The Press.
London, England, 1856-07-26 00:00:00

glontg Parhtt Intl) Citg Ilt.elligturt.

FRIDAY EVENING.
Tag return of the Bank of England for the week ending
the 19th instant shows the following changes compared
with that for the week preceding:—
Decrease in Circulation . £3,404
Increase in Public Deposits
Decrease in Other Deposits
Increase in Government Securities
Decrease in Other Securities
Decrease in Bullion
Increase in Rest
Decrease in Reserve ..
Circulation, including Bank Post
Bills
Bullion in Both Departments
This comparison scarcely encourages us to hope that the
Directors will reduce the rate of discount so early as next
Thursday. It is evident, however, that they have been in-
creasing their temporary advances to the Government;
but, on the other hand, the public balances are higher,
notwithstanding the payment of the dividends, and, as they
will be further increased by the receipt of the loan instal-
ment paid yesterday, the Reserve will be stronger next
week, in all probability to the extent of 1,000,000/ , unless
the Bank has had heavy demands upon it within the last
day or two, which is not very likely. The falling off in the
Bullion is inconsiderable in relation to the demand from
the Continent, and it confirms the views of those who have
asserted that the commissions from the Bank of France
will, if possible, be executed without drawing gold from the
Bank. In other respects the return calls for no special
observation.
Money is cheap, and there are prospects of a farther re-
duction inits value, owing to the supplies in the hands of
the joint-stock banks and discount establishments being so
considerable as to induce increasing competition for the
best legitimate bills. In fact, the attention of a portion of
the public who ordinarily keep good reserves at their
bankers has for some time been directed to the large and
safe profits derived by the existing establishments from
discount operations ; and a very appreciable amount of
capital, which otherwise would have been absorbed in per-
manent investments or common deposits, is now being
lent at call to be employed in these transactions. The
means so accumulated have (luring the last fortnight been
increased by the application of no mean amount out of the
dividends now being paid by the State and by different
public companies. Thus an abundance of money is now
seeking for returns from this special employment, and
hence discounts are ranging from three and a half to three
and three-quarters per cent. at the outside in the open rear-
ketat a moment when the Bank of England, long presumed
to be the sole guide in fixing the value of money; requires
a minimum of four and a half per cent. The power of the
B ink to regulate the market is consequently falling away, at
least for the time. Under these circumstances there has
been no pressure during the week. Every legitimate de-
mand for accommodation has been met ; and, as far as we
can learn, the mass of acceptances have been done under
three and three-quarters per cent. Yesterday the payment
of a twenty per cent. instalment upon the loan, amounting to
1,000,0001., caused some extra demand in particular
quarters, but not the slightest inconvenience was felt; and
today the market, in all its departments, has been per-
fectly easy, although some establishments received rather
more bills than they anticipated. The anxiety caused by
the aspect of affairs upon the Paris Bourse, anti the demand
for gold on French account, though not entirely removed,
is greatly decreased since our last.
The specie imports during the week have amounted to
about 210,0001. in value. Of this amount 150,000/. is said to
have been on French account. A considerable amount of
Australian gold snow due.
Consols are much the same as this day week ; during
the interval they have been as low as 951 for account, but
they soon recovered, and to-day they left of at 951 to
Business has, on the whole, been exceedingly inactive.
Money investments, for the most part, owing to the causes
stated above, have been very limited; while speculative
transactions have been arrested by the diversion given to
the capital just set at liberty.
Foreign Securities have been well supported. The prin-
cipal dealings have been in Turkish, Spanish, and Vene-
zuelan. Qultations range, for all other descriptions, much
the same as last week.
Railway Shares, notwithstanding excellent traffics and
the prospect of good dividends, have not been in much
demand. The heavy lines are for the most part better
than this day week, particularly Great Westerns and South-
Westerns, being influenced by the forthcoming dividends,
but some descriptions were flat to-day.
Business has been tolerably active in Joint-stock Bank
Shares during the week. Miscellaneous and Mining Shares
have also been more extensively dealt in.
The trade reports received during the week continue of
a favorable character.

At a meeting of the Unity Joint-stock Bank, on Tues-
day, the directors were authorised to take the necessary
steps for increasing the capital as occasion may require to
2,000,0001. by the issue of 7,000 additional shares of 1001.