14 MARCH 1840, Page 10



The motion of the Chancellor of the Exchequer for a Committee upon the subject of banking has given rii.e to all sorts of reports as to the future inten- tions of Government ; among which may be cited the establishment of a silver currency, and a limitation of the issue of Bank-notes for the future to the Bank a England only. On Tuesday, the prevailing opinion was, that the present inquiry would result in the establishment of the currency upon a more secure footmg, and in the belief that the days of panics and the contraction of B:wk issues had passed, every description of English t Stock improved in price. The advance was most remarkable in the New Three-and-a-Mill per Cents., which rose from 984 to 99i ; while the improvement ii, the Three per Cent. Stocks was not much more than per Cent. The intelligence received by the Indian mail on Wednesday gave a cheek to the market ; and as the news from the East became generally known, the prices of the Funds fell back to the full extent of the late advance, so that to-day they may be quoted nearly at the prices of Monday ; for although the market has once or twice shown symptoms of rally- ing, it has always given way again. Money has been more in demand within the last few days ; though the priee of Exchequer Bills has been well sup- ported at 20s. and 22s. prem. Bank Stock has been to-day quoted at 178 for Account, which is about 1 per cent. below our last price. India Stock was marked at 271 Mr Account on Wednesday ; and though not a single bargain has since been effected, it has been freely offered at 250, and is now nominally 245 to 250.

As a consequence of the late arrival, we may mention that there has been a considerable decline in the price of Tea. Company's Congou, which was yester- day at 3s. lid. is to-day at 2s. 7d. per pound., and not saleable to any extent at that price. The loss of the ship Sunda in the Chinese Sea, of which Welt. gence has just been received, will be severely felt by the underwriters. her cargo was insured for nearly 200,0001., of which 70,000/. was taken at Lloyd's and the remainder by the offices—one office, we understand, has suffered to th' e

extent of 34,000/.

We have intelligence from New York to the 16th ulthno, which confirms the fact that the State of Pennsylvania had succeeded in raising 000,000 dol. lore, and would thus be enabled to pay the dividends upon its Bonds, which will become due in London on the 1st April. The Shares of the United States Bank had improved to 17/.; but have since declined, and are to-day about 10r

A . per are lower. There is little doing in American Stocks; which are nearly

unsaleable, with the exception of Rothschild's Pennsylvanian Debentures, and these are in demand to-day at 7 prem. or 99 per cent. In the Foreign Market, Dutch Two-and-a-half per Cents, have declined, and are per cent, below our last prices.

The other European Stocks are not so firm as previously, owing to the de- cline of the English Funds.

Brazilian are nearly the same ; and Columbian Bonds are heavy. By the last :Mexican mail, we have intelligence from Vera Cruz to the 6th January; when the Governments were receiving the over-due Coupons of the newly., converted Mexican Stock in payment of customhouse duties : the Stock OR. sequently improved here nearly 1 per cent., and has been done at 30; but as the expectation of receiving a remittance of dollars for the dividends by this packet has been disappointed, the Bonds have gone back again the whole of the previous advance. The price of Spanish Stock is still kept up by the speculation referred to in our last report ; though the price has declined in Paris. The transactions hare not, however, been very extensive, and the fluctuation has been from 28ito 29i. The market is flatter to-day, the near approach of the settling forcing some of the less powerful speculators to sell. A long correspondence has taken place between Mr. RICHARD THORNTON, the Secretary of the Committee of Spanish Bondholders, and Messrs. RicAnno, the agents of the Government, having for its object the discovery of the amount of .Active Stock now in cir- culation. From the nature of the accounts, which are very complicated, it is difficult to come to any positive result; but we think that our last week's es- timate, carrying the amount to 40,000,0001., will be found to be near the mark,

though perhaps a little in excess. , Portuguese Bonds have been without material variation, and the transactions in them unimportant.

3 per Cent. Consols 901 / Belgian 5 per Cents. 103 4 Ditto for Account 901 i

Columbian 6 per Cents

25 1 3 per Cent. Reduced

31 per Cent. Ditto

shut shut Danish 3 per Cents ,

Dutch 21 per Cents

78 79 524 31

New 31 per Cents.

981. i

Portuguese Regency toper Cts.

33,1 41 Bank Stuck Exchequer Bills ..... ....... shut 19 21 pm. Ditto 3 per Cents Russian 5 per Cents.. .ex. d, 23/ 41 112 113 India Stock shut Spanish (Active) 28f 9 Brazilian 5 per Cents 781


There is scarcely any business doing, and no variation in the prices of the English Funds. Exchequer Bills are heavier, and are quoted at 19s, to 21s. prem. In the Foreign Market, the dealers and brokers are principally occupied with arranging their accounts, previous to the settlement on Monday ;. and though the markets are heavy, the prices are nominally the same as yesterday.