The Sun.
London, England, 1852-12-04 00:00:00

----
MONEY AND COMMERCIAL NEWS.

Yesterday afternoon Bills of Exchange were nego-
tiated at lower rates upon the principal Continental
cities. Paris, 90 days, was taken at 25 : 374 to 40 ;
Amsterdam, 11 :18 to 181 ' Hamburgh, 13 :6 to 4 ;
Frankfort, 1191- to 120 ; and Trieste, 11 : 39 to 42.
The amount of gold exported from London direct,
during the week to Thursday last, was 6,780 ounces, all
to Belgium and liambro, and of silver coin 3,700 ounces
to Boulogne.

The Budget excites much discussion in the City, bui
upon the whole is well received.

The English Stock Market has been very firm, and
there is rather more doing. Consols have brought 1011
to 1 for transfer and account, and are now 1011 to 1.
Bank Stock is firm at 222, and India Stock at 277.
South Sea Stock is worth 1111. East India Bonds have
been 80s. to 83s. premium. 'The New 31 per Cents,
re 1031 to
Foreign Stocks have been without material change.
Spanish 3 per Cents. have been marked 511 to 1.
The Deferred are 248 to 1. Mexican bring 241 to 25,
and Grenada Deferred 128 to 131. Peruvian Deferred
have improved to 65 and 651. Portugese 4 per Cents.
have been marked 381 The Swedish Loan is at 11 to
11 discount, and the iurkish at 11 1 premium. Dutch
4 per Cents, are 98/.
Railway Shares have improved 1 to 1 per Cent. The
French lines are very dull.
Gold Mines are cheaper, and with less doing.
BRIT'S

11 FUNDS AT ONE O'CLOCK THIS DAY,
(From the Official List.)

.......
......
101 s
Juno.
Business done,
Bank Stock . . 222
10101
gi 3
3 per Cent. ....................
3 per Cent. Consols Annuities
103 i
New 3i per Cent. Annuities...—••••• ••• India Stock .......
83
India Bonds, 21000
faorStoAeckcount..... • 80 3
Ditto, under Ric%
1111
cSoountsholsSe
March.
Exchequer Bills 1/d. • ..•
£lOOO.
........................ 69

PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent.
Ditto Small
Ditto 4i per Cent
Grenada Bonds, 1 per Cent.
Ditto New Deferred, 3 per Cent
Peruvian Deferred 3 per Cent
Portuguese 4 per Cent.
Spanish Bonds, 3 per Cent
Swedish Loan .
Turkish Loan, 6 per Cent., 1852
Dutch Exchange 2i per Cent
Ditto for the Account
Ditto 4 per Cent. Certificates

102
97S 8
121
6.5
9
38i
51 g
d
13 d P

....................TWO
100'
let OCK.
Consols .. ...........
Ditto January Account , „, „ 101*

CITY, Two O'CLOCK.
The sales of cotton at Liverpool yesterday were esti-
mated at 6,000 bales, of which 1,000 were taken for ex-
port and on speculation. The market was steady, but
tame. Railway shares were dull, and prices were
lower

The following accoitnt of the wine-trade is furnished
by Messrs. Walter Howell and Hall :
" In the market there are no foreign wines to be pur-
chased under from 221. to 23/., and these are very young.
The important alteration by the Portuguese Government
in the classification of wines for export and in the export
duties are thus clearly and ably communicated to us by
our esteemed correspondent, and which we have the plea-
sure to hand you for your information :
" By a Royal Decree, promulgated on the 11th October,
1852, the laws which hitherto regulated the classification
of these Wines, and which, in their unjust and prohibitive
operation, were the cause of so much dissatisfaction, have
been most wisely repealed. Some restrictions, deemed
necessary in the present state of things, still remain, but
it is to be hoped that the noble example set by England,
in its adoption and encouragement of the principles of
Free Trade, will, as those principles become more developed,
be speedily followed by every other nation.
" The Government, therefore, keeping in view the fact,
that, owing to the high duties on wines in England, the
consumption is limited, chiefly to - the higher classes, to
whom quality, rather than price, is the desideratum ; and
being desirous to preserve in the shipment of our wines
that fine quality and high character which they have ac-
quired, and for centuries maintained in almost every part
of the world, more especially in England ; provision has
been made for the appointment of a commission, consisting
of two wine merchants and two wine-growers, who
are to be elected by the bodies whose interests they
respectively represent, and presided over by the director
of the Custom House of Oporto.
" The functions of this commission will consist in regu-
lating all matters appertaining to the agriculture and com-
merce of the wines of the Alto Douro, and in selecting
from the best wines produced within the ' district' (con-
taining the finest vineyards of the Alto Douro) the quantity
necessary for exportation to all parts of the world. The
export duty is also equalised ; and wines henceforward to
beextent of 21. 14s. per pipe, subject, by another decree
of the
tshheippseadmteo Europe will be relieved of that impost to the
to a tax of 500 reis, of 2s. 3d.
sterling per pipe, to be levied on all wines en-
tering Oporto and Villa Nova ; and with a view
of procuring the consumption of the inferior wines, the
proceeds of this latter tax, guaranteed by Government
not to amount to less than 6,6501., are to be granted in the
shape of a bounty to any company or individual who shall
undertake to ship not less than 1,000 pipes of brandy,
made of the wines of the Alto Douro. Should such ship-
ment not be undertaken by a company or by an individual,
the fund to be distributed as follows :-4/. 10s. per-pipe of
Portugueseany t
obeapplied
spirit, 61- 10s. per pipe of brandy, for every
pipe of such spirit that shall be shipped to foreign coun-
tries, or to Portuguese possessions ; and the remainder, if
wine," to the repair of roads for the transit of