The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-21


alncudng exchequer, saving banks, commissioners OF
national debt, and dividend accounts.
The latter OF the preceding returns exhibits the follow
ing results, compared with the for tho week
ending Saturday, Oct. 81
Coin and bullion, decrease ESTE Ola
Notes issued, decrease. s3O04o
Public deposits increase. ACKNOWLEDGEMENTS. l020i
Other deposits increase 64bbs4
Government securities decrease ........... 1874 437
Other securities, increase 220 1854
Notes IN reserve, decrease. Il $50 525
Active circulation increase ......... 500 4SO
from the London Times (City Article) Nov. II
The funds have been fairly maintained today. They
opened with very unsettled appearance at decline Of
= per cent, but there was ultimately recovery and
although after regular hours reaction from the highest
price again took place. the market presented no appear
of general weakness Tho first quotation Of consos
for money SIX TO SIS, the days later from
New York by the Vanderbilt having created
feeling of Encouragement, but the public made
nsn naS 10 s sm %nss ,ns 70 s
more recovered TO ss's to $50; remaining at that
point up to the official close. Subsequently 1t be
reduction Of 81 $50 SOS in the notes unemployed
and Of OLA in the bullion and tendency to
heayiness again manifested, some transactions
being effected at sss to = for money, and ss y for
the 7th of December The sales Of stock by the
Bank have nearly equazed the rates in the Stock FIX.
change and discount market and = per cent offered
to-day for advances Consos from account
Bank stock left OF at 20 10 I'll and India stock 30 TO
2l3 The increased value Of money has considerably af
eced the market for the unfunded securities and India
bonds quoted sos 4os. discount while Exchequer
bills declined on sales to 25s 10 l5s, discount.
The applications for discount the Bank OF England to-
day numerous, but no difficulties transpred in
London.
chiefly Mexican, Spanish and Turkish, which show
recovery from the late depression The market generally
About Ella 600 In bar gold was withdrawn from the
bank to-day So ZOO sovereigns were also taken for
poratoh 10 idsoon, Micre .c nav pecn
voraby affected by the interruption TO business CAUSES
by the recent fever.
that deputaton Of Glasgow merchants and
mill about 10 proceed 70 LONDON 10 ask the GO
vernmt for OF financial relief II they
able define what thew wish to be adopted and should
appear with principles Of public honesty,
there doubt that II will full
The difficulty 10 conjecture the probable nature OF the
demand Ii cannot be for reduction in the rate of dis
count since while the rate Is or els per cent In Ham
burg IL per cent IN Vienna and 30 per cent IN New York
no ore would suggest that the Bank OF England
should lend at a lower rate than y, unless they
wished 10 every ounce Of gold drained from the
country and a national bankruptcy the consequence.
Neither they contemplate requesting that the bank
should discount literally. Not single sound bill
has yet been rejected by the bank Is there any pro-
babily that such Will be the such application
would therefore simply be request In another form that
they should be compelled to discount unsound bills.
Neither be for any enlargement Of the circulation
by means Of al issue vi one pound notes or any similar
device the plea that the existing amount not sui
ncent for the commercial wants OF the country Trade
has undergone contraction IN all directions there
been fall In prices yet the aggregate Of notes
shown by the Gdr return Of this evening TO be in tho
hfnds OF The public nearly million IN excess 81 mo
total in use In June. 1856 when the Of discount
only four and half, and the increasing magnitude
Il transactions was daily subject OF surprise.
lts 4
sumed the deputaton VIII simply solicit the government
" promise that the bank shall not BE- allowed any sud
den occasion " destroy the commercial community by
fusing a, any price IF this should be the
there not and never has been the remotest dan
ger Of such event. the Chancellor o the Exchequer
have difficulty In giving the required assurance. What
ever may he the views Of The dcputaton Is above all
things essential they should be prepared ~ state them
specifically This l. 4 duty they to their fellow
traders. The present Is not time for any body Of men
moons derately 10 create alarm by clam0r for IN
possible aid and thus by complicang the EXISTING DIS
rc parayxe those who can be saved only by the
&c mutual confidence and self possession. We have
been exposed 10 difficulties sudden and extensive
than any nation ever before called 10 sus-
tain and the way which they have been met must be
marvel 10 the whole world There must have been a
for th result and will be found IN our currency
system therefore behovcs all 10 beware how, by
deavorng 20 weaken the public faith in the working of
that system, they may change our calm and dignihed
into one of imbccle confusion
The market Tor silver IL fat and that the dis
position 70 send gold Tor purchases on the Continent has
greatly subsded.
The railway market has auctuated with the funds and
closed with little alteration. general reduction
red IN French but only 10 slight extent; Southern Of
can securities Illinois Central again led the shares
being quoted IL discount fall Of los took place in
Canada government bonds
Prom the London News (Cty Articie), Nov IL
The discount market Is very unsettled. In quar-
ters The rates considerably above those OF the Bank
and the caution q dsoo1ners increasing AT the Bank
itself there to-day undated demand for money,
feature Of considerable importance considering the
unprecedented advance in the rate aud the smaness
OF the reserve
Amongst The more favorable features affecting tho
ney market must be classed decided Improvement in
the continental exchanges II also thought that the eX
raordinary state of monetary affairs may tend 70 check
the disposition 10 remit silver 20 India.
The severity Of the pressure Is beginning 10 excite
movement on the part of the mercantile community Al
Glasgow yesterday most Influential meeting Of merchants
aud mitvners held, and depraiion ~ six gentle
men including the lord Provost the Dean Of Guild, Mr.
Buchanan NJ = and some others 81 the nrst in the
city ww appointed to proceed 20 LONDON and wait upon
government The deputaton, we believe arrived IN Ion
don this evening The object Of their mission + 70 state
h. government tha, credit In Glasgow s parayzed and
that the mass % ortpeope thrown out n employment
who already number several thousands VIII be vastly IN
creased unless some measures " commercial relief can he
devised They will therefore II un lerltood, urge upon
government the advisabty Of suspendng some Of the
provisions ~ The Bank Charter art ne done IN 1917
Movements With similar object may be shortly looked
for u other distrcta
Paris advices aege that the bullion IN the Bank or
France which lately fell to 81 600 900 Is little below
eEhi millions sterling IN the last return was stated at
ts0Z2 600 The next return will be published next Fri
day morning u IA stated that the railway companies.
which are IN want Of funds will be assisted by the Bank
q france, and viii be prevented from placing bonds
on the market
AZ par. the Bourse retains remarkable soadIness The
Three per Cent Rentes closed today al SO 20 for money
and O. for the end q November showing a decline since
YESTERDAYS Of scarcely per cent IN the price for Jucv.
Most ~ the other continental stock markets are natcf
but the reduction IN prices vet moderate Al Vienna
yesterday, the Austrian funds fell < 10 ! por cont
Prom tho London Chraicle CC,y Artk - Nots n
Tho bank directors have committed one u eyuIl NJ
they have commenced shutting out from acoom1 ation
many good bills upon the principle that thcs sup.
ply any ones want aud Will therefore y t4tc their