The Express.
London, England, 1847-05-17 00:00:00

MONEY MARKET.

SATURDAY ETIWING.
Contrary to general expectation the funds were in de-
cline to-day, instead of exhi biting the improvement anticipated
from the very favourable tenor generally of the intelligence
from the United States. It must be observed, however, that
the market was but thinly attended to-day, and therefore
: that the business transacted WU not of much consideration.
' In fact, the dead weight upon the fonds, and which is a bar
'to all present improvement, is the pajama to which
Exchequer bills are again reduced. They my, now
be actually considered at • diszonnt, although no.
quoted 1 discount to 1 premium. The extensive
sales of the Bank broker for Wield consecutive days have led
to the asepisien that the operations were for the account of
the Bath beak however the ',apposition might seem to be
snisesid by the Mown fact that, according to notice to the
gibe sew shwa ice, the Bank is, and has teen, makers
Issas ma the eases time of eseseities. The inferences drawn
hem this essablestism ef ethos are that the Bank directors
width kaillag, mad thenalbee weerrathag, circulation through
seeteamsdatia• with the the bead. ale withdrawing it with
the ether. It follows that, if such be the policy pursued.
the maim market cannot be substantially benefited by the
edemas ea Exchequer bills for so short • term as 14 days
after A the liberality of which was rather too ostentatiously
dweltagas is the HORN of Commons some evenings since by
the Chmotaller of the Exchequer The discount to when
the bib hive myth fallen is a revivified source of embargo.
meat far the Ithemoy. The inducement to holders to send
them in for perearth, to preference to renewal, will become
all the straw, aria that is face of the rise of interest from
31. Os. 106. to 41. Ilse. &L these securities had scarcely attained
a moderate Ms eipmesinat before they are Apia deplorably
sunk to a diasesat.
Demob wen WI to 7 money, and 87 to 1 for time, at the
oommencement of business, and with scarcely a varieties
they closed the some. Iteclueed Threes, 85f to 6. Three-
and-a-Qaartar per Cents., 874 to 1. Long Annuities, 81 I.
15-16. India Bonds, 2 de. to 3 pm. India Stock, 240 to 2.
Bank Stock, 1891 to 1914.
Foreign stocks remain neglected still. Mexican were
caned 28 to 1. Spanish Fives, 221 to 31; the Threes, 34
to 4. Portuguese, 331 to 41. Dutch Two-end-a-Half per
Cents., 67 to 1; the Fours, 871 to 81.
When tb a Bank in its returns for the week
April 3 exhibited an account of private securities whirba. iiJ
=to 13,627,0001., represen bills discounted and
upon. in face of a continued in the stock of
coin and bullion, which was reduced in the thee week by
more than thrse-quarters of • union,' is oddities to the
=blithe which had bore, it was evident te the seeneztheinnet agitalista thst the sake et pee-
peetlea sedgaed by.thalt tinsmiths, mad seateme.
plated mere se lees by the est of 1844, for the
of haaidolli am, bad mod to be strictly o =rent
if the Ilse ef raft* wan me lesspeeesd on. The su
of math k the wash fa qthellea, as now reproduced7l
be Med eapsethithly to Justify thebnpreeeite then prevalent.
Oda ath baba was taw by t704,1711
Us IMO 066411 WO alabakd 'l7 766,700
Taitheathe hos hy 614,340
The ismro4 Ns by —... ..............
TM simlllia =we by
Tbeesly sutetiestleletherypinettheee unfavourable beets
was, on ismer of NAM alder the beaded_ plume depoths.
In these se
ed awl oder dim itnimars, it
was deresd a natter ef duty tie adoissither a Wahl Maw.
aid= to ths Beak &eases el the teadeathe of the alum
they were punning. lie. 15... Woad, the wrath of a
sensible pamphlet pabllsksd by 8. Mee, wad
Co., and the author ales ef two other &air pm*.
pblets on Ireland, and on railways, whisk thew a
ready pea, has sot speed with the seashetha
es arrived at. He charms hat—" When a nation pairs
from • partial tlaaradisa of be crops, it in reality eaters 1
Ad
ta nothing less then it % desersetbn of its oepsdal• and is
it reconcilable NMI that a emainsitiois of tee
circulation s which, while it wield be of
no avail to mitignet inesenethease—a death
of our metallic tressNe atlielt that sash a Imat--treatit
prevent us from bitegies the peedestive Washy ef the
nation in motion 60 tepsir sod mimes It ? " Eves* niece
have justilhd the view whiok Mr. Ward has thus taken, and
which indeed ft will have been seen has inferentially been
coincided with on various Decisions in this department, as
representing City opinion. But we may be allowed to dis-
sent from Mr. Ward's conclusion that the Bank at the time