Newspaper of The New York Herald, October 27, 1855, Page 2

Newspaper of The New York Herald dated October 27, 1855 Page 2
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TriE AFrUC IMPORTANT FINANCIAL NEWS. THE NEW RUSSIAN LOAN. Itdlog of the GtvcriMrit and iHrectwn tf tfce Bank of England. Spin I on n of Bankers and Others. THE VINTAGE IN ITALY. Cur London and Madrid Correspondence, Ac., Ac., Ac. Ike Africa's mails were delivered in this city last eve aing. We have compiled from our European Hies acire .**1 summary of the latest financial movements in Lon don, 1 aris and Vienna, from which it will be seen that the merry panic in England had not completely subsi ded on 13th instant. General Simpson's despatch, dated on 20th ultimo, contains the details of the latest movements of the contending parties in the Crimea. Oni Madrid correspondent gives some interesting facts ?Mpeetlng the present state of affairs in Spain. Wo publish late news from South America, which will be hnind important, both in a commercial and political point of view. Geneaal Flores had assembled eighteen hundred troops outside the city of Montevideo, with a view of checking the revolutionary party, with whom he suspected that the Brazilian Minister was leagued for the purpose of injuring him. A Rio Janeiro letter of Sep tember 13 says:? An enormous business has been done in coffee since the last packet. From the Mth of August to pre?ent date we note sales to the extent of 313.000 bags, of 6 arrobe*, or a total of 45,080,000 lbs. Of this enormous quantity about 170,000 bags aro for shipment to America, leaving a balance of 143.000 for European markets.' Jj? Nord, (the Russian organ in Belgium), of October 9, says:?The Anglo-French journals wlil probably an nounce to-morrow the bombardment of Odessa. It is thought that there arc at that place immense stores of wheat, and us the supply of grain in I'nglund ami France to deficient, it is no doubt con-tdorcd quite rational to burn what Russia possesses. It is probable that we may behold in tt e Black Sea a new bombardment of Swaaborg. Even if it should have worse financial consequences for Bnst-ia, we may ask ourselves whether such an expedition Will exhaust the empire as the English journals assert, and whether the evil which the allied tlocts can inflict ou Russia will not be a terrible blow to the commercial in terests of all countries which ara interested In Odessa. The reply will be, 41 This Is war: we will burn everything on the coasts that is not surrendered." Alas ! all will be burnt, perhaps, but certainly it will not be surrendered." Our London Correspondence. Londo.v, Oct. 12, 1855. Newx of the Week. there is really so little stirring that Ihis is but the apology for a news letter. The details of the cavalry en gagement near Kupatoria have not yet reached us. We beam, on the other hand, that Gen. Mnuravieff has had a successful engagement with Turkish cavalry, near Kurs, capturing the brave old Ali-Pacha and four guns. The allies are busy destroying such portions of Sebas bopol as they do not wish to retain, and the inter change of shots takes place daily between the town and the north batteries. The government telegraph is silent. We learn, how ever, that the allied squadrons have anchored before Odessa, and the next news expected is the bombardment of that city. Up to the evening of the Mb of October no bombardment had taken place. The next item of news is the happy situation of the Em press Eugenie. It is thus officially announced in the Mtniteur:?" She has entered the fifth month. The prayers of Fiance aro request'd for the auguBt lady." Louden is awfully dull. A few porsons arc dropping into town, but slowly. Charles Mathews has made his ve-apiiearaucc on the stage at Drury lane. Oar Spanish Correspondence. Madrid, Oct. 6, 1856. The Rain anil th<? Deputies?Debates in the Cortes?The Queen's Abortion?Attempted Flight ami Abdication? Eegortcro Attempts to Resign and is Prevented?The King Consort? Return qf the Court and Cabinet Changes?The Alliance of Spain. England and France?Attitude qf the Cortes and the Covnlny?lands qf the Clergy?The Bud get for 1856?-Americans in Madriil?Misfortune to the. Wife if Mr. rerry, late Secretary of Legation?lleS. A Remains iiilh his fUmily?Movements of Mr. Deulge, f New Mi nister. The immense quantity of rain which has fallen has broken up the roads, ho that tho Deputies were not ublo to arrive in time for the first session of the Cortes, on the 1st inst. Only eighty members were present, but the others have been dropping in till the beuches are again ?early full. The debates bid fair to be lively and In teresting. Several members ure understood to bo re ached to make bitter attacks upon the government? especially upon tlie supposed alliance contracted with France and England for the Eastern war?upon the noisy palace question, and gencrully upon the unonorgctlc and timorous march of the Cabinet, which is the reason why the conntry is discontented and unquiet. Besides the abortion or promaturc delivery of the Onsen, in consequence of the fury our beloved sovercigu got into about the palace question, and which I told you ?f last week, it appears now that there were also some attempts at llight and even at abdication. There Is no doubt all this hubbub has been produced by tho counsels of some enemies of the present order of things, and a good mauy are either now in prison or in banishment. The Queen's private secretary still remains in close con finement, without permission to see or be sen by any body. Espartero, the Duke of Victory, has been making great efforts to resign and retiro from the dliectt u of ?flairs, but bis friends will not let him do it, and i e is incapable of doing anything himself. The King Consort who is in a state of chronic rugc ' e eanse of the course of nlfairs, and more especially because they have taken away from him and banished from ihe Court his most Intimate friends among his gentlemen ?querries, servants, etc., who are supposed to have been intriguing with the apnstollcul party, and protecting the privato pleasures of his Majesty. The King, it seems, is engaged in the laudable occupation of fomenting the discontent and bitter feelings of hi* spouse, our lady? whom God preserve. The Court i ('turned to Madrid on the 1st instant, some what unexpectedly?a* it v, a a supposed the (}uc:in could not be moved so s >on after hor miscarriage?but Her Ma jest appears ?? to have made an effort." Coincident with the roturn of the Court and the deputies tlic cholera, which has been just r live ail summer, lias shaken it .elf, stretched a little and killed u hundred or two daily tor a few days past. A change in the Cabinet I* Inevitable, but therein no great probability that anything better than the a'dual miniate s will come ont of the troubled pool, and tux! knows they are bad enough. We shall soon see whether what is raid to beboyon I a doubt, and what oiirgoaernmeiit U sr silent .about, isruil lyjtrue or not. lie.are told that the alliance between Spain and the ocet 'entnl powers for the war ng.ilnst Hut sm, is a tiling already settled between tho Cabinet,- of Madrid, I'aris and tendon, -md'hat the consent of the t'< rtes alone is all tlwt is lacking. It is pretty evident to mo that tiie government ought not to count much upon the Cortes in this matter, upon who h. also, the opinion of the couBtiy has already liaeu so fieely spoken: and it is to be expected that they will en counter a terrible opposition, nltheugh they should make it a question of li'e ? c death for themselves. All that krepj Espartero and O'lmnell in power now, is the lack of .anybody else to take their places. The saleofthe tsnds of the clergy released from mortauath has already paid the goverment $1,000,000. and proceed quietly, t,oral Catholic Spnniarls come opto the work and buy land when a handsome penny c*n be turned, Without appearing to care much for Hie I'ojgi or the cler gy, who denounce all purcha-ers of church property as heretics in danger of eternal damnation. The budget Just pre ente ! to tli? Cortes, by the Minis, ter ol Ft nan GO, lives the estimated expense- for the tear 1866 and nine month- of 1*67. up tolOctober 1, at '2 1*<V 238,408 reals, or $100,811.02040, ot which $63,048,366 HO correspond to the year 1.-66 and the remainder to 1*57 The freshets, ta comequence <d that Mr. rains carried swav a bridge i.vt r a little ,tr, am t|(0 r?i|wmr three mile- from Madrid, so that the train- fr.un A1 ?at* and Arangueznow start and arrive ?t a tcmporar> ? epot at that point. There are vet vfew of youreonntrjuien h*re at present, besides the families of the new member- or the Ameri- in legation, some three or four travellers are sit tlint I knew of. General and Madame Wllllam-on. of IWiii note aad their two sons are still hire and will remain some time longer. I am sorry to le.irn that the lady rf the late Secretary of laration, Mr. IVrry, lie- inavsrytbli. eate state, at I a (iranja, where they went soon after hearing i f Mr. l orry's rvmcval. |Allripain wou|| mourn the death of oor beloved and EJS lisdsss and may God avert it. The misfortune .v n upon her has been threatening ever ?