The Sun.
London, England, 1830-12-02 00:00:00

THE MOM MARkET.

(From the Morning Herald.), •
Prevl(Mgt° the paSSing of the Corn Laws now in operation, it
was strongly recommended by practiCal mess that, instead ofa
system of averages; a fixed disty df (iota IQs. to lins, a quarter on
imported wheat should he Imposed, and that other imported
grain should be taxed In a similar propOrtitin. , The landholders
and the Government, however, rejected the proplisition of a Saes'
duty as injurious to the interests of the English groWer, alai is
calculated to encourage the importation of more grain than the
country required. Accord is igly the pre ent hocus poems plan was
adopted, and the corn dealers were left to exert their ingenuity
in so regulating the aterages as ,should he snore contincWe to
their interests. The result is, that their skill has shown itself
much greater than that of the' law makers, Car he nod that the
former have so managed matters no to fix the arerageil in stleh
way as to throlV (Vethe ports Just at the time that best Suits
their spectlatiami. That the most extraordinary part of the busi-
ness remains to be told. We art informed that the average of
the duty paid on imported wheat, shier the pregent taws have
been in operation, actually amounts to no more than he. a quarter:
Thus we see that those Legislators, who rejected a fixed duty of
Zs. a quarter, because it was Lot high enough to protect the in-
terests of the agriculturists, actually passed a law by which
wheat has been imported at one.fuurth of that duty. Perhai o
there is not upon record a snore miserable legislative failure than
the one under consideration: instead of accomplishing the two
objects Which the promoters of the Act had in View...namely, the
protecting the English groWer, and the securing of the teventw,
it has actually been highly injurious to both.
There has been, we understand, tine eminnercial failures in
the City to-day (Wednesday). Two of them, it is saidi were to
a considerable amount ; but the third is represented as very in-
considerable. One of the houses is connected with the West
India trade, and, we believe, owes its fall to the failure of a
house in the came trade last week.

Nothing is talked of on the Stock Exchange but war, which
some people profess to look upon as Inevitable on the Continent.
They allow, however, that it does not follow England should be
implicated In it, though they assert, they do not see how she can
be kept out of it for more than a few months. For our part, we
do not wish to give any decided opinion on the subject, but we
may be allowed to observe that, if the Continental despotic Mo.
narehs were wise, they would refrain from a war with France.
But speculation on the subject is useless, because it is not 1 kely
to lead to any satisfactory result. Time alone must resolve the
question. It does not appear, however that the fundholders are
at all apprehensive of a war. This is the eve of the shutting of
Consuls, and yet there was scarcely ever known a time when
there was AO little Money Stock in the market. It is quite clear,
therefore, that there is no fear either among the banking lute.
rest or the public at large of a fall in prices, or they would have
availed themselves of transferring Stock while the Transfer-
office was open. It is somewhat extraordinary, however, that so
high an interest is demanded for Exchequer hills, when a back.
wardation is paid on Consols. We understand that money has
been borrowed to-day on Exchequer Bills at the rate of 4 per et.

(From the Times.)
Letters received this morniog (Wednesday) ttom Gibraltar, of
the very recent date of the '%/d u t., infisnn us of the destination
of the Carron, Government steam-vessel, the departure of
which from Portsmouth, a short time back, gave rise to some
very profound and ingenious speculations. The mission was,
however, to Gibraltar only, where the Carron arrived on the 21th
ult., and with the purpose, as it would appear from the private
letters, of ordering home immediately a portion of the troops in
that garrison. Various conjectures, more or less alarming, were
afloat on the subject, hut what strengthened the supposition
above-mentlunsel was the intimation that two ships of the line,
the Windsor Castle and the Gloucester, were . expected to enter
the bay almost immediately, and much anxiety was evidently
felt en that head by the Governor-General, who ordered guns
to be fired and lights to be hoisted during the night of the 21st,
to facilitate the safe entry of the ships of war. The kid Regi.
meet is understood to be that which is ordered home. Many of
the inhabitants, who could not ascertain the exact state of the
case, were under great alarm, imagining that war had broken
out between France and England.
The transactions of the money-market do not assume any new
feature to.day (Wednesday) ; the business done has been ex-
tremely limited, and the fluctuations quite unimportant. Cots.
sole shut to.morrow for the dividend, which has tended rather
than otherwise to increase the demand for stock, as the old dip.
gladly about obtaining trans&rs during the shutting no longer
exists, as it is done on the payment of a small hie, and people feel
therefore no alarm about keeping their investments until the
period whets it may become necessary to change them. Consuls
have been done to-day (Wednesday) at 62 IA and at 81%, and the
last quotation for the account was 8.2.% to )li.