The City is still complaining of want of business, want
of confi- dence, and want of outlets for money. The stagnation in trade is certain, though except as regards the coal and iron trades, which are suffering from the absence of foreign demand, arising from the insecurity in Europe and the financial collapse in America, no rea- sonable explanation has yet been offered. On the Stock Exchange a more natural feeling of disquietude, springing from the rumours of war, has this week sent down all values. All Stocks, even Consols, have suffered ; Russian bonds have fallen 7 per cent, in the week, and are 20 per cent, lower than they were a few months ago. The English holders of this stock are said to be steadily selling, —which, as they know nothing whatever of Russian finance, is perhaps the wisest thing they can do. It is beginning to be per- ceived, also, that Turkish Bonds are not more valuable because a more warlike Government is in power, while there is doubt about Egyptian funds, as a revolution in Constantinople may produce a re- volution in Cairo, and Murad can hardly abstain from an effort to cancel his uncle's decree altering the legal order of the Egyptian succession.
