The Express.
London, England, 1851-10-25 00:00:00

MONEY MARKET.

£108,208 16 6

This makes the total amount drawn since the ith
January, 1,208,377/. 19s. 2d.
From the committee of Spanish American bond-
holders we have received the following correspond-
ence:

Venezuelan Debt.
Committee of Spanish American Bondholders, 8, Broad-
street Buildings Oct. 21, 1831
The committee of Spanish American Bondholders have
this morning received from Mr. Lord the following commu-
nications, from which' it will be:seen that the agreement
entered into with the Venezuelan government fur the capi-
talisation of the armor interest has been signed by the
contracting parties.
" La Guayra, Sept. 25, 1851.
" In conformity with the announcement contained in the
postscript of my letter by last packet, I have now the satis-
faction of inclining one copy of the agreement, dated the
12th instant, duly executed by the minister and myself.
Another copy remains with the minister, and the third
with me. Tf.iv will, I trust, lead to a settlement, as far as
the anear interest is concerned, and as respects that of the
Astute, and its contemplated reduction to a medium rate,
donbtlesa the minister. in his promised note, will make some
allusion to what are the intentions and desires of his go-
vernment For that note we have yet to wait a little
longer, Senor Gellineau being at present confined to his
house by an attack of the prevailing epidemic. Meantime,
however, I believe I may venture to confirm what I said in
my last touching remittances, and that a minister will
ehoetly be sent to London to treat, enter into explanations,
M. As regards present remittances, the committee will
Mato bear in mind that we are still in the dull season (eke
my letter of 10th July last), and that the produce of the
Casten's' revenues is small accordingly.
(Signed) " 11. J. LORD."
From the Same, dated La Ouayra, Sept. 26.
"After preparing the foregoing yesterday,L received late
be the day the long expected note of the minister, and have
the pleasure to wait uron you (inclined) with a copy thereof
sa well as cf my reply to it. On the 24th, ho, the minister, Saints° a
r
UM a verbal message to Senor Rojas, that in October and ho Mena --AllassPoto
November remittances will be made to cover the October rybik Dtpt,ita,iitttutd. 3,147.472
dividend, and that timely provision will be made for the alawe, say..tanae
punctual payment of that due in April next. Ootawils. of Auteuil
(Signed) "H. J. Loan." Datt.l Div. Anna) 5.396,109
oii,„, resat.
The following are the translations of the two letters men- 4eveadayeadotner Bilk 1.213e,10ti
t:oned in the last communication : —..._
de,704,1a3 1 134.704.150
" The Minister of Finance to 11. J. Lord, Esq., Agent for Oet. 23. last M. LAIL-MALI . mot , :..,a.•
the Venezuelan Bondholders in London. The above returns, when compared with those for
" Camcas,Sept. 24. the week preceding, exhibit the following changes :
" Sir,—l beg to enclose to you in duplicate the agreement
Circulation issue £28,448,270 Increase 1.3,490
entered. into on the 12th instant, and containing the condi.
lions for the payment of interest due to the Venezuelan Circulation active 20,676,003 Increase 1,104,383
Public deposits 5,396,169 Beery 4SC 4,332,232
bondholders on the foreign debt from the Ist of April, 1847;
and I hope that when you forward this agreement Other deposits
you
may be pleased to testify to the committee, who represent Government securities in
the said holders in London, the good with which the Vent-
banking department..., 13,211,768 Decrease 222,448
suelan government has acted in this transaction, in the in-
Other securities in banking
forest it takes in all the measures for the punctual pay. department
ment of the creditors, not only of what is already due to Coin and bullion in both
them, but also of what is becoming due, remitting for that departments
Seven day and other bills 1 288 108 Lien ase 5,260 5
purpose the necessary funds to London. 9 I
" Please acknowledge to this department the receipt of The Best
Reserve
8,378,499 Decrease 1,100,474
this letter, accepting it at the same time as an answer to The
your's of the 20th of June last. According to the official returns published in the
(Signed) " PETER C. GELLIN EAU." Cra:ette of last Tuesday, the total note circulation of
Mr. Lord's Answer. all the private banks of England and Wales during
"La Guayrs, Sept. 25' 1851. the week ending the 11th of October last, was
"To his Excellency the Minister of Finance,-1 have re. 3,542,803/. ;in the week preceding, the amount was
ceived your Excellency's communication of yesterday, with 0
~0,, 00_....
duplicates of the agreement entered into on the 12th instant , ",'"'',""4' consequently an
There is increase of
by your Excellency, in the name of the Venezuelan govern- I 78,8981.
mem, and by me, in the name of the Venezuelan bond-I The note circulation of the joint-stock banks
holders in London, for the payment of four years' arrears—
interest from the Ist April, 1847, to lst Apni 18.51. By daring the same week was 2,866,142/,, and the pre-
morrow's packet I shall transmit this document to th to•
e vious week's return being 2,784,814/., the increase is
