The daily republic. [volume] (Washington, D.C.) 1853-1853, 1853-08-05
THE REPUBLIC.
From the Nep York Courier and Enquirer, July IS.
The Bank Of ENGLAND.

1
One ofthe singular features attending the influx
of gold from California and Australia is the de-
cline in the amount of coin and bullion held by
the Bank of England. 1t is known that the de.
posts Of gold bullion at the Philadelphia mint
during the year 1882 amounted to ISL 900 ,0OO
and upwards, of which $4,000, 900 were re-ex-
ported from New York to Liverpool, &c.; while
large sums were transmitted direct from San Fran
cisco to England.
| The arrivals of gold, too, from Australia at
English ports have been very heavy during the
years 1923; but in the face of all these addi-
tons from various quarters, the amount held by
the Bank of England is four millions sterling less
now than in July, 1852. The largest sum ever
held by the bank at any one period was f22, 232,
| 1888. This was on the 10th of July last This
sum has gradually been reduced by exports Of bull
lion to the continent, and of coin to Australia,
until now the bank holds only ELS, SIS, 905. This
is more than enough for the actual or prospective
wants of the institution its active circulation be-
ing less than twenty three millions
1t was near the close of the year 1851 that the
Bank of England first began to feel the effects of
the large influx Of gold from California. The adj
dtions from this source began in August, 1851,
and were regular from week to week with two
exceptions only until March, 1852. Up to that
period the increase amounted to $685., 1858. The
additions were still large until the second week in
July, when the enormous sum Of R22 ,232, 1873 was
in their vaults, and the gross circulation amount
ed to R35, 878,765
The operations Of such an institution must Of
course be profitable, although the rate of interest
during the past year was only 2 or q per cent;
but even at this low rate the profits must amount
to more than one million sterling, or about five
millions of dollars. .3.s:
The public deposits are less now than in 1850,
while the private accounts are larger. The pub
lie deposits show the following as the highest and
lowest for the last three years: It
Pub. Deposits. Highest amount. Lo,cest amount.
1850 ..."........ ELL ,022, 1907 s4,627 1913
1851. ............ 10,796,555 1851 ,OO7
1852. ........... 9,447,516 2,802, 1861
The private deposits, including those of bank
ers, railway and joint stock companies, show an
increase during the same period, viz:
.li Hk Highest amownt Lo,vest amount.
1850. .......... .ell,263,0l f8,850,077
1851 ............. l0,075,856 8,l2l, 431
1852. .......... l5,464,288 9,371,1l7
The Rest Cor reserved profts) on the 7th instant
amounted to f3, 1863. This item in April,
1852 was 43, 624 Alb, ON a capital Of Ella, $780,
600, or within fraction of IS per cent. The
stock has been for some years 8per cent. stock,
giving half-yearly dividends of per cent. The
highest rate of the stock in the market last year
was 234, Tin August, 1852, and the lowest quota
ton 215s, lin January, 1882
The last quotation we have seen Gully y was
228s. On the LIST January, 1852, the rate of in
terest prevailing was 81 per cent. at the bank.
Such, however, was the rapid accumulation Of
coin and of deposits that the bank reduced the
rate, at the close of April, to per cent. The en-
larged deposits, circulation, &c., are represented
in the annexed comparative statement: