The Press.
London, England, 1857-10-03 00:00:00

glaneg Market altb Ordttg (nttiligenct.

FRIDAY EVENING.
THE return of the Bank of England for the week
ending the 26th Sept. shows the following
changes compared with that for the week preced-
ing :
Increase in Circulation
Increase in Public Deposits
Increase in Other Deposits
Increase in Securities
Increase in Bullion 87,528
Increase in Rest
Decrease in Reserve
Bullion in Both Departments .... 11,270,088
Circulation, including Bank Post
Bills 19,031,231

The main feature in this comparison is the large
increase in the Public Securities caused by the acti-
vity of the demand for money last week. It amounts
to about three-quarters of a million ; and in order to
meet it, the Bank was obliged not only to employ the
whole of the additional deposits both public and pri-
vate, but to make a large inroad into the Reserve.
The diminution in the Reserve, indeed, neutralises
the increase in the Bullion, the more especially as
we are tolerably sure that the stock has not been
enlarged in the current week. The Public Deposits
now approach eight millions and a half; but they
will soon be rapidly diminished by the ordinary pay-
ments of the quarter and by the release of the divi-
dends.
Money has been in most active demand all the
week, and the pressure has by no means subsided
yet. Rates consequently have been firmly maintained
at the Bank minimum. Indeed, indications have not
been wanting of a disposition to enhance the terms,
as, during some days, the supplies were not very
liberal. This apprehension, however, has now passed
away, but no hope can be held out of money for the
remainder of the year being lower than the present
rate of five and a half per cent. On the contrary, there
is a strong impression in many quarters that the
value of it will Ilse to six per cent. The market,
by the operations of the week, has been left in a
sensitive and rather unsettled c3ndition, and it will
probably so remain until comparative steadiness has
been restored by the dispersion of the October divi-
dends, the payment of which will commence next
week.
The most important feature in the bullion move-
ments of the week has been the amount of gold
taken for the Continent in payment for silver. More
than 300,0001. have been absorbed in this way. There
is at present no gold bullion in the market, and con-
sequently some amounts have been taken from the
Bank. The Bank, however, received about 30,0001. in
the early part of the week. The imports of the week
have been nearly 500,0001., more than half of which
is in silver. Silver, however, is scarce, particularly
bars, and the price has advanced Id. to Id. per
ounce, but dollars are unchanged. The packet leav-
ing Southampton on the 4th will take out for India
and China about 400,0001.

The foreign exchanges are tolerably steady and
rather favourable than otherwise. The leading banks
in Holland and Germany are requiring higher rates
of interest. Indeed, money on the Continent is
generally tight.
Since our last we have received advices from
Bombay and Calcutta, bringing news from the upper
provinces to the middle of August. We wish we
could say that we saw any improvement in the state
of affairs in the disturbed districts. The chief sources
of anxiety are the fate of the garrison at Lucknow
and the position of General Havelock ; and against
these we have only to place the fact of reinforcements
to a small extent having proceeded up the country by
the rivers. As to Lucknow, there is reason to fear that
the wtrst has happened; and as to General Havelock,
we need only refer to the apprehensions of the Govern
went themselves, contained in the official telegram