The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1842-05-24 00:00:00

MONEY MUST

SATURDAY

reduction of the rate of low
terest on Exchequer-bills from 24d, to 2d,, which is now
officially announced, has been generally commended as a
proof of the acuteness and attention to business of the pre.
sent administration, who have lost no time in remedying the
blunder committed by the last. It will be remembered that
when the advance of lid. to ad. was made by the whigs, it
was the general opinion that 4d. was needlessly thrown away,
and that a rise to 2d. would have been quite sufficient, with
proper management, to keep the bills in circulation. By again
taking off the Id. the present ministers have brought Exche-
quer-bills to their proper value, and done away with the ano-
maly of keeping up the unfunded at a higher rate than the
funded debt, which should always bear higher interest, as
the capital is liable to fluctuation. The time also at which
the operation is effected is no less commended than the
principle of the measure, as Exchequer-bills are at such a
high premium that there is not the slightest chance of the
announcement of reduction being followed by a demand
for payment. Some, indeed, have expressed an apprehen-
sion lest the reduction of the interest on English unfunded
securities should give a new impulse to investment in fo-
reign stocks ' • but so decidedly unpopular have such stocks
become, and so many severe lessons of experience have
been learned by those who dealt in them, that the appre-
hension does not seem to be well founded, and the com-
mon opinion is, that the only tendency of the reduction
will be to drive people to invest in the English funded
securities. As a practical illustration of the disinclination
to have anything to do with foreign bonds, it may be men-
tioned, that while Consols since February have advanced
about three per cent., Dutch stock has advanced only one,
although it is by far the most secure stock of those that
commonly dealt in. It was remarked yesterday that the
operation had been pretty generally anticipated ; and this
accounts for the comparatively small decline that has ta-
ken place in the value of Exchequer-bills. Indeed the
June bills have for some time commanded a lower price
than the March bills, in consequence of such anticipation.
The public funds have been very quiet all day, and quota-
tions closed firm : Consols for money, 924 to ; ditto Ac-
count, 924 ; Exchequer Bills, 37 to 39 premium ; Bank
Stock, 167 to 168 ; India Stock, 249 to 250 ; 3 per Cent. Re-
duced, 914 to 4 ; 34 per Cent. Reduced, 994 to 100 ; New 34
per Cents., 1004 to 101 ; Long Annuities, 12 9-16 ; and
India Bonds, 21s. premium.
Chili stock rose to-day to 85 buyers, the committee of bond-
holders being summoned for Monday to receive proposals
from M. Rosales for the arrangement of the arrears of divi-
dends. This has taken the speculators quite by surprise, the
last letters for Chili having given no hopes of a speedy set-
tlement of this affair, although the agent employed had been
in close negotiation with ehe government. It is therefore
feared, that although M. Rosales may have a propcisition to
submit, it will be to the effect of allowing an increased con-
cession, though the bondholders have already determined
the length they will go. Other stocks also slightly im-
proved ; Spanish closing at 224 to 23 for the Actives, and 224
to 23 for the New ; Dutch 24 per Cents left off at 524 to 53;
ditto 5 per Cents., 101 to 4; Danish, NI to 814; Colom-
bian, 264 to 274 ; Brazilian, 674 to 684 ; Belgian, 102 to 103 ;
and Portuguese, 5 per Cent., 374 to 4.

UNIVERSITY AND CLERICAL INTELLIGENCE

On Saturday, the 14th instant, Charles William Stocker,
D.D., Professor of Moral Philosophy, late Fellow of St.
John's College, was instituted by the Commissary of the
Bishop of Lichfield to the Rectory of Draycott-le-Moors,
in the county of Stafford, on the presentation of the Chan-
cellor, Masters, and Scholars of the University of Oxford.
On Wednesday last, John Freeborn, son of Mr. Freeborn,
surgeon, of this city, was elected Bible Clerk of Worcester
College, There were seven candidates.

The Rev. D. Melville, of Brasenose College, who was no-
minated as a Master of the Schools on Wednesday last, has
been appointed one of the Tutors of Durham University.
The Rev. Thomas Rea Medwin, M.A. formerly of Wor-
cester College, has been presented to the Curacy of Christ
Church;Blackfriars, London.

The Rev. Mr. Tomlinson, one of the Secretaries of the
Christian Knowledge Society, has been appointed Bishop of
Gibraltar.

Rev. George Greases, M.A., of Corpus Christi College,
Cambridge, to the Incumbency of Christ Church, Herne
Bay.

Rev. Robert Shittler, M.A., Curate of Melcombe Horsey,
to the Vicarage of Alton Pancras, Dorset, vacant by the
death of the Rev. Henry Masterman ; patrons, the Dean and
Chapter of Sarum.

Rev. William Holmes, to the Rectory of Theverton, in
exchange for the Rectory of West Newton, both in Norfolk.
Rev. Richard Rigg, M.A. of Caius College, Cambridge,
to the Rectory of St. Clement's, Norwich ; patrons, the
Master and Fellows of Caius College.
Rev. W. W. Harvey, M.A. of Queen's College, Cam-
bridge, Rector of Truro, to be Domestic Chaplain to the
Earl of Falmouth.

Rev. Matthew Wilson, Curate of Edenfield, to the Per-
petual Curacy of Barrowford, Lancashire ; patron, the Rev.
R. N. Whitaker, Vicar of Whalley.
Rev. E. A. Webber, Rector of yßunnington, Somerset, to
the Rectory of Bathealton ; patroness, Mrs. E. Webber.
Rev. John Webber, to the Perpetual Curacy of Thorne
St. Margaret, Somerset, vacant by the death of the Rev. E.
Webber; patron, the Archdeacon of Taunton. lie has also
been licensed to the Chaplaincy of the Wellington Union.