The Express.
London, England, 1850-05-30 00:00:00

MONEY MARKET.

WIDNISDAT EVRIFTNO.
The result of the efforts made by the Belgian
government during the last few years to effect a re-
daction in the national debt of the country is exhibited
in a rep :rt just issued from the office of the Minister
of Finance relative to the operations of the special
fund for tne redemption of the deb . From this it
appears thit the sums so applied bare amounted to
3,238,152 f., by which was effected the redemption
of a nominal capital of 4,012,582 f.; and on adding to
this amount the capital redeemed prior to the forma-
tion of the redemption fund, which was in all
24,295,218 f., we find that the total capital amount of
the redeemable debt of the conntry on the 31st
December last was 355,821,569 f. (or about
14,230,000!. sterling) distributed as follows :
Pour per Cent. Fr. 24,171,000
Vireo per Cent.
I Five per Cent., 1840 83,253,240
Fin per Cent.. 1842
Four-ancl•t-Half per Cent. (Convetelon) 90,009,4?5
Four-and•n Half per Cent. (Loan) 82,285,250

Total Fr. 355,827,669
Oa the 31st December last the special funds avail-
able for the reduction of the debt amounted to 886,653
francs; but independently of this sum the managers of
the fund had at their disposal the reserve of the five
per cent. loans to the subjoined amount:
Fr. 4,444,781 applicable to the Five per Cent. Loan 01810.
1,343,375 applicable to the Five per Cent. Loan of 1812.
Fr. 5,788,156
The employment of this capital, however, has been
prevented by the circumstance that the Five per
Cents. have been above par in the market, thus neces-
sitating the suspension of all operations for the re-
demption of this portion of the public debt.
Smyrna letters of the 18th mention a little more
activity in business generally, thee gh the export
market continued in the same languid condition. A
few cheats of opium had been taken at 108 p. per
chcqui, reducing the stook of the old crop on the spot
and in the interior to about 100 chests. The prospects
for the new crop of this drug were greatlt favoured
by the weather. Madders were not in much request,
the total sales being limited to about 650 bales of
1 various qualities at 210 to 240 p. per quintal. Yellow
berries were not in much demand, and a lot had been
bartered for manufactures at the high price of 20 p.
per oke, whilst the market price could not be quoted
above 143 p. to 153 p. 'The transactions in cotton
were hailed to 100 bales Kirgagatz at 2413 p. to
248 p. per ql. Of gum dragon, about 3,000
ekes in the rough had exchanged hands at
293 p., whilst that in leaves was worth
32 p. to 33 p. per oke. The old crop of
this gum was nearly all disposed of, and the new
gatherings cannot be brought to market before
October. Valour* had met with some inquiry, and
about 6,000 qls. of English quality had been taken at
prices which were not made known ; the stock was
estimated at 30,000 qls., bat the high prices asked
alone prevented operations to any great extent. The
business in oil was confined to a few sales for local
use at 216 to 220 p. A fair amount of business had
been done in sugar and coffee; bat iu manufactured
goods there was little doing. The excharge on Lon-
don was quoted 111 to 1113 in beshlicks.
Constantinople letters of the 16th mention that
comparatively little was going forward in businesi
in consequence of the celebration of the Easter holi-
days by the Greeks and Armenians.
By the advice. recently received from the United
States, we learn that the Canal Fund Commissioners

