The Express.
London, England, 1851-07-08 00:00:00

MONEY MARKET.

THIS DAT.
Two °Twat.
The English stock market, considering the absence
of active operations, continues well supported. A
feature of the morning is the renewals of the pur-
chases on government account, but the stock now
'selected for these operations is Consols. There is at
present scarcely the least speculation going on,
either in this or any other department of the Stock

Exchange.
Consols opened at yesterday's range of 961 to 97
ex div. for the 17th instant, and, after being
sellers for a few minutes at 96Z, have now returned
to the opening price. By special transfer there
have again been transactions, which comprise those
by the government broker. The statement of the
day's business, as officially rendered, is as follows :
Three per Cent. Console, 961, 97 ; ditto for account,
961 ; Three per Cent. Reduced, 971, 1,1, 1 ; New
Thre-and-a-Quarter per Cents., 981, 1. Long An-
nuities, 1860, 71, 7-16 ; ditto 30 years, 1860, 71.
Bank Stock, 214, 215.
The accounts by the Bosphorus from the Cape,
(which were first published in the City in a
second edition of the Daily News) bear out our
views of the desultory and protracted character of
the warfare against the Kaffirs, and have contributed
to produce some little dulness in the security
markets.
Exchequer Bills are very firm. Business is
marked in the 1,0001. bills at 51s. premium, and in
the snuffler amounts at 51s. and 545. In India Bonds
nothing has been done, but the quotation is also
firm.
In the foreign stock market the chief business has
been in the scrip of the new Sardinian loon ; some
of the weaker holders of which, as we anticipated,
have rushed forward to sell, and the consequence is the
depression of the price to 1 die. Mexican Bonds
remain fiat and decidedly out of favour, the partial
explanations afforded by the committee relative to
the inadequacy of the receipte on dividend account
not being regarded as satisfactory. The trans-
actions of the morning are officially reported
as follows:—Dutch Two-and-a-Half per Cents., 89.
French Five per Cent. Itentes, 95f.; exchange,
25f. Mexican Bonds, 34; ditto for account, 16th
July, 341. Russian Four-and-a-Half per Cent., small
bonds, 1001, cx div. Sardinian New Five per Cent.
Scrip, 1,1, 1 dirs. SpanishActire Five per Cents.,
201; ditto Passive, 51.
It will be seen by the accompanying communica-
tion that the Mexican government and their agent
have at length been shamed into doing something
for the holders of Deferred Bonds, so long unjustly
kept out of their property, and whose claims we have
so frequently vindicated :
--- • •

The Committee of Mexican Bondholders have received
advice, from Mr. Falconnet, dated Mexico, June 4.
Ile had had an interview with the President on the sub-
ject of the genuine Deferred Bonds, wrongly shut out from
the conversion of 1846, in consequence of which Senor
Payno has been instructed to report on the matter, and
after receiving his report the government intend to provide
what the case may appear to require.
Messrs. Manning and Mackintosh had failed to give
securities, as agreed on, for the balance due from them,
and Mr. Falconnet was about commencing legal proceedings
to enforce the due performance of the agreement.
The extraordinary congress, which had opened on the
Ist June, was to devote its attention exclusively to the pro-
posals of the government fur the regulatim of the finances
and public credit, the reduction of the expenses of admini-
stration, &c. Senor Pent y Cuevas was the new Minister
of Finance. Ile enjoys a high reputation for intelligence
and industry, as well as for decision of character, and IS the
same who filled thst office on Mr. W. P. Robertson's first
arrival in Mexico in Feb. 1849. Mr. Falconnet has had
an interview with him and reports as follows :
" I have just returned from seeing Senor Pena y
Cuevas, and, if I may judge from appearances, the inter-
view has been satisfactory. The minister explained
that from the circumstance of his only just having
taken office, and the manner in which he has
been occupied with the Chambers during the brief
time he has been in, he has not been able to make any ar-
rangements for forwarding funds by this packet to meet the
July dividend, but that it is his intention to have the money
despatched by the next steamer. In the meanwhile he pro-
mises to discuss freely with me all measures concerning the
bondholders. lam happy to see from this that my strong
remonstrances here have load effect, and that there is evidence

the part of the minister, and also of the president, of an
intention of more frank communication with me. Both re-
peat their sense of the necessity of fulfilling the terms of the
decree."
What is said about remittance+ in the foregoing extract
will perhaps account for their small amount by thi., packet,
being, so far as the committee is yet informed, only 9,624
dollars.

