The Express.
London, England, 1855-04-23 00:00:00

ISo vigiziailei
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DLmigeliti
Ili Ilas li ON
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MONEY MARKET.

ItA:v..I)AT Evict:we.
The announcement of the budget, and the enormous
expenditure therein indicated, caused the English
funds to open this morning at a decline of about i per
cent. As the day drew on, however, a rally set in,
aided by the statement from Vienna that Lord John
Russell's departure has been again postponed, and
that the conferences are still continued. Prices

finally closed with firmness, and per cent. higher I
than yesterday. The Chancellor of the Exchequer's
financial statement has thus not exercised any per-
manently depressing influence upon the stock
market. Of the reception which the budget is likely
to receive from the various interests of the empire
it would be premature at the present moment to
speak positively, but in view of Sir G. C. Lewis's
very recent accession to office, there; ie a disposition
to make all reasonable allowance for the difficulties
of his position. Of his various proposals for adding
to taxation, the imposition of a penny stamp upon
all bankers' cheques has probably engliged most dis-
cussion today, and in many quarters an opinion is
expressed that the operation of this measure will be
injurious, as tending to restrict the freedom of com-
mercial transactions. Amongst other objections it is
urged that any discouragement of the use of bankers'
cheques is calculated to exercise a certain effect upon
the money market, by leading to diminished economy
in the use of notes and coin, as many parties
may be induced to make small payments in the cir-
culating medium, instead of by cheques. Were the
proposed impost ;larger in amount, this argument
would be invested with additional force, but oppo-
nents of the new regulation contend that the sum
(200,00 W.) estimated to be annually derivable from it
is scarcely an equivalent for the inconvenience to
which it will give rise. _ _

The a omninm" of the new loan was sold is low as

per cent. prem. this morning, following the decline
in Consols; but the closing quotation was 11 to 1!
prem. The newly created 30 years annuities
were negotiated at 161, but the market for this secu-
rity continues unsettled. It is noticed that the
addition of 1 per cent. to the income tax is estimated
to be eqivalent to a reduction of / per cent. in the
value of this annuity, as compared with Consols, and
there is some disposition to complain that the pro-
posed addition to the tax was not made known by
the Chancellor when he brought forward his loan
ilproposals. _ _ _

In the foreign stock market the only movement
was in Turkish, which was first marked 741, but had
risen at the close to 76 to f, being about I per oent.
higher than the final quotation of yesterday.
The only alteration in prices today in Mincing-
lane arising from the increase of the duties on sugar,
has been to advance the price of refined sugar 2s. to
2s. ad. per cwt., but this does not govern other de-
scriptions of sugar, the effect on which will not be
discovered until the public market opens on Tuesday
next. _ _ .

The tea trade was taken by surprise by the increase
of the duty, and there has not been any business
done in the article to-day, but it has been the subject
of remark that the /acre t must have transpired to
some favoured individuals, as duties were paid yester-
day on some large parcels.
The imports of the precious metals this week have
been considerable. Our list includes the undermen-
tioned sums, viz.: 18,337 ounces of gold by the
Statesman, from Port Phillip; 155,000/. by the La
Plats, from the West Indies, Isthmus, Ito.: and
1,500,000 dollars by the Atlantic, from New York.
The total value of these arrivals may be stated at
about 628,0001.
The Custom-house statement of the exports of the
precious metals direct from London during the week
includes only 60 ounces of gold, despatched to Ham-
burg, and 173,200 ounces of silver, representing an
aggregate value of about 43,5001. The destina-
tion of this silver is shown below, namely :
Silver bars : To Hamburg, 5,600 ounces; to Belgium,
14,000 ounces. Silver coin: To Calais, 34,000
ounces; to Bombay, 23,600 ounces; to Hamburg,
87,000 ounces ; and to Gibraltar, 9,000 ounces. The
exports from the outporta have included 125,9661. (of
which 9,6201. was in gold and the rest silver) by the
Ermine, for Alexandria and the East ; 29,3001. by the
Madrid, for the Peninsula ; and 6,5001. by the Tyne,
for the West Indies.
The total ascertained shipments of the week are
thus raised to about 205,0001, of which five-sixths
consist of silver.
The Admiralty will receive tenders on the 15th of
May for the supply of 3,665 loads of English elm
timber.
Tenders will also be received by the Admiralty on
the 26th instant for the conveyance, from the River
Thames, to Ceylon, and thence to Hong Kong, of a
company of Artillery of the following strength, viz.:
—From the River Thames to Ceylon about 90 meu,
with officers, &c., and from thence to Hong Kong
about 60 men, with officers, &c.
The annexed statement of the railway calls ascer-
tained to fall due in May, is extracted from Mr.
Slaughter's Weekly Railway Share List :
Amount per sham.
Doe Alresdy Nuattser
Date. pas. °iVci shams.
May, 1853.
*Arta sad Tim l7j 010 0 23,500 11,340
.131.ftniftpLfelarala........ air"' 19 13 3• • 40,000 80,000
Cat latfillia, Pralr. 14 4 10 0 7,650 7,880
•Zirtinstriooei, 1 91 30 0 125,000 813,000
.11a _