The Express.
London, England, 1866-08-17 00:00:00

THE REDUCTION OF THE BANK RATE

THE BANK OF FRANCE RETURNS.

(muarrzals-sxmos.)

OF DISCOUNT.

Pluott.

PARIS. Atiourf 16.

" BLIND TOM."—ST. JAMESS-HALL.
After the prolongation, for the unprecedented
This young negro pianist, whose extraordinary
period of fourteen weeks, of the Bank rate of self acquired musical powers have for some time attracted
discount at 10 per cent., it has been reduced to 8. notice in America and have recently been exhibited
The interest attaching to the proceedings of here, gave • farewell performance last night previous to his
the court was even greater on 'Change in the tour in the provinces. His remarkable musical faculty was
present week than in the last. A crowd of exhibited in various performances, among the beet of
traders of all classes attended to hear the 7thieh, were Thtlhergl: " Home' sweet haelne„ Wollen.
};t:,.se by
result, and when after a few minutes' in i
Gottschalk
s notterno,;
=d " meivements of Beethoven'sng winds
'en' Sonae
tervel the reduction was announced, it was re- I pethedipie .o in all of which he occasionally displayed
ceived with acclamations. Not only in the metro- , powers of Mechanism and of expression that might doubt-
polls, but also throughout the kingdom, an intense less be cultivated to a higher purpose than that of the
sense of relief must have been conveyed by the I somewhat mixed kind of entertainment now proffered. He
termination of the unnatural pressure which for I has a firm and elastic touch, draws forth a full and powerful
months past has paralysed commerce. The effect I tone without straining
ei the
th capabilities otfhthe inanim
preeisina efennnt:
is already perceived in the increased convertibility I gee generallysad d
distinctness of enunciation. It with
it difficult to paw
of property which through the financial dead-lock I leave that he should have so largely mastered the intri-
eould neither be sold nor made available as seen- I cedes of the pianist's art without systematic instruction—
rity for loans. As long as 10 per cent. was main- 1 that he should have found out for himself that elaborate
Waded it was not a question of intrinsic value, butt interweaving and arossiag of the bands end other such dif•
Amnia& I the impossibility of getting advances on any murices r reader the execution of modern pianoforte
structicia.
lire. a
terms. The beneficial effect to our credit I a matter of
laberMas sta4, area
w is ith
the
bastla.
We are told, however, that he self-taught;
nk5•.8".„15 la, On the Continent is likely to be even greater gad if this be so it mast be meter el regret that web
than here. The reduction of the Bank rate capabilities were not subjected to • mars methodical train-
-312,301.746 n
gitamees 0 from a panic point is a far better proof of oonfi- jag. His perception of musical escands is very clear and
17.361.700 0 dance than a multitude of mere congratulatory acute, as was shown by his proclaiming the component
11,513,5ee 0. notes of chords and discords struck on the piano
; assurance. The first step is proverbially the most
13,437,800 0 •
8,270,700 0 difficult to take, but now that the downward move- IbY
enetber—also by
singing say
note
that
was
requested by members of the audience. Of by
00250.000 0 , ment has commenced the impression is general power of concentrating hie attention on musical ideas be
44.1119400 0 that it will be rapidly continued. The arrivals of gave • remarkable instance by playing simultaneously one
gold in the next few weeks from India and Australia melody (Fisher's Hornpipe) with the right hand ; another
will it is known be unusually large, and the reduce (" Yankee Doodle ") with the left band ; while surging
tion in the rate of discount, paradoxical as it may a third' the song " Early iii the Humbug"—preserving each
air distinctly notwithstanding their frequent antagonians
appear, is especially calculated, through the restore- of melody and rhythm. Another feature of the perform.
tion of confidence, to bring over large supplies from „,,,, is his avowed power of repeating any pianoforte piece
the Continent. The whole of these sums will be after once hearing it played. To test this, • very young
taken to the Bank, and hence we may expect • lady (about nine years old), the same who, under the name
rapid accumulation of bullion at that establishment of Miriam, performed at the recent Dramatio Fete, stepped
and consequent increase in the reserve. The notes Boahwto the pl:ftfonnt and
land.r,.,lawyhediehOesten wasun's fantasiawon. "" 'ne
cannat
that are now being hoarded by the public will also
say reproduoed, by Blind Tom. This was perhaps the
gradually come into circulation, and thus the avail- weakest portion of the exhibition, being an attempt to
able supply of capital promises to show a large and dowhit it is scarcely within humancapacity toaaieve. This
speedy augmentation. with the recitation of Old Uncle Charley's analysis of thi;
The alteration in the rate of. discount is expected mineral waters ; the description of articles held up to
to cause a material improvement in the produce view by members of th
certain ne audi
ow ence
the piano
noo
hoththereguidne.
markets. As in all other departments of business,
tle who as Blind Tom's exhibitor ; and the paelio•
it has been difficult during the recent pressure to netio spelling of words suggested by the audience, such as,
dispose of large quantities of produce, but with the " Psyche," rendered " Syksy," " Philadelphia," " Filly-
return of confidence sales will be effected much deli ear," kc., are all appeals to the mere wonderment and
more readily, and on much better terms. mirth of the audience, and tend rather to detract from
The figures in the present Bank return, published the effect of the real musical faculty whichhtsßlind Tom in
in another column, show that the anticipations of oththoerromcas:
csooencliirngely
evtrated on.non.
the cullVtievreatiton orwbiser explore-
an improvement in the current week have been five andy appreciative powers es applied to the
realised. The reserve has increased over a mil- interpretation of sound musical art, he might
lion, and the bullion more than half a million. possibly (with the facile and retentive memory which
The following table exhibits the principal items seems generally to compensate for the loss of sight) take
compared with those for the week ending the Oth Pound as an artist, rather titan a mere entertainer. Hie
of May, the last before the failure of Overend, Gut-
onraak•l
fballad, " W"
in the. cradlledefeofhfetheelpdeep,"Te singing
in which
ney, and Co.: . he displayed a barytone voice of agreeable quality, with
excellent intonation, and something very like refinement
of style. His gnome with the audience was complete,
probably • little enhanced by the oddity of the enter.
taininent ; especially by Tom's eccentric gestures, intense
self-conoentration, and his complacent self-approbation
and demonstrative applause of his own efforts. The hall
was crowded to excess, and if the provincial audiences are
similar to that of last night, Tom's visit to England will be
orofitable one.

