The Express.
London, England, 1860-09-11 00:00:00

MONEY IfARKET.-7

0.41'.

Two o'CLacs.

The film's' to-day are rather firmer, although
business i, limited. A good effect is produced by
the fine woather. Consols are quoted about 1, pee
cent. higher than yeiterday afternoon. Britiidt
railway stocks are likewise rather better.
At Paris this morning, *molding to Mr. Reuter's
telegram, the Throe per Cent. Rentes were quGted
67fr. 855., showing no change since yesterday.
Consols are officially marked 93, k, and 93 foe
money, and 93k and for the aevuunt. The
present quotations are 93k fur cash, and
93} " buyers" for the Ilth of October. The
official business report is aa follows : New
Three per Cents. 934, 4 ; India stock, 215 ;
ditto Five per Cent, stock, 1859, 1034,
; ditto Four per Cent. Debentures, 1858, 91,4 ;
ditto 1859, 964, i ; Five per Cent. "enfact.t"
rupee paper, ; ditto Five-and-a-Half ice
Cent., 1024 ; Exchequer Bills, 3s. prem., par.
. .

The foreign stock market is dull. Mexican &nein
exhibit flatness. Buenos Ayres are steady. The
Turkish Loan of 1864 is quoted 731 to '4, and that of
1868, 571 to I, ex div. Sales are recorded as
follows :—Brazilian Four-and-a-H.llf per Cents.,
1800, 87/2 ; Buenos Ayres Six per Cents., for
account, 98 ; Chilian Four-acd-a-Ralf per
Cents, ; Mexican Three per Cents., for ao-
want, 211:, If ; Portuguese Three per Cents., 1863,
for account, 44, 431 ; Spanish New Deferred
Three per Cents., for account, 324 ; ditto Pas-
give, 22 ; fat, Committee's Certificates, ail ;
Turkish Six per Coats., 1854, for account, 75} ;
ditto Six per Cents., 1858, 57k, ex div. ; Vene-
zuela Three per Ceuta., for account, 23.
Amongst recent commercial publications is
" Treatise on Annuities " (C. and E. Layton),
by the late Griffith Davies, F.R.8., actuary to
the Guardian Assurance Company, and to
the Reversionary Interest Society. The vollnie
is published by Mr. Davies' executors, who point
out that although it is deeply to be regretted
that the first part was not completed by .'lr.
Davies, so as ti make it a comprehensive trea-
tise on life assurances as well as annuities, they
believe that it will be found worthy of the atten-
tion of all persons connected with the science of
life contingencies, if only because it contains exclu-
sively a complete set of useful actuarial tables
based on the experience of the Equitable Society.
The work altogether is one of a very high order.
The discount market yesterday was easy. The
beet bills were taken at 3i per cent. Little busi-
ness was accordingly dono at the Bank of England.
In the Stock Exchange there is a glut of money,
and to 2 per cent. can scarcely be obtained for
loans on government securities.
An inota:reent of 25 per cent, fell due yesterday on
the East Indian Railway Company's Debenture Loan
of 1,500,000..' but the amount actually payable is
understood to nave been less than 70,0001., the rest
having been paid in advance.
The transfer books for the New Three per Cents.
close this afternoon.
The fortnightly settlement in shares and foreign
stocks will commence to-morrow (" oontinnaties
day"), and terminate on Friday.
The amount of gold bought by the Bank yest.e.
day was 64,000/. As soon as it is refined, the
81,0001. by the Persia will probably be sent into
that establishment.
The Delta will take to-morrow 35,000!. for
Bombay and 800/. for Alexandria—all gold.
The Londeo agents of the Illinois Central, Ra-
way Company have received the following report
from the Chairman of the Executive Committee in
New York. It fully confirms the previous accounts
of the enormous yield of the grain crops in the
West

Office of the Iffitrobi Central Railroad Company,
New York, August IJ, 1360.
Misers. Robert Benson mid Co., London.
Geutlensen,—The traffic of the third week was the largest
this year-4U.180 dots. 75c.. against 45,882 dole. 38c. it
1859, a gain of ?3,498 dale. 37c. and 70,285 dots. 17c. foe
the three weeks. There haa been a letter supply of seise
eels at Chicago within • day or two, and we notice that
the Michigan railways are biAling for grain to be taken by
boats from Detroit to Toledo. These movement', with the
better prices reported from your aide by telegraph
will to 17th inst., bly help the price of grain .tg a:n,
and give us a busioess the first week of September.
The result of the fourth week this mouth cannot equal the
third. 1 am glad to report an increase in the priesenwr
traffic of
.4,103 dole. 92c. the third week.

