The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-10-30

100000 just twice the now alleged 10 have been
taken from
The difference in the results between the two periods is
be attributed partly the lower point hence the de-
cline in the bullion commenced, but chiefly to the differ
between the desperate unsoundnes then prevalent
and the universal healthiness OF our existing commerce
Even by the most sangune however, thus heaithlness
could scarcely have been supposed To be such 10 have
enabled the shock wihsood in the thus
witnessed When it is recolected moreover not only that
the Turkish loan and the sudden demand for grain came
at the moment but that the spectators and alarm
lists OF all classes had previously in their ignorance OF the
real state Of the country and before even he first whisper
Of the of the Bank OF France been eagerly put
ting forth that instead Of being in safe cond
ton approaching crisis from natural circum-
stances the public will that they have the highest
10 rejoice that not having permitted themselves TO be
deceived the actual OF the ncon yeneuee they
forced TO sustain they have been in position 10 look
upon it without that dismay which would Incidentally
have increased its evils
The London News does not take so favorable view
The decline in cotton at Liverpool OF farthng, IL APP
pears mainly induced by the very favorable accounts
just then received, from the American crop.
FRENCH FINANCES SECURITIES.
The latest Paris quotations are for the three per cents
full paid GA AS credit Mobilier, 1882, 800 ir. paid
The great decline in French renes is attributed only IN
part to the discovery of short wheat harvest in France
but in great measure to the previous speculation 10 the
subscription to the last loan made by parties who did not
intend and indeed could not pay all the successive install
mens their subscriptions, but subscribed with view
to sell at profit before the subscriptions became due.
The discovery OF the short crops prevented the appreca
ton in price and the subscribers were then obliged to sell
| at a loss.
The Paris correspondent Of the London Times says 1t
is affirmed that if great establishment had was
previously the undertaken the oan the government
would have had il is true the financial ovatons it OBJ
tanned three different occasions and which were,
doubt aatterng it, but all events the value of its
securities in period Of crisis such that which has
to be endured would be better sustained for great
tabshment would get rid of its stock at debased price
as individual holders have done but would keep it for bet
/ ter times.
matters now are II is apprehended py the less conf
dent part of the public that with the continuance Of the
war; and without any prospect of peace, the rerte may
fall to 60 francs and undertha is 10 the price at
which it quoted during the agitated and uncer-
| tain periods of the last republic.
Commercial transactions in Paris very calm during
the The export trade however, has recovered
activity in consequence large orders received from North
and South America The adopted by the
Bank of France are deemed likely to force merchants
limit their credit and consequently their business The
price of and -four continues to decline Tie fall is
general in all the markets which amply supplied The
late rains have done much check the rise by
bling the mills to do work The Importation of for
egn grain, by compelling farmers and spectators, who
held back their produce in the hope of selling adj
vanageousy, to bring it forthwith to market has like
wise contributed to produce that downward movement
j The Baltimore Sun contains the following interesting
table in reference to the Bank Of England
"Thc ability of the Bank of England accommodate its
customers Of pressure and when in consequence
of the war; the fluctuations of the public deposes sud-
den and rapid is limited by the provisions of the Peel
of 1914 to of circulation equal to the bullion the
issue department. and seventy millions Of dollars fl4
100000 sterling, in government debt This is the fixed
Standard and unaterabe except by act of Parliament
in extreme emergencies by order in council of her Majesty
ministers in the Of Parliament When the bullion
of the bank is redundant and the commercial demand for
discounts moderate to be supplied in considerable
by the private and onstock bankers the
of notes unused III the banking department is large Thus
the 18th of july when the minimum OF interest 81
per cent the notes issued about f3 084D66 being
the representatives of fl4ooOoo0 public securities and
tl75sao66 bullion, less about 100000 in the banking
department. while the of notes fl04l 1886.
From that date to the 9th of October the minimum Of in
terest having rapidly advanced in September TO 81 per
cent the bullion and notes in down together
while the demand for accommodation up the loan and
discounts from fl3328 sos to fl9 79l ,293 follows