The following is the return of the Bank et
France for the week ending to-day, together with
the corresponding figures of the previous account :
Degree. Ankust 18
e. Ard 9.
e.
Capital of the Bank 182,500,000 0 182,500,000
Profits in addition to capital
(Art 8, lair of June 9, 1867)
Reserve of the Bank and da
branches 5;104760 14 22305,760 14
Reserve of landed property
Moles in circulation
Bank notes to order end receipts
payable at sight 28,435,911 63 27,844,979 41
Treasury ascoant—cerrent cre-
ditor .

1114806,701 61 131,467,016 U
Current asamants, Paris 334516,666 38 322,732,618 17
Ditto breach banks 39,204,068 0 40,516,167 IP
Divideads payable
Discounts and sundry interests 4,786,667 61 4,867,566 17
Zs-discounted the bud six
meths 2,372,804 91 2,374304 91 '
Surplusted et receipts 1664 dlstri-
bu
Desdrise

9,351,84. rr 9,755,592 40

1,724E41,411 20 1,720,290,7 U 116

August 16.
C229220n. Yr. et
Cash In hand and in branch
balks
Commercial bills overdue 2,862,141 12
Commercial bills discounted,
not yet doe • - 110,474,816 9
Ditto branch banks . . 365,112101
Advances on deposits of bullion 18,314,400 0
Ditto branch banks 11,881,70e 0
Advances on French public se-
curities
Ditto branch banks 8,145,600
Advances on railway shares
and debentures 84,557,100 0
Ditto branch banks 72,096,100 0
Advances on Credit Fonder -

