The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-10-29

that alternative they will doubtless refrao
from tightening the .'screw" This ID the likely
the conviction which experien 30 OF
last autumn must have forced Upon their minds, viz
that the ADVANCE Of the rate OF discount not
that accompanied by restriction to the class
OF bills 10 which discount will be extended, Ia utterly
Inadequate TO the preveI uon tae export OF the pre-
cioss Meals long the necessity OF any
other foreign State compels purcnases IN this country
That tsen necessity exists evident from the lass
sta ement Of the Bank OF France, and large drain OF
bullion rs therefore be expected 1t is however alleged
That ss these purchases made nj soss they carry
that the amount Of premiums paid the bullion mposei
n,o France from February last 10 last month, ocsn
q period OF nine onhs amounts ESQ TO only. ~
about 1854 tt6 per monh. Now, may fairly bN sskei
whether considering me magnitude OF the interests In
voived In the maintenance OF = tolerAbly easy money
France that the Of such Duut
the above rs most frugal and mot poltcy II s
certainly not an expedeIt sanctioned by political econo
my, but II has been successful will doubtless provs
SO again Under the present system of restriction
similar cannot be pursued by the Bank of England
nasmuch as that institution Is tied down to axed price
for gold VIII cb cannot be exceeded diminished, not
witGsiandinR the demand which may exist the sup
pies that may come forward,
paris Correspondent 20 (Oct III, Of London Post
The monthly publication OF the banks statement on
the OH iDsiant, has answered pre- vious oectaons
The metallic deposit has undergone dimnution OF
es0CO00O The genera belief was that the deficit would
be at asst of OOC and s the general opinion that
the late asures taken by the Bank Commissioners have
prevented this anticipated difference.
The Foytefeie shows increase of ~, ,000,000 This
fact should argue well for the activity Of commercial
transactions If he speculation silver could be abated
and fact entirely prohibited by the government. The
fnaocal statement SHOWS that quite time that
the bank should adopt these last restrictive measures
The advances ngots present increase OF 81 000
whilst tn ose on pubic securities and railways present
decrease of 10 900 600.
The originated by the "rescrve' have been aug
mened by SO 000 o0O which would easily prove that
bank has come forward 10 prevent the progress OF the
crss What would have happened without this po yer
full Intervention one knows. The premu ms pAld on
gold and silver show rise the last month Of 63 ooO
But why have the bank shares falens
The issue of shares has increased by {, 900, 600.
The account with the Treasury presents diminuon
of II 0O0, ,00O which is q very satisfactory result There
has been very little variation IN accounts.
TbiA bank statement In all It's details, though not
satisfactory wished for H. for the present crisis
good proof that the Minister OF Finance rgat In his
last report declaring that the financial position OF
France Is anything but alarm ming.
The measures adopted by the Bank Of France
tanly producing good effect, and there Is stroag
tendency TO an Improvement calculated to continue.
There good reason however to believe that the rise
In securities will be slow, but it will be the more arm
II fas also remarked that the dsposaoe capital hat
pronted by the low rate of the public funds nuy
rites compliant the effect Of which will be felt
next liquidation As regards railway shares the Lyons
is the only which has decidedly resisted the panc
explained easily by the approaching opening OF the cee
bfated bridge La Quarantaine.
To day the market opened steadily, and prices
improved at the beginning OF the business but after
wards sbghtly gave way.
From the London Chronicle, Oct Is
The arrivals OF the precious metals in England during