Star. — London, England, 1819-05-26 00:00:00

• t. •i. !?‘ ; ; I 1, 1 1 / 4 LI r, , I 1)1 ~'M, Mg EV EN ENO . ST4 R LONDON 4 WEDNESDAY. MAY 26, 1819. THR FUNDS PRIM Or STOCK)! TNIF DAY AT 0141 O . CLOCK Bank Stock 210 21'2 214 3 per Cent. Reduced 64i 663 • 3 per Cent. Consols 65 67i 661 Si 4 ) P r Cent. 731 741—i r.er Cent. 79189 5 per Cent. Navy 99 1011 '101 • Bank Long Annuities 16 15-16 17 1-16 Imperial-3 per Cent. Anns. 65 India Stock SOS India Bonds 9 14 dis. Eschetluerilills ( 4 2d.) 6 1 dis. Consols for Acct. 651 63il This being settling day at the Stock Exchange, and such an unusual ,depression having taken place during the Account, Much anxiety was visible before the commencement of business. Consols for Money began at 65k, fell rallied to 66, and kept fluctu ating to 6.5, 66i ; for the Account GO, 664+, 6711. . Before eleven o'clock upwards of two millions of Stock were purchased, and up to one o'clock no' ' defaulters had been declared. The principal suf ferers on this account are not the llouse but the Pub lic, who have been bulling for the benefit of the Bro kers. Some of the latter have, however, been let in to the amount of a few thousands. Last nig ht the Debate on the Resolutions founded on the Report o.f the Secret Committee on the Affaiis of the Bank, was resumed. These was, considering the nature of the question, a considerable degree of good temper, and even of unanimity : the principal difference of sentiment being not as•to the principle of the Resolutions (though even on this there were a few unargumentative dissentients) but as to the best means for bringing them law complete operation. After the Debate had been protracted to one o'clock this morning, Mr. ELLICE withdrew his Amend ments, and the original propositions submitted by Mr. PEEL, were agreed to without a division.— Thus has a period at last been fixed on for the Re sumption of Cash Payments--yno unforeseen contin gencies intervene, over which neithe- the Bank nor the Goverment can have any controul. But as this event is proved to be within the reach of possibility, from the failure that fixllowed the partial attempt made by the Bank to return to Cash Payments, when we had our late coinage of sovereigns, the country ought seriously to consider of collateral means to insure, and even to hasten, the return to a Metallic Currency. In speaking lately of the difficulties of the present period, we threw out an ilea that it might be expo. dient to think of forming a new Bank, entirely Com mercial. This idea was not the suggestion of the mo ment ; and we understand that many well-informed people in the City, who have taken the same view of the fatal principles now in operation, arising out of the Bank Restriction, seem to think the measure of a New Bank the best and easiest remedy applicable to the present difficulties. The only question is as to the mode of carrying the plan into effect.—But the speediest way of arriving at a sure foundation for the proceeding is to reduce into a brief form the ac.l tual state of the Bank of England. 'lt may be laid down as indisputable facts-in the first place— That the Bank of England it so circumstanced in its engage ments, that it is obliged to require time to fulfil them. 2. That even at the expiry of any named term it will not be able to fulfil its engagements, unless other circumstances co-ope rate, Over which circumstances it possesses no ountroul. 3. That tic cause of this defalcation in the credit of the Bank is owing to its intromissions and transactions with Government. 