The Express.
London, England, 1851-04-23 00:00:00

MONEY MARKET.

THIS DAY

Two o'CLocx.

There is rather more activity in the
market to-day, but prices have not been quite main-
tained at yesterday's rates, the bulk of the operations,
especially in Consols, consisting of " sellings." A
good deal of anxiety is expressed in some quarters
as to the result of the weekly meeting of the
Bank Board, to-morrow, the more especially as
it is known that the question of raising the
rate of discount was mooted last Thursday ; and this
has certainly induced a feeling of caution,and checked
business, both in the English stock and railway share
markets; but it is still the opinion in most quarters
that no change is as yet contemplated by the direct-
ors, and it is generally thought probable that the
considerations suggestive of the measure alluded to,
and the most important of which is the rapid dimi-
nution of the stock of bullion, will ere long cease to
have any effect, as the tide of bullion will probably
shortly turn back to this counter from the Continent.
Consols opened at yesterdayrs quotation, but, not-
withstanding the support afforded by a further
-
chase on public account, the market has fallen back
to 96; to ; for money, and 961 to for the
13th of May. The official report of business
ia: Three pee Cod. Cosiesie. 971., el do. far Mot.,
971; Three per Cent. Reduced, 961, ; Three-and-a-
Quarter per Cents., 9s, 971, 991, 971; Long Annui-
ties, 1860, 7 5-16; Bank Stock, 2111; India Stock,
261, 260, 262; South Sea New Annuities, 964.
Exchequer Bills arc steady, business being marked
in all sizes at 545. and s;s. prem. India Bonds,
large and small, mark 60s. prem.
The prices of foreign bonds are more firmly main-
tained to-day, especially Portuguese and Mexi-
can. Business, however, is almost at a stand
still in this market, the entire bargains of the morn-
ing being limited to the fifflowing descriptions, viz. :
Dutch Four per Cent. Certificates, 901. Mexican
Bonds, for the account, 30th April, 351. 4. Portu-
guese Four per Cents., for account, 33, I. Russian
Five per Cents., 112; ditto Four-and-a-Ralf per
Cents., 991, 1.

. .
The foreign exchanges were again higher yesterday
in several instances, bills on Faris, Holland, and
Austria being done at improved quotations. Drafts
on Hamburg, Frankfort, Italy, Spain, and Portugal,
were negotiated at about the same rates as last post.
There was not much demand for Paris, owing, us it
is reported, to an opinion that the high price of sil-
ver will not be maintained. Holland found very
few takers, and Vienna and Trieste were saleable
only at a considerable advance.
The dollars by the Clyde were sold yesterday at
4s. 11:;d., being the price which has prevailed for
some time.

From the committee of Spanish American bond-
holders we have received the two Venezuelan docu-
ments referred to in their communication of lust
Saturday.

VENEZVELAN DEBT.
8, Broad-street-buildings, April 22, IBM.
The President of the Republic of Venezuela to Congress.
Honourable Chamber of Representatives,
The executive power, in its capacity of permanent autho-
rity and centre of the most important affairs which ema-
nate from the laws, or which present the necessity for
their creation, is placed in immediate contact with the
legislative power, and in direct exercise of the high ad-
nunistration of the state, so that it knows well, daily and
practically, the nature of the measures required by the
situation of the country, or the difficulties to he surmounted,
in order that these may duly fulfil the objects of the legis-
lature and the ends of the two powers. It becomes, there-
fore, its duty to give such hints, and to furnish such
timely information as may hest insure to draw the uttin-
tint of the chambers to all those points which the progress
of society, and tile obstacles it has met with. appear worthy
of coiedderation. Full of this persuasion, my attention has
been, and still is, engaged hi making a scrupulous
investigation of the different departments of the
executive, in order to obtain sufficient data for
submitting to your notice the improvement that each
may require from your meditation and intelligence in the
present sessions. And although I did nut intend to give
you an account of all my different observations until 1
should be able to present them to your consideration in a
complete form as the intimation of the must urgent necessities
of the republic, and at the same time a full exposition of the
principles of my administration, yet I find myself obliged,
by its vital importance, to anticipate in the present message
the way of attending to oar foreign affairs, by appointing
to the European governments one or more diplomatic
agents that the republic stands in need of, and the want
whereof has for many years been greatly felt, is daily more
and more felt, especially since the political change of the
administration, as also since the events which have taken
place, and the expiration of sumac of our public treaties,
thereby producing inconveniences of high import, and a
necessity fur improvements in our relations which must be
attended to without loss of time, and before unfounded im-
pressions load to a supposition that we have abandoned the
duties of friendship or our own interest in public as well as
private matters the present with the future, which the re-
public is bound zealously to discharge, to preserve, or to

