The Daily Times.
Liverpool, Merseyside, England, 1860-11-16 00:00:00

THE MONEY MARKET,

DRA:tx OFjA MILLION OF GOLD FROM THE
BANK ON FRENCH, ACCOUNT. -,
The Times says that the contract made by the 'Bank
of France with the bullion dealers is for one million
pounds . instead .of £500,000. In addition to the
£300;000 withdrawn. on Tuesday £333,000 Was t4ken,i
yesterday, and p 365,000 more is expected follow,.
The Times says that the applications Mr disoaunt at the
Bank, which were on Tuesday of A very moderate'
character, were yesterday eitraordinarily large, mainly,,
it is believed,. to prtivide apinst the contingency of a
further advance in the rate at the weekly court to-day.
The return made up last :evening will probably show
that the bullion has.been reduCed to about £13,900,000,
and it must be eipeeted that neit week the figures will;
at the best, be down to £12,800,000. There is nothing, '
however, in these prospects to lead to the idea of any
very violent aetionbeing necessary. While our banks and
capitalists are reaping higher remuneration for the use' of
their money, the rise in the value of that article checks
the upward tendency of foreign produce, and especially •
of the great staples now most ,in denland--,Lcorn and
cotton. Ourhome manufacturers find, thentstlires partially
interfered With, but, as a geratal ?kV, Ruder a healthy
condition of commerce it it Alway-s raw produce that is
most liable to suffer Whenever there .is a scarcity .of
capital.
The Times reports that discount houses have raised
tlAr,allowaaces on deposits to 4 per cont:' for money. at
call, •and 41, per cent., with seven days', notice. The
joint-stack banks have also increased their rate'to.4 per.
cent : the London and Westminster, however, giving.,
only 3 for sums below £5OO.
The Daily News say's that in the discount market,
yesterday, exceptional transactions occurred in the best
short bills at 41 per cent., but in most quarters the terms
were from. sto 51. For any bills having more, than tro
months to run much higher rates were required,

- FRENCH FINANCE.
The Times shows some connection between the French
imperial policy and the present bullion difficulties of the
Bank of France—:-Since the autumn of 185 the banks
of France and. England have experienced a drain of
£15,000,000. It is hard e'-en Tor England, with her.
to-mindless, trade- and: extraordinary credit, to maintain
the scale of expenditures now being fOreed upon -her ;
but for France, the financial policy of the Emperor
must sooner or later be ruinous. In Syria and China
the outlay must have been immense. The French army,
at Rome, has been maintained on a scale of increased
costliness., In the midst of all these charges France
has parted with 800,000 f. to the Viceroy of Egypt, and
is every day augmenting, in every, quarter, the expenses
of her armaments, and also of her diploniatie establish-
ments.

Lord John Manners and Lord Stanley are on a visit
to Mr. Disraeli in Bucks.

A number of members of the English bar propose to
invite M. Berryer, the distinguished Preneh advocate, to
a dinner to be given in one of the halls of the Inns. of
Court.

The Himalaya, the screw steam-frigate Orlando, the
paddle-wheel steam-sloop Gorgon, and another ship have
been appointed to take a position 250 miles west of the
Scilly Islands, and there to form; ext,:nditzt, north, and
south, so as to lie across the coarse of the Hero and her
consorts, and either to receive the Prince of Wales or, to
return to port and early intimate the approach' of his
Royal Highness.