THE MONEY MARKET.
&rota ETCHANGE, FRIDAY Evezeixo.—The fears which we hinted in cihr last report have unhappily been more than realized ; and the state of things here is greatly worse than we could possibly have anticipated in the absence of any political or public event. On Saturday last, Consols were not only firm at above 84, but they showed some tendency to advance, and even reached 843. On Monday and Tuesday the Market showed some wavering, and prices gave way repeatedly, but always recovered to near 84. On Wednesday, how- ever, when the Speech from the Throne, and the commentaries upon it In both Houses, had been perused, prices began to fall seriously ; and from the opening of 833, very soon reached 823. From this point a brief rally took place, and the price rose to 823 ; only, as it proved, to return before the close of the day to 82*. Yesterday morning, for a moment, there were hopes of some reaction; but the renewal of sales soon showed how vain were such expectations ; for the price rapidly fell to 81, and, after some fluctuations, to 801. From thence it was ral- lied to S13, but closed at 813 only. This morning's Market was still heavy ; and prices fell to 803, advanced to 81, fell to 801, and after being nearly 81*, closed at 80t to 3. Money Stock is precisely the same price with that for the 25th instant. The Heavy Stocks have given way in even a greater degree than Consols. Ex- chequer Bills have been at 15s. prem. only, and India Bonds at a discount.
This is not a very encouraging state of things ; and involving, as it does, severe loss to very many individuals, is deplorable enough. As a foretaste of the consequence of any actual warlike demonstration, it affords a very salutary warning to our rulers, for it may he taken as a certain truth, that this fall in the value of all funded pro- perty, with all its consequences arrived and to come, is not one third part of what we shall most surely witness in the event of any actual hostilities. What has al- ready occurred is the effect of the apprehensions of those who, believing our Government sincerely desirous of peace, are yet alarmed lest they should by pos- sibility involve the cnuntry in a war. What a war would actually produce to the holder of every species of funded property, we shall gladly avoid the consideration of. Money is not yet become scarce in the Stock Exchange; but if the present alarm should continue, it seems impossible that it should not become so.
It is almost superfluous to add, that in the Foreign Market every thing has fallen with Consols. Russian to 921 ; Danish to 553; Brazilian to 55 ' - Mexican to 31 or 32; Colombian to 15 or 16; and Peruvian to 12 or 13 : but, worstof all, is the fate of the poor holders of Spanish Cortes Bonds, whose hopes, so long deferred, have at last been' most rudely shaken. On Tuesday last, the Market was remarkably good and promising at 221; but next day came the news of the defeat of Valdez and Mina, which forced the price to 201: yesterday came the news of a fall in the Paris Market, upon which the price fell to 19. At this point it would probably have rested for a time ; but nothing prospers in this place when Consols fall, and the panic in that Market has spoiled the Spanish Market for a time. The price, at one time to-day, was so low as 15* ; it is now about 16. If the alarm in the English Market should subside, the low price of these Bonds will no doubt again tempt the speculator.
In the Share Market, every thing is lower in value ; but we have not any thing further to mention respecting it worthy of notice.
P.S.—It is right to add, that the appearance or character of the Consol Market to- day was much better than that of yesterday. To-day, there was an evident endea- vour to make it look worse than it really was. Yesterday, it required no such en- deavours. To-day it was never more than one-half per cent. below, and it closed at or near the opening price; yesterday, it was at one time one and a half per cent. and closed at one per cent. below the opening price. Let us hope that we are at or
near Baillie Macwheedle's mending-point. .
SATURDAY, HALF-PAST TWELVE.—00IISGIS opened at 801 to 3, and very soon advanced to 813 to 1, but this advance has not been maintained. The price has since fluctuated between 80i and SI, but was at one time 803 only. It is now 801 3. In the Foreign Market every thing began to mend when Consols were rising, but have since returned to last night's level.
Spanish....... 151 16
Ditto, New
SHARES.
Bolanos Brazilian . 60 62 Columbian . 7* 8/
Anglo Mexican - United Mexican 113 12
Bank Stock .... 203
3 per Cent. Red. 80* 793 3 per Cent. Cons. 803 3 g 31 per Cent. New 90* WI Consols for Aug. SO 1 803 Lung Annuities 173 163 17 Ex. Bills, 10001. 20 24 India Bonds .... 10 12
Brazilian .... 56 561 Buenos Ayres... 18 20 Colombian 15 16 Danish...... 55 56 Greek 2/ 23 Mexican 311 321 Peruvian 12 13 Portuguese 48 50 Russian 92 93
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