- -
of the state of Ohio have issued proposals for a loan
of one million six hundred thousand dollars, payable
after 1875, at 6 per cent., and a loan of one million of
dollars payable after 1865, at 5 per cent. The loan
is offered for the reimbursement of the loan due Dee.
31, 1850. As a considerable amount of English capi-
tal is at the present time invested in the etate stocks
of Ohio, a summary of the report which tat just been
leaned by the Canal Fund Commissioners, relative to
the debt and resources of the state, may not be inap-
propriate. From their statement it appears that
There has been a falling off in the net amount of revenues
of this department, parity from diminished tolls, but chiefly
from the increased expenditures upon the public works, of
42,000 dole. below the amount received in 1848, and
196,000 dole. below the mamma received in 1847. Appro-
priations have been made for the requisitions °Cilia Board of
Public Works, and the interest upon the public debt has
bees paid. This has required the whole means applicable to
them objects, and no surplus remains.
The domestic debt redeemable at the pleasure of the state
has been called in, and 250,000 dell. appropriated to its re-
demption. Of the above balsam 301,054 doll. 980. has been
appropriated to the redemption of the 7 per cent stock.—
Under the law of klatch 4, 1849, 700.000 dole of the stock of
slater period, at a premiam of from 54 to 8 per cent for
the stork Issued, realising • profit to the state of 41,000 dole.
The indebtednem of the state is thus exhibited in the report:
s.
Total =Mt of foreign debt 50
Total Maid of Mews& debt

reisehmrsalie debt lithe mete 17,300,084 20
Or Mangler Irma this am the f pee esnt. lam for
'Maths waspissmeran is uppoially *dud, the
mega el 1,468,300 0
Ted ela to be paid by the ordinary revenues of the
siassis
By the law of February 24, 1848, becoming operative dur-
ing the present year, a sum commencing with 100,000 8011.0
and inoreertng aannally in the ratio of a 8 per unit. eons-
pound interest, is to be annually appropriated from the
general revenue to the redemption of Ohio state docks.
The total amount of the property of the state entered far
taxation, ea appears in the annual rert of the auditor of the
state for the year 1849 is 430,789,086 00 dollars—being
isereus in the value of personal property, new dlrWarirykf
esclasive of the increased value of lands, over Ike
Menai for the year 1848 of 9,671,094 80 dollen. An
sanual tax of one-fortieth 01 one pee out epos this amount
is addition to the amount heretofore adorning to the Canal
• fond teem taxes, will somewhat exceed the amount necessary
to maintain the present policy of the stet* as above indi-
cated, end will wholly redeem the state debt in 36 yeus.

THIS DAY.
wo o'.
The market foe the home Shads to-daTy open CLoax
ed with
increased fl and at an advance over yesterday's
last quotations. ConwL were first called 963 to 3,
both for present transfer and account, at which
they continued steady, When the accounts from
Paris which appeared is the late editions
of the morning papers, efa report in circulation there
of the Mal of the Bud= ambeendor in London,
threw back priors, and they fell to 961, the lowest
point at which busbies' was done, the present quota-
tion being 963 to 3 both for ouch and time. Tke
Three per Ceuta. Reined mark 951 and ; and the
New d-e-Quarter per Conte. 973 and 97.
Exchequer Bills of all kinds have bean done at 71s.
and &So prem. ; India, Bade, at 904.; ditto under
I,OOOL, at 90e. end 87s. preen. Long Annuities
mark 8 3-16; Lido 30 years, 1869, 7 15.16; ditto
30 yearn, 1860, 83 Bank Stook, 2073 and 207.
With referrals, to the rumour above referred to, it
fails to obtain credence in well-informed circles in the
City, and although the fell& have been temporarily
deponent' in consequence,: a favourable reaction has
already trannneaceer.
The hreiga stock market opened with and main-
tained a firm tone all the morning, bat nine have
been unfavourably affected by the fall in Console, and
are now lower. Mexican have declined to 30,1.
Bislang has been done in the following stocks :
Equador Bonds, at 31. Dutch Two-and-a-Half per
Cents., at 561 and 67; exchange, 12 guild.
Mexican, at awl and I. Peruvian Four-and-a-
Half per Cents., 1849, at 763, 77, and 76.
Portuguese Converted, at 33. Russian Four-and-a-
Half per Cents., at 96, 953, and 96. Spanish Active
Five per Cents., at 171; the Three per Cuts., at 38i.
INCII.IBII FUNDB.—Tess DST.
Beak Ptoek. 1066 71 3r Ct. Oca. Arse. 64i t
pee Ct. Red. Anna.. 96 1 3 per 016.1181 7
3 pet Ct. (lea. Law.. 661 6 healtequee bill., 88e. to 71i.
1011171011 IVUNDS.
rer
OS. aelean lieade. 1 per Ct. Ordeals l6 6
41 pee Delp. Ikeda. 86 8 armada Wend
21 per Oust.. 5 pee Os. Ma.. 1da:,411
rtigt.27:511565 8de..88 6C.Ot=tre.. 76171
mo• c tohatalr.e. 9. r rgt-ilsitg;
Ditto Colon*, var. ammo 174 6
iquielor Ms.. 3 Oda . 371
3 yet Ct. Dam* Ma, 71 3 .311 _
16 per Ct. Dwelt Ma.. 66e ♦2aairsianda.. 31 3
4 per Cl Date! Clete.. 866 6 V 1ia5..116 126

