On comparing the above with the fixed issues of the several banks, the following is the state of the circulation :-The English private banks are below their fixed issue £983,059, the English joint stock banks are below their fixed issue £231,342 -total below fixed issue in England £1,214,401. The Scotch banks are above their fixed issue £1,288,212; the Irish banks are below their fixed issue £702,053. The average stock of bullion held by the Bank of England, in both departments, during the month ending the 27th April was £13,002,060, being a decrease of £1,108,953 as compared with the previous month, and a decrease of £2,230,119 when compared with the same period last year. The following are the amounts of specie held by the Scotch and Irish banks during the month ending the 30th of April-Gold and silver held by the Scotch banks £2,373,390; gold and sil ver held by the Irish banks £1,869,319; total, £4,242,709; being a decrease of £16,488 as compared with the previous return, and a decrease of £27,474 when compared with the corresponding period last year. The advance in the rate of interest in England early in May, caused, of course; borrowing at a lower rate on the continent for London account, and the Bank of France felt the demand in addition to its own rates, and it put the interest up to eight per cent. The re-action came as speedily, however, and it reduced its rates May 21 to seven per cent, and May 28 to six per cent. Its returns are as follows: The Bank of France is, thenceforth, to make weekly returns, like those of the Bank of England. GOLD BILL.-OFFICIAL COPY. THE following is an official copy of the Gold Bill passed at the first session of the thirty-eighth Congress, and approved June 17, 1864: [PUBLIC--NO. 104.] AN ACT TO PROHIBIT CERTAIN SALES OF GOLD AND FOREIGN EXCHANGE. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That it shall be unlawful to make any contract for the purchase or sale and delivery of any gold coin or bullion to be delivered on any day subsequent to the day of making such contract, or for the payment of any sum, either fixed or contingent, in default of the delivery of any gold coin or bullion, er to make such contract upon any other terms than the actual delivery of such gold coin or bullion, and the payment in full of the agreed price thereof, on the day on which such contract is made, in United States notes or national currency, and not otherwise; or to make any contract for the purchase or sale and delivery of any foreign exchange to be delivered at any time beyond ten days subsequent to the making of such contract; or for the payment of any sum, either fixed or contingent, in default of the delivery of any foreign exchange, or upon any other terms than the actual delivery of such foreign exchange within ten days from the making of such contract, and the immediate payment in full of the agreed price thereof on the day of delivery in United States notes or national currency; or to make any contract whatever for the sale and delivery of any gold coin or bullion of which the person making such contract shall not, at the time of making the same, be in actual possession. And it shall be unlawful to make any loan of money or currency not being in coin to be repaid in coin or bullion, or to make any loan of coin or bullion to be repaid in money or currency other than coin. SEC. 2. And be it further enacted, That it shall be further unlawful for any banker, broker, or other person, to make any purchase or sale of any gold coin or bullion, or of any foreign exchange, or any contract for any such purchase or sale, at any other place than the ordinary place of business of either the seller or purchaser, owned or hired and occupied by him. individually, or by a partnership of which he is a member. SEC. 3. And be it further enacted, That all contracts made in violation of this act shall be absolutely void. SEC. 4. And be it further enacted, That any person who shall violate any provisions of this act shall be held guilty of a misdemeanor, and, on conviction thereof be fined in any sum not less than one thousand dollars, nor more than ten thousand dollars, or be imprisoned for a period not less than three months nor longer than one year, or both, at the discretion of the court, and shall likewise be subject to a penalty of one thousand dollars for each offence. SEC. 5. And be it further enacted, That the penalties imposed by the fourth section of this act may be recovered in an action at law in any court of record of the United States, or any court of competent jurisdiction, which action may be brought in the name of the United States by any person who will sue for said penalty, one half for the use of the United States, and the other half for the use of the person bringing such action. And the recovery and satisfaction of a judgment in any such action shall be a bar to the imposition of any fine for the same offence in any prosecution instituted subsequent to the recovery of such judgment, but shall not be a bar to the infliction of punishment by imprisonment, as provided by said fourth section. SEC. 6. And be it further enacted, That all acts and parts of acts inconsistent with the provisions of this act are hereby repealed. Approved June 17, 1864. 1. THE EX-SECRETARY OF THE TREASURY AND HIS SUCCESSOR.. PAGE 17 IL THE NEW EMPIRE OF MEXICO. BY A. K. SHEPHARD............ 20 30 V. OFFICIAL STATEMENT OF THE PUBLIC DEBT OF THE U. S., JUNE 14, 1864...... 30 VL COMMERCIAL CHRONICLE AND REVIEW..... 88 VII. THE NEW TARIFF. 47 JOURNAL OF BANKING, CURRENCY, AND FINANCE. The New National Bank Law, a Great Improvement on the Old Law. 87 Circulars from the Currency Bureau respecting the Redemption of National Bank Notes, and the Transfer of United States Bonds...... 91 |