The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-03-19
f35,0iS 267
I330iS2b7 E33 Cfg,26
NJ MARSHALL, Chief CT shier.
Dated the A,h day Of FEBRUARY, lsis.
nIhrIxesa.

LONDON MONEY MARKET Feb. ?5-In ths cours. Of
yesterday all doubt to this financial course to be
I'D ,ped By the govern ment dssipated BY the ap
p-.rapcs of notice for the renewal Of the ExcheQuer
Bills arriviSg majority in March pext which to
be exchanged for bills BEARING interest Of AID
per cent per diem, instsao Of at present The
trrest receivable the bills will qusnty be,
ca los 0Sj per cent per anuum instead of fl lis 81
now paid For time before the notice appeared
the Intentions ofgovcrnment were known and in the
of afternoon rise in the price of the
Funds commenced and continued till this mornipge
when advance to the extent of Z per cent in the
prices of yesterday YVES observable Consos for money
having reached 90 while the price for Account did
go beyond 90 Asght reaction since occurred the
closing quot. being s95s * both for money and Ac
count Money is very abundant the rate OF commercial
discount b. ing about per cent while in the Stock Elk
change loans easily obtained upon the security Of
English Stock at the rate Of per cent. per annum -
Nothing but this abundance could have produced the
present improvement in prices, for days the
Of stock by the public have bssn considerable Tho
tho Acoouut-dsy, (tne oath instantly be absorbed By
the wants of the spectators fer fall who will then
bs compelled to cose their accounts and by the large
amounts that will be taken by the Bank of England,
bankers, and other capitalists, who have been forced
into the funds as the only means Of employing their
bsen very important aud the variations in pces
triaipg as not to allow of any rtmsrks.
ThuRsDAy EvsNISe, Feb 24.-Ths Paris news has
exercised little IL fasnca the funds to-day, snd In
that respect as yesterday, 1t would evidently appear
that the sase OF the account, Of which the settlement
opsned to-day, sudciensly decided against the
epeouato: for the fall to keep prices in the teeth Of
political occurrences of adverse tendency Little
stock is brought TO market notwi hstending hs
sppsrent OBSCURE TO holding under present cir
cunEtances The lowest quotation Of Consols day
Ssss for money, bit they improved and left of at
ss 10 z for oaey, and 50 to Il for the now
opened or TIE 18th OF April The rate of contuu ation
DO taken proof CT the iaconsdersbe quantity OF
money stock which was ofsrirg Rsdused Tires
sSM TO q ThrSs-anG-a quarter per cepts, S94 to q
Long Anouities So to 8 Exchequer bills due 10 March,
24s TO 27s premium; tbs June bis 26 to 3os. India
bonds, 15s 10 20s premium. Bank stock, l93 to 200
India stock, al to
The failure of a party in TIE Stock Exchange was
mentioned in the OF the day; but OF acorsi
derable Importance il Is not necessary 20 auds to IL
further. The variations Of prices during the account
now made up have been Of some magnitude, and the
differences 10 be must have been proportionaly
heavy. The set account closed ths 18th Of Janua
~ aud from lowest TO hishest thu difference hae only
been per cent but the Intermediate rapgs of hu,tua-
toDs embraced will be seen, variety of per eensges
to tho profit or loss Of the deaiers and the
case might be.
Feb 2e, ~ o'closk.-By the return in thu Gasene Of
last evening the movement CT the Bank Of England for
the week ending the l9 instant gives the folio
changer, compared with the week ending the lath
In tho department. OF issue the circula
ion had Increased G3O $40, which had been produced
by the increass oftnat amount OF gold coin and bullion
tia tilver bullion remaining uualtered On the debit
hide of The banking department the Rest had decreased
f6 6l7 tb public depatos had increased f6i9 23S the
private other dopotcs had decreased f63 9o7 and
the seven day aud oth,r bills hal decreased e34 992
making the total of liabilities f3b 04S 267
On the credit side the government securitc, present.
ed alteration; tina other securities had decreased
f355 IFS the notes had increased f7i 775 and the
gel aud silver coin had increased f57 us; which quar-
ed the account.
The bullion Ia both dcpartn ents OF the bank had in.
creased from Ella 2ol72I to Gi4,s6o6ls, being differ
cnce OF G36l 926.
The paper in actual circulation including the sever
day and othtr post bills had dsceased from $50
to e 10 95l ,593, being difference cf Gi6s,9S7.
The movemeot OF tho bank for the week included In
the above continued sl in the direction
fer several weeks past iu filing anticpaors TO tho
letter We certainly not prepared however, tor
the continuation al such large decreass In the other
than government securities, and sach alarge accession
to tho reserve in the banking department.: Including
notes and cola, the unemployed in the bnnking de-
partDent, amounted to no lees than El0,4Si 95i
an evidence OF the PROSTATE state OF trads without
xampie for many years past. Asws have formerly OBJ
the prcsu pon Ia that tire deoreste In the head
Of other than government securities exclusively arises
from commercial bills running of greatly beyond the
proportion Ia which they doing any fesh busness
In point of fact however IL the directors rigGly adj
hsrcd to exact the rate of four per Minimum
they cannot at present command what den onnatsd
first class bills, and, If not msinformeJ, the d.
rectcrs continue stringent ever ia taboopg the
greater proportion OF trade bills presented ter d-cluut
II will b. obwrvsd that the private dep continue
TO dnin sh which sfIds the only glimpse we have Of
returning acVtyin business and this In oil probeb
srises from tn high relative rate OF discount exaoted
for nterne paper
There is very little abatement in the excitement in the
city this mosLiDg The account Of the sbdtcation of
Louis Philippe did not reach the city until pear four
o'clock copiieraby aft the regular hour for closing
the stock EXCHANGE II followed by SCENE Of con.
fusion Ia that until at fse O'Clock before which
timn onsois had been done 80 l0w as S5I This morn.
inS The market opened Wildly With the quotation from
SIX 60 o. and ran progressively down TO 50 f,om
that pnnt they again rc-ected 10 s5 and have been
lat dcne q, san The uantitiois between the
sxsremi points psmed, bavo bsen 80 rapid and tue
sxoteu ent % great, during tho whole OF the morning,