The Sun.
London, England, 1860-12-31 00:00:00

COMJIERCE AND FINANCE OF 1860.

Summary of the principal financial and com-
mercial events of the year now closing :
Jan. I.—Consols, 95f ; French Three per Cents., 68f. 90c.
Proposal put forth by Messrs. Baring and Glyn on behalf
of Government of Canada, to convert the various debts of
the province, amounting to £11,661,010, into a consolidated
5 per cent. stock, irredeemable for 25 years. This arrange-
ment involved the payment of certain old bond.s and an
issue of £2,800,000 new ones on the London market, the
whole of which were rapidly subscribed, the applications
having reached about £22,000,000.
Jan. 3.—Announcement of peace between Buenos Ayres
and the other States of the Argentine Republic. Buenos
Ayres Six per Cents. 82, whence they have since steadily
advanced to 961.
Prospectus issued of the Bank of Turkey.
News of treaty concluded by Mr. M'Lane, the United
States' Envoy in Mexico, and the Juarez Government in
Vera Cruz. This treaty failed to obtain ratification at
Washington. Mexican quoted 23.
Jan. 12.—Notice from the colony of Victoria fixing the
issue of Victoria railway debentures in 1860 at £3,000,000.
Jan. 16.—Commercial manifesto of the French Emperor.
Consols firm.
Jan. 17.—New Belgian loan of £1,800,000 introduced at
Brussels at 95.
Jan, 19.—Encouraging report published of Grand Trunk
Railway of Canada, from Mr. Blackwell, its vice-president
and manager, on opening of Victoria-bridge.
Bank rate of discount raised from 21 per cent., at which

had stood for six months, to 3 per cent. Consols, 95k.

Jan. 26.—Outline of Treaty of Commerce with France

published in the Tatrie.
Cape of Good Hope Six per Cent. Government Deben-
tures for £50,000 adjudicated at prices varying from 105 k
to 1081.
Jan. 31.—Bank bullion reduced to £14,542,502, or
£1,918,322 less than on the let of January, owing chiefly to
continuous purchases by the public of the Indian Rupee
Debt and other Indian Securities. Bank discount advanced
from 3 per cent. to 4 per cent. Consols, 94.
Feb. I.—Silver discoveries at the Washoe Mines an-
nounced from California.
Feb. 10.—Budget of the Chancellor of the Exchequer,
showing an estimated charge of £70,000,100, and a surplus
of £464,000. The diminution of revenue was estimated at
£1,100,000 from the French Treaty, and £1,900,000 from
the abolition of Customs and Excise duties, including that
on paper. On the other hand, new imposts and savings
were to yield £982,000. The balance from alterations,
therefore, showed a net loss to revenue of £2,108,000. An
increase of the income-tax from 9d. to 10d., and an altera-
tion in the collection of it, so as to force an additional
quarter into the current year, a shortening of the malt and
hop credits, and a renewal of £1,000,000 Exchequer-bonds
maturing in November, were the main resources adopted to
restore the account and to furnish the surplus promised.
Intelligence from India that a Government issue of notes
had been resolved upon ; the first emission to be £5,000,000,
but future issues to be made without other limit than the
necessity of holding a sum equal to one-third of the amount
in bullion. The latter part of this proposal was subso-
qultly disallowed by Sir C. Wood.
Introduction of a bill by the Railway Companies Associa-
tion to enable railways to escape the liabilities of the Com-
mon Carriers Act. An analogous movement had been
made by the Great Western Company in 1559, but without
success, and the present measure ultimately shared the

same fate.
March U.—improvement in India rupee paper on defini-
tive statement from Calcutta that no further loans would be
required, and that the deficit for the current year to be
made up by new taxes would be only £900,000. Rupee
Five per Cents., 99; Five-and-a-llalf per Cents., 1051.
March 15.—Half-yearly Court at Bank of England ;
dividend of 4i percent. declared, leaving the Rest £3,025,991.
March 16.—Introduction of anew Bankruptcy Bill, con-
taining 529 clauses, by the Attorney- General; subsequently
abandoned.
March 18.—Brazilian Four•and-a-Ilalf per Cent. Loan
for 4373,013 introduced by Messrs. Rothschild at 90, or
£BB 3s. Bd., reckoning dividend, &c.
March 20.—Intelligence of the proposals of Mr, Wilson