The Express.
London, England, 1850-04-26 00:00:00

MONEY MARKET.

THURSDAY EVIXING.
The Chancellor of the Exchequer has appropriately
followed ap—we will hope concluded—his melancholy
exhibition of financial ignorance or carelessness in the
case of his unfirtunate Stamp Duties Bill, by a fur-
ther series of miscalculations, even more provocative
of surprise than his previous *chi( cement& Of the
final result of Sir Charles Wood's legislation
no doubt can now exist; after the convinc-1
ing figures of our able correspondents, " Scrutator,"
and " A Solicitor," published in our issues of yesterday
and to-day—the bill must be withdrawn, and the
only question that remains to be decided is how long
Sir Charles will continue to trifle with this productionl
of his financial; genius prior to consigning it to the
shelf. It has been proved conclusively that the total
amount of loss which would attend the adoption of
the proposed amended scale on duties on conveyances
cannot exceed 128,1241., or not half the sort at
which it is calculated by the Chancellor of the Ex-
chequer ' • and several of our correspondents, who poe-
ms a preetisal aoquisteete with the eehject, do not
hesitate to assess the real loss arising from this de-
scription of transactions at leas than 100,0001. an-
nually. This view is also borne out by the expel ience
of some of the leading members of city circles, who
have kept up a quiet but watchful observation of the
various mutations which the bill has undergone.
Mach attention has been attracted to the inutility,
already exposed in the E.rpress, of imposing a
stamp duty of Bs. 6d. upon a sum of 1501, when the
same amount can be raised by means of three stamps
of 601. each at a cut of only 35., thus affording a pal-
pable encouragement to attempts at evasion of the
impost. Unless the ad raloreni plan, as advocated by
Sir H. Willoughby, be rigidly adhered to, it would
have been far better for the promised remission of
taxation to have been granted in some other shape,
in preference to having the public mind so unmet,-
sanly excited by these ill-directed attempts at altera-
tion of the existing stamp laws.
The following are the present quotations of the
various United States Securities, u given by Messrs.
D. Bell and Son, in their circular to-day:

Redeemable. Dividends.
rafted States... 3 p. a.
n ...$ .. ..«.«....r
„ ...4 a. -- • .. IOW .. 109 1991
Newyork
lute 3 . •• •
05 ~ 110 111
n :a - ---..—.....1us to few „ 197 $ 98i
Nr....rosemew fork aty...: ".... :: .: . ----ISIS to 1176.0 ... 19304 00—
Feb., Aug. b 2 04
y.,?7, Jas., July
.97
.95

6
larachuretta..ll (Marline Banda) IRA AprU,Oet. 106
Maryland .5 . Jan., July 91 91
Minsinnlppi (PliatePeekoili Go
.6 (Vake Bask) May, Nov. 20
„ 66 67
(Marliag bonds) 16349.66 Jas., nly 73 Li
e "
INS 96 97
Ikeda 6 „
Letters front Antwerp mention a fair amount of
business having been dote in Belgian securities,
whilst all other descriptions were extremely dull, and
prices looking down. The national Two-and-a-Half
per Cents. were in demand at 49; the Four-and-a-
Half per Cents. at 89; and the Five per Cents., 1840-
42, at 971. Antwerp Bonds, Four per Cents., at 91.
Spanish Three per Cent. home debt was quoted 29/.
Austrian Metalliques, Five per Cents., 79. Polish
500 8., 302/. Sardinian 36 f., at 33. Roman Five
per Cents., 1837, 77:. Exchange on London, f. 25.60
for short.
Frankfort letters of the 23rd report an active busi-
nese on the Bourse, with a slight decline in the Aus-
trian Four-and-a-Half per Cents., and in Belgium,
Sardinian, and Bavarian securities. The closing
prices on konday were—Austrian Metalliques Five
per Cents., 79; Four-and-a-Half per Cents., 691;
Four per Cents., 62; Three per Cents., 461; Two-and-
a-Half per Cents., 42. Bank Shares, 1,087. Prussian
Three-and-a-Half per Cent., Treasury Bills, 86/.85 Bas-
ilan Four per Cent., /9117 e, 86; ditto Stieglitz, . Ba-
den Five per Cents., . Sardinian Five per Cent. lire
at 28 kr. 84/. Bavarian Four per Cent. Ground
Rent Beads, Sq. Hanoverian Five per Cents., 1051.
Darmstadt Five per Cents., 1011. Nissan Five per
Cents., 101:. Wurtemburg Four-and-a-Half per
' Cents. 941. Spanish home Three per Cents., 29.4.
Polish Four per Cent. Bonds, 8. 500, 801. Tuscany
Five per Cents. (18-19), 89. The exchange on Lon-
don was 1211 per 104 for short.

A letter from Vienna, of the 19th, says :—" The
precise propositions made by the commission of dele-
gates of all the provinces of the empire, charged with
the re-organisation of the Bank, are as follow :—l.
The insee of a loan of 150,000,000 florins, at 6 per
cent., to be raised by voluntary contributions if pos-
sible, or, in default, as a forced lean; in the latter
cue the amount to be divided among the different
provinces of the empire, and to bear interest of only
6 per cent. 2. The paying up of Ibis loan to be
spread over twenty-flee months, and the loan to serve
for the diminution of the floating debt. 3. The small
bank notes of 1,2, 6 florins to be withdrawn from eir-i
culation, and no notes lower than 10 florists to be
henceforth issued. 4. Reform of the monetary system
according to the German standard, and the irons of
new gold pieces of 5,10, 20 florins. 6. The issue of
the reserved shares of the Bank, but at 800 florins,
instead of the original price of 600 florins, with the
privilege to the primitive shareholders to purchase the
new shares. All these resolutions were taken by the
commission, after due deliberation, and nearly all by
the unanimity of votes. There is, consequently, rea-