The Express.
London, England, 1850-04-04 00:00:00

NORTHAMPTON RACES.

THIS DAY.

(37 Mph% Telegraph.)

EARL SPENCER'S PLATE of 1001.
Breasts .. .. .. 1
Aloozo .. • . 2
ALTHORP PARK STAKES for two-yrs-old.
Receipt filly .. .. 1
Prestige
.. 2
Bookhound .. .. 3
PYTCHLEY STAKES for 3 yrs olds.
Compass .. .. . 1
Oivs and Take .. .. 2

MONEY MARKET.

WIDNZSDAY EVININO.

From Matfett', there is no tern----niereial--- newe;fwan
interesting character, the markets being dulls The
demand for breadstuff' wee priocipsll7 local, and of a
retail character, but aces transactions had taken
plus in flour, en American aceonat tar July delivery,
at 21s. 6d. for superfine, and 22e. to Us. 6d. for extra.
Much of the Lower Canada wheat was also finding
its way across the lines. Pot ashes were quoted
at SOs. ; pearls, 28s. 6d to 28s. 9d. Debentures were
mane and nominal at Ito 2 dia. Of shares in the
Montreal Bank, considerable sale, had been made of
late, at 4 dis., whilst Ci'y Beak shares had exchanged
bards at 34 dies.

Tbe question of admitting foreign vessels to the
navigation of the St. Lawrence is naturally one
which excites the tersest attention of the Canadian
public and press, and some further details of the
intentions of the government authorities on the
subject have been made known. A commu-
nication has been recently addressed by Mr.
Ryan, the President of the Montreal Board of
Trade, to Mr. Secretary Leslie, asking for information
as to whether it is intended to recommend her Ma-
jesty to exercise her prerogative hy preventing
foreign vessels from proceeding up the River St. Law-
rence beyond Quebec, and pointing out that such pre-
vention would virtually place the seaport of Montreal
under the same disadvantages, as regards her foreign
commerce, as she had to complain of before the pass-
' ing of the new navigation act. Mr. Ryan further
stases, that it is more than probable that
engagements for foreign vowels to proceed
from sea to Montreal are being made in England,
and that consequently it becomes of the greatest
moment to the commercial interests of the city that
the views of government on the subject should be
made known as soon as possible. In answer to this
letter, the botrd received a copy of the report of the
executive council, to whom his Excellency had re-
ferred the matter, as expressing the views of the
government on the subject. The substance of this
document is as follows :

The committee of the executive council have given their
most 1111XiM111 COLlSideratioll to the letter of the president of
the Montreal baud of trade, with a view of recommending

your esteelbncy to afford the; desired relief to the commenWl
interests of that important city, provided t►at such can be
extended without in any way conceding to foreigners the
right to the free navigation of the St. Lawrence. In delibe-
rating on the subject, the attention of the committee was di-
rected to the course taken on a ft rmsr occasion under the
instructions of her Majesty's Imperial Government, commu-
nicated to your Excellency in Earl Grey's despatch of the
10th of May, 1847. At the period refemd to, the Imperial
Navigation Act had been suspended; but it was not held as
a C31111(lUtlICII that foreign vessels could proceed up
the St. Lawrence beyond Quebec, or obtain • clear-
ance from any other than that port; neverthe-
less, in order to afford relief to the trade of
Montreal, instructions were given by the commissioners
of customs to the collectors in Canada, to grant Sumacs to
foreign Tassels to proceed from Quebec to Montreal in ballast
and to return from Montreal to Quebec with cargoes of grain
and other articles enumerated in the act 10 Vie , cap. 2, so
as to clear from the latter pin,
The committee of council are respectfully of opinion that.
without in the slightest degree infringing on the right
of sovereignty ever the waters of the St. Lawrence,
your Exoellency might authorise the collector of Quebec to
grant licenses to foreign Tassels to proceed to Montreal either
with or without cargo, and likewise authorise the co:lector
of Montreal to grant licensee to such foreign vessels to return
with cargo to Quebec, eo as to clear from that port. Such
an arrangement would, in the opinion of the Committee of
Council, afford the only relief which it is possible, under
existing circumstances, to extend to the trade of Montreal ;
but they have little doubt that it would effect the desired
object without in any way compromising rights which, the
Committee of Council are of opinion, ought at all times to
be carefully guarded.

