The Express.
London, England, 1855-04-14 00:00:00

'` ' ' hair teems.
alibi ennounsisinat Of I hank= beds a
_.lperesst. in the English foods shoe'
after:Sam; thermarket itnallyelosing tit tit
't of the day. Nothing'definitetraingiiii
the description of stalk, the
,tonek,
amount of the loan reread, 'lief
than points a variety of rumours.
'Vito more general opitdon pointi tit
ttrenty =Mims stetting, and an
pegindh in many quirfers that the Chan-
' thelfishequer is averse to issuing stock a.
Irma can only be redeemed at par. 'His
wmaillif 'cease apply to afresh breath* '
althediVllis is certainly the plan *Met
the-libleic Exchange. On the other hand,
bettleg a higher rate of angel interest
'end issued at par, die Objeistioa is that
) &cited market" form& new creation
.vety wide " margin • would probably be
a dealinp in the Stock Easing:lre. A
illustratien. of die, ineoaveuienoe• • that
' is Abided by the nun of the. Two-and-
Chet. stink created by Mr: filaditour, the
' stereo' for Memos between the Stook'
buying and selling price) of which is some-
soh as 2 per cent. Unless in times of
excitement Consols can always be bought
the insignificant margin of per cent.,
' amount of this stock is no less than
380,000,000 i. '
respect the proceedings of the Chancellor of
. in:chequer do not. meet with approliationwe
refer to the 'large sales of (it is presumed)' wimp
hank stook which have been 'recently and so mys-
*hugely tarried on. On several former occasion.
we have referred to the criticism which has been
provoked by the nufairnees of this mode of Con-
ducting the }biennial business of the Winn, mus-
tard of the Stock Fashange, and monied men
amorally, being dismounted in their operations by
government sales, the scope and object of which are
seditiously shrouded in mystery. It was hoped that
this uncandid system would have been brought to a
termination by the withdrawal of Mr. Madam"
but this anticipation has not been realised, the pri-
vate sales by the government broker having been
steadily coatis:nod, without any explanation what-
ever, since the present chancellor took office. With
Sir 0. C. Lewis's knowledge of the actual posi-
doe of the exchequer, it is objected that this
coarse is peculiarly impolitic, as this daily
supply of stock has unquestionably introduced an
element of weakness into the rparket, ia fans of the
contemplated loss. For proof of this we need not
look further than to the rapid decline which has
taken place since the rumoured an, impending loan
began to acquire substance, and which is mainly
traceable to the supply thrown on the market by the
Chancellor of the Exchequer. Against any slight
,market advantage which may be claimed from the
reelisation of stook at a higher figure, must be
weighed the adverse fact that the Consol market
inn been daily subjected to depressionat the
eery time when, according to precedent aqd
reins, it should have been strengthened to bear
up against the prejudicial influence on prices which
is inseparable from a government loan of magnitude.
The result would appear to be that lower termi will
have to be accepted for the stook to be now created.
In other words, the Chancellor of the Exchequer may
have succeeded in quietly selling some two millions if
stook on advantageous terms, bat will probably find
the advantage far more than counterbalanced by the
esseessions which he will be compelled to make in
pegotisting the rest of the loan. In view of the sass
of the money market lied the readiness shown io
monied circles to take up such new securities as may
bd offered, we cannot help feeling regret when
the financial affairs of the nation are conducted with
any want of candour, so convinced are we that a
feeling of perfect confidence on the part of the public
in the policy of the Treasury department is best cal-
culated to promote the national service.

In the foreign stock market some sympathetic flat-
ness prevailed, but the decline was mainly confined
to Turkish, which closed at 741 to ex dlr., or I
per cent. lower than yesterday.
The corn market continues dull, with little change
in prise. _ •

The foreign exchanges continue firm, and in some
cases, especially as regards Hamburg, an improving
tendency wee observable this afternoon.
The Admiralty will receive tenders on the lath
inst. for the hire of two sailing vessels, to convey
from 400 to 600 tons each of wooden buildings from
the river Thames, Southampton, Bristol, Liverpool,
or Gloucester, to Scutari. The vessels mast be ready
to load not later than the 20th inst. The East India
Company will also receive tender* on the 18th inst.
for the conveyance of stores to Calcutta.
Tenders will be received by the Emigration Com-
missioners on the 19th inst. for the hire of ships to
proceed, respectively, to Adelaide and Melbourne,
and to be ready to receive passengers between the
6th and 12th of June.
St. Petersburg letters to the 3rd inst. quote the
exchange on London at 381 d., and mention that
about 300 realm of tallow had been dealt in at 117.101
for August delivery.
The arrangements for the settlement of the account
in the railway share market today indicated very
little outstanding speculation in that department.
Generally the supply of stock appears to be mode-
rate, and the rate* of interest demanded for carrying
over were light. The annexed show. the terms cur-
rent at the opening of business, but these are subject
to modifications dependent on the standing of the
operators :

Great Western
Loudon and ?forth Wotan -16 to 6-16 oontaago
Miami I to i djitt
Laaarridoe rod Yorkakire to
Dover' !-32 to 3 32 ditto.
Great Northam

Berwick. 6 per et. to 1.16 ditto.
York and North Midland
Caledonians -16 to ditto.
Land and Bank shares to-day were quiet. Van
Diemen's Land shares showed renewed flatness.
Crystal Palace shares were weaker, closing at 3 7-16
to 3 916, and the preference issue at 3-16 to 6-16
prem. East and West India Dock stock has been
dealt in at 120 ; Victoria Dock, old shares, at 15 to
1(161. paid); General Screw Steam at 151 to 161;
Peninsula: and Oriental, at 58; ditto new shares, at
prem. (101. paid); and Royal Mail Steam, at' 671
to 69.

The return of the Bank of England for the week
loading Saturday, April 7, when compared with the
=return, shows the following results :
hone
gr.o.d.. Wive
MINI digintle 18,0089,818300 homes 324060
896 hams 614.061
OS* isprits
98.68smast arattrities is
A butak
la b imi 4.. 13,026,749 Increase 1,445,882
o,bor uilds
13,066,996 Dogma. 436.946
Oorradtaltlllos In both
Espersamants
levee *gra Maw hilh *kw laigeme Z 421
The Rat _ _ 8,066.693 Dames ,862

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9,11%01 DOWN