The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-01-01


requis,tion having been - " "
on the British
by which the Persian governm6dt>
that solemn engagements contracted WITH -
may not be violated with impunty, and by which eiec
tusl guarantees against continuous breach Of faith shall
be secured.
To this end force has been directed 10 assemble at
Bombay, and will embark soon as the necessary
rapgements shall have been comp eted. The farther
operations OF the force after Il shall have reached the
PERSIAN Gulf will Do guided by such instructions the
progress Of events and the policy Of the Brinsn govern
By order Of the Right Hon. the Governor General Of
India In Council. @. +. EDM0NSTO Ne,
Secretary 10 the Government Of India.
The Money Market In France and London
The Bullion Movement More steady.
From the London News, Dec III
The prospects Of the money market are decidedly
Frightening The position Of ,he Bank Of England Is daily
pey, though active, merely that usually observed ct
the close or the year The impression gaining ground
point has been reached but that ne existing rates
be maintained much longer An inevitable result OF this
n :. 20 ds: .s on ,ss
forth lest they should lose the cbanos Of the mar
ket Thus long dated com uercial paper, which only
onerous terms now commands many quarters prefs.
bills Of shorter date The evident tendency OF
this state Of things further de,ne IN the value Of
certainty 10 how high tbs rates OF discount may rise,
many moneyed people rtfuse 10 lend at ALL except under
such conditions a. ensure them the power OF immsdi
s;y wunorswing their funds They calculate, shire wdy
enough, thstthey will secure highly advantageous peal
time when the demands Of borro sers a.s urs.a. ad
general There are many ~ho make pracuce, wuen
their Judgment tells them that peroo OF moneAy ssn
Joint stock ard csmmercal security had by them and
awaiting the course OF events. This wary policy doubt
but directly symptoms reaction become app the
downward movement OF the rates Ia greatly sccelersed
b. u. % Of sSs
nsrket s the present moment and We shall be surprised
II il does not quickly lead TO rs natural resua further
An examination Of position OF the Pank OF England
Will fully ndrm the cheerful view prevalent
Com pairing the with that for The end
pg Inc Iss Of November when the bank terms were
per cent for 90 days, and per cent for % day bills,
sepsble improvement. Ia presented Toe Aggregate
Eb4 4T2 vhst the total securities hello In the banking
epsrtmept-goyernment and ''osher'-sho~ the mpor
&C. OF Gl 760, 70b II In favorable syn tina
fi ee3 7sl Of this latter gu In the ''otber" securities
the total 81 which now reduced 70 eli, 7lb, agsns
fletb3,<40 on The LIT November The falling
shen We recall 70 mind the advanced period
OF financial quarter and also the fact the Bank
buttng OF the transfer books ADDING tofsther
ABOVE enumerated, viz, fS4l Az Increase In de
pos and q Ieo zoe decrease 70 securities, we have
indicating POSITIVE incre1e In the BANKS means Re
ferrng TO the reserve OF unemployed notes. nud "a
sisnding the Satisfactory figure Of C. 49,.
$50 agsnst e. q43 665 the LIST ult The incrsase 10
the com and bullion N I'm oortAnt amountug 70
fsse,sTi sympsomatio Of the directors cond-
oencc In the gradual subsistence OF the recent pressure
thai the st return, extending 70 tue osn inst, pre-
wtehs, viz, an incrsase Of fise,oo In the govera
ms ut securities. II Ia natural 70 INFER that this
III oes cnsns a. ,ss c peassa oy rs ssnI
monetary arrangement and nov Withdrawn. Had the
Bar Jeff this stock In tho market, would have been
compelled NJ the stock Exchange monthly settlement OF
the ab instant 70 paylsome or pcr oent pcr
interest for the accommodation and a. tho directors
the stocE, lis Withdrawal from the market q natural
coDrequepoe Future reforms win probably exhibit
nrh' ooon,, under The head Of Government securi
te, the position Of the institution becomes stronger,
is available increase la well
% qusrers we even hear the picion cd thai
he bank hss recently purchased stock In tue opso
market. We are unwilling 70 imputs blame unless
upon very positive evidence, and will therefore
oopnne ourselves for the present 10 hiouog that
any urdue nuperns with the stock murss.
