The Sun.
London, England, 1854-09-30 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLI(ENCE.

CITY, TWO o'CLOCK.
Tho sales of cotton at Liverpool yesterday
were estimated at 8,000 bales, including 2,0.00
taken for export and on speculation. The market
was steady at full prices, rather in favour of sellers.
Railway shares were dull, and heavy at lower

prices.
The crop of cotton in the United States for the
year ended the 31st August last is now ascertained
to have been 2,930,029 bales. In a report of the
16th inst., by Messrs. T. J. Stewart and Co., we
regret to find it stated that the Cotton Brokers'
Association has been dissolved. The writers in-
form us that—
" There has been but little activity in the market for
the past fortnight, the sales at times being so light that
reports of transactions became useless. On Tuesday
and Wednesday of the present week we received advices
by the St. Louis, from Havre, and Niagara, from Liver-
pool, respectively, three days later, the latter being to
afternoon of 2d inst., advising an advance of id. in the
week on the low and middling grades, whilst the better
qualities were simply more marketable,—continued
favourable accounts of the grain and root crops, and an
easier money market. These caused a small speculative
demand here, as we have recently had sufficient rain
at the North to enable the mills to run, and with our
small stock and the light additions we shall be receiving
during this month the chances would favour an advance
irrespective of any export demand. The sales for the
first week under review were 2,500 bales, and of the pre-
sent, up to last evening, 3,400. Sufficient has been taken
off the market to enable us to quote it to ge. higher in
the week. As the Cotton Brokers' Association has failed
to attain the unity so desirable, it is dissolved. Hence.
forth we will form our own quotations, adopting the
standard samples as a guide, as experience has shown
them to be fully up to the Liverpool standard, except in
the grade of ordinary, which we shall raise. In the
place of our usual tables we insert the crop of the year,
which closed on 31st ult., to winch we refer. The ad-

vices from the South continue almost uniformly of the
most favourable character, the exceptions few for the
great extent of country in the culture, and are entirely
isolated cases. To this date the prospect exceeds those
of the three preceding crops, and the arrivals at New Or-
leans are unusually large for the very low stage of the
Mississippi. A severe hurricane on the Atlantic coast
has injured the cities'of Charleston and Savannah, and
the rice and sea island crops. We are without advices
from the interior, but from the course of the storm pre-
sume there has been no injury to the upland crop."
The changes which occurred in the financial posi-
tion of the Bank of England during the week to

the 23d inst. were of no general importance. The

amount to the credit of the Government was still
increasing, but not in the ratio that it should do.
It bears evidence, in fact, of the drain upon our
resources. A further small decrease in the balances
of private depositors, and an addition to the dis-
counts, exemplify the continuance of the demand
for money. As to the specie it would have declined
more but for the large arrivals almost counter-
balancing the exports. Compared with the pre-
vious week, the changes were as follow :

Active circulation £19,296,250
Decrease 287,135
Bullion 13,228,886
Decrease 50,484
3,710,358
6,506
5,363,572
378,339
9,768,357
12,355
1,021,395

Rest
Increase
Public Deposits
Increase
Other Deposits •
Decrease
Seven-Day and other Bills

Decrease
Government Securities
Other Securities
Increase
Notes unemployed
Increase

2,180
10,996,955
15,487,091
133,659
7,293,480
144,055

The circulation of all the Banks in the United
Kingdom during the four weeks to the 2d inst.
shows, as compared with the previous month, the
following changes :—Bank ofEngland, 20,046,6561.,
decrease 492,5131. ; private banks 3,485,0521., de-
crease 85,440/. ; Joint Stock Banks 2,853,9111.,
decrease 29,3321. Total in England 26,385,6191.,
total decrease in England 607,285/. ; Scotland
3,867,4411., decrease 95,1351; Ireland 5,577,4111.,
decrease 36,6561. Total—the United Kingdom,
35,830,471/. ; total decrease in the United King-
dom, 739,0761.
There was a firm market again for bills on the
principal foreign cities., and in some instances tho
rates of exchange were higher. Paris, 90 days,
25 30 to 35 ; Amsterdam, 11 18 to 181 ; Ham-
burgh, 13 61 to 74 ; Frankfort, 11824, and Trieste
11 42 to 48.

