The Press.
London, England, 1858-06-05 00:00:00

Monta 311tritti an 6'41 ittelligeact.

FRIDAY EVENING.
THE return of the Bank of England for the week
ending Wednesday last, the 2nd inst., shows the
following changes compared with that for the week
preceding :

Decrease in Circulation

Increase in Public Deposits
Increase in Other Deposits 377,589
Increase in Securities
Increase in Bullion
Decrease in Rest ....
Increase in Reserve ..
_153,987

Bullion in both Departments
Circulation, including Bank Post
Bills
•
The Bullion and the Reserve continue to show an in-
crease—the former from the importations of last week, and
the latter from large private deposits and the influx of
revenue payments. The Public Deposits are in a satis-
factory state for the period in the quarter, as more than a
month must elapse before the July dividends will be due.
The Private Securities indicate rather a greater temporary
demand for money, and this item will probably increase, as
the Hank is making advances during the shutting of the
books. In other respects the changes in the position of
the Bank during the week are not important.
The Money Market remain% in a very easy and unex-
citable condition, the enormous supplies to hand being
fer in excess of the demand, whether for enterprize or spe-
culation. During the last few days there has been, and
there still is, considerable activity in connection with the
commercial paper at maturity at this time, but it. has been
confined solely to Lombard-street and the joint-stock
banks, applications at the Bank being little more than
usual. The difference in the rates will explain this appa-
rent anomaly, for whilst the best bills are regularly done
in the open market at two and a quarter to two and a half
per cent., the minimum at the Bank remains at three
per cent. Under such circumstances, it is not likely that
much business will be taken to the Bank.
The first instalment of twenty-five per cent. upon the
new Brazilian loan, contracted for by Messrs. Rothschild
and Co., was paid on Tuesday; but, meanwhile, the sur-
plus upon the deposits were returned to the applicants,
so that the effect upon the market was imperceptible.
The interest upon the loan, four and a half per cent., com-
mences from the Ist of June. Next Thursday, the 10th
inst., an instalment of fifteen per cent., amounting to
750,0001., is due upon the Indian Debenture Loan. A
part of this amount has already been paid in anticipation,
and the remainder will be provided without affecting the
market, inasmuch as the commercial demand now appa-
rent will by that time be abated, and there is tittle or no
prospect of an active revival until a later period in the
month.
The Bullion movements of the week show considerable
activity in the dealings in the precious metals. The
principal feature in them is the continuous demand for
gold from the Continent, especially from France, although
the accumulations there, as shown by the returns of the
Bank of France, are as great, and by this time probably
greater, than they are in the vaults of the Bank of England.
The imports since Saturday last have amounted in value
to 606,1311.; and the exports to 616,2821. All the gold
has gone to the Continent and all the silver to the East.
About 50,0001. has been withdrawn from the Bank, and
farther sums will follow, unless arrivals from Australia,
which ere now due, turn the balance in our favour again.
Having regard to the inactivity of trade in France, and
its comparatively slow improvement among ourselves, the
great interchanges of bullion and specie during the last
two months are somewhat perplexing. The solution, to a
great extent, will be found in the fact that the trade of the
leading commercial nations of the world is gradually being
assimilated to the cash principle. Credits are certainly in
course of material curtailment everywhere; and if balances