The Sun.
London, England, 1854-12-30 00:00:00

MON'EY MARKET

A li D

COMME.ROIAL INTELLIGENCE.

CITY, WA 0 o'CLOCK.

The gales of cotton at Liverpool yesterday were
estimated at 6,000 bales. The market was quiet,
but steady at previous rates. Railway Shares were
rather firmer.

The position of the Bank of England during the
week to the 23d inst. was in most respects " simi-
lar to that shown by the return of the correspond-
ing period of 1853, when e demand for money
increased as usual towards the end of the year.
We have now, however, an addition to the private
deposits, which was not observable in the state-
ment made at this time last year, and which can
only be explained upon the supposition that after
the recent failures in they United States, and the
partial distrust that prevails here as the result
of the late suspensions, parties deem it wise
to keep a good balance ht their bankers.
The addition to the bullion is very satisfactory
under the circumstances, but we have no idea that
it will continue now the French loan is brought
out, and the receipt of bullion from America is,
temporarily at least, suspended. The amount to
the credit of the Government increases, but it
would have to receive a, much greater addition ere
it could be pronounced sufficient, without ex-
traneous aid, to meet all the demands upon the
country. From the nature of things, however, we
may assume that large sums are paid away in
satisfaction of war expenses, without remaining
long in the Bank, and that, according to the defi-
ciency baplan, many ehanges in this item may be
but for a day. Compared with the previous week
the changes were as iollows

Active circulation £19,125,445
Increase
Bullion
Increase 108,225
8,140,652
8,613
6,560,414
524,739
10,009,957
299,445
938,622
54,490
11,609,583
44,346
14,581,403
712,116
8,352,740
21,960

Rest
Increase
Public Deposits
Increase
Other Deposits
Increase
Seven-Day and other Bills
Decrease ..
Government Securities
Increase
Other Securities
Increase
Notes unemployed
Increase

On the 24th December, 1853, the amount of bul-
lion in the Bank of England was 15,819,0411., con-
sequently the sum at present held must be consi-
dered large after nine months of active warfare.
Tito public deposits " tell a tale," having been
11,157,7241. at this time last year, or 4,597,3101.
more than at present. The other securities are
about 2,000,0001. less now than in December last,
explicable by the dulness of trade, &c. The active
circulation of notes payable on demand has dimi-
nished 1,684,7101.
There was a decline yesterday afternoon in the
rate of exchange on Paris to 25 27t to 30 for 90
days' paper, but Hamburg was firmer at .13 5} to bi,
Trieste was 12 37 to 45, and Amsterdam 11 17k to
171, being the same as previously.
The shipments of' gold direot from London dur-
ing the week to Thursday last were 2,999 ounces,
and of silver 202,584 ounces.

The Funds are inanimate and without buoyancy,
for although the Bank return is good, the deluge
of complaints from the Crimea is dispiriting.
Consols have been 91k and are now 91i ±. Ex-
chequer Bills realise 4s. to 75., and India Bonds
12s. premium.
Foreign Securities are mostly nominal. The
Turkish Stock keeps up at 75/ Mexican is
-farmer at 21. Dutch 4 per Cents. have been 91
to Olf.
The following are the nominal prices of foreign
stocks :—Grenada Deferred Bonds, 5 to 6 ; Mexi-
can, 20f to 21 ; Peruvian, 69 to 71 ; Ditto 3 per
Cents., 48 to 50 ; Portuguese 4 per Cents., 41 to
43 -; Russian 5 per Cents., 97 to 99 ; Ditto 4} per
Cents., 87 to 89 ; Spanish New Deferred, 18i to
181 ; Ditto 3 per Cents., 38k to 38i ; Ditto Certifi-
cates, 5 to 5i ; Ditto Passive, 41 to 41.
'For Railway Shares there has been a tolerably
firm market, and with moderate transactions, but
prices are not generally higher. The Great
Northern Shares are in request, and the A. stock
is dearer. Foreign Shares are about the same.
The Colonial Mining Market is dull. The Joint
Stock Banks are steady. Crystal Palace maintains
its price.

