Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-07-23
FOREIGN FUNDS.

1 ne pals2 which commenced last week at
the Foreign Stock Market las been this week
carried to an extraordinary extent, without any
ostensible reason, beyond the depression in the
British Funds, which, has On nearly ell occasions
elected corresponding movement i'll these OF
Foreign Powers. The reaction, however, since
wednesday, has been so rapid as to show It
cncc that the prices Of Foreign Stock were de-
pressed ~ excessive speculation, mich below
their proper limits. This remark will apply
more particularly to the business transacted in
the South American Funds, in which there is a
wider field for job5iDg than in those OF Euro
pean powers Colombian Bonds have not re-
ceiYed SO violent SHOCK since the Government
OF South America disputed the powers of III.
Zea TO raise the loan.
The following were the lowest quotations OF
the South American Securities, in which specu-
lation has been most active during the extreme
agitation which prevailed at the Foreign Stock
Market on Tuesday. Colombian Script fvcper
cent discount; Colombian Bonds so; MeXican
SCRIPT IL per cent. discount; Chiii;in Bonds II,
and IN the Peruvian Script SIC hr,eyc some few
bargains where made even al 1os per cent dis
count. Tins depression was but nlonicntary. for.
before the close of business on the same day,
the acton amounted To nearly ? per cent
Yesterday the alarm had so much subsidized, that
Colombian and Mexican Script rose to J per
cent. discount, and the other South American
loans experienced similar elevation. In Rus
sian ans Prnssian Bonds, the decline calculated
on the highest prices within tie last three weeks
has amounted to nearly per cent. indeed, so
general was the aistrust Gu Tuesday, that it was
impossible 10 effect sales even at great sacrs-
fee.
After s:;icli delay and difficulty, it would an
pear That the Loan for the Brazs has been con-
tractcd for, but it rs understood in order TIA,
II may be attended w;sh tbs most sus,iciou3 CIR
cunstauces that twas not TO be bYo,s2 Ut out ,it.tn
the ratification shall have arrived from Rio janet
ro, and likewise until the Whole of TIC affairs OF
Portugal aid the Drazs, shall have been sutis-
tictoriiy arranged i liz amount Of the loaa is
three millions sterling, and Is TO bear an interest
OF SIX per cent it is understood that the parties
vino have taken the loan have agreed to adj
vance one-sixth part of the amount IN supply lie
immediate necessities OF Tie Emperor. Tic
rejection OF the Fre2ci, FINANCE, mc9Gu-c has
had considerable ielacucc over tie various
descriptions of European Stock to-day, which
have undergone mach moro serious depression
than seems to have been justified ~ existius,
circumstances. Austrian Ssocls, ,s!iici, yesicT.
day was sold at So, Yas early tbs morning dc
pressed to So; and in Russian ard rrGs;ap
bonds their was corresponding IL ,Acciacio;f.
bal III the course Of the afternoon The :.loous
had SC much subsidized, that the prices of each re.
covered about per Cent. Ia South America
Bo1i5 there has bcc., much, les. doing, but they
have IN some degree Partaken Of the alarm.
Colombian Script, which left off YESTERDAY, at
per cent. discount, has to-day been sold at 81
per cent. discount; but was a'good deal hiaiier
before the termination of business, as Likewise
the Mexican Script, which had fallcr. TO 81 per
cent. discount.