The Express.
London, England, 1851-03-05 00:00:00

T
1 db.

MONEY MARKET.

THIS DAY.

Two o'CLocK

There is no increase of business in the English
stock market, but the slight unfavourable influence
exercised by the absence of individual operators is
counteracted by the purchases of Three per Cent.
stock which continue to be regularly made on
account of the Coimnissioners for the Reduc-
tion of the National Debt. Though the daily
amount of these investments is small, usually ave-
' raging about 23,0001., the aggregate is very consi-
derable, and by this prop, as we have before ob-
served, the stability of-the market has for some time,
past been chiefly maintained. The narrow margin
of fluctuation which Consols have lately undergone
is the subject of general remark.
Consols have not experienced the least change to-
day, the ruling rates being the same as yesterday.
96, to /, bosh for money and the 11th inst. The
official list reports business as follows :—Three per
Cent. Consols, 961, • ditto for account, 967, A ;
Three per Cents. Reduced, 971, 4; New Three-
and-Quarter per Cents., 981, 90; Long Annuities,
1860, 71 11-16 ; ditto, 30 yeam, 1860, 71 ;
Bank Stock is firm, and marks 2151.

Very little business has been don'e in the unfunded
debt, but prices appear steady. Exchequer Bills,
1,0001., mark 51e. prem.; do. small, 455.; India
Bonds, large, 575. prem.; ditto small, 525.
In the foreign stock market there is little move-
ment, and the general feeling is rather dull. Spa-
nish and Mexican Bonds have been trans-
acted at rates rather more favourable for
buyers, but other descriptions are scarcely altered in
price. Belgian Bonds have met with a few trans-
actions. The list of transactions is :—Buenos Ayres
Six per Cent. Bonds, 54, 1. Danish Five per Cents.,
101 cx div. Belgian Four-and-a-Half per Cents., 911;
ditto, five per Cent., 103. Mexican Bonds for the
14th, 341,1,, . Peruvian Four-and-a-Half per Cent.,
1849, for acct. 82,1 ; ditto lkferred, 37. Russian,
Four-and-a-Half per Cents.. 1t449, 97t, t. Spanish
Active Five per Cent. for acct., 191, ; ditto Coupons,
9 ; ditto Three per Cents. for acct., 38.
. . _

There have been very few transactions in bank
shares during the last work. The prices realised
are: London Joint Stock (101. paid), 171; London
and Westminster (201. paid), 271; Union of Austra-
lia (2/. 10s. paid), 3!,.
In dock shares u moderate amount of business con-
tinues to be done. Commercial Dock were lust sold
at 84; East and Wilt India, at 142; London, at
1163 to 11‘”; St. Katharine, at 741; Southampton

- - ,
(601. paid), at 14.
During the present month a sum of above a mil-
lion will be payable in Loudon for dividends on
foreign stocks and on railways. The following arc
some of the chief items :

FcrlcElo,7 STOCIES,

Chilian Six per Centlii:nitiii liart:h 5 .. £27,000
Ditto Three per Cods. %larch 30 .. 10,100
Danish Five per Cent. Bondi,. March 1 .. 3,750
Ditto Three per Ceuta.
Greek Five per Cent. Dondv
• •

iitILWAYS.

Great Western Stock March 1 £130,800
London and S. Western Stock March : 138,400
London and N. Western Stock Feb. 21.1 .. 403,700
Midland Stock March .. 82,000
York and N. Midland Stock.. March .. 14,100
At Paris upwards of three millions will become
payable towards the end of the month, being the
half-yearly dividends on 120,000,0001. Five per Cent.
Reines., and on 1,1810,0000. Four-and-a-I lull wr Cent.
'lentos. `lids is exclusive of railway dividends and
debentures. _ _ _

The specie, per Medway, from the Pacific, was
sold this afternoon at Cis. 1 Id. per ounce standaid for
bar silver, which is an advance, owing to the advice@
brought by the overland mail.
From the continent we have advice@ of a decline
in the exchanges on London from Paris, and all
parts of Italy and the Levant. In the north of
urope they arc better sustained, and a rally in the
rates generally is to be expected.
The following important communications from Mr.
Weisweiller have been handed to us by the Spanish
committee. In the answer to M. Bravo Murillo,
Mr. Weisweillcr maintains with dignity the rights
of the bondholders:
Madrid, Feb. 24, 18.51.

