The Sun.
London, England, 1855-04-28 00:00:00

ON EY kA RKET

AND
()MMIF i l CI2II, rNT

CITY, Two o'CLocK.

The Cotton Market at Liverpool yesterday
ruled firm for all descriptions. Uplands realised
5,1 d., Mobile 51d., and Orleans 6d. The sales
amounted to 12,000 bales. Railway shares opened
with a heavy appearance, but became firmer sub-
sequently.
The financial accounts of the Bank of England
during the week to last Saturday were of a nature
to show that the demand for money had again
fallen off, the other securities being again lessened,
and the total of the precious meta:s was increased.
The. public deposits were augmented by the pay-
ment of the loan deposit, and this occasioned a re-
duction in the sum to the credit of private cus-
tomers. The Bank appears either to have increased
its holding of stock or Exchequer Bills, or other-
wise to have made advances thereon. Compared
with the previous week, thechanges were as follows:
Active circulation... £20,282,865
Decrease 100,965
Bullion

Increase
Rest
In crease
Public Deposits
In crease
Other Deposits
Decrease

32,848
3,127.862
4.416
4.450 684
1,730.024
13,019,567
1,214,229

Seven-Day and other Bills
Decrease
Government Securities
In crease
Other Securities
Decrease..
Notes unemployed
Increase

928,357
19,334
14,274,373
600,660
13,032,442
233,626
8,089,425

121,890

In enforcing the necessity of an improved and
modernised plan in the matter of new loans, the
editor of the Bankers' Circular cites the introduc-
tion of unrestricted competition in commercial
pursuits, and then remarks as follows :
"We ask for the same liberty in our finance, and the
total abrogation of a system that places the interests of
this great country in the hands of any single individual.
Sir Henry Parnell, the greatest financial reformer of his
day, unsparingly condemned the system of restricting
public loans to a single contractor, and says—
" ' The consequence of this course of proceeding has
necessarily been that one individual, or one banking or
mercantile firm, has become the representative of a body
of subscribers, willing to take the loan on certain condi-
tions arranged amongst themselves, but the individuals
making the offers have had not only the interests of
the subscribers to their lists to attend to, but their own
special interests as contractors. These have sprung up
from their subscribing large sums, with, however, no
intention of paying them, but wholly with a view of
making a profit., by selling their new stock immediately
after they have declared to have got the loan. '
"It is time for the country to decide whether the
basis of contracting loans should be confined to its pre-
sent narrow limits, or be thrown open to public compe-
tition. We final assured that it is only by adopting the
latter course that we can ever reform the principle of
borrowing money. Why, we would ask, should not the
mode of borrowing by the public be reduced to the sim-
plicity, of a merchant borrowing from his bankers. As
a correspondent, whose letter we publ,sh in another
place, has remarked, why should not the Government,
whose credit never was impaired, have the full value for
its bond ? Does a railway, (1r any other public com-
pany, issue debentures for 5001., and agree to repay 750/.,
or any other sum above the expressed amount ? Specula-
tors may talk about the advantage of this or that (eseription
of security, but the only sound principle upon which a
nation can borrow, is that practised in daily life, and
sanctioned by justice nnd cJmmon sense ; and, if the
nation would secure itself from the ultimate consequences
of increasing our huge debt, it mus'; boldly repudiate
every other."

Yesterday afternoon the quotations for bills of
exchange, drawn here upon the principal Conti-
nental cities, were scarcely so high. Paris, 90
days, 25 45 to 471; Hamburgh, 13 8/ to Eq. ; and
Trieste, 12 45 to 50.
The exports of the precious metals direct from
London during the week to Thursday last were
334,498 ounces of silver, and 860 of gold, all to the
Continent.

The ship Vimeira, from Sydney, brings advices
only of January 10, and has, it is stated, but 178
ounces, and 5001. in o•old. The Lady Ann, which
left January 17, is also off Falmouth.
The English Stock Market has been rather firmer
after the very perceptible heaviness of yesterday
afternoon, induced by the sale of 500,0001. of the
new loan by the Commercial Bank of Scotland,
which had an allotment to that amount, and the
rise in flour. The rumour of Lord Panmure's
resignation also had an effect, though not confirmed.
Consols have been 88"4. to 89k both for transfer and
account. The New 3 per Cents. have realised 88k
to 881, and the Reduced 87g- to 871. Exchequer
Bills hive been 4s. to 78., and ludi Bonds 12s.
premium. The New Annuity is steady at 16 3-16ths.
Nothing has been done in the Omnium, which
closed last evening at k to I.
In foreign Stocks there is scarcely any change.
The Turkish Bonds have been 731 to 73. Rus-
sian 5 per Cents. have been dealt in at 98. Sar-
dinian are firm at 86!, Brazilian Small have been
quoted 9312.
The following are the nominal prices of foreign
stocks :—Grenada Deferred Bonds, 6 to 6,i; Mexi-
can, 201 to 20i ; Peruvian, 68 to 70; ditto Three
per Cents., 47 to 49 ; Portuguese Four per Cents.,
11 to 43 ; tlussian Five per Cents., 98 to 100;
ditto Four-and-a-Half per Cents., 88 to 90;
Spanish New Deferred, 1774- to 184; ditto Three
per Cents., 36 to 361 ; ditto Certificates, 4i to 5k ;
ditto Passive, 34 to 41.
This being " name" day in the Railway Share
Market, the business has been almost entirely for
the purpose of settling accounts, and prices are
generally about the same for the English lines.
The East Indian and Scinde shares are in demand
at full rates, to a slight advance. The traffic on
the Calcutta line, partly open, is stated to exceed
expectation.
The Foreign and Colonial Mines are dull, as well
as the banks, and the Crystal Palace are lower.