The bank could not be permitted 70 use in normsu3n 10
cau,e changes In the funds for In own profit We're
ttm OF this kind 70 be osnnved a. 90 mish, 5000 be
tuhecled 10 The scandal Of seeing the bank buyng sell
ma 10 tie market TO the loo OF less favored parties and
usokIg up liz operations BY alterations In the rate, Of
rbcoUnL We must refuse 70 boteve that the directors
VII attempt W employ IN 80 que.tnnaole manner fanis
Witch would be much more Iegiumstey devoted 10 sup
Wbi the Bark Of EngIsoo has thus materially strength
ned he position, the Bank OF France has also made pro
In The same Satisfactory direction The increase
bovn In the Last return, OF 81 10 the ana
bullion, accompanied By decline Of reuiy nslf
=
Ib.l The immediate 6iflsuldes Of the bullion
Grain have been TO considerable extent sur
mounted, and warrants the hops Of ,ounder
sais q the money market sui, ABOVE all confidence
mUst be inspired by the wholesome rgor with which
the bank has dealt with the Bourse on the ina OF
June sst the aggregate Of advances Renies and rail-
say SECURITIES gas no less than fs,s7 500 Tuers nss
.ince been = continual reduotsn ana tho total 10 nov
only ca 3s7i6o In nus adopting regardless OF the sp
plcaots Of the Boursc the advice tenderei 10 OF all
srusl observers the Banb France has sho
epcnd OF action tnsn most pare. had looked for
produce the expected favorable results aud the time
seems 10 have srriven wnen some relaxation mar be
looked for. 10 so far 40 the Bour.e " concerned, The
oir'ctofs will DO well 70 KEGS the reins tight but
French trade resu,es assistance, and most persons
would rejoice measures 10 tot, sense 70 be imme
dstsly soopted The Bank OF France seems W be wsn
for the Bank Of England ~ move drst; and indeed
tes no vslo reason why the extraordinarily hsh rate OF
y per O. Mt shouli be longer maintained here In this
e.sthy county, the best suppiied with capital IN the
vore seven spd sin per cent unnsiursy nigh
tsue Tor msney 10 bear; and experience proves that
such extreme terms the more 70 ASSUMING aspect Of
MOI e.ry affairs Frsnoe despite the vient fluctuations
one Bourse wbch arise ,sther tom the munster eper
suobs o Individual Spectators, than from climate
scWp me more favorable movement Of tue Chinese en-
bsl gee which hrs somevhs, checked the ao~ Of silver
70 that quarter and the recent fall 10 prcs o. silver
Ion 90, form Satisfactory features DOUBTLESS large
qusnttee Of silver vii continue be RENTED BY each
ms 70 me East snd, coupled With other Influences, gill
tpo 70 nuse our ftsh supplies Of gold Europe and
70 prevent money from becoming cheap Bat We repsst
the erbune beh rates cannot much longer msutsn-
ed and redJ ction may be look cd for from week
week
mnrnets-
LocDoS NOsKr kAsKr DEc 1o-1 O'CLOCK p M-Ths
money msrket unsettled, The rates discount for good
ons vnyi ing rom 8 tot and 81 per cent according
tne demand 10 aciive or qdet there appesys lutte
hope Of the bsnk lowering the rate this veek
The pevs from fndas calculated N revive the demand
Tor SILVER AND thus excite the shipment OF goli the
COMMENT The next mail " india not, however ex.
y siec 70 take gu, more than shout saso,ooo.
emeh tume OF 90 continue TO he taken from the Bank
0 shipment 70 the Continent Yesterday fao 900 were
rarb out, and on Saturday $40 COO
tne zone ~ the Englsh ssook market 70 cay II avy,
pfces beinf \ per cent lover aud su incllnss
wards ConsOis are p5x spsE
IN, Appearance OF the make, for foreign titles
much TIE trne as for dsys and past hut rarx
so oonos are u T. The Ax per cents are sax aeSk,
mo The -Four per cents loa lo2x
HAtF rAsr Two O'CLOCK.
moro llltla ~ 10 10 In