nIONEV MARKET.

The Consel Market has been very heavy since our last ; anti although it ha evinced occasionally symptoms of fitmness, its general disposition has been downwards. The business transacted, however, has not been extensive ; anal the depression at present exiiting is, we believe, referable rather to political than pecuniary causes. The determination with which the present Ministry cling to office, and the absolute necessity for their removal before the business of the nation can be fully or efficiently carried on, give ri-c to the fear that the House of Communs will be compelled, in the performance of 3 great public duty, to take such measures as may have the effect of cau.iing something like g panic; and hence our capitalists are not at all anxiona to employ their capital in any investment which has the character of permanence ; a ectrain &live of distrust is thus engendered, and the effects it produces i:re seen in the languid state of the public securities.

Since our last Bank Stock has declined more than 5 per cerit. ; the present

price being .21.7 ta'21'!1. This fall is in a great degree to be attributed to the disclosures m ale at the last meeting of the Bank Prop-It-tors; but it is also pal tially referable to measures said to be in contemplation by the Bank, to force the withdrawal of the amount of circulation of the Joint Stock 1:anks, by a large curtailment of their own issues ; which must operate unfavourably upan cotometrial credit. We are not aware of the precise measure proposed, but Lamy that for the last few days rumours of something like a coup d'etut on the pin of the Corporation have been rife. The spanish and Portuguese Securities have, as usual, been the principal objects it interest in the Foreign Market ; and both of them are to-day haver than last week. As we predicted, the misconception with respect to the Passive Stock, has operated unfavourable upon the price of the Cortes Bonds; and they are to-day at 6411 The latest intelligence from the Peninsular, although not actually discouraging, plainly demonstrates that the Carlists are in greater force than we have been led to suppose, and that the subjugation of the Northern provinces will be a work of more difficulty than was at first believed. The foreign de- mand for Spanish Bonds has also slackened during the week ; and if any financial crisis should occur here, there is little doubt that these Securities must experience a considerable reverse. The Portuguese Bonds have fluctuated between 94 and 95; and in the absence of intelligence from Portugal, have been mainly influenced by the state of the English Money Market.

The same may be said of the European Continental Stocks, which are gene- rally heavy at prices varying from to 3 per cent, below the last quotations. Brazilian Bonds, which improved in consequence of intelligence having been received of the suppression of the late insurrection, and the remittance of l5,000/. towards the payment of the Dividends, have receded about 1 per cent. from the same cause.

The various South American Stocks, which, as being almost entirely on speculation, are the first to give way upon the least possibie chance of pecuniary difficulties, have also declined, and are considerably lower than they were last week.

From the same cause, we cannot notice any improvement in the Mining Shares, which are very heavy at prices something below our last. The Shares of several new Joint Stock Companies have been issued during the week ; but they are mostly of such an ephemeral description as to preclude notice in these remarks.

SATURDAY, TWELVE O'CLOCK.

The English Money Market is firmer this morning, in consequence of the apparent victory gained by the Ministers last night upon the Army Estimates. The effect has been much greater upon the Foreign Securities. Spanish and Portuguese Bonds are both more than i per cent. higher than last night. The other European Stocks have also improved ; but there is nothing in the transac- tions of the morning to call for particular remark.

3 per Cent. Consols

911 I Dutch 21 per Cents

561 I

Ditto for Account 911 92 French 3 per Cents —

Now 31 per Cent. Annuities

991 } Greek, 1833,5 per Cents. • — Bank Stock for Account .... -- Mexican 6 per Cents. 43/ India Stock for Account .... -- Portuguese 5 per Cents —

Exchequer Bills 37 39 Do. Regency Serip,5 per Cent 941 1 Belgian 5 per Cents

1021 4 Russian. 1822.5 per Cent...

1084 109 Brazil ian 5 per Cents 87/ Spanish, 1821.5 per Cent...

561 t Danish 3 per Cents .. 784

Ditto New Scrip 71 i