The Express.
London, England, 1855-01-01 00:00:00

sgatons fact that Great Britain, after thirty-ni,
=sof uninterrupted pesos, has resumed the swards
at this moment engaged in one of the
important struggles of modern times--it is highly
ratifying to notice that no serious derangement of
tba monetary or commercial interests of the country
l
hbean produced, whilst the public credit never
eideerd ape. a firmer basis than at the present thaa,
lira national funds, with the exception of a mown.
S depression, attributable almost exclusively to
10111111stivs operations, have ranged throughout the
a level which has Waited general earpries.
It is a remarkable fact that Consols were quoted to-
day only 2 per cent. below the price of the
corresponding period of last year, when war,
though anticipated, was not declared, and
when necessarily none of its expenditure had
been defrayed. In the face of a heavy drain
of specie for extensive purchases of grain for the
support of our large foreign expeditions, and for •
Turkish loan of three millions sterling, money has
continued fully supplied for the purposes of trade;
and though the position of commerce and politics has
enhanced its value, the rate of discount has never
reached a level calculated to seriously check legiti-
mate enterprise. The present stock of coin and bul-
lion in the Bank is returned at 14,137,1041., against
15,832,5991. at the end of last year, showing a
decrease of only 1,716,7951., in spite of the numerous
causes of deduction above referred to. The large
supplies of gold received here during the year from
Australia and America appear, owing to the continued
activity of our general export trade, especially with
Australia, to have been chiefly transmitted to this
country merely en route to those regions whence the
raw material of our increased foreign commerce has
been drown. The export trade of 1854 has fully
maintained the enormous increase of 1853, and has
necessitated an active demand for capital ; but, con-
sidering that we have no longer to meet a heavy
expenditure for corn, hopes may be reasonably
entertained that—apart from the monetary influence
of the war, the extent of which will be dependent
upon the character of the contest itself the
course of the precious metals will be more
in favour of this country in 1835 than during
the year now closing. The financial demands of
government have been supplied without begetting
pressure or interference with the ordinary course of
the money market. It is, however, strongly sig-
nificant of the prosperity of the nation that the
willingsess to bear increased taxation has, so far,
prevented the necessity of a loan for war purpoees.
In fad, the national debt has, on balance, been
rather diminished than increased, for against the
creation of 6,000,0001. Exchequer Bonds must be
placed the extinction of South Sea and other secu-
rities to the amount of upwards of 8,000,0001. The
immediate state of the exchequer is also satisfactory,
all things considered, as the last return of the Bank,
of England shows upwards of six ands half millions
standing to credit of government, despite the present
heavy war expenditure. Should hostilities continue
and loans be required, the market is in a peculiarly
apt position to meet them, without leading to any
senors disturbance of our monetary system or to
apprehensions that capital will be absorbed to ea
extent calculated to restrict the supply necessary for,
the prosperous prosecution of trade. During the long'
peace with which we have been blessed the riches sr
the country have increased in a ratio which defies
calculation, which will cause any amount of money
to be readily furnished in prosecution of the present
contest, the immediate burthen of which will also be
materiallly alleviated by the bountiful harvest
accorded to us. Trade, though less active, is sound,
in spite of over speculation in a few branches.
On the whole we take leave of ,the old year and
enter on the new one with far more of hope than
of apprehension. May these favourable prognosti-
cations be realised!

Although at one period of the day a little flatness
was sh3wn, the English funds to-day generally exhi-
bited steadiness, and the closing quotations were the
same as those of yesterday. Business was very
inanimate.

There was again a very active demand for money
in Lombard-street to-day. This state of things may
perhaps continue till the 4th January, but the
approaching payment of the dividends will tend to
ease the market.

The telegraphic advices from the Vienna bourse
indicate no further change of moment. At Frank-
fort, however, Austrian sto(.1: has risen nearly 11 per
cent. .The Amsterdam bourse also shows an advance
in the leading stocks.
Consols ranged between 911 and 914, and closed
at 911 to lex div. for the 10th January. In the
other classes of government stocks not a single bar-
gain was recorded. The official business report is
thus confined to this one stock, viz. :—Three per
Cent. Consols, for account, 10th Jan., 911, 1,1, ex div.
Exchequer Bills remain quoted 41. to 7s. prem.,
and India Bonds 9s. to 121. prem.
The extreme variation in Consols this week has
been only 1 per cent., the highest price touched
having been 911, and the lowest 911. The price
closed to-day exactly the same as lamb Saturday.
In the foreign stock market busilless was almost
at a standstill, and the only quotable change in
prices wu a slight increase of firmaeas in Dutch
securities. Turkish scrip fully maintains its late ad-
vance. At 3 o'clock Russian Five per
_Cents. were
quoted 97 to 99; ditto Four-and-a-Half per Cents.,
87 to 89. Dutch Two-and-a-Half per Cents., GI to
62; ditto Four per Cent. Certificates, 91 to 92.
Sardinian, 83 to 85. Peruvian Four-and-a-Half
per Cents., 69 to 71. Mexican, 201 to 211. Spanish
Deferred Three per Cents., 181 to Sales are
recorded as follows :—Bnenos Ayres Six per Cents.,
52, 51, 53. Dutch Four per Cent. Certificates, 911.
Mexican Threer Cents., 21. Spanish Passive
Bonds (Converted), 41. Turkish Six per Cent. Scrip
(paid in full), 751; ditto for account, l6th'Jan., 75-,1.
The imports of the precious metals this week have
again been very small, comprising only 100,000/. in
gold from Calcutta by the Tagus, and 5,2301. in
sovereigns, by the Pho3nician from Sydney. The
Custom-house statement also records the arrival of
four cues of specie by the Martaban from Calcutta
and the Cape.
The Custom-house statement of the exports of the
precious metals direct from London during the week
comprises 2,999 ounces of gold, and 202,581 ounces
of silver, representing an aggregate value of about
62,0001. Nearly the whole of these supplies was
despatched to Hamburg. The particulars are an-
nexed, viz.: Gold coin: to the Mauritius, 819 oz.;
to Hamburg, 1,000 oz. Gold bars: to Hamburg,
1,180 oz. Silver coin: to Hamburg, 31,200 oz.
Silver bars: to Belgium, 4,000 oz.; to Hamburg,
167,384 oz.
The only other shipment officially reported consists
of 71,6001. to the Peninsula by the Madrid, which
raises the ascertained shipments of the week to
133,5001. It is known, however, that the shipments
of gold on private account to the continent have
continued, inclusive of some amounts drawn from
the Bank. To-day further parcels were taken from
that institution.
At Amsterdam yesterday (Friday) the exchange
on London was quoted 11.75, short ; at Paris, 24.95,
short; at Hamburg, 13.31; and at Vienna, 12.18.
The Committee of Anglo-Peruvian Bondholders
have called general mating of their coostitoenta