MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The Consol Market has been more unsteady than 1. t '.. Up to Thurs-

day afternoon, the fluctuation had been between 902, and . On Wednesday, when the vote of the House of Lords became known, the price for Account was depressed to 89&, but has since reached 90*, and closed yesterday at 90*. The opening price of this morning was 90it ; the market was very heavy, and soon drooped to 893, a slight reaction has since taken place, and the closing price is 894 This fall may in a great degree be attributed to the uncertainty of our do. rnestic politics, and the fear that, in their advances to office, the Tories may bring back the panic and excitement of May 1632: but it is in some measure to- be accounted for by the disposition for investment in the Foreign Funds, which induces capitalists to exchange their English Stock for some of the numerous descriptions of Foreign Bonds now in vogue. The approaching division on the- Irish Church Bill in the House of Lords, is looked to with anxiety, as decisive of the existence of the Ministry : the general opinion here seems to be that they will be defeated, and must of course resign. If any political change should take place, which would have the effect of driving the depositors in the Savings Banks to "run for gold," it is impossible to calculate what effect such a state of things would produce on the value of every species of negotiable security. The issue of money consequent on the payment of the Dividends has entirely removed the pressure of last week ; and capital is now so abundant, that com- mercial bills of long dates were to-day and yesterday discounted at the low rate of 2 per cent. Exchequer Bills are 54 56. Bank and India Stock have scarcely varied during the week. With a view to give immediate effect to the recent act SATURDAY. TWELVE O'CLOCE. The dread of a political change is still operating against the Funds. Consols for Account have been this morning as low as 89, and are now 893 4. Ex- chequer Bills have improved, and are 58 59. Bank Stock is the same—viz. 2075; but India Stock is rather lower, being quoted at 240 ex dividend. The Foreign Funds generally are lower. Dutch 25 per Cents, have been at 493, and are now 494 3. Belgian Bonds are 924 4. Brazilian Stock is 68 5. Portuguese Scrip is at yesterday's price. Spanish Bonds are also nominally lower—viz. 183 4, though no transactions have taken place in them this morning. SATURDAY, FOUR o'ctocx. Siam the morning, Consols for Account have been as low as 894, but have again rallied to 894 4, which is the closing price. By the London Merchant steam-vessel, intelligence has been received from Amsterdam of a depression of a per cent, in the Dutch 25 per Cents, in that city. Dutch 5 per Cents, had, however, slightly improved. The price of Dutch Securities has been as low here as 484, and close at 484 5. London Dock Stock is quoted at 51 and 515, and bargains have been effected at both prices within the last few days. The after- noon has been passed more actively than is usually the case on Saturday. We Subjoin the closing prices; some of which, however, are merely nominal.

3 per Cent. Consols .. 874 8 Belgian 5 per Cents. 929 Mexican 6 per Cents.. .37

Ditto for Account...894 4 Brazilian Sp. Cts. 67181 Portuguese 5 p. Cts. 59{604 New 34 p. Cent. Ann. 959 Danish 3 per Cents..734 4 Do. ltegenc:, t:c.5p.Ct. 24 2 Bank Stock .. 240 Dutch 24 per Cents. 434 4 Prussian(1815)5p.Ct. —

India Stock 2074 French 3 per Cents. — Russ. 1822) 5p.Ct. 1044 Exchequer. ; 53 59 Greek (lbaffis) 'Lets. — Spouts t(1.321) p.Ct. 18i I

FIVE o'cLoctr.

Since four o'clock (the usual close of business), strenuous and successful efforts have been made to depress the matket, and Consols for Account are now as low as 893 5. Some business has also been done in Belgian Bonds, at Di and 91,4. of nt, the Commissioners for the Reduction of the National Debt have

issued the following notice.

" NATIONAT. DEM' OFFICE, 8th July 1833.