'BRITISH FUNDS THIS DAY.—CLOSING PRICES.
( Prom the Official List. )

Eu•iness done
3 per Cent Corsols Annuities
India Bonds. £1000
Consols for Account, 10th January
Exchequer Bills, 21d.
11000
2500 7 4
Small ' 7 4
PRICE OF FOREIGN FUNDS THIS DAY.
Mexican 3 per Cent. -
Ditto for the Account 2l
Buenos Ayres Bonds, 6 per Cent -52 1 3
Spanish Bonds, 3 per Cent —
Ditto Passive (Converted)
Turkish Scrip, paid up in full
Ditto for the Account 751 i
Dividends on the above payable in London.
Dutch Exchange, 2i per Cent. 12 Gull —
D:tto.4 uer Cent. Certifieates. ...
THREE O'CLOCK.

nonsola
Ditto, January Account

911 3 g d

THE FRENCH IN- ALGERIA.

The French Minister of War has received the 76
following report from the Governor-General ad 5
interim of Algeria : 5
20

" Algeria, Dec. 15.
" Monsieur le Markhal,—By the mail of the 10th
I addressed to your Excellency a statement of the poli-
-100
tical situation of Algeria. That situation has since im-
-100
proved, and we are everywhere in the way of progress. 100
The following is a hasty sketch of affairs. I yes- 100
terday gave the investiture to the Cheik of the Ka-
byle tribe of the Beth Raten, which is an important 20)
fact. The measure, by which, on the 15th November 100'
last, by order of the Governor-General, bands were laid 20
throughout the whole of Algeria, from the frontier of 5
Tunis to that of Morocco, on all the men belonging to 20
that tribe who were travelling on onr territory, was per-
fectly successful. These mountaineers, who are the 4
richest of the Jurjura, immediately comprehended 20
that the prolongation of this measure was for them 20
equivalent to a tegular blockade ; that it would 20
destroy their commerce ; and that the fall of that 20
commerce would lead to that of the political influ- 33!
ence which they exercised in the Upper Sebaou. They 10
therefore immediately demanded to treat, and notwith- 2P
standing their pretensions, I firmly maintained the con-
-20
ditions imposed by General Bandon in his spring cam-
-20
paiga. The questions of taxes and hostages were 16
settled without dispute ; in a word, they accept a 20
situation similar to that of the other Kabyle tribes who
have submitted to our authority. All was decided on
in one morning, and yesterday they swore on the Koran
to fulfil their promises, and I gave the Inn-nous to their
Caids. While things are thus improved on that part of 20
the Tell our affairs in the south are going on satisfactorily.
On the Bth Col. Desvaux was occupied in regulating the
g
organisation of Tuggurt, the possession of which has 40
been already made known to your Xxcellency. At 20
Ouargla our success has exceeded eur hopes. Captain 20
Colomb, who arrived in that oasis with a simple escort 20
of spahis and the goum of our khalifat, Si-Hamza was re- 20
ceived by a public fete, but he boldly interrupted these 20
demonstrations, and in the midst of the people, who were 5
stupified with astonishment, he reproached Ben Babia,
the cs,id of Negonca, with having had relations with
20
the cherif, and ordered him to point out his accom- 20
plices. Ben Babia hesitated, bnt Capt. Colomb seized
on 20 of the principal inhabitants of the town as hostages, gi
enforced the payment in advance if four-fifths of the tax, 10
replaced Ben Babia by his brother, restored the autho- 20
rity of Si Gonbir in all the oasis of Ouangla, and after 20
leaving with that chief the means of maintaining his po. 6
shims, retired with our khalifat, Si Hamza, who was slur- 20
prised and overjoyed at the display of so much energy
and so much confidence in our strength. The restoration
of our power at Ouargla, and the submission of Tuggurt
give us an excellent attitude in the South ; never have
we yet ruled under such conditions asfaras the southern
limits indicated by Nature for our Algeria. Beyond
that our influence can only reaoh by means of commer-
cial relations, and commercial interest wil; connect us
with those parts without our having to occupy ourselves 1
with them. They are too distant to serve as the basis 1
of operations for the agitators if the Sahara. You thus
see, Monsieur le Marechal, that the political situation of
the country is good, and we have reason to congratulate
ourselves on it:—Accept, &c., " PELISSIER