The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-06-06

metallic reserve, compared with The liabilities which
may be called for represents for the Bank Of France
proportion Of ~ per cent. On April 29th, that
proportion represented for the Bank a. England
by The two estsblishments are consequently ex-
planned by the difference of their situation
The Constitutional says
The increase Of discount was caused by the bread
crisis The nsuffciency Of the harvest was destined
to have among other consequences, in the first place
a large expectation of specie to pay for the corn
which we were obliged to purchase abroad, and, in
the second place, to reduce both consumption and
business, by forcing every man to pay larger sum
for his food The duty Of the bank in that situation
was clearly traced out. As dangers revealed them
selves and became more pressing, it was bound on
ton of specie, and on the other, to moderate in
certain degree the spirit Of enterprise and specua-
ton. The bank, it must be admitted, adopted
as ass u mission IN the %s
tanned the interest at per cent, for several
months after the Bank of England had increased
it. But at last i was necessary to yield to neces-
fell to 1852 900 O0O, the rate of discount was raised
to per cent. The expectation Of specie having
again increased, and the reserve having fallen in
January to 295, 900 000f the rate of discount was
again raised, and fixed at per cent. These
measures were called for by circumstances, and &C.
cordingly they were accepted by the commercial
classes without any objection. But It was evident
that this rise could only be essentially temporary
that it would not fail to disappear with the cause
which occasioned it, that the discount would be
brought back progressively to its normal rate Of per
cent according as the financial situation should i'm
prove. What has occurred during the last few
months! We have seen the decrease of the me-
talic reserve make room for an increase, which
has regularly continued, and which ended BY
taking large proportions; Thus, BY the month
of March, the specie Of the bank had increased by
about IL 900 00Of and it amounted to 292 900 DOOR.
From that time the ascensional movement has
energetcaly continued. The increase was II ,000,-
OOOf in the following month"; and the reserve reached
500 ,000f. Finally the new account Of the bank
reveals new increase Of $4,000 O0Of, and informs
us that the reserve is at present 400 O0OOf: We
seven Or eight months ago. before the bread crisis
was felt, and when the bank discounted commercial
bills and made advances on public securities at
per cent The conclusion is evident. Not only has
the export Of specie been checked, not only have
we no monetary endorsements to dread, but In
stead thereof money flows to the bank, and is in
France everywhere most abundant. The moment
has then come to remove the oner0us conditions
which circumstances rendered 1t necessary to i'm
pose on trade and manufactures.
The shirsvrecks OF England.
The London Ntus says the Parliamentary Blue
Book under the above title which is annually pre-
sented to Parliament, has just been published for
the year 1852 It comes at an appropriate time 8.
accomplishments for SO fearful record of wrecks
and devastatons. In running the eye down the
column Of casualties, we light upon II lives lost Is
all drowned" Could it be credited were it not
for the official accounts with the authority for each
case appended that lis wrecks, with loss of 92o
lives, occurred on the coasts and within the seas OF
the United Kingdom, In the single year OF 1852
Yet SO it is OF this number 533 were total wrecks,
the remainder stranded and damaged 80 as to re-
/ quire to discharge cargo.
With the present number of the Life Boat Jour.
nal is also presented wreck chart of the British
Isles, showing all the casualties to shipping which
occurred in the and the shores Of the United
Kingdom in the year 1852, amounting to the fearful
moment and cast careful look at the chart. Each
black dot in the sable border which sur
rounds the shores signifies a wreck, in 533
cases total wreck, and in all other cases such an
amount of damage as to require the vessel to dis
charge her cargo to repair. The number OF lives
lost far as assertaned, although doubtless many
! are not recorded, is 900. Reflect for moment on
the vast amount of misery that this loss Of life must
entail surviving relatives and friends bereaved by
this fearful visitation independently Of the loss of
life to the unfortunate sufferers themselves, and
ask yourself the question: "Have not the power
to prevent to extent the recurrence Of similar
/ distress ~
Gladly as we would enlist the sympathies of all
in the cause we advocate, do not wish to excite
:, arassing feeling in the tenderhearted, but, by
simple relation Of facts and figures, to appeal to
the sense of duty In countrymen, and especially
to the wealthy merchants Of this vast metropolis
and Of the large cities, Of. Manchester, Brming..
N,
as they are by locality from the pain of being eye
witnesses Of these of Distress and ask them
to aid us, with their purse and with their prayers,
in the sacred cause in which we are engaged, Of
the preservation of life from shipwreck.
From the summary attached to the register we
learn that the casualties in each month were as fol-
lows;-Janlary,. 1875; February, Y; March, %;
September, e.; October, l64; November, iss; De.
cember, 26S-total l,ll5.
Or these 464 occurred on the east coast of Great
Britain 1853 on the south coast, and 235 the west
coast. l2s wrecks strewed the coasts Of Ireland,
were cast on shore at Sicily, at the Channel
Islands s on the Orneys and Shetland and Is at the
Isle Of Man; the remaining so occurred in the sur
rounding seas. The gales Of January caused l26
casualties, as shown above; they prevailed during
the whole month and the early part of February the
spring, summer, and autumn were moderate, but on
the 2stlfOctober an easterly gale began that in six
breezes and short lull Of moderate weather were
followed by gales Of ordinary force at this period Of
the year, but on the Gath December heavy storm
from the southwest burst over the country and con-
tinued to the end of the year, with such violence
that by the 2Sth there scarcely vessel in the
nei9hborfood of the British Islands left at sea;
some had found safety by running into port, while
of others the returns show list Of 1873 casualties of
which los were totally wrecked, making a daily av
erage of 80 wrecks during this awful and destructive
gale.
The whole loss of life during the year, rs far as
has been ascertained, amounts to 920 Ofthese, 100
were lost in the Amazon, destroyed by fire on the
4th January at about 80 miles from the Lands End;
Is in the Columbus, wrecked on the 9Th January,
neglect Of the Dunmore pilots; IL in the John Tooe,
wrecked January q, on the Arran Isles, near Gal
way; Is in the Amy, wrecked March %, at the
Seven Heads, near Rinsale; IS in the Mobile, wreck
ed September 20, on the Arklow banks 10 in the
Ernesto wrecked October ~, near Boscastle, Corn
wall Is in the Minerva, wrecked November IL,
near the Bar Of Drogheda; Is in the Ocean Queen,
wrecked December 26, at Wembury, near the Ply
/ month N Lon 40 m rod
December %, at Dungeness; Is in the Haggerston
iron screw collier, lost in the gale of December 81
of Fiey; So in the Lily, stranded December %, in
| the Sound of the Isle Of Man, when her cargo ig-
/ nifpd and ehp blew nm In tho Alchiadoo vvracE.