The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-11-04

payment there demand for il later IN the day.
heavy but scarcely to the extent shown s526
| $50. Bank stock closed at POI to 300
was ,s
them 10 take advantage Of the opportunity Of investing IN
the funds at low prices aud they have tendency to be-
come unmarketaole 1t may be assumed II this should
continue, the government will speedily announce'an in
crease in their rate Of interest
The discount houses have given notice that they rave
advanced their rate Of allowance for money at call TO
per cent? dating from to-day Their previous rate was
| The demand for money was moderate, both at the
Of England and out Of doors but the rates charged
y the discount houses are scarcely 10 any case more
Foreign securities experienced increased heaviness
the decline having accelerated oy speculative opera
tions There were bargains IN sx per Cent Turkish at
Russian Five per Cents, 81.
In the foreign exchanges this afternoon the rates for
Hamburg and Paris rather higher With regard to
other places there no alteration ofimportance
The report the Liverpool cotton market for the week
shows an active business at the commencement with
tendency to higher rates which was eectuay checked
BY the measures q the s ssnF OF. q England
on the Paris Boursc last evening" o4f l0s for
ney and e4f 15c for the end Of the month showinga
| decline Of less than an eighth.
The advces from Paris yesterday morning stated that
| the advance of the rate OF discount yesterday by
graph reported the alteration this side when was
adopted to preserve the equilibrium between the two
this be correct It Is an additional proof Of the sautary
course of the Bank of England since is only by the
OF the Bank OF France to those vigorous
snres the early neglect of which has causei much
the present that the danger OF further
| difficulties be averted. The discount market in
Paris however, seems to be less unsettled than in Lon
don, SINCE from the mercantile letters received to-day,
it appears that good bills be negotiated half per
| cent below the bank rate
| Advices from Amsterdam mention that the Bank Of
Holland have resolved to decline selling silver which, at
hxed price, has heretofore been their custom This
will be additional obstacle the transmission of fur
| ther amounts to India and China
It's understood that the prevailing high rates of dis
houn hoAf ofpfo
amounts OF foreign stock to be sent to the Continent for
sale. A further favorable circumstance consists in the
fact that portion Of the recent drain from the Bank
OF England has arisen simply from demand the part
OF the Scotch rsh and other provincial banks In this
to-day and it is believed that the total absorbed in these
channels during the past month two beyond the usual
amount is little short OF million sterling the for
procuring such extra funds having in several instances
been obtained by sales of Excheqner bills stock.
On The other hand, against these reassugng crcum
stances must be set that the Bank Of France
is DESTROYS of procuring additional 81 100000 in
gold, and that the future Australian arrivals likely
to be purchased to supply it. The mode, however il
which the credit is to be arranged is stated and
would be satisfactory lift could be hoped that the alter
alton yesterday in the French rate Of dsconn. may be
found sufficient to accomplish what is desired and that
the pau II it has been entertained will be rescinded
The peculiar evil Of such artificial measures is that in
both countries the reaction from them must be mis-
chievous their first effects, since unnatural
bound on one side is as much to be deprecated as
the ultimate increase OF anxiety that must be felt on the
other.
The annexed communication relates to the operation
bills
CRY, October 49, 1856.
s beg to call your attention to the very serious in
convenience to which the wholesale houses
whose engagements fall due the 4th of each month
will be subject to by the resolution of the Bank Of Eng
land not to discount bills having than go days to
run except at the high rate of per cent II house
holds bills due the 4h Of January and wishes to dis
count them, to provide ,r payment the 4h of No
vemter, It win be shut out IRON the Bank of England
except at per cent As those bills would the Sd of
November have so days to run and as most trade bills
mr. dafa fha VIII
The Bank Of England Il the limit had been % days, in
The following suggests that the bank returns should be
Thursday, instead Of being delayed till Saturday :
Sir-n the mercantile community is bound to conduct
us affairs by The condition Of the Bank OF Eng and ought
not The directors to publish the weekly statement with
out unnecessary delay
Why should not copy of the bank returns immediate
y alter the directors adjourn Thursday be pa ,ed
different conspicuous places within the bank posted ia
the Royal Exchange forwarded to the Stock Exchange
and the newspapers, instead OF smothcng them forty
first see them II.
