31 MARCH 1860, Page 10

MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

Yesterday the Bank Directors raised the rate of discount from 4 to per cent, a measure which had been anticipated for a day or two, owing to the great increase in the demand for accommodation arisen within the last fortnight. Political apprehensions may probably have had some weight in inducing the Directors to resort to the measure ; the result upon the Stock Exchange, however, was only slight, Consols changing to 94 5-16ths sellers, in place of being buyers at that price. The English Market opened quiet on Monday morning, at Saturday's closing quotations, and remained stationary the whole clay, business being very slack. On Tuesday, there was considerable excitement apparent owing to the debates of the previous evening, and particularly the speech of Lord John Russell. Consols were first quoted at a decline of per cent, 94i 94k; from this price they have since alternated between 94194 and 94/ 941, the closing quotation of this afternoon ; the hitherto remarkable buoyancy of the French Rentes having but slight influence in preventing the heaviness in our own markets. Rentes have been telegraphed today 701. 40c., 70f. 70e., 69f. 95c., 69f. 75c., and 691. —the last showing about 11 per cent fall from the highest point readied. Bank Stock shut. India, 219 221. Reduced and New Three-per-Cents shut. Consols for Money, 94 94/. There have been several influential sales during the day, both for Money and Account ; and altogether the market wears a very heavy aspect. Indian debentures (1858 and 1839) 961 97/. The market for Foreign Securities has been very heavy all the week, quo- tations being at about 1 and 2 per cent flatter all round. The chief business has been in Mexican and Turkish Stocks, but all descriptions have expe- rienced a decline, in sympathy with Consols, and a growing demand for Money. Peruvian Four-and-a-half per Cent Bowls dull at 92 93 ; Ditto Three per Cent, 72 73; Ditto Bribarren, 83 84; Ditto Dollar Bonds, 81 82; Buenos Ayres, 84 86; Ditto Three per Cent, 24 25; Venezuela, 26 27 ; Grenada 1.), ferred, 41 5; Turkish Six per Cents, 78 79 ; Ditto New, 6061. There has been only a trifling business doing in Sardinia and Victor Em- manuel; the former is at 83 84 and the latter 92 93; Russian, 64 65; Chi- lien Six per Cent, 101 106; Ditto Four-and-a-Half perrent 86 88 ; Portu- guese, 43 44 ; Spanish, 45 49; Brazilian, 9091. At the close stocks are all extremely dull. Railway Shares have had a good deal of fluctuation from the commence- ment of business on Monday morning; prices are all lower, the depression of the English Market extending itself throughout the "House." Quotations were tolerably firm on Monday, especially, those of Great Northern and Great Northern A., but a general decline has since taken place, and there is a decided tendency to lower figures all round. The severe fall in French Routes, telegraphed today, has caused the markets to become still heavier, although the effect upon Consols is only to the extent of 146. Midland Stock is firm at an improvement, 115 115f having been done at 116. Lancashire and Yorkshire, 101 101f ; London and South Western, 92 92k; London end North Western, 98 98k; Chester and Holyhead, 51 51k; Berwick, 93 93k; North British, 60 601 ex dividend ; Caledonian, 891 90k; London and Brighton, 109 111; Manchester, Sheffield, and Lincoln, Ilf 42; Great Northern, Ill 113; Great Northern, A., 113 116; Great Western, 67i 68. French shares are especially heavy this afternoon, Lyons leaving off 36 361, and Northern of France 38 38k; Lombardo-Venetian, 11 11 premium. Little doing in Indians. All kinds of miscellaneous stocks and shares are flatter this afternoon.

BANK OF ENGLAND.

An Account, pursuant to the 7th and 8th Victoria, rap. 37, for the weekending on Wednesday the With day of March 1860.

macs DIP■ILTMENT.

Notes lamed £29,063,040 Government Debt £11,015,100 Other Securities 3,459,900 Gold Coin and Bullion 14,388,040 Silver Bullies S29.063,010 I £29,063,040

froppletownasital East

£14,543,000 3,753,413

BANKING DIPARTMENT. •

Government Securities (Mein - ding Dead WeightAnnuity). £10421,190 Public Deposits* 10,384,110 Other Securities 23,955,169 Other Deposits 13,546,194 Notes 8,082,695 Seven Days and other Bills . 684,008 Gold and Sliver Coin 683,661

£43,942,723

E42,942,725 • Including Exchegner,Saving-Banks,CommIssioners of National Debt, and Div. Acct.

HORSE RAILWAYS.

(Prom the Morning Chronicle.) London, Paris, and New York, are all suffering from congestion in their great streets. The disease has been of rapid growth. Omnibuses—the first form of popular " aceelerators "—now serve only to aggravate the ori- ginal disorganization. Various are the suggestions—beautiful in theory, but unprofitable in practice—for restoring a more natural circulation. Streets are widened at an amazing expenditure, but the improvement only serves to develop traffic hitherto hidden from general view. Tunnels have been made, and bridges built, which ought to be "warnings," yet they are not. " METROPOLITAN RarEwAxs" are projected, which, by a singular perversity, will be found to give the very smallest possible facility at the largest possible cost. One scheme, by running underground, seems deter- mined to do without local traffic ; and it must exclude one-half of the population—women! Such are the achievements of London enterprise Do they do these things better in France ? We have before us a descrip- tion of their latest improvement! It is a railway waggon for the convey- ance of passengers through Paris. It has eight wheels, it is 30 feet long, and 9 feet broad. Four horses draw it. Each carriage will " accommodate " 100 passengers inside and as many outside. There is, besides, a proposal to construct a railway round Paris. But how are a railway belting Paris, and a monster omnibus carrying 200 passengers, to remove street obstruc- tions?

New York appears to have selected the practical remedy. By the system adopted there, carriages—light, roomy, airy, and handsomely constructed— are drawn by two horses on 'rails, so arranged as in no way to impede the general traffic. This contrivance at once reduces the labours of paving com- mittees and the assessment for highway rates. Every house on the route is a "station" for passengers. Even ladies in full dress enter these vehicles, and alight from them without annoyance. All the traffic is managed as smoothly as that of a drawing-room. Among the thirty-five mil- lions conveyed last year in New York, not one case is recorded of crushed corns or of an unbrella being used to arouse a conductor's energies. The people go and come as they list; the streets remain uncrowded ; and all this aristocratic comfort is effected at," democratic prices." With this practical remedy for guidance, why should not the American horse railway be at least attempted and put to the test of proof in London, before making serious additions to the costly experiments of our metropolitan street-menders—our modern highwaymen ?