The Sun.
London, England, 1842-10-17 00:00:00

MONE Y and COMMERCIAL, NE WS.

Cm', SATURDAY EVENING.

The purchases on account of the East India Com-
pany were, as it was stated yesterday, continued ;
these, with several small investments, gave an in-
creased firmness to the funds. Consols left off at 931
932 for Money, and 932 93 for the Account ; Bank
Stock, 164 166 ; India Stock, 250 252 ; Exchequer
Bills, 55 67 premium.
The prices of Foreign Securities were—Belgian
103 104 ; Dutch Two-and-a-Half per Cents., 522
52i; the Five per Cents., 100 1001; Danish, 83 84 ;
and Brazilian, 63 64.

The quotation for Mexican Bonds continued to
decline, they being last market 328 3211.
The Share Market showed some improvement;
London and Birmingham were 182 184; Bir-
mingham and Gloucester, 40 41; Great Western,
82 83 ; the Half-shares, 60 601; south Western,
57/ 571 ; North Midland, 57 58 ; the New shares,
28 29 ; South Eastern and Dover, 221 23 ; Eastern
Counties, 84- q; Northern and Eastern, 351 36-4;
Black wall, 6 61; and Brighton, 368 36a pr. share.
The quotations of the Bonds were Colombian
20 201; Peruvian, 15 16 ; Portuguese Five per
Cents., 361 37/ ; the Three per Cents., 211 221 ;
Spanish Five per Cents., 16 16i ; the Three per
Cents., 208 21.
By comparing the returns of the average weekly
assets and liabilities of the Bank of England, for the
twelve weeks ending the Bth inst., with that termi-
nating on the 10th Sept., the following result will be
perceived:—

LIABILITIES. £ .£
Circulation, Now
Last time

Increase 290,000
Deposit, Now
Last time ... 9,833,000

Decrease ..

465;090

ASSETS.

Securities, Now
Last time

00,573,000
23,159,000

Decreaso
Bullion, Now 9,633,000
Last time 9,177,000

Increase ... ....
Rest, Nov
Last time

Balance..

45.000

(From The Sun of Saturday Evening.)
The Funds continue firm, and several purchases
have been made for investment, but none of any par-
ticular moment, beyond one of 10,0001. Reduced, by
the Government broker. Consols are 931 931, for
Money, and 93 for the Account, which is fixed for
the 24th of November • Three per Cants. Reduced,
92:1; Three-and-a-I-lalf per Cents. Reduced, 1001 ;
New Three-and-a-Half per Cents., 1011; Bank
Stock, 164 166; India Stock, 250 252 ; Exchequer
Bills, 55 57 prem.
In Foreign Securities there has been scarcely any
thing done, and prices are without alteration ; the ap-
pearance of the market is, however, flat—Dutch Two-
and.a-Half per Cents., 52,1, and the Five-per Cents.,
1001.
A speculative demand has arisen for Mexican Bonds,
which are now quoted 321, having been 32i and 321.
The Share Market has presented no feature worthy
of notice, beyond a greater inclination to purchase.
London and Birmingham have been sold at 183 ;
Eastern Counties, 81; and Brighton, 361.
The Bonds quoted to-day are—Colombian, 20i;
Portuguese Five per Cents., 37/ ; the Three per
Cents., 221 ; Spanish Five per Cents., 161 ; and the
Three per Cents., 20i.
MANCHESTER STOCK EXCHANGE, OCT. 13.—Our
market continues very dull and inactive. London and
Birmingham New 321., 301 ; Manchester and Bir-
mingham, 194 201 ; Manchester and Leeds, 691 70;
Edinburgh and Glasgow, 45/ 46 ; Manchester and
Liverpool District Bank, 101.

CLOSING PRICES.
BRITISH, FUNDS.

flank Stock
3 per Cent. Red. 923
3 per Cent. C0n5..... 93g
3i per Cent. Red... 1000
New 3i per Cent... ...... 101 g
l'srw 5 per Cen'.
Long Annuities to expire
Jan. 1860 ......
Oct. 1859
Jan. 1860 l2 9-16

India Stock 251 i pm
Ditto Bonds ...... —pm
Ditto Old Annuities ...
Ditto New Annuities...
Ex. Bills, 1,000/....2d. 57 pm
Ditto 500/...... 55 pm
Ditto Small ...... —pm
Bank Stock for Open.
India Stock for Acct...
Consols for Acct.
FUNDS.

