The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-10-19


we arrive at the mere net cost Of the produce Inn
ported for the manufacture Of war materials, the
tenance Of the forces and these are liable
IN, since the producing countries better
ers TO US in consequence and much Of the Of the
forces finds its way back to their families We must also
estimate that the expenditure Of enemy Il heavy;
and that We share I to very
Of the purchases ne Is compelled to make from western
Hence there is inherent TO avoid any hasty
assumption that tho Ia too much for
camille strength, and experience has thus far sup
been unusually free from monetary disturbance
and although our expenses were as heavy ak months
fssa s 81 mot ss bullion a s
january TO Els 57b the 30th OF last while at
present IT not only stands above the January limit but Is
fully equal TO the total h. ID just after the began 10
aoopt the conclusion that the drain of E 000 during
the past six weeks must be the result Of the was
deed by any casual ccumstances since the previous
gold supply had enty not been increased by any
shown fluctuations, while from California they had
been below the amount upon which there il reason TO
tion, moreover has been equally uniform, and their
portations in fact of late have been rather under an
over their requirements.
II may consequently be repeated that although the
effects OF the Turkish loan and Of the recent ain pur
csses together with those Of the unbroken demand for
upon the strange proceedings Of tie Bank Of Frame and
the certainty Of new loan being required BY the English
ercise some time an adverse influence our prospects
are not only ns sound as they werea ely described TO be-
but that the convictions then entertained have
unparalleled movements OF the bank having
failed to produce single sign Of commercial uneas
ne tmvencyisd problem Taich time aiunc can solp and
that calls for Me utmost ,oatcfulns The part qfMe
9orernmn, Is not 10 BE- denied II II should present
danger, the only remedy must be reduction, since /,
cannot be touched by constant advance in the rate Of
merce that forms our BEST aepenaence The prcmon.ory
Indications however would be likely to be gradual and
although at Vienna, Berlin and St. Petersburg the high
est copgra uuons have doubtless been upon the
disturbance of the past few weeks, and tho
signed for them there is full reason to hope that the
financial igor Of the country under system Of free
trade and convertible currency equal much great
er trials than to which It has yet been exposed
from the London Chronicle Oct. Al
The acceptances OF Messrs De Ise, Janvrn DE Ilse
we're returned this afternoon to the deep regret Of many
The house was a very old one and highly esteemed
They have branch at Rio Janeiro, another at Montreal
and correspondents at Guernsey and Jersey Their ab
ies are estimated at about fi00 000 This suspension
produced very unpleasant feeling in the city and in
connection with variety OF rurnors which cond not be
traced TO any source, created gloomy impression the
continued tightness of money and the export Of gold
tending materially TO cause unpleasant antcipations,
which the knowledge that the present unfavoabe posi-
lion OF the market IS quite unconnected with ordinary
business operations failed to couneract Mcssrs Hankey
Co., late In the afternoon announced that they would
protect the drafts Of the Commcc Bank OF Guernsey
drawn upon Messrs. DE fisle.
There has to-day been increased tighness in the money
market and the current rates have been fully i've per
cent The demand increases instead of diminishing
y experienced The recent extensive shipments OF gold
to the Continent, To which have often and a.
viii We have roed reason 10 know s be for some linn,
TO me source of anxiety and to persona perpex
~ THESE operations ~ we have before mentioned
totally uhconnected With trade Had they reference 10
transactions they would have shown In the
exchanges but they have not done So II has been sail
that She gold thus sent abroad will shortly back
again. The matter is full OF intereet remarked
yesterday that too much attention cannot be gwen H.
and knowing its importance we have devoted considera.
nd to
nv sigate these opesaions, and to trace them from
their source 10 their end have arrived the
that ndgoidhynss for further cTorations of gold,
uadcr Frecieeiy similar circumstances, haze been
7ened and that the shifmets ieiH continue We
Of very large amounts and extend period Of
time. The negotiations themselves, and the tian.ms
so Of the gold, indeed everything relating 10 the mat
ter conducted with great crcumspoco and secrcsy
That the wants Of France have by these been sup
Piled there can be little doubt but the shtpnieats are
cenfned 10 hcf country They deinefto Jar Rusa. Not
only do circumstances, which have unsvoidaby trans
prod denote this but there which make this
not merely probability but certainty There two
great secrets embodied In these transactions They
where does the gold go to- and how II paid fors The
first readily answered by the general wants Of Euro
governments for purposes but the second Il
atill mystery We know that the gold Is paid for by
bank noies and they are obtained by means Of foreign
bills drawn on London but the rest Of the operation Ia
sedulously preserved from investigation. Are
found to pay these demands by the sale Of securities DC
There certainly has no. been pressure of stock thrown
on the London market. Although cannot discover
the whole course Of oceeding we DO know that these
abroad will not come back again
From the London Chronicle Oct. 6l
Wewoud particularly direct the attention Of the
evening" made up to last Saturday They will he found
to present most important features well deserving their
special attention II viii be found that there las,
week further demand made the bank for
&c to the extent OF I'll 600 sterling which brings the
total up to within fraction Of eco 900 600 unprece-
dented amount Of liability To be provided for during
season Of general inactivity Of trade The Of the
enormous demand fer discount Of late the bank Ia
for shipment the Contine mt Besides what has been
drawn direct from the bank the exporters have pur-
chased most Of the late arrivals from Australia &c. The
present returns shew Jarhr dipnaio1t IN the stack Qt
tpiiion q E329,61s The decrease moud, II oourse hdrs
ben greater tm al rry large amount had BEN cysnoi
IN the Horkd There several other large alterations
expected in the returns but they all have reference
the two items above referred to- The appearance Of this
statement at once exonerates the directors from the
charge brought against them by Of contempora
RES Of having indiscreeiy and nconsiderstey inter
ered with the interests OF traders by raising the rate Of
diseornt yesterday.
(From the London News Oct a.
The English funds to-day have experienced further
n % dy rs pae eosss .ass sa ss & a. e !, s
pank Of England than counterac. the steady
nents Of the public decidedly depressing effect Is al.o
r. this country for account Of the Bank France
,inues unchecked Upon this important subject We can
mention facts OF moment. In addition to the first
contract for IL 900 600 in gold for that eAbnshrnen
the completion Of which has already been recorded, a
further contract for the supply Of additional sum Of
no lers than th &c millions sterling in gold has we are in
formed, been taken in London and IL in of
execution The ultimate losa accrung 70 the Bank u
France from the premium which paying for thi. gold
will be- II presumed considerable and although tho hrst
contract Is alleged TO have been met tna @ by bills
London which lying 10 Paris and by remtances n
silver II is difficult 20 understand ho the Bank of France
proposes give this country equivalent In the natural
o trade for thee additional amounts of
gold. To extent the prefent e'iux may be re-
garced virtual discounting on French account of
future arrivals Of The precious metal from Australia and
California but IL s evident that ancipations Of his
nature must be involved 10 extent In uncertainty
The drain, however, Is regarded becoming
rious and mperatiyely calling for policy Of ter
action The part Of money market. The gradual
rise In the rate 81 discount here il In satisfactory 20
has been attended by decided Improvement in the
tirents exchanges, and although the Bank o France has
involved IL Ia hoped that further rise In the value Of
money in London viii impose a check Unier these cir.
cumsances many persons express hope that The Bank
n England VIII not postpone too long the announcement
of further rise In the rate Of discount The nc0nye.
mag LIZ a hr