The Sun.
London, England, 1838-04-17 00:00:00

MONEY and COMMERCIAL MARKET.

( From the Morning Papers of this day.)
MORNING CHRONICLE.-This being settling day in the Fo-
reign Market, and many of the principal operators being ab-
sent, scarcely any otherbusiness than arranging accounts was
transacted. In the early part of the day the different Secu-
rities were depressed, in consequence of its being a " Bull"
Account, but towards the close of the day, when every thing
was adjusted, the Market rallied considerably, especially Por-
tuguese Securities, which closed one per cent. higher than on
Saturday ; but this was occasioned also by the arrival of the
advices from Lisbon in reference to the swearing to the new
Constitution on the part of the Queen, and the general am-
nesty which followed, which is regarded in a very favourable
light at the Stock Exchange, as well as throughout the City
generally, and expected to be the commencement of a
more satisfactory and prosperous state of things in Por-
tugal. The Five per Cents. left off at thirty-one to one-half,
and the Three per Cents. at 20:f to 214. Dutch Securities,
which were expected to rise, in the anticipation of higher
prices coming from Holland, were very flat ; for the quo-
tations from Amsterdam, on the contrary, were not o:,ly lower,
but the market had been plentifully supplied with stock, and
presented a good deal of uneasiness. To show to what extent
the exertions of a certain powerful individual in Holland have
been made with a view of keeping up this market, it is merely
necessary to mention the fact that one of his brokers alone had
to take stock to-day to the amount of 1,200,000 guilders, or
100,0001., which had been purchased by that gentleman within
the last 10 or 14 days. The small sales on the part of the
public continue notwithstanding, and the market is evidently
weak. The Five per Cents. are 100 to ex. div., and the
Two-and- a-half per Cents. 53i to 54k. Spanish securities
I rallied immediately after the account was settled.

Timiss.—A statement is current, that the Dutch Govern-
ment is about to create a new loan by subscription for
8,300,000 florins ; to be taken at par, and the interest to com-
mence from this month of April, while the instalments arc not
to be paid up till September ; the interest to be 5 per cent.
These continued loans by Holland, and during peace, ought
to create a salutary distrust of them among European capi-
talists;and particularly those of this country, who hold already
too large a stake in Dutch securities. Even if the resources
of Holland were not, as is the case, already drawn upon to the
utmost, by the enormous weight of existing debt, there is the
circumstance to be considered, that these loans are very un-
popular with the States-General, who have shown great reluc-
tance to voting the supplies necessary for defraying the irite-
rest up:.n them. Even if relieved from the portion of the
debt assigned to Belgium, of Is hich the prospect seems at pre-
sent remote and uncertain, Du:ci, stock is already at its full
value in the general money market : to go now into new sub-
scriptions, in the midst of all this uncertainty, is a hazard from
which prudent men should draw back.