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

heavy = yesterday and on saturday rns rata, OF dis
oosn, csrreni In .hs opss make, are generally above
advances n ns periods rsse circumstances com Sine
keep anvs the fear that the bank director. M, al
mAxly decide upon . fresh rise In the rata OF dis
count Upon Inc Whole ho~evsr hs app,ehenaon Of
o'day, On impression having gained groano In many
quarters that the bank vii pause until the weekly
court on Thursday. To morrow the dividends viii
bs payable, but, have before pointed out. lis.o
ronef anticipated from this source owing the magn
esde OF me repay due 81 the bank, With
70 morrow Apart from the severity Of tho pref
sure for money, the banks sdlic stock aus Aaue een
gedly reduced daring the las ten days, for, addition
patch 70 New York and Withdrawals Of p
Try bankers, the Oalt yesterday los 900
opsce for The Cape Of Good aope, and the AusuAAsan
tSo $50 Tor Alexandria Payment must alao be made for
the large quantities Of silver In course OF collection
on the Continent. On The other hand, . most
decided rise In the continental exchanges, conse
quent upon advance In value or money Thore
no Withdrawals OF bar Id FROM The snk TO day.
and owing % the more advantageous medium Of remit
now presented by bills coupled with the arrigh OF
he dsn OF reid from The bank /, hs Counen, IT, for the
present II least stayed Coupling with feature the
acs thai the extraordinarily high rA.ss nov allowed for
deposits attracted liberal pply Of money for
employment In she open Market think that general
aspect Of may be ooniidsred more sasa tory than
easares OF The momeai is that. snousn sucS nsn rssss
OF interest prevail there no foolish indispOsron 10
lend
announced this morning by telegr.p n taA, the
Bank Of France have rAiset the rate Of discount 5k
70 6k per oent rement In tn dirss,!on inev
table, and the ann 'uncenent, Therefore, excaed
prise hora
The funds opened tails morning with ncres,ed neavi
mesa. and q one period prices showed reduction 0, fully
per cent compared witt four oc quotations
yesterday AT this point numerous influential pure
came forward parties Who had effected speculative ssles
investments were effected and the Aspec. the mar
ket experienced . decided change for the better
At the hour esserdsy Some support given 10
the arset by the OF the government
~ buyer Of eschequer blls account Of the shaking
kund, for aThorgn hs purchass was limited TO flo COO
Detected at So dbcoun tnoag that further oper
lions In drecon may be IN After four
ocloas (at which The recognized business
may be said TO termlnase, the funds gave ~sy again.
0ae OF the features that chiefly tends TO disco lrage
.so for the rte !. the suppl OF STOCK 10
ply viii hereafter be further increased by govern
loan
The distur ,ance Visible 10 the position OF AIRY af
fairs has diminished, and It 10 still thought t1ai the
An unsettled feeling prevailed Ia circles through
out the day, the ncrsase the OF disc By the
Bank OF France 10 OK per cel and the intmation or
commercial embarras menn In London ana the pro.
virces having . variety OF unfav orAb,c runors
There seems row but little doubt bat thai ia-gs remit
tanoes OF specie vii taae place Americs and 10 nA
already been .'seted about CISCO 900 for Nee
Fork, the ,spxlason i thai 3. drain ,rA augment
cousrans and extensive, and oonsols were . one
period OF the Gay 40 lov s6 the sales o The specuA
tors having forced th,m 70 tta Deprecated pnt The
inelg from C,cum. pres ned 10 tbs OF
the EM. India Company produced little rf1enos, ana at
ooun from Americs, expected by tpmorros q packet
Although The bank authorities snoud the adyioes
lAyed may 10 the Deanwhile be compelled 70 advance the
here vii be less tear OF continuance OF the
gency n they IRE favorable The panic symptoms
whcn have been apparent ana which have Ell
BY ope stock Etcsaugs are sure not 70 ex
In
press The public III the roon that general crisis IL Mt
hand II Is disccmagn9 enough % knop ha The period Of
pas liz ~ be PRODUCTIVE Of serious .gec, without
tempsbg 70 promote ssmore views, watch only serve
loan DISTRACTED for the assistance o, the
Fart India Company, the bank dire oYs-so alleS d.
