Star. — London, England, 1815-01-27 00:00:00

THE EVENING STAR. LONDON. FRIDAY, JANUARY 27, 1815. PRICE OP STOCNS THIS DAY AT TWELVE O'CLOCK s Reduced 691-4 per Cr. es—s per Ct. Navy 941 Consols 651 i—for account,6sll-omnlum db. Bank Stock 238—Long Anna. 18 7-16tha—Sonde las, pea Exchequer Bilk se. se. pron. Today we received the Paris Papers of Tuesday the 24th instant. The Duke of WELLINGTON has left Paris to succeed Lord CASTLEREAGH at Vienna"; and his Lordship, it is understood will set out for this country, almost immediately on the arrival of his SUCCESSIDT. If we are to be believe the Paris Papers, all the most important points under discussion at Congress, are as yet unsettled. We subjoin the following ex. tracts : PARIS, JANUARY 83. The Duke of Wellington sets out this evening for Vienna. All the other Members of the English Legation remain at Paris, as well as the Duchess of Wellington. Lord Castlereagh has left Vienna to return to London. General Excelmans is confined in the Citadel at Lille. • The Marquis de Riviere has been appointed Am- bassador to Constantinople, in the room of General Andreossi. PARIS, JANUARY 24. Yesterday the Duke of Wellington took leave of his Majesty, in a private audience, which lasted a long time. His Excellency proceeds to the Con gress at Vienna, and Lord Fitzroy Somerset is ap pointed to succeed him, during his absence, u Mi nister Plenipotentiary. Although for upwards of a century it has not been usual to invite, in the King's name; the Diplomatic Functionaries to public funerals, all the Ambassadors and Foreign Ministers, nevertheless, thought it their duty to assist at the obsequies of the late Louis XVI. and his Queen, and they occupied in the Choir of the Cathedral of St.. Denis placeewhich, were reserved by order of his Majesty. We have to add to the particulars published yes terday, that the Marquis de la Roche Jocquelin, Captain of the King's Horse Grenadiers, command ed the demi-squadron of his company on duty. • The first carriage in the procession was filled by Count de la Ferranaze, first Gentleman of the Cha mber to the Dec de Berri; Count Nautouillet, his first Equerry ; the Count de Damas-Cruz, first Gentle man to the Duc d'Angouleme, and the Duc de Gulehe, his first Equerry. In the second carriage, Vicompte Montmorency. Chevalier de Honneur to Madame la Duchesse d'An gouleme ; le Vicompte d'Agoult, her first Equerry; and the Abbe de la Farre, formerly Bishop.of Nancy, her first Almoner. In the third, the Duc de Fitz James .first Gentle man of the Chamber of Monsieur, Count Frangois d'Esgars his Captain of the Guards, Count Armand Polignac his first Equerry, and Abbe Latta, his first Almoner. In the fourth were the celebrated M. Hue, first Valet de Chambre to the late and present King, and three other Officers of the Household. Among those who were present, and who were re garded with most interest, was M. De Seze, the Counsel who se nobly defended his Sovereign against the brigands who murdered him. The health of the Duchess of Orleans is daily more aatisfActory. She is now permitted to take food. BERLIN, JANUARY If. Our financial situation is greatly improved. Twp years ago assignments on the revenue, to the amount of 4,500,000 riz•dollars, were issued, and only about 1,184,725 are now in circulation, which the Prnsaian Government will forthwith call in. Asa new proof of the improvement, our treasury billh which had 'fallen 50 per cent. are now above 84. to renounce Saxony.. From what we Uwe.' Ikea 1.1 I propositions contain as fellows : Ast. Prussia will recover those parte '-if:44lt . following onearly the course of the Warthalow4l446 *erii thicwas dse Pilergka). ft.;Malf of Lusatia, or Lower Lusatia, compre hending Wittenberg, and the Bailliages of Thuringen. S. All the district between the Meuse, the Moselle, the Rhine, and the frontiers of France, i. e. the whole department of the Roer. 4. The countries on this side of the Rhine, with their appendages, enclaveautu. These countries, by adding the States which, in virtue of the Peace of Tilsit, were left with Prussia and the German pro vinces which she has reconquered, will give her the population of nine millions, which she had' in 1805. But, without taking into consideration that this popula tion does not form the 12 millions which were promised to her in her quality of a Continental Power of Eu rope, Prussia maintains that the Polish Provinces which she has lost were fertile ; whereas those which she is to receive on this side of the Rhine are distant and uncultivated. She insists, therefore, that Sunny shall be given as an indemnity fir her Polish posses. sions ; but at . all events, she insists on the greater part of Saxony ; and finally, she adds, that she can not conceive what good can result from a little king dom being established between the Elbe, the Forge• bing, and the Seale. Notwithstanding all these obstacles. it is gene rally hoped twat things will take a favourable turn, and that Austria and Prussia will come to a better understanding. These hopes are strengthened by other political considerations of great weight, which are developed in the Note which Austria gave in on the 10th of December last. From the official dccurnents on the American li• nances, which we this day lay before our Readers, it will be seen that theii Government might