The returns of the gross revente from the Cana-
dian customs during the put year are not of a nature
calculated to bear out the sasertions of those who
complain so loudly of the progressive decay of the
trade of the province ; but, on the contrary, afford
evidence of increased commercial movement, and of a
large augmentation of the number and requirements
of the co..— - The total receipts from the cue-
.di --it 430,6111. Is. 7d., in-

toms during 1849 were 450,5111. le. 47d., being an
crease of no less than 116,4811. 121. 10d. over the re-
ceipts of 1818, which were only 334,0291. Bs. 9d. The
total value of the goods imported into Canada during
the year was 3,002,5601., of which 2,733,3601. were
subject to duty, and 269,2001. free from duty.
From the official statement just issued of the aver-
age amount of liabilities and assets of the Quebec
Bank, daring the period from the lit of September,
1849, to the 28th of February, 1850, it appears that
the total average liabilities of the bank during the
month ending the 28th of February last amounted to
110,7371.55. 5d., distributed as follows: promissory
notes in circulation, not bearing interest, 44,3251. 15s. ;
Walton due to other banks, 4731. 7e. 51.;
cash deposits, not bearing interest, 46,4381.
to
ditto, bearing interest, 19,6001. The t
average amount of *meta for the same month
was as fellows : Coin and bullion, 27,0011. 4s. 3d. ;
landed or other property of the bank, 6,5001. ; go.
vernment securities, 12,0001.; promissory notes or Ws
of other banks, 9191.105.; balances duefrom other banks,
2,5821. 12s. 7d. ; notes and bills discounted, ae other
debts due to the bank, not included under the law
going heads, 168,6611. lls. 63.; total average ens*
218,6641. 18e. 4d.
The accounts received from California by the Ca-
nada extend to the Ist February. The commercial
advice, from San Francisco represent the market as
greatly overstocked with all descriptions of merchan-
dise, which, occurring at the height of the rainy
season, when scarcely any business was doing, had
given to prices a downward tendency, and
until some favourable change in the weather
took place, there was every prospect of the
market becoming still further depressed. The
general aspect of monetary affairs continued the
same as:at the last departure of the mail. It is sup-
posed that gold dust must have accumulated in the
interior, and that when the rains have subsided, and
---..ieation with the mining districts is re-

established, it will Gide become- plentiful in the
market. In the reseatune a constant drain of the
precious instals was going on, of which it woe diffi-
cult to hem any Generate calculation ; the amounts
going to ll
a parts of the world, particularly to
Mk and Sydney, were very considerable, besides the
regular remittance; which every steamer carries
away. Money was wry scarce, and it is stated that
so mach as 10 per cent. per month was given for
disirmat of bills. In the rates of exchange there was
M alteration. Several acts had paired the legisla-
tor* ; ate to provide for the appointment of pilots for
the different ports and harbours of California ; and
another which subdivides the state into twenty
fly counties. Another act was under coast-
deletion to exempt from forced ale, in certain
the homestead' and other property of heads of
This measure, it was thought from its
protective character, would onooursge the Emigration
of *milks to California. A bill wan about to be

iron& forward to relict a temporary loan to the re-
test only of 300,000 dole., in bonds bearing interest at
I per cent. per month, to be limed at par, and to be
received at par, with the interest thereon, for all de-
mands due to the state. Under the oonstita-
tics, the first legislature only can contract

1 MI e sad that debt. it is estimated
win ast ia the aggregate exceed one million donors
The ash ill the heads of the governor collected
Ikon lisps*, unseated to 800,000 dollars. 'rho
peeint if reritenagg the capital to some central loos-
ties at all osmosis by Ka and land was
still or was favourably regarded by nen-
ben the ore. The in
from the
plants is of interest as regards wising olotra-
thee, they being suspended either by the anew or
the swollen condition of the streams.

DUBLIN UTOCUL—Asun. S.
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Pair ft limartollie Deb. (Go% ssewity, OIL GI 414
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Delft ail irtivestiaall