The Sun.
London, England, 1841-01-16 00:00:00

EVENING .EIATION.

_HONE V )I=l ttK ET and CITY z ilv

--

rlitDA V:ENIN-G.) •
:.1:c.:1:cr place will 'Le found the ofil-
Cult publication the pe6ition and operations
of the li.,t,k cf .F.,:Lce as plblist,ed iu a late Lumber
of the -110;d/cal. It Is uc. idcd into 'fuur separate ac LI-
CAS uucier the following heads
1. Balanec-.Jteet of the Bank of France, and the
actual state of its afrtirs on the 30:1i ult.
2. AVera'V potilioil of the BAuk during the last, data
wouttlS.

8.
Operation; during the last, three Int:inert:.
4. Rosult of th, (poi atiuns of the Bauh duritig the
lam. six month-.

Front th, tint artide, which contains the actual po-
sition of the I; nil., ti ;tppears that on the :;Oth ult. the
speis.ic in the 11.-alk amoutitcd to the
discounted to 1:45 ; the limbs on and
coin to ; anti the ad VaileCS on public se-
curities to

(),1 the ~tmer sit!e ul the atccount it :ippears that the
notss iu eircuiaticu tanottotett to 2-11.,titi'2,0.10f. The
btCance due to the TlCablli y upon account current
(tlepost account), to anti the balance
due upon su,idry ptiva:e aceouttts currcat; (deposit at:-
coo t:1.0, to 70,72.1 U•1:31.
It appears tht-re!ore, that the epecie in the Batik is
only 8,1:33,2381. sort of the amount of the notes in
circulation.

The following are cemparative results. By comparing
the present return under this first head with the return
under the same head of the 80th of September last,
there is a decrease in the actual amount of specie
of `-'2,20'..2.,:3;35f., a Jeanie in the amount of bills
under discount of 1,62.4,8:281., a decrease in the loans
on bullion of 4,Zi36,1001., a decrease is the loans on
public securities of 736,795 L, an increase in tha circu-
lation of 14,884,0101., a decrease in the deposits of the
Treasury of 9 251,8441., and a decrease in the private
deposits of 6,961,9131.

This, as regards the first head of the return. From
what is stated under the second lived, which regards
the average position of the Bank during the preceding
three months, it appears, among other things, that
'l'i►c average amount of specie in the coffers of
the Bank during the preceding three months was
:234,271,0001. ; and therefore, by ccmparing this with
the first head, it appears that the actual amount of
specie on the 30th ult. is short of the average of the.
three months in 1,0,17,248 f.

It then api;ears that the average amount of b.:(is dis-
counted during the rrcceding three turaths was
145,831,500 f., which is 10,044,610 f. Lis than the
amount actually under discount on the utlth of De-
cember.

On the other side of the account it appears that the
avervage of the notes in circulation during the preceding
three months was 234,859,000 f., which is 6,803,0101.
less than the actual amount of the circulation ou the
30th of December.
It, further appears that the average balance due to the
Trca:ury on account current (deposits of r-
moat), during file three months 'vas 115,784 4000.,
which exceeds by 9,677,8771. the actual amount tsi the
Government deposits on the 30th of December.
And, finally, it appeais that the average amount of
private deposits during the three n,ouths wax
77,689,500!„ wt.ich rxeceds by G.905,437f. the :tonal
amount of the Gov:ln:new deposits on the 30th of De,
ember,

The third brad contains a surrunaty tlthn actvdi Gpe.
rations of the Bank during the proccaug three tuouths,
and from this it appears z

That the operations relatinz to
(lc ;u[M, loans on bullion, and
advances oti public securi;ies, Francs.

amount tss
Thtit the movement of the
privzte deposit account anicunted
to
And the movement el the Govern-
2,543,023 800
ment deposits
And from the other side of the account, which re-
lates to tho general movement of the offices, it appears—
That the receipts in specie amounted .Francs.
t 0...
100,735,800
In notes to
That the payments in specie amounted
to

2P8,652,‘..)00

120,696,900
In notes to .
.542,765,500
And that the liquidations by means of
transfers from nu;; account to an-
other amounted to 1,742;897,70
From this we stray perceive the amazing activity of
the -drpo-sits.
The fourth head, which relates to the operations of
the Batik during the last six mouths, calls for no ob-
servatiotts, except in so far as regards the expenses of
the management of the Ruth, and which appear to
have amounted to 472.316 f.
These documents will be referred to at this. time with
peculiar interest by all engaged in the study of banking
affairs. They arc clear and explicit, end evidently
conceal nothin. This is :he sort of return which
should have been required front the 1344 k .Of England
on the renewal of the charter, whichytould have been
infinitely more useful than those periodical averages,
which serve rather to mystify than to enlighten the

