A Hundred Years Ago
" THE SPECTATOR," NOVEMBER 5TH, 1836.
MONEY MEiti.KET.
STOCK EXCHANGE, FRIDAY AFTERNOON.
The gloom which has for some time pervaded commercial affairs, has been materially increased to-day, by the receipt of intelligence of more than one failure of importance at Antwerp. The accounts from Paris of this morning, and those from Amsterdam received last night, are also of a very unfavourable character ; and these circum- stances, coupled with some failures in the City, have thrown con- siderable impediments in the way of business; by rendering the negotiation of foreign bills of exchange, by any but houses of the first character, a matter of difficulty. A further indisposition to exchange operations had been produced to-day by the state of the Corn-market ; upon which the unfavourable weather of last week,' by destroying all hope of saving a considerable- portiori of the yet unhoused harvest in the North of England and in Scotland, has' produced a considerable rise. Foreign Wheat in bond is 5s. per quarter higher, and English corn has also improved 2s. This renders an importation very probable ; and, as a necessary consequence of this measure, a further export of gold must take'plaee, and drive still lower our already depressed exchanges. Money still' continues in demand for commercial purposes ; and the rate of discount is higher than 5 per cent. In the Stock Exchange, however, it is plentiful ; and the only market which has evinced any weakness is that for Exchequer Bills : it is kept down by the recurrence of large sales, said to be on behalf of the Bank of England. Some consider- able sales have also occurred in the Heavy Stocks on the behalf of the • Scotch Banks ; but the prices both of those Stocks and -Consols • have been well maintained, and till today have not evinced any tendency to decline. Slight symptoms of feebleness have, however, been manifested this morning ; but the fall has not exceeded
per cent.
Previous page