The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1839-05-15
Correspondence o. The Courier & Enquirer


LONDON, Apfh ON, iooo'
The oieisl publication Of The assets aid labes Of
me Bank oi Ensisna which has hsen looked for With so
much anxiety. sppesrtd ia the O. zeile OF last night
The reduction athe stock Of h.llon sppesrs 10 have
been considerably larger than durug any OF the pre.
cedng Lonths, IN ihe course Of Which The exchanges
have been sganst this conpy. for the dDnunlon has
been no less than 1888 900 and the hole remalniuy
stock in The Bank Of England is given at rather more
than Fl 600 900 but 10 reslity aud considering that
expor aiio Of gold has been nnnsnsly heavy during the
last two wrecks Of The Time for which the average
taken the full remaining stork OF bullion cannot be est
mated Than f5,500.OO0 This 10 a&y OBJ
yonsly spposch to state Of proportions se's TO
liabilities which reasonably inspires the directors OF
the Bank Of England with considerable alarm Tor the
safety Of the institution. the more ~, rs tie expectation
Of gold has continued during the last several weeks
sga,s the utmost Efforts OF the Bank; and accordingly
the directors are Iesorng every operation IN their
power effect turn 10 the exchanges by advancing The
prices OF bar gold aud by the contraction Of The business
DISCOUNTS tor tho purpose OF contracting the ccula-
ton OF lis notes, IN order 10 the reduction OF Its ab
tlss and the preservation Of better proportion oil the
sbncs and he gold In this state Of affairs, u Is OBJ
vous that The prospects Of the money market and there
fore Of general commerce, depend upon the success OF
the directors IN speedy accomplishment OF their object
tnrning the exchanges aud bringing back the stream
Of bullion their vaults for without decided change
in the state Of the exchanges The entire remaining stock
Of bullion would be exhausted 10 the course Of very
short time aud there would arise another Of the pancs
which frequently have been caused by the deficiency
Of the precious metals in the vaults OF the Bank The
foreign exchanges certainly improving slightly, aud
tho rates yesterday were higher Paris Hamburger,
aud Amsterdam; but still the state Of the bullion has
fallen 10 low proportion that much more settled
and determined turn 10 the exchanges must be noticed
before tile directors Of tho Bank Of England can be
pecod from their present operations for dmi-
nshng the quaniy OF m0ney in The market and there
fore for lowering the prices Of all descriptions Of stock,
shares aud general commodities with all the distressing
consequences to The general commerce Of the world.
In this condition Of the general money Market II Is
satisfactory 10 report that American securities have not
yet been materially affected in vsue and the only effect
Of the increasing scarcity OF money has yet been ina
the business has been considerably lessened in extent
for the last i've days. Ia The greater part Of the State
securities transactions have reality taken place..
The value Of transIantc securities will depend
tirey the slate Of the general money Market that
should money become alarningly difficult TO he OBJ
tanned, by some persons 1t Is apprehenied may he
The consequence OF the present operations of the Bank
Of Englsnd then large amount Of securities ON
which advances have been made would he pressed into
the Market that be doubted that the deprecia
ton would become Of most extensive kind.
The whole prospects Of the money market as 60
vercd by The Bank Of England, be represented
as other Than those oi considerable difficulty and appre
hension at the present time.