The Express.
London, England, 1847-08-18 00:00:00

MONEY MARKET.

TesaDar Eremite.
For the last few days money has been compara-
tively
more easy in the discount market than it was, '
or seemed likely to be, when the Bank last rained its
minimum rate. To-day accommodation has been
more easy still for all but long dated paper, if not
also, as in some quarters has been the case, afforded
on more liberal terms. Neither the banks nor dis-
count houses incline notwithstanding to lock up any con-
siderable portion of their funds upon loans, except for
short periods and upon securities readily realisable,
which in fact, however, amounts substantially only to
the samepolicy acted upon with reference tothc restric-
tion of discounts to short-dated paper preferentially.
So far is this caution carried that loans could be ob-
Wiled with difficulty, even upon Bank Stock, at 6
per cent., when with the condition attaching of holding
over whilst the transfer books are shut in preparation
for the dividends.
By a contradiction not singular, as explained on a
recent occasion, money, whilst more easy in the general
market, is becoming more scarce and difficult on the
Stock Exchange. It was paid for to-day at the rate of
51 per cent. on Consols by firstaate parties in the house.
Some considerable parcels of money stock were brought
to market to-day, on account of holders who, it was
understood, were under pressure for funds. These
sales, with other ooncumng causes, led to a depres-
sion of funded values. Console declined about per
cent, below the opening quotations. From 87k, the
first bargain for account, they went down to 861, but
at the close of business recovered to, and closed at,
87 buyers for account, and 861 to 7 for money.
Reduced Threes, 871 to I. Three-and-a-Quarter per
Cents., 89 to k. Long Annuities, 9 to 1.16. F.x-
chequer Bills, ls. to 2s. premium. India Bonds, 2s
discount to 2s. premium.
The settlement of the account concluded to-day in
the foreign market. The transactions on new account
were upon the usual limited scale. Brazilian were
• done at 85, but quoted only 83 to 6. Mrsioan 16e to
19. Portuguese were 27 to 9. Spanish Fives 201 to
1; the Threes 30 to 1. Dutch Two-ase•Malf per
Cents. 66 to 1: the Fours 89 to I. Emden were acid
at 110 to I, but were still quoted 110 to 112.
Foreign exchange ruled a shade lower on some of
the principal continental drawing places, in others
about the same rates as before. On Leghorn sad
Lisbon the rates were rather higher; on Ham-
burg, Paris, and Madrid, lower. The actual
business done was, however, but limited, as, on ac-
count of the recent failures, the bills offered were
scrutinised more narrowly, and there were fewer
takers. The rates asked and negotiated were wide
in consequence. On Amsterdam the rates done
rankedfrom 12.4/ to 61 ; on Rotterdam, 12.5 to k ;
oltwerp, 25.80 to 85; on Hamburg, 13.12/ to
13k ; on Frankfort, 121/ to 122 ; on Paris, 25.70 to
75 ; on Vienna, 10.5 to 6 ; on Leghorn, 30.60 to 65 ;
on Naples, 401 to / ; on Madrid, 471 to }—all at
dues months. On Lisbon, at 60 days, 531 to 1.
The monthly review for the fourweeks ending with
July 17, of the note circulation of the United Kingdom,
and of the coin and bullion held respectively by the
banks indicated, as compared with the returns for the
preceding four weeks ending June 19, and with the
fixed issues of the banks, was given under this head
yesterday. The following is the review for the corre-
sponding periods of the year.
The yearly comparison of the aggregate note circa-
, lation of the United Kingdom, between the four
weeks ending the 17th of July this year, and the
four weeks ending the 18th of July last year, gives
the follo reernilta
Book ce 51,719,220
Whole S"--41:7
mamma buia. 64.
Lab do.
Sul* leaks —lmam £IOS,SGI

X
274,965
305,861

Aid imam as lamas July 1.7, 180 49,169,124
TM Mme yearly comparison for coin and bullion
gives Ohl following rapine :
Dia 2%1E4 dial ensee C 5,687.049
kfiltseits' go.
SW& leaky IM 472,498

DOW lactase
41S
Total decor ca Was* hay 17,1147 56,804446
It follows, thumbs*, that the eireelethig medium
of the United Singskee, notes tad astaillo vanes
,together, es far ea the- beaks are mimed, wee
**Sri in the while, ender both heads oon-
juiltuly from July, 1848, to July, 1847, to the
aatent her'e.gven
.rpes,ist