promote.
Amongst those which deserve particular attention is that
which concerns the public credit, on account of the engage-
ments into which we have entered with our foreign creditors,
whoe confidence in the Venezuelan government has not
been weakened, notwithstanding the difficulties that have
intervened and prevented their exact fulfilment; therefore
when I undertake the immediate arrangement of the public
debt I must convince the creditors that they have not con-
fided in vain, and that Venezuela is disposed to do all in
her power for the appreciation and satisfaction of their just
rights and claims, which they will at once understand when
they can treat with a Venezuela
representative.
It is impossible fur to remain as hitherto with-
out agents who may represent her at those governments
with whom she is in relation; without, representative who
may accredit her where her interests, her honour, her
rights and obligations require his services, his daily vigi-
lance, as a solemn duty. We are a new state, and therefore
have a sufficient importance to characterise and accredit us
as we could desire, and are entitled to expect, with the
great family of nations ; we began by making treaties of
friendship and commerce with powerful governments, who
have honoured us with the iniesion of their agents, with
whom rests all the intelligence between them and this re-
public ; we have in the very birth of our existence acknow-
ledged such engagements fur the payment of a debt of
honour which we inherited front Colombia, and of which
the unpaid interest is daily increasing, lessening our pecu-
niary credit, and creating new burdens ou our national
treasury. All this obliges me to look with much anxiety to
our foreign relations, and not to neglect, fur another mo
ment, the consideration of such important ditties as I feel
in this respect the nation's confidence has imposed upon me.
Wing of that opinion, and resolved, if it be possible, to
appoint one or two legations to some of the European go-
vernments, I am only detained therein by the want of the
necessary funds fur their expenses, because no provision was
made for this object in the budget of the current year,
and the funds required fur unforeseen calls having been
exhausted, 1 think it my duty to solicit the assignment of a
sum of 25,000 dollars for that purpose. If the Congress is
convinced, as I have nu doubt they are, of the importance
and urgency of the measure which I propose, they will not
hesitate to accord this charge, which in other less pressing
circumstances would have induced me, in consequence of
the pressure on our treasury, to have postponed till the
next budget.
(Signed) JUSI ORBOOI4IO MONAGAd.
Caraccas, 1•cb.22, 1851.
• •

•
Committee of Spanish American Bondholders,
8, Broad-street-buildings, April 22, 1651.
Decree of the Venezuelan President.
Art. 1. The revenue of the Customs shall be destined as
under:—
Sec. 1. To the public credit the fourth part of import
duties shall continue to be appropriated.
Sec. 2. To the refunding of any sum that may have
been temporarily used to meet some urgent necessities,
with condition of being restored.
Sec. 3. To the payment of orders that may have been,
or shall be, given to satisfy foreign claims, the payment
whereof shall be made in four consecutive monthly
ia-
stalmcnts.
Sec. 4. To the payment of the 15 per cent. assigned an-
nually for the redemption of Treasury bills inscribed ac-
cording to the decree of the sth June of last year.
Sec 6. To the estimated expenditure of the provinces
which is payable out of each respective Custom-house.
Sec. 6. to the restitution of the funds temporarily
appropriated from branches which by the laws du not ap-
pertain to the national Treasury.
Art. 2. After deduction of the foregoing reservations the
remainder shallbe applied to the payment of all other orders
that may have been given against the custom-houses, and
credit shall be given for the same in their respective accounts
the moment they are presented.
Art. 3. Every custom-house will fix in a public place a
list of the individuals holding orders so credited, with a spe-
cification of the amounts. _

Art. 4. On the 3rd of every month, and at the usual hours
of business, the collector of each cuNtutu-house, in coujunc-
tion with the civil functionary last appointed and others to
the last examination, ...kill distribute among the creditors of
the tdregoing list who may be present, whether personally