The Press.
London, England, 1856-08-16 00:00:00

Riau Mahn ana tit

Fainav Erzeirixo.
Tns return of the Bank of England for the week end!
the 9th inst. shows the following change* compared wi
that for the week preceding
Te-. Tease in Circulation .. Z190,052
Increase in Public Deposits
Decrease in Other Deposits
Decrease in Government Securities
Increase in Other Securities
Increase in Bullion
Increase in Rest
Increase in Reserve

Bullion iu Both Departments
Circulation, including Bank Post _

Bills

This comparison is satisfactory with regard to the addi-
tions to the Bullion and the Reserve. The Government
have evidently reduced the advances upon Deficiency Bills,
while adding rather considerably to the public balances.
The additions to the Private Securities are less than might
have been expected considering the activity of the demand
for money last week; but it must be remembered that in
the return for the previous week this item was very greatly
increased. On the whole, this return does not lead us to
expect, as appeared to be the case a few days ago in some
quarters, an increase in the rate of discount ; nor, on the
other hand, does it justify any present hope of a reduction.
The Money 'llarket, owing to the satisfactory progress
of the harvest, to the greater confidence of British
capitalists in the ability of France, now that its various
crops have been secured, to bear the inflation of the spe-
culative period through which it is passing, and to the le-
gitimate character of our own trade, both home and
foreign, has partially shaken off the anomalies that have
recently been perplexing it. Money is tight nevertheless.
The favorable conditions of abundant crops, increasing
confidence, and profitable trade, remain as described last
week ; but rates continue at 44 per cent., and for the present
we ape little or no prospect of amelioration in this respect.
The anomaly, however, has disappeared of supplies being
short ; and though the market is iu a transition state,
which renders great caution necessary, accommodation
is more freely extended. The position, then, is just this—
that the reserves of the banking and discount establish-
ments are rather full, that they are more liberally em-
ployed, that terms are unchanged, and that a sensible
amount of tightness still remains, enough to prove that
we are not yet upon the eve of that pecur.iary plethora
which it is still apprehended is to inaugurate a dangerous
speculative mania.
The harvest reports of the week indicate more than
average crops, the greater part of which will be safely
housed if we are favoured with fine weather for the next
ten days or fortnight.
A large amount of gold, about 730,0001., has arrived
from Australia. This, with the receipts from the United
States, Brazils, and the Peninsula, has given us imports
of about 800,0001. Purchases of gold continue to be
made in London, Liverpool, and New York, on French
account ; and though it is not accurately known how much
of this 80'3,0001 has been sold for Paris, there are reasons
for believing that less than 100,00 W. will remain in this
country. The extent and the object of these purchases is
not a little perplexing. No theory has yet been promul-
gated concerning them, adequate in all respects to ex-
plain and to defend a practice that is commercially irre-
gular; but, in our judgment, hardly sufficient importance
is attached to the change which is being effected in France
from a silver into a gold currency, and to the habit, among
the agricultural classes particularly, of hoarding as much
coin as they can. These classes know nothing of banking
facilities; they distrust paper; and they paid away most of
their old silver money for shares in the last loan. They
are now gradually replacing their former little reserves;
and though, from being individually very poor, the sepa-
rate amounts are very small—here a Napoleon, there half
a Napoleon—five or six in one place, and a dozen in
another—the aggregate amassed by a population so saving
must be very large. What otherwise becomes of the vast
quantity of gold coined at the Paris Mint? We have rea-
son for saying tnat very little of this coinage comes back
in the merchantable shape of bullion directly or indi-
rectly. Without describing the circumstances which lead
to this opinion, we may venture to say that the present de-
mand fur gold from France is to some extent analogous to
that for silver from India in respect to the habits of the
population ; and that, being complicated at the present
moment with a political necessity for supporting the finan-
cial credit of the Bank, and of some other institutions in
Paris, we naturally feel more sensibly the effect of the
combined demand at a time when our own enlarged opera•
t ions require all the aid and support derivable from good
supplies of bullion.
English Securities stand at about the same price as they
did at the close of the market this day week. Occasionally
they have been better, the improvement being caused by
the Government broker making small purchases on account
of the savings-banks. He has not bought more during
the week than 100,000/., but the effect has been to support
the market, which otherwise might have declined from want
of business. Similar operations will, it is believed, take
place next week until the whole investment has been made.
T.* general public have not been making investments, and
speculative transactions appear to be entirely suspended.
The disposition of the market is, on the whole, very good,
but occasionally it is sensitive and easily influenced by ex-
aggerated rumours. Last night Consols, which had pre-
viously been at 951 to 4 for account, closed at 954 to 1;
and to-day at 931 to 4.
Foreign Securities have been inanimate nearly all the
week, and no particular change in prices can be noted. The
principal dealings have been in the Turkish and Russian
stocks.

Railway Shares have recovered the decline noticed in
our last, and they have been firm since the close of the
account. Some of the heavy shares remain flat: but
generally they are all better, with a tendency to further
a ipiovement. Business is inactive, owing to many dealers
b !log absent from town. Riau, with occasional
• ciu itions, are heavy. Great Western of Canada are
gradually recovering the depression caused by rumours of
competing and rival line, the ground for which is not
surveyed, nor even a subscription opened.
Joint.stock Banks are about the same as last week.
Ottomans are, however, depressed; and some others of
the new undertakings have declined in value. National
Discount Company are quiet, at slightly lower quotations.
A considerable section of the shareholders in the Llnilon
and P iris Bank, who are ais.atitled with the oreserit state
of thethen idertaking, have signed a requisition for a general
meting to the secretary, with a view to ulterior proceed.

Miscellaneous Shares have been more dealt in ; but no
change of importance has taken place in any description.
The suspension of the Hemel Hempstead and Watford
Bank was announced yesterday. The liabilities are said
to be about 70,0001.; but it is believed that the property
of the partners will be ample to meet all engagements.
The North of Europe Steam Navigation Company have
declared a dividend for the half-year at the rate of eight
per cent. per annum.
Bar silver is now worth ss. lid. per ounce.
The trade reports of the week are all satisfactory.