4. That these transactions have pressed, and do so press on the affairs of the Bank, as to cause an uncertainty in the extent of tile accommodation which the Bank would otherwise grant to the rnercantik body in discount., &c. Now these facts having been demonstrated, it seems no less clear that the Bank, as far as it is a mere Banking Establishment, should wind up its concerns, being no longer in a capacity to act from itself free and uncontrouled, and consequently not morally re sponsible for its undertakings. But this cannot be" done without the most dreadful effects—unless a dew Establishment could be formed to fall in with the en gagements of the old. It is evident that the Bank of England is now a political as well as a mercantile Establishment ; and that' to disjoin its functions, in these two several ca pacities, would supply the desideratum. Let there fore all matters connected with Government and the Public Funds, be separated from the Banking De partment, and let the Banking Department then pro ceed to wind up—while a new Banking Corporation, with nen) notes, and entirely on commercial principles, is formed. A capital subscribed for the purpose of constitut ing the new Establishment, the next step would be to transfer from the old Bank all the mercantile and deposite accounts, and from that date the old Bank to cease from issuing any more notes , and the new one to commence its operations. ,The resolt, of thii arrangement would be, that wlfiie the Notes of the Bank of England were gra cheakly.retiring,- those of the New Bank would take . . their place in the currents of the circulating medians; and as the New Bank would be formed on the ex press condition of paying its Notes in cash when re- 1 ` q~ ~, ~:i 1; 11 c i' l quired, the evil of the present system would be effectually abated, and the holders of the Stoc k the Be k of England would in the end, when their affairs were closed, revive that just dividend of the assets of the . Bank to which they are entit led.— In fact, from the system pursued at the Bank of only discounting Bills at 65 days, every Note now in cir-. ealation, issued on mercantile or agricultural secu rities, would be called in within 66 days, and what remained out after the expiry of that period would consist only of the advances to Government, and the amount of the salaries paid to the Officers and Clerks of the house, and far them the Directors might be authorised to issue Debentures, which should be re ceivable by Government in payment of duties. When the Bank had in this manner called in the Notes issued on bills discounted, in advances to Go vernment, and in payment of its Officers, all the Notes in circulation would be extinguished, and the assets of the Bank would then consist of such specie or bullion as remained in its coffers, and the amount of the debt due by Government. Of the solvency of the Bank there is no question, but its means are not available, and therefore as a Mercantile Establish ment, Parliament, as the repfesentative of the Pub lic, its creditors, at this moment deems it necessary to put its affairs under regulation, if not in trust. In the foregoing remarks we would not be under stood as charging the Bank Directors with having acted differently from what other honest men would have done, if placed in the same circumstances. But we must charge the Government with having corn , mitted a great oversight at the time when Cash payments were suspended by law. It ought then to have been enacted, that till one year after the resump tion of Cash-payments, the Proprietors of Bank Stock should 'not receive greater dividends, in the name of profits, than they had been paid for - the three years preceding tke suspension. In other words, it ought to have been provided that the increased profits, should any arise from the unrestrained issue, thus put in the power of the Bank, should accumulate, to meet any difficulties that might possibly occur in restoring the metallic circulation, whenever the period for this might arrive. This, however, was overlooked,' and hence much of our present difficulty. But, though we cannot bring Time back again, wise men will ever endeavour, by anticipation, to direct the current of future events, as far as human prudence can controul them. The measure we have suggested is one cal culated to answer such an end, and we submit it to the consideration of those who are best qualified to mould it into form and give it efficacy. If properly directed, and confined exclusively to its avowed ob ject, it cannot miscarry. Earl GREY brought in a Bill fast night in the House of Lords, for