The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-09-22
ENLIsH CURRENCY,


Bull nB of Eng Il,s25OOO n07sOOO ll872OOO n97sOOO
twill be seen that the circulation of the Bank of Eng
land has increased when partial dminuiion by pay
ments INTO the cxchequer expected whilst the paper
of the private and jointstock banks in England and
Wales has diminished, at time when great revival of
trade apparent This seeming paradox will be explained
by the fact that the relatively lower rate of interest pre-
vang in London than in the provincess increasing the
proportion of commercial bills sent to the city for dis
count which matter Of course enlarges the demand
Bank Of England paper, whilst in corresponding de-
gree it dimnishes the of provincial notes The rene
dy for this will be reduction in the of money in the
interior. The Bank published its usual notice. as fol.
!ows
THE Governor and Company of the Bonk Of England
ready until further notice. to receive applications for
loans on the deposit of approved bills of exchange not
having than six months TO run, Exehequer Bills and
India Bonds such loans be repaid or before the 10Th
October next at the rate OF three per centum per annum
and be for OF not less than 81 900 eachBank
England, 3ist August 1913
This is maintaining the rates for money the last
few notices. Money still offered by the brokers at
ormer freely and the by the Treasury of
Ell 800 goo account of the opium indemnity, threw
supply OF money upon the market which mostly
sought stocks investment causing activity and
marked rise in stocks The harvest turns out well and
puts end to all fears OF drain upon the enormous
stock bullion that In Paris the amount Of
unemployed capital is also very great.
Ia most departments OF trade considerable movement
was manifest and Manchester circular remak ks as fol
lows in relation 10 the China trade -
"The Chinese move slowly they do not readily adopt
Innovations and considerable time will be required
20 get the system which Is TO supersede that Co
Hong fairly and freely into operation. The fact, too
that america has this year contributed 10 their supply
quantity least amounting to one half of that from
this country should be lost sight Of and thus the
wants Of the Chinese will be by shipments from the
two sources up the present time, exceeding one mil
lion three hundred thousand pieces Of plain cotton and
nearly oqual to the whole export of such goods IRON
Great Britain for the years ls4l and ls42."
From this statement would appear that 400 900
pieces of plain cotton have been sent to Canton this year
The market in relation TO American stocks was as
| follows -
The prices Of American stocks are firm, and large
amounts are offered Tor sale but at the time there
as vet no general demand for investment and tho pur
chass continue to be mostly of speculative character
,labama Dollar per cent co. sales held at 65 per cents
sterling 70 cent Illinois 6's, % to 30nomnal. In
llama So Dollar and Sterling, without business Ken
lucky none for sale. LousianaBonds Of the Bank of
louisiana SO 81 per cent for ls4 Tor the two series
sO-buyers Consolidated Association, so to SO; Citizens
Bank some sold at so; Union Bank four SERIES SO 10 CO.
| those Of 1874 IS per cent The demand for Louisiana
stock is solely from the United states Massac
SIS, Sterling none for sale--e buyer at 81. Maryland
| sterling So, 50-buyers Michigan 6s 25-nominal
Mississippi 50, Planters Bank, io-buyers enior Bank