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ENGLISH COMMENTS UPoN COMMERCIAL MAT
TIERS NEw YoRK.-The CONNIE cial &C counts from
the United States to the 10th ut Of an extremely
unfavorable complexion, and lead to the ectaon
Ct more disastrous st.te ofthngs still when by the
arrival out of the Great Western and the British
Queen steam packets intelligence shall be received
of the gloomy appearance of the money and cotton
markets here. The domestic exchanges there were
already getting into great confusion, and money
becoming scarce, as the want of confidence was
spreading among real capitalists Cotton appeared
to be almost unsaeable, and it is reported from
Charleston, under date Of the 18th ul that since the
las advices "we have not single transaction to re-
port I'm upland cotton,) which is unprecede in
the annals OF the cotton trade in this district Some
offers, 1t is stated, had been made but at prices SO
low that even in the then gloomy state OF things"
holders were not disposed to accept. Reports were
were current Of bank failures in the west but
particulars not given.


Some discussion which all me erchants in this coun-
try ought to read, appears in the file Of New York
papers received today, respecting the moral charac
ter as OF the traders of that city and the
assertion seems to have been haxarded in one in.
stance that "roguery was the rule and honesty the
exception, among them. The circumstances out
OF which the discussion sprung these An action
was brought by the Of the United States
against a merchant fer frauds on the revenue. in
which 1t was proved that the defendant who resided
In that country had agreed with his father who re-
sided IN England, that the goods shipped by the for
mer to the care Of the latter should be inv DICED at
two-thirds OF their cost, and that true invoice
should be sent with the goods for the defendant to
sell them by, and false invoice TO swear by The
letters which passed between she father and son in
which this arrangement was spoken Of as If il had
been the merest matter OF course were produced in
Court, and the defendant present at their pro-
dactlon, listening to them with as little apparent
shame as II they related TO the most ord mary affair
OF business 1t is also stated Of merchant Of some
standing that being the grand jury when informa-
tion was given OF SEINE rcia fraud he refused
to concur in bringing in bill against the offender on
account OF the commonness Of the transaction. The
supposition that roguery is the rule and honesty the
exception, al New York, is Of course absurd, bat
that city is undoubtedly the resert Of adventurers
from all parts Of the Union, who are not troubled
with many scruples as to the mode Of making msnsy,
and who do injury to the fair trader much they
do to the general character Of that great emporium
Of trade-London Times, july IL.