the Repeal of the Oath and De clarations against Transubstantiation and the Invo cation of Saints. The Bill, howeVer, provides that nothing therein contained shall extend to dispense with the Oaths of Allegiance and Supremacy. The practical effect of it, therefore, is not to relieve the Roman Catholics from any disability, but to relieve Protestants from the necessity of declaring the Ro: man Catholic Religion superstitious and idolatrous. A Hamburgh Mail arrived this morning. The following are the only articles brought by it which deserve the slightest notice : HANOVER, MAY 17. Since the abolition of torture has been unanimously resolved upon by the Assembly of the States, the Committee has prepared the introduction of the Trial by Jury and the publicity of Judicial Pro ceedings in Criminal Cases. The proposal that our Deputies to the General Assembly of the States shall not receive in future ' four dollars per day out of the Public Treasury, but that the Deputies shall be paid by the Province by which they are sent, is much approved of; for the Hanoverian Diet, if all the Deputies were present, would cost the country 500 dollars a day, or above 180,000 dollars in a ylar. BRANKFORT, MAY 16. The Archduke Palatine, having obtained the con-; sent of his Majesty the Emperor, has been formally , betrothed to the eldest daughter of the deceased Duke Lewis of Wurtemberg. The Duchess, her mo ther, has sent a Courier to Stutgard for the consent of the King. The Papal dispensation has already been obtained, COPEXpAGEN, MAY is. It is said that his Majesty's subjects in Denmark, Schleswig, and Holstein, will be forbidden to study in future at the University of Jena. STOCKHOLM, MAY 14. After the Ist October this year, no one will be promoted to the rank of Officer in the Swedish army who has not been examined by the Preceptors in the Military Academy, or in presence of, and with the approbation of Field-Marshal Hedingk, and of Ge nerals. Cronstedt and 'Ubell.. The departure of the Crown Prince, Oscar, Scotia, where he is General-in-Chief, will take place nest week.' The departure of the King is put off: toe a bite date. • ' . <».~~t lIRRMEN, MAY la. • . the repotts of misunderstanding between Swe and some other; Nottbern P9wfigv, rtradicted by mitny letter* : frote• iStildine: tke know nothing in that kingdom of sick partitions, and even the general measures of delencet the plan of-which was laid many years ago, are pro- w. 1114110 se , slowly, that it will take several years More t 0 ~pmlett them, ibrinburgh Exchange on London, May 22, 33.71. The Paris Papers of Sunday arrived this forenoon, but furnish nothing of the least importance. The Chamber of Deputies reached on Saturday within two articles of the conclusion of the Budget. On Monday the discussion would, in all probability, be terminated—live per Cents. Saturday, 67 fr. FROM OUR PRIVATE CORRESPONDENT. " PARIS, MAY 21, 181. " The Coronation of his Majesty is at length defi nitively fixed, for the third time, to take place on the 25th August next. As the holy oil, the Sainte Am pauk, which,according to tradition, is absolutely essential to the ceremony, was destroyed during the Revolution, a new miracle will be necessary for its production, and the Missionaries fancy they have so well prepared the credulity of the French nation, that they may hazard one without danger. " Unfortunately the secret has escaped too soon, One of those holy men is now instructing a carrier pigeon to light on the shoulder of an effigy dressed in the grand costume of the Archbishop of Rheim. k already performs its task tolerably well, but by mistake sometimes lights on that of its master : how ever, by the 25th of August there is no doubt of its being quite perfect in its part, and that it will light with a bottle of the holy oil tied round its neck, on the Archbishop at the proper moment, unless any in discretion in prophesying the event, make the mira- cle worker change his intention. " I am far from believing the Acchhishop of Rheims to be capable of lending a sanction to such an impious