LONDON DISCOUNT AND MONEY MARKET.

Southland Times, Volume 2, Issue 105, 23 October 1863, Page 4

LONDON DISCOUNT AND MONEY MARKET.

- Y C^joni the Economist.) ' The rapidity Vitli which' HarVe<ifc operations are bring fiondticted over the 6ountry has led to a large a_d active (tamfimLfor coin*} and the slight hardening in the .rate is, to be -trttribtxted to this c:iuse. A moderate amount of btisineas ha* been transacted at. the Bank. Tae tofreign ietUi&g at the Stock Exchange adds also its qttota to the -movement, as a large amount of the money on deposit is, and haa been for some time, -employed in ad vances-on foreign stocks and secut-if ies. There is. however, no sort of > indication of pressure, and ; lendei-s are only nble to make about $th more on ftdvances'than "tlie fate obtainable a fortnight ago. The anticipations t)f a favorable harvest are so far fully realised; and,. should the present weather. Inst, the influence of abundant crops will soon be ftlt. The tendency *>f the exchange is more markedly in fuvor of ihis countrv to-day, and th« arrivals of gold must continuo to flo«r into theß-ink. Annexed are the current terms tor paper of various dates t-^-SO to 60 dajs. 3{- _ per cent ; _ months, 4 per cent* 4 monrhs, 4 4£ per cent} 6 months — Bank bills, 4£ £ per cent j do, trade do, 4£'s per cent. _ ; Jtoney continues easy on 'Government seettri- ' ties in the Stock Exchange at about 2 per cent. Annexed arc tbe rates of interest allowed on depositee — Joint Stock Banks, _ per cent. Discount houses at call, 8 per -cent; do.-, with seven . day's notice, SJ per cent.