** '** ?MWQcwuant of her hogbxud's removal, in his ditf.culty with Mr. ?oule. The iin State that'it lUL til I? *""* f? unfavorable 'o her Tf ? ".J** ***? impossible to avoid the result just . Mr .?>"? ? return to America, I Urrfar ^'.^UcS^'.'luihrJSP ""?? and lie still rc Ami a house to .uit them Mr. Da% i . I b- ne ..Jy iUi i&d 1 ht"? c . bad an ulty of ageing. excipt In Y>' r oarrii ge," at the i raui. i; i? out a few daya since they returned to Madrid from the Esctuial. ix, CID. IMPORTANT FINANCIAL INTELLIGENCE. Aspect of Commercial Aftlra InSaropesllew Knislan Loan?The Condition of the Bank, of England ?< d France?Tlae Drain or Gold, die., <!ke. JKrom the London Time*, (city article,) Oct. 11.] The probability of a further advance to-morrow of the Funk rate of discount to 6 per cent was the chief subject of discussion during the entire day, und political news is comparatively disregarded. Iu the Stock Exchange anil many other quarters, but not among the loading bank ers. the belief in another upward movement seemed gea c.ul. The him appearance of tbo exchanges, the be lief that no additional amounts have been withdrawn during the past tew days for France, and the knowl edge that some gold was yesterday tuken to the Bank, encouraged an Impression that a frosh stop may this week not be deemed necessary: but, ou the other hand, it t ranspired that (Ac tlrmawl for discount at the tank had again btcn extranet), heart/, and the more favorable symptoms were therefore completely neu'rallud. This increased demand on the day preceding the Bank Court must be expected every week, until some assu rance can he gained that 1 he exceptional coarse of the I'ank of France is ended, since the commercial communi ty now provide for their fears rather than for their wants, t the private bankers and discount bouses could but ' lely that the extreme rate had been reached, their confi dence is such in tbo general stato of trade that they weald immediately afford abundant accommodation, it s therefore piohable that an immediate rise o:' 1 par cent, or even limit', provided it were known to lie the last, or could fairly be considered so, would be followed by much less Inconvenience thnn another movement of u half per cent, wi'.li the prospect a week hence of further disturbance. The perplexities of the public regarding the past and probable future operations of the Bank of France aro un diminished, and until the proceedings of that institution assume a plainer character, the commercial business of both countries must be seriously disturbed. The ma jority appear to consider that tho method by w hich the recont measures woro carried out was in accordance with that ulready described in the Times; but a variety of sug gestions ar e forwarded by correspondents, each illustra ting the extent of uncertainty that prevails. Thus, one writer, whoso opinion on any financial question would at nil timer command attention, observes : I think there must be some mlstnke in the idea that the mea sure can have been accomplished by an operation through the Hoarse. It seems to me evident that If the scheme has been carried to the extent mentioned (?4 000,00(1) tho bullion can only have been obtained by the deposit in thl t country of some general securities with tho largo financial establishments having heavy deposits in their bands, which lliey tuav havo been tempted to advuuee by the oiler of a high rate of Inter est. An operation of that kind may bo carried on for many months, provided the borrowers be willing to pay (he rale o.' Interest demanded. It appears to mc the Inquiry Is worth notlee. W'hpthor, however, my Idea be right or wrung, it Is clear lhat such mysterious proceedings may prove extremely detrimental to both countries. In the present cordial good understanding bet v. t on France anil England It becomes the duty of both to unite their strength in every way not to dlvido It. I have often thought that antnlintate correspondence upon emergencies between the two banks of France and England might be beneficial to both; and If the existing charters of '"her do not now admit ot It, an alteration or power to accom pli It that object might be given for their mutual advantage. Another correspondent considers there must still be some influences In operation which havo not boon made public, and is disposed to agree with those who suspect a Russian loan. " It is stated," he obseives, " by foreign merchants and moneyed men, that the Russian govern ment, not now In very goal crodlt, have offered terms to the Hutch bankers for a loan, which, it would seem, thoy have not been able to icsist. This litis led to the s-.a'o, in the English and French markets, of all other kinds of sc.. curities, national and private, held on account of the Butch bankers, the proceeds of which have been remitted to Holland in gold, to be sent thence to Russia." Such a sup position, however, is not borne out by anything that bus been lately observed. Some Insurances for gold to Ham whore the market for that metal ia ordinarily very limited, attracted attention two or three weeks ago from the Impression that it was destinod for Berlin! or, in other words. St. Petersburg: but the total sent, although larger than la usual to that city, was not ot any magnitude, and during the list fortnight the Tea tuie has censed altogether. As regards a direct loan from Auistoidum to Russia, tho transaction coiibl not long ha concealed, and wouli, it may be pre mined, im mediately give lire to Interference on tho part of the Al lies; while, at the saino time, its difficulties would bo in creased by the eertuinty that no houses pretending to any respectability In Londou or Paris would lend tliom folves to usslst it. Indeed, on this point the same cor pondent rightly observes:?' We sboLll object to any of tie con'Incuts 1 governments supplying Russia with ar ticles contraband of war, and it is surely as objectionable that they should be permitted to supply her with gold tlic sinews of war." Ihc next letter contain* a proteit against the recom mendation of a previous correspondent, that tho Bank or England, instead of raising th?ir rate of discount, "should reduce the period for bills to run. Another -wri er refers to the anxiety felt for the up pearunco of each bank icturn, and urges their more speedy publication. Tills lias been previously recom mended in various quarters, and one objection to it was that, if each return were inserted in the 'la-.elt- imme diately on its boirg made op, it would be impossible for tbo bank court to delllierato upon it previously. It is now pointed out that the difficulty might be met tiy alter ing tbo date to which the satement is prepared, a step that could be authorized at nny time by the Commis sioners of Stamps and Taxes; but It Is the bank arrangements wou d upmit even os this plan since it is understood tl at the publication already takes place within three days ot the time when the account is completed. [From the London Times (City Arliclo) Oct. Iff.] The Bank Court yesterday passed off without any al teration being made In the rate of discount. The Knglbli funds openod with dolness at the final quotations of lust evening, but in the afternoon the mar ket assumed a steady tone, and a general rally took pln.c before the termination of business. The first price ot ( onsids for money was SH.'i to ??, and they presented an extremely unsettled appearance throughout the whole of the morning. The sitting of the Funk Court was pro tracted to an unusually late hour, and lliu anxiety In the interval was such as to lead to an almost total pemion of operations. When it was announced that no new step had been resolved upon, a gradual improve ment immediately commenced, and the last official trans actions were at So'd for money, and 87 to for the ptli ot Novrmter. At a later hour Increased firmness was manifested, and there were buyers at 8CJ, for money, while the price for tbo account was 87',, to K. At tbo commencement the speculators had shown a general dis position to act for a further fall, but the public coutinuel to make rather numerous pui chases. The lottors from ruris do not allude to any further contiacts fir gold by the Bank of Franco, but they state that unea-lneei still prevailed regarding the stock of bullion, and that there wa? some expectation of an advance in the rote of dis count to 6}$ per cent. It was considered, however, that a good effect would bo produced if tbo Bank of England Hufiiui nb.stfui) from making aiij change to-djv, The belief hi any new and direct Ru-riau loan having been covertly managed at Amsterdam seem.