cheat; but it is not the less true that there is a Priest weak enough to believe it might pass, and wicked enough to attempt it. This exposure will, it is hoped, prevent its being carried farther. " The Ultras are proud of their triumph: let them enjoy it. The Vamais' (never) of M. DESERRE will only extend to the 25th of August. M. DECAZES, to whose noble patriotism the French nation is indebted for the exercise of so many of its liberties, wished the law by which the parties were banished to be revoked. His Majesty, on the contrary, wished the measure to emanate from himself, as the fountain of mercy; hence M. Deserre, when he exclaimed the terrible jantais, but little knew the bounty of his Royal Master's heart, which originally yielded to the measure with pain, and ta gratify a faction, which he thought his friends, but who have proved themselves the bitterest enemies of their Ring and the Nation I Besides, what is meant by Regicide? " The proscription would apply to the whole na tion, in some degree; but if the merit of the question were fairly entered into, it would be seen that the principal Regicides were those who made Louis XVI. seek foreign aid, to destroy that Constitution which he had granted the nation. Strictly speak ing, then, the regicides lived in England from 1791 to 1814. They have already sent one Monarch to the scaffold, and they would not hesitite to repeat the tragedy tor the bare 'chance, that a success& might regard them as the Nation, and the rest as , mere beasts oi burthen r Tins DucuESS ss ICENT.—We are extremely happy 1 to say that her Royal Highness continues as well as can be expected in every respect. The following is a copy of yesterday's Bulletin : " IMINCTON PALACE, MAY 23. " Her Royal Highness the Duchess of KENT has had an ex cellent night, and the Royal Infant continues to do welL" Earl BATHURST and Count MUNSTER had audiences of the PRINCE REGENT yesterday. The Earl of CA RNARVQX gave one of the grandest Balls this season, on Monday evening, at his mansion in Grosvenor. square : it was past five yesterday morn ing before the distinguished party retired. The first of the Missionary Sermons this season was preached last Wednesday, at Surrey Chapel, when the unprecedented large sum of £517 was collected. At the Crown and Anchor Tavern on Monday a Meeting took place, to celebrate the Twelfth Anni versary of the Triumph of Westminster and Purity of Election. Sir FaaNcis Buttner'. was in the Chair. When the cloth was removed, the Baronet, in a speech, an hour and a half long, expatiated on the weakness of Ministers, and the benefits that would arise from Annual Parliaments and Universal Sufrage. KING'S THEATRE.—MOZART'S famous Opera, /I ,Flauto Magico, \vas pet formed last night, and its .effect was admirable. The plot turns on the love of an Egyptian Prince for a young devotee of the goddess Isis. The Prince's courage, constancy, and wisdom are put to the test ; he is initiated in the celebrated mysteries, and, by the help of a beneficent Genii, and the magic flute, triumphs. and obtains his bride.— GARCIA and Arladame BELLOCHI were the principal characters. The music is already popular, and is generally of great beauty, though of a lantast;c style. The dresses were costly, and the scenery profuse and magnificent. The concluding scene, with its .burning circles and columns of silver fire, is the finest that we remember upon the stage. The House was full and fashionable. The Opera promises to have, in the technical phrase, an unequalled run. The Old Bailey Sessions commenced this morning, when Robert Rhodes, John Breese, Michael Egan, and Patrick Court, privates belonging to the 19th Light Dragoons, now stationed at Hounslow, were indiCtrd for stealing IE4B and upwards, the property 'of 'Thomas Enfield,' from 'out of a box which be t oi*f .to 'the prosecutor, on the 22d of April.— clot- . 