The Express.
London, England, 1852-01-21 00:00:00

MONEY MARKET.

THIS DAY.

Two o'ctocs.
The market for the home funds remains at the de-
pressed rates of yesterday, and the tendency this
morning has been rather in favour of a further
reduction, notwithstanding the continued opera. ion
of the government broker, who has to-day
invested in Consols at Ofi', or cheaper than his
purchase of
.yesterday. The undecided position of
the ministerial question at home, combined with a
feeling of growing anxiety us to the conduct of
Louis Napoleon, operates as a discouragement
to active operations, and hence speculation
is inert in most departments, only a few
favoured securities attracting a limiSed amount of
attention. French letters refer to the reported retire-
ment of M. Fould, the Finance Minister, as having
caused a considerable degree of uneasim ss, ON may
he gathered from the decided weakness of the Bourse
during the lust few days, supported although it is
by all the means at the disposal of the government.
Consols have been sold as low as 96, but are now
quoted the same us they dowel yesterday, at 961, to
I for money and February. The business list em-
braces:—Three per Cent. Consols, tai,', ' ; ditto for
Account, 96;, ; Three per Cents. Iteduced 1;
New Three-an d-a-Quarter per Cents., 9!t`,4,
Long Annuities, 1866, 7, 1-16; South Sea Stock,
106 ; ditto Old Annuities, 654 ; Bank Stock, 216,
211, 2164.
The unfunded securities remain quiet. Exche-
quer Bills rule at 565. to 595. preen., and India Bonds
at 68s. to 71s. prem., with no tendency to fluctua-
tion.

The foreign stock market is generally weaker, but
little change in prices is pereeptible,except for Ihfich,
Mexican, and Spanish, which are all flat. Business
has been tolerably varied, but not extensive iu any
one description, stud little disposition to speculate is
shown. The sales of the morning include: Austrian
Five per Cent. Bonds, 70. Brazilian Old Five per
Cents., 94. Belgian Four-and-a-Half per Cents., 92,
911, 92e. Danish Five per Cents., lon. Dutch
Two-and-a-Half per Cents., 64; ditto Four per
Cent. Certificates, 901, 4. Mexican Bonds, for acct.,
30th January, 291,5,t. Portuguese Five per Cents.
(Brazil guarantee), 91; ditto Five per Cents., Con-
verted, 1041, 341 ; ditto Four per Cents., 34 ; ditto
for account, 34. Russian Four-and-a-Half per Cents.,
1001, Sardinian Five per Cent., 89 t, 1. Spanish
Active Five per Cent., 234 ; ditto for account, 23; ;
ditto Passive, 31; ditto New Deferred Three per
Cents., IS, Venezuela Deferred Bonds, 13.
Royal Mail Steam shares are rather steadier,mark-
ing 77. General Steam Navigation are worth V.
Little is doing, however, in the general joint stock
share market.

A very large export of specie took place yester-
day, the Bentinek having sailed front Southampton
with 330,0001., chiefly in silver coin and bullion, (ir
the eastern markets. This large amount of silver
has been in course of collection for a considerable
time, and, as the accounts last received from Calcutta
and Bombay, from which the chief demand is expe-
rienced, report a more easy state of the mono• mar-
ket, it is to be expected that the future demand will
be upon a much less extensive scale.

The demand for foreign bills was very eonsiderablo
yesterday afternoon, which caused a general decline of
quotations in favour of drawers. The movement
seems to be almost entirely caused by an accidental
demand for remittances to foreign countries at a Limo
when, from the scarcity of shipments, the market is
but inadequately supplied. fhe lower quotations
from continental bourses alone are not the cause,
since the decline at Paris and Amsterdam is counter-
balanced by the rise at Hamburg, Frankfort, and
Vienna, in the quotation on London. Short Paris
was done at 25.20 to 23 ; ditto three months, at 25.40
to 45. Amsterdam was in demand at MIN!, to 19.
Hamburg was at first negotiated at 13.101, and left
off 13.101, money. Paper on Italy, Sicily, Spain,
PerSoll, and St. Petersburg was in request, with
one a *linty supply, and the negotiations effected
were in favour of sellers. The exception was paper
on Austria, for which the rate of 12.30 to 10 is
almost nominal, the sale being extremely difficult.
The price of dollars is now fixed at 4s. 10„d. per
oz., at which rate sales have been effected, after
buyers had stood out for some little time for a fur-
ther reduction to 4s. 10Id.
Some interesting specimensof Australian gold were
shown at the offices of Messrs. Sharps and Vi ilkins, of
Great Winchester-st., into whose hands have come
nearly the entire imports by the Anna Mary and
Ralph Thompson. The gold has undergone no other
process than that of washing. The bulk of it is in
small flaky grains, but some of the pieces are of con-
siderable size, varying from one to two ounces in
weight.
ith the increasing export of gold from the Aus-
tralian colonies, the establishment of an Australian
Mint is advocated by some of the local journals as a
most beneficial measure for the colonial interests.
Should the export of gold proceed at the present
rate, it is anticipated that a deteriorating effect will
be produced on the price of gold and other produce,
by greatly reducing the price of bills on England.
At the last dates the quotation of exchange was at a
discount, and the fears entertained would appear to
be already in course of realisation, the price offered
for gold dust having experienced a decline. Even
were the Mint established, however, it remains to be
seen how the natural course of trade could be obvi-
ated. Under present arrangements the gold ,as brought
in from the diggings, is purchased, exported, and
draws against, and the same operation would continue
after the establishment of a Mint, though it is certainly
possible that the precious metal might be rendered
less an article of merchandise than it now is, to the
prejudice of the raw colonial produce. Speculations
on this subject, however, must be dependent upon
the actual yield of gold in the various fields now laid
open in New South Wales and Port Philip, and that
this will be enormously large all the accounts agree
in stating. Here many persons interested in colo-
nial matters, and well qualified to form a judgment
upon the subject, express a decided opinion that the
gold-yielding capabilities of Australia are even now
vastly underrated by the British public.
k:244AL1511 PUN I.6.—flue. Par.
flank Stork, .1611 Lone Annunnm.k.lout
3 per et. Ke3uret.....71 1 I Inch Stork, 2:..0 61
3 ir g'io er'hret: Lion 1iment.1,660,..611.. 714.
Wt • cb., 961 Eschepter 111111.1.0601. IS. kis.
31 per Cl. Camel... 06k
routao:
49 per et. Bodeten. 92 4
5 per Ct. Heathen. 94 d
New. 535
6 per et. lintwo Arm.. 19 51
6 per Ct. Milan, 101 10
3 per Cl. rhlku.. 63 5
3 per Ct. 114,1141. T 6 76
24 per It. Ihiteh. fed V 1
4 per Ct. 1166.1 t, 901 313
lttusta 341
per Cu,
t. Unatada. 159 169
ttdrtiulan 5 to

/LINDA.
3 pr et. MelliC3ll,
6 per Ct. Peru, an. 84
1/11to Pelerrol. 47 8
6 per Ct. Portugue,. 90 2
Der Ct. 118.ian, 112 14
41 per Cl. IttuaLva.loo 1
Der Ct. 01611148. Artlve. 23
3 per Ct. /10814 h. 411 I
I.le. Powave. II 1
24 per Ct. a. Venespol 36
Defer/NA 13 13
Nat., 90 to 81.