MINCING-LANE.-THIS DAY.
Shoal —The public sales consisted of foreign—viz.,
2,000 bons of yellow Havastaah, of which about one-third
sold, at 12s. 61. to 21s. Bd. in bond ; the remainder bought
in at tally previous rates. 7,000 bags of Manilla were also
offered, and all bought in at full prices, 18e. in bond, and
6d. to 37e. 6d. duty paid. Refined Sugar firm, and
low qualities an quoted 6d. dearer; groccry lamp, 495. 6d.
to 61e.

Conan.—The public sales are going off well, at full
prime.
Corrox continues to wear a very firm appearance.
Rum remelts, dull.
Rion.—This article must be considered dull, although
prices are tolerably well sustained.
Tna remains steady.
In other articles no material alteration.

TALLOW MARKET.—THIS DAY.
Tee market mut be reported without cilantro to-day.
Prices are as follow.: Town Tallow 355. 33. to 33e. 6d. net
cash ; Petenburg Y. C. 041 the spot, 36.. 9d. ; October to
December, 384. 33.; ditto, uparato months, 384.6 d. to 391.

LONDON MUTuAL LIFE AND GUARANTEE SOCIETY.
—Yesterday an extraordinary general meeting of this society
was held, at the offices of the society, 63, Moorgate-street,
for the purpose of electing an auditor in the place of Mr.
George Stanley Ilinchliff, who has become a director. Mr.
George Wilsoo, one of the directors, took the chair.—Mr.
Swain propooed the appointment of Mr. Margeteon, of the
firm of Welch and Margetson, of Chespside, whose business
habits gave an assurance that the post of auditor would be
followed with advantage to the society.--Mr. Thos. Huggins
seconded, and the motion passed unanimously,—Mr. Mar-
Ritmo Thanked the misting for this proof of their confident*.
In accepting the office his utmost ability should be exerted
in the fulfilment of is duties.—The Chairman said there
were three points which parties effecting an insurance looked
to very narrowly. The first was security. They had
been careful in the arrangements of this society
to give ample security to the assured by a capital
partly paid up, of 40,0001. Every share was taken, and
there were 82 proprietors, all of whom they believed to be
substantial. The second point was the certain payment of
all claims arising from policies. In this society the policies
were indisputable, except there had been some palpable
fraud. The next point was to take care that the assured
reaped all the benefit of a joint stock concern. It wee a
well known fact that 150 persons joining together for the
purpose of effecting assurances formed as good an average as
1,600. This society had been and would be conducted with
the least possible expense, in order that the assured might
divide among themselves all the profits. They expected that
the bonuses would be large. The tables were calculated at
about 3 per cent. interest upon the money, but they had already
had so many applications for loans from substantial people,
who offered good security that they would be able to get five
per cent. In forming this society they met together as plodding
tradesmen, their object being to obtain all the advantages of
mutual assurance. And they were not saddled with officers
having larger salaries than they were worth, given to
them because they originated the society. There was a new
class of business sprung up—the combination of a guarantee
fund combined with life assurance. They proposed to give a
life policy in combination with a guarantee policy. Than
was only one risk, though the party had a double benefit,
because if a party whose honesty they guaranteed failed in
his fidelity, he forfeited his life policy. If a guarantee office
charged say 30 per cent for a life policy, and a life office
would charge 37 per cent. for an insurance oa his life, this
office would take the two together say for 21. 10s., so that by
a little addition to the life premium • man was enabled to
give security to his employer, and if he was an honest man
his wife and children had the benefit of the life policy, which
was • strong incentive to honesty. The present board
held its first meeting as a board on the 17th of May,
1849. On the 31st of October, they had prepared the trust
deed, and they were completely registered. On the G.h
November they obtained their first proposal, and on the 11th
Hued their first policy. From the 11th November to the
29th May they had issued 409 policies (the proposals being
648), the amount assured was 70,7391, and the annual re-
venue was 2,3191. 9.. 6d. The average amount for which
each life was assured was 2291.5 a. 7d. They had three en-
dowment policies, premiums not returnable, fog sums
amounting to 4001., and 17, the premiums being returnable,
for 1,3901. ; 12 contingent policies for 1,2001. ; and four de-
ferred annuities, premiums not returnable, for 701. ; and 8
guarantees for honesty combined with life assurance, for
2,4001. They bad had,ss proposals for loans, aad, had go.
eepted 17 for sums amounting to 2,6001. In conclusion, the
chairman stated that the proprietors would dine together
that day at Greenwich, when the affairs of the society, which
had been more suomaeful than the most sanguine could have
anticipated, would be more fully detailed .—On the motion
of Mr. Chambers, seconded by the Rev. Mr. Leask, a vote
of thanks was given to the chairman, which concluded the
Widnes.

