Northern Times.
Liverpool, Merseyside, England, 1860-02-02 00:00:00

THE MONEY MARKET.

During the month just ended the range orebnsols
has -beeris2 lielr cent.. The fall eitablished4l per' cent.
On the Parisi Bouree,- during the month, the fall has
been about 1,-1- per cent'. -
The rise itY the Bank Of England rate of "discount is
regarded with general satisfaction. Should the drain of
bullion continue, a fresh advance in, the rate will of
course ,soon be decided. upon. The amount, off gold
withdiawn from the Bank to-day for exportation was
£80,000,, making an ascertained total of £592,000 since
the date of the last return. --As favourable indications,
hOWever, it is observed that the Continental exchanges
have slightly, improved, and that the remittances, of gold
and silver to Calcutta and China, by the steamer of the
4th February, are expected to be, below those, recently
witnessed. ' The demand for money at the. Bank of
England was extremely active, notwithstanding the ad-
vance of 1 per cent. All:the greaV•monied •establish-
inents,
.have been extremely c4utious.. In all cases
4 per" cent. was the minimum. For bills having; four
months to run, 5 per cent. was asked; whilst six months'
bilis were almoSt universally- declined. The Bank has
also to-day explicitlyiefused bills carried to them by
the other dealers in money-.
—Thy or two ago, on the
Stxick-Exchange, loans. were procurable on consols at
21 percent.: to-day:the rate was as high as 5 per cent.
—Daily News.

An immediate movement of 1 per cent in the Bank
rate created no surprise. There can be no certainty,
until a week or two shall hive expired, when that will
prove sufficient to check the drain. "In many quarters
the belief is that 5 percent. will yet be-touched. At the
same time, however, 'it is plain that the pressure is
likely to be more sharp than permanent. The rupee
stocks have already fallen about 2 per cent. from their
highest point. The pressure here will hasten the re
gumption of specie remittances from New YOrk, 'and
likewise increase the caution of Australian exporters,
and cause, goods to be sent in preference to nearer Ipar-
kets. On the whole, therefore, the position and pros-
pects 'of the country remain healthful, and this convic-
tion seemed to have considerable effect to-day in limiting
the tendency to depression in the Stock Eichange. In
the foreign exchanges there' was 'a general though not
very important, advance. _Although the EngliSh funds
opened heavily, they rallied in the afternoon. The
closing prices were per cent higher than yesterday.
The discount establishments and joint-stock. banks have
'raised their rates and allowances in the usual propor-
tion. The demand for discount at the Bank to-day, at
the increased rate, was, extremely active, although not
'quite to the excessive extent of yesterday.' In the open
market scarcely anything could be done under the Bank
minimum, and for bills of three to -six' months '5 per
cent. wasdemanded.—Times. •

YESTERDAY'S MARKETS.

LIVERPOOL COTTON.

The Cotton Market to-day has been rather quieter,
without.change in price. The sales—including 40 Per-
nambuco at 7/d. to 81d. ; 60 Bahia at 7i.d. • 300,
Maranham at 70. to Std.; 1,100 Egyptian at lid. to
11d. ; 700 Surat at 34d. to sd.—are reported 8;000
bales, of which 1,000 are on speculation or for export.