The Press.
London, England, 1856-06-21 00:00:00

pug parka lath Qt itg Illtiligentr.

FRIDAY EVENING.
THE return of the Bank of England for the week ending
the 14th of June shows the following chamos compared
with that for the week preceding:—
Decrease in Circulation..
Increase in Public Deposits
Decrease in Other Deposits
Decrease in Government Securities 455,858
Increase in Other Securities
Increase in Bullion . . 370 374
,

Increase in Rest ..
Increase in Reserve

Bullion iu Both Departments
Circulation, including Bank Post
Bills
The principal elements in this comparison are again
favorable. They are the addition to the stock of bullion,
and the increase in the reserve of notes, which together
amount to 1,096,0991., the position of the Bank having
been improved to that extent. As the Government Secu
rifles show a considerable falling off, it is inferred that
sales of Stock have been made with the object of adding to
the Reserve. The increase in the Public Deposits is
mainly owing to the payment of the twenty per cent. in-
staltnent upon the new loan yesterday week. This item,
nevertheless, is but low in relation to the dividends about
to become payable; but it will be increased nest week by
the payment of another twenty per cent. inst flment upon
the loan amounting to 1,000,0001. The small addition to
the " Other Securities" is worthy of notice as showing the
extremely limited amount of the Bank discount trans-
actions.

We have had an easy market for money all the week,
and no symptoms are apparent of any immediate change.
The banks and discount houses are well supplied with
cash, notwithstanding that the present is a month when
large amounts of capital are locked up in revenue pay-
ments and in reserves for the liquidation of the public
dividends and the dividends of a whole host of various
descriptions of joint-stock undertakings. This state of
things is primarily due to the confidence that continues to
prevail in the soundness of our home and export trade, to
the more satisfactory aspect of the unsettled questions
with the United States, and to the universal anticipation
of lower rates of discount consequent, among other causes,
upon the influx of gold. In the present week the Dorn-
, bard•street houses have been transacting the best class of
their bill operations at four and a half per cent., being one-
half below the Hank minimum, and in no cases have they
required more than four and three quarters. These terms of
course have attracted almost all the bill circulation from
Threadneedle-street ; and, so far as we can hear, there is
no prospect of any considerable return, unless a large re-
duction equal to one per cent. is made upon the Bank
minimum at the very earliest opportunity. The Bank,
with an accumulating reserve, would under these circum-
stances naturally be losing one considerable branch
of ordinary banking profit; but in, the current week
it has been deriving compensation from its profits
on the loans and advances which are always made
during the shutting of the transfer books. The repay-
ment of these loans early next month will again
strengthen its reserve, while the diffusion of the
public and other d.vidends will cause an abundance of
capital to be waiting employment. From this reasoning.
which is common in monetary circles just now, the infer-
ence is irresistible that money must be at least one per
cent. cheaper than it is at present at a comparatively early
period in the ensuing month, it not before.
Political events have also concurred to reassure the
Money Market and to strengthen its position. The
Government announcement made in both Houses of
Parlisnient on Monday that Mr. Dallas, the American
Minister, would not be dismissed, and the conciliatory
spirit which animates all parties in the State in reference
to the existing causes of difference, has ever sine exer-
cised a wholesome influence upon the Stock Exchange
markets. The immediate effect was an improvement in
the value of all descriptions of securities ; and there has
been no subsequent reaction of any consequence—a clear
proof that the sensitiveness of the market during the pre-
vious fortnight arose from political rather than from /man-