The Sun.
London, England, 1848-02-14 00:00:00

MONDAY EVENING, FEBRUARY 14, 1848.

MONEY and COMMERCIAL INEWS.
CITY, ()VARIER TO THREE.
The Cotton Market at Liverpool on Saturday was
firm. Sales, 5,000 bales. Railway Shares were dull.
The Continental advices received this mottling are of
but little general interest.
The accounts from the United States have been pe..
rased with interest, and the greater ease in the Money
Market is a satisfactory feature. It is stated that—
" It has been asserted that the Secretary of the Trea-
sury was in favour of an issue of Treasury notes of
small denominations, such as fives and tens, bearing
but a nominal rate of interest. Such is not the
fact. The Secretary is in favour of no such
thing. He is not in favour of Treasury
notes of any kind, or in any shape; but he is
in favour of raising another loan by a direct issue of
Government stock, bearing six per cent. interest; or, in
other words, he is decidedly in favour of the plan pro-
posed by the Chairman of the Committee of Ways and
Means; and no one on that Committee can be more
anxious for the negotiation of a loan in that man-
ner, which is, in fact, the only legitimate way, than
the Secretary of the Treasury. The issue of
Treasury notes, in any shape, is in direct opposi-
tion to the financial policy of the Government ; and
the issue of these notes has only been resorted
to on account of the peculiar nature of the expenditures
of the Government, and the dim seed state of the
Money Market. We see the evil effects of the system
in the present depreciation and the large amounts daily
paid into the Custom-house for duties. The revenue
of the Government is principally paid in these notes,
and the public indebtedness is becoming rapidly
liquidated. The Government is, in fact, paying off
its old debts, while it is about entering the mar-
ket to negotiate a new one. We see in this the evils
of the Treasury note system, and there is no way
to avoid them, but by negotiating a loan in the really
legitimate way. So far as the movements of the Com-
mittee of Ways and Means are concerned, we give them
credit for nothing else than a disposition to embarrass
the financial operations of the Government, and to force
it, if possible, into a repeal of the most important mea-
sures of the country. This Committee has, perhaps,
unwittingly fallen upon the very method the Secretary
of the Treasury prefers to all others; and if a loan can-
not be negotiated upon the terms pr,posed, the Com-
mittee have assumed the responsibility."

In Canada political excitements interfered much with
business.

The Funds are rather quiet again, hut they maintain
nearly the previous rates. The accounts from Russia via
Amsterdam state that great exertions were making to
recruit the army in Poland, and that the corps raised
there would replace troops that were expected to be sent
to Gallicia with the view of assisting Austria, if neces
sary, against its Italian subjects. Consols have been
89+ to / for present transfer, and 89i / for account.
Exchequer bills have been marked 235. to 27e. premium
for the June, and 18s. to 225. premium for the March
bills. East India Bonds have been at 18s. premium.
The New Three-and-a. Quarter per Cents. have been
90a Bank Stock is worth 200. Consols now are 89i
for account.

In the foreign market the dealings have been limited.
Mexican are rather firm, but not higher, viz., 19i,
Spanish Five Fer Cents. have realized 21i, and the Three
per Cents. 32. Portuguese Four per Cents. have been
at 81. Venezuela are 39. Brazil Stock realizes 85k.
Dutch Four per Cents. are 851,
Railway Shares are not brisk, and prices seems to
have varied but little. Eastern Counties are 15/ i;
Birmingham and Oxford Junction, 24 to i; East
Anglian, 11 i; Edinburgh and Glasgow, 421; Great
Western, 1001 to 102; Lancaster and Carlisle, 54;
Brighton, 37 to 371; Midland, 1131 to 114; North
British, 26; North Stafford, 10k; South Eastern, 301;
York and Berwick, 35; and Northern of France
These are actual bargains.
BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Official List.)

Bank Stock 2OO

3 per Cent. Reduced Annuities ...... 89%1%
3 per Cent. Consols Anna 89%!/41,
New 31/4 per Cent. AIMS. 901/
Long Annuities, Exp. Jan. sth, 1860 9 1-16
Do. 30 Years, Expire Jan. 5, 1860.. 8% 11-16
India Bonds under 1,000/.. ..... ....... -. lB p
Consols for Account B9l/4%
Exchequer Bills. 3d.
June. March.
1,000/.
500/. 23 p
Small
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent
Ditto Small
Ditto, New, 1843
Mexican Bonds, 1846, 5 per Cent —
Ditto for the Account
Portuguese Bends, 5 per Cent Bl
Spanish Bonds, 5 per Cent, 1840
Ditto Passive Bonds 4's
Spanish Bonds, 3 per Cent B2
Venezuela Bonds ...
Dividends on the above payable in London.
Dutch 21/2 per CenL,l2 Guild —
Ditto 4 per Cent. Certificates
BUSINESS DONh IN RAILWAY SHARES AT ONE O'CLOCK
RAILWATS. PAID. ra: sNARE.
Aberdeen
Amber., Notting., Boston, &c. 2% — ...... to
Ayrshire and Galloway
Belfast and County Down .. 10 .. ..
girmingtiam & Oxford June... 20
Birmingham, \Vol., & Dudley 10 ... .
Birnting., \Vol., & Stour Val. 10/.145.... . ..
Birkenhead, Lancashire, and
Cheshire Junction.. ...... ... 7% — ...... to
Boston, Stamf., & Birming... 5
liiistol and Exeter

