The Sun.
London, England, 1839-01-01 00:00:00

MONEY AND CITY NEWS.

(FROM TAY MORNING PAPERS OF THIS DAY.)
TIME S.—The English Stock Market remains extremely
quiet, but an impression is prevalent among the dealers that an
export of bullion is silently going on to the continent to a
much more extensive amount than what appears upon the face
of the Custom-house returns. Late in the day it is stated
that a considerable sum in sovereigns was sent for to the Bank
by an eminent firm for export this evening to Paris, where it
is averted a supply of gold is required to meet the demand or
run upon the banks for specie. Consols, however, were steady,
at 94 to * for the opening ; Bank Stock, 2021 to 34 ; India
Stock, 262 to 3 ; Exchequer Bills, 64 to 66 ; India Bonds,
62 to 66 premium.
This being the settlement of the account and pay-day in the
Foreign Market, the transactions in foreign securities were not
of much extent. A trifling improvement took place in Penin-
sular Securities, Spanish Active, with the May coupons, be-
ing 164 to 17 ; Portuguese Five per Cents., 301 to 31 ; the
Three per ICents., 19i to 20A-; Brazilian were 77 to 4;
Mexican, 224 to 3i ; Colombian, 254 to 6 ; Dutch were ra-
ther better, the Two-and-a-Half per Cents. leaving off at 55
to ; the Five per Cents., 101 to 4 ; Belgian, 99 to ie
The report of the Great Western Railway Company just
published being looked upon in a favourable light, the Shares
advanced to 14 to 15 premium; London and Birmingham
were 78 to 80; Southampton New, 19i to 204 ; North Mid-
land, to 14; Manchester and Birmingham, 4to 1 prem. ;
Brighton, 34 to ; Blackwell, 14 to 4 ; Midland Counties,
16 to 15 discount.
Letters have been received in the City to-day from Buenos
Ayres to the sth of October and Papers to the 30th of Sep-
tember, which merely relate to the state of affairs there, as al-
ready noticed under this head some days ago, according to
the tenor of previous advices to the 7th of October, referr-
ing to the same and other more important manner.
A most inconvenient practice prevails at the Post-office in
regard to money orders from the country, usually very small
in amount, and which seems quite incompatible with the least
talent for business in that department. The practice is for
a party wishing to remit a few shillings to London (the
larger sums pass through the Local Banks) to apply to the
Postmaster of this town for an order on the London Post-
office, which runs something in this way :—" Credit
the person named in my letter of advice the sum of
--, and debit the same to this office ;" which is signed by
the country postmaster. Any one would imagine, from the
mere wording of this, that some regular account was kept, or
to be opened, instead of being an order for the payment of
money. When received in London, for which the expense
of postage, on an average 10 per cent., or ls. upon 10s., is in-
curred, the money will only be paid at the Post-office to the
party, or to his agent, to whom it has been remitted, whose
endorsement to it has been required, and if the country post-
master should neglect to send his "letter of advice," it will
not be paid at all. Surely it must be sufficient to describe
this practice to put an end to it. The failure of a letter by
the General Post is so rare an occurrence, that the chance of
that need not be taken into the calculation, and the proper
course would be therefore to make all such orders payable to
bearer, but to require, with the view of preventing their get-
ting into circulation as money, that they should be presented
for payment within a limited time. There should also he a
remission in part, or in the whole, of postage on such money
orders, instead of being made a device, as they are, to swell
the amount, and that by a tax which can only be understood
by applying the principle of it to a larger amount, and sup-
posing that a country banker were to charge 101. as com-
mission for remitting a sum of 100/. to London.

CHRONICLE.—Accounts from Quebec, two days later
than the advises said to have been received on Sdturcay and
published in a second edition of the Times, respecting the
revolt of the militia, have come to hand this morning, and are
wholly silent respecting such an event, which they would
naturally have alluded to most particularly had anything of the
kind occurred.

HER ALD.—TLe private letters which have been re-
ceived from the United States do not add to the information
which has already appeared in this Journal respecting the
political movements in Pennsylvania ; neither do they bring
anything fresh respecting the state of the money market at
New York, as we have already given the details of the Bth
current. It however appears that the banking mania is rapidly
extending itself in the southern states of the Union. Several
Bills had been laid before the State Legislature of Georgia
for forming banks of large capital, amongst which the most