.. wmtunhra Hal. Bm (! * 1*0,000 1,000,000 tai0 -I a i -? A (\ W.-at India <*, t, trad a, I >ndoo. .... t 1,160,000 270 000 1>.,ma" M.'llad-w, .... 130,000 10 000 Will t ttai n x. W?l?*Thami>a. 12*000 30 000 that 1'crry WnWrrhaniw .. 2MV000 170,000 . \ H sua Tikar, [*> ,.. OrlH 106.00O 126,000 <** WoUaThamfOonj 00,000 26,000 ?*n< l*h*<i?r % It>Hman, fltnan trad?, linWr 26C.000 1*0,000 ' >>,!? BrtHhOfO, RirmlnkHI 3*0,000 360,000 ,h,t ( ?. f"n rffl atia ilufarvwar In lit ...J, *70 "00 117,000 f. t'Oif < r ;??* ..mJr.o, io,ooo 20.000 _ . i. * Kit A <sr?n. i?rir 1 700,000 7?o mn> O? t w; . he. ti\?)'T2w.ooo ftu i r*.htA' r'h, '< litar*. lot - t r? mtm | T*u! M,910 900 ?ht* r?uirwu? r f>. V| ri'io ERA The average liabilities ?f ea< h of the firm* whose inlet) lad newt has not l??ea published, If tw-t.inaiod by ttM iverage liabilities of those which have, will make a tot*1 ?! tW.ow.iXK) Hut this is not the lull amount, which, we have no doubt, would be found to be rather over than under the sum of four hundrod millions of dollars, or tbout eighty million pounds sterling. According to the Mime process of calculation, it appears that the average leasts of eaeh (lrm, estimating as before by the average i?f those which have been published, amountto about (200,D00; which shows that the bankrupt Brms wiU not 1m tble to pay more than two shillings sterling on the pound, jr, according to our currency, teii cents In the dollar. As, Iwwnvor, this result is obtained in gleat part irom oatt nates, and we desire to alliw the widest margin, we may letdown iho assets at four shillings on tbc pound,or wenty cents on the dollar. A comparison of the total liabilities and assets gives the following Agures:? fcta! liabilities $400,000,000 total uiitl K),000,000 This certainly does not speak well for the manner in irhieh the British commercial community?which has hrtb >rto been held up as a model of honesty and perfertioo to lie business world?conducts its financial traosai tions. It tppears from these figures that they have been engaged n speculation upon a purely imaginary basis?upon capiat which had no existence. In other words, that the lrms wboee rottenness and bankruptcy have been brought m light by the revulsion have gone on doing bustnea* airiest wholly on a credit basis, and with the knowledge if their own inability to tolfil their engagements. In the case of nearly all of the insolvent firms which lave been brought into court, facts and circumstances <>f r remarkable character were elicited. It was touod that tome of them could not pay more than a shilling in the pound, and that they had been going on for years on l*>rrowed means, conscious of their own utter insolvency. In many instances it also appeared that tliey had obtained credit to largo amounts by tho exhibition of notes and promises to pay which they knew would never be re deemed., Facts of a somewhat surprising character were brought out en the examination of tho bankruptcy case of John Monteith * Co., in the tllasgow Sherlfi's Court It appeared from the testimony of the head of tho firm that ha began as a commission agent in February, IMS, on a capital of 97.600, and from that date to tins had transacted business to the amount of hundreds of thousands. He stated that although in three cases his firm were aware of the insolvency of the parties ho granted them accommodation, and continued his accounts with them becaum they had threatened to fail unless be enabled them to continue in business. I was, he elated, often left in the lur:b with their bills, and obliged to provide for thein. He hail, he farther stated, no difficulty in getting renewals ofthe hills with the Western Iiank, but hail great difficulty with McAUan's bills (one of the parties) on the City flunk and the Kdinburg and Glasgow, and he was "obliged to pay some of Ward