8 NOVEMBER 1873, Page 3

The Bank on Friday raised its rate of discount to

9' per cent., and ten is being paid in open market. It is believed that the rapid failures going on in America will lead to considerable drafts from this country, and that the Bank is taking the most stringent Trecautions. The City is exhibiting more sense than usual, and traders are bearing their losses well ; but the next rise may be followed by a panic, and the quicker Mr. Gladstone is in London the better. It is nothing but the complete confidence entertained in him which has staved off the trouble already, and if any one big house were to go, the City would be besieged.