- for the pre sent to have been dissipated, and the pnbllc ure disposed to hone for security upnn that point, not onlv from the tan that no English or French house, even of the most questionable chaiacter. would bo likclv to cn-onerato in it, but also from Its bring the rccogulzed duty of any hrm to whom proposal- iff the kind might be'mu !e to communicate them ato. ee p. tho allied governments. Tlic possibility of such an attempt will undoubtedly call for Yt'tf tchtulr.OfH; Tut, so far !rom peeking further i r?a^0118 those afforded by the action of the Bank of France tor the present *tate of tho Lon di n money market, the most experienced jers ns have, as liss been already observed, reason to feel surprise tent the disturbance liai uot bee a greater. II those who have noticed the effects of a sudden exportation or gold upon trade and the prices of stocks had Imen pre viously told that any amount approaching ?4,(SKI,000 was about to bo withdrawn bv an artificial and secret operation, extending oyer only six weeks, they would have felt convinced that cisastir* of the must serious kind co'il i hordiy Ee averted. In 1847. during the heaviest peri id ot the panic fiom February, when con sols were nt 91. to October, wl eu they touched 78V, the total din -.nut ion iu tlie bullion was oxnetly ?.7,975 bOO. i"Pv""1 f,vor n??rly nine months, while Jvl r ml <? WKk*"t point durli g the inflation of 1840 the to iug off was only ?8,000,000, ?,r just twice <ho sun now alleged to have been taken from us. Thediffereucs In the result* between the two periods Is to be attributed partly to the lower point whencethe decline in the bullion commenced, but ctlelly to the . ifferenoc be;ween the desperato unsoundness then prevalent and the nnlver-al nenIthines< i f our existing commerce. Even bv the most sanguine however, this healthiness could scarcely have en supposed to be such as to have enabled the shock ?V , "Hbsioc.d in the manner thus fir witues ed Whoa it is eoollectcd, moreover, not only that tha TuikLsh I< an and the sudden demand f r grain came at the same iriment. but tiia tho fpeculator* and aliTinUt-^t all !"?'<wly in their ignorat.c-- of the real state of the country, sml b.-fur* even the first vrhl?ner ihr tn< vm ents of the Rank of France been ?geriv put ting forth statements, that Instead of r.cing in a ?afr Ultt. n we were approaching a crisis natural eireum star..*., the pnlffle will oe th-y have the highest reason to r.jelcc that, n.ff luring permitted themselves t- U deceived as to the actual ca, e. of the ineonvenienee l.ey are fo.ced to sustain, tbev have bcon in a p,. i |o? to w upon it without that dismay which would .ail culablj bn\o (ocrrtued itf? cYibt. i From tho I-xmdoTi Chronicle i ftv nrticlci Oct 1 ?"* Thi- (<ict 11; has been a lay I con-i <leru Me anxiety sndumerta ?tv to b;"h the rommerrl.l and tho worn?. t.irx interests, lu? terminated more sa'.isfac,. ;tv than WisI anticipated. A general impression prevailed that tl e b*nk tale would again be put up. nrfd the inter. 0 t displayed in the drlib. rations of the ww riv board meeting of the .11,colors was consul4 gr.ater had been manifested on previous ., , I sions of un advance t*lug deterraluel np-.n da t'i stock exdiangc the anxiety of the members was dis played with ohaiecteil'tlc feeling B.-u w: Oft-.fdrn the evi nt, end -u some pethM .(the lay bu was quite suspended, trcrv ?>? e tvalil.ur fj> the .announcement wi'h nntnl.'takea'ble cri' >n. id a fldgrtty nod .ir..-eftle-| feclin.-. Tho V ard no ; .,7 , . lack pari ,r did n< t break up unfit tat- n ttie aftern. n and the lobby letuing to the room vav tor a lergih of tin e quite Mocked up with persons ile.irons Lnow wliat decision the directors had come to. Tu re01 It had tn iirn>? tnte effect on the stock market. Operations were :e umt d with rent wed vigor, and prices, which hv.l 1 ri vl? u 'v 1 en heavy, suddenly ei>ratnenc"d ri?ir.g. an I a. . r some fluctuations, the market generally .lose! much stri.t'ffwr instead of again raising the rate of In Jtrrest, the dice-tors purpose eheeking the demand 111 .11 Kin. ?.Vi t by refusing to discount Briivilin Mils which have sny e mnettlon with the drain up ui its luetjilllc ano note- teserv. .1 UL\ ""fraI'bic ad.iers icceive.t from Heilin, it ap onrs .4 mir uivnV rr,T"i* r*'ra,e 01 'n(?r*st on mer.isi bills to 4 ij t er cent, and fir loans on the deposit of-ecurltie. to ,,r the present month there are two Instalments " " ,'?,jr "I"?" ;?1f en account of tho ?1 .. nT? IP,h J 10 Pr amounting to ?1 10,t Off, on seeonnt ?f the English loan, becomes payable; end on the ffOlh ins? there is the instalment of pei ei . iu.. 1 r to .,?> >/ i u?... i b? .. &?? ? akiny i ?'aX ?2,6ou,JC) . utth<ln..jiifi\> the ii'jjiy in toe market. [From the London fhronielc. October 12.] 1 litre are, at the present day, many in whom, proba to the " bly, " tbe wish is lather to the thought," who are in the habit of exclaiming that " the sun of England is ?et," and that the immense burden of her public debt will prevent her from carrying en the present war with that energy with which it ought to be conducted. A parliamentary paper just printed contains some very in teresting and useful facts on this subjoet. The result which it exhibits, taken in connection with the course of commercial legislation during the last ten years, may well serve to dispel any gloomy forebodings which may be fndnlged in with respect to the financial position of the country. From this document, it appears that the total amount of our unredeemed debt on tho 5th of January, 1821. was ?801,505,000, bearing un unusual interest of ?18,064,000; while on the 01st of March of the present year the debt was but ?751,645,000, aud the aunual charge thereupon ?22.557,000, being a decrease in the capital during the tlilrty-t'our years of ?40,334,000, and of annuel inlerest ?5,179,000. During this period our average yearly payments on ac:ount of interest and charges have somewhat exceeded ?28,000,000, thus mak ing an aggregate sum mor e than equal to the amount of the whole debt in 1821. This, however, is not all; we have not omy paid writh regularity tho dividends upon our stocks, but have reduced the capital of the debt by uot less than ? 12,100,COO. being at the rate of some thing like one million and a quarter per annum. In 1820, the quantity of 8 per cent stock which existed was ?155 470,000?at the present tiuie there is only ?433,000 of that stock borne on our books. We have now no 4 percent stock, while iu 1820 there was not less than ?75,486 000 of that description. Thirty-live years since there existed 830,042.000 or 3>4 per cen1. stock?there is now but ?2,871,0Co he rring that rate of interest. In stead of a sum of ?530,947,000 of 3 per cents, which ex isted it 1820, lire grert bulk ol the debt is now formed of that stock, reaching a sum of not less than ?745,333,000: and we have also a 2>f per cent stock, which did not exist ,thirty-flvo years since, representing $3,007,000. While we liuvc only succeeded in reducing the nominal capital of the debt by something less than 5 per cent, we have effected a reduction in tho amount of interest of mere than 20 per cent. Of stock paying dividends of 3 per cent and under we have now ?748.341,000, against ?539,947,000 in 1821; while of stocks higher tban 3 per cent there were on the 31st of March last but ?3,304,000, against ?261,617,000 which existed on the 5th of January, 1821. This reoucticn and modification of tho public debt have gone on contemporaneously with great and important changes In our fiscal and commercial legislation, lly equalizing tbe burdens of taxntion, and removing many of tho impediments lo industry and manufnctuics, we have been enabled to obtain a larger amount of rovenue with less ililllculty tlian was experienced when the na tional income was considerably less, our revenue from ordinary sources having increased from ?84,600,000 iu 1821 to ?69,000.600 in 1854. During the period to which tlieso returns refer, it must alsobeboine in mind that we have created ?71,668.000 of new stock by loans for slave compensation in 1836, re lict of distress in Ireland In 1848, and other subjects inde pendent of tho ordinary revenue aud expenditure of tho country. A very large proportion of tho public debt now consists of new stoek created during the last thirty-four years in exchange for original stock, being in the aggre gate nut less than ?523,358,000 ; this amount set against ?566,600,000 i f redeemed stock, gives a total reduction of debt dining that interval, us wo have already said, of ?43,334 000. We by no means wish to contend that any very extra ordinary advance has been made in the liquidation of the national debt ol the country during the time to whi.'h wo have referred. Tho period, however, which has in tervened between 1821 and the close of 1854 repre-ents that which is generally considered us tho lifetime of a generation. With the present year a new generation must commence to ileal with tbe debt, and wo may derive s< mo gratification from the knowledge that if eighteen of our succeeding generations liquidate the debt which shall be bequeathed to them at the same