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

discount. We muc refusc TO believe that the clrcc
With would be much isgiimately devoted TO sup.
plying the wants o, commerce..
Whit the Bank Of England ha thus materially strength
enCd It's position tho Bank OF France has also made pro-
gros In tho same sa,saciory direction The Increase,
shown N the last return, OF li3ss 600 10 tho coin ana
million Merins IN the floating circulation, proves
that the immediate difficulties q the bullion
drain have been TO a considerable extent sur
mounted, and warrants the hope OF n sounder
sfate tr the money market. su. above ALL confidence
mvst be inspired by the whole some rigor with which
tic bank mas dealt with the course. ON the 18Th OF
juno the aggregate OF advances Renies and rail
vay securities Was no less than Gs95o,soo. There has
since been continual reduction aud the total y now
only G23b7 leo In thus adopting regardless OF the ap.
pca,ions Of the Boursc the ADVICE rendered 10 py all
impartial observers the Bank OF france has shown
noercndsnce OF action than most parties had looked for
The restrictive process has been carried 10
produce the expected favorable results. aud the time
seem, 10 have arrived when some relaxation may DO
looked for. In far the Bourso n concerned the
directors will do well 10 keep the reins tight but
French trade SECURES assistance, and moW persons
would rejoice measures IN ths scrse 10 be mme.
dstey adopted The Bank OF France seems 10 be wait
ing for the ank Of England to 1rst and indeed We
see no valid reason why the extraordinarily high rate Of
o per cent shouf be longer maintained here. In this
wcarhy country the best supplied with capital IN the
world and even six per cent an unna,ursy high
value for rneney 70 bear and experience proves that
very excepe nal state Of things Il requrei TO maintain
such extreme torms The more 70 assn ring aspect OF
monetary Affairs France despite the violent fluctuations
ofhe Bourse which arise rather from the mcnster oper
atoms Of individual spcculsiors than from any legitimate
action the more favorable movement Of the Chinese
changes which has somewhat checked tho oW Of silver
TO that quarters and the recent fall In the prce Of silver
london, form satisfactory features. doubtless large
quantities OF silver will continue 10 be RENTED by each
mail 10 the East and coupled with other Influences, viii
tend TO dnuse our rtsh supplies gold over Europe and
70 prevent money from becoming cheap But repeat,
the existing high rates cannot he much longer maintain
Cd and reduction may now DO looked for from week 70
week.
Markets.
LONDON soSEy M,RSrr, DIc. 16-1 oCIoCE 7. M.-1he
money msrhos unsettled tho rates OF dis cunt for good
bilh varying IRON 10 and per cent according as
the demand 10 active quiet There appears ktte
bore ri the bank lowering tho ratio this week.
Inc news from nda calculated 10 revive the demand
Tor silver and thus cxcte the shipment OF gold 10 the
ointment The ntN mail 10 indis " not, however, ex-
ptciec 70 take out more than about rs5O,Co0.
small sums Of god continue TO be taken from the Rank
for shipment 70 The Continent, Yesterday G2e, 900 were
drawn out, snd on saturday 100000.
The tone Of the English sitck market 10 day II heavy
prices being per cen ower, and stll lnclnBg down
wards ConsCls arc eSs sp3x
Che spI OF tue market for the foreign titles
much ne sane as ior dnys ard wteks past but lark
nh hcude sre Il. The SIX Per cents are qi'f g62
pnd the tour yer ceris 70 alt2ii
HU-a,sr Tv1 o'CtvX.
There little Or no caat a. to sc,ce "a anything The