"The Commissioners for the Reduction of the National. Debt heathy give notice, That by an Act of the 3d and 4th William IV. cap. 24, they are empowered to apply the fuud, commonly called " The Sink; aq Fund," or any part thereof, at such times as they shall think fit, to the purchase of the reversion of perpetual redeemable annuities, in exchange for annuities for a certain limited term of years. "The Cemmissioners therefore, are ready to apply the sum of 300,0001. in this priscrit quart,m, to the imposes of the said Act, upon the tollowing terms, viz.— " Kr every One Hundred Founds of Consolidated Si. per Cent. A imuit ies transferred to the Commissioners, the parties to be entitled tu an Annuity of Three Pounds fur One Hundred Years certain, payable at the Bank of England half-yearly, an the 5th of April, and tolls of October. in each year. "The firs/ Italf-vearly p.tyment of the said Annuities to be made on the 5th of April 193k and the fast half yearly payment to be made rn the 10th October 1933. "The parties to be further entitled to receive, upon every 100/. of Consolidated Si. per Cent. Annuities so transferred, the sum of Three Pounds in present Money, payable five days after the completion of the contract.

" One Quarter's Dividend to be paid up to the lOth of October 1333, upon the Conso- lidated Si. :.• Cent. Annuities transferred to the Commissioners.

" he 2 el - lamile Annuities created, to be transferrable at the Bank of England. Books will be opened at the National Debt Office, from the 9th instant inclusive, until the Sth of August next inclusive, (unless the sum of 10,000,000/. Consolidated 3/. per Cent. Annuities should be sooner subscribed, in which ease, the books would be closest), to receive subscriptions from those persons who may be disposed to accept the

terms above-mentioned. ' S. IIIGHAM, Comptroller-General?'

By the above plan, Government o'ffer to the Stockholder a premium of 3 per cent. to convert his interminable annuity into one which will expire in one hun- dred years. If interest of money during the whole period be supposed to con- tinue at ;34. per cent., the 31., if allowed to accumulate, will increase to about the amount of the original capital ; and the gain or loss to the representatives of the present Stockholder will be in exact proportion to the rate of interest at

which the bonus is supposed accumulate. Thus, if the rate of interest be assumed to be at

3 per cent. al per cent. 4 per cent. 5 per cent.

The sum of 31. invested will produce in 100 years...,-E57 6 6 ... 93 6 0 ... 151 10 0 ... 394 10 0 So that, it' the rate of interest should continue low, the operation will be at- tended with loss ; and if on the contrary it should be high, great gain will ac- crue. Among the Stockholders generally, the merits of the plan are too little understood to make it at all popular; nor is the bonus sufficient to induce a con- version at the present moment ; but if any great improvement should take place in the price of :3 per Cent. Consols, we have little doubt that the terms would lie extensively adopted. This object would be much facilitated if the Government were to contract the West Indian Loan in Annuities for one hundred years; as the mar/set value of such Stock, as compared with 3 per Cent. Consols, would then be known easily, and the scheme of the proposed conversion could then re- ceive such amendments as experience might dictate. tTp to a late period yesterday afternoon, the demand for Foreign Stock con- tinued unabated ; and very large investments were made in Dutch and Belgian Bonds, which had all reached their highest quotations. In the course of the morning, Dutch 5 per Cents, were at 93, and 25 Cents. at 494 cx div. Belgian Bonds were also at 934; but the prices of all these were nearly a per cent, lower at the close of business. The decline has continued to-day, with, however, a slight reaction in the afternoon. Dutch 5 per Cents, have been at 92$; the 26, per Cents. at 48$; and Belgian Bonds as low as 92*. The closing prices of Dutch 5 per Cents. are 924 93; 24 per Cents. 484 49; and Belgian Bonds 926 93. This depression may partly be accounted for by the heaviness of the Coned market, but is mainly attributable to the belief that the arrival in London of the Dutch Minister for Foreign Affairs is a prelude to the renewal of the interminable protocolling. Danish and Russian Bonds are at our last quo- tations. Brazilian Bonds have been as high as 69i, but close this afternoon at 6833. • Mexican and Colombian rather lower than last week; but scarcely any bargains have been effected in these Stocks.. Spanish Stock, after having been , at 193, is quoted to-day at 186 3. Portuguese Bonds and Regency Scrip have have improved, in consequence of the intelligence of Don PEDRO'S success ; the former is 60 61; and the latter has been at 14 din., and closes this afternoon at 13 13 din.