London committee, who will immediately convene a generalto be 81 328/.
shown
~
meeting of the creditors to communicate to them this ar- On taking into consideration the active circulation
rangement, which I hope will meet with their approbation, 'if the Bank of England, which in the week in quest
whereof I shall inform you in duetime. The creditors con- Lion was 19,571,620/. (being 114,0531. more than the
fide in the assurances given by your Excellency of the good week ?receding), we find the aggregate note circula-
faith of the Venezuelan government in this transaction, andieon o England ,
the interest it takes in all its measures in order to satisfy d
,
; and Wales to be 23 980,563/., which
punctually the creditors, not only with regard to what is
shows an increase of 274,3871. as compared with the
owing at present, but also to what is becoming due, remitt- ' returns for the previous week, ending the 4th of
inn to London the fonds necessary for that purpose. It is October.
much to be regretted that by the last packet and by the
the: Aa regards the fixed issues, the private banks were of to-morrow no remittance has been made, and that 11 15 972/ and the joint-stock banks
dividend of Ist October next, which you thought would be 1 , ' ,''' 9 .. 513,8131., regularly paid, is not so ; because if that payment had been' below the amount authorised to he issued, making a
made simultaneously with the agreement entered into fur total of 1,699,1171. below the fixed amount.
the arrear interest it would have made a most favourable IgNOLISII FUN Pd.—Teti DA r.
impression upon the bondholders in London, and pr0iti2c8r41,421.44
iti2c8r41,421.44 15 i Long Annuities, 6 15-:6 7
India tin.ek. St 3
duced happy results for the credit of the Venezuelan 3 '-' et r 1 ~•
itmheporerfuorencebeff toimmrearteenand
(Ito
.yucitaur. y.orhetfoeeossouct.l:.9i;
per • mt. ii, Jot Ditto Itereivl,imel., 58.. 62.. pm.
Exen-vmer Bills. imitg., 531416
itaE:caernllemnacynt.thel
POREIGN FUNDS.
dent remittances for the payment of that dividend; gi pw et, 800., as
g 1 nir Cllrerino. 362 7 and I also venture to recommend the system of 5 Eer IX 114124itaa, ilts 7
ibined.ibornheethdea.biny
36
mrpermo•ce,:occhlitt.,..666.
61,1213
349 Peru, 43 SI
orP°lilefbebaly
al the
d the
n lid we d o receipts u
if p
vu from.
I ic a credit,etiueDitty Detains,. 41 3
.otines! monthlydoingfo,
tthhelep remittance
wu
6 per Ct. Boma A77./4 40 3 5 per Ct. Portugue.e. d 6 8
5 ter Cu. Ita.6.m. 111 113
4i per CA. reason. Mg I
a moral and political point of view; to the government of /par Cs. banal. 768 a p., et..ipsiustl. Active 209 2
Venezuela, and some advantage would likewise be secured 4pr,,,,Atuazi19589 sp., Or, Fjomileb. ?et 5
Do. PsoOr, Si i
in the Exchange by abolishing the practice of making re- Equador, 3 4 per Ce Vvnieuel A. 32 4
mittances at irregular periods with effort, precipitation, or 1 pre m. Grenada. 134 34 2 Do. Detervol. 11 12
sacrifice, and thereby raising in a substantial manner the Sardinian 5 Dar Cut, 24 i 81,
general confidence both at home and abroad, the operation METALS.—Mr. Moate's circular states that
and effect whereof on the public mind being such u will Welch bar iron is in moderate request, not any rail trans-
tend to increase the amountof sympathy and real prosperity actions have transpired. Staffordshire iron is in fair de-
and wealth of the country.—(Signed) H. J. Lord.' mend. Scotch pig iron has declined in price. No. 1,
No decided tendency was perceptible to-day. in the American brands, may be quouted. at 40s free on board at
No. 1; ordinary brands,
market for foreign exchanges, the Quotation for storekeepers'
st°wawa
on board, at 395. Mixed
some laces being a shade lower, and for others numbers, makers' obligations, free on board, 38s. 9d., and
rather igher, whilst in several instances it remained N 0.3, 38s. Swedish iron : No alteration has. taken place
stationary. Paris presented no change but was since mast. Swedidolositecle is
demand. British
~:rniziri
negotiated at 25.25 to 271; ditto 3 months, at 23.45
is
verY
businesssad
dis iloifig in common, refined is in good re-
to 47i, paper being by no means abundant. The export
quest. Foreign tin : Some small :parcels of Bence have
eager demand for bills on Holland continued, the changed hands at 795. Speller : No transactions has been
price beincll. 19f to I for Amsterdam, and 11. 191 reported. Lead is without variation this week. Tin
do
to 12 for Rotterdam. Frankfort was in demand : plates : A good business big.

We are happy to learn that among the earliest
contributions to the New Banking Institute is that of
Mr. Gilbart for fifty guineas.
The account of the position of the Bank of Eng-
land for the week ending Saturday the lsth of Oc-
tober, published pursuant to the Act 7 and 8 Viet.,
c. 32, is as follows:
BAN K Or Y.NOLAN D.—Accovei
Nato raw airaggj

rr for the %Jen culino Oct. 18. Irsl.
PAATIIIaNT.
Onvtrianont, Dol.t £d.1:115.1(0
other zoeuricire.... e
,IIC•Un 14,424.105
Bllra Bullion ABS
4.8.45d,r.11
/MPAITX3/11.
florornmont Sormritioo
anclo4.Drad Weight
AmlLot.) I .i**l L 13.241.768
ltterrectrltro
Nora
, (iota and eu. et Cola