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--------
NAVAL DISCIPLINE AT SAN FRANCISCO. —A propos
of Ban Francisco,—we have run tho gauntlet there three
times,, with tholoas, I am glad to say, of only two men—one
an ordinary seaman and useleu character from a funeral
party, entirely owing to the neglect of the officer • the other
an A. 8., drowned (perhaps shot) in attempting to swim
from ths skip. During the three visits to thin port of gold
we have lain five weeks at anchor within the irresistible at-
traction of this most precious metal, with the "
the
fever"
amongst the crew, for which I took the liberty of
bing lead and steel, and so sucoestfully that we only
cot two eases—one, there is reason to believe, from en over-
dose,P whilst in a cold bath, the other for want of the remedy
being prescribed in time. Let me now beg Jack's pardon
for joking at him expense. The loos of a poor fellow under
ugh powerful temptations cannot but be a subject of dap
aareectres:4 tahloslight
dimairma a b 02111 i
le duty(1:1011WO:
wofeitetosterryt peorfutorm our-
orden ; to assist oar trade; to do what French and Ameri-
can discipline had shown !Melt unable to effect ; to prove
that, though surrounded by such temptations as lack was
never before exposed to, and as Frenchmen and Americans
, could not resist, British discipline could triumph—a British
maa-of-wer could maintain her efficiency—could fit oat, at
live miles from her, four British barque, entirely abandoned
by their mews, even to caulking, men, and pack them to
Valnuabc; thug affording to our commerce aid that the
Angulo= commodore had pronounced Impossible to be ren-
eged by say English man-of-war in the port of San Fran-
(duo. Moreover, we watered with our own bulk killed
our own beef, brought off our daily supplies, paid the mis-
ogamy Welts of ceremony, and hia dalloommanisations
with Obs abets and shipping—under most d I
mho; bet still we did all we wanted to do, in @Ole of a
criYew (" yellow fever"), u thoroughly as Elkus had
rslibiunusual in oar neighbourhood I
warn eh captain to take care that his men do not pitch
their out of the boats and desert by wholesale, as
Feelids sad Amerioans have done ; the man who was hung
at San Francisco for throwing a mid overboard being an
Itnglishman, a fine young men, and a deserter from the
Ada.—Strilor's Letter.

I Alabglele.lllLAL Is:
I"-vim
Maks (Gt.

.71r.r1

••inmates
slim SioarVallny
=olv., and D. 417
ypd.,advdtladvar.
_ Dix witheataraanutadi

t Boilii—al;
Brldisi andlimler ... ...
8 ... ...