For gold to be shipped to the Continent there is
no demand. Bar silver is at N. lid., Carolus dol-

Lars are 6s. 4d. per ounce.
Upon the probability of important discoveries in
the interior of Australia, a subject commented upon

at the British Association's Meeting this week, by

the geologist to the expedition, a contemporary
devoted to Colonial topics remarks
" The most noticeable thing in the little South Austr-
alian news that has arrived, is that of a visit from a party
of unknovi n natives from the interior. They are said to

be superior to the miserable race which on the south and
east coasts constitute the lowest type of humanity. The

stranger natives crossed Lake Toirens at a shallow part,
and reached a station on the north-west border. They
had evidently no knowledge of Europeans or of
the native tribes in the South Australian terri-
. .

tory. They described their own country as abounding
in game, grass, water, and trees, thus confirming the
experience of the settlers, that the farther the interior
is penetrated the richer the country becomes, in place of
the desert which has been anticipated, and which may
exist farther to the northward. Trifling as this incident
may at first sight appear, we regard it as an important
event to the colony. It ought to give an impulse to-
wards immediate discovery in this portion of Australia,
and if water is plentiful there would be no great diffi-
culty in a well-provided party pushing right across the
continent to the discoveries made by Leichhardt on
the eastern side. There is a sad want of enterprise in
this respect in all the Australian Governments.
They will waste money by tens of thousands on
useless objects close to the seat of Government,
or in almost as useless official salaries, but they will
give nothing to exploration, which, when it takes place,
has to be promoted by private subscription. From the
account given by these natives, there appears to be no
reasonable doubt but that in the direction indicated a
rich and valuable country is to be found, and could be
reached without difficulty. The Government should
pursue the inquiry. It is disgraceful to Englishmen
that they should have colonised Australia more than 60
years since, and know little about the country beyond
the occupied strip on the sea-coast ; for, compared with
the whole continent, it is nothing more than a strip."

The exports of specie from London direct during
the week to Thursday last comprised 338,208
ounces of silver and 390 ounces of gold, all to Ger-
many and France.

In the Funds there is but little animation again,
and prices are lower. Consols have been 941 to
951 for transfer, and 05k to for account—money
stock being plentiful. The premium upon Exche-
quer Bills has been ss. to Bs., 'and upon India
Bonds Os.

Foreign Stocks aro dull. Russian 4i per Cents.

have been dealt in at 88, and Dutch 2i per Cents.
at 61 to The Turkish Scrip is 21 to 3} prem.,
being firmer.
The following are the nominal prices of foreign
stocks :—Grenada Deferred Bonds, 51 to 6/ ;
Mexican, 24i to 241 ; Peruvian, 70 to 72 ; ditto
3 per Cents., 51 to 53 ; Portuguese 4 per Cents.,
40 to 42 ; Russian 5 per Cents., 98 to 100 ; ditto
4i per Cents., 87 to 89 ; Spanish New Deferred,
18k to 181 ; ditto 3 per Cents., 371 to 38 ; ditto
Certificates, 5 to 5i ; ditto Passive, 4 to 44.
For Railway Shares there is a drooping market,
sales having been made at a decline of to 1 per
cent. in London and North-Western, in Lanca-
shire and Yorkshire, j in Midland, and g- in Cale-
donian. Great Northern and Great Western have
been tolerably steady. Foreign shares are also
depressed.

In Mines and Banks there is nothing doing.
Crystal Palace are firm. Canada Government
Debentures have been maintained.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.

(Prom the Oficial List.)

Blviness done.
3 per Cent. Consols Annuities 95 4i 5A
India Bonds. £lOOO . 9
Consols for Account 17th Oct.
Exchequer Bills, 24d.
£l000
Small 8
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Russian Bonds, 1822, 5 per Cent. £ St

Ditto ih per Cent.
Turkish Scrip
Ditto for the Account 2i 3k
Dividends on the above payable in London.
Dutch Exchange, 2i por Cent. 12 Gull
TWO O'CLOCK.

Cousols
Ditto October Account

20
50
20
25