The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-26

ID Al necuruea DuetaAuoo
copsidersbe fall spd that the Bank OF Bengal hSs 70
fused 10 make Sdvsroes tho Ormpapys papsr Tor .
lopge period than tbrts das confirms our view thai no
make, FOR ,hc pecunisry means whioa are nds enaue
10 ihe sushor,res as no present jancunre
me ssns sttnes.d N ne Stock Escaanoe doy aes naa
he CON pcemert or tieial oa,iness, hsDssctons
took place at an advsnse OF per cent over the
cftpa quotations or saturday. more 70 Toraole inter
prehon being put In mary quarters upon certain points
OF the Indian Intelligence including, moro ally,
Upon the or the alteration The bank panic set
In paes 70 amount being presiei Some OF
tese were on barking Ao,opn raDdered recessry by me
heavy demand for money ~nibt others we're by recuia
iorr Including esiims ed upwards OF half mlon
TO cloae ,he account cf operator or the tss .monE
tho sellers mas Leading "jocner, who oc "a onsliy
known 10 operste fer ard tire bsra Afer an
e1htme fall ofswo per cent ccpcl assumed more sesdi
ne's sossrds The olosc, owing partly to bona de invest
ntns snd partly purchases 10 o,ver previous speouls
live ,aes. Tee latest oinoisl quoRons, however, were
st Ia cent below tlo,e Of saturday and the market
feyora The London Chronicle. OCT 14l
The nouLcu Of Administration Of tho Bauk Of France
have ibis DAY rssed The rate Of discount on commercia
The Rea Jacket, from Australia, has arrived with
Go Of gcld value sbons E2e4 o52 and the California
ffon ydpey, With 10 OF small smcnnt or
silver reported b. have arrived In the river rsoo the
Continent bat large parcels also oone by way Of Diver
The llurc of the five assaov n,us referred to yes.or
6sy bas resulted In simar dsaaters TO day Ia London
Toe bills Of kessrs Ross. Mitchell d Co, large oaua
the sccepsspces Of Bessrs Francis and Austin also
rehsed win regard 70 t~o Of the Giasgo Trims n.me
con and Glasgow boir suspension ros matter or rur
Ice, ~ hey are snosn TO nave boon In difficulties for
tomo no past particularly tho later house, aud ihaga
70 have been o, 20 rory pressing nsture II the
sst TO induce them sct Of very ususuai
OCCURRENCE tnak Of drawing out their balance a; their
the lone Of the money ma ksi has been much tghtsr
day out f doors, and the Bank Of England bean sc
meneorsy pulled upon .x.iD which prey plsiny ind,
morrow, Or not later than Thursday the pressure
not only In connect on with the movements of hs PEE
which appear 10 be very the ,Ase, they
necessarily must be - the dcaly OF ootaaing disc
,nessa,.. r po, q ~ Sans @ n e k"ga % : 'ss a
upon lat Ae present moment Its reserve Of NOES unless
has sold sock largely = no douo. !. bss doso or WI
have do Dust have been ere,ty rc1uced This and last
week. and 70 morrow his day. the payment OF the div
derds comUcnces, snd must necessarily temporarily re
he ssosk ssi moe. Tho notes, hosever, thus
dr.-n out icky lind ,hsr ~sy back again in ordinary
aDes, and the reduouou tho sock Of bullion which &C
companies the payment, large shors II DO a. s times
III ikewise tell upon note circulation in both issue
banking Departments The question sraes will the
OF cent In the price Of moae In the shor;
four suffice tie drsiuf Ncfso persua
enpnot Supporters OF tho Bark Charter ACT
puE themselves upon ths power Of tho bank directors 10
iAci most unnecessarily high chsges for accommodation
when most Assst&noe, appeal To the
OF rssng OF the rste Of yesterday By Eer cent
pelfecs boon 10 the commercial clasSes Do the later
sser SOP Il u undoubtedly true that the drain
The bsrk mutt be s,orpcd; and according to The Bank
Act must and only be eerted by rsrg the rAte Of
c,scount What No wan what tho country war,s-is
system or dlaucsl eoontmy which snail preveut
tbsse inordinate dsplaccncs,s OF money si,hoat
ristng the cnsro fabrc oY commercial stability 10 not
the bank the chariey that complain bus
against yanopa principle Of the act tuat ayers
the whole frame sor OF mercantile o'ecis pros crsy
long bark chatter cBiAn 70 i present forn
ors WIN Inc commerce and lrade cf ths oouEty be sub
i.cec " ns dangerous influence II tbs present Advance
10 The rate OF Discount doos nov arrest the dran upon toe
bank the charge must be again pat mp until
does. In The meantime, what dangers thicken md
pt7 Mercantile confidence bocoaes Seakenei with
the difcoy Of obtaining accommodation. and houses
povve Instability in thomseves, but merely from
The mpossoiny o. obtaining ncoesssrv a'asrsnce Other
houses there OF weakness, tina!
