The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-08

ton has been active but the banks and discount houses
have met with less reluctance, and although the rate
charged cannot be quoted below the minimum OF tue
Bank of England long bills OF first class character
have been discounted at and at 10 per cent per
annum. The slightest symptom of improvement
is, however just liable 10 be unduy appreciated ana
might lead TO an impression that the difficulty has been
fully overcome In the best informed quarters however
there is still much msgving with respect to the future as
absolutely certain that the high value of money
exercising most destructive influence upon property ana
industry throughout the Kingdom II is therefore ne
cessary greatest caution should be exercised by the
mercantile community at all events until little more de-
finite idea be formed with respect to tho future cur
the money market present apparent turn out to DO
or temporary duration only and resh shock DO gwen
to credit by tho discovery that such Is the case Aten
Interest," for Is palpabe that until money receaes At
least per cent from It's present price neither the prices
OF produce nor Of manufactures will rise 70 remuners
THE BANK OF ENGLAND RETURNS.
From the London Economist, Nov q.
reference the bank returns will show that under
the letter issued by the Chancellor of the Exchequer to
The Bank Of England the issues upon securities .u,
tory limit Of ETA 900 by $4,000 900. With
this issue the bank had reserve in the head estah
shment, and all the branches Of 81 while me
deposits public private had to f19 046 the
private deposits alone being els 959 Jos, showing an in
Of 81 s2 upon those Of last week In the bull
lion there decrease OF 1856 42 of government secur
of E3 037 000 and Of private securities an
of Ga 1874 00o These changes probably more
remarkable than any which ever before occurred any
securities to the issue department. as arising
from well known cause, the most remarkable features
the large increase the advances 70 the public the
decrease the government securities and the increase OF
private deposits.
A first sight appears singular that at such time there
should be OF deposits But will be observed
that this has been about 81 900 900 in the week.
making the last fortnight about e. 900 900 No better
proof could be furnished of the extreme prudence and
upon which bankers and others have been acting
strengthening their On the other hand the
public have certainly been Inconvenience by these
private boards for what the bankers have deposited the
Bank England has freely advanced In the single week
discounts and loans Of the bank upon private secur
ties have been increased by "a at rate of 10 per
a minimum. The bank has also, in order to aid
the demands for trade largely disposed OF government
securities will be observed that the decrease under
this head close upon f3 900 0OOof which, however,
81 900 has been transferred to the Issue Depart
ment leaving 81 900 900 having been sold. There
has rarely been a week in which so much stock has
disposed Of and yet the price has scarcely been
afccted-which shows to how great extent the public
are investing the funds II will be observed that the
notes in the hands of the public have increased by
81 900 caused in the main by their being taken into
the country order strengthen the of
try banks.
But the changes in the bank returns during the last
weeks have been remarkable that they are well
worth careful comparison and consideration.
The following table will show the changes in the various
most important Items
FROM RETURNS.