The Sun.
London, England, 1857-08-01 00:00:00

MONEY MARKET

AND

COMDIERCIAL INTELLIGENCE,

CITY, Two O'CLOCK.
The. Liverpool Cotton market yesterday closed
firmly. The sales were estimated at 8,000 bales,
1,000 of which were taken for export and on specu-
lation. In the Railway Share market there was
no material alteration.
The Bank of England weekly return made up to
the 25th ult, is quite as satisfactory as was antici-
pated, but there is reason to believe that its suc-
cessor will be much less favourable. The bullion
has been materially reduced, and owing to the con-
tinued withdrawals a further important diminution
has occurred since the date of this statement. The
reserve of notes has been strengthened, and there is
a decline in the other securities, but during the
last few days a very active demand for money has
sprung up, and all unfavourable turn may also
have taken place in these departments. Unless
some of the gold due from Australia soon makes its
appearance, and presuming that the efflux will
remain unchecked, it is feared that the directors
'in again be compelled to resort to measures of
restriction. The principal items and the changes
they present are as subjoined :
Active Circulation
Decrease 400,605
Bullion 11,672,978
Decrease
Rest
Increase
Public Deposits
Increase
Other Deposits
Decrease
Seven-Day and other Bills 747,119
Decrease
10
Government Securities

No alteration
Other Securities
Decrease
Notes unemployed
Increase
The official return of the exports of the precious
metals from. the port of London for the week
ending Thursday last is as follows :
Gold Coin ... Belgium ••• 60 Ozs.
ft ••• Boulogne ... 80 ~
pp •
Zara ... Boulogne ... 20,000 „
800 ,r
.9t 2 ... Belgium •••
Silver Coin ... Boulogne ••• 400 I,
Belgium 400 „
Canaries ... 2,000 „
The Lightning has arrived from Australia
with 32,866 ounces of gold valued at about
131,5001. Any supply at this moment, when there
is such a rapid drain from the Bank is acceptable,
and if the Great Britain is soon announced, the
reduction in the Bullion may be temporarily
arrested. Yesterday a further amount of about
60,0001. was sent away.

ff fl,

Owing to the specie operations on the Continent
the exchanges are unfavourably influenced, and
yesterday a further slight decline took place.
A complete change has taken place in the market
for English Securities, the closing of Bear accounts
having caused a rebound in prices of about per
cent. amidst considerable excitement. The move-
ment is solely attributed to these operations,
although the revived rumour that Delhi has suc-
cumbed, has had an auxiliary influence. Symp-
toms of a rally were visible yesterday,
but they have been further developed to-
day. Consols for transfer have been 901 and
90i 91. These were also the quotations for
the 6th proximo, while for September the price is
about per cent higher. The New:3 per Cents,
are 91i, and the Reduced 91±. Exchequer Bills
are 2s. to is. dis., the Bonds 98,1, and India Bonds
20s. dis. India Stock is 214.
In the Foreign Market, which is generally
firmer, the principal feature has been the advance
Turkish 6 per Cents., which are now about 95
to 95k. The 4 per Cents. are 100 to 1001 ex-
dividend. Buenos Ayres 6 per Cents. are 84,
Mexican 3 per Cents. 22#, Russian 41 per Cents.
98i, Sardinian 5 per Cents. 89i-, Spanish Certi-
ficates 5a 1, and Dutch 4 per Cents. 98.
The following are the nominal prices of Foreign
Stocks ;—Grenada Deferred Bonds, 6 61 ; Mexican,
221 1 ; Peruvian, 80 82 ; Portuguese 3 per Cents.,
441 51; Russian 5 per Cents., 110 12 ; ditto 4i
Per Cents., 97 99 • Spanish 3 per Cents., 39 40± ;
ditto Deferred, 241 251 ; ditto Certificates, 5/ ;
ditto Passive, 51 I.
There was a very limited business transacted in
the Railway Share Market, but in most instances
a further improvement of about to per cent.
took place. Great Western, Lancashire and
Yorkshire and North-Western advanced 5% ;
and Midland and Norfolk, 10s. ; Caledonian,
however declined 10s., and North Eastern, York,
6s. ; North Western, Manchester, Sheffield, and
Lincoln, and South Eastern brought yesterday's
quotations. No business was transacted in the
French lines, and prices are nominally unaltered •
East Indian advanced about 10s., and Grand Trunk
and Great Western of Canada brought previous
rates.

