The Sun.
London, England, 1856-10-08 00:00:00

Total, 1854 .
Number sold, 1855
Ditto unsold

Total, 1855
Monday, Oct. 6, 12 o'clock.
91,774
5,570
97,344

Sheep sold
Unsold

Total

THE BANK OF BNGLAND.

Abundant evidence has been furnished yesterday
of the complete effect of the measures just adopted
by the Bank of England. All pressure for money,
both at that establishment and is the discount
market, has subsided, and the foreign exchanges
have likewise received a most favourable impulse.
A considerable rebound in the stock market might
therefore have been expected, but a check has been
given by the fact that the Bank of France are un-
derstood to have again commissioned their agents
on this side to purchase gold at any cost. Al-
though the operation, like those of a similar cha-
racter previously entered into, can be effected only
at a loss, a further sun of about 120,0001. is
understood in this way to have been withdrawn
yesterday from the Bank of England. To many
persons the question has consequently suggested
itself, will a fresh rise in discount thus be ren-
dered necessary ? But the matter is not one
over which a rise of discount could exert any mate-
rial influence. If the Bank of France are deter-
mined to buy gold at any sacrifice, no addition of
one or two per cent. per annum on the rate of bills
of exchange will be regarded. The only limit to
such an operation must be found in the exhaustion
of their power to buy up bills on this country or to
obtain credits here. Happily, we cannot be called
to pay more than we owe, and if all our liabilities
circulating upon the continent are bought up and
thrown upon us before their regular maturity,
there will simply be so much less to pay a month
or two hence. To the Bank of France the result
is of course of an opposite character. By a consi-
derable sacrifice they obtain money a few weeks in
advance, and when these have passed they must
either be content to receive nothing, or must renew
the transaction with a repetition of loss. In this
manner within a short period they have already
thrown away about 50,0001.,' which has gone into
the pockets of the consignees of gold in this country
and other parties. It was hoped, when they re-
cently advanced their rate of discount to 6 per
cent., and announced that they would take any
other stringent measures that might be necessary,
they were about to abandon a system so humiliat-
ing from its futility, but it appears that the exi-
gencies of the moment are such as will not admit
of a sudden change. In a few days another
monthly report will have to be issued, and the
most desperate efforts are believed to be requisite
to mitigate the features it is likely to present. A
considerable amount from Australia is now overdue
iu this country, and if an arrival should at once
take place it will afford the most opportune assist-
ance, since the Bank of France would, of course,
greatly prefer availing themselves of such a supply
to keeping up a direct drain upon the Bank of Eng-
land, which must speedily react upon the Paris
market. As the question whether the panic will
subside or go on till it has led to a suspension of
specie payments may probably, however, depend
upon the way in which the people may view the
next return, it is doubtless felt that every other
consideration must for the moment be set aside.—
Times City Article.