On the subject of the Venezuelan debt, the follow-
ing communication has been received from the active
agent, Mr. Lord :
Committee of Spanish American Bondholders,
3, Broad-street-buildings, July 7, 1851.
The committee have received this morning a letter from
their agent, Mr. Lord, dated " La Ouayra, June 9, 1851,"
of which the following is an extract:
"1 have nothing as yet from the minister in reply to my
last and previous communications. The extraordinary Ga-
zette of the 22nd ult. did not reach me till the close of the
last month. I forward a copy herewith, as it contains the
law of ways and means for 18.51 to 1852, with the assign-
ment of 500,000 dole. to the foreign debt. The few articles
at the end of the law merit attention, especially Articles 5,
6, and 7. The amount of expenditure authorised by this
law is 2,688,890 dole., about equal to the revenue ordinary
and extraordinary is the financial year ending 30th June
last: no estimate of that fur the year ending the 30th inst.
has yet appeared."
llere follow the three principal articics of the law of
Tietan6d means"h cal.cluteed to in the above extract:
power is authorised to deduct
from the sanctioned charges, with the concurrence of the
Council of State, those that arc not absolutely necessary
and also to retain one-third of the assigned amount to be
received out of the public treasury for salaries, pensions, or
any commission whatever, of all amounts exceeding 400
dub., according as the state of the finances may require it.
This authorisation, however, does not include the sum ap-
propriated to the public credit both interior and exterior,
the payment of which will be made in all cases with due
preference."
" Art 6. When the receipts are not sufficient to pay in
full, for two consecutive months, the salaries, pensions, or
assiguatioas of the public servants, the Minister of Finance
will issue thn necessary orders to have the funds distributed
pro rata between all the creditors, without any preference
whatever, prohibiting at the same time any anticipation."
" Art. 7. The treasury and every collector has to publish
weekly a statement of receipts and disbursements, and
actual funds, as the books may show ; and in places where
this cannot be done by printing, the said statement is to be
fixed up at the door of the respective office, and an authen-
ticated copy thereof sent to the functional), who has to
transmit a general statement to the Finance Minister."
The amount of bills drawn by the East India Com-
pany on their respective presidencies, from the 24th
ultimo to the sth instant, is as follows, making the
total amount drawn since the 6th of January,
814,8251. 16s. 3d. :
Rate of Exchange.
Bengal £4,720 I° 5 }`2a. per co' nape..
Madras 3,241 5 5
Bombay

T0ta1.... £8,231 15 10

The subjoined calculations show the rate per cont.
per annum yielded by the various securities cited at
the average of the rices which ruled this day.
Where the asterisk (*) is prefixed it is to be under-
stood that the share rate of interest is less the in-
come tax. It will be seen that in every case wo take
the rate of interest last declared as the basis of our
calculation :
Three per Cent. Courola Woe
974 yield per coot. £3 11/
Three per Oaat. Reduced
New Iltree.and-e-Qoarter per Orate-69 .. 3 73
3 1 1
elak Meek (dlr. 74 per wet. per au.) 214 o
IN* (dlr. Lai per cent. pre ash) 264 „ 4 0
Minitel. lad. per day) ll3a. pm., fe:d per rt. 3 91
Our • ENO ph. (dm. at the
rid 4p/r NEL par anis.)
lexoestdre and %oregano £lOO
Sleek* (dlr. at the rate d 2 per
31
eged. pa sea)
When add south Weetere• Stork
(ie. et dr rated 4 va• a. per see.) St n 4 [S If
WOOD and North Westrrue (sod (dlr.
at the rata of 5t ter rest. per ann.). 124 o 4 94
Midland. Stock (dm at the rate et 49
eat. prt amt.)
per 1
&ri-
swath (s.terr• Stock lhalf-yretly
deed 10g. per M. *bare. equal to
U. f1e.83. per cant. yer ALM.)

~ 3 1$ 5

4 1104

Hamburg letters received yesterday afternoon notice'
an improvement of schilling in the exchange on Lon-
don, and also a rise of in the price of gold, which
is now 4244.