TEXAS. THE land of loveliness and genial clime, And healthful airs that check the march of time; Where spreads the prairie, nature's own great mead, Inviting her untamed ones to feed. The wild mustangs, with free and floating mane, Like cavalry, career along the plain; In wrapt suspicion hears the rifle's crack; O'er which the creeping shadow slowly glides The silver-threaded brooklet gently wells towers, Form amphitheatres adorned with flowers. Now, having scaled and passed the wooded top, Check thy descent, and, lest thou trespass, stop; And casting o'er the blooming scene thine eyes, The fair construction of the tiny throne, A polished ivory of finer grain. Her softly-cushioned seat, plush-covered see, And lashes fringed their microscopic eyes. To sheathe the sceptre waved to mark her will. In strange design and rich variety. Four elves did in their travelling dress enrobe Then spread a carpet thickly velvet raised, Near where from rock to rock down drips a rill, When, crossing to the throne to take her seat, And yield thyself to fairy-working will. As fine as yield the threads of silk worm's cones That vibrate to the rose leaf gently waved, Will weave around the brain thus fay-enslaved, Strange fantasies, ne'er told: Then thou wilt dream Dreams delicate, that, as thou wak'st, will seem Like glimmering far floating gossamer, Just vanishing, while gentle zephyrs stir, And through the meshes play so soft an air, "Twill leave a doubt if sight or sound were there. [shown Now, lest perchance, you may not have been 'Twas lightly trodden by her tiny feet. One, in the region of the shortest day, One sought a cave where lasting darkness dwelt, And by a running stream herein he felt Begun at eve, when first the morning broke a mate, Mab issues laws that guide the course of fate. Alone in the wide prairie often seen, 'Tis here the Mexic's broken faith will warn To crush oppression and maintain the right; Where gently swelling plains and wooded slopes See tender fawns disport like childhood's hopes; Where tall pecans, symmetrical, abound, And in its scattered growth, not seen to meet, But share them with the crumbling walls of rock, That witness ruthless War's destroying shock. And gain an honorable safe return, On faith of Mexic honor pledged and sworn. In peaceful times the muse neglects to sing- cost. And thus at bay, with bold front still opposed, Until the last man dealing last fell blows, Convinced that votaries like these would yet set. In homes o'er which the star-striped banner waves, Loud wailing rose for the unburied braves; And freemen swore by Liberty's great cause, To cease enjoyment of her gifts, nor pause Until, as dread avengers, they should flood The stains were left by Crockett, Travis blood With streams as crimson, and dispense the meed Of coward triumph and demoniac deed! Where San Jacinto's placid waters flow, To carry all before them in their course, Triumphant Mercy waving high her wand Ensanguined by the blood of heroes shed That marked its rise, and gave a nation birth, Of good, with which the nation should abound, Let none gainsay the glowing prophesy, to rest, And 'neath the eagle's wing has hid her crest. O, great Columbia! what wilt thou be? To share with them the blessings are thine FINANCIAL AND COMMERCIAL REVIEW. DURING the mouth, affairs have turned mostly on the nature of the advices, which almost weekly reach us from Europe; and our dates down to the 5th May, are of a nature to hold out no encouragement. Commercially, they are by no means favorable. England indeed remains quiet; but the utter dislocation of business relations, growing out of the affairs of the continent, is gradually working out results that cannot but be disastrous. The aspect of affairs in Europe is such as to make fears of a general war more reasonable, and of course commercial credits are on the wane. In Paris, as a centre, the course of events are downward. Parisian credits are utterly unavailable in all the cities of the continent. No one will trust paper payable there, as well from fears of non-payment as in respect to the medium if actually paid. Those who have made Paris a place of residence, have left in great numbers, as well from fears of the future as the difficulty of realizing remittances; and daily the desire to realize property and emigrate seemed to increase. There was no disturbance, but a quiet "rush to get out." The affairs of the Bank of France are indicative of the general course of things. That institution suspended March 15th, pursuant to the decree of the government, and its leading features have been since reported as follows: BANK OF FRANCE. March 15. March 22. .5,676,199.. Specie.. Loan to government, Deposites.. April 27. April 1. April 13. April 20. 524,747.....2,704,274.....7,143,579.....9,410,749. ..9,162,600.....19,655,541 .9,743,050....19,805,489....17,636 547.. .22.899, 104. .303,377,610...301,159,031...275,696,537...279,007,903...271,066,602....187,018,796 .123,843,509...108,243,516....96,834,947....92,344,196....88,739,135. 