The Sun.
London, England, 1846-11-20 00:00:00

THE BANK DIRECTORS.

Some curiosity had been excited, in the moneyed I
circles, as to what might be the result of the weekly
meeting of the Bank directors held yesterday morning.
So much discussion has taken place during the week, on
the subject of the exchanges, as bearing upon the mone-
tary concerns of the country, that a possibility was felt
to exist of some alteration being made in the rate of in-
terest. The Court of Directors appear, however, to par-
ticipate in no great degree in the apprehensions of par-
ties who have been looking forward to the rapid disap-
pearance of their metallic treasure. It is true that the
late advices from the United States have spoken of large
shipments of grain and other produce for the English
markets, and of a fall in the exchange. The premium
on bills has been quoted at 64 per cent., which would be
equal to 14 per cent. against this currency, but that was
by no means the current rate of the day. First-class
bills commanded, at New York, a premium of 71 to
per cent., a rate equal. nearly, to the par value, and
it is well known that there is no general market for
any other description. But even were the lower rate
named the prevailing one, the margin would be barely
sufficient to cover the charges of transport upon specie
shipped from England. At this season of the year,
when the more active operations of commerce are sus-
pended, there is always a little drooping of the ex-
changes, and, at the present time there is, as regards
the United States, a greater cause for such a state of
things than common. The American merchants are
willing to pause in their transactions until the effect of
the new tariff, coming into operation next month, can
be seen ; but that there will in a few weeks be large
remittances to England in payment for goods 'shipped
from London and Liverpool, in execution of the spring
orders from America, is unquestionable. A little, and
only a little, specie may, it is thought, be taken in ex-
change for provisions and cotton ; but, contrary to the
general idea, the supplies have this year proved short of
the ordinary quantities. The Custom-house returns
have been repeatedly brought forward in evidence
of the assumed increase, but, on reference to the calcula-
tions of those engaged in the trade, and who may be
believed to be best informed upon the subject, it is found
that there has been actually a falling off. The exchanges
on the continental cities have, so far, been maintained at
a point altogether favourable to this country, and,
although there has been some decline in the quotations,
the fall would seem at length to have reached its limit.
On the last post day (Tuesday) bills were not much in
demand, and the sellers bad to content themselves with
the previous rates. The Bank Board have, no doubt,
taken a full and fair review of the various circumstances
here alluded to, and, as there is really now no specula-
tion going on to create uneasiness, hence it is, in all pro-
bability, that they broke up to-day at an earlier hour
than they have been accustomed to do—a proof that
there could be no very troublesome matter before them
for consideration.—Post, City Article.

We believe that the meeting of Parliament for the
dispatch of business will not be delayed more than a
week beyond the time to which it is prorogued. The
19th of January is said to be the day fixed for the open-
invf Parliament.— Times.

'PROJECTED RAILWAYS.--Another extra number oi
the London Gazette was published last night. It con-
tained twenty-five notices of intended applications for
railway Bala to along%