The Express.
London, England, 1852-03-17 00:00:00

MONEY MARKET.

TraIDAY ErININO.
The Consol market was extremely firm to-day, the
abundance of money having a more perceptible
effect now that hopes are becoming more generally
entertained that the government will shrank from
paralysing the commerce of the country by any at-
tempt at a reversal of our oruccessful free-trade policy.
The aspect of French affairs is also considered more
satisfactory, the engagement of the nation in public
works of magnitude and measures of industrial
amelioration, being regarded tie a security against
the indulgence of any policy antagonistic to
a friendly state of international relations. Con-
sols were dealt in as high as 981, and
left off quoted 98 to 1 for money, and 981 to 1
for the 13th April, being a rise of 4 to 1 per cent. on
pesterday's prices. The figures officially marked are :
--Osseo's, for money, 98, 981, 981, 98 ; ditto, for ac-
count, 981, I. No other stock was dealt in.
Exchequer Bills were firm at yesterday's range of
83s. to 68s. prem. India Bonds were also unchanged
at 735. to 765. prem.
In the foreign house the settlement of the account,
for which this was pay-day, formed the chief feature
of liminess; but a good many other transactions
were entered into, and generally prices show a de-
sidedly upward teadenity. Beams Ayres Bemis
were in demand, and marked from 63 to 71.
The rapid advance of this stock front 38, at
which it stood on Friday last, is of course owing
to the intelligence of the overthrow of the Dictator
lona Strong hopes are entertained that the re-ar-
n
nt of the affairs of the republic will lead to a
seititreement of the claims of the foreign creditors so
long shamefully neglected, and in all quarters
it is admitted that the downfall of the dictator
is identical with the removal of the chief impediment
to the development of the vast trade of the River
I Ptah The reduction of the large military force so
Iseg maintained, and the increase in the Customs
duties consequent upon the stimulus that will pro-
bably be given to commerce, will, it is anticipated,
place the finances of the republic in a much more
lavourable position, and afford greater prospect of
mown when the bondholders' claims arc next vigo-
rowdy reeled upon the attention of the government.
The nee, however, would be worthy of mone
attention if the market were wider. The amount of
stock afloat is so small that the market :may be said
to be almost entirely in the hands of two or three
persons.
Ecuador Bonds were a good deal flatter, notwith-
standing the decision come to at the meeting yester-
day to send out a commissioner to treat with the go-
' vernment for grsnts of land presumed to contain
minerals, the royalty front which is to be appropriated
te the payment of the interest on the bonds. A cm-
!Witte° has been formed to carry out the measure, to
defray the expenses of which a subscription of Is. per
1001. stock is stated to be required. Spanish, Dutch,
Venezuelan, and Granadan Bonds were all firmer.
The list of actual tiausactions is as follows:—Buenos
Ayres Six per Cents., 68, 69, 1; ditto for account,
31st March, 66, 65, 68,67, 71, 69. Dutch Two-and-
a-Half per Cents., 611, 61 • ditto, Four per Cent.
Certificates, 93, 96. Ecuador Bonds, 41, t, i•
Granada One-and-a-Half per Cents., ex Dec.,
1849, Coupon, 231 ; ditto, Deferred, 101, 1,
Maxima Thar per Cents., 321, 1, 1. Peruvian
Deferred, 56. Russian Five per Cents., 1131. Sar-
dinian Five per Cents., 92j, 1, 93 ; ditto for account,
9111, 93, 1. Spanish Active., 251 ; ditto Passive,
1441 ditto New Deferred Three per Cents., 191, 1, k;
ditto Spanish Committee's Certif. of Coupon not
funded, 21 per cent. Venezuela Three-and-a-Quarter
per Cents., 43, 421, 43; ditto for account, 421,43,
421 ; ditto Deferred, 171, L.
The Chilian sinking fund continues in operation.
Notice has been issued of the redemption of 63 bonds
amounting to 4,5911., of the Three per Cent. loan ;
and 114 bonds, represent' ng 11,7471. of the Six per
Cent. loan. The Floe of these Six per Cent. Bonds
is kept down by this operation, as the bonds are
drawn by lots, and are payable at par; otherwise,
from the small amount of the loan, and the regu-
larity with which the interest has been
*a. the stock might stand at a much
figure in the market. The amount
sealable for the operations of the sinking
fund is increasing every year, so that it will not be
hug ere the debt is entirely extinguished, especially
it the government, as is probable, should consider
it advisable to appropriate further sums to the
irAxieconvenion of the French Five per Cent.
Rentes has again formed the subject of much con-
vention to-day. Some parties are disposed to doubt
the ability of the President to carry through a pro-
Jed which the ministry of Louis Philippe was not ,
Mierageoue enough to attempt, even when govern- '
sent credit was Each that the price of the Fives
stood 18 or 20 per cent. higher than at prevent :
but it is urged on the other hand, that the pre.
sent administration wields powers far more weighty
that twee enjoyed on former occasions when the
opeeliss of conversion was mooted, and thus the
opinion here is certainly in favour of the
ef the plan ander present:circumstances.
It b known that the proceedings of the goo
veremet are backed by the influence of some of the
=saw
leading capitalists whose support is almost certain to
carry the measure to a satisfactory conclusion. That
such will be the result may also be gathered front
the extraordinary advance of 10 per cent. reported es
having occurred on the Paris Bourse, where the prim
of the Four-and-a-Half per Cent. stock has risen to 1
above par. When it is considered that the saving
caused by the reduction of interest amounts to nearly
three quarters of a million sterling per annum, it
will be seen that the President has the strongest in-
ducements to employ vigorously the vast means at
his disposal. At the same time it is expected that a
great.mass of capital will become diverted into new
channels, and hence the extraordinary rise in French
railway shares, in which there have been most exten-
sive transactions both here and at Paris.

