Weekly Chronicle in London, Middlesex

Bank of England to discount American drafts to ease commerce

The article notes the Bank of England may discount paid American drafts with good endorsement, offering £100 for £100 at five percent for three months. It discusses cautious optimism, fluctuating discounts, and widespread capital caution as wool prices decline and praise for liberal move. It mentions wool depreciation in Australia, silent silk markets, and mixed European sugar depots with uneven distribution across Antwerp Trieste and Rotterdam.