The Press.
London, England, 1853-10-22 00:00:00

Plal Cad at anb City

FlapAy En.NiNo.
Tin funds have continued very depressed during the
week, notwithstanding the continued purchases on
the part of the public.
Stock continues scarce, and, as a matter of course,
the Bank of England, bankers, and capitalists lend
their stock to the jobbers, for which they receive a
premium, and lend on call at 4 per cent., or discount
bills at 5.

The effect of the purchaites on the part of the
public are neutralised by these operations, and
therefore speculative sales have the effect of
depressing the market ; added to which we have no
dottbt. the Lank have Ineu selling Excheluvr Lills

597

ou (immanent recount, and thereby gradually pre-
paring Am& for the payment of the South Sea dis-
sentients in January next.
Money is very abundant in the Stock Exchange,
there bein►t scarcely any demand for it, and out of
doors it 1. decidedly more plentiful. We can vons'h
for large ipuintities of bills having been discounted
Ili Ai per veld.; the bankers are full of money, and
the discount houses in lAanbaril street have paid .btr
large sums lett on eall, not being able to employ
them.

Nevertheless high rates are being charged on
corn and Australian paper. ►aul ois evident that the
mallow( Caution is being exervised in the moneyed
world, and we believe them never was a 'saunter
state of affairs.

'llie state of the weather, and the apprehensions
a a scarcity of food, which is grelltl) ItgintlN Steil by
the iineertainty as to 'wave lwing maintained, keep
the market that. added to which the clielltilige.S re-
main unlavtatrahle ; long as gold is exported
on balmier the Money Market will continue in g
feverish and tinsatistaetory state.
We cannot too often, and too seriously, itupre►la Ott
the tioveniment and the mercantile wort,' how ne-
cessary it is to alter the provisions of the Batik
Charter Act, which is a fur weather act, unit cannot
work in times of difficulty.
flitetitations in the funds have been very in.
eonsitlerable during the week. The highest price of
eons, Is hits been 111 1, mid the lowest lift FA
chequer Bills continue at 4s. to Ms, premium.
Very genenil despondency exists as regents tho
various gold companies once so lunch iu favour with
the public; and great eomplaints aro made of the
paucity of information afforded to the shareliohleis
not only as regards their lirottperts, hut as to the
actual position of their accounts. It is touch to be
regretted that the shareholder+ 111/ not take more
active measures for the protection 14 their own in-
terests. and that the laws regulating
are sti miserably defective in their work
ing that shareholders have but little power us against
the slireetorit. Coming events will fore,. this *abject
1111 the attention of the Legislature during the next

FoIll.:14;N FUNDS.
The transactions in hireian funds are very limited,
and will continue so until the question of peace or
%lir is decided.

Is would be utterly impossible, its the present Iltate
of the Money Market, for any foreign power to raigtl
it loan ; and therefore we give no ,reele•uee to rumours
of loutim fo•r Austria and lttess,ia. We understand the
latter "sovier is trying the eontinental markets, but,
for the sake of the 'settee of the world, we hope with-
out sueeess.
It is very probable that the next packet from
Mexico will bring In ws of importance for the bond-
holders. 'Alexieo is in that position that, fortunately
for the bondholders, she will be compelled to Lek
honeht ; and we should not he surprised to hear that.
a national bank will be establislad, which ',mild
farm the revenues and guarantee the bondholders
their dividend.