MONEY MARKET.

It was generally anticipated that the Speech from the Throne world have produced a favourable effect upon the price of the Public Funds, and several speculative purchases were made in anticipation of such a result. The price of Consols consequently improved on Monday; and the quotation was at one period of the day as high as 90 for Money and 903 for Account. The hopes of the speculators for the rise were, however, disappointed; and the effect pro- duced upon the Funds on Tuesday afternoon, when the tenour of the Speech became known, was the exact contrary of that expected, as a fall instead a rise occurred. Consols for Account declined before the close of business to 898 and on the following (lay the decline continued, the price for Account being as low as 893, and that for Money as low as 89i. A reaction has since occurred, of nearly 8 per cent.; and to-day the price has been as high as 893 for Account and 893 for Money : but in the course of the afternoon, some sales of Stock were made by parties known to be connected with the pigeon-expresses ; and a report was cun-eut that upon the receipt of the Queen's Speech in Paris, a decline of 1 per cent. had occurred in the French Funds. Our market has consequently been heavy, Consols for Account closing at 893 3. With the meeting of Parliament reports of loans and fundings have arisen ; and to-day, a leading broker having sold New Three-and-a-half per Cents., and laid out the produce in Exchequer Bills, a rumour was immediately set on foot that a considerable funding was about to take place. The reported decline of the French Funds is in all probability as much owing to financial as political circumstances. Our advices front Paris bring intelligence of a decline in the rates of exchange, occasioned by renewed negotiations for a loan, the amount of which is variously stated at from 8,000,000/. to 15,000,600/. sterling. The operations in the Bank Stock market have borne out the view we took in our last report of the causes that had produced the recent rise in that se- curity ; which has since been declining, and is to-day quoted at 166, thus marking a depression of 5 per cent. from the highest quotation—a decline that could not have occurred if there had been any foundation for the reported ar- rangement between the Government and the Bank Directors for the renewal of the expiring charter. India Stock is quoted at 248, being 2 per cent. lower than our last. The Bank Broker sold Exchequer Bills in the early part of the week ; and these Securities, which were depressed to 4s. premium, have since been heavy, and, although a large purchase has occurred to-day, evince no signs of improvement. Money is much easier, and the rate of commercial dis- counts may he stated at from 4 to 5 per cent. The exchanges are heavy, and most of the current rates experienced a trifling decline this afternoon. There has not been much alteration in the Dividend-paying European Stocks; with the exception of the Dutch Two-and-a-half per Cents., which have expe- rienced a decline of about i per cent. The South American Stocks are firm; Buenos Ayres having been repeatedly quoted at 22, and a bargain having occurred to-day in Chilian at 60. Brazilian are also at our last prices. Co- lumbian arc heavy ; and Mexican do not appear to be in much demand. The transactions in Portuguese have been but few, and the prices have not fluc- tuated materially. Spanish Active has experienced a fluctuation of about per cent., having oscillated between 24,3 and 25k. The intelligence last received from Madrid states that measures are in progress for capitalizing the over-due interest of the Debt ; and that a decree upon the subject may shortly be expected. An improvement has consequently occurred in the price of the Stock, which was this morning at 258 ; but as a report is prevalent that the same express that brought intelligence of the fall of the French Funds, also noted a decline of per cent. in the price of Spanish, the market gave way in the course of the afternoon to 243„ but improved again, and closes at 243 3. An improvement of from 2!. to 3/. per Share has occurred in the Shares of the Birmingham Railway; the Directors having determined to pay off their Debentures by the issue of quarter-shares to the proprietors, at a price consi- derably below the market-value; and as the holder of every Share will be entitled to one new quarter-share, an increased value has thus been given to the existing Shares. The Brighton have rdso improved about I/. ; it having heen declared to the proprietors, at a recent half-yearly meeting, that the line is in so forward a state as to induce the Directors to believe that they will be enabled to open it throughout in October next.

SATURDAY, TWELVE O'CLDCR.

The report of a decline in the French Funds, to which we alluded yesterday, turns out to have been exaggerated as to its extent, the fall having been only 20 the extent of 3, and not to that of 1 per cent., as reported. The prices of the English Funds have not, however, improved, the price of Consols for Money having been as low as 898, while for the Account the market has fallen to 898,, in consequence of a sale of 60,000. Exchequer Bills are without variation, and there arc no quotations of Bank or India Stock. In the Foreign Market, the current varieties are generally heavy, at yesterday's quotations, with but little business doing.

SATURDAY, FI:UR O'CLOCK.

In the course of the afternoon, there were sellers of Consols at 898 for Account ; but the price speedily improved, and there have since been buyers at 893. The market has, however, again given way, and the closing quotation is 893 .3. There have been but few transactions, and none of importance. The only change in the prices of the Foreign Funds has been in Spanish Active Stock ; to which a large purchase gave a momentary firmness, and esta- blished a quotation of 253. This impulse has not been sustained, and the- closing price is 243 5, being 8 higher than in the morning.

-' eer cent. Consols Ditto for Account 891 S9I 1 Belgian 5 per Cents.

Columbian 6 per Cents 98 9 2t 34

:: per Cent. Reduced 991 4 Danish 3 per Cents 7:4 9 31 per Cent. Ditto 981 11

Dutch 24 per Cents

50 4

New :..if per Cents

971 4

Mexican 5 per Cents. COMA,

27} K- B:Mk Stuck

106 7 Ptatugueseltegency 5 per Cts.

32 4

Exchequer Bills 4 6 pm. Ditto 3 per Cents 20 4 India Stock for Account' 247 50

Russian 5 per Cents

114 + Brazilian 5 per Cents 73 4 Spanish (Active)

241 il