rate as that in which it has been redeemed by us since 1821, the children of the last of that long line of generations will tho privilege of living in u country, no part of ihe revenue of which wi 1 be absorbed by tho payment of dividends on its public debt. At the peace of Utrecht tho debt, had increased to fifty five millions. Englishmen wero beginning to get accus ti ilu d to Ihe thing, and in tho sovonteou years which followed Ihoy liquidated only eight millions of the snin which they owed. Then eninc nine years of the fpunisb war, which, ending with the treaty of Aix-la-Cliapelle in 1748, added thirty-one millions to the burdens of tho country, Levin years of peace loliowed, and during the l'clbum administration a reduction of six millions was effect' ('. Then come another seven years of war with France, which added seventy-five millions of debt; and In the jear* of peace which followed, prior to tho break ing out ol' the next war with Eianco, we grew more lix in our payments, and not more than half a million could be spared to the honest purpose of paying off the debt. Id subsequent years it was thought that to make an oppeuiancc of honesty would be the best policy, and ap parent l eductions we: e effected iu the national i" parent 1 eductions we:e effected in the national debt, by means of loans raised at a higher rate of interest than those which were extinguished. Thus it would appear that more than a century since our national debt was considered Intolerable, and gi cat efforts were made to re move the buide-n At a liter period, uuder the Pitt rigime, the liquidation of the debt from a borrowed sink ing fund was nothing but a hollow sham. Now at the present day there are large numbers of persons to be met with who lerioui ly cowtend that, there is no evil in a huge national debt?that it is but the accumulation of a gnat capital supeiadded to tho other capital of the coun try: and even the payment of tho interest is looked upon us no public burden; for we are (old that as tho money does not go out of tho country, it Is only our ri.qht baud which pays the left. Of our public debt it may be truly said, as Pope mote of vice, it is A monster of kiicIi hideous mien, As lo be bated, need* but lo I e seen; [From llie hendon Globe (City Article) October 12.) 'I lie liechion at which the Bunk of England director* arrived yesterdny afternoon woe evidently the remit of attentive consideration and anxious discussion, and it must be admitted that tbo icsult bat been to all'ord Consldciohlo satisfaction, which however would be greatly intrea.-ed if any reliance muhi be placet upon the rmtinhame rf tlu present rate rf 5)? for disanmti. It ha* been frequently mentioned under tbl.i head of lata that the tendency in periods like tbo present was towards un due excitement and exaggeration, and, if the considera tion due to the mercantile interests can bo made compa tit.le ?i'h lie strong control over the bullion market, which it is imperative that the hank should nuiintuin, it would ii died be ? matter for congratulation among *11 who wish to see the courso of industry How on uudis tvftl cd by artificial causes, lhe war bus an in evitable inlliience upon all pursuits, tint the pto-cnt contest is so txccptlonnble, that, not having a uiuriiime enemy to deal with, our commereo has sustained no in terruption, except In the quarters where wre ourselves have interfered. It lias even been the policy not to re fuse through indued channel* tLo produce of ltussia, and al'hough there me s'rong objections urged to the si p| ly of money which this altoids to the government at Ft. I'ctereliuig, there is at any rate avoidance of piiva li< n to the Bii'bh consumer. Supposing the Bauk of France were to act in conceit with our own na'ionai establishment, tho recurrence of that struggle for bullion which has caused a depression in ull propcity to the amount of 10 or 20 per < ent would have been mitigated If not avoided, #D'l n strong hope is expiessed that more consideration will ho shown in future, and that the Bank of France will take its measures in good time. It may appear singular, niter ull thai lias been raid upon the subject, that even up to the present umuicnt. as appears by private letters from Vienna, there it a great doubt whether the Aus trlnn government has succeeded Inluyiuga secure bads for Its financial system. Its tinxiety to secure a metallic cm icncy lius induced it to offer an immense premium to tbo;e foreign capitalists wlto would pay up in silver the subscriptions for luilway and other concessions, and, true to its policy of delay, the contrncts may not jet have been signed, and even the gieat firms which ottered heir co-opei ?1 Ion may bec< me convinced from tlieactlon of the I:ank ot Fiance, the interference with the Oedlt Bold Iter, end the unsparing measures of the Hank of England, that they tie no' : o\ory independent of public opinion and of circumstance* which o(Te< t the mercantile body at la ge. as th"v buve perhaps supposed. Calcula tlons of 20 or 1.0 per cent profit upon the conclusion or peace aie mateiially disturbed by the charge of 5 or 0 jer cent, and the limitation of accommodation. Twilv s: o'clock.? Ihesettl mout of the speculative ac count belitf now In progress, and tho sales upon the prc lumptli n the bank would again increase Its dl-cauut charge having rendered the opeiators still more beari-li, thcic is that partial react ion which many hvd antici pated. e-ppcclalfy hs the public hAre been quietly lovogt ing. am) the nividi nd; are payable to-morrow. The im prov. nient In'on.-tla i;- about ? per rent u?ou the clos ing lutes of yesterday which who ^higher, compared with the prices obtained before the bank decision was km tvn. 'Die qnolath us fur transfer arc 87 to $7\, and for November, Si ', to 87',. The foreign sccuiitlc- aic quirt, and the rally in Turk ish Bonds is not quite commensurate with that which lia* occ irred in the l'nglisli "stocks. Bailway share.- aie more buoyant, and with lotne in ciiii-oln he general transactions. Ilie Jtini Ftock Bbiik Fciarev ai" firmer and Cana la ( mpnnj r) en higher. Tw. ll f i.<:< i ?There is a further advance in Consols, which have touched 87'j 87', for transfer, and 87 ? - , fit the next settling day. the 8th of November ll.e utiture.iddiht. however, i? lowei. cash being always m ?re needed in the Stock Exchange upon nreount dnv. 11 e quotations have bren hs. to 8s. dls. Bank stock has b< i u dealt :n at 207 '-09. India bnn 1? are 5s. dts. to, and 1 rehequcr hem's, 98*,, . Now ' per t'enti have been 87 87 and Reduced, 8 'j 89,'^ In umi of the foreign sicurillc there is incrrnsed t i. ness and this is most epparen' in Tinklsh bonds. ? he 0 per tent* tring at the present inotr.en: 8f;'^ ani ft I; am! ti e new scrip k>, jer rent discount Mexican s ock lm? ijsrn ,'j per cent namely ti ll'j. French 11 I er t ent strip Is Again quoted at i" r. T(.,. \.jhc I rids ? i:1< d S'l edy At tin ptire- pre, iou?!y n, v,.-i Mo-1 ; minay Pbarc* have Improved, an I in -? > era' In stance* full "4 pre. at. Fill! the market I* no: *o active a ?no mj r< red 'eeling would h >d many to exi #??. Ilie tieich iit-c . ei otii.ue nominal. ; nd in other dt- ri, - tiers ol star... there i- no feature of imp rtin e H 111 I'w 1 hike tlti m a ?The fund? luv ive been I ntinui risly hlntr. fr.n-rls have result'.*', , m; brtian ter, anl 88 Not ember Die I ri'uteled flebl 'he iante, furkirh bonda tor ateonnt. after Fein 81 to 81,'4. rh ent (0 ? a 8C/? while the money pri-n have i tolnslly undergone noaitemtiur Dure the mornlug uo turtl er p rrhotc being undo. The New So rip lias linen to ; srd :l -'is. Pienab Scilp ha -dvantvl to \ prsm The railway -bare market close* at a further Ugh'. |m provi ment, and in some in tanria it is if to v p ,| ceut I I*lier than yesterday. (En m the London Slipping burette, firt. 12 r ue o'clock. 11 e toot of the Bank ot England not having yesterday ? urll er sdvarmed the rut* rl dtacount has ratiied great relief to the ah- le mercantile trade and ihe monetary in'eitat. Foi.-cna who hove hitherto thoughf Hint tho valne ofmorey would g i higher seem now to think that there li the probabi.ity of a decline In the pn-?nt uno fatiens. ihe i rmand for dt counts on lhe P*nk of 1 ngiat.d on WmmiIit, wi* u.-utonhteali very heavy. jul m uei. if U was in autit-q atnn i the . U- 1 :,oor, rather tiiwt. Irum the absolute want# of the mt...nUle am! other lbere b no repetition of the gloomy foreboding* lately so treely apoken of, and the report* of serious difficulties to no lees than four large establishments hare received a positive contradiction, and cease to create any unpleas ant apprehensions. Ihe English Mock market is very buoyant, prices hav ing further advanced, making a total improvement on the lowest quotation* of yesterday of no less than 1 [From the London News, Oct. 10.1 We are stroDgly impressed with a feeling that the po sition of the money market calls for continued and strin gent caution od Ihe part of the mercantile community. There is, unfortuately, much uncertainty in our present position. Oar metallic reserves are being drawn upon to a serions extent by needy foreign States, and although the rapid riso in the rate of discount proves that our market has assumed a decidedly defensive attitude, we have not as yet attained a sense of comparative security. When a useful lesson is to be inculcated^ we think some degree of repetition is allowable, and we therefore ap pend some ot the more important results of the Hank of England returns since the commencement of the present

