The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-10-24
> Michelet.
I Mr., HARRY.
FOREIGN NEWS.


| BY the arrival of the Liverpool packet ship Orpheus,
| Capt. BURsLEy, we received on Saturday accounts
from London TO the 18th September and from Liver
pool to the 9th These dates thirteen days later
than those last received, aad yet they contain little po
| Itlcal intelligence OF any interest
| The Parliamentary elections being in England,
party politics there have for the present lost much of
their activity, and Parliament, which convened TO
the 18th September had been prorogued to the
| I'd October. .-.
Tranquility also pervades France 1t is again posi-
lively stated that the dissolution of the French Chamber
of Deputies had been actually determined on, Very
extensive preparations continue to be made for another
expedition the of Africa, which is intended
act against the Bey OF Constantine. The Duke de Ne
mours has command in this expedition.
The Peninsula continues IN state OF the utmost an
archy and confusion In La Mancha, the Queens
troops had been compelled to give way before the Car
lists, In Old CASTLE the Carlsts had resumed the Of
ienslve under their chief Zariaegu In Lower ARA
gon the Carlsts inactive, which had given rise to
variety OF reports, amongst which was one that Don
Carlos had been taken i'll and returned to Canayeja-
Martial law had been proclaimed by the Queens COM
mander Baron de Meer in the four provinces of Gaia
onia. Strong suspicious entertained of the loya-
lily of General Espartero, the chief commander Of the
Constitutional army. The Spanish capitol was perfect
y tranquil it feared however that that tranquility
would not endure for any length oftme
The state OF affairs IN Portugal appears to be much
| OF the some character in Spain. The contest be-
tween the friends Of the charter granted by Don Pedro
ana the supporters oil the more democratic institutions
| since introduced, being still undecided. The Baron
de Bomfn commands the troops Of the existing Govern
men and the Marquis de Saldanha those Of the party
the former term rebels. The latter evidently in
considerable strength and the principal opposition they
seem to apprehend is from the National Guard in Lis
/ bon ,....... ....s
! The cholera still RACES with great violence in the
south Of Europe and has also broken out in Berlin.
ENGLAND.
LONDON, Sept. g.
The irmness which has been for some weeks dis
played by the public securities increased by tho
rather unexpected determination which was commune
Gated to the moneyed and commercial interests
Thursday afternoon, of the directors of the Bank Of
England to reduce the rate OF interest of money advanc
ed upon loans from to per The official notice
relative TO this subject is follows
1.-The Governor and Company of the Bank Of Eng
land do hereby give notice that and after the 18th in
slant, they will be ready receive applications for loans
the deposite of approved bills of exchange, hav
ing more than months to such loans to be re-
paid before the Goth of October next, with mte
rest at the rate Of per per annum, and to be for
sums not less than 2000h each Bank of England, Sep.
7, 1897
| Very considerable doubts are entertained by some
parties the city the policy of the step which the
directors OF the Bank have come to the present low
rate of interest realised for advance in the generally
being considered The private bankers dsconnters
OF that class Of paper which would be received by the
bank in depose at and l-2 per cent and apprehen-
sons INDUCED that the measure adopted BY the
Corporation will revive speculation and lead again the
recurrence OF Of those evils, from the effects of
which the commercial and trading classes have
nearly recovered At the same time it is denied
that there may be occasion for the extension Of the
commodation of the Bank before long Capital will be
in considerable request fortnight or three weeks to
meet the heavy payments into the Exchequer for duties
previously to the close OF the financial quarter There
are also very heavy bills of exchange falling due for
produce imported from China to the East Indies
and other places; add to this, that to meet the
general purposes of trade, the fourth of the month
will bring good quantity Of paper to maturity and the
prompts which will be required for the large sales of
colonial and foreign produce which have been com
menced and it is more than probable that without the
offer OF the bank to make advance of per cent, the
value of money would have extended much above that
rate. All things considered therefore, the Bank Direct
entitled to credit for the course they have adopt
ed facilities will be given to trade should pressure
again arise, which might, without the intcrposton OF
the Corporation i'll reducing the value OF money, very
materially tend TO check that Improvement which Is
apparent In all the important branches OF commerce.
The business transacted in the Funds this week has
been comparatively small indeed scarcely single bar
gam to any amount has been made since the commence
ment OF operations Monday morning last The prices
Of stock have been steadily improving, and Consos
for money have risen from 81 SO to 81 10 and for the
October from 81 l2 TO 90 The highest prices
realised Immediately after the notice com
munlcatcd to the Stock Exchange from the Bank Of
England of the reduction in the rate OF interest upon
advances, and they maintained within irac-
ton up the close Of business yesterday afternoon
considerable reaction has taken place in the value Of
Exchequcr bills this week, notice havinga been issued
for paying off all bills drawn in the months OF Juy Au-
gust and September in the last year. and for the
Of other bAs bearing the rate Of interest tho
last There have been sales OF these securities
made in the expectation that, money so plcn-
tlfu, and the value OF stock so high tie Chancellor Of
the Exchequcr would think II good opportunity to
duce the rate of interest. The premium on all de-
scrptions Of bills has advanced from AZ to 50 India
Bonds also higher than last week. having improved
from d6 to so prem The last transfers bank stock,
previous TO the closing OF the books Tuesday,
made at H. India Stock has risen to 25O l-2, and
for account 259 "a
The contents ofthe private letters received from the
principal commercial houses in the city Of New York,