The Express.
London, England, 1855-10-04 00:00:00

;i10:z

fasie of moment. Is Widget to the tint
costnet for 1,600,000 L in gold for that esta-
blishment, the completion of which has already
been recorded, a further contract for the
supply of an additional sum of no less
than three millions sterling in gold has, we are
informed, been taken in London, and is now in course
of execution. The ultimate loss accruing to the B ink
of Fresco from the premium which it is paying for
this gold will be, it is presumed, considerable, and
although the first contract is alleged to have been
met bond fide by bills on London which were lying
in Paris, and by remittances of silver, it is difficult
to understand how the Bank of France proposes to
give this country an equivalent, in the natural course
of trade, for these enormous additional amounts of
gold. To some extent the present Mee may be re-
garded as a virtual discounting on French
accoant of future arrivals of the precious metal
from Australia and California, but it is evident that
anticipations of this nature must be involved to some
extent in uncertainty. The drain, however, is re-
garded as now becoming serious, and imperatively
calling for a policy of counteraction on the part dour
money market. The gradual rise in the rate of dis-
count here, it is satisfactory to see, has been attended
by a decided improvement in the Continental ex-
changes, and although the Bank of France has
hitherto continued its purchases in defiance of the
loss involved, it is hoped that a further rise in
the Value of money in London will impose a
check. Under these circumstances, many persons
express a hope that the Bank of England will not
postpone too long the announcement of a further rise
in the rate of discount. The inconvenience which
may be occasioned to trade by such a step is to be re-
gretted, but bears no proportion to the evils which
might ensue should the extraordinary influences at
present in operation upon the course of the precious
metals be allowed to remain without correction. The
apparent unsoundness of the present policy of the
Bank of France, it is considered, ought not to delude
us into neglect of judicious measures of precaution.
In the Steck Exchange to-day money was easier,
at 3to 4 per cent. on government securities. The
discount minket was also free from pre.sure, but the
enhanced rates lately established are maintained.
The quarterly dividends will be paid to the public
at the Batik of England on Saturday, the 13th inst.
At Feria to-day the Three per Cent. Reutes closed
at a further decline of Ito per cent.
Consols were first marked 881 for the 12th inst.,
but showed flatness all day, and were quoted at four
o'clock at 871 exactly. For money the final quoted=
was 87.1. The official business report is as totlows :
Thies per Cent. Consols, for money, 88/, 871, 88,
881, 88 ; ditto, for account, 12th October, 881, 88, 881,
88. Thirty years Anna., expiring in Jan., 1860, 3'4.
Bank Stock, for account, 218. Three-and-a-Half per
Ceut. Exchequer Bonds, falling payable in 1858,
99 ; ditto in 1859, 99.
Exchequer Bills were dealt in at 3s. die. to Is. prem.,
and closed at 3s. die. to par. India Bonds were quoted
this afternoon par to 4s. prem., and Exchequer Bonds
981 to 99.
The foreign stock market was generally flatter, but
the chief fall is still in Turkish Six per Cents. This
stock was first marked 85, and bad fallen at 4 o'clock
to 84 to 1, being 1 per cent. lower than yesterday.
The scrip of the New Your per Cent. Gaoranteed
Loan was flat, at 21 to 11 discount. French scrip
h:is fallen to Ito 1 prem. Russian Four-and a-Half
per Cents. and Sardinian Bonds were also lower.
At Amsterdam yesterday (Tuesday) the exchange
on Loudon was quoted 11.871 at short, being again
higher; at Berliu, 6.181; at Hamburg, 13.51; and
et Vienna, 10.59.