D0., Thirds
13uckinglianishire l2l. 4.3 —
Caledonian
Ditto, Half Shares - ..... to
Ditto, Clydesdale Junction 50
Chester and Iloiyhead 37%.....
Ditto, Preference l2. . —

Clarence..... 7814 —
to
Do., let Class, 6 per Cent... 10 •.. to

Do., 2d Class, 5 per Cent... 10
Do., Gov. Loan, 4 per Cent. 10
Direct London & Portsmouth 3% to
Dublin and Belfast Junction.. 25
Dundalk and Enniskillen ... 17% — to
East Anglia, 251. L. & E.,
and L. &D. ...25 ...... 11% to
Ditto, 181:, E. & H lB ...... 8
Ditto, 31. 10s., E. & H... 3% B%. ..... to
Eastern Counties
Ditto, ditto (B)
Do. Perpet., 5 per ct. No. 1,6/. 13s. 4d...
Do., do N 0.2,61. 13s. 4d...
Do., Northern & Eastern... 50
Do., Quarter .... .. ..... .......
221....
Do., New
E:4si ersn Union. 5O
Ditto, Quarter Shares
.._ .

Ditto., Thirds .. ......... ...13s. 4d — to
Ditto (guar. 6 per cent.) ... 10 ......
Ditto, ditto .................• 20 ......
East Lancashire
Ditto. New
Do., New Quarters
East Lincolnshire ... 16%
Edinburgh and Glasgow
Ditto, Half Shares
Ditto, Quarter Shares 12% v~
Edinburgh and Northern ... 22%
Ditto, New..... ... ..... ...... 3% — ...... to
Ditto, New port l2
Ditto, ditto, New 24
Exeter, Yeovil, & Dorchester 2% — ...... to
Ditto, New
Glasg., Dumfries, & Carlisle-8/. 61.8 d... .. to
Glasgow, Kilmarnock, & Ayr 50 ...... to
Ditto, New 4O —
D0..111 Shares (5 per ct.gua.) 12% ..... .. ... to
Great Northern lO% 4% to
Do. London & York Exten. 2% — ...... to
Gt. South. & West. (Ireland) 37% to
Great North of England 100 —
Ditto, Nt w 401.
Ditto, New 30/
Ditto, New 15/...... ... ...... 6%...... . ... to
Great Western 9O lOOl/ ...... to 102
Ditto, Half Shares ...... 50
Ditto, Quarter Shares
Ditto, Fifths
Do. New 171 9 %..... 10% to
Huddersfield and Manchester 24 .. ...
Ditte, Thirds 8
Hull and Selby 5O lO 4
Ditto, Half Shares
Ditto, Quarter Shares 121%2 — to
Ipswich & Bury St. Edmunds 17% — ...... to
Do. do. and Norwich
Do., do., Extension Scrip
(late (Camb. and Ely) 2%.....• ..... to
Lancaster and Carlisle.... ... 50
Do.,Thirds lO
Lancashire and Yorkshire ... 93 ..... to
Ditto, ditto ... 82
Ditto Half Shares - 38
Ditto Quarters
Ditto Fifths
Ditto Sixteenths ..—„,„.. 0A..." — .. ... to
Ditto Thirds (Reg.) ... 101.48. 474 dis. to
Do. Liverpool and Bury... 38
Do. ("rudders. and Shelf.) 33
Do., Wakefield, Pontefract,
and Goole 471/2
Do., Wes: Hiding Union ...41. 2a.....
Do., Preston and Wyre ... 25
Do., do., Half Shares (A) 9 — to
Ditto ditto ..............(B) 114 —
Leeds and Bradford
--
Leeds, Dewsbury, & Manches. 421/2 —
Do., Branch 1/2 Shares l5 ......
Ditto, IN ew Branch (blue).. 21/2
Ditto, Extension (green)... 2% — to
Do., New Exten. (pink)... 2% — ...... to
to
Leeds and Thirsk 4O
Ditto, New
Do., do., Prefer., 6 per Cent. 3%. ....
Liverpool. Crosby, and South-
-2
port.
Liverpool. Manchester, and 1
Newcastle Junction .......
London & Blackwall —l3/. Gs. 8d 5*%4%••• to
Ditto New, No. 2 4/. 13s. 4d.... 1 die._ to _
Do. Extension ........ ..... 171,2 — ...... to
Lond., Bright., & South Coast 50
Do. Consolidated Eighths... 30
Do. Guaranteed 5 per Cent. 9 . —
1)e. Pref. Cony. 5 per Cent. 50 ....„
Ditto, ditto 1852 50 .....
Lointi.t. and Greenwich... 12/. 158. 4d...
Ditto Preference ........181 17s 2d... -- to
:
London & North Western.....loo ......145 ..
t
Do. Quarter .....L. and B. 22
Do. do. New ..-.. .... ...... 2
Do. do. Fifths
Do. Quarters
DO. 404 ShareS.....L. &M. 15 - ...... to ---