Oct. l6.
ing October 10 gives the following results, when com
pared with the previouse week =
Public deposits "a 359S 5 Decrease 60, 7466 73
Other depois 1i,e05,925 Increase 1,oes,2s
Rest ........ So. 3,147, S99 Decrease 55i,5I9
On The other side of the account
Government securities $40 556040 Decrease 1851 los
Other ecurities 49,. 192s04l6 Decrease 61O847
Notes unemployed 45s7, 40 Decrease % si5sso
ing Of e35G $40 and the stock Of bullion in
both departments is si1 5242l, showing decrease OF
f5aG,sCo when compared with the preceding return
BILLS OF EXCHANGE IN ENGLAND.
The Londcn Tins of October 18th says:-A change in
The law Is about 70 take effect which in its bearing
the internal operations of English commerce is likely 10
prove very important. From and after this day week
be 2ih Of 0ctober the summary procedure Bills Il
Exchange Act is to come into operation The object OF
famers to remove all Of frivolous ict
exchange
missory notes and the decisive character Of its prov
sions renders it necessary that every the
Try should be well apprised them. form Of writ
Of summons is TO be issued after which the plaintiff
may in y days, unless leave to defend The action be
meanwhile obtained, proceed 10 judgment and execution
Leave TO appear is To be granted only the defendant
paying the amount Of the claim into court or upon
fence he necessity for the holder to prove coDsiera
tiop such other facts and such terms to security
as 10 the Judge fit. One may be
made TO include all the parties to the bill The act
plies exclusively 10 England and we., and not to Ire
land or Scotland.
CONDITION OF TIE BANK OF VIENNA.
Vienna tCct 49, Cores pcndence Of the London Times
Nothing is yet definitely settled in the Bank affair but
reliable information has been given that It Is pro.
posed to extend The mortgage business of that Institution
iar beyond It's catra Of 90 900 00oh Baron Bruck ev
IDENTIFY intends 10 introduce the Prussan system (Which
viii now be explancd) into Austria In the Prussian pro
vnces soc,ed 'credit banks for advancing money
on real property and Tie prop etor Of these Institutions
at and t. time debtors and creditors. The
great landed propretors in each landschaf or district
s,rmed kind Of company credit bank, and then had
fneif eslhtes NhNeu DN surveyors III was tucn
settled that each landed proprietor might il ne pleased
mortgage his property AZ the credit bank II which he
member for two. thirds OF Its real value. The
ri, credit banks have received from government the
privilege Of issuing Ptaad-bige or mortgage dcels,
which placed in the hands of the MORTGAGE. who
however has nothing whatever DO with the proprietor
Of the estate which he has advanced money. Ills
debtor is the Who'll" land. has district whichcoects
the interest Of the that have been advanced to the
various landed propetors and orecloses the mortgage
The IS not regularly paid ap 1.-THE mcr'gigor
contracts debts the Landchatt, the ho Ter Of
the mortgage dees (Waadhig9 has precedence of all
other creditors. The system las proved good in
Prussia but /, remains to be seen whether il will be
equally successful when tsanspanei 10 Austria.
Foop SUPPLIES IN ROME.
a letter from Rome, ct tie 9th of October saws
The exportati IN Of corn was as il known proho. I'd
short time ago owing the harvest arnQ con.
tary expectation turned out to be Insufficient and
have been taken not only TO see the pro
libon strictly Observed but to cause foreign wheat 10
he imported also to facilitate tie circulation OF corn in
the IA eor at Rome the Pope has caused number Of