It is observed by the leading brokers in the Stock-
Exchange, that the disposition of the public to in-
vest money in foreign securities has greatly dimi-
nished, if it has not altogether ceased. Hence, as
all the money for investment is brought to the Eng-
lish market, and even French stock -is sold out for
that purpose, a new demand for stock, especially
Consols, has been created, which gives the, parti-
cular feature to the settling of this day, 'as
some quarters a slight difficulty has been found ia
procuting stock, while money is so little in. request that
it is very hard to lend it to any advantage. in the Stock
Exchange, Altogether the fluctuations in -thy: market
during thie account have been above the usual.. overage
(the lowest quotation being 87-Z- and the higbest 89i)
and, although the business transacted has been of some
extent, it is remarked that the public bas taken little
interest and dealt very spariegly during it. The prie-
(rip! operations have been between the regular jobbers,
who sold freely at low prices in the early part of the
account, anticipating that the fundholders, alarmed by
the threatening aspect of external politics and tare
prehension of foreign loans, would be induced to part.
with their stock, and enable the dealers to repurchase
at lower pekes than those at which they had sold. In
this, ho-,vever, they seem to have ken disappointed.
'Phe public never exhibited welt alarm as to sell
largely, but, on the contrary, appeared as buyers at
the low quotations, and the jobbers are generally sup-
posed to have beca losers by their transactions.: Thee
report prevalent in Paris, that the Sultan had agreßl.
to the securing to Mehemet Ali the hereditary Pachalic,
of Egypt, favourably itiluenced prices.

II ERALD.—The advance in Consols today may
be eamaiiiered as perhaps a more important indication
of ialprovement in money affairs than taken by the
mere event might be imagined, For the fact is, that
large deliveries of stock took place on the part of those
who had subscribed for corresponding amounts of
Teiuity Bonds, or the Trinity Loan, on which pay-
ments had to Oe made. The advance in value of stock
securities, trt the face of sales for realization and invest-
wet elsewhere is a proof of the abundance of unem-
ployed capital. It may be noticed besides as a singu-
larity that money, which has been so extremely easy for
save r:',l days past, has a2tually become rather tight
netaithstanding, the p/eaaora generally produced by the
pay,anent of dividends. Tue contradictions apparently
involved by such eoellcting circumstances are, how-
ever, susceptible of explanation, although, generally
speaking, nothing more is pretended under this bead
than au accumulation of facts for the infermation and
dieeslioo o: Ihe reader. For, it will be recollected,
on closing the books for transfers, preparatory..,,e.d the
snaking advances oat
linking them up for the payment
nattal Bank notice WQ,3 issued for
I,l:iaalother securities:
the deposit cf bills ef exchange
elike a
nedinagc.amo7 Moat,
precise estimate,
Without pretending to anything ,
~
before the 16th cur-
it may he mentioned,
advances made
a,ovoaoi
lueodoot
1/I.e m
mltws,
au•anodve' errtshaiilitt
1,N.,. i,t,dh, such asiit matters,liie l:t(illiiol:alerrt:teta4h
tle Bante do not wtait,
rena, amount
of the facility thus gra
ti
1 t d b
necessity, to ti c .ass ay, but so soon as thou
those
except by
.
aro themselves in receipt of the needful, or are able tc,
raise t,
to : theythe B are careful to m aloci the earliest repayment
possibleank and reatae their securities. They
have the so much stronger inducement to this. punetu-
aity er anticipation of their debits, inasmuch as their
totem erelit with the Bank is dependent on the fact.
so it is, in ceaaequence, that a large portion of the ad.
vances sii made by the Bank have been already ae-
decreed, and the more readily as the Money Market, in
the way of discount, has been so easy of late. In this
manner, therefore, it happens that a part of the over-
flow of money consequent on the payment of &vale, ela
has Le.en absorbed, ite.d that money, in despi aof the
natural anticipation from that overflow, has actually
become altuast as scarce and as dear as before.
The argument of the 'Timis, tending to excite the
13,:ai k to increase issues upon the strength of certain
' speculations of improving trade, was noticed and re.
probates; yesterdav,although not at the length or so
i forcibly as was desirable. The truth is that the Banl-,,
as the legalised regulator of the currency to a curt din
extent, has, er ought to have, no concern with p „ices
or trade. The circulation, if it is to represent r
I should have a certain fixity, for prices high or do-boy,
low.
or
trade prosperous or adverse. If hank notes are to be
' a standard equal to gold, the quantity
.shLorri be, like
and no more vimable than. what
the mine supply should effect. l'h. Times is extremely
geld, determinable,
inconsistent with itself', in real,k, in advancing. a pr,- :;wade is impro.eing the Band;
self bps issues, for its arsument has alelays
nitiotliti:':ttehrteatat,e Rank, for the sapid; of dividends 'has
been
should:es
alvatte,is been inclined to over-isvaes, and. that it should
square its paper circulatian by the standard of gold
in hand. The truth is that the Bank should no t look to
prices or to the aaadition of trade as an abaaa'oate rule