The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-11-22

westerly point than Kertsch, on the Sea of Azoa.
Inc winter VIII impede its progress, but not
change the direction II has taken ~
The Paris Presse contains the following con-
solatory paragraph relative to the march Of the
cholera:-" The population of Paris is beginning
TO feel uneary W IN respect TO the cholera which
appeared some time since in Russia and every-
body asks, will il reach France, as il did in the
year 1882! AS yet, there are several circum-
march is no longer the same, as it moves from
north TO east and very slowly, being the contrary
Of what occurred in 1881 and 1882. At that pc
Rod Its invasion caused an explosion in all di-
rectons, and II quickly attacked Russia, Poland,
Prussia, Austria, England, and France. II has
already ceased TO appear IN the ports OF the Sea
OF Azof II has scarcely left any trace at Odessa,
and everybody appears TO be treasured as to the
progress of this scourge IN the southern pro-
vinces of the Russian empire. Neither Is II
reason that because II has appeared in some
towns of Russia IL should come to France Ac-
cording to these considerat ons, it is not proba-
BILE that II will visit us. If, however, contrary
to our anticipations, II should manifest itself in
France, there is one fact which ought to reas-
sure us, which is that at first IL marches mildly
The persons attacked have, therefore, time TO
demand assistance, and to receive IL In time to
be cured-its symptoms are less grave, and the
The cholera is said TO be on the decline in
Trebizond but even the last reports give the
number of deaths as amounting daily 10 from
10 to Is
Tho Financial Crisis In acknowledgements
OF the British Government and the Bank
(Frsm the London Chronicle, Oct 261
The following is a copy OF the letter addressed
to the governor and deputy governor of the bank,
by the First Lord OF the Treasury and the Chan
cellOr OF the Exchequer, together with the reso-
luton of the directors OF the bank resulting from
that letter.
DOWNING STREET, Oct IS, ls47.
Cent emen-Her Alajssty's government have
with the deepest regret the which has existed
for some weeks upon the commercial Interests Of the
want Of that confidence which b necessary for carry
ing on the ordinary dealings of trade
They have been in hopes that the check given to
transactions Of speculative character the transer Of
capital from other countries, the influx of bullion and
the feeling which knowledge Of these circumstances
might have been expected to produce, would have re-
moved the prevailing dstrust.
They were encouraged in this expectation by the
speedy cessation Of similar state Of feeling in the month
Of April last.
These hopes have, however, been disappointed and
her Msjestys government have to the oonousion
that time has arrived when they ought attempt,
by extraordinary and temporary measure to re-
store confidence to the mercantile and manufacturing
For this purpose they recommend to the directors of
the Bank Of England in the present emergency to
large the Of their discounts and advances
approved security but that in order to retain this
ration within reasonable limits high rate Of interest
should be charged. In present circuwstances they
suggest that the rate Of interest should not DO
II this course should lead to any infringement Of the
to q it, MEETING q
they will rely upon the discretion Of the directors to
reduce possible the amount OF their notes. II
issues should take place. within the
Her Msjssty's government are Of opinion that any
extra profit derived from this measure should be
red to the account Of the public but the precise mode
| Of doing 30 must be left to future arrangement
Her Majestys government net insensible to the
evil of any departure from the law which has placed the
currency Of the country upon sound basis bat they
feel confident that, In tbs present circumsance the
= sson they have may be
that Law and the vital principle Of Rrs;s1ynE the CON
Va havA fha hOn IN hQ Oentl
Your obedient humble servants
(signed) JOHN RUSSELL.
CHARLES WOOD.
The Governor and Deputy Governor Of the Bank Of
England.
BANE ESGLASp, Oct. rs, isl7.
GENTLEMEN we have tho honor to acknowledge
your letter Of this days date, which have submitted
to the Court Of Directors and enclose copy Of the
resolutions thereon, and
We have the honor to be, SIRE your most obsdisnt
(siguedJ JAMES NORRIS Governor.
II. J. PRESCOTT Deputy Governor.
To the First Lord of the Treasury and the Chancellor
Resolved, That this Court do accsds to the recon-
contained in the letter from the First Lord Of
the Treasury and tho Chsncsllor Of the Exohequsr,
dated this day and addressed the and De-
putty Governor Of the Bank Of England, which has Just
been read
That the minimum rate Of discount bills not hav-
Ing more than T days S,e rum b. per cent
Exchequer bills and other approved securities In sums
Of not less than and for periods to be be nxed By
[From the London Times, Oct asl
That the Bank Charter Bill should have been
virtually extinguished at the moment Of Its first
severe trial. can hardly be said to have been an
unexpected event. That the step should have
been announced this morning, however, Is very
generally matter OF astonishmenf. Had II been
Occasoned by combined movement Of its enc
mics during the pressure IN the middle OF last
week, or had it's doom been foretold for the very
first night of the next session Of Parliament, NO
one would have felt surprise. Those who most
admired its principle saw too plainly the effects
OF its immutable action to look on with any
thing but apprehension when the question Of It's
existence was to be decided by the voluntary
acquiescence of those upon whom Its stern les
son was to be enforced. In calm discussion, and
amidst almost universal approval, the bill was
passed. IL tcds to pr0uide restraint against
national folly scheneper IL should reach the eItsnt
of eytiangcring national credit, but there ,cds
possibility of insu-ing that this pr opision, made
in soberness, should be voluntarily dcquiesced In
,ohen excitement might reach its height. II was
admirable to see the pledge taken, but II was
also easy to foretell the probability OF Its being
broken. But, let that event occur when II might,
it was always supposed 1t would be during the
rush, and not at the subsistence OF panic. On
er feeling Of steadiness. On Saturday ac-
counts came from Liverpool OF "Percep-
| tible improvement !" from Manchester II was
reported, everything here continues quiet, ana
vail while from America we had tidings OF
| bullion on its way, TO the extent OF upwards OF
a quarter of a million. With Monday came re-
ports of a meeting at Newcastle-one of the
great centres of Acknowledgements unre-
served confidence in the banks, coupled with ac-
counts Of persons bringing back their money,
and being very properly refused permission TO
deposit II ohiie from 81. Petersburgh, Amsto-
dam, and all parts Of The continent, came tidings
Of eren larger shipments Of gold than those ,chich
had been announced from Americo. At this mo-
ment meeting in the metropolis, similar TO
that at Newcastle, would most probably have
been the only thing need, to complete the Iesto-
ration OF confidence, at least OF that kind OF con-
fdencc which renders the legitimate trader safe,
while it leaves the speculator still power
less But the bankers OF London raised no
word of response to the provinces. Complain
ing of the ~ want OF confidence" they per-
formed what they considered to be their duty
to their country in answering the improved
feeIinn hv a terrified rush 10 Downing street.