50,000,000....50,000,000....50,000,000.. ..14,061,804 .88,705,534 .50,000,000 .61,520,282 .26,360,908 .275,440,512...285.080,202...302,652,695...311,320,800...310,054,592....317,990,350 .81,617,659....77,272,963....65,454,515....61,747,940....59.442,981. Deposites, government...42,255,092....19,759,754....49,331,669....43,977,428....36,885,365. These features develope prompt and speedy ruin. The overdue paper increased 20,900,000f., of which 9,000,000f. was protested in four weeks. Ten per cent. of the discounts remained unpaid as they fell due! This shows the general non-payment of debts. If that amount represented altogether dishonored bills, it would certainly be greater than usual. Yet it is well to remark, that it would be far below the sum which was attained from 1830 to 1831. On December 27, 1830, the amount of dishonored bills was 4,112,000f., and the year 1831 carried it to 5,202,000f. But the loss of the bank was then not one half of that sum. In the same time, week by week, the specie diminished 30,000,000f.; the circulation increased 36,000,000f. by loans to the government, and withdrawals of individual deposites; and the notes were at 3 per cent. discount. It had been proposed to extend the circulation to 700,000,000f., double the amount which the government guaranteed should not be exceeded. The decrease of deposits, amounting to more than 25 per cent., is, under the circumstances, when money cannot be employed, a positive indication of the want of confidence. In times of prosperity, the amount of private accounts is not so great. Revolutions in general cause funds to flow into the bank, because, of all places of deposit, it is the surest. In 1830, the accounts current were 79 millions, and during the agitations of 1831, they reached 106 millions. During the year 1847, the average amount of the accounts current, was 50 millions; in 1846 it had been 60 millions. The bank, in moments of difficulty like that which it is now passing through, has a credit superior to that of the state itself. And the general fall in all property, particularly stocks, caused by the anxiety to sell, is estimated in La Presse, according to the prices of February 23d and April 13th, as follows: This is a real loss—but has not as yet been experienced by a majority of holders, because they could not realize at all. As long, therefore, as they continue to receive dividends, the property is to them good; but these dividends are now payable in a paper rapidly depreciating; and by reason of the desire to realize all descriptions of goods, the prices yet keep low. It is to be remembered, however, that production is nearly stopped, while exportation, to obtain money, and consumption, are rapidly dissipating existing stocks, and the capital of the country is disappearing. When scarcity of goods and produce succeeds to depreciated paper, the actual loss above estimated will be felt. In the meantime, the revenue for the 1st quarter of 1848 has declined over $16,000,000, as compared with last year, although two-thirds of the quarter elapsed before the revolution.. Means of expenditure is the only support to the existing government. These are matters not easy to accomplish; and a year will be a short time in which to perfect it, if done at all. How can the present provisional government maintain order during that time, amid all the strife to which the debates in convention will give rise? This is the source of solicitude. The demonstration of the disorganizers under Ledru Rollin, and its suppression by the friends of order, affords a parallel to the Chartist display in London, the effect of which has been to restore confidence, in some degree, in the stability of England; or rather, to check for a moment, the progress of discredit. From all parts of Europe, the English gentry and nobility have flocked home, accompanied by refugees of all nations, not excepting Prince Metternich. By this means, a demand for English funds by foreigners had sprung up, not sufficient, however, to sustain prices, while the large expenditures of those wealthy classes that have heretofore been made upon the continent, are now enlivening the home trade of English cities, and giving the appearance of an improved business. This, however, is deceptive; the trade of England, and the employment of her people, does not depend upon the home trade; which, however, subsequently declined, under fears of popular dissatisfaction in the large towns. The cotton trade affords an instance. The total manufacture of 1847 was £32,467,000; of this, £22,900,000 was exported-a very large proportion to those European markets now closed, and the number of hands out of employ was on the increase; those mills in operation were only encouraged to ac cumulate stocks of goods by reason of the remarkable cheapness of raw material, money, food, and labor. All of which concurred with the improvements in machinery to produce cotton, linen, and woolen goods at prices far lower than ever before. Nevertheless, there was no adequate vent for goods, and therefore the great business of England was not on a heathy basis. Money continued to accumulate in the hands of lenders, and the rate was 24 a 31 per cent. per annum, without the slightest disposition to embark in any enterprise, notwithstanding the cheapness of goods and produce. The markets were, indeed, pressed with merchandise from the continent, sent to realize. It is known, however, that immense losses have been incurred by the revulsion of the past year, and that following those disasters must come a flood of dishonored bills from the continent; the effect of which is yet to be seen. Hence there is ample ground for distrust; and should the fears that are entertained of a short harvest be realized to any extent, an awful state of affairs would follow. There was some increased disposition to invest in American stocks; but the chief difficulty seems to be the want of coupon stocks transferable by delivery. The ceremonies attendant upon book transfers, are fatal to an active business. A considerable amount of |