MONEY MARKETS, February 14.

New Zealand Spectator and Cook's Strait Guardian, Volume V, Issue 407, 27 June 1849, Page 3

MONEY MARKETS, February 14.

City, Twelve o'clock. — We have endeavoured upon several occasions recently to convey to distant readers an idea of the excitement, partly real, and partly artificial, which exists in speculative circles in the City, as also to state some of the grounds thereof ; and we do not find that up to this day there is any abatement of the feverish symptoms. The discovery of gold in California is undoubtedly the mainspring of the rapid and upward movement in the funds, although a gradual and steady rise, in the easier circumstances of the money market, and with more pacific appearances abroad, would doubtless have occurred independently of the California affair. If we would believe the wonderful estimate of fifty millions sterling, insteaJ of five, which ccoler judging persons expect as the annual product of the " diggings," we should be prepared to acquiesce in nearly all that is predicted by the most sanguine. We should then deem £2 10s. to £3 not a very low price for an ounce of gold, nor be inclined to contest the plausibility of an extraordinary rumour current this morning, viz , that the Russian government is about to forward to England no less than ten millions of the precious metal, in order to relieve its supposed immense, but no doubt exaggerated, store, and anticipate any glut from California. Another extraordinary report, emanating from a highly respectable source, and possibly the information about which .the N,ew York Herald expressed itself incredulous, is that the United States government has received information of a single -block of gold worth £12,000, having been obtained in its new Pacific teiritory, the weight being 2501b5., whereas 20 to 30lbs. is, we believe, the heaviest ever discovered in any other part of the world. The funds continue to show a disposition to rise. Consols for the March account have been done at 94^ and 94§ . The paj jraent of (he differences on the Consol account, which closed yesterday, has gone off satisfactorily. Two o'clock. — In reference to the statement above as to the gojd coming from Russia, we are enabled to mention that inquiry in the highest quarter does not corroborate it. On the contrary, there seems to be no expectation of an arrival. The prohibition upon

-the exportation of gold from R»?sla still exisis, but, this,. of course, wouM noi affect the -government. . ConsulsJor the account 94 | f . — Globe.