eriab'y fail lser sbatever may 90 the value
OF money; but tncse are exceptional cases o,e of he
stroDeest Egusenta OF the supporters Of te Bana Aot
lsas support views Ia is the gene.
raj IN t0 rontino Cf ucny bs.nc-c Of
ears, by Tho subsuiion Of cheque, OF notes.
renders exenscn OF he note crculsor OF hs bank
unoccessAry noawhsa1 ding the in,feass Of cur radc
rhat On important economy mas seen effected IN ihis way
BY OF tho Arrangements OF Gle rlng
Honse, happily undepablc, bui docs not, therefore.
follow hsi auch Of mnr veneni does Away with
The uocessiy OF an expansion OF tie nanh ocaairg
oiu1 Ga the contrary, tcs,iocs ,he reverse sto~nx
tho expeoents 10 which traders comp lea 70 70
meet 90 Arb ,ra,y resticion on Ihe currency. Hat Tho
disclosed In the last bank resurs the pressure
for money vhich prevails, once evinces In the mast
direct nssuer The utterly vain and weak oaAraoter OF
any thai charge for oisooun,
ftem 81 to PER cent, and may have to up 70 par
ssns sssn ,s hh asner ws .,,. -'nsea Ss.
wben hey sro feu 10 be wanled mo knowledge
thai they oud meei any bona de drain tor leg Innate ou
p1rpose, oGld relieve the public mind aud
rohero Tho present dsmnd This shown TO be too
IN lsiT, when the memorable govcrnmcn, letter
0s; The iae Of discosn which on tho nss, of Ossooov
Of that year Was Gk eer cent and oa Tho 2b,h per oent
then quickly subsdsd rnd on tue 23d Of December stood
a par cebt Sooner later there mn,t be AltoYa
ton In our currency hv.; ngni In suppart OF them q
reope may, hey VIII nnally provo inadequate 70 TIE
qurerneris Of tho present day.
Ivrom The London II mes (Cziy Ayuok) oos Ia
The nacius..ons IN ,no funds aday TUESDAY l8
have agar neeu nosi rapid snd exiea,vo rho marke,
opensa With gre. ~sssns.s a yalL q a.rrly oss AVID
there itlsequ-niya o~sidc,obi, rcacio, aod
ncahful Nro occsme apparent oil dsparsm snss of bu
s7% to X, ven nrn qss..d sss. NO .slss, % sossysr,
wsre pfcntd At that prc~ and gradual recovery took
part OF 'be public ,ne range ~s then between
81 and sTa until noon, When ne goysu mont oroks
.ss q fo' s 90
standing an announcerxnt Of ae Bank q Panc. hagirv
saciions yer. ELECTED ss 81 !, * and IS 70 x for she
1oth OF November. Amor regular hours thors less
armnss.. and the quosa,ions vsre s7h y for moeey
the failure OF broker vbo involved In tne
which occurred about moaih or vo back In tho Liverpool
share mssket announced. India stork 2o1 40
Irois bonds sos 2os dnoouni In excncquer bills ,ran.
sseton occurred during the movning 23s dsocuni
when Inc cove nmeft brcker came psco
aAbe3 30 dsoount The purchase made So and
mc nnsl qoota Ion lea 10 b. dsconni, the marset
bcns skady, on The supposion that tho siskips fund
purchsses will ocn.inuc until tho whole Surplus OF
E71T17 In the hands NJ ihs commso reduc-
Of the national debs has been inves,ed 10 sock
Exchsuge tnore sordinayy pvrsurs money
loans frcm day 70 dap being ostpAoo III about siG pcr
cent.
In the foreign stock market the principal r,s,uro
bas consined OF exirafrdinsry nuctu stious 10
rrrhsn si1 Icr cep,'. .ni'h have ransed between
Sk and 81, the price ., Tho close sho~ing . recovery
Of absui enc per oeat upon the 'a,e heavy fall
The ccurso OF exchsr e al Nev York Londou, tor
bills at siriy days ssns qaoed with very vide rangc
vary ng from vs ~ par 10 1tek per cont, toe
being for nrss csss pager When compared Win the Mint
Jsr between tho two cc-nriss sr shOs s szcsdR,s oe
ooNsidooty docsna England and al pe hgh,, gu0satc~
would aosnu n gold b,no s>rf froa Fnooad wsaota loss,
puh pvoTgrtSnat pr,fs On ne incer rates
Tho quotation OF gold ai Paria IL per willie pro
MUM, sd The short exchsi 20 on L,ndon 20 Is per 81
scvpF On comparing thete rates win te Eng ih mint
price OF 81 It's loki per for aodsrd sold ap
eSs ,n-t gels nearly ioths per ccns desrer in Pars
than 10 LnBoor
by advces from Hamburg ise pric. Of r,la i7k p-r
rns ard tho thort xchsnge I,ndor ~ 1873 per ft