r,t be'rs situation 70 Afford tnsm muca farther In
direct AID created increased disrus and suiced aug
nent The ssmAnd for nsney. The Preparations for the
arrangement OF the consul account, and tie
points vhicn amac.sd SEINE oonsi ieraaoi, and the
ore suspenslun announced In the course q tue day
Ssrr err.mey nesy, he drrsnos. 20 be ouaa,c
represent pg more than ordinary rne range
aucsus,on has been rather more than per cent ou.
recovery took place, leaving 81 The official close little
ralon from yesterday. Another change, Appears then
came over The quotancns which again desoended sary
'clssrs phea carly the day, only sshty sso.ea tss
mi. ket, but the i'm eni -n lot long asntaned
Glneov, officially snnocn ed today and the lsblH-
lies vArousy estimated from feco 900 600 600
They stated 70 have been the largest nrm engaged
he embroidery and sewed muslin trade, and besides pos
sessinx branch In Scotland had Manchester and
q Ireland Their With Canada, AutYica and
Australia have involved them In difcukiss and ain ,ugn
The estate believed, will exhibit favorable asseu, the
estimate CT 2os In the pound formed IN quarters
no, nsey 70 be realized The srsptrsou OF Messrs Non
With resuU, the ntbiles being extensl re- aud
the ssseis 90 npsrsnvsy nmitea In ootn 10 anti
me old system OF aoco mediation paper nu Il is a.ser
ed been extensively resortsd W TIE Ws'esn Bank OF
Scotland vii hsV entire control OF The In resgsaon OF
the Glasgoy eta but IA considered shAt tue London
arm OF hessrs Macdonald % viii be submised the
prcco Of iIspcoaon 10 no. eventually Transferred
rankrupiy,
Iron the London Nowp, OCT 1871
commercial oiisis has fallen upon wha, sudden
ssgAvstcd BY the monetary pressure existing In every
part o. the Continent, DJ the extensive disasters 70 Aner
operations consequent TIC Iodian outbreak We have
lAery taken every oocan 70 pon, on, the ipevi Die
tendency or the various In ration % for
period . srinxency in the money nArHet
and have incnlcateo . caution which Of the ut
nos consequence Notwithstanding tho general sound.
pcss of commerce Il 10 our duly nos 70 show that,
although Unforeseen circumstances have increas-
cd nc anticipated pressure In most alarming
MAJ ner, and have brorght abogt Gala niues
more extensive than could have calculated on or
rusEded against the greatest peril OF the presett
from the Danger Of The public Misunderstanding the
true penr OF the recen, ahen by me sank ),
England ssd by ,ner yiodipg 70 psnc fear and forget
ing The hsiory Of pAs, seasons Of c,muerca pressure
The failures In Amer.a, W deprvtng isose houses
vhob have large dealings 9Th that ooun,yy CT er
ptcsed remitAnoes md f1rc'ng upon them the necessity
Of nevtriheess proviaing for tnsir ohsr enSag
have created great and sudden demand ineir p0u
.pon the dlsIossbe capital Of me country. This demand
has Arscn, morto 81 season OF The rear
amount Of unemployed capital IL usually u
minimum, vhcr the public ceposs 10 ihs Bssk OF
England are al ineir largest, and jest before TIE
pay OF The Ociober dvdcncs has again pat some sir
mope Of money irtn circulation thropgn ordinary
chAnne The OF Bank q England are nor anI
locally ooktd FOR, and 10 from these properly
underwood, .hai the puohi should derive the
which, more man snythinG else sin no. only mitigate
The existing pressure but viii pa0 away with
the r. e.ess rapidly ana with minimum amount Of In
fury. Ten years ago when al the same psriod or the
yesr o similar crisis occurred which the verY con,.
cenoe OF dses vii force upon peoples minds tending 70
lead them 10 overrals the present dangerwe stood Ia
very different position. We have no longer dread
did then, the eux CT bullion, for nce that period
variousy estimated from IL 70 20 cns OF gold
p ge-msr entity into circulation In tue country and rormi
lvt resource hioh not available In 1877, II 10
worth while oor back 4, that period, 70 the
bank returns OF mai dsn With those just ssued and 70
bow rspcy the s,se Of tue bank aocouns vhob ed 70
fanie havitt such fearful results, recned Itself ~