The Express.
London, England, 1846-09-21 00:00:00

MONEY MARKET.

BATURDLY EVENING.
The Bank of England averages for the week ending
the 12th instant, give, as compared with those of the week
preceding, the following results :
Circulatton—lnsuc £29,1404,980
Circulation—Active 20,018,360
Püblic deposits
Other depends
Government securitirsin
Banking Department 12,961,360
Other securities 12,321,816
Coin and bullion
7 day and other bills ... 903,872
The Rest 3,807,789 lnereate 3,310
These returns still exhibit a decline in the average
of the " other " securities held in the Bink, and by
the amount of which its current loans and di.counts
may be measured with some degree of exactitude. The re-
duction of the rate of interest was of too recent date to have
exercised say of the influence anticipated, of bringing more
discount business to the bank. The next returns may be
expected in a partial degree to show how far it has succeeded
in that direction. It may be doubted, however, whether
much additional bill business has been drawn away, or will
he for a time, from the banks and discount houses, whose
terms are as low as those of the bank, or even in many in-
stances a fraction lower, with the advantage to applicants for
accommodation besides of a more prompt manner of dealing
with the securities proposed for acceptance.
The decrease in the active circulation, naturally follow'
front the large amount of notes flowing into :he bank on
revenue account, from the various sources of excise, customs,
and taxes, in preparation for the payment of the October
dividends, and other state disbursements. The less amount
of securities held, would replace so many more notes also in
the bank. The paving out of nearly halt a million of private
deposits, counterbalanced to the extent, the effect under the
former hcadsofdimiuishingcirculation. Coin and bullion were
still accumulating in the bank coffers. They constitute a mass
of values now—a very surfeit of mineral wealth—the passive
and profitless excess of which will be rather annoying,
dnubtless, than otherwise in the Bank parlour. 83 lung,
however, as greater fnoney accommodation is not required
can of doors, by which a more active impulse would be eons-
munieated to the note circulation, there is no remedy fur this
net quite intolerable state of metallic plethora.
We have had little doing in the funds; the market was
heavy, and prices still in decline. Consols are now quoted
951 to 1 for money, and 9d; fer time. The position of affairs
in Spain, and the apprehension of misunderstandings arising
out of the late overreaching marriage diplomacy of France,
have something to do, or course, with this adverse state of
the funds. Exchequer Bills, 10s. to 13s. premium. Bank
Stock, 210 to 12.
Business was flat also in the foreign house, and the prices
of Peninsular Securities lower. Spanish Fives are now
quoted 261 to 7f ; the Threes, 371 to lii ; Deferred, 17 to 1 ;
Passive, 51 to G. Portuguese, 41 to 3. Mexican, 25 to 1. ,1
Dutch Two-and a-Half per cents, 591 to GO; the Fours, 94i
to 5.

',M13101Will(11.—)14 the quotations of prices in the official fists
which follow may seem at variance with those given Mince, it mar be
as well to explassi that the official lists only quote the prices at which
transactions have arturilly taken place, and at the Maculations noted,
each fluctuation describing a separate order M transactions. The
Money Market, beside, representing the general course of the day's
blesiness, gives the baying and selling prices that lS the prices at
which brokers, pbbers, and speculators, are ready to buy or tell ; or
in the case of jobber's, to deal eh her one way or the other, at the option
of parties having busineas to do.;

ENGLISH FTNDS. —Spar. 19.
3 per Ct. Reduced 961 I Ex. BMA, £l.OOO, 1/1., 10 13 10
3 per Cent. ConnolB, 1 Ditto £5OO. 10 13
Bank Stock, for Acct., 2101 Ditto, Small, 10 13.
Consols for Acct., 951, 6
FOREIGN FUNDS.
4 per Ct. Portutruene Boitila, 42 I 5 per Cent. Spanbilt PaBBices, 5!
Ditto Acct., 411 1, 21 Ditto Deferred, 17',1 1
5 per Cent. SpaniBh Bonds Dir. 3 per lent. Sparii,ll Iwn,l , 38, 71
from Nor. 1640, 271 21 ner Cent. Dutch Exchange, 12
Ditto Acct., Sept. 29, 261, 4, 71 Guil., 591, 1