law t Co.'s (another of the parties) that fell due in the lTmon Bauk. It appeared that the Arm were creditors to Atterbury, Jr., At Co.. a New Yora house, to the amount of about 1200,000, but which tkey were unable to obtain, in consequence of Atterbury's bav ing stopped payment. Mr. MonteKh further said ? When we commenced doing business with them, from inquiries we found they were a first rate house, rhe Western Bank informed us that tkey had this character of them from tho Bank of England, and the W-stern Bank took their billa In preference to any other American house we dealt with at the time. I have learned that Atterbury himself is coming to Glasgow to make an arrangement with the bank, but 1 do not know what that is to be, is-r how much they may be able to pay. Tho jrroiimata causes of our bankruptcy were bad debts. We l? t by Begbie, Wiseman ti Co.. of Glasgow, nearly ?8,000, 1-y Robert Johnston A Co., or London, nearly ?8,800. Utham Brothers, of Uverpool, above ?4,600; M'Gachan to (Jo., ol Liverpool, ?1,200, and Isaac Hadwin, of Liverpool,?3,U00. All these bad debta have Keen made within Che last twelve months. None of ths bills by Atterbury to Co., current at the date of our bankruptcy, were accommodation hills they were all for goods shipped. I see that we had sent them goods to the value ef more than ?80,000 (8300,000) since our drst delivery for the spring trade of wi.16. My statement allows losses by bad debts, ?106.002 6s. Id. losses on guaranteed sales, ?10,376 Os. 2d.; liabilities clutrged on us on bills whieh should have been pa ct by the acceptors, they having received full value, and which are not Included In the list of bad debts and losses above m. u tsuied, ?168,047 16s 3d. Of these debts and liabilities about?300,000 hare been Incurred during the present year The charge for interest an 1 discounts during the last four years amounts to ?80,023 10s. 2d. lite Iom on 102 Western Bank shares, purchased at ?72, is ?7.344 on these shares no value oan at present be placed. My claim an the Manchester concern is, ns before mentioned, ?40,200, tho bills for whi-.li are with the Western Bank. The following etpreuUm of the system, which was brought out in eoeof tie Scotch Sequestration Courts, may be read with interest and proth. It has been made by mc iruunpirftri w or mor^ukniy pn^wja id ine mailct ? i TV rasa of Mover* MrKenrc, lUmny k Co ponding n the Dundee S?juesiralion G?urt? affords acoltwr Itmmt ibte instance of ibc cnla inseparable from a syairn. if ,rade based upnn accommodation l*("'r It appears that th.s'.rm commenced bnsmeaa in lM'J aa mmieion merchants. with a capita! of ?7.100. ao<l, aa it me inee transpired, at a time when Mr. Mckenzie wan L2.700 behind the world, ao that the capital or the Orm lean really tbnt sum l<*s than ita stated amount. In IRftO ihey hepan to manufacture good* for the American mar let, ami during their brief .ar??r they thought proper to idvanee ?2.500 to a firm they started in bnames- w j?.wit loom factors; lliey sank n further iiid of ?4.fmo in a Meachfleld, they had transactions in one year with a hank mounting to the sum of ?417,*40, and they pay m a aimi ar period for diaiountc, ?10,000. Aloe naturally la led to inquire bow ao email a capital in i manufacturing business could ooinmacd sucfc c impar.tlive ly larae transactions Mr. Mckenzie in hla examination en. ghter.s the uninl.latcd, and communicates the mode in which hi* firm roc lu i"d their business. T*>e vara* were ordered of a sptn nir <a a credit of four or five morlhs, aod sent U> a yarn ulrarbfr. who accepts a bill for their raliir, and hold* the iarn? a* security. There yarns, when hlea> bed. are rent c the factory, and Uie ostwinbfe proprietor accupte in char hill, the proceeds of which are applied to jay for he weaving, the manufactured article ia now sent to a loth hlearher or to a catenderer, either of whom accept* cali' r hill and holds a lie* over the gunda These hill den (f""!? when Onl-ls-d must he repi*. -4 by otliera to score the acceptor* of the Idtla aaaoiH Iom. and are thaa ooeigned to a New York commas k>n house and another ill stfawo M the home house of the American firm for a nil ?. ilil.Q the -<...