The Sun.
London, England, 1845-07-31 00:00:00

MONEY AND CITY NEWS.

From the circulars of the brokers connected with the wool
trade, and from other sources, it may be collected that the
trade in colonial wool is in a progressive state. The series of
sales commenced on the 3d and ended on the 26th inst., the
attendance of buyers having been very numerous throughout.
The quantity of colonial wool offered for sale being greater
than ever was sold at any one preceding period, might have
operated injuriously on prices had the market been in a less
healthy condition. To the advance which took place at the
late German wool fairs this beneficial result is partly attri-
buted; and it is also observed, that the importation is much
improved, especially from Port Philip. Out of 31,312 bags
of colonial wool there were 10,022 Australian, 7,272 Van Die-
men's Land, 8,673 Port Philip, 1,762 South Australian, and
3,148 Cape of Good Hope ; the quantities from New Zealand
and the Eset. Indies being very trifling.
The Bankers' Magazine furnishes the returns of the cir-
culation of private and joint-stock banks in England and Wales
for the four weeks ending respectively the 28th of June, the
sth, 12th, and 19th inst., and gives the following as the ave-
rage circulation of these banks for the month ending the 19th
inst., viz..—
Private banks
Joint-stock banks

£4,475,744
3,155,779

Average weekly circulation of private notes in
England and Wales during the past month £7,637,523
On a comparison of the above with the returns for the month
ending the 21st of June last, it shows—
An increase in the notes of private banks of
An increase in tbe notes of joint-stock banks of

£79,634
27,682

Total increase last month
And as compared with the month ending the 20th of July,
1844, it shows—
A decrease in the notes of private banks of ...... £145,415
A decrease in the notes of joint-stock banks of 181,547

Total decrease as compared with the same
period of last year
On comparing the above returns for the past month with the
total " fixed issues' of the several banks, as given in the Bank-
ing Almanack for the present year, viz.—
199 private banks allowed to issue
71 joint-stock banks allowed to issue 3,477,321
-------

.£8,488,418
It appears that the following is the state of their circula-

tion :
The private banks are below their fixed issue ...... £532,353
The joint-stock banks are below their fixed issue ... 318,542

Total below the fixed issue _

£650,895

The above return may perhaps be considered a criterion of
the state of the circulation no less valuable than that which is
afforded by the weekly returns of the Bank of England. The
latter form a correct barometer of the foreign exchanges, but
the wants of the country are more truly represented by the re-
turns of the local banks. The magazine appends a remark
worth notice :

" In comparing the results which appear in our monthty
summaries of the circulation returns, it is necessary to bear in
mind that the fluctuations which may be noticed are, fx the
most part, regular in their recurrence, and dependent on the
wants of our manufactures and agriculture at particular seasons.
Thus, we must remember, that in England and Wales the
circulation is naturally higher in the spring months than in the
autumn—that it is highest about April, and lowest in Augtpt ;
that in Scotland it is highest in the autumn, or about Novem-
ber, and liwest in March : and that in Ireland, it is highest
about Jsnuary, and lowest in September. All these changes
are regular and certain in their recurrence."

The Duke de Sotomayor, Spanish Minister, transacted
business yesterday, at the Figeigu-ogee,