Mining shares were rather firmer, but the deal-
ings were not extensive.
Joint-Stock Bank and Miscellaneous shares have
been very quiet, and show no variation requiring
special comment.

BRITISH FUNDS.—CLOSING PRICES—THIS DAY.
( From the Of coal List.)
Businers dcre.
a Per Cent. Reduced Annuities
3 per Cert. r onsole Annuities (OR 4 1
Ilew 3 per Cent. Annuities 9l 901, 1i
India Stock
I, ',D. Hondo, £IOOO
Cn.s o 1 3 for Account ' .....
Exchequer nue, 20.
£l000
-:StiCs
Ercsll ..............••• •
t Pxellequer Bends, 1370 i, :It, per Cent 9sa
~, PRICES OF FOREIGN FUNDS—THIS DAY.
nnenos Ayres Bonds, 6 per Cent. B4
erenada New Active, 23. per Cent.
Ditto Deferred 6
Mexican 3 per Cent —
Litto Account ...... 92a
Basilan Bonds, 1F,22, i; St., 5 per Cent.—
Ditto, 4i per Cent. OB aSihrcliiiian Bon's, 5 per Cent. •... 891
Bp.knish Cenunittee Cart. of Corp. int fun. sf-,
Turkish Bonds, G per cent —
Ditto Account 94 51
I:. Ditto Guaranteed, 4 per Cont.
Dividends on the above payable in Lonuen.
Anteh Exel:ange, 21 per Cenl., 12 Guilders --
Do. 4 per Cent. Certificates
TWO O'CLOC g .
Coppola, money
C.nsols for Account
Consols for account., September 9ll i

THE PRESTIGE OF EUROPEANS IN INDIA.--As DO man
is a hero with his valet, so wo may expTst the natives,
when they become more familiar with us, to cease to
regard us as demigods ; and the prestige which the
Eurepean now bears, and which hag hitherto been in-
valualle to him, will be lowered in the native mind.
Already is this effect visible in our large towns on the
frequented highways. The natives of the city of Bom-
bay are not, in the same degree as the up-country
stations, respectful to the lords of India. The more
unsophisticated the people of a district are, in so much
more awe is the European character held, and with so
much more respect are the Sahib log treated. In the
rural districts every European gentleman is, in
the eyes of the population, one of the governors of
the country. They have but an indistinct notion
of the difference of grades amongst us, from the
Governor down to the ensign They know we are
of the same caste, for we eat together—deeper into our
social scale they cannot go. Every one who has travelled
much in India must have become sensible of the fact we
have just stated, and from onr own personal experience
we could give many examples. But one may be suffi-
cient for our purpose. We recollect as a subaltern mak-
ing a night journey of seventy or eighty miles on a route
seldom travelled by Europeans, and we found the head
men of each village ready as we passed along, not to
present addresses, as is the custom of mayors and pro-
vosts when the Queen is on a progress, but to make
their salam, and ascertain that the bullocks, torchesand
whatever we wanted, were approved of. These men re.
mained out of bed--many of them nearly the whole night
—merely to do us honour. But again we have travelled
along the high road of the same district, and have been
very differently treated. Neither for love nor money
would the villages give us the the least assistance, even
when in difficulties from the state of the roads and the
season of the year.— praser's Magazine for August.
.
THE SCARCITY OF PAPER 1 was stated in May
last that the paper manufacturers of Westphalia
and the Rhenish provinces in Prussia bad agreed
to increase the price of paper 10 15, or'
20
per cent., according to quality. The
p'epg e; manu-
facturers of Northern Germany, at a meetin held at
Stettin, and those of Southern Germany, at one held at
Frankfurt, have since resolved to adopttbesame augmen
tation, and the measure has caused general dissatisfaction
in Germany, in which, from the immense number of
books, newspapers, and periodicals published, the
demand for paper is so very great. Although paper
has increased in Taint) throughout Ear, pa owing to the
scarcity of rags, the step taken by the German paper-
makers is regarded as uojuet, inasmuch as they have
long been doubly protected, first by a tax of from 60 to
1009 per cent. ad valorem, on all rags exported ; and
next, by one of about 30 per cent. on all paper im-
ported.