The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-10-20

have tasen place today attributed to the announce
nent
The acvcss from Paris this afternoon mention that the
Bank d France in sddion to the adopted yes
teday, have imposed new limitations amount o.
70 per cent Of their value be advanced on entes
stead Of 70 per cent while railway bonds and shares
70 BE 20 per instead Of as heretofore W per cent
1t 10 understood that, Notwithstanding the plans
adopted by the Bank Of France fer obtaining gold Their
has now fallen below f1o 600 ooO This result might
have been apprehended. They have attracted bills on
London from other Stiles ano nave mus ssn1ese ts
degree drtrus has probably been excited BY which
the tendency 10 boarding has been stimulated.
this side obtained by the Back Of France is
serted have been by paper between
their clearing the arke. Of all the bills and bank
London that could be procured. The whole process
therefore appears to have been foowsThe Bank Of
France proposed TO the house OF NJ ST. Pan Of Paris
to pay high price Tor certain amount Of gold tins
price such az to enable NJ. st Paul to give high
terms for draughts London, which accordingly
bought up in all quar- tiers and transmitted to agents
this SIDE with instructions for the proceeds to be remit
ted to Iais in gold. On the gold being taken to the
course took place in the notes Of that institution and in
this way the affair Of the first f3 600 600 was accom-
81 bills naturally obtainabie in Paris would have
nished the full supply The artificial prices offered at
traced bills from other quarters of the continent and
thus the remtances have probably been composed OF all
the floating claims London that could be transmitted
TO the Paris market from the trading ports Of Prussia
tiatiOn 81 he remaining 81 600 600 was managed n he
same way is uncertan but assuming even that the
whole has been Obtained it may be regarded
later, come back.
IT. for instance the average total Of claims London
afoat the continent of Europe at all periods when the
rates Of exchange are not against is f0 co., and
that average be suddenly reduced by "a our po-
ston in relation to the continent is precisely to that
tent better than in ordinary ties and while the aver
age is being allowed to regain its former aggregate
shall derive the benefit of retaining "a 600 that would
otherwise in the course Of trade pass through instead
bic claims of England the continent were suddenly
collected together, and sent for realization in the
mulaed and presented could any time draw thence
equal much greater amount and it IL the advan.
sge Of the raising Of the rate OF discount by the Bank OF
England that it promotes in legitimate instead Of an ar
tcial manner process Of that description, inasmuch
by rendering money induces the commercial
communities TO call in from abroad every amount that
From the London News October 6.l
Whilst il generally recognised that the chief imme
date Of the present drain Of goIi the exraord
nary operation upon which the Bank OF France has
tered, not, by following too implicitly the one
sided views put onward in certain quarter lose sight
OF the fact that other influences have contributed power
fully to the result witnessed OF these, three are
chiefly Of importance viz the Turkish loan OF five mil
lions which may be properly described essentially
bullion loan secondly the steady demand for coin for the
war expenditure abr oad and thirdly, the drain OF silver
India and China. As regards the first named, little
uncertainty can exist as to it's extent 0a1 $50 being
the utmost limit of the demand whilst the actual remit
tances this diminished by the disburse-
ments Of the Ottoman government in this country for
military equipments &C.. by the advances which had al
ready been made by certain capitalists to the Porte prior
to the issue Of the oan and again. by the facilities which
exist for RENTING at least portion OF the in bills
Neyerhess when is recOlected that the entire period
allowed for paying the loan was only live months
win be readily seen that the clement of monetary dis
tnrbance involved in this loan is by incon
siderable With respect to the second tem-the Bri
fish foreign expcndlture-an estimate Of its probo
BILE amount scarcely be formed. As regards duri
tion it will doubtless continue long the Itself
The present remitances Of specie for the comissarl
calculated by competent persons to amount to some
thing like $500 GOO per month"; and moments reflection
will show that although means may be found for remit
ting portion Of the amount in the shape tf mercantile
paper the public service in the remote theatre OF war
cannot possibly be carried without plentiful supply
Of hardcash. Moreover as we have before pointed ont
these disbursements are not limited TO the mmed-
countries in either the north south Of Europe in
which the agents Of the British government Rave
not made their appearance as active purchasers Of
requisite other for the service. Whether the
pork in Hamburg, huts and horses in Austria, cattle
and provisions in North Germany, Sinope Bulgaria,
kerch Trieste, and OF other places the result
aims the same-the expenditure is essentially for
egn one, and viii inevitably require large mass Of spe
cie These disbursements, we may hope, apart from
their tendency TO bring the war to successful termina
ton, will not be eventually uDprodueye Of benefit in
a commercial point Of view nasmuch as our foreign
tiade will be stimulated and fresh markets opened up
for manufactures. These more favorable points,
however, belong fear rather TO the future than 20
the present.
The sustained Asiaic demand for silver acts think
equally important part in promoting the drain Of gold
from this country In support Of this view need only
adduce statistics the actual asceraned exports Of ST.
to India and China. The subjoned figures refer to
the shipments from southampton IN each quarter since