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THE MONEY MARKET.
STOCK EXCHANGE, FRIDAY EvENING. Consols closed on Saturday at fi3i, and Exchequer Bills at 78. to fas. prem., .being a fall of II per cent. in the former, and of 9s. iu the latter. The feeling 'in the City, that no danger could accrue to Reform, even from the Duke of WEwsuros's coming into office, and the impression, which was general on Monday and universal on Tuesday, that the Duke would not be able to form a Cabinet, checked the progress of the decline. On Wednesday, when the truth was fully known, the tide turned. To-day, the price is 84 A ; and bargains have been effected so high as 85. This is the political view of the fall
acrd rise ; but there is another, which is, perhaps, equally true. The Stocks, like other markets, are chiefly affected by causes which produce an augmentation or diminution in the supply of that artirle which is
bought and sold there. If money be 'very plentiful, Stocks wil! onaley be very scarce, Stocks will fall ; although, according to political calculators (who are almost invariably at fault in 'Change Alley, from their not attending to these facts), the process ought to have been reversed. Political causes influ- ence prices-IT influencing the supply of money. Distrust in Government makes men close their pockets : it raises the value of money on precisely the same rain- ciplea that teat of a riot, ity preventing the farmer from sending his produce to market, raises the value of corn. Hence the fall of Stocks in such a case. Trust in (;overnment leads men to carry their money to market, rather than keep it useless at home. Hence, in such a case, the rise of Stocks. But nettle's the distrust nor the trust augments the entire capital of the Stock- buyers, cn which the price permanently depends. Unless in sonic very extra- onfinary crisis, the political element can effect very little. The inference, there- thre, train the smallness of the fluctuation during this week and the last, would be, that the danger to property was not considered great, whether the Duke came into power or not. In other words, the chatter about the Revolutionary nature of the Bill, so much indulged in by those who take credit for long heads on the strength of their long purses, was practically disbelieved by those very long-pursed gentry themselves. If they had acted on their belief, the Stocks would have risen on the prospects of the Bill being thrown out; or if the fear of riot prevented that natural process, at least they would not have risen'on the certainty of its being carried.
CLOS NO PRICES OF STOCKS ON FRIDAY.
Bank Stock 201 2 Brazilian 134 144
3 per Cent. Red. 14.31 1 Chilian Spanish 16 17 Ditto New 14 131
3per Cent. Consols 544 f Columbian Consols for Acct. 84 * Danish 114. 124 SHARES.
67 34 per Cent. New 924 Greek 32 33. Bolanos 150 160 Long Annuities 164 7-16 Mesicin 311 321 Brazilian
45 46
Peruvian — Columbian 4 India Bonds dis Is. Portuguese
491 54 Anglo Mexic.ro .. 7 S India Stock 2041 Russian 97.* 1 United Mexican . 4 5 SAru*DAT, N oox.—Consols for the .itecciunt SO.
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