The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1855-09-18 00:00:00

The Gazette returns of the last and present week will
doubtless exhibit diminutions in the amount of notes unem-
ployed and in the stock of bullion calculated to excite anxiety,
but for the knowledge now afforded previously to their appear-
ance that a vigorous check has been applied. Little question
seems to be entertained that the instalment of £1,000,000
sterling paid yesterday (Thursday) on the Turkish loan will
forthwith be sent in sovereigns to Constantinople, and that
during the next five months the remaining £3,000,000 will be
despatched in a similar manner. The Australian arrivals,
moreover, are still delayed, only £176,000 having been received
out of £BOO,OOO that may be considered due ; and, finally, the
extraordinary firmness of the corn market in the face of a
satisfactory harvest at home, and of an unusual surplus in the
United States and Canada, has disappointed all expectations,
and led to the transmission of large orders, accompanied by
specie, to the Danube and elsewhere. Under these circum-
stances the Bank had no alternative in deciding upon a fur-
ther and immediate rise, especially as there was not the
remotest prospect of its suddenness causing panic or even
inconvenience in any quarter. Although commerce has lately
assumed increased activity, there are no signs of undue specu-
lation either in the manufacturing towns or on the London
Stock Exchange, and the news of the fall of Sebastopol has
imparted a feeling of confidence, the effect of which will be
much more powerful in sustaining trade than that of the
present notification in depressing it. There is, consequently, no
reason to depart from the conviction that everything will go on
smoothly, and that, even if further measures should be requisite,
they will not produce any disturbance. Some persons are disposed
to believe that a return to 5 per cent. will be adopted before the
close of the year, but the drain of specie just witnessed has
been so sudden, and has so evidently resulted from a combina-
tion of unusual causes, that it will be against all experience if
an early reaction is not witnessed. The Bank of England rate
for advances on Government securities during the shutting of
the transfer bpoks has been raised simultaneously with the
rate of discount, and will now be 4 instead of 31 per cent.
The discount houses to-day were unprepared for the step
taken by the bank, and resolved to delay till to-morrow their
decision regarding their future rate of allowance for money at
call. The joint-stock banks advanced their rate for fixed de-
posits, and the London and Westminster, the London Joint-
stock, and the Union now allow 31 per cent."

The return from the Bank of England for the week
ending the Bth of September gives the following results,
when compared with the previous week :
Public Deposits ... £7,591,337 ; Increase ... £323,368
Other Deposits ... 10,979,353 ; Decrease... 127,665
Rest ... ... 3,637,340; Increase ... 8,617
On the other side of the account :
Government Securities £13,031,088;
Other Securities
Notes unemployed

The amount of notes in circulation is £20,142,150,
being a decrease of £37,475, and the stock of
bullion in both departments is £14,217,376, showing
a decrease of £721,742, when compared with the
preceding return.