The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-01-11

|Uosi~9 Prices.
THE CRISIS ON THE CONTINENT.
AFFAIRS IN FRANCK.

THE CRISIS ON THE CONTINENT.
AFFAIRS IN FRANCE.
Paris dec 24) Correspondence OF London Post
The report which had been circulated yesterday OF the
Bank England having reduced the Of
per cent premature aud prices rather receded The
bullion Of the Bank Of France amounted this morning to
from Off 95c. to 81. s5c. Mobier, 1901 to S00f Aus
risn 7i5f to 72of Orleans SAT- soc to1 $500 Lyons
s5Of to s55f Southern, 54 SOC. to SAT- Soc and Nor
thern, el5f to e5of The market remained rather heavy
| TO the close.
Paris dec 23) Correspondence of London Chroncle
Notwithstanding the great demand for money, and the
possibility of employing il to great advantage by lending
Tor short terms there has been crisis among those
who have built upon such large scale within the last
three or four years
1t had been anticipated that the rise in the discount
market would have been the OF great distress
among those who had largely speculated in Streets
and in new houses. Such has not been the There
has been grea, outlay but has been done safely and
tie city OF Paris has been among the projectors That
there will, however, be dimnuon in house rent and
utuaicy in the value OF house property most proba
bile yet does feasible plan presen. itself than
there found persons wiling TO embark in it, There
individuals anxious to form company for the pur-
by the late Princess Bagraton for the purpose OF forming
street TO the Champs Eysees. The situation certainly
admirable, and the whole is perfectly Practicable
MUNRO AND CO., OF PARIS
Paris (Dec 24) Correspondence OF London Chronicle
The American bankers, Munro * Co have resumed
payment under circumstances honorable themselves
welcome to Their constituents. They have returned all
the deposits they had received and the Bank OF France
being informed OF their position, has, with the hberaty
the monetary consented 10 receive their accept
aud to place them precisely the footing Of
credit they enjoyed before uey compelled by the
failure their the United states
up their affairs. They will recommence them with the
condolences and the kind feeling Of all those who hold int
gritty and energy In respect
THE ,MgCEG cEIsl>--IMPRovEAENT IN THE MONEY
MARKET AND TRADE.
Hamburg Dec s3 Core nonGcnre OF the London Post
The aspect Of monetary affairs here daily brighiens
ana thur proved that TIE last angements ide by
the senate aud Pgcsscs have fully realized the expecta
I tiDps bteih had fo-rn,g III thpm DAYS
indeed siderable uncqsness felt TO the position
house. which toH long held chief place the TX.
difficulties which had presented themselves have been
successfully overcome sud the knowledge Of this fact has
cobrbuied 90, little 90 restore the confidence which the
suspCr son Vi MeS~. Schultz schemann house large
| y .nsagod In the metal trace had for time again
house, wbo-e Bithh liabilities very heavy, every
| re ssOnsble aid was rcsdy TO be rendered until IL
found that their Affairs tad not been regularly conduct
ed as In concern Of sch magnitude absolutely
cary when the assistance which would have been other
afforded was, under such circumstances pro
perly withheld From what has TRANSFERRED however.
appears that the supposed ~ be nearly
aiOg eher adequate 10 the eventual in full OF all
their debts, that temporary Inconvenience will in
this nsaanoe be the chief damage which the credors
will sustain but even that, In times OF pressure Is
no small evil. In this case considerable blame
Justly attaches 10 the LONDON houses, who have
been IN the habit OF granting very great accommo
da,ion in the shape Of uncovered creihs; for,
this ready resource for raising money had not been
afforded, the affairs OF the mouse would have re-
qured 10 have been more carefully attended TO, and
Il therefore, than probable thai
which has now oyertaSen them, and from which many
others may also suffer- might but for this indulgence
have been altogether either avcred or avoided. only
right that these remarks should now be made for having
than occasion animadvsrteJ the conduct
Of those holses here who have followed similar inudi
cous system with their Swedish, auish, and other
respondents II H. than reasonable adopt the
when Il H. that Ia other instances the
consequenoe are alike injurious and that London houses
have coumi, fault their dealings with their
Hamburg correspondents those OF Hamburg had with
theirs elsewhere II IS however, 10 be hoped that all
fntn NJ
again, and tina, the lesson which many have now re-
ctved will DO. be without, Us sau.ary influence both
| London and Ia Hamburg
But Is much more gratifying 10 refer 10 the evidences
Of the Improvement which hs already taken place. than
mued There i in general no better proof Of amendment
In this respect than that which offered by the
rate Of d count and on this point nothing could be
satisfactory than what can nos be stated First class
bills have already been discounted ri four per and
s matter OF regret among Of the capitalists that the
amount OF that dcscr on OF paper now 10 be had
very greatly crcumscrbed The rate Of discount TO which
the government commission II restricted SSH 10 per
cent ana the natural Consequence that the applications
20 them are by numerous. and while the two
extremes have thus been quoted, the general rate
ranges between them according to the character Of
the bills that may be offered Apother criterion
of Improvement, where there consos 70 act
a monetary barometer may be found in The prices Of
the stock OF the JOINT stock banks established here
about year ago The vercns Bank which had fallen 10
90. now commands 90. and the Nord ncut-che Bank,
while both there still appears tendency to
\ further Improvement.
There IS one class Of persons who will this season de
rive advantage from the favorable state OF affairs
which Tow fortunately prevails and that s the shop
keepers. In country the practice Of the Interchange
Of Rfs and presents Christmas universally OBJ
served and those who deal In such commodities had
usual given their customary orders 10 France, England
and other countries for The regular supply Of their trade
before the events took place which likely 10 d.
minish the demand for their wares, and for time
many were fun Of dismal f,rebodings with regard
20 their holiday transa:tons for this year.
Vow however matters alreaiy begin 10 assume better
appearance; ami although many a rigid economy
will be now more than ever necessary, not altogether
imperative In not easy matter 10 overcome establish
cd customs and already every thoronghfarc rs like a
recognized among the pecuiarcsof Germany and the
demand for their fruit seems 30 be very little ess AMI
mated than has been IN years wis have been regard
cd much prosperous than his has stery proved
20 have been II had not been 20, the distress would
have become general IN another sphere which had hnher
10 far escaped and the LONDON and Paris
which have furnished the supplies would readily
have obtained payment fg them ss they likely
the change which has so fortunately occurred
s, indeed truly sondcrfu 10 see how after pass
ing through great Of suffering that recanty
witnessed, everything resumes ne ordinary aspect Ia
every country there IL point In lis history which
constant reference made and which has general bear
ing every question that In Hamburg that era
has atefy been the great FIRE OF 1st2 OF which those
who were then resident here cannot yet speak wthou
excitement, and although that Instance the calamity
scarcely exceeded The present IN the extent of loss
tanned, the traces Gifts rayages merely visible
These however were quickly removed, and the city
from ~ greatly improved both In appearance sndn
convenience. 70 may be found that it, c,mmerce will
also derive advantage from the severe ordeal IN which
nov been tried and the hope may therefore be enter
tanned that other subjects Ia which England and Ham
burg have mutual but less painful interest may speed
" obtain place CORES pondence from hence which
are ,ord Of The late struggle has Tor some time past
] exclusively occupied
/ THE CURRENCY QUESTION OF BELGIUM.
brussels (Dec "a Correspondence of London Post
The sitting Of the Belgian Chamoer Of representatives,
the day before yesterday but brief one. Two
/ ports were presented-One on the budget ~ ways and
means, and the other on the ball opening temporary
dts 10 several OF the Ministerial departments The
fixed for consideration the day, aud
the former being brought forward short discussion