The sa/e4 of land thin month will be between 60,000 and
70,000 dole., the colloetory about 50,000 dole.
The receipts of pain at Chicago since Ist January already
exceed 20,000,000 biothels, of which nearly 13,000,000
bushels are of Indian corn of the old crop. Not one-
twentieth of the wheat crop has moved, and we have the
most extraordinary statement* in regard to the growing
corn crop. Many fields will average 80 bushels to the acre.
Cottle and hogs from adjoining states are being sold and
driven into Illinois, to be fattened from the abundance of
pain in Egypt.—Youra Lc.,
-Nigher]) Tactius F.. WALLIS,
Chairmen d Executive Committee.

The Brighton Railway traffic return shows this
week an increase of 1,7871. ; and the &Yak
Eastern au increase of 1,1201.
The traffic return of tue Great Western Railway
of Canada, fur the week ending August 24, siu.tvit
an increase of 7161. sterling, compared with the or-
responding week of last year.
At St. Petersburg the tallow market is firm, at
49 ro. for all September. The exchange comes
quoted 36d.
With reference to the indigo trade and the
serious check to the cultivation of the plant in.
India, the report of Messrs. Ltyton, Hulbert, and
Co. contains the following :
. . . .

With the exception of a feir orders for fine Russian
pta-
lilies, and for dry leaf Madras, there has been no demand
during the fortnight ; and the near approach of the October
indes, nor mo course of declaration for the9th of that month,
renders it improbable that any improvement will take place
in the interval. 10,000 chests; appear upon the declaration
• boots. The catalogues may ultimately comprise 13,000 or
• 14,000 chest,. The deliver:es closely approximate to those
of last year. The advice* from Bengal (July 28) leave no
doabt that the resisttuce of the ryots to the manufacture
of indigo has assumed a most serious aspect. In =My Lc-
tories ru JOINOte they refuse to cut the plant for the I,:nro-
peen owner, and in some eases they cut st and throw it into
the jungle or the river. Should these destructive preen d-
ings be partially overcome by some feeble measure of •
tardy and unwilling government, and the greater part of
the crop he secured for this season, it remains a subaxt of
Esse consideration whether the cultivation of indigo IT
4•ropaut capital and skill will nut speedily die out iu she
districts of /longs', and eventually in the whole of British
podia
. _ .

The Star of the North has arrived from China
with 1,181,300 lbs. of tea.

MONDAY EVIMING.
Consols, which closed on Saturday at 9311 to 7-16
for the 11th Oct., opened this morning at the same
quotation, and ahead flat at 931 to 3-16. For money
the last price was 9n to 93. The official business re-
port is as follows :—Three per Cent. Consols, for
money, 9,N, a., I, 93 ; ditto for account (Oct. 11),
934, 3; Three per Cents. Reduced (transfer books
shut), 931 : New Three per Cents., 931, 4,4, ;
India Five per Cent. Stock, 1869, ill,; ditto
IBonds, 6e., 3e., 65., die. ; Five per Cent. "en-
faced " rupee paper, 94, ; ditto Five-and-a-
Half per Cent., 1021:
Indian government securities were quiet. The
Five per Cent. rupee paper wasrather more offered.
The Five per Cont. stock of 1859 retuning quottA
1031 to it. Exchequer Bills were dull, at par to 3s.
preen.
The foreign stock market was dull. Buenos
Ayres Six per Cents. were rather flatter, being
last marked 96. Mexican Bonds opened at tho
improved price of 211 to 22, owing to the state-
ment.' in the American journals, but relapse.) iu
the afternoon to 211 to 1. The Turkish Lan of
1868 declined 1 per emit., leaving off at :-,71
to ak..sliv. The Loan of 1834 was Nip-
rdat.. -Saturday's quotation of 731 to
Pernvian Three per Cents. were in de-
mand, in tuticipation of the purchases next
month for tholalf-year's sinking fund. Purchawe
took place Hi high as 741. Venezuela Three per
Cents. were Mit

'.V Tilt UZI AND 411101111 0? ?MI

(Frees the Itsiminer.)

