The Sun.
London, England, 1842-01-20 00:00:00

MONEY MARKET and CITY NEWS.

FROM THE MORNING PAPERS OF YESTERDAY.
TIMES.—The premium on gold at Paris is 7 per
mile, which, at the English Mint price of 31. 17s. 10 d.
per ounce for standard gold,:gives an exchange of 25.32,
and 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 Ilamburgh the price of gold is 428'
per mark, which, at the English Mint price of 3/. 17s. 100.
per ounce for standard gold, gives an exchange of 13.61,
and the exchange at Hamburgh on London at short
being 13.8,1, it follows that gold is 0.93 per cent. dearer
in London thin in Hamburgh.
The course of exchange at New York, on 4.i10n is
109 per cent., and the par of exchange betty. Eng-
land and America being 109 23-40 per cont.,
i follows
that the exchange is 0.55 per cent. against England.
Bat the quoted exchange at New York being for bills
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 van-
'ous descriptions; ttlid the promoters have, it is said,
already prepared a petition to the President of the Board
of Trade, embodying their wishes on the subject. The
matters discussed in the petition, which has gone the
round and received the signatures of all the leading
houses in the trade, are not new, but have before been
broached, though without any practical success, and the
reason why they are again renewed is the confident
knovledge 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-
cediary relief, The petitioners appear to consider that the
reduction of the pi•esent dutiez levied on Coffee are not only
necessary to the exisence 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 lbsthere has been an
tte ciotoms and Excise of
increase in the collection by
nearly double the amount orig-Lnally' collected. The
scale of duties proposed, and which Are stated to be
sdfficient for the protection of the varjous interests iden-
tified with the trade, if proper measures afe adopted to
prevent the enormous adulteration now practice by
disreputable dealers, is 3d. per lb. on certih.."•ated British
plantation coffee •, 3d. per lb. on Mysore, whiCh is stated
to be in reality British plantation ; 40. per lb. 011; coffee
imported from British ports within the limits of the .East
India Company's charter, without a certificate of grolv:11,;
and 70. per lb. on all foreign coffee direct ; which 2:
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.
HERALD.—Excepting some few transactions of
trifling importance in Spanish and Portuguese securities,
the Foreign Market was in an inert state. Portuguese 1
rather took a start, but for what reason, excepting that
the Government at Lisbon are contracting more loans
upon usorious 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 gen.-the-lion& ; 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 14 addition to Ate old. •