half year:? Other JVbtei Coin SecurUiet. l'ii<mfAtiinil. aiul Bullion. July ?13,1158,{MM ?10.412,335 ?17,534,066 1* 12681,833 9,633,020 17,328,896 2 1 12,706,108 0,207,943 16,644,182 ?-8 12,913,262 8,781,143 16,385,392 ?Aug. * 18,592,925 8,892,300 10,231,734 11 14,289,692 9,156 845 16,276,298 18 14,943,060 9,229,550 16,110.078 -'5 14,995,232 8,874,555 15,545,987 Sfpt. 1 16,661,985 8,268.380 14,939,118 8 16.637,227 7,525,900 14,217,376 15 17,588,784 7,396,800 13,698,455 2 2 18,609,278 7,. 86,815 13,268,607 29 19.916,763 6,195,570 12,038,928 During the eume period, the government securities held ly the hank have diminbhed from ?13,767,224 to ?12,125,020, a difference of ?1,032,198. How much of this sum represents sales of stock and exchequer bills by the bank wo have no means of judging. The most satis fictory item of the hank balance sheet is undoubtedly that of the public deposits, which stood on the 7th of July at ?6,852.350, fell on the 14th of July; owing to the quarterly dividend payments, to ?2,811,014. and has since gradually ascended to its present amount of ?8,144, 200. A mere glance at the above table affords sufficient explanation of tho progressive rise in the bank charges ; and it is evident that ifthe resources of the establishment continue to diminish in the same ratio, the rate of dis count has not yet seen its highest point. On next Saturday, tho 13th inst., some roBcf will, it is hoped, be afforded to tho money market by the com mencement of the dividend payments, which will re lease some tlx or seven millions; but, on the other hand it mu.^t be boino in mind that these disbursements have been discounted1' to even a larger extent than usual, by the advances made by tho bank during tho last three or foul weeks. We must also take into account the sum that has to be paid on the British and Turkish loans. On Tuesday next, the 16th inst.. the 10 per cent, instal ment on the former will ah.-oib ?1,000,000, whilst on the tullowing Satuiday, Iho 20th. an instalment of 20 per cent. on the Turkish loan will withdraw ?1,000.000. The requirements for these two loans during the next ten days w ill thus amount to ?2,600,000, which must be placed us a.sot-off, on the adverse side, against the go vernment dishurt cinents to f1.1 dlmlders. Moreover, Ore million destined for the Turkish governor nt writ,' it is apprehended, be chleffy required in the shape of specie. Mianwliile, the knowledge that the tendency of gold to lb whence to Eianceand elsewhere is not yet stayed poinls still more strongly to the necessity of caution. ' Notwithstanding tho prevailing uncertainty, however, we believe the public arc now forming a tolerably accu rate Idea ?f the real nature of the influence* affecting the money market, and we fear we must add that their arrival at such well founded conclusion has been mate rially impeded by the remarkable peculiarity of the opin ions impressively enunciated by the lima. Throughout this monetary movement onr cotempoiary Iras signally distinguished himself by a series of contradictions and ra.-h assert ions, and we think it, greatly to tho credit of our- merchants that they have been atilc, despite the fi.g thus raised, to discern so accurately tho true position of affairs. We all remember, when the Bank rate of discount was raised to four per cent on iho 6th ult., the alacrity with which the Times stepped forward to asHtrrc us we might -'rely" that no further advance would be ruodi-d and we al-o remember how rudr ly the happy uncon cious noi-s cf tho writer as to the coming pressure was dissipat ed, no later than the following Thursday, without fur ther warning, by a rise io 4>? per cent. No fresh ad vances howivcr, taking place on tho succeeding Thurs day, (the 2tth ult.,) our cotemporary regained courage and ventured upon the promulgation of his notable thcriy tlmt the whole movement was the result of causes or "a purely accidental dm-acier." Tho most remark*, bio ot there "accidents," in this short-righted writer's e5 JSii ^h*."8 apparently H o non-urrlval of an expect ed ?6CC,000 in gold front Australia. Scarcely waa the ink ol U.cso obtervations dry wheu news wus received of Iho arrival of this identical amount. Although It was a notorious fact that there were at the moment large Continental buyers of gold in tho market, our cont-nr porary inrnudiately asserted, cirectly contrary to the opinion enioitainsd in all well-ln'ormcd quarters, that this supply would be at once sent Into trie Bunk. In stead ot this, not an ounce ot iho gold wus thus re tuned; but, on the contrary, tho Bur.k raised its rate of discount rn ihe 27th to five [Or cent. It having (runs J pfcta ihat the bulk of ihe>e bullion purchase* were to complete a contract for ?1,600,000 on a-count of the , Hunk rt Honuce, the Timet iniincuiutely proceeded to piovo to its own satisfaction that --tho purchases which ate now j-nia for by the proceeds of uUeountod billv must, when these tills mature, bo ruot in specie." We I were enabled ourselves to offer some authentic exiiluua Hon if the op.ration in question, which ltd us to the conclusion that the return of this gold was not to bo looked for. Cur ronteuiporars, however, on the 1st lost., waxed li'?,lily indignant at.lhin idfa, and o\en ventured mi re no, hut in singula! ly had taste, to impute un worthy nntive*,|obseivitg:? ?Pll?l*ntiy l-e'ng made to create an Impression iofofc ,/P'^cssof withdrawal from this r-oimiry by iiie I nnk or France w II not Infallibly find Its way back?a stair ment simply representing un Idea dint the Bank of Fran inuladrew money from England on n-edlt. without ov.-r In to - i s! i d upon to n pay It. Coder ordinary circumstances, r. f.-i inn- to auch a point would be needless, but Ihe activity of si ci ulatlon renders It necessary. ' 01 The same delusive view, in spite of repeated contradic tions, was persevered In daily. In this same w-eo',, betwnn tie -.8th ult. nnd the 4th inst.. we drew ?<ofVn"1 r1'.'. .J?01 extent?no less lhan ?4. <10.0(0? of the gold contracts entered into for the lank o! France, and we felt hound to givo ex ptession to the earnest hope entertained by the taut ions leition of the community, that tin I ark ot Erg'snd would not hesitate to adopt ihe further no nunc ol ton eel ion involved in arise in the rate ot uifcount to 6X i*r cent. This advance was announced <n ihe sth. 11 e Tima, which throughout the week hail not made the slightest allusion to the probability of the sep could not icstruin some expressions of surprise and (livfia.isfiiction, and came forward on the Sth with an e'nhornte and length altimpt at sdf-vIndication, In which icvei a I aigi-ments already refuted weie still persisted in 1he writer s memorable '? accidental" theory was eg.In revivtd. and speculative and uni-atrlotic motives "< ,o f-e< y impaled to all parties venturing to think nnd wine i theiwite than in accordance with these views, rhe wilter was especially severe upon a "multitude ot theories" put toward by the mercantile commu nity to nccount for their confusion, one of wh'e.h was that they bad all been misled by tho.7.m?i, whilennother comprised the idia that Bussla had been secreily borrow '"8 ' ,',hn Crft of "esc "theories" many people ieem still disposed to believe, whilst tho latter "Idea " was eeitalnty brought to ihe light of day in the city at'lclo of the Timet itself. The most (inngerous pait of our contemporary's nrgu. mint we think is this, that the ojiciations of tho Bank of E ranee are almost the sole cua-e of tlio present pressure, and that this g<dd must " infallibly " return. We have no hesitation In expressing our eonVietion that rash statements of this kind aro highly mischievous, and that In H e [resent uncertain sta'e of affairs, a journalist i guilty of a positive . en liction of duty, if he fails to do his u.niost to impiess prudence and caution upon the public mind. In many respects, our existlng'monetary position is anomalous and novel, nnd should rathor induce calm dis lunicn than tire hasty enunciation of partial and ill Considered views, l or our own part, we have endeavor ed i n several occasions jn n dispassionate sptrl', to di rect public watclitulne-s to elements of disturbance wnich were In opeiation upon the market long before tluse transactions ot the Bank of Fiance commenced, w c have put forward statistics showing the enormous nciswse .n :he Eastern demand for silvor, which