The Sun.
London, England, 1842-01-19 00:00:00

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EVENING- SUI-,'-
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MONEY MARKET and CITY 1411'.-1" .41t -A
FROM THE MORNING PAPERS OF THIS DAY.
L:llEB.—The premium on gold at Paris is. 7 per
milk, which, at the English Mint price of 3/. 17s. 10H.
p ounce for standard gold,:gives an exchange of 25.32. -
a d the exchange at Paris on London at short being
25.50, it follows that gold is 0.72 per cent. dearer in
London than in Paris.
By advices from llainburgh the price of gold is 428'
per mark, which, at the English Mint price of 31. 17s. 103 d.
per ounce for standard gold, gives an exchange of 13.61,
and the exchange at Hainburgh on London at short
being 13.81, it follows that gold is 0.93 per cent. dearer
in London than in Hamburgh.
The course of exchange at New York on London is
109 per cent., and the par of exchange between Eng-
land and America being 109 23-40 pergcaenst.t, it follows
; against that the exchange is 0.58 per cenlt
orli being for bills
But the quoted exchange at New
at 60 days' sight, the interest must be deducted from
the above difference.
A movement is just now being made in the Coffee
trade, for a modification of the duties levied on the vari-
ous descriptions; and the promoters have, it is said,
already prepared a petition to the President of the Board
of Trade, eriabodying their wishes on.the subject. The
matters •ffiscussed in the petition, which has gone the
round, and received the signatures of all the lea g,
in the trade, are not new, but have before boeli
broached, though without any practical success, and the
reason why they are again renewed is the confident
knowledge of the desire of the present Government to
look into the various evils complained of as existing in
our commercial system, with the view of rendering all ne-
cessary relief. The petitioners appear to consider that the
reduction of the present duties levied on Coffee are not telly
necessary to the existence and prosperity of the trade, but
also that the revenue • would be greatly increased bythe
alteration, and show that since the duty has been re-
duced from Is. per lb. to 6d. per lb. there has been an
increase in the collection by the Customs and Excise of
nearly double the amount originally collected. The
scale of duties proposed, and which are stated to be
sufficient for the protection of the various interests iden-
tified with the trade, if proper measures are adopted to
'prevent the enormous adulteration now in practice by
disreputable dealers, is 3d. per lb. on certificated British
plantation coffee ; 3d. per lb. on Mysore, which is stated
to be in reality British plantation ; 4id. per lb. on coffee
imported from British ports within the limits of the East
India Company's charter, without a certificate of growth;
' and 73d. per lb. on all foreign coffee direct ; which it
will be observed is a reduction of one-half of the existing
duties, except in the case of Mysore, which is reduced
one-third, •to bring it on a level with the admission of
the produce
,of our colonies, and for the reason before
stated. There is every reasonable' expectation, seeing.
the high respectability and character of the parties who
have taken the matter up, of its receiving attention in the
proper quarter.
HE X—Excapting some few transactions of
trifling importance in Spanish and Portuguese securities,
the Foreign Market was in an inert state. Portuguese
rather took a start, but for what reason, excepting that
the Government at Lisbon are contracting more loans
upon nsorious and ruinous conditions, and therefore
plunging more deeply 'and irretrievably into debt, does
not appear. The immediate effect may be to enable them
to raise money sufficient to pay a dividend more or so
here upon the bonds ; the more certain effect hereafter
must be to disable them from payments altogether, when
the newly-created debt comes to press for redemption or
dividends in addition to the old.l
Cape papers of intermediate dates, and Graham's Town
Journals, to the sth Nov., have arrived to-day. The
prospects of the farmers of the latter colony were very
encouraging. The result of the sales of the last ship-
ment of wool to this country had been received, and had
prove to be most satisfactory. The cross between the
Leicester rams and the Saxon and Merino ewes had
fetched the highest prices, far above give of the origi-
nal Merino and Saxon breeds. Independent of the value
of the wool grown off this description of sheep, the
quantity has been, at the lowest calculation, double that
of the other, while the weight of the carcase was in-
creased nearly 50 per cent.; and the animals throve far
better than the old sort, and came earlier to maturity.
This sort of wool was of a firmer staple, and with more
body than is usually met with in the produce of the Cape,
and by comparison with the prices realised by the other
farmers, showed that the cross had been adiantageous in
.every respect.
The value of land was rapidly improving ; a farm,
which two years since had been sold for a sum not quite
equal to 2,0001., had lately been resold for 3,500/., or
about 14s. per acre. This presents a complete contrast
to the land in the districts which are altogether culti-
vated with vines and corn, in the neighbourhood of the
old districts, where for sonic time past it had been diffi-
Cult to find fir it purchasers, except at. rates which were
merely nominal.
Port Natal was also increasing in importance. The
bar at the entrance, which had hitherto been supposed
to be an obstacle sufficient. to render the harbour useless,
had been lately passed by vessels, which, upon sound-
ing, f;mnd 18 feet 4 inches upon it. It was also content- -
plated to fiirin a jetty, plenty of materials being easily
procurable ; and it was expected that when this work
was completed, the depth of water on the bar would be
30 feet, a fact most material for the steamers with which
it was likely this port would be visited. The depreda-
tions of the Caffres were increasing, and called for a de-
termined and vigorous opposition.
St N.—The public securities evinced more firmness, in
the absence, however, Of any extensive purchases.
‘Ylien on. a. the Government sales are suspended there is
every probability of a steady improvement in prices.
Consols for immediate transfer were quoted 88& to 89k,
and for the Account 891 to 89k. Exchequer Bills were
a. shade higher, viz. 15s. to 18s., and India Bonds 10s. to
12s. premium. Bank Stock realised 167, and East India
Stock 2461 to 247. The New Three-and-a-Half per
Cents. were at 9841 to 99, and the Three per Cent. An-
nuities 891 to 89..
The market for Portuguese Bonds again exhibited an
improvement to-day, but Spanish Stock was flat, and in
the other Foreign Bonds there was no alteration. The
New Five per Cents. Portuguese advanced from 33 and
334 to 34 and 342 for Money, and touched 341" for Time.
The Three per Cents. rose to 19,-/ and 901. Spanish
Active Bonds were 24/ ; Mexican 291 ; Colombian .1;
and Brazilian 65 ; Buenos Ayres Bonds were 19i to 20;
and Peruvian 15 to 151 ; Dutch Five per Cents. brought
1001 to 101.
The Railway Shares also manifested less inactivity.
Great Western were. 23, the New 11 ; the Birmingham
80, the New 27 ; and the South Western 198 to 20k
premium. Brighton were 11?,-, and Eastern Counties 144
discount. London Joint-stock Bank Shares were 2, pre-
mium ; and National Provincial Bank of England to t
discount.

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The Foreign Exchanges were not quite so low to-dad•.
Bills were negotiated on Hambnrgh at 13 104; on Paris
at 25f. 77}c. to 823 c. ; on Frankfort at 150 to 150 41 ; on
Amsterda►n at 12 4e to 4i ; on Trieste at 9 52 ; and on
Antwerp at 12 4 to 4-4-.
The following arc the official returns of the exports of
bullion from the port of London for the week ending
Thursday last:—
Silver coin to Hamburgh...; .... 10,000 oz.