I?elow we give an account of an impot tent operation
in the Money. Market, extoicied from the City article of this morniog's Times. If the filers are correctly stated, it behoves the mercantile community to
look carefully about them.
The Comet Market. after a very long period of stagnation. has experieoced an ranee to-day (Friday), though to no very malerial extent. The cause assigned fur :it is a remarkable one, since it is given out to to the determination of the pia uk to lend a
sum of 2.0011,001//. on Stock. Alcunling to another account, law ever, this is not to be
dune with money the property bend flee or the Bank of England, but with funds held ice deposit belonging to the East India Company, for which corporation the Bank is to act 111 the affair solely as agent. All the reports agree, however, in stain; that such s stun, at present lying idle, is about to be employed for such a purpose. Cutler the first of the two suppositions, there would he much objection to it on the part of the monied
interint vneially, as a thrced issue of notes, capable of being corned to an unlimited,
extent-as a proceeding foreign to the principles on which a good batik ought to her conducted-with other reasons of the like nature ; but no man at all conversant with
the subject believes that it has been resorted to in a direct way by the Bank. Still the,
question naturally presents itself, why the Bank should beCUIIIV all agent at all in such a.. matter, and why the something., cot ld not lie done in a direct way by the East India Corns-
pany% To theme', ied interest at large, the effect will, perhaps, be the same, since thermic:
as much an increase of the, issue of notes in one way as in the other ; but it is aver, different thing with the public which of the two corporate bodies is to appear in anddcr
have the management of it. The whole sum is said to be engaged on the part of one leading capitalist. The consequences will be felt more or less, if the fact is correct, Sic every description of Stock,and of commodities too; for such a sum cannot, it is obvious,
be brought suddenly into a market already well supplied, without producing a sensible effect. Some say that this is already perceptible, and that a renewal of the deism& fur produce is beginning to take place. The speculators are evidently on the alert ; and if due precaution is not taKen, will repeat the process which took place in the spring, by coining in at the lowest prices, and selling at the highest, leave their dupes to bear the brunt ofthe reaction sure to follow, and to lament over their losses. In whatever stage of its progress the affair may be, the warning cannot but be salutary."
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