BRITISH FUNDS THIS DAY.—CLOSING PRICES
( Prom the Onicial Li.c. ;
Ruginesq done
3 per Cent. Reduced Annuities........
3 per Cent. Consols Annuities
New :3 per Cent. Annuities , BBi A 3 #
Lona Annuities, Expire sth Jan., 18tc0
Ditto 30 Years, Expire 10th Oct., 1859
Do. New
In lip_ Bonds, 11000
Ditto, under 4.-:1000 l2
Consols Jor Account, 10th May BBi 98 8i
Omuium
Exchequer Bills, z4d.
13000
£5OO 4 7
small

Tachequer Bonds 1858, 3i per Cent.
Ditto 1559, „
PRICE OF FOREIGN FUNDS THIS DAY.
Brazilian Bonds, 5 per Cent
Ditto Small .
Russian Bonds, 1822, 5 per Cent. £ St 9B
Russian Bonds, 44 per Cent
iardinian Bonds, 5 per Cent.. ......
Spanish Bowls, 3 per Cent
Ditto for the Account 364
Turkish Bonds, 6 per cent M 73.
Dividends on the above payable in London.
TWO O'CLOCK.
Consols BB4 9
Ditto, May Account ... BB} 9

MINIIVG INTELLIGENCE.

(From the Mining Journal of this day.)

Without any material change in prices there has been
a more active business in shares this week, and a greater
disposition on the part of the public to purchase in good
dividend concerns, as well as in many progressive mines,
which offer fair prospects of success. We rather con-
fidently expect a better state of things before long in
the mining market, when it shall have been still further
weeded of hopeless concerns, and consequently freer from
the calls which have for the last twelve inoaths hung like a
continuous nightmare upon it. So soon, even now, as any
decidedimprovement takes place in a mine, there is no
lack of buyers at good prices, and copper mines are the
favourites, the price of this metal keeping up better
than any other ; and, if the weekly samplings continue
to decrease as they have of late, still higher prices for
the ores must result. Lead, although a trifle .better,
is still so low that we understand many of the Flintshire
and other mines will be stopped, the high royalties paid
(being the same whatever the price of lead) rendering it
impossible for them to be worked to a profit.
MINES WHICH HAVE SOLD ORE.—Boiling Well, Boa-
cean, Brynford Hall, Budnick Consols, Bwich, Cae-
Gynon, Calstock Consols, Camborne Consols, Carnyorth,
Carvannall, Clijah and Wentworth, Craddock Moor,
Dyfngwm, Eaglebrook, East Tamar, East Wheal Rose,
East Wheal. Vor, Gilmar, Great Wheal Alfred, Great
Wheal Baddern, Herward United, Messer, North Towy,
Okel Tor, Rhotwydol, Vale of Towy, Sortridge Consols,
Wheal Crebor, West Rosewarne, Wheal Kitty, Wheal
Tehidy.
The Gold Mining Share Market continues neglected.
In Miscellaneous Shares the market has been quiet,
and the fluctuations very trifling.

FREE-LABOUR BAZAAR. —The mo=t direct and practi-
cal way to discourage slavery is certainly to promote,
by every available means, the substitution of free-
grown for slave-grown produce. The bulwark of Ame-
rican slavery may be said to be its cotton trade with
England ; yet we are told by experienced men that our
East and West Indian colonies could supply every bale
of cotton required by the British market, if a proper
impetus were given to its cultivation there. This anti-
slavery agitation has been set on foot, and many fabrice
of free-labour cotton are now coming into the market
for consumption. To promote the movement a grand
bazaar and sale of useful and ornamental work is to be
held in the City,
_ _ at the Hall of Commerce, on the 30th
and 31st orlia,y: One stall will be devoted 'entirely to
tho display of free-labarg cotton goods.