The Sun.
London, England, 1840-12-19 00:00:00

MONEY MAItKET and Cir.E E 1 S.

(FRIDAY EVENING.)
CHEONICL.E.—As compared with the rates of
last post, we tto not feel ourselves warrant `•ed in say, ing
that this day's exchange exhibits any in. tprovemea
we cannot, therefore, look for any relaxa lion of tile
pressure on the Money Market, but during the winter
months must rather expect to find the pinch of further
measures of restriction in the circulation. The Directors
of the Ban/r, we believe, have been giving , 7iit within
this day or two tbat their stock of bullion ha t been on
the increase lately, and that they int:re four n antis in
their coffers. At this ['forind of the year there is gener
ally an Increased supply of gold, after the open ations of
the harvest, sent from the country, but we bei leve the
amount has been less this year than usual. l 'here is
ao trade going on at present with the conti lent of
Europe adequate to turn the balance, and the rn, tritime
intercou:le with the more northern parts is ; c deed
stopped by iN ice. If the winter months wr:re over.
there ore, howec,er, good prospects for the spritv
our relations with :be Celestial Empire were pi. 'ta
upon a satisfactory foo!ink, and that immense 11
field
:.thrown open to oar enerchante, it is impossible to cal, Itt,
late the stimulus which such art era in the history oft
civilisation would place within the reach of British en;
terprise ; but these results cannot benefit the Bank 0)
England in its present need ; and however encouraging:
the future may be, it must not be relied upon as the:
means of getting over existing difficulties.

• TI'MES...--The commercial condition of the Spanist
port Almeria is described 'in a pric•ate letter dated du:
Gt h inst. Lead is said to be the staple article of
ex-
port from Almeria, Roqueta, and Adra, and it' is
supposed that no less than 30,000 tons have bet'
shipped from these ports during the present year,
besides about 2,000 tons from Mala,ga, at prices
averaging from 151.55. to 16/. per ton. The inhabitants
of the Alpujarras (so is the lead district 'called) arc in
consequence in a prosperous state, but their miserli,
habits prevent their prosperity being of any real benefit
to the nation, since, instead of employing the monety
they get by the lead in any useful undertaking, theb-
hoard up nearly the whole of it. The large profits
realised by the lead mines have induced several e.f
the capitalists of 'Granada .t 6 etnsark with gre4t
eagerness in mining speculation, many e,!* these netv
speculators rather searching for silver an. 4 coppjr
than lead. The proprietor of a lead mire ne.Ar 13(+I
has discovered that about five per cent. is mixed up' w'lh
the lead, and has, therebre, exerted himself to fit.'da
vein exclpsively silver. The annual exportation ."if
lead and cotton is estimated at a value of abot4t
538,000/., in addition to ishich Almeria ships about
1,000 tons of barilla, at an average price of 9/, The
discovery of a cheap substitute in. Great Britain has
diminished the consumption. Raw silk of fine qua-
lity (somewhat inferior to that of Valencia) is exported
to the value of about 25,000/. A kind of rush,
known in England as " wreught bass," which is the
peculiar growth of the • diStriet 'as far as Aguilas,
and .is used for coarse matting and cables, is ex-
ported, it is said, to the value of not less than 50,000/.
The quantity . of grapes exported yearly is valued
at nearly 8,000/., and altogether the exports from
Almeria, Adra, and Motril, are estimated at 630,000/.
Tue parsimonious habits of the lead proprietors and other
consumers prevent the value of the imports from being
great. Besides, the smuggler's' carry on a brisk trade
s from Gibraltar in British manufactured goods and fo-
reign salt fish. The salt fish legally imported into Al-
meria within the last year haS not exceeded 14,000
quintals, part of which has been brought under Spanish
colours to save the third of the duty, according to the
provisions of the decree passed during the Ministry of
M. Mendizabal, by which cotton, salt fish, and a few
other articles may be imported from Gibraltar in Spanish
vessels at only two-thirds of the duty levied when they
come from other ports.

POST.—The subject in which the mercantile classes
are just now taking a deeper interest than almost any other
that could be named is the state of the Continental ex-
changes. This was again a foreign post-day, and the
progress of the bill market was watched with the utmost
attention. The result of the afternoon's transactions
was, we are sorry to say, not one upon which we can
congratulate our commercial readers. Bills were passed
by a leading firm on Hamburgh, hut, with this excep-
tion, there was little or no paper offering on any point.

. .
The termination of the funeral ceremonies at Paris
was such as to afford -satisfaction, and, if any distinct
cause could be assigned for the improved tone of the
stock markets, it is probably this.
The news of some British officers having been seen
in the streets of Pekin, as communicated by the way of
St. Petersburgh, is thought to need confirmation. It
does not appear, however, that there would have been
any difficulty in getting later China intelligence through
the channel mentioned. There is no reason to suppose
that any British troops had made their• appearance in
the Chinese capital, as has been publicly announced.
It is judged that; if some of the 'officers were there, it
must have been in consequence of an invitation given
them by the Emperor to come • and treat, on the part of
their Government, for a suspension of hostilities.

_ .
SUN.—The Funds closed steadily this afternoon, but
with very. little doing. Consols were 89 for thl open-
ing ; Exchequer Bills its. premium ; Bank Stock 156! ;
the Reduced Three-and-a-Haq. per Cents. realzed
97 ; and the Three per Cents. 89.
The Foreign Exchanges were dcpreased again. Paper
on Paris at three months' date was not negotiated higher

than 25f. 50e. to. 55z. ,; on Hamburgh the rate was
13 G 4 to i ; on Frankfort 1484- ; and on Amsterdam
`2:- to ;,,
Foreign Stocks have been much neglected, being
under the influence of certain causes particularly
Mg each. With respect to the affairs of Mexico it may
not be irrelevant to observe that at the period of our
last advices, and when the Mexicans- proposed to rat-e
more, money in order to prosecute the war against
Texas, the tact of the independence of the latter
having been recognised by England could not
have beta known in South America, and it is
therefore net too much to assert, considering the great
addition of moral force which the infant State rsill
thereby acquire in the eyes of the world, that Mexico
will seek an early occasion to effect anamicabie arrange-
ment, ,rather than hazard the chances of a war. 'lnc
.quotations of the Peninsular Bonds have been heavy
to-day—Spanish Actives at 233 to 234 ; Portuguese
New Five per Cents. at 32k, and the Three per Cents.
at 21 s. Brazil Stock was rather higher—viz., 714 ;
Colombian Bands of 1824 declined again to 24 ; Mexi•
can were dull, at 28a Russian were firm, at. 1124 to
; Dutch Two-and-a-Halt per Cents. dropped to 51
and 50k, and the Five per Cents, to 974 to 1.
There was not much business done in Shares, and the
quotations, except is one or two instances, were barely
supported. Great Westcrn Railway Shares were -at
23, the New at 9,t to I() ; the London and Birming-
ham at 79 ; the Manchester an'? Leeds at 6 to 6:1 ;
the York and North Midland at 161 ; the South-
Western at 14a; and the Eastern Counties Debentures
at 2} premium. On the Brighton Shares there was
quoted a further payment of 101. each, making 50/., or
the full amount of capital ; the quotation rallied to 8i
to 74 .discount. Blackwall Shares were sto 51; and
Croydon 1 k discount. London.Joint-:•::tock Bank Shares
were at 3 premium.