The Sun.
London, England, 1841-03-25 00:00:00

MONEY MARKET and CITY NEWS

FROM THE MORNING PAPERS OF THIS DAY.
CHRONICLE.—The plan adopted by the Chancellor of
the Exchequer has damped the expectations of some of the
great capitalists, who were expecting an invitation tg, come
forward in the usual way to supply his wants, by tender for a
loan ; but among the public generally it is admitted that, by
borrowing from the savings' banks from time to time, the effect
upon the Money Market will be less felt. By the scheme
which the Chancellor of the Exchequer has acted upon, prices
will, no doubt, be checked, and an occasional heaviness ex-
perienced; but if, instead of borrowing from the sayings'
banks, he had applied at once for a loan, the funds must have
given way from I to 2 per cent. in proportion to the amount
required ; for, independent of the legitimate result of the ope-
ration in praducing a fall in the price cf the public secu-
rities, a fictitious decline is always occasioned under such
circumstances by those who intend to become contractors. It
is supposed by some that Exchequer Bills have been granted
to the Commissioners for the reduction of the National Debt,
in exchange for the money borrowed, or that may yet be re-
quired from the savings' banks, in which ease recourse will
ultimately be made to the usual course of funding ; and this
belief has occasioned a fall of ls. in the price of the unfunded
debt to-day.
It might appear that an exchange of Exchequer 613i11s for
the stock sold could not affect the price cf the unfunded debt ;
but it must be recollected that if a demand came for money
from the trustees of savings' banks on account of depositors,
these Exchequer Bills might be thrown on the market. On
this point, however, considerable diversity of opinion is enter•
tained, and must continue, until the views of the Chancellor
of the Exchequer are more clearly cxpla;ned regarding the
mode by which he intends to replace the stock sold ; and this,
perhaps, may not be done until he makes his usual financial
expose in the Budget.

POST.—There was nothing passing of moment in this part
of the town to-day. The continued firmness of the fore►gn
exchanges is calculated to give increased confidence with re-
gard to the currency, but commerce is in far from a satisfac-
tory state. No profits have been made by the mercantile inte-
rest, it is said, for the last tw•o years, and the numerous failures
we have had occasion to notice of late have produced much
distrust among the bankers and money dealers.
The statement made by us on Monday evening under this
head, relative to the sale by the British and American Steam
Navigation Company of their fine vessels, the British Queen
and President, proves to have been perfectly well founded, as
was to be inferred from the circumstance of no contradiction
having been given to it. The two steamers, which were con-
sidered so triumphant an example of the superiority of the
naval architecture of this country, have, it is fully ascertained,
been actually disposed of to the Belgian Government. The
company are understood to have been but scurvily treated by
our own Government in respect to the mail contract.

SUN.—AII is suspense n the City with regard to t'
news expected before the close of the we -A from the 1.11
ted States, and the Funds have in consequence been very
heavy all day. For immediate transfer, Consols have inert
marked 88 to 881, and for time 8,4 to 881, the interme-
diate value being, about the late tcf th! day. In some
degree our market may be said to Le affeeted by the Re-
port of the Finance Committee in the French Chamber,
showing the enormous deficiency in the budget of 1842;
added to tl e proposed expense of public works, of
1,153,974,896 francs, for which it may be said no eff,ctive
resource has been created; so that sooner or later a new
loan all- ears inevitahl.. It is probable, however, that the
public here, who have lately Evinced such an unequivocal
disposithn to abstain from engagements or speculation in
fore'gn stock, would not be very eager subscribers for the
new debt of our Gallic ncighbouts. Exchequer Bills,
owing to the increased scarcity of money, the rate among
the jobbers being as high as 44 and 5 per cent. went
down to 7r. and 43. premium. The istrAv Three-and-a-
Half per Cents. realised 96a to ; and India Bonds were
a' 20s. discount ; Bank Steck was at aly at 170 for the
opening.
The Foreign Securities were scarcely dealt in. Spa-
nish Active Bonds were heavy at 23 LPortuguese New Five
per Cent. at 3o ; the Three per Cent?. at 181 ; Mexi-
can at 29a Brazilian at 71, and Chilian at 63 ; Dutch
Two-and-a-Half per Cents. were worth 50/3- to 4, and the
Five per Cents. 99g.
For the Railway Shares not quite such favourable
prices were obtained. The Great Western real,ed 23
to 221; ; the London and Bin-6(0,11am, 60 to 50i prem.
the Quarter, 16 prem. ; both Ex New and the South'
prem.; Greenwich were 124 ; Manchester and Leeds,
2 ; and Northern and Eastern, 24 dicount. Provincial
Bank of Leland Shares were at 18 prem.
The following picture of the prosperity cf the labouring
(lasses in the colony of Demerara pesetas so striking at
contrast to the condition of the peasantry and rri,ans of
this country as well as to merit attention. It is extracted
from a Guiana journal :—..
" In the Court of Policy to.day, was read a petition,
which deserves to be especially noticed. It was from a
labouring man in the neighbourhood of Moahica, whose
house and furniture, together with a gig and harness, had
been bur:.ed by an accidewal fire; and the prayer was,
that the Court should repair his loss, which, according to
the items specified, and the value petitioner set upon
them, was between seven and eight hundred dollars.
Refraining, in tie meantime, from any observation on
the expediency of the Court's entertaining or granting
such a request, it might mot be improper to draw public
attention to the extraordinary circumstance of a common
agricultural labourer having seven hundred dollars' worth
of furniture in his house. Few, if any, agricultural la.
bourers in the United Kingdom of Great Britain and Ire-
land cou4l lose one-third of seven hundred dollars' worth
of furniture, or anything else, if the whole property of
tha country in which they reside were burnt to ashes. This
petition ought to be published, to show the comforts and
independence of labourers in this colony."

Prince Charles Christian of Waldeck and Pyr-
mont was married a few days since at Cleves, to the
Countess Amelia Henrietta Julia of Lippe Biesterfield