The Sun.
London, England, 1853-11-19 00:00:00

ON EY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool were esti-
mated at 6,000 bales, with a firm and steady mar-
ket. Railway Shares were firm at rather higher
prices.

A very favourable return is made by the Bank
of England concerning its position during the week
to Saturday last. Although tho balances of private
depositors were curtailed, the cause, no doubt, was
bona fide, viz., an opening for the employment of
the proceeds in trade, or their investment in Stocks.
The account of the Chancellor of the Exchequer,
it will be perceived, was augmented, and we think
we can trace this to some arrangement, whereby
the Bank of England added to the sum of the Ex-
chequer Bills in its possession. This would tally
with the recent offer to pay off the holders of South
Sea Annuities. The discounts were smaller, and the
reserve of notes and bullion being each materially
augmented, the assets of the Bank have decidedly
grown upon its liabilities, and its position there-
fore is stronger. That a re-exportation of bullion
18 shortly to be expected, which will change the
account again, seems, however, very prob able.
The following are the changes compared with the
previous statement :
Active circulation..

Decrease

£22,181,425
446,020
15,856,113
176,568
3,211,460
27,185
5,009,222

Bullion—

hacrease

Rest
Increase
Public Deposits

. . _
Increase
Other Deposits
Decrease 389,263
seven-day and other Bills 1,317,931
Increase
Government Securities 11,766,243
Increase 268,091
Other Securities 16,432,451
Decrease 317,248
Notes unemployed 7,005,750
Increase 583,865

The rates at which Bills of Exchange upon the
Principal continental cities were yesterday negoci-
ated were mostly rather lower. Paris, 90 days,
Was taken at 35 20 to Amsterdam at 11 15
tOl6, Hamburg at 13 4i to 5, Frankfort at 1184
t° It, and Trieste at 11 36 to 42.
The very important question as to the more gene-
ral opening of Australia to agricultural settlement,
Must ere long receive a solution, and it is satisfac-
tory to find from the despatches sent over by the
Governor of Victoria, and which have just appeared
111 the Blue Books, that his Excellency takes a
/new' calculated to favour the sale of land rather
than to lock it up in the possession of large squat-
ter& The production of wool in the colonies has
g°lle on increasing from year to year, and is, in
fact, the mainspring of their prosperity; but there
18 no doubt that the progress of Australia would
have been facilitated if agriculture, without detri-
ZOent to sheep farming, had been more attended
t 0• There is not much probability of a profitable
karket being found far grain, and similar articles
Produced in Australia, beyond the consumption of
the colonies, the freight and changes upon their
transportation to England being so heavy ; but, on
the other hand, at least, there ought to be no ne-
cessity for a country blessed with such a climate as
Australia, to draw its supplies of food from distant
Places. If a fair chance be afforded to the large
Population which has arrived there within the last
Year or two, all that is required will be produced
at home. The great difficulty now is, how to com-
pensate the squatters for the improvements they
have made, and for the privileges granted to them
by their leases ; but to push their demands to such
extremes as some of them are doing, is highly
'Unjust to the community at large, and if allowed,
Would be especially damaging to the advancement
of the colonies.