MONEY MARKET.

STOCK EXOBANGE, FRIDAY AFTER:COON.

The appearance of the Money-market has undergone a decided change ; and we have to notice during the week the very unusual circumstance of a fall of percent in the prices of the English Funds. The decline commenced on Mon- cay morning, when it became known that the French Government had conferred the decoration of the Legion of Honour upon the French Consul at Barcelona; thus adopting and sanctioning the interference of that functionary in the dis- turbances of which that city has been the theatre. At the same time, intelli- gence was received of a considerable decline in the French Funds and Consols for Account; which closed on Saturday at 931, opened at 931, and have since declined to 93 1. Reduced Three per Cents have fallen from 941 as low as 94; -hut both these securities have since rallied to nearly the whole extent of the dtpression, Consols for Account closing at 931 fi and Reduced Three per

Cents at 94* The Reduced Three-and-a-half per Cents have been affected in a very slight degree, the fluctuation not having exceeded 1 per Cent. The alarm on this occasion appears to have been entirely confined to the speculators, as there has not been any large sale of Stock either for money or time, nor indeed any indications of the operations of extensive capitalists. Among other reports was one of a very angry note having been presented by our Government to the French Ministry on the subject of the Spanish affairs ; but this did not obtain credit. The Canadian Scrip has been steady, and has fluc- tuated between / and 11 premium. Exchequer Bills have not fluctuated mate- rially. and are today at the price of last Saturday. On Tuesday, acommunication was received at the Stock Exchange from Messrs. LIZARD' and Co., the agents of the Mexican Government, stating that they had received a decree from Mexico, by which, in consideration of the bargain made with the Bondholders in February last, a fifth instead of a sixth of the customs duties at Vera Cruz will in future be set apart for the purposes of providing for the payment of the dividends upon the Foreign Debt ; and the expenses ot the recent conversion are directed to be provided for, either by the deduction of the amount from the sums remitted, or by the issue of Stock to the requisite amount. This latter portion of the decree, therefore, removes all doubt as to the validity of the Bonds recently issued in excess by Messrs. LIZARDI and Co. As soon as this communication was made public, an immediate rim occurred in the price of Mexican Stock; which improved from 301 to 311. One bargain only occurred at 321, but the price instantly fell back to 311, and afterwards to 31i; near which quotation it has since continued. Spanish Active Stock has been depressed, from the causes alluded to when nothing the decline of the English Funds. The Three-per-Cents have fallen as low as 231, being a depression of more than 1 per Cent from the highest quotation ; while Active Stock has fallen in nearly the same degree. The market ev need symptoms of improvement in the course of the afternoon, but wu flattened by a sale of 40,0001. Active Stock at 181, and clones as foRows: Active Five per Cents, 181 f; New Three per Cents, 231 4.

The Financial Agency of the Portuguese Government gave notice, that after yesterday they could not receive any Stuck for conversion until after the 18th January, in consequence of the necessity of preparing for the payment of the dividends due on the 1st January. It is also as well to remind the holders of

a Portuguese Bonds, that if they oreive the half-dividends due upon the Old Stock, viz., the Regency Five per Cents and Three per Cents, they will lose all claim to that fur the half-yearjust ended tom the 16/. I3s. 4d. per cent of New Stock, to which they will be entitled upon the conversion of Five per Cents, and the 9/. /5s. per cent of like Stock arising from the conversion of Three per Cents. The holders of these two descriptions of Stock will, there- fore, do sell to delay receiving the dividend upon them until they have con- verted them into New Stock. The transactions in these securities have not

been important; the market may, however, be considered as firmer than it was last week.

The other Foreign Bonds have given way slightly, in consequence of the decline of the English Funds ; but the business transacted in them hu not been important.

The Railway Shares are without material variation ; there is, however, a tendency to decline, from the reason given above. A disposition was evinced to keep Monday next as a holy day in consequence of Christmas-day falling on Sunday. The closing of the Stock Exchange must always depend upon that of the Bank of England, and the Directors of that establishment determined to be guided by the course adopted by the Commissioners of the Customs and Excise; but as those two public offices will be kept open on Monday, the idea of closing the Bank and Stock Exchange has been abandoned. All the public establishments of the City will therefore be open on that day, and business will go on as usual.

SATURDAY, TWELVE °TIMER.

The improvement of 1 per cent in the price of the French Funds in Paris on Thursday, has caused a rise in our own ; Consols for Account, and the English Funds generally, being at an advance of per cent upon yesterday's pate.. The premium upon Exchequer Bills has improved I. and is now 50 to 52. The variation in the prices of the Foreign Funds is in Spanish Stock; both varieties of which are b per cent above the closing prices of last night. The transactions in Railway Shares have been confined to the following; Edinburgh and Glasgow, New, 5; Great Western, New, 631; Northern and Eastern, 351 ; ditto, Scrip, 10.

The return of the average aggregate tirculation of Bank-notes in the United-- Kingdom for the four weeks eliding the 10th instant, exhibits, as compared with that of the 12th of November, a decline in the gross circulation of

1,654.6871., in the following proportions-

ENG LAND—Bank of England £1,263,000

Private Banks 348,937

Joint Stoek Banks 195,464

IRELAND—Bank of Ireland 24,675

Private and Joint Stock Banks 21,974

119 Total decrease in the circulation 1,854050

Deduct increase in Scotland 199,363

£1,656,687

During the same period, the amannt of bullion in the Bank of England has increased 604,000/.; the present return being 10,511,000/. against an amount last month of 9,907,000. As compared with the return of 11th December last year, there is an increase of 1,631,6181. in the amount of the gross circulation, aud of 5,480,0001. in that of the bullion.

SATURDAY. FOUR O'CLOCK.

The English Funds close at the morning's quotations. 'rile Foreign Funds generally are also firmer ; Brazilian being 701; Mexican Five per Cents, 311 1; Spanish Active and Three per Cents are also higher. the Five per Cents being 181 I, and the Three per Cents, 241. The following business hos occurred in the Railway Shares since the mourning; Great North of England, 68; Brighton, 36 a; South-eastern and Dover, Scrip, 1711.

3 per Cent Consols end

Colombian 6 per Cents

211 1

Ditto for Acoond 931 4 Dan eh 3 per Oen:. 81 6 3 per Cent Reduced .. 941 1 Dotch 21 per Ceuta 53$ 4

31 per Cent Ditto

101 4 Mexican 5 per Cents Coned • 3111 1 New 31 per Cents shut Rotuguese Regency 5 per Cts

321 31.

Bank Stock 171 2

Di to New 5 per Cents 1841.

324 34 Exchequer Bills 21d. ....prvm 50 2 Dittu 3 per Cent • 23 4

Ditto I'd teem

50 2

Russian 4 per Cents 112 t 13

India Stock shut

Spanish (Aetive)5 per Cents.

141 4 Mania!! 5 per Cents 70 1. Ditto 3 per Cents 1812 234 4

Belgian 5 per Cents

101 2