Excerpt from The Speaker, Vol. 4: A Review of Politics, Letters, Science, and the Arts; July 18, 1891 During the week ended Wednesday night, some what over in gold were taken out of the Bank of England, chiefly for Russia. A considerable amount also was withdrawn for Holland and Germany, and more will go. It is probable likewise that before long a strong demand for the United States will spring up, and as soon as harvesting begins, coin will flow out to the Provinces. Naturally, therefore, there has been a ...
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Excerpt from The Speaker, Vol. 4: A Review of Politics, Letters, Science, and the Arts; July 18, 1891 During the week ended Wednesday night, some what over in gold were taken out of the Bank of England, chiefly for Russia. A considerable amount also was withdrawn for Holland and Germany, and more will go. It is probable likewise that before long a strong demand for the United States will spring up, and as soon as harvesting begins, coin will flow out to the Provinces. Naturally, therefore, there has been a considerable rise in the rate of discount in the open market. At one time last week it was as low as g per cent. N ow it has advanced to g per cent., and in some cases as much as 12 per cent. Is charged. If gold continues to be withdrawn from the Bank Of England, as now seems probable, there will be a further advance. There has, too, during the week been some revival of. Alarmist rumours, which, however, appear to be entirely unfounded. It was said that the messrs. Murrieta were again in difficulties. That is in credible, as it is only the other day that they received the assistance which they required. There was also a report that the English Bank of the River Plate intended making a call upon its share holders in consequence Of losses, but the report is contradicted by the Managing Director. But while the rate Of discount in the Open market has recovered so rapidly, the rate of interest for short loans remains exceedingly low. The speculation in silver has not made much progress. There is still a belief in some quarters that we shall see a rapid rise, partly because Of speculative Operations in the United States, and partly because of buying by the Bank of Spain. But it is exceedingly doubtful whether the belief will be realised. The present is not a favourable time for large speculative Opera tions Of any kind, and there is so much Opposition in the United States to further silver legislation that the efforts of speculators there will probably be defeated. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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