The Express.
London, England, 1857-10-26 00:00:00

The fund• opened this morning at • fall
of 3 per cent., owing to the extremely
unfavourable advices from America, which
have induced a general apprehension that •
still more stringent policy will be rendered
necessary at the Bank. Buyers have now come for-
ward, however, in the Consul market, and prices arc
now quoted only per cent. worse than at the close
of business on Saturday.
Consols for the 10th Nev. were first marked 881,
and are now quoted 881, " buyers." For
money, the present price is 883 to 3. The
Three per Cents. Reduced are marked 873, 873,
and 873; the New Three per Cents, 88 and
873; Bank Stock, 210 and 2083; India
Stock, 208 ; Exchequer Bills, 15s. to 10s. die.
Exchequer Bonds, 18.59, 973; and India Bonds,
3:is. dia. _ _

Turkish Six per Cents. are quoted in; to
being rather lower. Most other foreign descrip-
tions are fairly supported. Sales are recorded as
follows, viz.:—Brazilian Old Five per Cents., 99;
Dutch Two-and-a-Half per Cents. at 631 (exch.,
125.) ; ditto Four per Cent. Certifs., at 971;
Mexican Bonds, for account, at lin; Peruvian Four-
and-a-Half per Cents., for account, at 76} ; Russian
Four-and-a-Half per Cents. at 97; Spanish Deferred
Three per Cents. at fib and 23j ; the Coupon Certifs.,
at 51 per cent. ; and Turkish Guaranteed Four per
Cents. at 97: ; for the account.
Considerable sensation was excited on Satur-
day amongst the firms engaged in bullion trans-
actions, as well as in general circles, by the
announcement that the East India Company
have commenced to ship silver to India. The
amount which the company have already actually
purchased for transmission to that quarter is about a
quarter of a million sterling. As specified in the
policy of insurance, this amount is to be shipped on
account of the company per the steamer Ripon,
which will leave Southampton for Alexandria on the
4th of November. Including the sum already
engaged on ordinary mercantile account, three
quarters of a million sterling in silver has
already been sold for exportation by tha
opportunity, and it is estimated that the
aggregate remittances by the Ripon will approach a
million sterling. As about four-fifths of this amount
has yet to be procured from the Continent, and as
there is at present no gold on sale in the open
market, the probability of further withdrawal of
gold from the Bank next week is proportionately in-
creased. Relief would undoubtedly be afforded by
the arrival of supplies of gold from Australia, but
none are considered due at present. Nor can the
threatened aggravation of the silver drain be re-
garded as a merely transient feature of the market,
for the remittance which is about to be made on ac-
count of the East India Company must be considered
only the first of amiss. The government of India is
undoubtedly in great pecuniary straits ; for the
alleviation of its necessities nothing but silver
will suffice, and this can be procured in the requisite
quantities in Europe alone, i. e., through London.
Moreover, when the anticipated but long deferred
; home loan is really raised, a large proportion of the
; proceeds will doubtless be remitted to India in
silver The point of immediate interest to the commer-
cial community is to watch the effect of the various
demands upon the Bank of England. Should the
remittances of specie from England to New York
continue next week, in addition to withdrawals of
: gold from the Bank in payment for silver, the
directed may be expected to adopt fresh measures of
restriction.

The shipments of specie by the Canada, which
left Liverpool on Saturday for New York, amount to
about 241,0001. Within a fortnight, therefore, the
remittances to that quarter have reached 370,0001.,
exclusive of the sums transmitted from France.

No bar gold was taken from the Bank on Saturday
for exportation.
The recent superabundance of floating stock on
the Paris Bourse is no longer observed, and hence
the comparative firmness of the market during
the present monetary crisis. It must not be over-
looked, however, that the French funds are now
little more than 1I per cent. above the lowest prices
touched during the Russian war. In the 10,000,0001.
loan announced in March, 18.54, the 20,000,0001.
loan announced in December, 1854, and the
30,000,0001. loan announced in July, 1655, the
Three per Cent. Benter were issued in each case at
the rate of 65f. 25c. per cent.
The imports of the precious metals last week
were very small. Our list includes 78,5001. by the
Heatherbell, from Melbourne ; 10,3001. by thePheeni-
clan, from Sydney; 11,5001. by the James Brown,
from Constantinople; and 26,8501. by the Ripon,
from Alexandria.

The total value of these arrivals is only about
130,0001. In addition, about 140,0007. in silver is
known to have reached the Thames from the Conti-
nent, including 33,0001. brought by the Albion from
Boulogne.
The Custom-house weekly statement of the ex-
ports of the precious metals direct from London
includes 28,220 ounces of gold and 1,000 ounces of
silver, representing a total value of rather more than
100,0001., the whole of which was despatched to
Boulogne.
The shipments of the week from the outports have
comprised 38,0001. (of which 30,0001. was drawn
from France) by the Argo, 8,2001. by the City of
Baltimore, and 241,0001. (as above stated) by the
Canada—all three for New York.
The total shipments of the week, as officially re-
ported, are thus raised to about 387,0001., all in
gold. The remittances in private lands to the Con-
tinent have comprised the sum brought by the
Heatherbell, and the bulk of that ex the steamers
Royal ('barter and King Philip, which were included
in our last weekly summary. As a partial set-off
against the foreign drain, it must be remembered
that the Busk bought early last week about 150,000/.
in Australian gold.
On the Continent the exchanges on London seem
'at present tolerably firm. At Amsterdam the quota-
tion is rather higher, and at Hamburg there is an
advance in the rate for three months' bills, owing
partly to the diminution of the pressure in
the money market. At Paris on Friday the ex-
change on London was quoted 25.25 to 30 for
short, and 24.80 to 821 for three months' bills ; at
Amsterdam, 11.75 for short ; at Hamburg, 13.4,1 for
short, and 13.0) for three months ; and at Vienna,
10.14.

The amount of bills drawn by the East India
Company on their respective presidencies, from the
10th to the 24th inst. (Saturday) is as follows :
£ a. d. Rate of Exchange.
Bengal 3,934 7 31 2a. 2d. pet Co.'s tepee.
Madras 2,782 110 3
Bombay

Total 9,266 9 1
The amount is very small, and the bulk of the
money was probably paid into the Company's Home
Treasury prior to the announcement of the rise in
their rate of exchange.
The James Paton has arrived from China with
428,0001b5. of tea on freight.
The second call on the shares of the Oriental In-
land Steam Company is advertised as payable on the
18th of December.

The particulars are published of bonds repre-
senting a nominal value of 53.800/. of the Permian
Three per Cent. Loan, which have been cancelled
under the sinking fund.

BATVEDAT ETV:IMO.

At the Bank of England to-day the demand for
money was to a fair extent, but not excessive. In
the discount market there was a good supply of
money.