The business in the market fur foreign exchanges
to day was not extensive, nor did the rates vary
considerably from those of last post. Paris was a
shade higher, short being done at 23.33 to 373, and
throe months at 23.60 to 33 ; but on several other
places, owing to bills being in demand, quotations
were in favour of milers. Amsterdam maintained its
previous pries of 12.01 to 3, whilst Hamburg, being
much inquired for, declined to 13.103 to 3. Frank-
fort closed at 1213 to 122, although the exchange
from the other side was very high. Naples foind
many buyers, and was negotiated at 401 to 41.
Billion Italy were generally in demand, as were
also drafts on Lisbon and other Portuguese places,
for which 631 to 3 was paid. On Vienna and Trieste
little paper was offered, and a few transactions oc-
curred at 12.36 to 40 for the former, and 12.40 to 43
for the latter.

There is scarcely any business doing in the bullion
market, which is quite bare. The arrival of the
West Indian and Mexican mail, now overdue, will
quickly be followed by that of the other West India
packet, so that the supplies shortly to come forward
will be unusually large. The Cambria, just arrived
at Liverpool from New York, has brought only the
trifling amount of 6,000 dole.; a circumstance doubt-
less owing to the reduced rate now given by the
Bank of England for American eagles, and to the
absence of any rise in the exchange such as would
render shipments from the other side pi ofltable.
At Paris a general rise has taken place in the prices
of gold specie and bullion. The present quotations
of that market are as follows :—Bar gold, 1; to 2 per
mile perm Louis d'ors, 4 to 5 per mile prem. ;
piecis of 20f. and 40f,, par; bar silver, 9 to 10 per
mile prem.; Spanish doubloons, 85f. 30c. to s6r. ;
patriot ditto, 834 to 83f. 23e.; English sovereigns,
23f. 30e. to 33e.; Hutch ducats, I If. 63e. to 73e. ;
Spanish pillar dollars, 61. 41k. to 43e.; American
half eagles, 23f. 90c. to 26f. The exchange on Lon-
don remains steady tit 26.33.

Increased facilthea for the reduction of French
measures and money to their equivalent in English
ate afforded by a valuable series of calculations now