The New York herald., 1851-11-20

appointed z
To-day to re estsblsh universal suffrage to deprive
It viii be to furnish France With the possibility d giving
itself institutions which may ensure lis reposs will be
give back in future ts the powers the State that
force which only exist long rspOsss on
Q copsecrated principle and ncontsstable authority
Receive gentlemen the assurance of my high esteem
LOUIS NAPOLEON BONAPARTE
Eysee National, November 4.
The Latest Financial News.
From the London Mercantile Gazette, Nov: Il
Ihe supply OF money remains very abundant for
all legitimate purposes, but it cannot readily be
| obtained on any terms for such as are of too
speculative haracter. Il is to be 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,
6y reason of the generally inactive state Of trade
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 or other public companies,
that there is but restricted outlet for the en-
| ploy ment of the large sums Of money now
naming idle in the hands of the bankers, dis
count houses, and of private individuals. The
present law of partnership IT is, at length, gene
rally perceived, directly initiates against tho ab-
sorption OF spare capital, as, uader its opera,
tions, joint stock companies cannot be freely
formed with sufficient advantage to those who
| are otherwise willing to support proiscts of IN
questionable utility, profit, nationality; and it
| is well known that such institutions absorb large
amount annually of surplus capital and savings
Here the law now what it ought to, and no doubt
will be IN time, the present excess of supply over
demand would find an immediate and profitable
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 not made
ary reduction in the rate Of interest. They are
evidently guided not by the actual rates of money
out of doors, contrated with their own, but by the
state of commercial credit, which it must be ac-
knowledged is not in the soundest state at present
as the late and further failures unfortunately
il AZ of whi nav
recently taken place have now to be added the
firms OF Messrs. Forman and Howdov, of>Mincing
la ne (alluded to under this head in our yesterdays
impressioD). and Messsrs. Braggiott of Manches-
ter; the latter in conse Iuence 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 tee
graphic advices just received state that a consids
rable reaction took place yesterday, an extensive
business having 0een transacted at large advance
In quotations, as the speculaters are now Of OPT
nion that the new ministry will be able to stand
their ground, and finally carry their'measures,
founded upon the tenor Of the Presidents speech.
The English stock market presents frmsr ten
dency this morning, and prices have advanced one
eighth per cent, with still an upward tone; bets
have been made tba. consols will reach par. The
present price is 9S to oneegh.h for both money ana
account. There is no contango for the December
accouats thus sho wing that stock is OF equal value
to money, or, as it is technically called, that money
is not worth anything-that is, that the Stock
somewhat scarce, and, therefore, parties in
want of the latter can borrow i. on the
deposit Of bank notes until the December settle
ment, without any rate Of interest being
charged for the money. The presen. position Of
the market consequently approaches to what is
called "backwardation,' or, what will be better
understood By the public, a period when stock is
worth more than money, which state Of things 90.
ours when money, being extremely plentiful, with
no demand for it, and stock is scarce ard wanted,
the dealers anxious to obtain the latter upon
khad fAff fox fvfa For . NA.
stock lent. The present price Of Consos shows al
improvement in value during the week, of per
cent, the lowest quotation having been ga, Moa.
day last Reduced Three per Cents are now az to
81 and the New Three and a Quarter per Cents, sSi
TO Bank Stock, PA TO 2l5; Excheqaer Bills, SIS.
to 54s. prem.
The foreign securities are, in most cases, steady
at yestei days quotations, but Mexican Bonds have
recovered from the slight decline that then took
place in their valse whilst the Spanish Five per
Ctn.s are per cent lover, and Peruvian have de.
clined per cent Venezuela Bonds Keep frm. At
the public meeting Of bondhoderg, held yesterday
afternoon, the terms Of the arrangement for the
settlement OF the Venezuelan debt, Oy the capitaiI
ration Of the arrears Of interest, were unanimously
agreed to. Mr.. Lord, the ageut 10 the COMMITTEES,
through whose active exertions on behalf Of the
bordholders they indsbted for the present very
claims is to be recOmpenst fer his services by
con mission Of two and half ps, cent ca tia
amount OF new bosds 20 be issued.
The following is a list Of all "a. qiotat.oa' OF
-
cents % to /, Spasish Five per cents - . h. dit-o
Three per cents Ssl to %, ditto Passive s. 90 J,
Peruvian Five yer cent; 81 to y. ditto Deferred
.o to u, venez iela Two and q aar.e- per cea:l
81! TO g, ditto Deferred IL to 10, Dutch Two aad
Half per cents 5Sl to Z ditto Four per cents 50 20
20, Buenos Ayres Six per cents 40 te 2, Brazilian
Five per cents 81 to 80; ditto new Five per cents
| 10 TO I, Portuguese Four per cents SO ts !,
Euss.an Five per cents u % IL ditto Four an4a
half per cents l0li to II. Sardinian Bonis 81,
ditto Scrip to 2 dis Ecuador 81, Granail pae
81, Chiian Six Per cents l02, ditto ThEee per
| cents 65 10 ., Belgian -Four and Half Per esnss
70, uanih Three per cents 10 to 7, ditto Five pss
| cents l0l 10 2.
The market for railway shares partakes OF the
improved tone OF the English stock market, bat i
is chiefly observable in an advance In prices rather
than increase Of dealings, which continue generally
very limited, both as regards number and IL iivi.
| dual amount. A return Of activity 1, howsysT,
looked for before tne close OF the year, and tis-e
are parties to DC met with who will give ODDS that
prices will materially sdvarce within given time
The European Corn Trade.
! tFtom the London Gazette NoveIber7
BY the most recent advices from the Continent, u
appears that the excitement which had previously
prevailed Tin consequences Of the uafa7orable repo.s
respecting tie yield Of the rye aud potato crops il
i the interior Of Germany, Sc had, Ia grea: mea
sure, subsidized and at most Of the leading markets
| IN the baltic, as veil as ~ Hamburg, ROTTERDAM,
AID otner near ports, reiction had taken place IA
| Prices That the yield Of rye may have prsvei
short in many Of the northern European countries,
where this grain !, the principal article Of food,
| ", are inclined to believe; but We are, NJ tde
| same time, Of opinion that ths dsf,isasy has
been overrated, and as ali other sorts o. cora
are allowed to have given a good return. vs
| cannot agree with those who expsc. that the
| raItial failure Of the rye crop will cause 50
| great a shortness Of food as 20 prevent ship
neats Of grain being made from the Baltic to this
country. AT tpiesent, prices Of wheat are certainly
lower in tas British markets than on the Continent
but we much question whether m ALTERS will remain
in this state when Il shall have been discovered tha
Great Britain does not require such large supplies
| Of foreign grown the growers and merchants
abroad calculate on. The season Is COW too Tar ad
vsnccd &c elow Of shipments OF any importance
| We have DO doubt that sellers will, duiiag the
| winter. become more tfaotap,e tlan they haEe