Di.htlo

175.-priTir:ll:'

e.i.eias

EaltDo.ritaaas
D0.(b.t0..)n p. Ct. prof
D 0471.1004 7 p. Ct. Pret
Eastern Count.e4 . .
Do. New Pref. 6 p. Ct
Do. Jot., 3 p. Ct.. No. 1
Do. do. N 0.3
Do. N. it E. 6 pH Ct
Do. do. 3 per Cent
Do. New
Neaten Union, Win •A
(late U. db.)
Do. dabs B. and C. din,
fl
et Li asap
Scrip
hire (res. 6
."
Do. New
I Be Do. New I sl har
nt IlineentehreGnaws.

95
20
25
25
111
23

!disbar End Otaigow.
I Butar, t D.
• Psalm sad Italsosth
I Otoneseter at Dram Forest
Grist Northers _
Do.* share; 6,Deferred
Do.‘ &arra. B, 6 p. Ct-
Do. 6per Cent. Pref....
Ot.lowM and West. (Ire.)
1 Do. Eighths
Great North of flaglaad...
Do. New, S4O
Do. New, S9O
Do. New, XII
Great Nesters
Do. New, St 7
Ball and Selby ..
i Da. &area
Lasssater siad Caniale
D 0.111,268
Lantaah.rr alaTor.kshlre
Do. Thirds
Do. New (Seer t p.Ct.►..
DolludeeralleldatStkeff.
Do. Neat Biding Voice
!Ueda and Bradford.. ..
'Leeds and Think
Do. Pref. II &Cast No.l
Do. Nei
Do. - - Do. N 0.3

lorPref. Qua Were 115ii7
Ili Loudon and Blackwell ..
I Los., Brighton, & COW
100 D 3. New gun. 6 p.Ct.
9 Do. guaranteed 3pp C.
lets CroydonMktg...
/0 Do. het 5 par
10 De.Cocert. S p.Ct.,1052
111 London and Greenlet& ..
10 Do. Preference
10 London Lt Notth.Wetters
12 Do. do. Now 1 abuts..
13 Do. Mtn, ...
1 Do.SIO cod B.(C;
/11, Lowden & South-Western
121 Do. New, S3O
14 Ds. New, F4O
6 Do. New Preference ..
n Lowestoft Goar.4 per Cent.
IS
ILoseleadarry&Esickilleo
6 Maack.. Bas.,andYatloc.

ItosoC., Shof.,ALloadioola
Do.l shun, No. 1
Do., /tow SIO Pref. ..
Do. Man& Lincl.Unlot
Do. iio Warr_

Lio. Bina. and Deily:
Do. Conn. B. & B. Ro. C.
DoSzewashValierPref.
Midland OreatWon. (Ire)
Muldiesbrolaßed.Bp.Ctge
Newcastle acid Cazbale
„Nei% raarki.t .
Nwfolk
Do. New RIO

iiietTsic7a

North British

1-6.7.1c;t7;11« .
, North Staffordahirs
Oxford, Wore.,/kWolote.
'Preeton and Wyr•
Do. a shares (A) .
Read.,Ouild., and Ratiale
Myron and . .
Da.Shapreth Extension
,nontNati Eattrat

!goad& Midland

Do., Uses B
Do., Now Ona;ant;ol...
Shrowpbury and Monet
(Bor. W. Jim.)

BO: 5;747.4
Do. ,
per Cent.
511ropeh Union
eoFth Dorn

ail
10
47
14
the

1-57. FTWZ•ni; :::
dooth etaffordatire
14ionth Eastern ...
Do. No. 5...
Do. No. 4 Registered ...
South Wales
6. Yorkd.,, Don. and 0001 e...
Sheffiel liotherbani, and
I Goole.N.DL trim p.Ct.
WaterfordandKilkenny...
Wear Valley, 6 p.ll. pia
' Do. do. do. . .
„iWnitetiavan and Vurneor
Wilts, tionierset,Ss Way
Tork,N•weaatle&Barviek
Do. Eat.(Yorit&Newca.
Do. O.N.M.PareherPret
Do.liartlepool Dookkill
York and Noah Midland

Ii". niamoo 7:

12 d
1711 1
818 89

$7 f 61

le4 6
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1211112
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431 11

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