FOREIG
Austrian, 5 per cent. —
Belgian, 5 per cent
Brazilian 80nd5....
BuenosAyres6 per cent. 22i
Uhilian, 6 per cent.
Colombian, 6 per cent —
Ditto, 1624
Cuba Bonds, 6 per. cent 79
Danish, 3 per sent
Greek, 1825, 5 per cent —
Mexican, 5 per cent 32i
Ditto, 6 per cent. 1837
Peruvian, 1825, 6 per ct. 16
SHARES.
Eastern Counties Railway (23 paid) .....
Ditto New Shares ( paid)
Edinburgh and Glasgow (50 paid)
Great Western, (65 paid)
I hit° New Shares (50 paid
London and Brighton (50 paid) :36
London and Blackwall ( paid) .....
London and Birmingham (90)
London and South Western (4116 s 10d pd) 57
Manchester and Birmingham (40 paid)... .. 191
North Midland Railway (1(10)
Ditto Thirds (211. 13s. 4d. paid) .. 18
South Eastern and Dover (50 paid).........
Ditto Scrip (15 paid)

Portuguese, 5 per cent.
Ditto, New Ditto
Prussian, 5 per cent.
Russian, 5 pei cent —
Ditto, Meta11ic.......
Spanish, 5 per cent. l6h
Ditto, Deferred....
French, 5 per cent. —e.
Exchange
French, b 3 per cent —f.—,..
Dutch, 21, per cent. s2i
Ditto, 5 per ,en:. 100 i

THE QUARTER'S REVENUE.
TO THE EDITOR OF THE SUN.

SIR,—In order properlyio describe the deficiency
in the revenue, I consider that the amount of the pro-
perty-tax, 313,8441., ought to he added to the sum of
67,4731., and the deficiency made 381,317/. It is a
well-known fact, that the Government has not re-
ceived one single penny at present from the property-
tax. The sum of 313,8441., stated to have been re-
ceived has only accrued by means of a reduction of
expenditure, and not as a yielding or productive tax
to the Government. The sum of 314. in the pound
has been deducted from the amount of the half year's
dividends which have been paid ; so that the Govern-
ment has paid 98/. 10s. 10d., instead of 100/. ; there-
fore the sum held back, viz., 1/. 9s. 2d., is not an ad-
ditional sum of money in the hands of the Treasury.
A part of the sum of 313,844/, also arises from mo-
ney stopped back from Government salaries ; and even
a large sum—part of that stated to have been received
—will have to be returned to claimants whose incomes
are under 150/. per annum. A tax on the Funds and
on Government salaries never can be a producing tax ;
it merely acts as a reduction of expenditure. By
such reduction the Government has much more to ap-
ply to other purposes. Suppose, for instance, that the
Customs duties were expressly provided to pay the
dividends, and the sum to be paid was one million,
and afterwards a tax of five per cent. were put on the
dividends ; if the Customs duties did not produce the
million, as before, the Government would not benefit
the five per cent., although the creditors would be
mulcted that amount. I am, Sir, yours, &c.
Ilfracombe, Oct. 13, 1842. R. W. D.

BANKING HOURS.
(From the Atlas of Saturday.)
A proposal for altering the hours of business
amongst the bankers and monied men of the City, by
shutting the banks at four instead of five P.M., as at
present, has given rise, during the past week, to much
discussion, and to some of even an angry character.
On the one hand it is urged that the change would be
attended with very little inconvenience to the public,
and with very great advantage to the bankers' clerks.
Now, whilst from principle and inclination we are al-
ways disposed to regard with a favourable eye any pro •
position which tends to increase the comforts, and to di-
minish the labours of the middling classes, yet we cannot
admit thattheproposed change in the hours of keeping
open banks would "be attended with little inconvenience
to the public." We will take one example ;that will suffice,
though we could name at least fifty. The example is
drawn from the commercial department of bills of ex-
change. An honest tradesman gives his acceptance
in the usual course of business. When he gives it, he
has every reason for believing that he shall be pre-
pared to meet it on the day it will become due. But
he is disappointed in the receipt of money ; his
customers are backward in their payments ; and a
somewhat large bill is returned to him protested for
non-payment, and he must at once meet it, or
lose his credit. The consequence is, that the dis-
heartened and wretched man is obliged to run
half over London to get five pounds here, and ten
pounds there, very often in cheques on bankers
residing at the antipodes of Pall-mall and Penchurch-
street. At last he succeeds in his ob:ect, and his 1
hands hold within them the money's worth—but not
the money ; for though he has the cheques, and they
are all good, he has to get them cashed ; and miles
must be walked—many miles—before he will be able
to go to the banker holding his acceptance, and pay it
in due course and order. But the fatal hour of four
would strike before this could be. effected, and the
honest tradesman would be annoyed and cot: founded,
as well as injured and disgraced. We have addressed
ourselves to a fact of every-day occurrence where the
extra hour of four to five would be of vast import-
ance. Another objection has been made, arising out
of the second delivery of letters by the Birmingham
train at such an hour as to render it impossible to
transact the business directed to be done at the Stock
Exchange on the same day, if the banks closed at four.

The Dowager Lady Blackett has returned to Port--
man-square, from Thorpe Hall, Surrey.
Mr. William Stanley, who had filled the office of
Secretary to the Poor-law Commission in Ireland,
has just been appointed Secretary to the Police Com-
missioners of Dublin.