for some time J a-1 nas actually l!eeu causing the wltlulrawal in m E lance-of a por-lon of its silver colnnge, to be replaced by gold lahi n fr? m this side. Tli# drain of specie for the luil.isli loan, lor the Commissariat service, lor the heavy g< Ti rr ment i xpenditurethioughoutEurope, and forg purchases. has also been duly noted, and we have iften In vited our res der* to icHect whether the influences here In rnwd a:e not sufl'clent to induce constant caution. Wi ll, w repeat our warning that the prcisure is not yet over and that mischief will arise if the return ot our R-Id fr< m Frnuce 1 e tilled upon. The present policy ol 'he Bank of France has doubtless received the sanction of the I mperor, who has shown on former occa-ionsthat h* has no scruples in utierly Ignoilng ordinary piInel ples of c< mmercc when s< me spe<-Ial object i to he at thlr.rd. lmpiefied as that i:responsible government Is believsd to he wi'h an idea that it is a point of pars mount impoitauceto attract gold at the present junc tuie. we appreheud it will do Its utmost to prevent the reflex of gold hither. At the raine time there is strong gi< ut d for tb? hope that the upward movement in our maury market will at least misleratc the reflux of the p i t . us metal until so. h time as the French demand msy he met by the large remittances shortly expected 'rem Ans'ralia. [Firm 'he London News [City Article) Oe.t. 12 1 It being the w-nkly board yesterdry at the Bank of i rp ar d, and an -mpiesslon prevailing in many quarters that u further rlst would be made in tlio rate of discount busltets in tl e Stock Exchange and in other brand.ea of liai'o was su'jectcil to much uncerulnty. /Ac nUtini of fir . t. - :? rr) rornl rslraonlinarily yrotrtu-inl, and Irauta'c i.iVf , . i ie tlmk Viarlr'g tnamr yaiaaHy nimmlni. At (i gib. at nrariy 2 o'clock, it trauspireJl th it tho B ard l ud liti hen up without the announcement of any ehaujrc in 11 eiate of disci unt. The English funds, which had lub d <iuil, at tlie closing range of yesier<lay. during the Ir.tbr ) n11 ol ihe discus-i- n, imme.iiat. ly showed an upward 1en<l<n.y on tbe result being known iibd, ?f;<r ?xhibltirg considerable buoyan-y, finally eifud at tn advance of to % per cent. Kni ycf the purehnses cffectiol were to cover previous speculative sales. li e length ot the ilinumion at the ). ?./. intnj.rdnl as imiicatinff the ixixtence of con*Hern lie i ifji.,mroJ ot inii.n among the director/, ami Id u> a f .ri.s rt ml',- tj Ut* in Ihe Slock Exchange and rU ichn - Ihe <.s< Irian to abstain fit m any further advmee lor the pieunt hns evidently glv. n rise to a fetllpg of relief, as it ab' i.'s . n Ii.oicitli n that the emergency la not c insi le.ed u:gent. Indisd. It Is kn. wn that during the Ust few ' a u l J t? continent has iseelved a .?id,d cheek To day we heard of no inquiry for fi|MUtlop. It is hoped, moreover, tlmt hetirorn now and n?it, IhurMlny will b% wiiiev^l He ?r iitjI cf M Awrtrnlinn nf th?? pfrfoue p.r, tJ i. , , COtul?kriii.,|| Pointing to a turthor >n .?? HitnW t tbotght to t* tbo iMremi a. , ichli b-.v-noji-rw] at mat tr. t.' i.ji jrtbi j iiid to y, partly prompted by the caution shown in I- in bard street. The directors, however, probably recognised that this increased demand was to some extent exceptional, and due to tbc general desire of merchants to put themselves in funds prior to the exaction of the higher rates apprehended. "Oat of doors,M it is noticed, first class short-dated pape paper can still he readily discounted at the existing Bank minimum of per cent, and generally there is a good supply of money. At I'sris to-day, at half-past 1 o'clock, the Three per Cent Fentes were quoted at fit..1)!!, being about the samo as they elorrd yesterday. At Hamburg, Squish bonds a; e reported by telegraph at a further fall. BANS OF ENGLAND. An account, pursuant to the Act 7 and 8 Vic., c. 32, for the week ending on Saturday, Oct. 0, 1856:? Iune Department. Notes issued ?26766,026 Government debt. .?11,016.100 Other securities.... 2,084,900 Gold coin and bul lion 11,765,026 Sliver bullion ? ?26,766,026 ?26.765,026 Hanking Department. Proprietors' eapltal?14,553,000 Government hpcu Rest 3,682.118 rlties (Including Public deposits (in dead weight an cluding exebe- nutty) ?11,413,148 nuer bills, savb n Oiher securities;... 10,791.296 banks, t cnunis Noles 5.478,470 sinners of Nation- Gold and silver coin 514 256 al Deb', and divi dend account).... 7,106,524 Other deposits 10.837,643 seven day and other bills 1,012,647 ?37.192,162 ?37,192,162 Sated the ilth day of October, 1865. M. MARHUALL, Chief Cashier. PREV 101*8 WEEK'S OFFICIAL RETl.'R.N'. ISSUE ntFASTMFNT. Notes Issued ?26,368,256 Government debt. .?11.015,100 Other securities... 2,984,900 Gold coin A bullion 12,368,255 Silver bullion ? Total ?26,368,265 Total ?26,368,265 BAMKINU DEPARTMENT. Proprietors'capttal ?14.653,000 Government secu Rest 3,670,126 rlties, (including Fublte deposits, dead weight an (including exche- nulty) ?12,125,026 quer bills, saving Other securltlea... 19,915,763 banks, Ccmmii- Notes 6,196,679 sloners of Nation- Gold 4 silver coin 670,673 al Debt, and divi dend account)... 8,144,209 Other deposits 11,437,955 Seven dav and other bills 1,001,743 Total ?38.807,632 Total ?38,807,032 Dated the 4th day of October, 1856. m. Marshall, chtofOashcr. [From Golcguanls Messenger, October 12.1 The money market was very llat yesterday, as the spec ulators apprehended a new rise of on the rate of dis count ot the Rank of England. Bat as Consols had slightly improved, there was n rally on our securities. Nothing wus officially known about tho result of to-day's sitting of tho Directors of the Bunk of Trance, but it watj considered as certain that fhe discount would be main tained at 6 per cent, bat the bank would renounco tho measute concerning the hills at 75 days' date. The Threes have been Hat from 04f. 60c. to 64f. 06c., and the other securities remained at tho range of yesterday's prices. It was reported at the end of the Bourse that (lie Dlrtctos of the Rank oi Franco hod main tained the measute which they had taken last week. The Railway shares ware Htm, but without much business. Nothing particular in miscellanies and foreign stocks. Tho JHFrt m the Liverpool Journal (City Article), Oct, 13.] The embarrassed state of the money market has found no lelitf duili g the picsent week. Whether the drain of gold is attiibutablo to the casual necessities of tho Rank of Fiance, or whether it is a necessary conse quence ofu protracted and expensive war, it equally pre judices general trade, and the recollection of its ruinous inlluence in former years awakens apprehensions of its possible consequences now, which tho knowledge that every countiy in Euiopp lias, during lato years, largely incieaNid its gold circulation, cannot entirely allay. A further advance in the rate of discount by tbc bank, al leady raised te 6% per cent, was cxpee.tcd yesterday; and the absence of ituch u measure, aiguing its being unne cessary, bus already tended to increase public confi dence. i crimps on no previous occusion has a pressure like this on the finance of the country occurriii, when the stocks of produce have hcen so small, or when there was so geneial an absinre of commercial speculation or excitement. The demand for cotton during all the pi e sentweek has Leon almost confined to supplying the piesebt wuLts of tbc trade; only 5,020 bales been taken on speculation or for export, and t'kc total sale have not exceeded 31,060 bales. To day there Is rather more de mand from the ti ado, and 7,000 bales are sold at. about pre.ilous rates. Ameticsn descriptions have been offered very freely, tied tliey have declined fully p?d. per lb., sales having been partially made at some greater conces sion in prices. r:bo authorized quotations for "fair" American nro uniformly reduced y^d, per lb. Brazils ahd Fgypiianc are cnly in limited rt quest, and they, too, here inclined about ,'4d. per lb. CONDITION OP THE BANK OF VIENNA. [Vienna (Oct. 6) coircspondence of tlie London Times ] 1 be measures which I ho finance department has taken for tcstoting the credit of tho bank have not produced such a favcrjble Impaction on the Vienna exchange as might reasonably have l.cen expected. Hp to the year 18.8, cveijthing that could throw any light on the state of the Aubtiiiiu finances a as so sedulously kept from the km wle?'ge of the public that but few persons knew any thing of the relst ions between the State and the bank. Since the reiolu'h n flic public have obtained considera ble jn-lght into financial matters; and, as the subject is one i f importance, a comprehensive though concise ac c< unt of tho relations between the bank and the State will now he laid before you. In consequence ol the discreditable " Finance Patent" of 1811, the Country was so inundated with 8'ate notes (mlUijalioni-tchiiru,) thut ihc Austrian government, on the 1st (f Juno, 1818, deca'cd that a quantity ol them, of the nominal value of 180,COO.OOOH., should be withdrawn fiorn the circulation. In order to effect this, it was re solved to establish a iJiscouxt Bank. This institution, wliisb ia the present Austrian Bank, was empowered to issue 100 CCO shares, each of which w as to cost l,000tl. in Viet ra paper currency and lOOli. in l ard cash. In July, 1810, when the measure was carried out, the value or the State note representing 1,1001!. bad sunk to 2040. ia con ventional money, so that in reality the bank only receli ed :.lMfh per share. However, the new institu tion, which had many pilvileges, prospered, and on the I'd of March, 1820, it undertook to redeem all tbo btt'e paper still in < ircuiution, which amounted to 44f?,73f>,t'i.Cfi., at the fixed rate of 10011. in bank-notes or sllxcr for '.5C11. iu State notes, that the affutr *?