The Express.
London, England, 1848-09-20 00:00:00

.MONEY MARKET.

Toaeais
Iltb funds wire steady all day, and OcamoisivingZ a
fraction higher than yesterday. They lack stir, as they
had been almost Without variation, 86 to it sassy,
and 86/ to I for amount. The transastlens were,
however, of the Nast limited extent, and so will pro-
bably mania until tho premat extraordinary oompli-
mace of political eirenostanese ea ths cadinsar

shall receive some sort of a solution, either for
better or for worse. The course of dock as of
.thee public values woos materially deranged, and
sett= suspended in them, from ell leading points of
the osadnent, as most naturally be the result from a
gate of political ohms, whose prolongation may end
in the destruction of all confidenos in the security or
seivesey of the states which are the scene of disorder.
A bargain was done in Mooed Threes to-day, though
shut, at 86 for money with the dividend on, for the
transibr of which, under leave of the Bank, a small fee
would have to be paid. Exchequer bills were 295. to
32a. premium. India Bonds, 275. to 29e. premium.
In the foreign market Spanish Threes were rather
in favour, and MOM actively dealt in than usual of
late, but without altering the quotations before ',tor-
rent. They were bought up to 234, but at the close
were still quoted only 221 to 34, the Fives 114 to 12,
Pardee 21 to 34. Portuguese were flat at 21 to 2.
Dutch Two-and-a-Half per Cents. were called nomi-
nally 444 to 51; the Fours, 704 to 14. Some trans-
actions took place in Belgian Four-end-a-Half per
Cents, which realised prices on purchase up to 72, but
settled down at 70 to 2 as before. Russian, bought
at 991 left off 98 to 100. Chili= Bonds obtained 87,
with quotations from 85 to 7. This stock, it may be
observed, has been much in favour lately for invest-
ment, for it is rarely the object of speculation. Bra-
zilian, At to 0. Mexican, 164 to 17. Peruvian, 29
;031.
In foreign exchange a rather decided rise in the
rates on Hamburg may be noticed, with a slight ad-
vance also in those on Frankfort and Madrid; on
' other places they were the same as last poet, where
not rather lower. The negotiations were, on Amster-
dam,
12.14 to 2; on Rotterdam, 12.11 to 2; on An-
twerp, 26.70; on Hamburg, 13.114 to 12; on Frank-
' fort, 121 to 1211 ; on Vienna, 11 ; on Leghorn,
' 31.76 (nominal); on Naples, 98 ; on Madrid-, 484
to 7 ; on Cadiz, 484 to 9 ; on Lisbon, 61/—all at
three months. On Paris, at short, 26.30 to 324.
r The business done in exchangel to-day was quite un-
important, as might be expected in the present state
of affairs abroad. Paris three months' paper found no
takers.

A remarkable discrepancy has existed for some
time put betwixt the quotations of exchange on
Madrid and Cadiz. Under ordinary circumstances
bills on Madrid should command rather higher
rates than bills on Cadiz, but the reverse
has been the case latterly. Bills on Cadiz
have been paid as much u sixpence per hard dollar
Imre than for bills on Madrid. The explanation is to
be found in the fact of the suspension of at ecie pay-
ments by the Bank of Ban Fernando some months
back, which rendered it uncertain whether bills on
presentation at Madrid might not come to be paid, in
whole, or in part, in bank paper depreciated to an
enormous discount, instead of hard dollars, to the
great prejudice of the buyer or holder of the bills.
Tat bank, it is now stated, has, partially at least, re-
commenced the payment of ita notes in specie,
and exchange rates have improved proportion-
ately as confidence is returning. From 42 pence per
dollar, to which they had descended here, they have
now ddvanced to 47 pence, bat are still 2d. per dollar
below the rates on Cadiz.

aitokug

Hoak Stock. that -
trees• Zed. *am. oh* SS. with
4tv. for
pee tgarloas., 86i ft
Kw la ma. Lano.olW.Morlik
41v. for MOW
LOB& AIM* • exp. Jae. 1.1180.11116

VOID&
Leas Anza..ll9 ram sop. Oct 10.
1/89. elan
Litle lwir. 0.900, 189
LesieleitkAssomn 936 X two.
41lik
Do.. bra. him"
POND&
194% Ol Iftsolei halve MI6
Ot. IOW& Deade.l9lll
Buicka 8k... 9
latatch lipet i
Osetiflesten. Tele
11170013 ABROAD.
Tmene. Bun. in—hood= Illes pee Omen. 76: Ditto. roar par
Oss6h. 66; Ditto. Time par Osals.. 41; DMew TwohoolsHalf per
Oshea, 41: lass. WA IN; Mo. 1139. IL
Nam I.l4—Lesa. WA. ; Ditto, 11141617: Intl6,
1964, • 34611 DIM, lan IS; Ditto. se the .1632. 90:
Dins. I • it aiielso,llll6; Mak of lisue„ 96. Ex-
chime co
Lieviar, szrcts.3zeiseis es Lesemll.4s.
Bawl lam 66.-116. W. Wald.. 741 731. Enehentel ; Ou
90 Fll Hue..
6431; on annanneL 1669 ; m Perin two moths.

/101118/1
6 per 01 Claw Boos* 8?
6 per Ot. Metiallt 14A HO
4 per et Pcitarms Mt le
6pr 0t &Woo Wt. 11112. AA. ,

EICITANGES AND