MONEY MARKET.

STOCK EXCRANGE, FRIDAY AFTERNOON.

The market has experienced a very decided change; prices having fallen about 1 per cent since our last report. To account for this decline, the most current of many rumours is, that it is the intention of Government upon the renewal of the Bank Charter, to cause a decided change in the paper circula- tion of the country, by making the Bank of England the only bank of issue, and restricting all other banks to the business of receiving and lending out money. We believe, however, the intentions of the Government are as yet un- known; and the caution, not to say timidity, of Sir ItonenT PEEL on most other questions of present policy, discourages the notion that he has made up his mind to so bold a course as this. It is thought very probable that the Bank of England may be compelled to submit to lower terms for managing the Public Debt ; and the fall of 5h per cent which has taken place in "link Stock may be referred to this impression. Since the recent improvement in prices, the public in general have sold ex- tensively: the quantity of Stock thus thrown upon the market has caused a decline, which, considering the rapidity of the former advance, can scarcely be considered as more than the usual reaction. Consols for Money have been to- day as low as 99k; but close at an advance of per cent, viz. 99h a. New Three-and-a-half per Cents, after being at 1021, close at 103 h ; and Reduced Three-and-a-half per Cents, which had fallen to 101h, were last quoted at 102h Bank Stock has been as low as 195h, but has since reached 196 and 197; and Indian Stock, after being 2911, is marked at 290. Exchequer Bills are without material variation ; and Money is as abundant as ever, the rate of commercial discount for first-rate bills being lh per cent. In the Foreign Market, we have to notice a depression in almost every kind of current security. Dutch Two-and-a-half per Cents have fallen more than 1 per cent ; the holders being anxious to take advantage of the present high price, and purchase the New Four per Cent Stock to be created by the reduc- tion of a portion of the Five per Cents. The Governtnent offer these New Four per Cents at 93; and as the present price of Two-and-a•half per Cents (even since the decline) is equal to a quotation of 96 for Four per Cents, the former are atilt proportionally too high. The dderee for the reduction of the Belgian Five per Cents has appeared ; but, as it was anticipated, it has not produced much effect upon the value of these securities. Mexican Stock has declined, and was at one period nearly 2 per cent below our last prices ; but has today risen about per cent from the lowest quotation. The South American Stocks have all been from 1 to 2 per cent below previous quotations; but in the course of this afternoon, the market has assumed a firmer appearance, and prices are generally at an advance upon the previous low prices. Spanish Stock has experienced considerable fluctuation ; and both the Three per Cents and Five per Cents have today been nearly 2 per cent below our last quotations ; both having declined this morning more than 1 per cent from the closing prices of yesterday. An improvement as rapid as the decline has since occurred, and the closing prices of this afternoon are nearly those of yesterday. The decline was occasioned by a reported quarrel among the Ministry at Madrid; and from the character of the purchasers at the low prices today, we should infer that late intelligence of the adjustment of the Ministerial difference had been received from that capital. Portuguese Bonds are without any change or business of importance.

The Railway Shares are generally lower; the fluctuations of these securities being always largely influenced by those of the English Funds. A sort of panic occurred in the French Shares on Tuesday, when it was reported that the King of the French was seriously ill; and most of the current varieties fell about U. per share. Prices have since improved a little, but not to the extent of the depression. S.ATURDAV, TWELVE O'CLOCK.

The English Funds are firmer this morning, with but little business doing : there have been buyers of Consols at 994, but the price is now 99a a. Nothing doing in Bank or India Stock, of which our quotations are only nominal. In the Foreign Market the improved appearance of yesterday continues ; many of the more speculative descriptions being at an advance upon the closing prices, as will be seen by our quotations. The business transacted has, how- ever, been unimportant.

The following transactions have occurred in Shares. Railways—Caledonian,

; Eastern Counties, 13; Edinburgh and Glasgow, 651 6; Harrowgate and Knaresborough, 20; London and Birmingham, 228; Blackwall, 5h ; Man- chester and Birmingham, 51i ; Northern and Eastern, 56h; South-eastern and Dovert 361 ; Ditto, New' 10 91, ; Paris and Orleans, 36g ; Ditto and Rouen, 37*. Australian Agricultural Company, 19h.

Sart:1mM Two o'cr.oca.

Almost every description of English and Foreign Stock may be quoted as clo.dng at the mornings prices, the business transacted having been unimpor- tant. We have to notice bargains in Bank Stock at 1951 and 196h.

The Shares have been extensively dealt in, and generally at improved prices; the following transactions having occurred in addition to those given in the morning: Railways—Birmingham and Derby, 61; Bristol and Exeter, 74; Harrowgate, 194; Birmingham, 227; Ditto, Quarter- Shares, 24 7; Black- well, 6; Brighton, 434; Greenwich, 4'

S - South-western, Eighth-Sh 34ares, ;

Midland Counties, Quarter. Shares, 22; Northern and Eastern, 561; -Norwich and Brandon. 7i i a; Whitehaven and Maryport, 4; York and -North Mid- land, 119i ; Ditto, New, 58i 8: Del Monte, Mining, Ungistered, 4h : Austral- asian Bank, Out Shares, 43: Union Bank of Australia,-26k. 3 per Cent Consols 991 4 ' Colombian ex Venezuela ..• 15 4

Ditto for Account 991 1 Danish 3 per Cents ..... .... 88 9

3 per Cent Reduced 9d1 9 Dutch 21 per Cents . 601 I

3/ per Cent Ditto. • 104 * Ditto 5 per Cents .... ...... 1001 1

New 31 per Cents PM } Mexican 5 per Cents Conant . 35 1 Bank Stock ex div. 1951 61 Ditto Deferred 151 4 Exchequer Bills prem. 74 76 Portuguese New 5 p. Cr.. tail 454 61 India Stock 290 2 Russian 5 per Cents 117 18

Braziliau 5 per Cents 78 80 Spanish (Active) 5 per Cents. 25} *

Belgians per Cents 104 5 Ditto 3 tier Ceuta 1842 ' St61 I Chilian 6 per Cents 102 4 Venezuela Active 391 401