The Press.
London, England, 1858-02-27 00:00:00

forth after each of her morceux, and some of them
were even interrupted by the clapping of hands. At
the end she was called for unanimously, and received
an ovation rarely witnessed in a concert room.

foneg Vida anb Citg

FRIDAY F.YENINci.
NOTWITINTLNDING the vaticinations of all the prophets of
evil consequent upon the defeat of Lord Palmerston, and
the accession to power of Lord Derby, the Money Market
has been singularly calm and undisturbed by the change.
The supplies have not tightened, nor has there been a bit
the less anxiety on the part of capitalists to get out their
reserves upon the best terms they could obtain. In fit,
there is a more obvious disposition to make advances at
the market rate now than there was immediately after
Lord Palmerston's defeat, and for long periods too,
because, it is argued, Lord Derby can be relied upon for
the steady maintenance of the honour and the interests of
the country, whilst under Lord Palmerston the policy was
to rail and bluster, to make patriotic professions by fits
and starts, and thus to create timidity and alarm at
moments when such feelings bad apparently the least
grounds for being excited. Lord Derby's Administration
has from the first been regarded with respect, and, as its
various members have been successively named, there has
been an appreciable degree of abatement of that sensitive-
ness which is natural to men who have a great stake in
commercial and financial stability, until, at the present
moment, it is an absolute fact that it is a really popular
Government with all the substantial interests of the coun-
try. Certainly no regret whatever is expressed or felt at
Ono loss of Lord Palmerston, and it is the universal desire
that political animosity should be so far discouraged as to
afford Lord Derby, what he has never before had, the
opportunity of a fair and a full trial.
The value of money during the week has not exceeded
two and a quarter per cent. On the best bills it has only
been two per cent. The supplies are very large. At the
Bank the minimum continues at three per cent., and as
the rates are an much lower in the open market, very few
blls are sent there. It was thought that a reduction to
two and a half per cent, would be made yesterday, espe-
cially as the condition of the Bank is quite strong enough
to justify such a measure ; but it was delayed, probably
from the state of the continental exchanges continuing
to show a profit on sending gold there instead of bills, and
possibly from a desire ,to restrain any rising tendencies
to undue speculation.
The supplies of gold this week have proceeded nearly
exclusively from the United States,and they have amounted
to about 300,0001. About 150,0001. altogether has been
taken for the Continent, principally out of the market,
but the demand has been enough to cause a small with-
drawal from the Bank. Silver to the amount of 213,4001.
has been sent to India, and the price is now firm at ss. lid.
to ss. 2d. for bars. Appended to the Board of Trade tables
for the month ending Jan. 31 is a statement of the import
and export of the precious metals during that period.
The total imports were 4,182,2901., of which 3,579,287/.
were in gold; and the total exports 9b3,59-1.1., showing a
very large balance in favour of this country.
Perhaps upon the occasion of no previous change in the
Government, certainly at no change complicated with ugly
misunderstandings abroad, was there leas bond-fide fluctus-
tion in the value of public securities than upon the transfer
of political power from Lord Palmerston to Lord Derby.
The utmost extent of the decline in the Funds was only
three-quarters per cent. This was immediately after the
defeat of Friday night and before it was known who would
be " sent for." But as soon as it was thoroughly under-
stood that Lord Derby was the "coming man," and that he
had formed a Government strong in talent and un-
blemished in character, the tide began to turn, and the re-
action, though not quite complete, has placed quotations
upon a soli i basis—the strength of opinion.
Consols, which left off officially last Friday at 971 to 1,
and after regular business at 974 exactly, declined the next
day, upon the Palmerston defeat, to 901 to 4, and on Mon-
day, upon vague rumours that Lord Derby could not form a
Government, to 964 4. Sales made upon this assumption
temporarily produced a decline even to PO, but the rally
was most decisive when the deception was exposed, and
the parties to it suffered severely. Since then the im-
provement has been firm and gradual, until last evening
the closing price for money and account was 074 to 4, or
just the same as this day week, before there was any
general conception of Lord Palmerston's insecure tenure of
office.
Foreign Securities were but slightly affected during the
week, and they soon recovered the depression caused by
the Ministerial change. Turkish Six per Cents, indeed are
20s. higher than this day week, and all the leading stock*
are better.
Railway Shares fell last Saturday about one per cent.,
and on Monday they experienced a further decline in some
cases of a half per cent. The average fall consequent
upon the proceedings of Friday may be stated
at one and a quarter per cent. But it nag
been followed by a decided improvement, for the
accession of Lord Derby, with the high character of
the Ministers appointed to the Board cf Trade, induced
purchases by the public which not even continued low
traffics could arrest, until the present result is an average
advance of two per cent, above the quotations of Saturday.
Banking and Miscellaneous Shares have been well
supported ; but there is no important change in quotations.
Colonial Securities, with the guarantees of their respective
Governments, have been firm nearly throughout, the high,
rate of interest, six per cent., in most cases having tempted
rather large investments.
reducingTahpepenoareticde;wat iturusout that the interestt the antiewawas
upon Exchequer villa
his