Monsieur lc Prsident,—Referring to myy letter of yester-
day, 1 have now the pleasure of forwanling you a copy of
the translation of my answer to his Excellency Senor Bravo
Murillu.—lklicve me, Monsieur le Pr6sident, &c., &c.,
DANIEL WEINWEILLEIL
To the President of the Committee of Spanish
Bondholders, London. The Delegation of the
English Committee of Spanish Bondholders.
Excellent Sir,-1 have had the honour of receiving the
esteemed letter of your excellency of the 21st, in which, in
answer to mine of the 19th, and to that of the president of
the English committee of Spanish bondholders of the 11th
of this month, your excellency informs me that you cannot
present the amendment solicited in favour of the coupons
overdue and not paid, the project of law for the settlement
of the debt having been already submitted to the examina-
tion and for the deliberation of the Chamber, who would

reaulve upon what they should judge to be, most ouitable

according to the result of the discussion. The constitution
itself stipulating that the public debt is under the special
protection of the nation, to no better body than the national
representatives, to its great wisdom and enlightened judg-
ment could the creditors trust the safety of its cause, as it
cannot fail to find a host of defenders, when it is a question
of a credit so sacred as the interests of the public debt owing
and not paid during eleven consecutive years.
Your excellency deigns to tell me that the question ought
not to rest upon the application of the principles of equity
and justice, but on the fact of the possibility, of payment,
concerning which your excellency appeals to the experience
that I have been able to acquire of the resources of the
country during my long residence in Spain. I thank your
excellency for the honour you do me, yet I cannot but avow
that after the considerable concessions consented to by the
creditors, and all the difference. between the possibility and
the impossibility being reduced to the sum of 100,0001.,
during the first five years, since no payment is offered for
the current year, which sum progressively increases
25,000/, every two years, arriving after 19 years at the
maximum of 300,0001. I cannot persuado myself that,
though the actual state of the treasury is not as disengaged
as might be desired, the above-mentioned sum could
form seriously the object of an insurmountable difficulty;
that a nation, great and honest like Spain, should terminate
with one accord a definitive settlement with its creditors of
a question so highly important as that which I have the
honour to recommend to the superior consideration of the
government.
God preserve your excellency &c.
DANIEL WEIAWEILLER,
The Delegate of the Committee of English Spanish
Bondholders.
Madrid, Feb. 26, 18.51.
My dear Sir,—Referring to my letters of yesterday,
communicating to you the despatches to and from the
Spanish government, I beg to inform you that I have just
been apprised by Lord Howden of his having received •
despatch from Lord Palmerston, informing him that the
French and Prussian governments have sent instructions to
their representatives here to give his lordship every assist-
ance in his negotiations with the Spanish government for
the settlement of the foreign debt.—l remain, my dear sir,
yours most faithfully, D. Waisweitiza.
To James Capel, Esq., Chairman of the Committee
of Spanish Bondholders, London.
Mr. Dover has handed to us the following reply
of the Mexican committee, which, we think, affords
further evidence of neglect of duty. Instead of the
committee taking active steps for the protection of
their constituents, they try to escape from the obli-
gation. The committee suggest that the Mexican
Deferred Bondholders should draw up a memorial ;
whereas, if a memorial is to be drawn up, it should
be by the committee. If the committee be both will-
ing and competent to do their duty, they neither
want the urging nor the suggestions of the Deferred
Bondholders, because it is manifest there must be
immediate action. A few days ago Deferred Bonds
were sold at 8, while Active Bonds, worth 3t;, are
lying in the Bank of England, and the Mexican
committee have in their hands funds for a dividend,
yet the Deferred Bondholders are told to wait
until the Mexican government has finished a
Chancery suit in Mexico with agents, in
whom the Deferred Bondholders have no connexion.
A clearer ease than that of the Deferred Bondholders
can hardly be brought forward, and yet the Mexican
committee, for inconceivable reasons, deserts the in-
terests of its clients, and sacrifices them to the go-
vernment. The reply, addressed to Mr. Dover, is a
virtual denial of justice, and it becomes the Active