The Express.
London, England, 1851-05-07 00:00:00

MONEY MARKET.

TIIIS DAY.

Two o'CLocx.

Speculation is almost at a stand-still in the Eng-
lish stock market, and, indeed, in every department
of the Stock Exchange, but the news of a
rally on the l'aris Bourse yesterday added
to the ve7 satisfactory features presented by the
Board of Trade returns for the month, as showing
continued prosperity in most branches of our national
industry, notwithstanding the complaints so els-
elamourously made in some plrtieular quarters,
have combined to produce a better feeling, and prices
have risen k since the close of yesterday's market.
Considerations as to the course that may be taken by I
the Bank of England, have not formed so prominent
la subject of discussion to-day, but there can be no
doubt that the uncertainty which at present prevails
relative to the future value of money has a strong
influence in repressing speculation generally.
Consols opened at 96 to k, and have since im-
proved to 96 to 97, both for money and the 13th,'
which is their present quotation. The official report
of the day's business comprises: Three per Cent.
Consols, 961, 97 ; ditto for account, 961 ; Three per
Cents. Reduced, 961, 911, ; Three-and-a-Quarter
per Cents., 974,1, ; Annuities of 30 years, 1849,
7 3-16; ditto, 1861), 7 910 ; Bank Stock, 210; India
Stock, 260.

The Exchequer Bill market is heavy., and continues
to show a downward tendency. fhe 191141/. bills
mark .505., 525., and 495. prem., being a decline of
Is.; ditto 590/., As. India Bonds remain without
inquiry.
In the foreign stock market speculation is almost
in abeyance, and the money business is very small,
so that this department is in a state of stagnation ;
but prices are well supported, especially for Peruvian
and Mexican. 'lheAransactions reported in to-day's
list deserve no special not ice, being limited to Brazilian
Old Five per Cents., 89, tits; ; Buenos Ayres Six
per Cents, 36; Danish Five per Cents., ; Gre-
nada One-and-a-llalf per Cents., I+4; Mexi-
can Bonds, for the account 16th of May, 3d.;
Peruvian Five per Cents., 1819, for account, SI ;
Russian Four-and-a-Hulf per Cents., 99 ; Spanish
Active Five per Cents., for account, 192; ditto Pas-
sive Bonds,

The quotations of foreign exchange again de-
clined a trifle in several instances yesterday. Short
Paris was done as low as 24.93 but left 24.97 i to
23.2!, and long 23.20 to 23. Holland, in consequence of
the rate coming lower from Amsterdam, was a shade
worse, dosing 11.1 6!, to ; and the same may be said
of Frankfurt, which was negotiated at 11S; to
119. The exchanges on Italy remained without al- ,
' teration but the demand for bills on Spain flagged'
somewhat to-day. A sudden demand for bills on
Lisbon caused eit to be done at 43; to 1, whilst
Oporto remained the same as last post, viz., 33;! to
I. A good amount on St. Petersburg was in the
market, which found buyers at 37i. Vienna and
Trieste were again higher, with very little business
doing.
The amount of bills drawn by the East India Com-
pany on their respective presidencies, from the 24th
ult. to the tith instant, is as follows:
_ .

Rate of Exchange.
£3,285 16 10 )
2a ld. per Co's rupee
Madras .... 3,385 18 8 —*
Bombay.— , 2,125 0 0 2s. 1,41. per do.

T0ta1.... £M,79615 6

The Board of Trade returns tor the month and
three months, ending April 5, 11+51, and for the cor-
responding periods of 1619 and Bat), are of the
most satisfactory character.
The exports show a very largo increase, the re
turns being as follows :
Month. Three months.
1849 £5,365,663 £12,822,933
18.50 5.71a,752 14,65.5,153
1851 6,965,196 16,523,344

Inereafte .... £1,181,444 £1,868,191
As there is some fear that the dulness of trade in
April may show a decline in the next returns, we may
observe that the exports of the first three months of
1851 already
.equal the first four months of 1849,
and only require 3,514,655/. to equal those of 1830,,
the amounts being :
1849
1851

There is therefore every reason for confidence, that
even if a reduction should take place on the next
monthly returns, the general aggregate of the year
will still be in advance.

Except fish, which is a precarious article, the
month's exports of every article show an increase.
As the trade in cotton yarn is returned, the total
exports of cotton and cotton yarn are very large.
The amounts stand as follows for the month :
1819
1850
1851

Increase £619,037

This is equivalent to 25 per cent.
Woollens, linens, and silks, no less than metals,
show the same movement. Tho glass returns arc
very satisfactory, the exports of English glass having
increased, while the import of foreign coloured and
cut glass is declining.
The returns of imports and consumption are of no
less favourable character. Although there is some
increase in corn and flour as compared with 1850,
provisions remain stationary, showing that there is
no unfair pressure on the agricultural classes, while
the supplies of guano and seeds constantly increasing
prove the exertions of the agriculturists to keep their
ground.
The imports of wool, cotton, alpaca. and silk, are
I steadily increasing, and afford a favourable indication
for the manufacturing interests. If flax is less in
demand it is not in consequence of a decline of the
linen manufacture and export trade, but of the great
exertions made by our agriculturists to share in the
supply of flax.
'lea shows a large and continuous increase, and
sugar is rallying. 'file following arc the consump-
tions of tea and sugar in the three months :
Tea. Sugar.
1849
18.50 12,245,121 „ 1,611,182 „
1851
Coffee it might be expected would show a decrease,
chicory here, as well as in the coffee drinking coun-
tries of the continent, having entered largely into
consumption. Cocoa is also in arrear.
The consumption of spirits is slack, which must
be attributed to a diminished taste for them, as wine
shows an improvement. Tho consumption of the
three months in gallons is—
Wine. Spirits.
1849
18.50
1851

. . .
The navigation returns afford an unequivocal proof I
of the cxtenoion of our shipping trade, notwithstand-
ing that the comparison has to be made with 1849,1
in which so much corn was carried. The tonnage of
English shipping, inwards and outwards, is as fol-
lows for the three months:—
Inwards. Outwards. Total.
1849
18.50
1851

Increase .. 134,003 .... 69,893 .... 203,896
The addition of the inward and outward tonnage
affords the most satisfactory means of ascertaining
the total amount employed, and it will be perceived
the increase over 1850 is about 15 per cent.
It is likewise gratifying to perceive that the
foreign tonnage has largely increased, as it proves
that a greater freedom and activity has been commu-
nicated to the commerce of the world, from which
we Cannot fail greatly to benefit.
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