The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-01-02

IN
time II became bound, and is now endssvOring 70 SUB
vert by force the Independence Of Herat which ives the
declared object Il the agreement in question
So Tar back December, 1856, the Persian govern
ment, by article In the Tcheran o6iSc Gazette,
nounced its intention Of despaschus iorce to Herat al
legns that the Aeer Lost Ashomed khan the ruler OF
Aigbanstsn, had been nsgated by bis "neghbcrs'' 10
possess bmsef Of Kandahar thst having with their
Instance succeeded In that enterprise no medated
vance upon Hera and that an armed deronstraon In
the direction OF Herat required Tor the alton
Tn assertion that the ruler Of Aaghaustaa was in Il,
gated by biz "neghbors" to occupy ksndsbar or that
he was assisted by them In possessing himself OF that
them to advance upon Herat, was. BY thoe "neigh.
bors the British government Is indicated wholly untrue
No such ost.aa.iou or Atanoe encouragement direct
or indirect, had been given by the British government
nor so A the British government ID Informed. had
there been wren the assertion wa made any oct on the
part OF the Ameer Dost Nahoned Khan evnCing design
10 advance upon Herat
Nevertheless the Persian government, has executed its
intention MOI only have Persian troops invaded the ter
rtory OF Hers although the contingency which alone
could justify such act has not pass but they
have laid siege to the city and have inerfered In Its in
ternal affairs, while the government Of Teheran has not
only assumed the right TO nominate the ruler OF Hera.
but ID addressing the present chief OF the city, has de-
cihrta Hora, 10 be Persian soil.
Tho siege OF HerAt has been carried or By the Per-
sian army for many months Heore It's comm ncement,
ia towards the British government have bsen ccarceiy
yelled and recently tho movement Of troops in dsr-
sis III On aggression which is - upprovoksd &c 1t 70 con
| trarary TO good faith.
pronounced by her Majesty's government to con
situte an act OF open hostility ssa'ns! Great
Ia: been SS tug Ss. w s.aSS;
from tho Deighborhood OF Hers. 70 Persian SOL
has been demanded, as preliminary to the adjustment
given rse; but the demand has been evaded, and no.
cordng 70 the most recen! accounts Persian army still
friendly remons.rance having failod and reasonable
requision having been rejected or put aside becomes
Incumbent on British government take measures
by which the Persian government shall be convinced
that solemn engagements contracted with Great Britain
may be violated with immunity, and by which eGeo
tua guarantees against continuous breach Of faith shall
be secured.
Bombay, and will embark ~ soon as the necessary
rangemen,s shall have been completed. The farther
operations OF the FORCE after It shall have reached the
progress of events and the policy Of the British govern
ment may demand.
By order Of the Right. Hon. the GoysrUes Genera OF
| Secretary 10 the Government Of India.
| The Money Market Ia France and London
the Bullion Movement More Steady.
! From the London News, Dec IL
Toe prospects o. the money market are decidedly
Frightening position Of the Bank Of England Is daily
nty, though active /, mercy that usually observed At
the clcse OF the year The impression IL gaining ground
Ssn Sa
be maintained much longer. Au inevitable result OF thls
change n PUBIC OPTION u An Increased cee.re on the
part OF capitalists small and great to employ their money
forthwith, lest they should oso tho chances or the
| ket. Thus long dated commercial paper which only
weeks ago could rot be discounted, urlese Toyy
onerous terms, now commands tn many Quarters rrc,e
bills of shorter date Tho evden. tendency Of
this state OF things is further decline IN the value OF
money So long Is ds.rus prevails, coupled with I'm
certainty TO how high the rates OF discount may rse
many people refuse lend ALL excep, undos
! such conditions Is ensure them tho power OF mmcd
s,ey Withdrawing their funds They calculate, hfowdly
enorsb, tina, tbcy VIII secure highly advantageous poa
m IN m AZ at rd
sn,s When the demands OF borrowers are urgent and
her Judgment . ,ssn sso make practice .nsn
Lcy hand OF turning into cash every OF
ou; .,oek and coD%srca security held By them Qua
tends TO sggravate the pressure co long lasts
but directly symptoms OF reaction become apparent the
DOWNWARD movemeR oil the rates s greatly Acceer Ated
by the esgerness to lend shown by parties IN this
petition This seems to be the prom uen feature Of the
psret ut tho present moment and shall be surprised
II does not quickly lead TO rs natural resua further
| decline n Il rates OF interest.