(. to ?V.i,fi LIiioii Uliml I.? fr..~ reaiauen The fleet rhlpment* of *i?td* on omrlrnmcnt fothe trr." icaa market fenerally roaliae fine remuoerative prime, ut it wi I h?f.|?Ti that the *("*111 10 aaarlcet no not rouely ftactuetjn* ami uncertain w that of lbs Tailed late* am nut ?old with that put.rtuality with which hilje com' duo, an<l wh?n ?nch urrarretu ee do take lac and the Conaiynor ia unable to nupply fund* to ike up the btl), the ir?oda arc cold to m. ? i It, at what iey will l>nnp. and the unfortunate cnontgnor auguiDa it loe* Tin hietorv of Meaara MrRenele, Rtawy ft Cb In lentical with that of all needy home* that c?.ti?>*n K'netn ?the Totted Ctrtte* mirki't?cactain rain to th? mrclvcn, iuch line to thetr creditor a, ft .at injury ! < Ui'-e an aye.l in the Mane trade, and b? neflt only to the comm.* .at bourn* Th?- >tmri- ?tja rc in. if* '.bet for one each bonne rained jr conMlrnmettt* in ih-ur market. them are three <>u?et <>w rradytu iak< ,v place. With whom, then, raata tlift ?wcr lo etar or b <ro the evil that arto ? injuriously to M itfu'l^nt nor .it trader? f credit were not Riven en <ed ty, ir ft iruw for retain* money were carta led, and Htw pa*?'d i jninwh -rimlBelly all who engage in ac mmcxtatlun bill transactions, much lone w?uld be pre mted tn.dhcr cell ar em from creditor* draadin* the ipeneee of the nankrupt Court, *laaeln* over the cir. um unree of the dlehoeeat trading of the inenleont to eecura e t?wt possible dividend*. It rarely would he more *n flrd aid in the cn I more profltable to reftiae acceptce of any dividend rave through the Runkrunt Court, in I ranee were 'radlDR hae been carried an with the aid of ar k cred t or prrelated |n ai>r the capital of the nau' el had been lont. fr. m the forc*oin*eipeaition eome idea may be form ef the manner in which business la ooMucted, and thla 1 if ia pretty fhir IKoatxttion of many which lorn been until to llf ht by the r.riate in -ther fhct may b?w<rth mmtiTiw here One of i flrm? thnt wee announced among the bet of honk- , p? w?e mok i.k preparation# for the celebration rte hundredth uinvrMfj when the revulfoo >e end relented the fbet that it had been ' ally bankrnpt for menr years. Nmaroon In ioea nf rraud were developed in the ?r?m Ion of the financial condMMr of the Weitern k ft Scotland. l?*tc amounts of money were i>bed en drafts end notee upon people who. It wee found ireetijnUion. had either no e*wie?re or no r<**pnor e y Tbw nyrtem prevailed to an ettent which proven 11 all the boasted stab le.y of the Enal h commercial K unity ha* no foundation In fart Tn tha mid#'. of tha i la tho Rank of Fn?!an<l andaarorod to maintain tb? T1 ?ral rradit by aaatattfiy a few of tha lan?r Irw by ai a. Tha failure* atifl continuad, and bouaaa p wara oonaiderad abort luflpMOB cam* down tba fanaral ?a?h Tha da Ma of othara tiara " aaa ,mad by partKM who ara rafard<v| M ? riantly ?tr Bg to tr^-t Umlf litiV !,a?, but It ia doubt 1,1 ?baUiar Utayn . l b<- a'>M to < ro.tnailv waathar tha ^ m I "port tba aa?.*tanf-' tt. t* obtained noma of IV tt tinyb iaaaha?#r ai.cn \tf?.?lh?? ?aa j>' bafort procurftHt ' / at*; -rv-ta an-' %?-o- ^ i k> tha iktrk of ' i.