- -•
Our atteut ion iedirected to this subject by a letter
Irmo. Sur &tisane Brodie, is the 21wer, charseterierH d by
all the knowledge, osaylour, and seas which belong to
whatever ornaments from this physician and
plulo,•pher. He had Moo asked, it would seem, his opinion
A the utility of a perharnentary inquiry into the growieg
eel of tobeceoimuoking , sad, like • rose of sense, he 13
41 r"uroe WILMS it, probably agreeing with es that • blue
hook on such • subject would to se imilfeetuel sad as
lob,xioun as King James's "Coustarbiset." " I am
not." cays Bar Beejamin, "prepared to naliesit to the
wrinkle of thou who hold -llist, under all Wrest
stanwie, and to betrayer moderate an attest it be
practiced, the smoking vd tobseco it prejudicial. The
that effect of it is to mote aud treaquillise the mew=
system. It allays the peer of hunger, and robe's, the
showy feelings produced by rotund sad bodily ''onion."
The general drift, however, of this letter it to modems the
practice.
That belittled tobaccoromiking proves prejudicial to UNDO
00111Stittithon• s. as ectabludied fact, and that the exemeive
me of it will injure the very best constitution m equally
certain. but 0 appears to us that this is all that can be
safely affirmed, and it applies to any other stimulant what.
&serer to malt hquor, from Loudon beer to Burton ale
to ell al..ohobc drwil• us, from brandy to blue ruin ; to wines,
from i•Lampagne to Cape Markin to hemp-juice, to opium,
mon to tea and coffee. Borne of time are roars likely to
be need to rumen thea others, but with the exceptions of
t. and coffee, tobacco is perhapi the lead likely of all.
The cousumptioe of tobacco with us hes only kept pace
with our increase ia population—a remit not to be won.'
died at, coomideriag that we are paying a yearly tax of five
millions and • half for our iodolgeoce. We never, is fact,
ahould have heard one word about the abuse of sumo ldng if
our youths of the upper and middle classes had toot of late
borrowed cigar amebas from the 13mousavis, in the same
way in which more recently they have borrowed beards
win the Turks. Let in look, thee, to our consumption of
cigars, the source of all this outcry. Accordiog to the most
recent public returns, the whole quantity of cigars entered
=amity for ocusuroption was 213,63911 m. and their oost
without duty, in reeled numbers, was 126,000/. The duty in
nand numbers also was 106,060/., making the wholesale
price 2311,0001. This sum, however, is not the cost to the
consumer, who, of cower pays the retail price, which we
may compute will raise the whole cost of the aigan to about
330,000 f. Beside, the he., tax, which i• very nearly
f. 6d. a pound, it is to be observed that cigars before
thoor ompootation had been already loaded with a monopoly
tax in the Spanish colonies which produce them, the weight
of which may be judged when we Mad that the price at
which Cubs cigars are edged at the Oustom-house is
IL,. Id., whereas the highest ordinary maindsctured tobacco
is re more them 100.
These facts sufficiently prove that the seeokias al cigars
is an expensive luxury which few caa Jade* m, but we
may allure some details in illuetretios. A pesad weight
,
usually containsabout 120 cigars of 0164111 S Ye, Od they
are retailed at the avenge rate of 3d. each. If, thee, the
smoker consume but six eigen a-day, or 2,190 per seam,
be eapends in his indulgence the sum of 7• 6d., about
the average wages of a rural day-labourer. If be be sot
enough Alta ouch note there are—as to COliaoMil doable the
qu uoity now named, then he expends in tobsecoeinoking
• sum that would maintain tee individuals o/ our rural
population.
13: I then, as to the number of cigar smokers, supposing
an smuggling, and there is sot • great deal, the queenly of
agar tobacco, consumed would, at the ,Me we have stated.
yield 25,436,440 cigars ; and if the avenge consumption
of individuals be takes at six cigars aday, their whole
member would be so more than 11,614, or about one
smoker out of every 2,h6.3 of oar present computed popula-
tion ; and ao to, the contribution of the cigar-smokers to
the lama° revenue, it forms but • pour fifty-fifth part of
the whole amount.

Pot our owe part, our main objection to tobseenumaing
anusista in the practice being somewhat 11006.101,0 US and hard
to reconcile with the niceties, difticultiss which are weeder.
ably aggravated at present by beard and moustache, good
absorbents of soot sad empyreumatic oil. Ryes Sir Henja-
lIVO Brodie's moderate estimate of the ill effects of tobacco
we fancy to be somewhat overcharged, A drop of its ewes.
Gal oil on the Owegoe of a cat will, he says, destroy life in
ten micutev. No doubt ; but 100 drops distributed over 36.1
days would hardly have any effect at all on the cat, which
has not the vital powers of a chill five years old.
We dement also from the applicability of the instances ad•
awed by Sir BeuPonin Brodie of the pernicious effects of
emcees io tobacco-smokieg,! sad which be holds up to us as
ywrilings, namely, the decline of the Red Wiens of Ame-
rica, and of the Turk.. The Red Indies@ had been smoking
fer sirs before we luny of their very ealtesee—indeed it
was from them we lemised the practice; and they ewiffht
lave smoked an to the latest posterity without diminution
of their numbers, had not Ere-water, gunpowder, noel the en-
s:ramekin/et of cultivation on their hum ting.gromods proven toil
it. As to the Torts, it is assuredly neither excises of tobacco.
veseibrig, or of aay other vicious indulgence,that has changed
their relative medico to Europeans. They have not declined
at all, fur they have at present as much courage and more
knowledge and iatelle;eilce than they had under Solynian
the Magaifteent. It is Got the Turks that have fallen oft,
but we that have advanced et a pace w:th which an Asiatic
rase, albeit planted for f.,or centuries in the choicest regions
et Use globe, cannot keep up,