examination of the position OF the Bank Of England
Will fully ctnhrm the moro cheerful view now prevalent
Con pairing the latest return vth tas for the week end
ing the ist Of November when the ban terms were
per cent for co days, and per cent Tor 81 day bills
sersibc improvement. ID presented. Tho aggregate
deposns-ueasury ADD 'othcr''e. hblis an Incr,a'c
G6i s72 whist the total securities hea IN the ban ing
derarment-governmert and "other'-sbow the I'm por
tent eeonc OF tii6o,,o5. Ii - Q favorable sign tha
81 6eaial oil this latter sum Is in the .oher" securities,
tho total Of which reduced to l7, $50 us agansI
9ls,t63,+is on the Ut November. Inc falling
sicn We recall to mlud The advanced Pes iSs
OF the financial quarter and also the fact that tee Bauk
Shutting Of the ,rsnsfor toos Adding toishsr me two
suus aoove enumerated, VIZ, 15sl,s2 increase IN dc
pos., sud slice o6 eeersaio n securities, we have a
to,si OF t23G1l7 which rrfnd fais may be regarded
as indicating positive increase In The Banks me.ns. Re
ierrng to the reserve OF unemploJ cd notes NC od
addition nearly equal 10 sum- viz ~ 2o, US. tic
standing at the satisfactory lguyo OF 8 ISL
as0 against 90 ,6ej on the ult The increase 10
she com and bullion Is also important amounting %
| cssa.sTI II is sympiomstc Of Tho directors cont.
dente in The gradual subsdence OF the recent press
ssDis feature which has been witnessed fer maay
wecks, viz, an incrtuc OF GlSe,oo IN the covers.
msni securities. 1t Is natural TO in'er that this sucn
rrrEoscrts FovCrnnert stock pledged by the Bank in
the Stock Exchange s the commencement OF tue late
Monetary dcrnpgemeni and now Withdrawal Had tie
Bank Jeff lhir sock 10 the market would have been
compelled NJ the stock Exchange monthly settlement, OF
The sih Instant TO payssome or per cent per snnum
interest for the accomm ods,ion: and the directors
could employ higher rates the money raised upon
the stccb, is withdrawal from the market nat
cohiequenee Future returns VIII probably erhbli
te Ne the position Of the institution become stronger,
and is available means 10 several well inform
the bsnk Ia recently purcha 81 stock In the open
market We arc un~illps 10 impute blame unIe |,
connre ourselves for the prcscn, TO hintns thai
he public would view with deep disapprobaton
| any undue amperips with the stock market
Tie could not permitted TO use Is Information 70
cewe changes In the funds for IT'S own pront We're
system Of u. Kind 70 be connived at NO might 5000 Be
sub eoie tho scandal OF seeing tho bank buying eel
ing 10 the market 10 the loss OF css favored parties and
bsckmr UP lbs operations by alterations IN the rates OF
discount. We must refuse TO believe that the crcc ors
will attempt TO employ In 30 questionable furds
With would be much more isgitniaely devoted TO sup
plying the wants OF commerce.
w6lt the Bank Of England ba thu, materially strength.
enCd It's position tho bank OF France has also made pro.
Rrcss In the same satfacory direction. The Increase,
.hovn IN the last return, OF ~ 3ss 600 10 tho ana
| bullion, accompanied by decline OF nearly hall
million sterling IN the floating circulation, proves
| that the immediate difficulties g, the bullion
drain have been to considerable cxten, sur
mounted, and warrants the hope OF sounder
sfste tf the money MARKET Bu above all, confidence
mvst be inspired by the whole some rigor with which
Tic bank has dealt with the course. On the 18Th Of
Juno last the aggregate OF advances on Renes and rail
vay securities less than rs,o1oeoo. There has
since been q continual reduction aud the total
only s23bT1oo In thus adopting regardless Of the ap
pcarons OF the Boursc the advice rendered 10 II py all
impartial observers the Bank OF france has shown
noercndsnce of action than most parties had ooked for
The restrictive process has been carried 10