< a pro lif able one is certain, for the bank did not think fit to in crease lt? working rnpital by soiling 49,370 of the shares which it still hail in hand. At different times various dealiigs took place between tho State and the bank; hut it will suffice to suy. thut soon after the institu tion was founded, the State became the debtor of the hnrk to the amount of 61,008,000(1. After the year 1E48, tbo State Treasury ww completely exhausted, and at various times the bunk ad' anted 56,0011,00011., for which sum, on the 28d February, 18.72, a pint of tl.e Imperial saltworks was mortgaged. As the bark bad sucli good security for the last mentioned 66,000 0000., ibo Mate only paid 2 percent interest. Snbfe'iuenlly the Hate inconod another debt of4 ) CtO.COOfl. tor Bticlu t&aUtcbrine (exchequer bills), which the hark bad withdiswn from circulation. When the rational 1< an was raised the Finance Department so lemnly promised to pny off u cert is n part of Its debt, but we find that the Mate had borrowed 80.000.000H. from the hank since November last. The Slate is now Indebt ed to tie lank k-<0,000,0000. As you are aware, the State will now rede domains to the hunk to the value of 160.0(0 OfOfl.. lut the lutter will no longer have tl.o suit works as security for the above mentioned t.O.CCCH. The Finance* Department has also an nounced that the 2 per cent interest on the 55,000,0000. will no lot gcr be paid, as the bank will receive the ltvenae of Mate don.sins of the value o( 150,000,00011. as soon as the tiansfer of them is made. It appears to he the Intention nt the Finance Department to reduce its debt to the Bank ei'her to 80 000,0000. or to the orig inal sum of CI,000,0000. The Bank is evidently in a heller position than it was in a Cow days since, but still its i hnics have fallen. Among the reasons given for this pfcrnomenon ate the two following:?1. No sale of any part or of the whole of the State domains can be con cluded without the approval of the imperial administra tion. 2. As no intciest will in future be (mid on the 66,000,(000., tbo dividends on the bank shares will bo snaller. In my opinion neither of those reus >n* is satislaotiry. it is natural that the Flnane Depart ment sh< uld watch over the sale of pr. pertv of the Mate, and ate that it is not disposed of f..r Ws tbari its teal value, end it will be strange indeed If the 1'sr.k cann -t manage to get 1 per cent js-r annum out of the -'crru.ii s as long as they remain unsold. fktron Iliuck, ns it appears to me ut least, has done his utmost to lcs'ote pnl lie confidence but the teskles* hnprovld nee and positive dblionesty of tbe Finance Department after the pieat French war. is still well r<membeie-1 liy llie Austrian moneyed wotld. When the expenditure no longt r exceeds "ti c revenue public eonOdenee will he re stored, but certainly not before. Within the last f air or five years tho value "f landed projerty has Inci eased S? me thirty or thirty-fivo per cent, but Ibis lias prlnct 1 ally srlieu frcm Ibe de.-iro felt by all Austrian capital ists to transmute their 5'cate and bank paper into real pioperty. Reliable information has to day boon riven n e that tl e mnt'er of the M. rtg;.ge Bank is settled he iweeu the Uloister of 1- ii-ance and Baton Itothschild. THE FOOD QlTF.eTION IN fiF.t,Oiril. The ilinitmr Mgt puuilsbes the following circular nd drtsiei by the Minuter of the Interior to all the gov - note of piovtr.c*** BMrssKU, 8-cpt. 17. M. IX SocratEl'I?Ihl high price of articles of food I as placed nil nalions, and It. igium in particular, in a situation <nlnmltnun for the people. This situation pro I oily awsl ens the most livtly and constant solicitude of ti laments. To nuet its exigencies it is fitting that all Cigtees <f the administrative hierarchy should 'how 111aosehree rooro active and more intelligent than ever, i r.d shstiM exhibit that 7oal and devofedncss which have distinguished the authorities of Belgium during the vit rli us (i bos wlii< h the country has passed through in the course ol ton years. The stalling |ioint la studying tho wants which are to 'em' i?f!rd is nn exact knowledge of the yield of the har vest this J tar. I bare niioady invited you to transmit to me the fullest Information you can obtain on this lsiint bctiro the lOtli o< October, is; eolaity concerning wheat. *11 It, tye, buckwheat and potatoes. I i cc'mmond yon anew to exercise the most scrupn ioi s taie cs to the exactness of the Indications which von transmit to me, and lu the meanwhile to forward me a general sketch of the agricultural situation of your 1 Yr'u will please, also, at the 'aire time e-rert yourself to di.cover 'he quantity of corn, the remains of the last iiiivc-t which I* still in the hands of the farmers or mer chants.' For this purpose consult the mot experienced men r mnrg the chleis ot the various departments. Neg lect to useftol Information upon this Important matter, and keep me regularly au cwireuit with all that relates ?o An<'her object tor your assiduous care should ho to seek *he most efficacious and practical menus of reme ly ing the privatises and suffeilngs of the workihg classes, jSS w v vrihy of lute. For tHa put poae it wii2 ^ ! jou I iUJd kL*ce your^QL *. -uuiimictttion with the chambers of commerce and Ihe agricultural committees of your province. These, composed of men well acquainted with the moiai and economical situation of the working men amount whom they live, are especially competent to give an opinion on the general measures which should be ro pared or taken at once. These bodice will probably bo able also to give vou useful information respecting the euppliee of food which may be expected from abrcmdto muke up the deficiency of our harvest. They may also exercise a happy influence upon the mod chants and manufacturers, the proprietors and the farmers of their districts, in order to confirm them in their Benevo lent feelings towards the laboring classes, and engage them to assure to the latter the benefit of a salutary pa tronage. In addition to general measures, the adoption of which it may be proper to decree, there are others which by their local character are hotter adapted to particular situations. It in essential that from this time forward you should fix (he attention of the commercial authori ties upon measures suited <o diminish the distresa of the masses, and which have been applied at former epochs not wi bout success, solicit the aid of the clergy, whleh has never (ailed in its mink-try of peace and charity, and the moral ascendancy of which among our working po pulation is so legitimate. The bureaux de bienfaiuanx constitute a most devoted machinery; its aid should be sought with confidence and accepted with gratitude. Where private associations exist, or urty be formed, with a churii&hle aim, it Li proper to facilitate their or faniratiun and encourage their development. The in ervention of proviucial medical commHtess Is also very desirable, and we cannot sufficiently second their efforts to ameliotutc the sanitury condition of our principal centres of industry. The markets should in a special manner engage your attention, and that of the. communal administrations. While combutliDg those prejudices, of which the corn trade is too often the subject, it is proper that yon should watch that no munoeuvre calculated to influence the price of food should bo tolerated, and that sellers, as well us buyers, shall have the fullest security in theee transactions. The high price of produce makes it more than ever * duty ol the administration rigorously to watch over its sale, Irrm the double point of view both of quality and quantity. For the sake of justice and humanity u will be necessary to give every family guarantees against odious adulterations (wliesisex tophulicatiotu), and against fraud in the use of weights and measures. ? 