During the latter part of this year a financial hurricane, commencing in the United States, swept over the world. Money vanished from sight as if by the wand of a magician. General health, bounteous crops, and great activity in every branch of industry had prevailed.--Suddenly everything was arrested as though some Titan held his hand upon a brake lever. Peru did not escape the general disaster. Prices of produce became so low that farmers declined to market it, preferring to allow their creditors to wait and suffer the consequences of shattered credit. But few failures, however, took place.--The Banks did not suspend. Nobody failed--nobody ever does fail in Illinois until the Sheriff sells them out or shuts them up. On the 11th October, the Foundry and Machine Shop of Fitzsimmons and Beebe was destroyed by fire. Loss $16,500--insurance $5,500. This establishment had given employment to some thirty or forty men. Thus another of the industrial establishments of Peru went out. It is a gloomy fact, and by no means promising sign, that with the exception of the stores of E. Higgins & Co., and McMillan & Co., no important establishment, destroyed by fire, has been rebuilt. The blackened walls and foundations of the National Hotel, Hoffman House, Lauber's Cabinet Shop, the Chair Factory and the Foundry and Machine Shop betray the lack of recuperative energies. At an election held on the 5th of April, 1858, John L. McCormick was again reelected Mayor, and N. Young was elected Alderman for the First Ward, James Cahill for the Second Ward, and P. M. Kilduff, Police Magistrate. The Council elected John J. Dowling, Clerk; H. G. W. Cronise, Treasurer; T. P. Halligan, Attorney; D. O. Sullivan, Collector; Henry Jones, Assessor; P. W. Milander and Owen Judge, Street Commissioners; W. F. Lambach, Surveyor; G. W. Lininger and Bartlett Denny, Fire Wardens; G. W. Lininger Inspector of weights and measures; A. L. Bull, inspector of lumber and wood; W. H. Foot, Marshal; John Scott and Michael Noon, Assistant Marshals; and A. F. Powers Sexton. On the 7th day of June, the question of issuing $5,000 of ten per cent. bonds, for the purpose of paying the interest over due on the bonds before issued, was submitted to a vote of the people and decided affirmatively by 21 majority. The Spring of this year was remarkable for heavy and protracted rains. The roads from the 1st May to the 1st July were nearly impassable, and the ground was so saturated as to make cultivation impossible. About the middle of June it ceased raining, and crops which were thought to be ruined came forward with remarkable promise. At this present writing (10th July) every indication exists of a full average crop.