Bonds
Ditto branch banks
Advances to the State (enliven-
Uou 10th June, 1857
Oovernment stock reserve 12,980,750 14
Ditto dig
Itentes =batons (law Ind
June, 1857) 100,000,000 0
Hotel and furniture of the bank at
landed property branches
Expenses of reansgenvent
Sundries

066,100 0
471,000 0

663,000 0

623,200 0

60,000,000 0
12,980,750 14
16,118,987 91

100,000,000 0

8,290,815 0
076,427 77
10374611 8

1,724,601,421 10 1,7211,220,732 96
Certified by Senator Governor of the Bank of France.
(Signed; Bon WM.

WILLS AND BEQUESTS.

Probate of of the will of the Right Hon. Augusta
Emma, Dowager Baroness Truro, was granted by her Ma-
jesty'sCeurt of Probate, on the 3rd inst., to the Right
Hon. Edward Cardwell, D.C.L.. P.C. ; Travers Twee,
D.C.L., Q.C. " • Edward Marjoribanks, jun., Fag., of the
Strand ; and Charles Norris Wilde, Esq., of Russell-
square, the executors and trustees. The personalty was
sworn under 70,0001. Her ladyship married, in 1845, as
second wife, the Right Hon. Thomas Baron Truro, Lord
High Chancellor in 1850-2, who died in 1855. Her lady-
ship died on the 21st of May, 1866, having executed her
will on the 15th of September, 1865, and a codicil on the
10th of October following. Her ladyship has bequeathed
to the present Baron Truro 240001. ; she also leaves
his lordship the library books, maps, and pictures ;
and the family and other portraits are specifically
bequeathed to various persona. To St. Paul's School,
London, where her husband, the late Lord Truro,
was educated, her ladyship leaves the portrait of his
lordship in his black silk robes as Lord Chancellor ; and
bequeaths his lordship's state robes as Lord Chancellor, 1
And the three purses belonging to his office, to be held u
heirlooms in his family. Her ladyship bequeaths to Lord
Truro the principal part of the plate, which is set forth in I
a list of many pages 7zended to the will. There are many
specific bequests of to and jewellery to other parties ; i
to the Right Hon. to hen Lushington, D.C.L., 2,0001. ;
to Charles N. Wilde, 1,0001., together with a service of
chins : and to his wife also a legacy of 1,000/. ; to the
Right Hon. R. Cardwell, 5001. to Dr. Twins, 3001., to Mr.
' Marjaribanks, 3001. • and there are several annuities,
and also legacies to servants. The sum of 1,0001. is to ,
be held in trust by the vicar for the time ,
being of St. Lawrence, Ramsgate, to keep in
repair her ladyship's monument, on which is engraved the
words "Augusta Emma, relict of Lord Truro, and only
daughter of H.R.H. the Duke of Sussex," the surplus to '
be given to the poor of that parish. 20,0001. is left to the I
fund in aid of the poor and friendless boys of the metro-
polis not addicted to crime, the trustees being those of the
will, to which are added the Bishop of London and the
Chief Commissioner of the Metropolitan Police force for
the time being ; to the Nursing Sisters Institution, Devon- i
shire-square, 100/.—ell legacies to be free of duty. !
The residue of her property is to be equally divided
between the Seamen's Hospital (the t),
the Shipwrecked Mariners' Fund, the Indigent
Blind Asylum, the Orphan Asylum (Wandsworth), 1
and Guy's Hospital. The will of Lord Frederick
Charles Peter Beauclerk, captain R.N., late of Little
Grimsby Ball, Lincoln, was proved in the London court by I LIVERPOOL AND THE REDUCTION IN THE BANS
his relict and his brother-in-law, Sir Montagu John Choi-
eley, Bart., of Easton Hall, Lincoln. The personalty in ° BATE.—As might have been expected, the recent pro
in -
longed advance in the Bank rate has had a very material
the United Kingdom was under 4,0001. The will is dated effect in stopping over speculation in Liverpool, and the
1855, and there are three codicils. The two but weeding out of several shaky concerns and a vast amount
were executed on the Ist and 6th of November, lof bad paper. It was, however, expected that this or next
1865 ; and his lordship died on the 17th of the week would see a reduction of at least one per cent. in the
