New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-11-04

o. The Fs..s Bour-e :sls evening VIZ 60. Ie'. i9r
BON money G,d sc:our. sscvi,s dsouLe Oh oliy
az eight.
Ths Eealhsr6e. has srivsd from XelSoE:ns win
10 647 oul,ss q gold, ysusi 8, ElS,5S.
Al III Eos, coo Of Aas.ralar { M VS. 500 % ~.
Bapk 10 sey. j. sid that atvut 40 UO s,'sreigo'
brought BY tie late arrivals have also been P''' ~
there.
TIE rate Of Discount &, Hamburg has advanced 10
Letters fiom Milan to-day announce the suspsnsio1
Of the respectable bapksg firm OF bslaoio q 10 VI
that CITY, 1t had besn in difficulties for some tune.
According to the circular d N. Ares Duio1i o.
Lyons, the advices from the Untea etntes nase
greatly aggray ated the depression IN me SILK IaIAe
owing to the belief that the consumption on 'es. sIo
must be ANAL Tor many months. Opinions are greatly
divided to the future Of prices some ere,u,
Anticipating further heavy fsD while others oFing
TO ii extent of that which has already taken place.
are disposed to rely upon reaction
Correspondence Of TIE Commercial Advertiser.
LosDos, OFT 20, 1857.
Everything was going on well here, aud the money
ms, ke was iegainng even az appearance OF Fancy
when the arrival, yesterday OF the boston steamer.
with NewYo.k sdvices to the 9th, descneng ian 10
the exchange to 100, caused a renewed s,if ~ tns
Bank of FL gland and another advance OF cent IN
the rate Of discount. -,
II now stands at y cent, beyond when II as
never been carried in modern recoilecnon' lle Only
period of such change was exactly ten years ps.k,
for, wssks namely from the 18th of October to the
22d Of November, and lite effect In aressog me oian
OF bullion and turning the tide was go powerful toat
in twelve months from that tine there wss reaction
TO 3 = cent.
The belief il that in the present instance the m.ne
date pressure will be equally short although IN the
face Of the Indian mutny and the Continental e1rava
gances it would be too much to expect that tae uit ha
rebound will be so great. Ii within the next year we
get back to or y cent there will be full reason TOR
satisfaction.
speedy change at New that even the last quota
ors of exchange would probably fail - induce large
shipments Of specie az direct speculation. But stu
considerable sum is likely to be dispatched, which
would have been much heavier but for the stringent
measures of the Bank.
II appears that Yesterdays mail brought large
number Of bills with orders for returns to be made In
gold The disposition Of the public to take advantage
without abatement and will also operate to increase
the outflow. withdrawal OF sovereigns from the
Bank in preparation for the present packet has there
fore been looked for, and it IS expected the CANADA,
on the 24th will take a further quantity.
Happily some large arrivals Of Australian gold have
taken place at this moment rather unexpectedly the
screw steamer Royal Charter having made the passage
from Melbourne in sixty.two days, WIN = o0' Voo.
This reached London yesterday, and tl3O,OOO were
taken to the Bank while the remainder went to satisfy
the Continental demand. During the three weeks pre-
cedDg the departure Of this vessel the from me
gold fields had shown an increase as compared win
the CORE spending weeks Of last year. The pre-
yious mouths had been ma ked by a comparative
decrease.
Although the weekly Bank returns continue to show
large falling Off in our bullion the stock s still
above the point to which it was reduced when the
rate of T. cent was resorted to ten years ago. The
lowest point then reached was Is 3l2,69l.
The return published on Saturday last showed
fIO,I O9, 943 There has since been diminution of
about $50 O0s but this he's been partly caused by
the payment Of the October dividends. We have
STILL therefore, an excess Of million sterling as CON-
pared with that period.
panic could be caused only by fear that really
sound securities may become altogether unmarketa.
ble ana that the credit Of undousted houses may avail
them nothing. Under the bank charter act no such
tabi-hmen is certain Of getting as much as it wants at
the fair market rate. The pressure may send that
rate up to TO- 20 80 = cent, but, whatever it may
be, every conner will be supplied.
The movement Of the Bank has been received with
wonderful equanimity, not only in London, but
throughout the country. The currency system estsb-
lished by Sir Robert Peel is now 80 well understood,
and its working is gradual but certain that the pos
sibility of panic Is almost out of the question.
OF course the losses sustained by the individual
firms connected with the houses that nave stopped In
America, must be very great; but hitherto they nave
been extraordinarily well met The business comnu-
pty in all parts of Great Britain being in sound state,
most of the principal establishments that have suffered
have had sufficient capital to fall back upon. up
the present time, not single house that could pre-
viousy have been sad 10 be in good credit has broken
down.
Large as the failures have been at Glasgow, they
have almost solely comprised firms that were noto-
rous for efficient capital ss compared with the extent
Of their engagements, and the majority OF them It is
believed, would never have acquired any position
but from the iDjudieous supper. Of powerful local
bark
1t must be repeated that entire during the
next month depends the news that may arrive from
your side. In reading the present adycss, teore
your will only have to glance back at the IL
dings which may have been carried to u.s. by the two
or three steamers which may lately hsve sailed, to
form good estimate Of our proceedings.
Upon the receipt Of intelligence OF q reoo9n1 az
New.York our y cant rate would be immediately
reduced Fer the moment, as far as the financial
world are concerned, the Indian snxieties are lost
sight Of.
Since the departure of the Persia the only failures
have been those of Whan, Mclean n Co., and AuldN
Buchanan both Ct Glasgow Inc INST De
flOO OOO The Glasgow advces also mention that the
manager of the Western Bank of Scotland has found
necessary to resign. London has been perfectly free
from disaster.
and the foliage of the country untouched by the slight
est breab of frost presents all the green uxIrsnce Of
june Heavy rains have brought the land into iine
condition. and very favorable time has been expert
enced for agricultural operations.
The discount houses and joint stock and private
ba, ks hold large supplies Of money, and have rather
unwilirgy raised their rate OF allowance Tor loans at
call TO Z cent.
The Arago brings out $o39, 900 in specie. 1t is
signed as follows:
T. Bebrend Co... II SO A. IseIin.'.''''.. 6@O
d DE- Rham,... zoe. $1,000 Harbeck Co......... $40
J. j. Merriam J es ''.' , a1
Wserstrin Kunst :. M,OOe schultz......... 1000
i. c. RO;siIe Co.." 2 ss oider'''.'''''''' 2lOo
% Llnsgis .......... I@l Total ."........s2S9s So
z. Hobssh Schepeisr 5000