11- Rhodes were found Gnilty ) but recom-• tended tci,..Metcy the two others were' acquitted. MVliDtli -Yesterday morning, a murder was coin fifkkerd.Wthst blldifefia bmuftesiding. in Flower-court, . .ANIL -ate - "Ni 'dial-heaver, well ktabvni by the ijklilit6 , By7 Mikis *implicated Id& 1 1 ; fileasawd's Suss theft: were , 9fterst stabs id' the body, which 'caused his immediate death. Th woinan has Absconded. THE ARMY. Monday the 6th Dragoon Guards marched Nry i Loads for their head-quayters, at York : where, w the Yorkshire Hussars, and the other troops in district, they ate to be reviewed by General livto. Yesterday, the Duke of YORK tralisacted business with the PRINCE IllaiENT, iL t , et NAVAL INTELLIGI IVCE, The Ann, Cturnme., from Swansea to Waterford. genie% e t a sunken rock, war rise Snails, on Seturday, and foutidL.e , .... Crew saved, And arrived at NP.lford. Pzswca, MAr 22.—Wind ti.s W. hazy weuth.1..4„,, , ,,4 his Majesty's ship HILLSCON, on a et uize. Ransoirt, MAT 24.—Wind Pasterly.-.-Arrlved the "N;-:-. Sower, Pastvots, of and. for London, frets Dartmouth ; 4 % masted. Coax, MAT 10.—Sailed his Majesty'i ship Teismos. POATAMOUTO, MAT 95.—Wind h.. N. --Passed by the Ifi g . Company's ships Marquis Wellinnton, and relnee ee a micle of Wales, for WngaL Sailed the Crown, —..-, for G urut). Daiit„ Mar SM.—Wind N. E.—Sailed his Majesty's e k,„ Writ, on a irnize to the Westward. • fitasaannts, MAY 45.—Wind E. N. E. Mows stro-7.-11 4 , sehoolker Henry, Cows, from London to Bristol, is rmi in le nt with loss of an anchor and leaky, having been on shore raj Margate; also the sloop William, Latwoolom Peterhead, loss of tunsanehors and cables lu the Sw•in. HASWICII, MAT U.... Wind E.. V.E.—Arrived the A111:71 1 packet, from Gottenburgh, and Eclipse packet from Cathay; both with mails, &e. Pm-mourn, Mar 22.—Wind from S. K. to &S. V. E r i s breezes and fine weather.—Arrived the Prince Enitm packr, with a mail from Lisbon, in fourteen days; Wellington, tram Cork. Mar 23.—Wind East.—Arrived off this port the rattma, LAMB, from Bombay, sailed 3d January, in company v.ick th e General Graham, of and for Lapdog • from the C.lpe tali ye. bniary ; and from off St. Helena th e 4th 'Aiarcla: spoke I:th inst. the Jaffe, of London, from Belfast, to Jamaica; and, . 4 17th, the Alicia, from Teneriffe, for Bristol. The Batavb ear. vieneed very had weather on her passage home; she has lost k; head, and the head of her rudder, and is obliged to stesrvill the assistance of a spar across her stern.—Sailed the Osbert, packet, with Mails for Lisbon and the Islands. Crwroar-Korea, ittsv 26.—Entered Inwards—The Sens, Bishop, from Teneriffe and Lanzaroti ; liboa Aal, Bremeu, from Worcum ; Peace, Meythan. from Arclaingel; Twee Ce. austere, Meyer, from Embden ; Levant, M'llzber, from B e t fast; Duke of Kent, Pound, frost Rotterdam; Ode Panes son, from Rio Janeiro; Queen Charlotte, Blake, from Bone. dam; Erwarting, Hohorst, from 3.lemel ; the oorre Bible; Scots, from Antigua; Aianwell, Tate, frorn Hamtvergh; jihiara, Webber ' from Campeachy ; Ebenezer, Edmunds, from Ham. burgh ; Union, Galloway, from Harlingen ; and Telematka, Rogers, from Bourdeaux. Entered Outurards—ne Sprigirb, Carron, for Elsineur and Petetsburgh q aeries, Dupelre.,l4 Havre ; the Royal Sovereign. Atherden. for Naples ; Concert, Wales, for Naples; Aurora, Nichols, for Cork ; Aurora *ors, for Amsterdam; Clio, Jackson, for Sevil l e; Ann, Spence, for Antwerp; Circe, Penny, for St. Blary's ; .Nlargaret, Smith, fir Rotterdam; the Radman, Knight, for liarhadoes ; Hope, pl. bum, for Philadelphia • Alexandria, ilov.rwt, foe Calla Haughty, Lamb, for India; Flora, I.3tcker, for Pillan; the Aurora, Willis, for Elsinenr. The BRISK being ordered to sail to the French coast for the purpose of bringing over Prince Leo. ?OLD ; every possible exertion hks been made to get .her ready for that purpose, which was accomplished 'on Saturday, about noon, when she immediately sailed from Chathant The Florida, which was taken into dock at Chat. ham, about a fortnight ago, has been pulled to pieces. She was an Ametican, and considered one of their fastest sailers. The BLANCIIE was launched at ham on Monday. Yesterday the dispatches for Bengal, by Abberton and Hooghly, were elosod at the . House, and delivered - to their respective M: Friday, one of the Kirkaldy pinnaces, in of Leith harbour, a littls after ten o'clock, by a heavy sea, when the crew, consistit men, were unfortunately drowned: The happened between the second and third' posite the harbour. The sufferers were all and belonged to Kirkaldy. Their names MACAVOY, DAVID SHARP, HENRY SHAN; DREW COUTTS. The three latter have large lies. MacAVOY was but lately married. Another very distressing accident, of a ture, happened the same morning. Mr. the Naval yard, Leith, accompanied by was proceeding in a boat to Kennet, near which place he had nearly reached, when was struck by a sea, and upset. Mr. Bauer seaman were picked up by a sloop, and Kennet, where every exertion was used pose of restoring animation. These sum the seaman, but they were wholly unavai gard to Mr. BRUCE. CORN-MA RIC FT, M A RIC-L AXE, M. We had but little English Wheat at Market this which rather mow money was asked, bat could not.. as such our prices remain as on Monday. In Barky little or nothing doing, the malting season belm , and there is no demand for Foreign, although , prices. The Oat trode continues very heavy, and a reduction of is. per qr. was sbbasitted to, the market being very large. STATE OF TILE ODDS.—IiETTING4OO - sto I agst 'Melia, . 1 9 to 2 agst Sultan 7 to I apt Dominie 7 tirt apt Louisa 15 to i apt Sle Topaz The above odds mil OA 11 to 1 apt Eupb) 15 to 1 a:st Qi• Sfo to 1 agst Ids 40 to 1 apt >lmmure all actually taken. 2 to 1 apt Dodon; 9 to 1 ags: Wa, 7 to 2 apt Btue Stocitup 12 to 1 agst SAI 7 to I agst Barossa 16 to I agst Cooseander 9 to I agst Catgut 20 t• 1 apt Spotless. 01"fERINGTON FERRY HUNT RACES, r • mamas. MAY 24. A Silver Cup foe Morin wisi; hunted regularly , • Heats. Captain Fowler's Brood Brim Mr. Hudson's iss...lX.owsey - Sir C. Foil-hunter Mr. Cad's David - • Captain Meat's Dash - David broke down after the second bre, retry was closely run. • • Sweepstakes by Sutincription of Sven CuL , Gad', Tattler Mr. Wood's Frkmpton Yr C. Millis Ariel Six others started; but run on the wrong side 4 to i against the winner. ' • PEDESTETANIS3I. Saturdnir morning, about okras a'etoei, end!, task of walking fawn the Vrfilfes, ia Church-strei the Castle luo, at Dov e r, for thirteen successii wager of £125. lle - eonunekeid With a fyi coa l plating the task, kut, on big arrival at Chathax, euvered httdiblihtera , Howiver.Ae* comic:ad Dover, - but ontirreurre wart esesoitated to resign war Canicnbprj. , •-- -a- -& = 4 . 411-11EIX • Oil dip lid kistrietat Btiza.44.: Rortnin Ms of East ifs.tarry-Cbraorag. y .,,. m _ Tir..llfeCTN7lNietted ar:4piallished ttri. Ot y, Pullet 444- ted c•tryi W )s ill liY U. military n li4r4 r, 1 1.• read et and, the !tooth, t l s , el • ty the Bee, alliticle Giterase ) , esty's ski op era •.at pAt • . ki d , V shote raj Owed, Ai l or Allit.7l t 011131; S.W. E r i s /6 dear paae, Pori, rltt, a he rstr i j a , my %soire e .Ipe rah Ye. : spoke 1:tli lea; and, ea latavb etye. 1 e has hist he r to SOW irit the Osbert, The Sons, ii, Bremeo, s l ; Twee Co. frost Bd. les, Petro. a. from Reno. are Hibtott, rgh ; J'atiara, from Ham. • Telemaeloa, he Sprigill e , I.)upeire., to es ; Concord, sera, 11. mos, 1, Spence, he et, Smith, fcr ; r; r Calais; ris Blur; :Di • 1 the French 'rince Lto• nade to get complithei rnmediately ch at Ch I ed to pieces ri ° Elie of their . ted at Chsz- py the slips e East-hula Maims. in going out c; was upset iug foot I he • *tided btsoirs, all married, les are Ws. :0, and A* large fari I serious na• BaucE, of a seam 22. near Allot ten tee bat ace and the carrier into for the pwr needed with ailing in re- r AT 2C. is tocanin, fa lot be obtaiani, Earley there a rig nearly over, offereil at kw 4 1 to effect nig he quasitiry A M, ILA I pbrates nil • srguretu. ILtll. ahter 11 (meander ,orless. ES, BUCKS. Four-milt -1 5 ; _ 2 4 5 - Z 4 -4 1 a S 3 ry one o:wlek 1 Llers cash. 1 e of the you sr we one or be vet, Dosowell, ive days, for • raMence. of crw. ,veto T , hb feet 1 his ttign the 155* : so. R raj, Prcketh t • t