The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-04-30

q for ths ssesuuts ths prvssut vxauvis sxchsque,
bills have improved to So premium, and India bonds Il
A. premium There has not been any quotation for the
Scrip Of the loan this moraing India stock Is Al
246lz and Bank stock for the account at 204
In the Spanish Three per cents there has been good
r csna y, rsnre o Sa , y. a & M sve ne
cents have advanced from 231z to "a The Dutch Two
and-aH Half per cents have ruled from 5sx to SO. Da
nsh bonds have realized 86H without the dividend
Grenada bonds have realized from 1891 to 20H.
In the Railway Share Market there very little doing
this morning. The prices are very generally steady.
QUARTER BEFORE THREE.-Consols for account, ssh
AZ.
Pans BouRsr, April Sour market has been some
what animated to-day, and fair share Of business hsi
been done. The Bourse opened at about the closing
prices Of yesterday and for time appeared to be
what weighed on by tho arrival Of the English
papers with fall; this feeling, however, soon wore
on and prices kept steadily advancing to the close
when threes called at 7Sf 75c and ves at l6fIoc
The market closed folowsThree per cents for cash
7sf 6Oc account 7sf 75c five per cents for cash.
lief 6oc for account ll6f70c Bank Of France shares
324Of Neapolitan loaf l0c Spanish threes, 34'S 40
fves, not quoted
From the London News April 81
The increase of active circulation in the BANK Oh rns
land is explained by the increase Of other secur'es
and the decrease Of private deposits. The amount 10
which these other securities consisting of bills dis
counted and loans securities, had attaiheo NJ VIZ
date could hardly fail to have excited some os ~
in the bank paror in view Of the constant egrcsS VI
hard money and the decrease of the reserve furd ~
above referred The returns for the week now ehaeu
comprise large proportion, though not perhaps inc
whole of the specie insured for shipment py the am
bra steamer Leaving Liverpool on es
mated ut about fsO00oO. This specie would be drawn
the bank by the double action OF checks on pra
deposit or account and securities discounted
further drain upon private deposits with an increase
of other securities may therefore, be looked ior UNI
less meantime loans and bills shall have been running
out and not replaced the extent and private deposits
reinforced from other quarters In the absence positive
partial OF these countervang causes, IuiInei ui
;,,,,t;o NJ fba
Although particular Importance need De attached u
the fact of decrease in the reserve OF notes ana
coin In the banking department to below fve MIL
lions, which Is the limit Of safety arbitrarily as
signed upon square rule principle to the reserve
Of notes alone, yet the active mote Sirc"aton Is
standard by discounts and loans with the liabilities OF
deposits payable demand and bank post bills due
from day day. attaching 1t must behove the directors
to look to the fund which is to contn
gencies Five millions and half may be amply sufficient
to meet all demands upon the average calculation of
ordinary times and four millions might in such
fairly represent the casual probable claims Of about
seventeen millions Of deposits and bank bills But these
not ordinary times and the bank is therefore, the
bound in the obligation not to be found at fault
any extraordinary upon Its deposite ac
count or stock Of metallic values We have however
tion and that the returns Of the present and next
week will place them closely in harmony with respect
deposits and other securities they should
The recent for checking the operations of
be accepted proof that fore
casting line Of policy had been entered upon of which
that step the first overt indication since the last ele
walton Of the minimum rate of discount The full COM
pement that policy has yet to be developed but 1t does
not require much sagacty to oresee that it is but the
to the general restrictive of
advance In the minimum rate OF interest the unit of
which, to be effective will probably not be fraction
ally split before Blame has been imputed because the
rate Of interest not raised at once prefrentay to
the graduated resolution of placing the dis
houses under greater contro and it asserted
without sufficient knowledge that less discon
would have been occasoned by the former than
hal alta 2neh 10 firav
roneous The limit imposed upon the discount houses
will doubtless affect the money operations Of this city
and such large commercial capitals Liverpool Man
chester &c., but to the Of the community and Of
the country 1t can make comparatively little or no diff
ference. The reverse would be the case with an ad-
in the rate Of interest which tells equally upon
all interests, general and local alike Between the two
theSe is the difference between treating for to-
pcal and general disease Of the body.
There is an impression intelligent quarters that in
this beginning with the discount houses, significant
hint leading inducement to it, meant to be
conveyed of bank dsfavor towards cotton bills and Lii
verpool cotton spectators.
Trammelled as the bank is by currency laws, and
its course has thinking, been hitherto pru
IDENTIFY possible conformabe to the intent and spirit
of the law In that sense and with that opinion, we
have thought it right to suggest the potponement OF
any further Official enhancement Of interest rates until
the payment of dividends should have commenced be
on the eve of commencing
Review Of the British Corn Trade during the
Past Week.
The weather has throughout the week been very cold
and ungenial and several occasions sharp night
frosts have been experienced; vegetation has,
quenty been kept back and from present appearances
there is not much prospect Of early season We do
not, however, regard this evil premature uxur
being generally attended with danger. 1t is Of
course present impossible to ascertain whether the
young wheat has been njurously affected by the low
the plant we feel little apprehension on that hand and
the only circumstance that be viewed unfavor-
able is the probability Of the next harvest being late
which might In the position Of the country in regard
to stocks prove very inconvenient. The sowing of
spring corn, having received but little interruption,
highly suspicious for field work most Of the barley
and oats have been got In and great progress has like
wise been made with bean and pea, planting. These
important abors having been nearly brought to close
have again directed their attention to thrash
ing and it is probable that increase will shortly
The time has arrived for testing whether the stocks
of wheat In the hands Of the producers be really short
for there be question that they are holders to
any great extent they will avail themselves Of the very
first opportunity Of turning their wheat into CASH
The inducements to realize the still high value OF
the article and the state Of uncertainty felt to the
future IT, therefore, the markets in the agricultural
districts be not plcnty supplied during the month
shall no longer entertain doubt on the question OF
stocks but look upon 1t the strongest possible evil
dence that tho quantity remaining In tho country
actually small represented The regular course of
the trade has been or less interrupted this week in
Of several Of the markets having been held
of the accustomed day lowing to Good Friday and the
amount of business done has not been important The
value Of wheat has might have been expected felt the
effect of tho recent fall at Mark Lane, and prices have
tended downwards in all parts Of the kingdom. At Lv
srpool further arrivals Of -four and Indian have
hand from America but the receipts of foreign
wheat have not been Large either there or elsewhere
whilst the demand for export, though on somewhat
decreased scale, has nevertheless continued.
The advices from the port just named not quite
dull last week, the important reduction which has
lately occurred there having attracted buyers from the
interior In wheat fair amount Of business appears to
have been done Tuesday at rates 3d. TO 3D. 70bs
below those current that day se'nnght and subse
quently portion Of that abatement
raj sales having been made on Thursday terms not
obtanabe earlier in the week. United States flour,
which was 1t will be recoectcd, at period Of last
week sold ut Liverpool at $685. has since been in request
at 37s per Dbl, and many holders have refused to
accept the latter price Indian seems also to have
met with attention ut improving rates, sos to a2s per
$50 lbs having been paid for fine and ASS to COS for
mixed American.
At the leading In Yorkshire stocks Of wheat
unusually small; and the supplies having barely kept
pace with the demand (tardy has been the atter)
sellers have declined submitting to greater reduction
than Is to 2s per quarter. The business done at Hull
and Leeds Tuesday was however, very circumscri-
bed. At Wakefield on Thursday, tho operations were
also restricted scale and the few sales Of wheat eff
fected at prices Is to Is per or below those current
the preceding week B..