The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-05-07


ofhe quarters taxes and duties and of the yearly out
standing balances Of revenue will have contributed no
doubt materially to the reduction of the paper circulation
exhibited by these returns.
The Bank of England had published the following no.
tce:
"BASK OF ENGLAND April 7, 1912.
Resolved That the rate ofnterest bills of exchange
and notes discounted at the Bank Of England be per
cent from this day."
This may not be attended with any increased
demand for accommodation at the bank but is cacula-
ted course make money cheaper the discount bro
kers will lower their rate for the best bills MAIN
tain their competition with the great corporation in the
face Of lowering of the rate of interest by per
single move when change of one.half per cent might
have answered equally well the pur in view.
There yet little difference M rates taken by the
large discount houses first class commercial bills For
the first few days they occasionay obtaining 81
per cent, and there oscillation between that and
g. which latter at the close the figure and
sensible effect had been produced charged
upon paper of inferior character.
The effect upon funds had been to some little
speculation in foreign securities The exchanges the
continent rising however under the influence of
increased orders for corn and continued depression Of
the export trade This caused silver more freely
to the continent This fact taken in connection with tho
foreign markets, including the United States gives but
little to hope that the improvement ispcrInanent
In France trade is exceedingly depressed In addition
the complaints of parties interested in the colonial trade
beetroot sugar manufacture and the wine growers the
linen manufacturers insist upon further concessions in the
shape of protection Forty manufacturers interested in
spinning and weaving inen presented themselves before
the President of the Council and the Ministers of Com
and Finance. They show that than one-thrd
of their establishments standing unemployed and that
the linen trade in sad condition: therefore they de-
mand an augmentation Of 10 per cent linen CLOTH and
10 per cent yarn admitted: from England. The Presi.
dent and his colleagues promised to give satisfaction to
this branch of industry after the close session. Yet
monss seemed to be plenty In Holland the minister has
ISSUE notice, that the aggregate subscriptions for
1905 Of forms, to be created in per cent stock
having been so much as 5s,6lsOOO FORMS he only
apporoa To each subscriber II per of the amount
offered Under these circumstances do not appreend
that the contractors for the loans about TO be raised
for the service o; Austria and Russia will experience any
difficulty in procuring subscribers their lists for the full
amount required. Notwithstanding this state of affairs
there disposition to engage in American stocks.
The following letter published in the London Times
doubt represents the feelings of great number Ameri
bondholders, who, having lent their money various
States respecting which they had the time very
tain information, now when the dividends unpaid be-
gin, when it's too late seek where information may be
obtained
ITO EpIroR THE TINES =
Sr,-Amid the turmoil OF home politics can you find
time request your American correspondent the
robbed creditors the American States of Illinois and In
diana their and fate? Many questions arise
which easily be answered the spot many facts
notorious to natives unknown and important If
YOU could let us know the form which the Insolvency
has TAKEN whether by any declaration of the State and
let us have copy Of the document if simply by
shonor of the when due then TO give the exact
official answer from the place which they made
b. payable
deratye frauds! II abstract would be valuable; but
above all how has the matter been treated in the
themselyesl-by the local and authorities
in
have arisen-some official statements have been
maidstone apologies have been rendered, promises
held out--whch would give at least the appearance OF
honesty and allow civilized community stand
these states do before the British public with the
alton excuse; and this too in states were the taxation
does not exceed two shugs per head, and where,
raised to six shilings per head all their liabilities
"Can you or your American or any Of your British
correspondents tell me OF any place in London where H.
linois Indiana papers and filed There
great want of information this whole question. II
man lent to bank, and it failed his ruin expained
to canal without transit the clar mine
worked out or railroad incomplete the fact all
questions; but to trust to state which only still
lists but boasts and thrves and yet to get dividends
the hopes Of any, unincllgble case TO he explain
ed only by the utter worthlesncss and fraudulent comb
zens of the United States to which am most unwilling TO
be driven and to which nothing but the ce,est demon
styation shall conduct me.
80 lam Sir, your most obe,licnt servant
+" London, April 3, 1872" "ANGLICUs
relation to the tariff appears the proposition
Sir Robert Peel had been carried by large maorties
with little concessions In instance the atera-
ton is OF practical importance. The difcrenal
duty 81 per H. in favor of East India tobacco is dcou
tnued and the 49, duty charged the produce Of British
possessions well that of foreign countries.
This spoils argument of the advocates of realia
tive duty on this side
Tongues reduced from las to los per cwt Apples
acharged by the bushe Cd. instead OF u.s. Cd per cwt;
pears OIL bushel Wheat -four per barr e from the colo
MES ODE Is instead of S. barrel Beef and pork to
per cwt instead OF 49,; butler be per cwt
dried fish, formerly prohibited to per These
very important and fully bear ont the Canadian opera
tons that have been going in oulwesern market for
some time. The agitation of the tariff had, however
greatly tended conmAe the stagnant condition of tn
markets. PssA " gass. Manchester are said to have
been lower than ever before known, without much pros
pect Of speedy reaction. The Improvement in cotton