-'amUnaK' ^nCta warrant *t it r a* LD. .TJKlUJfi rvvu VJlLNici. ailtulioo in rxUoHing its aWaodeeppurt, it I* probable they will get over their embarrassment*. The system, bowever, of endeavoring to maintain Arms that are retten throughout ? radically wrong, for while it cannot remedy the evii, it haa only the effect of rendering it worse by keeping it alive. The only true way ? to let them etand or fall as they are sound or unstable, for all attempta on the part of government to bolster them up mint n the end prove utterly ueeleee. Reviewing the preaent condition of the commercial community in England, the loodoo 7tsu>, which ridiculed our predictions two months since, says "the truth came upon us lent October like a thunder clap. We had no id?a but that we were full of property, but wo then found that our fancied property, instead of constating of merchandise, gold, or foreign debts, consisted of nothing bet accommodation bills figuring in bank assets for the y nominal amount, and in some instanoes not worth the stamp on which they were placed." Here, *thos, w? have a proof or tho rottenness of the system on which business was conducted, and which, as we had predicted, would eventuate n a grand (lnaiK.ial crash. On the Continent tho effects of the revulsion were al moat m severely r?lt m in Kngland. Is Berlin, as w? have stated, over fifty houses failed; la Stockholm twsatytwo failures occurred; a dor.en in Warsaw, soda targe number of failures occurod in Paris, Mamtmnr, Vienna, Amaterdamand other cities. The following is a bst of thosa whose names have been published, hut the failures which have not appeared a prist are still vers numerous:? FAILURES ON THE CONTINENT. NAMES or BaNKKlTFT FIRMS IN suitor* WIIOHB HAr B1L1T1SH AND ASSETS ASS NOT STATED. P. ArnowJHamburg. Bourdon, PeBuit A Co., Paris. If. Broe?un, Jr., Ilambcrg. F. C. Bahre, Hamburg. Rarberk A Wall, Hamburg. HarwuFRor A Co , Altona. Mergers Nachfolger, Altoirn. Itooe A Riehter, Hamburg, tlroustcd A Co, flauiburg. Busee A llAlste, Hamburg. < ampe A Beyer. Hamburg. Cellard, Genoa, Milan and Turin. * Oordes A Gronerneyer, Hamburg Coster, Brnnawtg A Co., Hamburg. Kschcls. Hamburg. August Fedderien A Co.. Hamburg. Cnilrnamp Brothors, Amsterdam. Gutmarra A Co., Paris. C. Godett, Hamburg. John ilnvt. Hamburg. J. F. Grose, Hamburg. F. Gnnn. Hamilton, Korn A Co.. Hamburg. Hermunn. Sever, Kintz A Co , Warsaw. Heme A Fleiebmann. Hansen A Johansen, Altona. l^cvi Herz A Son, Altona. J. F. Hinck, Hamburg. J M S Hoffman, Hamburg. H iber A Haupt, Hamburg. Hugbor, stobart k Co., Hamburg. IIiiIh*- k Co., Hamburg. J. C. Jaeoby k Sob.Hamburg. .1. I*. N. Jabncfco, Hamhitig tl. J. Johns Sohnn, Hamburg Cebr. Kalkmann, Hamburg ?. Kraft, Hamburg Iav*ty k Koch, Hamburg U. II. I,utze k Co., Hamburg J. I". landmark, Hamburg. Von l.o?geii. Hamburg J. loin or k Co., Hamburg. I.. K. lorent Amende k Co., Hambtrg. John Muuroo k Co., Pari*. Uullor k Krxulor, Hamburg J. Mi Dor, Hamburg. V. E. Mo*or, Altonu V A M n.ojg, Album Orerbeclc. Hr*m?n. H. Htlengtrom k Co., Aitona Eottnpj'idon Ik Co., Hamburg J. k W. IVtors, Hamburg K. F. I'lnckornriio, Hamburg. I'ralo k WubhB. Hamburg. II. Rurhor. Hamburg. ?;?b. Ku>-boa. Hamburg. W koo. Ham b org Rahnarlua Nachfalgor, Hamburg. .7 J IliomobBcbiioidor, Hamburg. B. Kouoou, Jr.. HauiSurg Cob. Rubon. Hamburg Haeaenborg k Moyer, Bremen. C. A StaoioD, Hamburg. T. 0 shubach, Hamburg latin Hnrtz "hone, Hamburg, Schmidt Jon, AJtona. Tb bcbmidt, Jon Altona. Anton McLruodar, Hamburg. C. II. Sr.hrondor. Hamburg J C. Si bultro, Hamburg W Roitf, Hamburg. Siooklng k Ob., Hamburg J. B "pound, Hamburg L. Atonfaut, llamburg. I Thiol a Co , Hamburg Voir fit * Schmidt. Hamburg, Vitte k Kamaiel, Hamburg Wagoner k Dirt, Alton* Conrad Warncte, Alton*. J. I. Wedek'lid, Hamburg Wt?Hn| k <'?rdM, Hamburg. W. tb rn Manke Kn lil'olgor, Hambirg. WinckJrr A N'utl, Hamburg Wurtenhoff * Fiper, lUnibirg. 7ahn fc Vine, Alton*. total cumber of tlrm* M nivrh or aANiitrrr finmh rn mon, wrrn nam I.MbU.TIVH. Huborg * Cremer, Hamburg $2 MO,OfX) K Illaita k Hehombur|b, Hamburg. 6,nl?,noo Hlrrrh, If"** k Cotaettin, grain. 