MONEY MARKET. MONEY MARKET.

STOCK EXCHANGE, FIIIT)Alt AFTERNOON;

The Consol Market has entirely recovered the shock which it received last week ; and, after improving more than per cent. from its extreme point of depression, is now within A per cent. of the highest quotation, at which it has stood for sonic time. Money is abundant, and all descriptions of English Stock very scarce. The transactions of the week have not been of an extensive or im- portaut character. The determination of the Bank Directors to increase their rate of discount to 41 per cent., will, it is believed, ultimately only affect their own establishment, by lessening the amount of their discount transactions; as the London and Westminster Bank and private bankers still discount at 4 per cent. ; and until their capitals are all employed, the Bank Directors must either receive bills of inferior character, or in a great degree suspend their discount business. The hostility of the corporation against the Joint Stock Banking establishments, is therefore easily accounted for. Until their existence, the fiat of the Directors was omnipotent in decreeing the value of money ; but with these new establishments has originated a competition, which, as it is infinitely more powerful than that of any private bankers, bids fair to diminish materially the effects of that successful monopoly under which the gentlemen of Thread- needle Street have so long thriven. In the Foreign Markets, Spanish and Portuguese Stocks have been the chief objects of attraction ; and on fuesday last, (when intelligence of the death of Mr. RceruscHno was received, by means of' pigeons, some hours before it be- came known to his family by an ordinary express,) a sudden decline of 2 per cent, occurred in Portuguese Stork; but the market rallied again before the close of business, and has since continued to improve. Spanish Stock has touched 35 and 37, but has fluctuated within per cent. of 06 either way. The fact of the French Government having allowed an increase of 10,000 men in the numbers of the Foreign Legion, together with the total failure of the expedition of GOMEZ, would doubtless have produced an improve- ment, but for the inexplicable tactics of CORDOVA anti the inactivity of the armies in the Biscayan provinces ; added to which, the Stock had undergone a considerable depression in the various Foreign Markets, especially at Antwerp, where it fell on Wednesday last to 32i, (but was afterwards at an advance of 2 per cent.) • and as large quantities of Bonds have been sent here for sale, the price has been kept down.

Dutch, Russian, and me other European Continental Stocks, have acquired snore firmness in consequence of the improvement in Consols. The South American Stocks have been neglected.

The market for Railway Shares has been very animated. Early in the week, when it became known that the Lords Committee would decide against STE- PHENSON'S Line to Brightor, the premium on the Shares declined from 5/. to 1/. ; and on the resolution of the Committee reaching the City, which it did just previous to the close of business on Tuesday, the Shares fell to a discount of 2/. ; at which they have continued ever since. A demand has arisen fur the South-eastern Shares, as the recent decision is considered favourable to the pro- posed branch communication with Brighton from Gated, which will materially Increase the value of the South-eastern line. There has been a fair quantity of business in the other varieties, but it has not led to any material alteration of price.SATURDAY. TWELVE O'CI.00K. The only activity that has been manifested either in the English or Foreign lUarkets, has been in the Spanish Bonds, which, in consequence of some re- ported success of the Chi istinos, have been as high as 361, ; but that price has not been maintained, and the quotation is now :313! a. Portuguese Stocks are firm at advanced prices. Railway Shares are generally unmoved : the following are the prices of those most current. London and Birmingham 70 72; South Eastern 26 3; (lreat Western 181, 194 ; Greenwich 45 prem. ; Brighton (Stephenson's) '2 1 die.

SATURDAY. FOUR O'CLUCK• Spanish Stock continues depressed, with little doing; the closing mice being 34 Coieuls and other English Stocks me also without any alteration. The Railway Shares are without variation.

:-per Ceut. Consols Ditto for Account jper Cent. Reduced

New 31 per Cent Anita

India Stock Bask Stock Exclaapter Bills

Belgian 5 per Cents

Brazilian 5 per Cents 911 1 — 911 2

1001

2601 — 10 12pm. 101 1 881

Danish 3 per Ceuta. 761 71 Dutch 21 per Cetus 551 1 Mexican 6 per Cents 31 32

Portuguese Regency al'- Cts 781

1 Ditto 3 per Cent. 481

Ditto 5 per Cents 1836 See ip p. 1pm.

Prussian (1818)5 per Cent Russian (181) 5 per Cent 1101 1111 Spanish (1835)5 per Cent 364 1