The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-05-14
COMMERCIAL.
From our Commercial Correspondent.
NEw YoEk, Thursday, 4 p. IN.

New York, Thursday p. m.
afa4i.t IA. May IL, 1917.
The last accounts from England being of increased APP
prehensons relation supposed approaching iinan-
ca crisis, have operated in degree against returning
confidence here and although money Is abundant there
Is but little enterprise percepbe in the general markets
The Fact ate Bank of England raised the of inter
est and threw the bills of eminent firms in London,
without amy alleged reason gave rise much discussion,
and was generally ascrbed to desire stop the flow
olbulon to the United States. apprehend however,
that the bank not influenced by such motive,
buather by the desire curail its discounts generally.
rhas, under the present charter. nothing TO do with
bullion the currency any than any other
and has only to obtain the Of paying its debts,
IN the way do the Rothschilds, any other firm
When the issue department separated from the bank
ing department. the latter all control the II
turned over TO the issue department 100000 Of securi
mes and all its specie, for the aggregate amount it
ce'ed from ie issue department circulating notes. to pay
on IN tue course OF its business II has happened that
Eo the large amount of coin hand the amount OF notes
N c banking department has been greater than it could
put IN circulation, although il has times, put the
very low, and extended the term of loans. Under this
operation the banking department has always had notes
Wpay out on demand without being obliged curta its
oas or 10 sell stocks procure them. Neither 1t the
P"e could get notes from the issue department without
Iayng in gold, get gold without pa ying When,
therefore, the amount of in the banking department
exhausted there is but alternative viz, sell stocks
lot notes. Or by ceasing to discount allow notes to accu-
muae as they paid in maured loans The insttu-
nl has adopted the latter plan, by refusing to dis
count the bills of those large houses, the business of which
Is 20 great to the result speedily. The
'oaowng the leading features of the bank four
yates when the rate of interest raised by IL
leading dtves Of the Bank Of England and Of interest.
Dec. o. Jan l6 Jan - April TO-
pabc securities eIa757
rrIWsie l3s33,2l2 IA,t507Ii lt,ls9,t57 lsl3d317
rubic deposits s6I2 503liSe 1905 i9Sl3T5
NNwae ssoa,523 lo,sso,7ae l0.3sss3s lI.2S77.a
Neh circulation 20ess70 10,sos09o 2oaOt
Ross onhand sto3 400 65,59e5 6,io7I7o sss1,sis
bullion I50olJs73 issis,esi l3.staseo eis67,o5s
hate Of interest "A perct "a per ct Ct per CT
Now tappcars that the bullion in the issue department
decreased f5 20o,0o0 from December to April TO- OF this
iiooO00 was loaned to the Bank Of France, and the
nander supposed have been sent TO the United States
lhe consequence of this drain of bullion not in
ANY change OF the actual circulation but in decline OF the
Notes or money the banking department from fS 02 300
70 t2sS29l5 nearly E6,0O0,0oc To check that, the
bank four times putup Of interest," but still continued
odseoun, all that offered appears from the fact of rise
private securities from 2l2 Glsl36,377 The
payment of the April dividends the government debt was
progressing the date of the last return; and although
msanen Of q had been paid in account OF the