11,600,000 Poueoa, I'hitllppe * Vlberte, fir i 3,000,000 L'tlberg At Cremer, ftwedleh trade Hamburg.... 6,000,000 Total $27,000,000 Tetal number of firm* I The total liabilitiee on the continent of Tu* rr.fw wit probably amount to about three hundred million* altogi-thrr, aad the aeaele to about ?uty mulioan The paaic <r?atrd by tba reeulmen m Vienna aod Carta waa terrQc, and aucb ?aa the rflbct upon lomeaf the bankrupt* that thay vrn.anuad Micide wh.lr tabor .or unler mental daprae-ooe. Tba goeernBin of Wweden and Norway, with tha new of pre rent. ing the utter daatrurtion of aomo of tba eilemuvo otok lahmrol* which failed in Uiaao countr e*,are endeavoring lo procure flnaiKual aeoatao'-r ia Digioal through ther antliortaad agrot*. Tho *u? required la east to b* 2,600 000, aad application I* to bo made tberefor to the Rank of England?tba boneea aaking for llta 'oan, ao cording to tha propo**! irrupmwt, being obliged lo make orer aatiafhru.ry eer.urity far tba amount da meaded The gorerwment* of Norway and Wweden are both urged to tha meaaureaa 'ha beat and apparently oety wny of preventing a large port too of their population freak batag thrown out at employment In Ceo mark effort* are befog made to obtain a loan of abuitf three aulltaa doHara; mi tt a aaid that tho Committee if Drputwa of the Ktcbange, tha Raak and tho F'aarrr Department, intend preooattng a petition to the Misietar of f'inaaoe for tba p.ram of *eeurmg it We are further informed Wat there a tvarp Itopa the required aid will ba granted-. the wore rape . ?fly aa th* goremment baa mnuii ?* ww?s m wleufl froa the payment* on aseuoai of th* Bouad doe* " Ail baa Wc grmetrd by tb? National Baafc of v >im to ftrwa in Hamburg to th* amnnat of fonr million* of dollars, and with thia aaaataix t a number of thean bare baas aaabied b> reran* operatKwa Kfbrt* ara ataobeiag wad* in faglaad?hut wo ara art told with what auroara? by the ago ate of tio>wea o Hamburg to abtaia laaaa Whether they cbiaia bow or lot tho raaaJlfwiP, doubtleae, b* the name They Will araatually Ibll?th* **r*t*nor they racetra o?iy oar Tag to retard, act aroraat, their downfhJt. Amount* fraaa Haiabarg ?tat* that, althoafh n oae week about twenty mllltoae of dollara n rlrer ha l arri**>! ia that elty, failarea bad ?'i' needed joe ar it her without latermiertoo. The amount of Bllla af e*. haago proteat*d ainre the row menrcir"tit of the ,:rei? n e?t mated at thirty mill one of I ollara The only failure we hear nf from Aaia ia the hot ae of roy'iri k Co., Smyrna hut wa hare ao doubt that 4 t* tot Ute ooly caw ?f uy?t?*acy, mr ardh lathe -art th* Iffer'a of the crWie are laid to hare hee* quite oer?r*. Ta all ihr fki.'nrei th? -aiae* h*reb*ea iBrarahly tb* erne-e pern'at too b??e|u;ooan umluo aipana.no of th* redit eya'eir eatraragonee o Unog, and eiceratro war ifoctnree. Boo wot Tn*A ma.? Th? production of't# Iramit ii aid nure'ruin *j>ectae|* of" Maaapya" at thiehouea Iwt'rea>?r draw a crowded an 1 appreoiatiro atidioar* Manage* ddy appear* to ho de'qpwm.d ait to bo autdooa ami roordiagly gratiflea hl/pdee with two fUll cowpame*. ho i>erformiuic? wa* fully equal to aay pre* on* wraalo*. Dd win r>r?lt?l w th Ttctfffou# domOnetfW OOB )f ?probation Mr Fitzgerald played Wa?n>pa with tutor,ted TlRof, enhihtt ng truly rorreatiao merg j. Th? Ui<?r character wore m?\ < u?tamed, nod tb* wild horao, White Clouil. im unusually <*|>tr*t??l rerhaps if th? lontitaina had beep a little ''orp'r and the " hill et?ee V, r On- wild how a Utile 'eelcr, tlta boys would hare boon etter satisfied, but ..o li? whola everything passed off lU?<artor ly i-vtiv1 ty , * . n ill the pit r t down .-i? te bill*. ctr ting far * i ?w?oty barrel over the i-ads ot tli cri > ' v "? "t a.' 'In tore an ijwrt t'M IaI" Jar i?l4 Mr. fi'St. ,ging, ant ft si a'- i i if ' . > ? ng ni?e* n i*tt? 01 ?lw> toi>HJ :m.04