The Express.
London, England, 1852-05-01 00:00:00

BANK OF SNOLAND:

11 otas Mud

413,049.110
a5..1.11 01
Proprittore C.tyl Li 1,614,..40
144
Pubdo P•pcilla 11x144 3,01,110
Rzebol., 4,14. I.4ab
Oaornl4. et
Deb 4,434 1014. £0:444.1 2,497,313
Otter 1A444141 —.— . 14.412.594
*veal* a 4 other la. 1.241,141

f 344.223
MARSHALL. Chief Caasl2
tuur.
The above returns when compared with those for
the previous week, exhibit tho following changes:
Circulation issue £33,099,150 Increase £lB,BBO
Circulation active 21,698,945 Decrease 457,103
Public deposits 2,993,373 Decrease 271,912
Other deposits
Government securities in

Apia 29.16L1

banking department 13,335,779 Decrease 60,000
Other securities in banking
department
Coin and bullion in both

Cnts — 19,587,670 Increase 27,398
Seven day and ether bills 1,207,142 Increase 40,1336
The Rest
The &serve 11,989,825 Increase 484,503

These returns exhibit the effect of tho conclu-
sion of the dividend payments, and are more than
usually interesting, as in the latter part of the week
embraced the reduction of the rate of discount to 2
per cent. was resolved upon. Looking at the appear-
ance of the various heads of the account, however,
especially the "other" or private deposits, the reserve
and the " other" securities, which last-named item
actually presents a further decrease, it appears that
the amount of the Bank's resources lying unpro-
ductive is larger than ever, and it becomes a matter
of serious question if the late measure of the direc-
tors will have by any means so beneficial an in-
fluence on the interests of the proprietary as its sup-
porters had hoped for. Probably the argument will
be, that matters would have been far worse had the
old rates been persisted in. It is plain, however,
that the attempt of the Bank to increase commercial
movement and its own profits by reducing the rate
to the lowest point ever established, does not appear
likely to achieve great success, so far as legitimate
trade is concerned, however much it may tend to the
encouragement of enterprise of a more questionable
character. It must be remembered that where the
scale of charges is reduced, a much more extensive
businerks is required to secure a remunerative result.
The bullion remains steady, and the public deposits,
after being drawn down below three millions, will
in the next return probably show signs of a rally.
According to the official returns published in the
Gazette of last Tuesday, the total note circulation of
all the private banks of England and Wales, during
the week ending the 17th of April, was 3,662,878/. ;
is the week preceding, the amount was 3,G4.5,722f.
There is consequently an increase of 17,13ti1.
The note circulation of the joint-stock banksduring
the same week was 2,973,8911.; and the previous
week's return being 2,963,098/., the increase is shown
to bo 9,8951.

I On taking into consideration the active circulation
of the Bank of England, which in the week in ques-
tion was 22,033,930/. (being 648,3651. more than the
week preceding), wo find the aggregate note circula-
tion of England and Wales to be 28,692,7191., which
shows an increase of 875,416/., as compared with the
returns for the previous week ending the 10th of
April, and an increase of 2,239,8391. compared with
those for the corresponding week of last year.
As regards the fixed issues, the private banks were
1,033,1977., and the joint-stock banks 436,0961. below
the amount authorised to be issued, making a total
of 1,471,293/. below the fixed amount.