The Express.
London, England, 1851-10-15 00:00:00

MONEY MARKET.

THIS DAY.

Two o'CLoca.
Though the attendance of dividend receivers at the
Bank to-day is restricted by the gloomy weather,
there have been a good many cash transactions in
the English funds; and with investments offering
both on government and private account,
prices are well supported at a gigh figure.
Reduced Threes is the stock now selected
_

for the operations of the National Debt Com-
missioners broker, which may be expected to
continue with the scone regularity as heretofore
on all public transfer days, till the expiration
of the quarter, the daily purchases being of
course restricted in amount so as to spread them
equably over the entire period. This has been pay-
' day in Consols, when the " differences " arising out
of the month's account arc settled ; and the requisite
arrangements appear to have been effected without
further difficulty than tho solitary instance to which
we alluded yesterday.
The third edition of tho Daily News communicates
the intelligence of the resignation t n masse of the
French ministry, consequent upon the fixed deter-
mination of Louis Napoleon to repeal the law of
May. The Paris Bourse, though agitated, closed
yesterday rather higher, and no impression has been
protTleed on prices here by the news, supported as
they are by the usual money business of the season,
but there can be little doubt that the anxiety preva-
lent in the French capital will be made a handle of
by the " bears," evidences of a disposition to take up
a line of operations in this direction having already
been manifested.
Consols have only varied from buyers to sellers at
914 both for money and account. Ihe present quo-
tation shows a rather wider margin than usual,
being 961. to 97. The offieid business list comprises
the following, viz : Three per Cent. Consols, 9q,
97, On 97; ditto for account, 12th November,
961, ; Three per Cent. Reduced, 96, 96,
ex div.; New 'lhree-and-a-Quarter per Cent.,
971, aex div.; Bank Stock, 211 2121 cx div.; Long
Annuities, 1860, 6!, 7 ; ditto 30 years, 1859, 6i,
11-16; India Stock, 262.
The floating debt is well supported at the late rise.
Exchequer Bills of all classes have been dealt in at
48s. to 51s. prem., but in India Bonds only the
smaller sizes have met with business at 51s. prem.

In the foreign stock market the transactions have
not been numerous, the settling attracting attention.
The rates for carrying over rule at 3 to 6 per cent.
on most descriptions, and on Mexican, at
4 per cent. on the amount, or 3-32 per
cent. on stock. Prices present scarcely any
change, but Venezuelan arc rather firmer. The fol-
lowing are the prices of actual bargains : Dutch
Two-and-a-Half per Cents., 581 ; ditto Four per
Cent. Certificates, 90;, 1 ex cliv. ; Equador,
Grenada Deferred, 31. Russian Four-and-a-Half
per Cents., 1011. Sardinian Scrip, 21., 21 die.
Spanish Active Five per Cents., 20L I; ditto for
account 31st October, 201. Venezuela Two-and-a-
Quarter per Cents., 311; ditto Deferred, 11.
In last night's Go.lettr appeared the usual official
notice from the National Debt-office, of the amount
to be applied to the reduction of the debt between
the 12th Oct. and the sth Jan., 18.12. In the Ex-
press of Monday we stated the amount available at
758,1961., which it appears did not include a sum
of 2,138 k 10s. sd. interest on donations and
bequests. The official statement gives the
actual surplus revenue of the United Kingdom
of Great Britain and Ireland, beyond the
actual expenditure thereof, for the year ended the
sth day of July, 1851," at 3,032,7841. 7s. sd. One-
fourth of this sum is 758,196/. lls. 10d., which, with
the interest, makes a total of 760,328/. 2s. 3d. The
application of this sum cannot fail to have a strength-
ening influence on the market.
The discoveries of gold in Australia have produced
great interest here, because it is evident gold work-
ing will, for the future, be carried on upon a very
large scale. It therefore becomes a question of much
importance how far capital can be legitimately and
profitably employed in gold working. In the opera-
tions in the dry and wet diggings, curried on by
rude labour, there seems little scope, and gold
mining has hitherto been a very unproductive and
unpromising business. The discovery of the quartz
veins in California, andthe indications of them in New
Holland, have, however, opened a new branch of gold
working, and a new career for the capitalist. To crush
the hard quartz rock, large and costly machinery is
most effective, and this can only be provided by the
intervention of the capitalist, the extractor of the
quartz rock becoming a labourer or a tributer. Al-
ready some parties of respectability have engaged in
the export of machinery to New Holland, and others
have successfully introduced machinery, in Cali-
fornia, and obtained returns, but the chief venture is
that about to be undertaken by the Agua Fria pro-
prietors. The quartz works of which they have got
possession are ou the estate of Colonel Fremont, who,
it is well known, has secured one of the best districts
in California, the capabilities of which are so gene-
rally recognised that an unprincipled adventurer im-
posed on some parties here by pretending to sell
them the estate. In the present case, however,
there is no mistake, the lease having fallen
into the hands of London capitalists, and a
large remittance of gold-bearing quartz, valued
at .3,0001., being lodged at their bankers'. 'ibis is a
new mode of making a remittance, and one which is
likely to be followed up, as according to the assays
of the United States Mint, the Bank of England, and
Messrs. Percival Johnson, the Agua Fria quartz
contains about one-third weight of gold. Perhaps
it will be found more prudent fur the company to
remit the quartz than to reduce it by machinery on
the spot. The Mariposa Company, who employ
Cornish workmen, have quartz equally rich, and
their shares are now sold at enormous prices on the
New York Exchange. We think it by no means
improbable that other large workings, besides those
of Agua Fria and Mariposa, will be found, but that
will not affect the holders of those properties, as
they have an enormous mass of mineral in sight.
Any one who has seen this quartz is by no means
surprised at the richness of the river diggings in such
districts, because the disintegration of the quartz
leaves free such a large proportion of pure gold.
The meeting to memorialise Lord Palmerston on
behalf of the Egyptian railway was held to-day at
the London Tavern, and was well attended by the
merchants connected with Egypt, the East Indies,
and the overland route. A full report will be found
in another column.
The United States authorities appear disposed to
seize upon all available means to knit together their
outlying territories on the frontiers of the Mexican
Republic, a circumstance which is not without its
significance when we consider the steady southerly
tendency of the Anglo-Saxon spirit in those re-
gions. In addition to the improvements recently
carried out under official patronage in the
means of inter-communication in this quarter, the
United States postmaster-general has entered into a
contract for the transportation of a monthly mail
between Santa Fe and San Elisario, vas El Paso and
the intermediate points on the Rio Grande, a dis-
tance of 330 miles, and also for transporting a mail
every ta o months between San Antonio and El
Paw, which is a distance of about 660 miles. The
public officers and inhabitants of New Mexico and
Western Texas will therefore have a mail from the
cast monthly by way of Independence and Santa Fe,
once
every
and San Antonio. mon
It is probable probable that by r these
routes we may
occaisionally, obtain more definite in-
and two by of New Oleans
telligenee as to the condition of the northern pro-
'bees of Mexico.
In the Monitors Toscano we have the official text
of the treaty between the governments of Austria,
Tuscany, Rome, Modena, and Parma, for uniting the
Tuscan and Lombard railways,. and which affects
English interests, inasmuch as a junction is proposed
with the lines of the Maria Antonia or Anglo-Italian
Railway. The portion of the railway through the