The Daily Times.
Liverpool, Merseyside, England, 1860-12-05 00:00:00

THE BRAZILS.

The Royal Mail Steam Company's steamer
Tyne, Captain Jellicoe, with the Brazilian and
River Plate mails, has arrived off Hurst Castle
telegraph station.

• INDIA:
A telegramj,esierd4t to the
November quotes the rate of exchange .24 d, or ahont
per cent.. legs faionralll6 for this country Rupee
paper without alteration the Five pGr Cents.; being at
97k, and the Five-and7a.,-11all,Ber Cents. at 1021.
There was no later newa.front China.

VIE AgERICAIS). ORIgI
The Times is of opinion that the New York advises
received yesterday show that in the three days, frenahe
17th to the 20th Nov. the panic liad reached its climax,
and that a reaction had apparently commenced. Just
before the departure orthe mail, the favourable turn had
been brought about by the joint measure of sixteen of
the principal banks. Any further delay would have
resulted in a general suspension in some of the principal
branches Of business, and especially in- the
.grain trade:
The. New :York e±pOrters *ere
.in
_this pesthdn. They
ieko, drattghq T0440,i blr. the Western
houses for grain and- other produce transmitted.td Nevi
York, and their legitimate means of meeting these
draughts consisted in the sale of bills upon the European
houses to whom this produce is consigned; but such
bills had at length become totally unsaleable, and a
stoppage of payment therefore seemed inevitable. In
that case, the break up of the New York export house.;
would have been followed by that of the Western pro-
duce dealers, and these in turn -would have brought
down all the Western banks to which they are indebted
tor, adVances. The Coifferente liehteeli_the bankit!g
houses resulted in a resolution to purchase bills of
exchange on England in the open market to an
ail-mint equal to £500,0000 ; each bank contributes
pro rata to the paynient ; meanwhile, transactions had
been large, at 100 to 102 for merchants, and 103 to 104
for bankers' bills, and the Times thinks it will probably
be found that the public have subsequently continued to
keep up with the bank biddings. Some impression pre-
vailed that it was the intention of the banks to remit
the bills forthwith to %rings', with orders 'to have them
discounted and the Amount sent back in gold. Private
letters, however, state that they do not contemplate any
summary proceeding of this kind. In any case the
affair is not likely to have a very important influence on
our money market, while the effect of the arrival in
New York of £200,000 or £3110,000 frbm this- side,
coupled with the steady receipts from California, may be
estimated by the fact that the drain from the, north to
the south, which has caused all the present confusion,
is believed not to have greatly exceeded half a million
•
sterling. •

The Bombay mailiarrived at Marseilles yesterday
morning.
His excellency the Count Do Persigny will icave
London this day for Paris, to enter on his official duties
there as Minister of the Interior.

A pastoral of the Cardinal Archbishop of Westminster,
on the late Duke of Norfolk, was read in the Roman
Catholic churches on Sunday, and is published in to-
day's Times.
A letter from Dr. Livingstone to the Bishop of Oxford,
dated April 7th, is published in the Times. He says
the French have a strong desire to enter before us into
that part of Africa explored by him.