The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-27
MONETARY AFFAIRS ON PARTS OF THE
CONTINENT.

Vienna Nov lO) Correspondence Of London Tmes.l
The news that the Bank of England has raised the
rate Of discount to ten per cent arrived here yester
day evening but it has produced less effect on the
Vienna money market than might have been ex.
pected. The Vienna fnanciers have at length
arrived at the conclusion that extreme measures are
absolutely necessary and they profess to be prepared
to learn that the banks of England and France have
resolved to suspend their cash payments and to pro-
hbt the expectation Of the precious metals until the
crisis is over in America. As has repeatedly been
observed in my correspondence the Austrians of
very tickle character and consequently they fire.
quenty condemn one day that which they eulo-
Iron letter from Berln.l
The conference Of the delegates OF the Customs
Union, which to have assembled here this
month to regulate the questions OF the banks on
common bases appears to have been adjourned. Ba-
yaria which at first theoretically supported the pro-
ject of this conference, has just made known that
she will not take any part in it. 1t Is positively
stated she fears that Austria would adopt measures
of repisal, which might seriously affect Bavarian in
terests.
Gahgnani of Paris, says:-We learn with salts
faction that whilst the liabilities of the American
banking house in Paris, Messrs. John Munroe Il Co,
which suspended its payments on the 18th of October
amount to four millions, the assets present six mil
lions; consequently II Is hoped that the creditors will
only suffer the delay necessary for the realization Of
funds from the United States.
From the Courier de Paris, Nov. 1871
We are assured, from our private information from
Berlin that in Prussia, although the bank has raised
its rate of discount to "a per cent, the financial stu
alton Of the country is satisfactory. No want oil
money IL felt either by the bank or by the trading
community. BY raising the rate Of discount, it was
merely hoped TO prevent money, which IL cheaper In
Prussia than In the neghboring States, from being
taken out Of the country.
THE NEW PAPAL BUDGET.
Rome Nov - Correspondence Of Galignani, OF Paris
The Pope yesterday received the members OF the
Financial Consulta, who are about TO resume their
labors. The budget presented by the Minister OF
\ r.. -
Finance is considered very satisfactory showing ior
sand scudi (he scudo IL 81. 35co Notwithstanding
this the Sovereign Pontin has encouraged the Con-
sulta to propose further reforms.
EFFECTS OF THE PANIC IN RUSSIA.
Berlin (Nov lo) Correspondence OF London mercantile
The present commercial and financial crisis APP
pears by the last advces from st. Petersburg not
yet TO have extended its paraysng influence to the
Russian capital. There have been AZ yet no an
nouncements of houses stopping payment or fac
tories knocking of hands still less OF bankruptcy and
panic. Discount was still per cent; exchange on
foreign countries falling, in consequence of the
excellent harvess in the west and OF the smaller de-
mand for bills brought about by the cessation OF ex
ports, which the approach OF winter has already
almost brought TO stand still The number OF YES
sells that have visited and left st. Petersburg this
year has also not been large during last year,
but il must be borne In mind that the unusual in
crease Of that year due TO the sudden reopening
of the Russian trade at the conclusion OF the war
The arrivals this year have up 10 the date Of the hast
advices amounted 10 2.252, and the departures TO
1916. In very few days the navigation was TO be
closed for the season. The Grand Russian Railroad
| Company has commenced issuing ia shares IN re-
turn for the preliminary scrip hitherto in the hands
Of its shareholders; it left optional to the latter
70 pay up the calls In full at once or not and IN con-
sequence AZ ,9Os shares have been paid up in fun,
| and 59ll in part. This circumstance has led to
some very sensible questions being asked as TO what
| the company can want with this amount Of capital
paid mp, and which bears interest, just at the mo
ment when all its works being suspended by the
return Of winter As yet satisfactory answer has
| been given. The Grand Steam Navigation and Com
mercial Company too, IL described as having pros
pered far ts operations have been extended at
| present It's receipts in August last amounted TO
loo 600 roubles, which considerably exceeded s re-
ceipts in any former month. According to the pre-
sent result OF It's transactions the company IL making
net profit Of q per cen, per annu and o,s a. ,he
high price the shares bear at present, IT must be
supposed either that the public entertain great ex
| pectations Of the future working of the com
pany that there Is plethora Of capital just now
| In Russia.
THE WINE MARKETS OF EUROPE.
All hopes of a reduction in the price Of wine this
year. says the Nontsur Vinico'e Of France, have
| been completely disappointed The few demands
made by consumers, the natural hesitation felt by
the trade and the consequent tagnation OF business,
have responded tolerably well to the determination
of wine growers not 10 sell, as they prefer holding
their stocks at present. The merchants who had the
| chance or the tact 10 take advantage of the easy
| prices az the commencement OF the vintage must
consider themselves very fortunate at this time.
What still more complexities the state Of affairs Is
that the wines Of 1856, which have become scarce,
| instead Of declining in price, az might have been
| expected, have kept firm although the new wines
have been preferred 10 them. fresh fall Of consi-
derabe extent has taken place In acobos and little
| or no business II doing N them.
Our Paris Correspondence.
PARIS, Nov. II, 1857.