The Sun.
London, England, 1853-06-03 00:00:00

HOLLAND.

The results already published of the elections in
Holland are favourable to the Ministry at the
Hague. M. Baud, ministerial candidate, has be9n
returned against Baron Van Emplen, late Minister
of Foreign Affairs.

INCREASED RATE OF DISCOUNT.

( From the Times Money Article.)

At the breaking up of the Bank Court yesterday it
was announced that the rate of discount had been ad-
vanced from 3 per cent,, at which it has stood since the
20th of January, to 34 per cent. The notification, how-
ever, did not produce any violent effect on the prices of
funds, the heavy speculative sales which took place on
Wednesday at the termination of the sitting of the Com-
mittee of Treasury, from which in such cases a prelmi-
nary recommendation usually proceeds, having created a
certainty on the part of the dealers that the measures
had been resolved upon.
With regard to the policy of the step, it is only neces-
sary to repeat that the bank must be the best judge.
since the public are unacquainted with the absolute ex-
tent of the immediate demand for accommodatibn by
which it was considered to be rendered necessary. Look-
ing at external circumstances—namely, the complete
check lately given to all foreign investments, the arrivals
of gold during the week from Australia, the probability
that these will continue without further counteraction
from a drain of coin, the remittances from Russia, and
the renewal of a favourable rate of exchange with
America—there was little to lead to an expectation of
it. All these considerations, however, are useless
against the practical evidence of supply and demand.
If the Bank can lend as much money as they have to
spare at 31 per cent, upon the best paper, it is, as a
general rule, their business to look to that fact alone.
In the present case they have had an addittional induce-
ment from the certainty that a demand upon their ie-
sources will be experienced from the Government, in
connexion with the payment of the Exchequer-bill
dissentients, sufficiently large to render it necessary
that they should curtail their advances in other channels.
Under this view it is possible that the proceeding may
have been adopted, even with the certainty that the
increased rate will soon be so far beyond the charge out
of doors as to check the discount business of the estab-
lishment. On the part of the banking interest and the
public generally, a feeling unquestionably prevails that
the demand for money is likely to diminish rather than
to increase.

The speculative operations carried on yesterday and
this morning in connexion with the raising of the Bank
rate discount caused a revival of the wish that that
establishment would follow the true business course of
charging from day to day such rate as the condition of
the money-market may warrant, and discontinue the
practice-of making sudden announcements, which, al-
though they have little real signifiance, are at all times
calculated to create excitement and disturb the value of
property. _ _ _

'the rate of discount now charged by the Bank is the
highest that has prevailed for nearly five years. On the
2d of November, 1848, it was reduced from 3i per oast.
to 3 per cent., at or below which it has remained ever
since. Consols were then 86, and the bullion in tho
Bank 13,400,000/.

, .
The discount houses yesterday gave no notice of any
alteration in their rates for money at call.

It is understood that the total of Exchequer bills not 1
sent in for renewal, and the payment of which will con-
sequently be demanded, is very large. Two days back
the claims amounted to about 500,0001., and they are
since believed to have been increased to about 3,000,000/.
The disbursement of this sum will affect the lending
power of the Bank by diminishing the Government
balances in their hands, but will, of course, increase in
an equal proportion the floating capital of the public
seeking temporary investment.
Subjoined are the returns from the Bank and the
South Sea-house of the progress of the conversion ; it
includes a small amount of Exchequer bonds :
AMOUNTS OF NEW STOCKS AQCEPTED THIS DAY.
South Sea-
Bank of England. house.
3/. 10s. per Cents. ... nil. £2,713 ]2 0
2/. 10s. per Cents. ... £3,000 ... £87,347 3 8
Exchequer bonds ... nil. ... £BOO 0 0
The returns to-day will be the last as far as regards
the petty Three per Cent. Stocks, amounting to
9,500,0001. The aggregate conversion up to last night
is 2,738,686/. 12s. Bd.

THE ORLEANS FAMILY.—The confirmation of his
Royal Highness the Count de Paris took place at an
early hour yesterday morning, in the presence of the
ex-Royal Family of France and a distinguished circle of
the English nobility, at the chapel of the French Em-
bassy, in King-street, Portman-square. The Duke de
Chartres at the same time' made his first communion.
Cardinal Wiseman, Roman Catholic Archbishop of the
district, officiated, and pronounced a very impressive
address appropriate to the occasion. The chapel was
crowded to excess, although the hour for assembling was
as early as eight o'clock. The ex-Queen of the French
and all the members of the ex-royal family were present
and assisted in the solemn rite. The august exiles were
received with the most touching marks of respect. A
great concourse of eminent and devoted friends of the
Orleans family attended the ceremonial. Among others
we remarked the Duchess de Marmier, the Duke de
Montmorency, the Duke de Broglie, the Count and
Countess do S6gur, the Baron de Bussires, &e. In the
afternoon there was a second religious service, at which
the Duke de Chartres renewed his vows at baptism.
This ceremony also took place in the presence of Cardi-
nal Wiseman, accompanied by his clergy, and of the
Pope's nuncio, now in this country, on his way to
Mexico. The chapel was again crowded with the ad-
herents of the exiled family and many English of high
rank,