The Express.
London, England, 1855-10-06 00:00:00

whole of this triuunitioq cons time terminated within
the last three weeks. The entire sum of 1,600,0001.
payable to Messrs. Raphael for this gold was defrayed,
we are inforined,by short bills on London, representing
bona fide transactions at maturity, including bank
post bills and bask notes, together with some remit-
tances in silver. In 'feat, the whole of this operation
seems to have been carried out without accommoda-
tion paper of any description; and the real position
of the matter would appear to be that advantage was
taken of every available debt due in the course of
trade from England to France to facilitate the with-
drawal of the 1,600,0001. in gold from this counfey.
It was chiefly with reference to these circumstances
that we cautioned the public not to rely upon the
reflex of this gold. The mooed contract was for
78,000,000 f., or about 3,000,0001., and was also
teed to Messrs. Raphael and Sons,
who, however, having regard to the tighten-
kg tendency of the money market, respect-
fully declined it. The contract for We
sum was then aooepted by another of the principal
monetary firms of Landon, and is now in course of
execution. We believe the price at which the wand
contract was taken is 10s. premium per mike,*
1,000 fuses. The premium paid by the Bask se
Frame is thus calculated to be at the rate of about
1 per cent.
Yesterday's rise in the Bank of England rate of •
dimwit seems to have produced very little effect on
the money market. Little or no business is
done below the Bank minimum of 51 peg
cent.; bat, although great caution continues to
be evinced, money cannot be reported tight,
the supply being abundant. In the absence
of distrust considerable eagerness is shown to
plume money with the disoonnt houses and banks at
the high rates now allowed. The Lombard-street
discount houses notified tc-day that they will allow
41 per cent. "at call." This calm attitude of the
market at the present moment is highly satisfactory,
as it tends to show that the aim of the Bank dine.
tore, in attempting to check the drain of gold, is
duly recognised, and that no disposition exists in
mercantile circles to give way to needless alarm.
'Le hope is thus strengthened that we shall be ena-
bled, without inflicting serious injury on trade, to
impose an efficient check upon the adverse bullion
movement until relief shall be derived from the en.
peoted arrivals of Australian gold. Howsoever indif-
ferent the Bank of France may hitherto have seemed
to the immediate loss aooruing from its purchases of
gold here, it is evident that such cannot be endured
beyond a certain limit, and our beet means of attain-
ing this point evidently lies in a rise in the value of
' money in this market. It must be remembered,
however, that the step so tardily adopted yesteedey
by the Bank of Franca in raising their rate of dis-
count from 4 to 5 per cent., has a tendency to conn.,
tenet the defensive policy adopted by the Bank at
England, and thus it may ultimately conduce to the
maintenance of steadiness in our market, if the coin■
menial community will accustom themselves to re-
gard a further rise in the rate of discount as not
improbable, in the event of the last advance not,
proving sufficient.
The English funds opened this morning with as
improved appearance, and a recovery of 1 to 1 pot
cent. was at one period attained, owing to continued'
investments on account of the public, coupled witat:•
further purchases in realisation of profits by sposalep
tors for a fall. Later in the day, however, there Obi
a renewal of sales, and the closing quotations were •
shade worse than those of yesterday, and only / pea,
ant. above the lowest point yet touched. To-dare
fall at Paris assisted the decline.
At Paris today, following the rise in the Bank of
France rate of discount, the Three per Cent. Rentes ex•
perienoed a further heavy hell, closing # to 1 per cent.
lower than yesterday, seeking a total reduction of 1.
tq 11 per cent. in three dsys. The simultaneous an.
enlacement made by the French Bank, that they will
. not discount bills having mare than 75 days to
regarded as decidedly indicative of a tighter money
market there.
,Consols, which closed yesterday et 871, touched
this morning 87f, but had receded at the close of the
Stock Exchange to 871 to 1,, for money and the 12tH
*at. Money continues easy in the Stock Exchange,
at about 31 per cent. on government steatitic •
official business report is as follows :—Three per Cent.
,Consok, for money, 871,1, 1,1; ditto, for acsoant,
12th October, 871, 1,1, I. India Stook, 226. Bank
Stock, for aoooont, 218, 218. Threo-and-a-Half per
Coot. Exchequer Bonds, falling payable in 1864
981, 981; ditto, in 1869, 981, 981.
Exchequer Bills remain at their reduoed quotation
of ss. to 2s. discount. The New Thirty Tears Annui-
ties, expiring in 1885, may be quoted 161 to lex
div.
In the foreign stock market speculation cattlinuse
chiefly turned to Turkish securities. The Six per
Ceuta. showed a sensible recovery in the morning,
being marked as high as 841, but the pries had re.
oeded at the close to 831 to 1, or only about 1 per
rant. better than the final range of yesterday. The
scrip of the New Four per Cent. Goaraoteecl Loan
remains flat, and closed at 21 to 21 discount. Peru.
vian Four-and-a-Holt p* Cents. were quoted 1 per
cent, lower. The scrip of the new French loan her
fallen to par to 1 prem.
The foreign exobanges this afternoon showed great
firmness, and in several cases, including Hamburg
and Amsterdam, a further improvement was °beery.
able. The rates on Vienna and Trieste were also •
rather higher. The current quondam are annexoli
viz.:—On Paris, at short, 25.321 to 371; ditto, three
months, 26.65 to 70; on Amsterdam, short, 11.18 to
; ditto, three months, 12.01 to 1; Hamburg, 1&91
to 1; Frankfort, 1191 to 1; Vienna, 11.28 to 32; and
Trieste, 11.30 to 34.

LONDON COURBB OF IXCHANGD.-Ocr. 6.
Priem as amodated this day.
Time. Bills .04 Y. limey.
Amsterdam per s 1 Maks 111 Ostv. .„ 121 Itsty.
Ditto
Rotterdam „ IYoralsllo. Mts. 121 Oistr.
Aatmep „ Mfr. ... 11611. tar%
Mfr. 66e... lOW.
lisabergsadAltom ~ 911thL. iliam. 54,00.
Petenkorg pr.; nails ... -
Pads ..... ...... lad SKr. sea. ..9fh.404. •
3 Youths I*. 666 26tr.
Mr. liSe. UR. 700.
trealthrt.cmtbaMai:s per 410 119/1 kr. - 11941 kr.
Vim (.bells) per S IIL 14kr. - 110. 29kr.
" 118. MM. 118. SOM.
... Pr. &Our „ 491 smies 49 PM*
Mai
80te0...... , 44 mess 4 passe
11srm4ssa „ 40 mem .. 4 pram
„ 501 mime ... SO moos •
SO moss ... 4111 pulse
aibreltsr „ „ S 4 moms 491 pease
„ MM. Ma. - Ma. Os.
Jesse -331 r. 16e.
timies par:oat • 44 pass ... 431 Rah
=mt *---g4":" • 111 pum
1131
811 "a"
so days ;ate 11111 mass .. SS pp
ees
pure 031 pesos
New Usk . AO days den 46 mass - 471 prase
Itielmetro -.- 6O days sight 211 peace ... 24 prate