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In less than month find contraction In the issues
OF more than million sterling This contraction is no
doubt produced for the purpose of affecting the rate Of
interest 6od, upon comparing the diff rent depart
ments Of the institution corresponding increase In gov.
ernment securities II no doubt was found impossible 10
keep up the rate of interest with the rst issue under the
new ystem and reduction has submitted to az the
only wsy 70 raise it also appears from the above ex
tract that some movement il in contemplation by the
bank that may lead to revolution commercial matters
The only preventive against any great expansion or con
traction in the operations Of the Bank Of England is the
frequent reports the new system requires The necessity
Of making these reports may the Of
he bank butthe publicity given them enables every one
prepare for any result the bank may be disposed to
produce and from this fact cannot anticipate any
thing likely to occur OF very alarming nature. The
Bsnk Of England has, the operations Of this law be
come dvesed Of great portion Of its power the COM
mercial interests it yet create fluctuations in the
money market but it cannot do without giving suf
cent warning enable those interested to govern them
selves accordingly.