The Sun.
London, England, 1852-11-10 00:00:00

MONEY AND COMMERCIAL NEWS•

CITY, Two o'CLocK.
The cotton market at Liverpool yesterday
amounted to 3,000 bales, of which 1,000 were taken
on speculation. The market was dull, and the ten-
dency in prices downwards. There was a heavy

market for Railway Shares, and prices declined.
The Members of the Banking Institute mustered
tolerably strong last night, to hear a paper by Mr.
Bell upcn the important subject of the Foreign Ex'
changes. Mr. Macgregor was in the chair; and in
commenting upon the paper, expressed his view that
no legislative enactments could control the balance of
trade, and that the adjustment must be left to the
natural operation of bullion remittances when occa-
sion needed them. Mr. Gilbert seemed to agree

with the writer of the paper that a
Mint is not necessary in Australia. For
our own part we dissent from such a
conclusion. The small notes circulated by the
Australian Banks, doubtless, supply the place of sove-
reigns to some extent, but it is important to bear in
mind that the colonists are properly ambitious, and
desire to manage their own affairs ; and, further, that
the mere stamping of gold by an assay office would
not protect inexperienced parties from fraud. If
elaborate coins can be successfully counterfeited'
what is to prevent a copious alloy of gold and a ficti"
tious impress of the characters stamped at the assay
office ? Moreover, it is unlikely that small pieces
of the metal would be assayed and circulated'
and we know that half-sovereigns are much
wanted. Probably the greatest inconvenience Austra'
lia will experience will be from scarcity of silver, as
the notes provide no resource. A Mint equal to the
service of the colony can, in the opinion of Sir Jolla
Herschel, be established and conducted at a Yerry
moderate expense; and the growing wealth of the
colonies entitles them to it, however banks, bullion'
brokers, or shipowners may be prejudiced. At pre"
sent most unnecessary risk is incurred by the
constant transmission of gold from Australia
to England, and vice versa ; and the Legigia'
ture at Sydney was, in our opinion, right 10
urging the formation of a Mint. Mr. Attwood,
of the British North American Bank, go!
some interesting explanations upon the managernee"
of the exchanges with Canada, stating that Nei
York stood thereto in about the same relation as Low
don to the other towns of England. The supply e
metallic money in Canada seems now quite equal t°
its requirements, though, of course, there can be 0°
objection to a steady increase of wealth.
There was a slight decline yesterday in the rate for
bills of exchange on Amsterdam and Hamburgb, 130'
Trieste was firmer, and Paris without alteration.
A meeting of the holders of the Turkish loan has
been convened for to-morrow and will, probably, be
very fully attended. There is obviously a neeesel
for the public expression of those opinions which hilvte
hitherto only been murmuringly indulged in in Prisr4t,
circles, and to fix the blame upon the right pat'l;
in the face of so much mystery, is particular -7
desirable. Seeing the feeling that exists, Me
Devaux and Co. have announced that the :5
also intend to convene a meeting of the partite
interested as soon as they are in a position
attend and give explanations, the affair of the le
requiring now their constant presence in Paris. the
cannot help thinking, however, that the hands of
lc
contractors will be much strengthened by a
be
demonstration on the part of the holders. Let 'he
latter prove to the world that in reliance upon °tey
good faith of the Turkish Government, the
subscribed for, or purchased the scrip, and 'of
national discredit arising from a repudiation t,
obligations entered into through an accredited ogiehnis
(no matter how far that agent may have exceeded
authority) will not be so likely to be incurred hi ;%,.
Ottoman Porte. The argument put forward ; s
tenuation of the disallowance of the Loan is, tha".ee
return of the amount subscribed will meet the jut,/0
of the case, but clearly this cannot be, for varijii
reasons. First, the party who subscribed, nature er
concluded that he was making an excellent sit Pie
cent. investment, with a handsome bo nus
Pei,
prospective, and either withdrew his re°re.
from some other security which he cannot now, e,
place on the same terms, or if he had the capital I,„e
1
he has missed the opportunity for now eight or 1.3 "tis
weeks of placing it in other channels. This .101
regards those of the original subscribers Who, —tar
be holders at the present time, but the case is tif •
worse for second and third parties who have Yoed
chased at a premium. They are as clearly ellii the
to compensation, if they come Scrip in hand, 85,..,01
man who buys merchandise with certain warr.'l_t'o's
which afterwards proves worthless. Mere specul4nees
will, of course, have to arrange their time differe
among themselves.
The following is from the Mexican
TRANSLATION.
" Financial Agency of Mexico in London,
52.
"'32, Great Winchester-street, Nov. 3,1 S •Dg
" sir,-1 have received by the packet the follorit 0
Committee
commut ication, which I hasten to bring, througilYn°d:
to the knowledge of the Committee and the P°-
holders :
" His Excellency the President, with referevieset
to your letters, Nos. 176 and 183, of the die
August, and Ist September last, both relative i°
protest made by the committee of Mexican b°teo
holders against the want of punctuality in bas
payment of the dividend due Ist July last, the
been pleased to determine, and his Excellenei;oo
Minister orders me to inform you that, as the Beds; to
of the Congress have closet, it has been impossiu'oicl
take the necessary steps for the payment of theweei
dividend, in which payment the Supreme Go/0301
feels deeply interested, from its conviction of the oar
importance of maintaining its credit abroad. 11°1 ibis
as the Congress will again meet on the 15th °,,ete,
month, the Government will then take care to Pr°.—ve to
by all the means which it may consider condueltieloe
that end, the payment, without further
of the said dividend, notwithstanding the P:n elds it
of the Exchequer and the number of urgent ders-A
hi
has to provide for, which are still further incree c);
the agitation at present unhappily existing le B°o3
the States of the Republic." yOtt
"' His Excellency the President also desires that the
L
should impress upon the creditors themselves tP%S
Supreme Government is quite aware of the Pis'itecei,
their claim, and of the consideration that is due t° ode.
as he likewise is of his duty to fulfil strictly his n
ments towards them.'" LegisW
" Of this he will convinces them as soon as the - dig
ture shall commence their labors and place at thehieb
sal of the Executive the necessary resources w"of Ole
present are wanting, owing to the deplorable gat°
public exchequer.
I have the honor, &c.
F
(Signed) Coe•
-
"The Baron de Goldsmid, Chairman of the
mittee of Mexican Bondholders." a the
The funds have been flatter this morning, ant be
reported ministerial differences have some eThecoys'eri
cause a political crisis, whichever party be jai 1-0.0
involves uncertainty. Consols have been u°,ollljv
100 k f„ but are now 1001 4. The December
price is 100 - 4. Bank Stock is steady at o,o'
2231. Exchequer Bills have realised 765. Pre see°,,
The New Three-and-a-Quarter per Cents. hal° East
103 to It, and the Three per Cents. 991 to tiag'
India Stock is 274 to 2754, being rather fluctua Deeo
In the Foreign Market there has not t tbe
a single bargain in Turkish Scrip, bliferroci,
nominal price is 2 to 24 premium. Spanish Pe if be'
tocP 0
Bonds are very firm at 25* to 4. Mexican S bee
been buoyant at 251 to 4.4
Grenada Bonds havebeieg
211, Buenos Ayres 814, and Venezuela 41,iatli'
all firm. Brazilian Scrip has been at 14 Pre—
Dutch Stock has been quiet. dod•
Railway Shares have been very little dealt I toted
upon the whole, no material alteration can be
er, are
for the English lines. The French, hoviec.,vioo:
down 21. on the 201. shares, owing to the dete'lerge`
nation of the Paris stock-brokers to require a ooal°
deposit from speculators for a rise. It is ticae
check was imposed.
Gold Mines are firm, but very quiet.

