The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-02-07
FOREIGN MARKETS

LONDON MONEY MARKET January 2o-Wilmer 4,
Smiths European Times saws:
The two great commercial and monetary features of
the past week have been the free announcement bv
the Emperor of the French and the raising of the mini
mum rate OF discount by the Directors the Bank
England at their weekly court yesterday from az per
cent at which it had been from the 14h of July last
B per cent
The declaration made on the part of the French gov
ernment that 1t is the intention to make important re-
ductions in Customs duties numerous articles with
out regard as to the colony country from whence i'm
ported; also to admit most articles used manufactur
ing purposes duty Free and propose other duties of an
important character which cannot fail to productive
of beneficial results to trade commerce in this conn
try has taken the trading classes by surprise and for th
present is difficult to to direct conclusion as m
the extent the measure will have more especially upon
price and demand in colonies the vast increase
that will take place in direct trade between this coun-
try and France in cOlonials.
Although there have been daily Withdrawals of god
from the bank for export it not generally eypected
that the bank directors would to an advance in the
rate in order to arrest it they have The com
mon opinion was certainly, that change was probable
put lew anticipated until the month of February. But
yesterday the drain Of bullion considerable and as
there is still considerable demand both for India and
the continent the change has excited no real surprise
In the money market itself there no cause for the
change for the operations during the past week have NOT
been more than moderate. 1t has originated solely in
thG movements OF the bullion market and remains
TO De seen whether 1t will produce the desired effect The
Joint stock banks have raised their for deposits TO
per cent.
ing January lS gives the following results when
red with the previous week:
n, oIooZ09 Decrease. f39S ,666
Oher uePoslS''.'.'. 4ooO,I I54 Decrease. 692795
hest'... 3,2S4,1S1 Increase ~ 7hf
On the other side of the account:
Government securities 500 Decrease f15o ooo
Other securities. 1883 ,664 Decrease 900 o66
Noes une"poyeu'.'. 'oo9,so3 Decrease.... 5S0S75
Inc OF notes IN circulation is G22 053 lao being
an increase Of f2 $40 and the stock bullion in both
deparmentss Gl5sS4 49S showing decrease of f33o 6SI
when compared with the preceding return
[Jdmes Hewitt d Co.'S Circ,dar
LlN ERPO0L, JAN 20.-Cotton The eargeness TO re-
aze which prevailed at the date our last circular con
tnued until Tuesday, when kilograms received via
Queenstown, from the United States to the 7h instant
reporting diminished receipts and crop estimates and a
yising an advance at New Orleans in the face of the
heaviest decline which had gone out from here This
unexpected turn caused spinners spectators and ex
porters to come forward freely, when demand imme
diaely became very spirited and so continued down to
the close resulting in very large business an advance
in prices offuy I'D per b, and rather more upon
Upands, which had been unduy depressed The inquiry
has run mainly the better descriptions but common
qualities especially with good staple have been dealt in
to considerable extent though rates still relatively
much below the more desirable qualities
There less complaint about the low sandy and eafy
cottons and such more saeabe particularly where
lots can be had in which those Objectionable features
(sand and leaf are not combined. We quote:
Orleans. Mobile. UpIanls.
Ordinary XII