same month, at the age of fifty-eight. To his wife rate ; but yesterday much surprise and gratification were
he leaves the furniture, plate, carriages, tem, for her own expressed on 'Change, shortly after noon, when the =-
absolute use, and an immediate pecuniary request. To
his eldest son he devises all his real estate. To his nouncement "Bank rate reduced to 8 per cent." was posted
in the news-room. Everybody seemed elated, and the
youngest son he leaves all his shares and stock in the cotton market, which opened with rather a quiet bat
Aberdeen Railway, and a legacy of 8001. The residue of steady tone, became at once excited, and the sales at the
his personal estate be bequeaths to his eldest aoa.—The close exceeded by 6,000 or 7,000 bales the anticipations of
will of William Chisholme, Esq., of Tollington Park, the opening of the market, while prices were 4d. or a shade
Middlesex, was proved in London, on the 30th ult., by his more over the full quotations of the previous day. In the
relict, and his brother, John Chisholme, Esq., the joint general produce, stock, share, and other markets there was
executors and trustees. To his wife be has bequeathed a
life interact in his property ; and, after her decease, he a much better feeling exhibited ;cud, on the whole, the
te recent prolonged advance in the rate, and its reduction
leaves the principal part to his nephew, John Arthur yesterday, has had a most beneficial and healthy influenceChisholme, and the rest to the daughter of a friend.— • 011 commerce in Liverpool.
Illustrated London News. )4 itETINO OF THE BIRMINGHAM REFORM LEAGUE.
—A numerously-attended meeting of the members of the
A CONSULAR " DirrictrLrY " INCYPRUS.—A ' Birmingham Reform League was held on Wednesday
"difficulty " has arisen between the Porte and the Ameri- evening, Mr. W. Radford presiding. It was stated by
can legation on a matter of some interest to our consular Mr. Nuttall that reform meetings would he held this
readers. Some time ago the American consul—a Mr. Luigi week at Birmingham, Dudley, West Bromwich, Nuneaton,
Palma de Cesnola—at Larnace, Cyprus, took into his ser- and other places throughout the midland counties.
vice as cuss a Muuubnan native named Mustaphm With respect to the forthcoming demonstration wale-
Shortly afterwards the mudir of the town claimed the man factory progress had been made, and also arrangements
as a drawn conscript seeking to evade military service, for the members of various trade Union/ and friends
and on the consul refusing to give him up ordered a party lof reform in the midland counties to take pert in
of zaptiehs to enter the house of the American consular the proceedings. Members of the temperance so-
dr/woman—a certain Costand Bebess—and carry off she cieties would also attend, and Robert Lowe might
man. Thereupon the consul addressed a formal complaint know that the sober part of the population wanted
to the governor of the island, demanding the punishment parliamentary reform. Several members of parlia-
of the mudir, and en ample apology for the al- merit, and many gentlemen from London, Mr. Edmond
leged outrage on his own consular dignity. On in- Beaks Mr. Mason Jones, and others, bad consented to
quiry into the facts, however, the Pache considered take part in the demonstration. One of the members of
the mudir to be in the right, and therefore refused the the late government was expected to be present, and their
consular demand. Mr. Palma de Cupola accordingly esteemed member, Mr. John Bright, if possible. The
suspended relations," and referred the matter to the mayor and the liberal members of the corporation and the
Hon. K Joy Morris, the American minister in the capital. ministers of the various denominations had alao consented
The latter gentleman, accepting his subordinate's version to take part in the procession. He had not the slightest
of the facts, has addrused an energetic and categorical doubt that the demonstration would be a very successful
note to the Porte, demanding (1) the dismissal of the mudir; one, especially when they had the Birmingham Liberal
