The New York herald., 1851-11-20

civil OF its enfgn the opposon OF its last Argument
will be to furnish France with the possibility Of giving
itself institutions which may repose It viii be
give back in future 70 the powers Of the State that
copsecrated principle and ncontestable authority
Receive gentlemen the ss.qrsncs Of high esteem,
Eysee National, Novembsr4.
The Latest FInanciai News.
From the London Mercantile Gazette, Nov. II
The supply of money remains very abundant for
al legitimate purposes, but it cannot readily be
speculative character. Il is to bs observed, how.
ever. in explanation Of tae present plethora, that
1t arises, in great measure, from the limited de-
uand that exists for it in the commercial world.
There are, besides, few new public companies
being established, and consequently the demand
for money for joint stock projects is limited
Capitalists, at the same time, are not investing
largely in the railways other public companies,
so that there is but restricted outlet for the
ployme of the large sums of money now re-.
count houses, and of private individuals. Tho
present law of partnership ii is, at length gene.
rally perceived, directly initiates against tho ab-
sorption OF spare capital, as uader its opera
tioDs, Joint stock companies cannot bs freely
formed with sufficient advantage to those who
are otherwise willing to support prCsc of un-
questionable utility, profit, or nationality; and it
is well known that such institutions absorb large
amount annually of surplus capital and savings.
Were the law now what it ought to, and no doubt
will be IN time, the present excess Of supply over
uenanu WOulu Nnu an immediate anu prOQta0l3
channel for investment, and also absorb whatever
further supply, however large, that may be received
from California and Australia
The Bank Of England directors have no. made
aIy reduction in the rate OF interest. They are
evidently guided not by the actual rates Of money
OFT of doors, contrasted with their own but by the
state Of commercial credit, which it must be ac-
knowledged is not in the soundes state at present
as the late and further failures unfortunately
Indicate. To the list of suspensions which have
recently taken place have now to be added the
firms OF Messrs. Forman and Howdov, ofMincing
sne (alluded to under this head in our yesterdays
impression), and Messsrs. Braggiotti, Of Manches-
ter the latter in conse luence of its connection
with Castelli Co and the former from the heavy
decline in the prices of produce.
The Paris stock market has been very unsettled
all the week, and the tone has been heavy, but tels
graphic advices just received state that consida
rabls reaction took place yesterday, al extensive
business having been transacted al large advance
in quotations, as the speculatsrs are now Of OPT
nion that the new ministry will be able to stand
their ground, and finally carry ther.measures,
founded upon the tenor of the Presidents speech
The English stock market presents irmer ten.
dency this morning. and prices have advanced one
eighth per cent, with still an upward tone; bets
present price is 95 to for both money ana
account There is contango for the December
accounts thus sho wing that stock s Of equal value
to honey, or, as it is technically called that money
is not worth anything-that ia, that on the Stock
Exchange money is very plentiful, whilst stock is
somewhat scarce, and, therefore, parties in
want Of the latter can borrow it on the
ment, without any rate OF interest being
charged for the money. The presen. position Of
the market consequently approaches to what is
understood by the public, period when stock is
worth more than Cney, which state Of thing, oo-
ours when money, being extremely plentiful, with
demand for it, and stock is scarce ard wanted,
the dealers are anxious to obtain the latter upon
the deposit of the former and pay irteres. fer the
stock lent The present price Of Conso!s shows al
improvement in value, during the week Of per
cent the lowest quotation having been 97i, on Mon
day last Reduced Three per Cents are now ~! to |
!, and the New Three and Quarter per Cents, sSi
to !; Bank Stock, Fl; to 2l5; Exchaquer Bills SIS.
The foreign securities are in most cases, steady
at ye stei days quotations but Nexicaa Bonds have
recovered from the slight decline that then took
place IN their valse, whilst the Spanish Five per
Ctn.s are per cent 10 yer, and Peruvian have de-
clined per cent. Venezuela Bonds keep Srn. At |
the public meeting Of bondho!ders, held yesterday
Afternoon, the terms of the arrangement for the
settlement Of the Venezuelan debt, oy the capital
ration Of the arrears Of interest, unanimously
agreed to. Mr. Lord, the ageut to the COMMITTEES,
through whose active exertions on behalf of the
sstls-actoIy and honorable adlustu 70: ot their
claims, il TO be recompenst for his services 5y
con mission Of two and half par csns GA the
amount Of new boAds 10 be Issued.
The following is list of all taa q1otatioas Of
all the foreign securities: Mexican Five per
c. nt' 20 to l. spanish Five per cents - . di':o
Three per cents Ssl to q, ditto Passive 20
Peruvian Five PER cent: - TO q ditto Deferred
20! TO II, Venez iea Two and q 1arter per cea:g
80! TO g, ditto Deferred IL to 10, Dutch Two aat
Half per eents 5Sl to Z, ditto Four per cents So 20
Five per cents 81 to ~, ditto new Five per cents
70 to !, Portuguese Fogr per cents SO to !,
Russian Five per cents Ill 20 II ditto Four an q
Half Per cents ioii to q, Sardinia Bonis 81,
AID Half re, certs 49, to ~, ditto Deferred
g., Chilan Six Per cents lO2, dit.o TaTee per
cents 6j 10 8, belgian Four and Half lsT esnss
70, lsnish Three per cents 10 to T. ditto Five ps'
cents l0i TO 2.
The market for railway shares partakss OF the
improved tone Of the English stock market, bat i
chiefly observable In an advance IN prices rather
than Increase Of dealings, which csa.aue generally
very limited, both as regards number aad tailvt
dual amount. A return Of activity -, how.yer'
looked for before tne close of the year, and thsre
are parties to De met with who will give Osis tn1t
prices will materially sivaree within given time
The E Enropean Corn Trade.
rFrom the London Gazette Mover bert
By tie mest recent advces from the Continent, Il
appears that the excitement which had previously
P-evaled Gin consequence Of the uafa7orable reports
respecting the yield Of the ryeand potato crops II
the interior Of Germany, Sc had in a grea. u'i
sure, sussided, and at most Of the leading mar ksts
IN the baltic, as veil as ~ Hamburg, Rotseriim,
AID otner near ports, reaction had taken place IA
prices. That the yield Of rye may have proved
short In many Of the northern European count'es,
where this grain IL the principal article Of food,
~ are nciined 10 oe.teVe; oGt We are ~ tae
same time, Of opinien that ths 1sf,isaey has
been overrated, anj as all other sorts 9! cora
are allowed to have given good return. We
earnot agree with those who expss: that the
rAstial failure Of the rye crop will cause 80
grea, a shortness of food as 70 prevent ship
asats Of grain being made from the Baltic to this
country. At present, prices Of wheat are certainly
orer 10 tas british markets than on the Ceatinent;
bat We much question whether N ALTERS will remain
IA this state when Il shall have been discovered that
Grca; Britain does not require such large supplies
" foreign grown corn the growers and merchants
abroad calcvlate on The seascn Is uo- too slr ad.
vsnccd &c GLOW Of shipments Of any inpcr.aace