The Express.
London, England, 1848-09-19 00:00:00

elm Udell
D 1 tto 11Wil

4114,110,000 it 13,8141100
Aisne Depalls. 210,009 1,340.00 t)
Prima' ukto %MUM 4,23e,000

2111,1110,01111 ... £21,0%0 '0

Sort 14 lia
Sldt""

!slake Securities
Print* dm

SNOOD
kllOO.lOO 11,011,1106

sAss.on .7 £I 410.005

We must bear in mind that them figures represent
• the whole of the banking economy of France, u
far as that economy is represented by public establish-
ments. There are, besides these public establishments,
the private bankers of Paris and the main centres of
the departments. But excellent as is the credit of
many of these house, the organisation prevailing
among them, and the extent to which they fulfil the I
functions of a Moe banking economy, cannot be eon-
pared to oar own highly-polished and perfectly dif-
fused arrangement& We ere, for example, that the
whole of tte private deposits is the public banks ell
France are little more than four millions sterling—
about halt as much as the private deposits of the
Bank of England; probably a fourth as muck as
those in the keeping of the London bankers; a twen-
tieth as much as those possessed by the country
bankers of England and Wales ; and certainly not so
mach as a seventh part of the lodgments with the
Nharresigleted bankers of North Britain.
T 1.6 general result of the skew amparative state-
ment is shortly this, that between the 18th May and
the 15th Sept. the Bank of Frames inereseed its bul-
lion and its public securities at the expellee of its dis-
counts and by the aid of its priests Asps*, The in-
tonne& therefore, is plain that, if theirs* of France
was again celled upon to swami he dislocate to the
point at which they stead UR the 18th May lest, it
weld only do so by es% or by a combination of three
sours s. First, it mast contract its public securities;
emend, it mast diminish its bullion ; or, third, it must
increase its circulation or its deposits.
Now, whet are the probabilities of seek an seg-
mentation of its private *email's—that is, of its ad-
vances in support of trade and its discounts of mercan-
tile bills?
The volume of the private securities on May 18th
we, in the first place, very much in enss of the usual
and average magnitude of that portion of the meets.
The average discounts of 1848—including the Bank of
France pe niee , its branches, and the Basques Depart-1
mentales was only 295,000,000,. against 377,000,000 f.
en the 18th May, 1848, and 240,000,000 L on the 15th
September, 1848. We mast not forget, therefore,
that in co:treating the present amount of discounted
bills with the ascent of such bills in the early part
of the piment year, we are in truth competing two
dissimilartnings. The deseandeapontle• Bank between
January and March were prised enormous. It was,
in point of fact, the Femme for diwomb more than I
the prenure for coin which provoked the decree of
sospeneion in the latter month. Bat even if we take
what may be called a nominal average of 300,000,000
francs for the-discounts, the present depression of
these securities to a sum sitiftk less is a mom
striking evidence of the paral which has overtaken
every species of industry in ranee.
There is said—and we can readily believe it—to be
a pereeptible revival bf commerce in the French de-
partiomm. If this be true we may expect to see some
increase to the private neuritis , bat no increase at
all equal to the extravagant operation et April. and
May. It is probable that any increase of the private
advances short of 80 or 70 millions of Asses could
be effected through the medium of the eireslation. It
could scarcely go beyond that without infissming the
exchange, or trenching upon the advances to the go-
vernment. If, however, the necessities of General
CAYAIOAAC and the demands of the merchants come
together—and the conjunction is far from improbev
—we shall first see a desks in the bullion, and
an segmentation more or less rapid on the volume of
the outstanding notes—if when that point of the pro-
cess is reached, it is still considered expedient to
illustrate the pages of the lleleitsar with a document
so n.w in the financial experiments of revolationary
ministers and needy states.

Ann •A interval elf wet than six weeks another
feeble sad fettle cart Ise been made to lead the pea-
santry d Waterbed aid lipperary into seta of Dye.
Mambo videos, and plunder. The passibility of such
ea attempt being made under any circumstances is
sad enough, even though the hollowness and falsity
of the designs held forth be palpable to all men. Po-
lities' purpose or expectatkn the incendiarits