(2) a personal apology from the Pacha to the consul at the Association and the middle claims to support them.
house of the latter, with a simultaneous salute of 21 guns REFORM DEMONSTRATION AT MAIDENIIRAD.—A
to the American flag • (3) that done, the dismissal of the meeting of the liberals of Maidenhead was held in the rime—The Dublin Town Council have had two days
LORD ABERCORN AND THE DUBLIN CORPORA-
Pacha himself ; and. (4) the liberation and payment of a Town-hall of that town list night. The room was densely debate on the terms of the address they are to present to
substantial compensation to the caves Mustapha. In the crowded with working-men. Mr. J. D. M. Pearce pre- Lord Aberoorn on his public entry as Viceroy. The die-
event of the Porte's unwillingness to concede these four
sided, and oa the platform was a deputation from the Re- elusion has been a hot political struggle between the two
points, Mr. Morris has, it is said, requested Admiral Golds-
form League. Several speeches were made b
worthy, commanding the American squadron in the men, and resolutions endorsing the policy a the nally two addresses proposed, but the non-political one
Mediterranean, to send one of has iron-clads to lamsca— . league were carried with acclamation. •Me too the form
what to do our information states not.—Lenrot Herald, I was promptly abandoned, and the dispute toot k
y working parties into which the body is divided. There were origi-
M P tem 's Succateloa.—Mr. Thomas Watts
, R. • I f •whether an expression of opinion as to the
o a question
Aug. 8. in the very words
I has been appointed Keeper of the Department of Printed • government proper for Ireland, couched _
MARYPORT AND CARLISLE RAILWAY.—The report Books in the British Museum, succeeding Mr. Winter : used lately by the Earl of Kimberley in the House of
of the direetoreof thiecompanYstatesthat the traffic receipts Jones, who was recently promoted to the poet of Principal , Lords and including a condemnation of the Established
for the half-year ending the 30th of June last amounted to Librarian on the resignation of Mr. Panizzi. Every , Choral anti a declaration in approval of a land tenure _ ,
42,5971., against 37,3221. for the corresponding half of 1865, frequenter of the reeding-room, end, indeed, every one ~ should be the emphatic feature in the document.
hoThl
showing an increase of 5,2751. The expenditure who is at all acquainted with our national library, will be I "house was counted out" on the first day,after som
of hour'
showing
to 17,2891., and for the corresponding half of glad to hear of the appointment of one so thoroughly fitted wangling. On Tuesday the conservative side _ _
that
t-
-1865 to 15,1271., showing an increase of 2,1621. The o the post as Mr. Watts. From the time when he gument was more fully heard, and it was conttened than
balance for the half-year, after carrying 5731. to the credit enteredr
the service of the Museum, in the year 1838, he the whip had " done nothing for Ireland ;" " t had _
4id
of the contingency account, was 21,5311., which enabled the has been zealously occupied in watching over the interests said that the people of Ireland were half a century behind
directors to recommend a dividend on the ordinary shares of the library and enriching its stores. His especial object those of England " (added ono spmker) the luxe
getwes
at the rate of 94 per cent, per =Bum, and on the prefer-
,,„ has been, as was stated in his letter to JIT- that the people had been told that agitation would n
ence shares according to their respective tees- Thera Panes, recently published in • report printed by order them everything, and now anew standpoint of silltaale
had been a marked increase in the s, cool, coke, and of the House of Commons, "to bring together from was attempted to be established
by the unstatesmanhke
iron ore traffic. The passenger traffic exhibited a alight de.
.•all quarters the useful, the elegant, and the curious speech of Lord Kimberley." Finally, at five o'clock in the