1 still hope. Monsieur, that, shortly, when agricultural produce shall be supplied in greater abundance for con sumption, prices will undergo considerable reduction. It is prudent, bowover, to make preparations for a less satisfactory eventuality. I reckon on your devoted assist ance, and am persuaded that you will neglect nothing to stimulato in your turn tire zeal and activity of ail those whose aid yotTrequire for the accomplishment oi the diffi cult mission which < iro instances impose upon us all. P. DEDECKEK, Minister of tno Interior. BARING BKOTIIKR is CO.'S CIRCULAR. London, Oct. 12?6 P. M. The colonial and (foreign produce markets have been dull throughout the week, nnd prioes in some instances have rather a downward tendency. The minimum Bonk of England rate of di-count continues at 5% per cent, at which rate money has been in great request this week; but the demand has slackened to-day. Consols leave off at 87% a 87% for money, and 87% for the account. Mexican dollars 4s. ll%d. Bar silver 6s. l%d. Ameri can eagles 70s. 2%d. Couth American doubloons 76s. 3d. American stocks remain unsaleable, as may he sup posed in the present state of the money market, and, ex cept, a demand for a small amount of Maryland sterling bonds at 9", we cannot quote buyers for any State stocks. Pennsylvania inscriptions arc offerod at 77; Virginia Sterling 6'a at 80; I uited States 0's, 1862, at 101; Penn sylvania Central Hailioai Bonds, 1st mortg. at 91, 9d m< rtgnge at 81, sterling at 01; New York and Erie at 83; Illinois Central at 71; Michigan Central 8's sterling bonds at 103. HERMAN COX AND CO.'S RETORT. Liverpool, Oct. 12. 1856. "1 ' The advance in the rate of interest by the Bans of Enjp land on the 4th Inst., to 6% per cent, together with the anticipation of a further rise yesterday, had a very unfa vorable influence on our market throughout the week. The amount of cotton offered and pressed for salo seemed greater than ever, and, in many cases, the best offers ob tainable were accepted: buyers bave, consequently, had an advantage of fully "id. on most descriptions or (and particularly poor stapled) American cotton. Sea Islands, Brazil and Egyptian, have participated in the decline, and must be noted %d. to %d. lower. Sorats continued in fair request at )Bd. decline. To-day there is a fair de mand from the trade, with a little more regularity In price. Pales 6.000 hales. t-incc the 14th September, when middling upland waa quoted at 6%d., our market has declined %d. per lb., without leading to any increase in the demand either from spinners or speculators; nor can it be expected, wliilo so much uncertaiuty exists as to the future course of the money market. In Manchester, continued un steadiness and inegiilaiity prevailed. Buyers operated very cautiously, at a comideiablo decline from last week. Ike allied fleets have nppeared in forco bclore Odessa, but no intelligence is to hand announcing the bombard ment. Notbirg new from the Ciimea. Contrary to general expectation, the directors of tho Lank of England passed over yesterday without in creasing their rate of discount to 6 per cent. Unless, however, the efflux of bullion is arrestod, we shall proba bly see the expected advance made next Thursday. Con sols declined yesterday to 86%, but close t?-day 87%, %. A. DEN KIOTO UN AND CO.'S CIRCULAR. Livkrpooi., Oct. 12,1866. 11k general state of tlie money market has been far from rt assuring dutirg the present week. There ha* been, for tbe lirst time, some scarcity of money expe rienced in London, and the demand has been urgent. To some extent this has no doubt been occasioned by the ap prehensions which have g morally prevailed, of a farther advance in the rate of di-connt. The Bank directors ap pear to bave thus atgued; for, notwithstanding a very great demand on them, they yesterday, after a lengthen ed lifting, adjourned without any further action. At length g< id ceases, we are glad to say, to find buyers in tbe open maiket, and much of what is now arriving has to he si nt to tbe Hank. Tmde in all its branches has now begun to feel tho effect of this great preurare, and, though tbe ordeal is n severe one. wo fear that n great contraction in every de part meet is the only safeguard for tbe mercantile com munity in the trying times which are before It. Tbe Mancbester market, continues very fiat, especially for goods suited to the Indian markets. But there (ft now no short time, and as cotton falls in price, we sap pose we shall hear no more of resort being had to that expedient. Consols, which were yesterday as low as 86 %, have ad vanced to day to 88, clusing at 87%. The Vintage In Italy. On the 1st tho electric telegraph between Ferrari Heme wan opened to the public. We read In the /toman Journal of the 2d Inst. Considering the deficiency of the vintage the HolT Father has prohibited (or another year?that la, until Feptemher, 18.W?the exportation of grape*, must, com mon wine- and vinegar, an also crude tartar. The Mi nister of Finance ia charged with the execution of the present decree. G. CARDINAL ANTOVElLI, lit me, r ept. 26. Secretary of State. From Fort Laraade. [From the St. Louis Republican, Oct. 24.] letters hare lieen received in tbia city from Fort Lara mie ua lati a* the ll'th September. They contain some news of interest, and altogether present the condition of things in that quarter as of a belligerent character. Capt. A. P. Howe, 4th Artillery, waa about beiag tried by a military court, of which Col. Hoffman waa Presi dent, charged with di'obedience of orfers, in having failed at the tattle of Due Water to go down the hi if nfUr being dismounted to fight on root, whereby Col. Cooke was deprived of the services oi hia company during the light. Gen. Harney arrived at Fort Laramie on the 17th. The Ffoux Indians, it is said, have commenced war ia earliest, fhey attacked a small party of three men, from Laramie, a few days after the battle of Blue Water. They run eff the government herd from that poet a frw days since, and succeeded in getting thirty animals. Johnron was sent after them, but had to give up the pursuit alter going some "ten miles, his horses (broken down ponies) having given out. Tlie greater part of the animals stolen by the Sioux were afterwards recovered. The seme Indians attacked some express men from Fort I'ierre; they saved tlicm elves and their mail bogs, b> ing on licet horses, but they lost all tho led horses. ?j /.gain?soys the letter?the Sioux Indians last night stole eight mules from some people en routs to tho Stales, encamped near this fort. The ball is now opened, ard we may have, and doubtless will have, work ahead. The 'ndinns any "come They are on White Earth in large numbers, and have sent messages to Gen. Harney to ' con e on with his young men?that they ware ready, and wnn'ed Ida horses?that he had better not oorae further into tbeh country or ho woul l ery." Wharton is at Fort Grr.ttan, at Ash Hollow, but go*-V to Fort Kearney. The chance* for a fight art good, but in my opiob n the Indians will run. Two forts are to be established between Laramie and Fort I'lone. Col. Cooke deserves great praise for his admirable de cision and quickness In tlie battle of IDue Water. It is feared tiie comn .ind will lose all the dragoon horse* this winter?they are now poor. The ponies are doing ad mirably, and stand this country well. Capt. I .oval has returned. He had no tight. At the time he was passing through the country the Indians had not been attacked by Gen. llarncv, nor had they heard of the fight. This war will not cm. In a day, and I predict that more troop* most be ifut out. Gen. Harney ha* enough troops to whip the Indians whenever he meets them, but not uffcient to guard the road and garrison furts. Cady is ta go with Ocn. Harney in command of the hattulion of the tub. Col. Hoffman's health is such as not tc potmit him to go on the campaign. All the officers are well. Woman's Rioijtp -An Equkstbiam Ciullrnge. ?The custom of giving prires at agricultural fairs to lady equestrians, is of 'ate origin, ami we trust has seen its'l eet days. It has now become nothing hotter than crdlnury l.< rs# raring, and is doing much to create mas culine habits in wonir n. At a late fair in Westmoreland county, l a., the contest was between Vis* Matilda F. 1 irking* and Mrs. Bartholomew, and after a prolonged rrbioi'i'n of tbrmsclTM as Jockeys, Miss P. obtained the first pi ire. bracelets; and Mrs. II. tbe second, ear rings. Wfcertnjon Mrs. R. publish** In all thd papers the follow ing A 'II At LEVI IH. f.'Rttssmnn, Oct. 12. 1866. Mrs. B. of Freeport. challenges Miss tickings to meet 1 en ri her here or in I'll t-hurg. at the coming mire, as I can brat you rinlng in or out of saddle, where fair play i* glvrn, and no partiality shown. Vou are requested to tiniu jour hnrre and bring It. If the above proposition will he accepted, you will drop a Hue ia at the Ores as burg post office for publication, and ohltgw E. J BARTHOLOMEW, if this feroala jockey bas no husband, to provide do mestic occupation for her. we hope she may sunagetono. I'o. ta the other lady.?tlueapo 7Vww?, Oct. J4. A locomotive ca tho Michigan Central Railroad ex ploded at Detroit, on the Zlst inst., killing two men, , named Jacob Fleming aad Robert AahJwj.^ _ __