MONEY MARKET.

groca Excmalloz, FRIDAY ArrEattoos.

The English Stock market has not fluctuated so violently for the last few days;

the range of the week not having exceeded 1 per cent: 80 the lowest, and 84 the highest price of Consols; while the closing quotation this afternoon is so 84. The character of the operations is still the same; the purchases being mostly for money, and the great bulk of the sales of a speculative character. Money continues to be abundant; the rate of commercial discount being about 3 per rant, while loans upon the security of English or first-class Foreign Stocks are obtainable at as low a rate, or even lower: indeed, so great is the demand for Con- sols for delivery that the jobbers are glad to borrow Stock; thus giving the holder of it the use of the money for nothing. The commercial crisis in Paris, although affecting the merchants connected with that capital severely, has but slight effect upon our exchange; its only indi- cation being the decline of the French Railway Shares. All transactions in French Stock have ceased here since the Revolution.

The principal houses that have been compelled to suspend payment are the following. Messrs. Guilin and Co., Messrs. Bandon and Co., and Messrs. Geniis.

ron and Co.; which are the three principal joint stock banks of Paris. To these must be added the firm Lafitte, Blount, and Co.; a .private establishment, when insolvency is the consequence of the enormous fall in Railway Shares, in which he transactions were very large. This list might be swelled by the addition of many more names whose stoppage has been reported but is not officially de- clared. Indeed, from the circumstance that the time for the payment of all bias falling due after the 24th February had been extended till tomorrow the 18th is stant, it is quite clear that none but banks of deposit or issue could be placed under a necessity of suspension before that day, as no mercantile firm could be

called upon to pay its bills till the 18th. Many of the rumours upon this subject were therefore exaggerations or worse. The indiscretion of one of the morning papers in exhibiting a placard on Wednesday announcing "Important News from

Paris-15 Banks Broken," could only be equalled by that of another publishing

in a fourth edition on that day a false report that the Paris house of Rotbschilds had failed. As the letters from Paris of Tuesday evening made no mention of such a circumstance, the failure could only have taken place on the commence-

ment of business on Wednesday morning: in the absence of any electric telegraph in France, the communication between Paris and Boulogne can only be accom-

plished by railway: it was therefore physically impossible that an event which could not have occurred earlier than nine or ten o'clock in the morning in Paris, could have been known in London between one and two o'clock on the same day; and therefore the report in question could only be a fabrication. The Bank of France would have been compelled to declare its insolvency yes- terday, but for the intervention of the Government with a decree for the suspen- sion of cash payments. This measure, which has been anticipated since Monday.

has produced a most disastrous effect upon the rate of exchange between London and Paris, which has risen today to 27, or about 5 per cent more against France

than it was on Tuesday last. The notes of the Bank of France have been offered today at 30 francs. Taking 25 francs as the par, this is a depreciation of 20 per cent. The Foreign Funds have been steadier, and the fall in the Dividend-paying Stocks has brought in some purchasers. Dutch Stock is from 2 to 3 per cent higher than it was on Monday; but those quotations were fearfully below the prices of Saturday. The fall in the Four per Cents has been most apparent: this stock, which on Saturday was 678, on Monday fell to 59, and has since been 6318. Spanish Stock is rather firmer; the Active having recovered from 11 to 12, and the Three per Cents from 24 to 23. The transactions in these securi- ties are not extensive, and the investments which occur are small. Mexican Bonds are slightly firmer but the reports of the probable ratification of the treaty of peace have not produced any effect upon the market. The Railway Shares still continue to be generally depressed; almost every va- riety of the more important shares being either lower than it was last week, or at

the quotations then given. The greatest instances of depression are the North- western and Great North of Englistid, which have fallen from 31. to Si. per Share. Midland are nearly the smile; and Great Western have fallen about 11. Among the lesser varieties, Brighton are without change; South-western, from 10,. to 11. lower; but we cannot in any instanth netioe an-advance.

The fall in the better class of French Shares has been terrific. Thus, Paris and Rouen are today as low as 15g. On the 28th February these shares were as high as 29. The minor shares are lower than last week, and may be quoted at a depression of from 10s. to I/. The accounts .of the Bank of England, for the week ending the 11th March, exhibit when compared with those of the preceding week the following results-

Bastr.INO DEPARTMENT. Increase.. Decrease.

Beat

Public. Deposits

308,728

Other Deposits 275,407

-

Seven-day and other Bills 9,362

Government Securities, Including Dead-weight.. - -

Other Securities

160,754 Notes unissued 714,380

Actual Circulation

684,595

Issue DEPARTMENT.

Notes issued

29,785

Bullion 73,237

This week. Last week.

Total Bullion in both Departments

14,947,164 14,873,927 Actual Circulation 17,691,020 18,375,615

SATuRDAT, TWELVE O'CLOCK.

Some uneasiness has been occasioned by the non-arrival in due course of the mail from Dublin; and the reported withdrawal of Austria from diplomatic in- tercourse with the French Republic has tended to excite apprehension: these two causes operating together, produced a disposition to sell Stock; and the opening price of Consols was 80g. The market has since been firmer, the quotation having

reached 81, and being now 84 No change is observable in the Foreign Mar- ket. The tendency of the Railway Shares is still downwards; the following are the only bargains as yet recorded: Eastern Counties, 14; East Lincoln, 14; Edinburgh and Glasgow, 34; Great-western, Half-shares, 54; Ditto, Quarter- shares, 16; Ditto, Fifth-shares, 20g; Ditto, New, 14; Lancaster and Carlisle, 44; Brighton, 30 ; North-western, 129 8 ; Midland, 401, 394; Norfolk, 60 ; North Staffordshire, 84 i; York, Newcastle, and Berwick, 30; Northern of France, 24.

3 per Cent Consols Ditto for Account 3 per Cent Reduced

31 per Cents Long Annuities

Bank Stock 801 801 1 shut shut shut shut Danish 3 per Cents Dutch 21 per Cents Ditto 4 per Cents Mexican 5 per Cents 1846 • New Granada Portuguese 14.4 perCents 1842 41 3 61 4

141 1

13 14 14 15 Exchequer Bills 25 30 preen. Portuguese Old 1824 70 5 India Stock shut Russian 5 per Cents -ex. div 85 90 Brazilian 5 per Cents 68 72 Spanish (Active) 5 per Cents 111 12 Belgian 41 per Cents' 58 62 Ditto 3 per Cents 1842 22 3 Buenos Ayres 18 20 Venezuela 18 22 ChM= 6 per Cents

80 90

BANS. OP ENGLAND.

La Account, pursuant to the Act 7th and 13th Victoria, cap. 32, for the week ending on Saturday, the 11th day of March 1548.

15505 DEPARTMENT.

Notes issued

Proprietors' Capital

Rest Public Deposits.

Other Deposits Seven Day and other Bills .... £28,235,615 Government Debt Other Securities Gold Coin and Bu lion

Silver Bullion ........ £12s112211:74°2921841535,2„3.:65°0181-M857 Government Securities, Ott-12705:02 eluding Dead WeightAnnuitylE1101,547444,5.92951

Other Securities Notes Gold and Silver Coin 711,519 BANKING DEPARTMENT. .E28,235,615

414,553,000 3,984,871 6,8.3,063 9,525,3 1

839,622

435,785.767 £35,755,767

• Including Exchequer, Savings Banks, Commissioners ofNationalDebt & Dividend Accts .