crease,. occasioned bT the opening of competing
. mutes ; it literature of every language ; to unite with the best afternoon the particular address which included the state-
was, however, anticipated that tide would be recovered en English library in England or the world, the best Russian mows of i.„ord Kimberley on the points already mentioned
the opening of the I)erwent branch. The capital account library out of Russia, the best German oat of Germany, was adopted by a large majority.
showed that 555,0001. had been expended on the main line, the best geanisli out of Spain, and so for every language, I
x • F.
iIII PROJECTED LINE SETWEIN Yoaa AND
73,1271. on the Bolton and Wigton branches and 28,7031.
from Italian to Icelandic, from Polish to Portuguese." In • &enamel:Ten. —A survey hot been in progress for several...
on the Dement branch, making together 65'6,830/. , this object he has thoroughly succeeded, and he is fully
months for a new line of railway between York and Soar.
Tan JAMAICA Commisaionsaa.—The report of justified in priding himself on the fact that where he
borough, on Sir John Rennie 's route, by way of Sheriff
the Royal Commiasioners, distinguished as it is by in- icrund poverty every student of the less-known literatures
Batton, Castle Howard, Maltoe, and the Weld base. This
dustry, impartiality, and comprehensiveness falls short in of Europe now finds riches. One of the first linguists of
limbos been variously stated to be in the interest of the
one important particular. The judgment which they pass the day, and acquainted with the literature of almost
Great Northern and other companies, and (opposed to the
on the meet revolting acts perpetrated after the suppres- every nation, Mr. Watts has been able to select the
North Eastern. It has this week been saixoenced that,
eion of the outbreak is quilled and hesitating. Although but books published in every part of the world, and
owing to the high price of money, and the probable modi-
they cannot help arriving at the conclusion that Garden thus to give to our national library a cosmopolitan .
n tion of the English and Scotch traffic agreement, the
was illegally Put to death, they studiously bring together character to which no similar establishment abroad can
_c_e•
re of the new line to ?Year= h will not proceed
a number at Piss
ed details to weaken the tin pretend. In every other respect also—in zeal, in activity, P_=esselee, cad the surveyor. him, di withdrawn.
which iodide' murder should make on every -coned- in courtesy to all with whom he is brought into contact— ""
ADMIRALTY, AUGUIIT 16. APPOINTMENTS.
tntod mind ; and they repeatedly go out of their way to every one who has ever had occasion to consult him .
t J. =tom to the Ocean • ainisnant-Day-
sanction the mischievous error that general belief is tants- in the reading-room must feel that Kr. Watts is eminently _., W.
_ _ „._ ~,__,_,_,..! , D. W. wise
mount, or nearly tantamount, to direct and positive proof *stifled for appointment he has received.—Pall Mall
to
the
ikly-ardataidew::, wsupau'u'unit'""l:47o; disposal. '
of guilt.—Fraesr's Ablileliall kw August.

9th May. lath August.
Coin and bullion £13,156,140 ... £14,110,956
Reserve 5,811,745 ... 4,610,866
Circulation active 22,344,395 ... 24,540,090
Other securities
Other deposits 13,515,537 ... 18,125,220
The rate of discount was then as now, 8 per cent.
The most remarkable comparison is that between
the other deposits and the other securities, the
public having apparently borrowed 41 millions
from the Bank with one hand to redeposit it with
the other.

The private discount establishments have re-
duced their terms for money at call from 6 to 55
per cent. ; at seven days' notice, from 65 to 65 ;
and at fourteen days' notice, from 75 to 7. The
rates of the National Discount Company, however,
are 5,6, and 7 per cent. The joint-stock banks
now allow ri per cent. for money on deposit, in-
stead of 6, with the exception that the London and
Westminster give only 44 for sums below 5001.