.;InixslDdtnel.o / • „ '
•
.osl3cisßot
üßofoeocßnrrkciißAsTi,c al FUNDSid
(From the Official List.) 5 d°°.
Basin c 6.4 3
223 '
Bank Stock i A ,•
335popweerr
3Lc'LAieennteßrEilsAAniattins7es......
Long Annuities. F.xp. Jan. sth, 1860 —...... 116°9°39;:61414:2V3
Exp., Oct. 10, 1859....... 63/4 5i
21 3
years,ooo/... --
Account 4 /
............ lOO VI /latirl!,•
6
March 73
76 73
.
` ,
tti Smallolttisooa:AnPN:BßmerwoleanC;
IdEßlsB:l.on.s3.dF. FOREIGNp:.6r.
..Cent................U. N.....D S .11001(4)1,
4,
Brazilian
Scrip . 11 ,
Grenada, 11,4 per Cent ........ . C..e.11..t......................... 184:
Do. Ex Dec. Coupons 1849 —10 t, ,4,
Ditto Deferred .............................. 2514 1';
Mexican 3 per Cent. ........ ...... ...... 104 3li;
Yertman Bonds, 1849, 6 ner Cent., ...••• • . 623
Ditto Deferred 3 per Cent. •—• ....... 0814
Russian Bonds, 1822, 5 per Cent....
......
104 i 51
Ditto 414 per Cent. ----- ............ '', 98i •4/ 2
Sardinian Bonds, 5 per Cent. ........... • 521 h. 1a
Spanish Bonds, 3 per Cent. ..............
251.1
Ditto New Deferred, 3 per Cent.......... ,4 4i
Turkish Loan, 6 per Cent., 1852 . ......41
Venezuela Bonds ... ........ , ..................
15,,,:,
Do. Deferred 1 per Cent............. 1.: .. ... 5
Dutch Excha., 21/0 per Cent., 12 Gull • `',',.4,,,
Ditto 4 per Cent. Certificates ............ v./4
L --- VOs C
THRE-.-. 3/ i 4
1000
.•• :ii) I,z
100 '

C0113',13 ..... ••
Ditto Accown. Dee. 9

4.PPROACIEI
betWecli
preliminaries are to alliance ..,_rouis
the Lady v of the Arollso
0 c t a
iNaaGr(
arranged
MARRlAGEonsgvedno rt
ar
igo r
and Marchioneso of Westrainater, mud _sir Dlae
StsrAtti 13041 of lUOggwoh