Ca. state:—
The Bank of England gold reserve against its note issue on the 18th instant, amounted to £126,406,390, as compared with £126,983,985 on. the previous Wednesday. A fair proportion of the moderate amount of gold on offer this week has been taken for India.
The discount rate of the Imperial Bank of India was reduced on the 19th instant from 7 to 6 per cent, The National City Bank of New York Bulletin thus refers to the gold embarrassment of the United States:
"The movement of gold itself in our relations with the rest of Grent "Britain has made. pay debt in the last twelve joubtlcss yield a balance Siainst us, but not large enough to Keep gold from coming: That this un-Valanced situation, with gold flowing from where it is needed to where It of needed, will Continue indefinitely ebedy balers, Gut it cane soared only. bya. change' ta relative price {Eis from oe erhabalae lance agataet us or vine fereased pureheses" of' fefelen sccortfies in the Ualted Statens Te will be noted that the Bulletin of the opinion that international Toans by the United" States would be, as we have pointed out in forner letters, the readiest solution of the impasse. As regards the other alternative, we fear that, even if the the United States rose, the existence of 0 strong tariff wall might check that freedom of imports which otherwise. would tend to reverse the balance of trade and stop the influx of gold.
We append figures relating to Indian trade (private account) for! May (in lakhs of rupees):—
Experts Imports Merchoncive 200 2060 Silver 4 4 Net Exports Net Imports Merchandise 88 Total Net Exporte $14
Text read from the printed page and cleaned; old type leaves the occasional error.