New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-11-01

AAa.z2
We have seen from the last report OF the Bank Of
France that its bullion reserve had reached the low
point of about thirty millions Of dollars, having
diminished twenty-five per cent within the pre-
yious month alone. Ii this drain were to go on, the
Bank would be run dry BY the ED of the year. and
cash payments would cease. To prevent this ex-
IRENE danger two measures have been employed
On the one hand the melting Of silver for export to
be hndered by the Police, and On the other the Bank
of France has determined TO double, at an enormous
sacrifice its bullion reserve by contracting for sup
DIV of six millions sterling with the Messrs. Roths-
child That is to say, that in ORler to make up its
deficiency Of gold the Bank augments still further
The disproportion between the prices at which it
buys gold on the hand, and sells it on the other
On account of this contract $4,000 in gold were
taken out of the Bank of England on the llth. and
f4O, 900 on the 18th of October and the Asia,
which arrived here yesterday, brings advices OF
still further draught of above half million. Con-
scquently a ger eral apprehension prevailed at
London that the Bank of England would again put
IN the screw BY raising its rate of discount in
order to protect its own stock from emigrating TO
France. Preparatory to this the Bank has now re-
fsed to make advances on all descriptions Of Gov
eminent securities except Exchequer bills.
Now, Oil the gold the Bank Of France may
succeed in drawing into its Golfers will escape from
them quite as fast il flows in partly in payment
Of foreign debts, for settling the balance Of trade
partly BY being distracted into the interior of
France, to supply the place of silver dsap
1ataA hAs rI,
which naturally keeps pace with the increasing
Violence of the crisis; and lastly, for the supply
of the enormous industrial enterprises started ia
the last three or four years. For instance, the
great railway companies, which reckoned, for the
continuation Of their works and the payment Of
beir dividends and bonuses OF the emission of new
loans, which have now become impossible, are
making the most desperate attempts to Gil the
vacuum in their exchequers. Thus the Western
Railway of France is in need Of sixty millions Of
francs the Eastern wants twenty -four; the North
ern thirty; the Mediterranean twenty; the Orleans
forty, and so on. II is estimated that the total
sun wanted by all the different railway companies
amounts to three hundred millions. Bonaparte,
p 10 had fattered himself that be had put down
politics BY setting up gambling, is now eager
10 withdraw attention from the money market by
ali sorts of political questions; Nespolitan ques-
items, Dsnubian questions, Bessarabian questions,
Lew Congress Of Paris questions, but all 10 vain.
Net only ..uee, but all Europe, is fully convinced
that the fate of what is called the BenaParte dy-
nasty, as we'll as the present state OF European
society, is suspended on the issue Of the CONNER
cial criss Of which Paris seems now TO be witness
ing the beginning.
As we have already stated, the first occasion for
tie outbreak Of the crisis was afforded BY the sud
den enhancement of the price Of silver 90 COM
pared with gold. This erhancement-nOtwith-
standing the immense production Of gold in Cali.
tornia and Au.tralia-can Onl! be accounted for by
the It'll increasing drain Of silver from the Western
World TO Asia, and especially to India and China.
nee the beginning Of the seventeenth century, ASIA
ard especially China and India, have never ceased
TO exercise sn important influence on the bullion
markets of Europe and America. Silver serving
Us the only medium of exchange in tn use Eastern
c, untres, the treasure with which Spanish Amer.
lea inundated Europe was partially draihe1 through
the channel of the Oriental trade, and the Import
Of silver f.om America into Europe was checked b.
lie export from Europe to Asia. Simultaneously
indeed, there took place an export Of gold from
A. ia 20 Europe; but setting as.de the supplies fur
nisted by the Ural Mountains from 1910 to lo5O 1t
W. On too SINAI! scale to produce sensible results
The circu alton of silver between Asia aud the
Wes.ha1, Of course, ita alternate periods Of ebb
,pd dow depending On The fluctuations Of the bal
spce II trade On the whole, however. three
br 81, n arktd epOchs may be distinguished in the
RI. tcry If this worldwide movement-ths 6rst