29 NOVEMBER 1873, Page 3

The Bank of England on Thursday reduced its rate of

dis- count from eight to six per cent., and as gold is coming in, it will possibly go lower. The remarkable feature of the " dear-money" crisis this time has been the absence of general panic, and the very small number of failures caused by, the rate of discount. This seems to prove that the trade of the country was in a sound state, and that speculation was not very active, but a good deal of it was also due to the certainty of the public that Mr. Glad-. stone would not misuse the power at his disposal of suspending the Bank Charter Act.