"Ten per cent." has at last ceased to frighten traders,-
the Directors of the Bank having announced on Thursday a reduction to a per cent. If they would now induce Mr. Disraeli formally to withdraw the letter authorizing them to break the Act of 1844 -confidence would rapidly revive on the Continent, and some por- tion at least of the immense surplus hoard in the Bank of France would be -sure to find its way over. What we fear most is that Lord Stanley should be induced to write a reassuring circular to the chancelleries abroad. He would be sure to write it cautiously, and foreign publics, taught by bitter experience, always read official assurances, and especially cautious assurances, with a con- viction that they are intended to break some approaching disaster.