be consi dered as absolutely in a state of Bankruptcy. The different plans which had been proposed for recruiting their finances, had all been found impracticable, and for the painest reason—the People bad lost all con fidence in their Rulers. The Peace, therefore, may be considered as the most happy circumstance that could have occurred to them. Let us hope that the hair-breadth escape which they have had, though.it may not induce sentiments of cordial conciliation to wards those whom they attempted to destroy, will at least serve as a lesson not to be h4sty again to draw the sword in an unjust cause. _ _ But, though the war may be considered as termi nated and hostilities near a close, this country ought, from circumstances to which it has given birth, to keep a jealous and watchful eye upon the American Navy. The success which their diminutive Naval force has had, we shall not be disposed to view as a real evil to this county if it shall be found to produce' its proper effect upon our own arrangements. Not withstanding the poverty of the American Treasury, they have contrived not to stint or starve, in the smallest degree, their naval equipments. From this their future line of policy may be considered a s already proclaimed to the world ; and what we t to be ours is manifest. Whatever the Americo Ad miralty lay ONE heel up•a the slips on the Lairs, he oar: lay down TWO, and of :ulterior force I It peace we may thus carry on with each other a war of finance ; and, if we persevere, America may give up the con test. If not, and we pursue a different system from what we have just recommended, America will go to war as soon as she has acquired a commanding preponderance on the Lakes, and Cicada will be wrested from our Empire. LETTER FROM TUE CHAIRMAN 01 A COMMITTOX Of CONGRESS, TO MR. DALLAS. WAIRIO7oN, Nov. 27, 1814. SlR—The Committee of the House of Representa tives, to which the Bank Bill was recommitted on Friday last, have directed me to request you to com municate your opinion in relation to the effect which a considerable issue of Treasury Notes (to which should be attached the quality of being receivable in subscription to the Bank) might have upon the credit of the Government, and particularly on the prospects of a Loan for 1815. As the Bill, as it was referred to the Committee, provides for the subscription of 44 millions of Treasury Notes to form with sir millions of specie, the capital of" the Bank, any information"' which you may think proper to give, either in rela-, don to the practicability of getting them into circula tion without depreciation, or in regard to their opera. 'tiOß on any part of our fiscal system afterwards, will be very acceptable. . I am, Sir, very respectfully, Your °bathetic savant, (Signed) WILLIA LOWNDIS. To the Hes. tbe &strawy the Treasury. • ANSWER OF MR. DALLAS, Thum Dirt'inento Nev. 117, 1114. Sza—l have the honoor to acknowledge the receipt of your letter, requesting for a Committee of the House of Representatives, an opinion upon the fol. , lowing inquiries : Ist. The effect which. canciderable issue of Treasury Notes, with the quality of being reeeividge Is nbscriptions tea National Daub, will have upon the credit of the Government; mid part'. thinly spots the prospect of a Lean for ISIS. The practicability of getting forty-four mlllialmf Taw eery Notes, (forming with ai; mWNoe et spesik • die for National Sank), late cirenkden widest depaidadens Thp isiciiries of ;be Committee calm; be eathfac torily answered in the abstract j betatastbeeoatidered in connqiors 'sr4t4 the state of our ihtatkee liat4be' ' state of oar public credit. . . . - • . 4 . . When I wised at 'Washington the Tret!eamir! suffering under every kind -of -embarastnenr. The' 'demands upon it were great in amount, while the Gleans td satisfy diem were comparatively small I pre 4atious in the collection and difficult in the application. The demands consisted of dividends upon the old had new funded debt, of treasury notes, and of legis lative appropriations for the army, the navy, and the current service—all urgent and important. The means consisted, first, of the fragment of an authority to borrow money, when nobody was disposed to lend, and to issue treasury notes, which none but necessi tous creditors, or contractors in districts, or commis. writes, quarter-masters, and navy agents, acting as it were officially, seemed willing to accept : second, if the amount of Bank credit scattered throughout the United States, and principally in the Southern and Western banks, which had been rendered in a degree useless, by the stoppage of payments in specie, and the consequent impracticability of transferring the Public Funds from one place to meet the public en gagements in another place : and third, of the current supply of money from the imports, from internal du, ties, and from the sales of public land, which ceased to be a foundation of any rational estimate or reserve, to provide even for the dividends on the funded debt, when it was found that the Treasury notes (only re. quiring, indeed, a last payment at the distance of a year) to whomsoever they were issued at the Trea sury, and almost as soon as they were issued - reached the hands of the Collectors, in payment of debt, du ties, and taxes; thus disappointing and defeating the only remaining expectation of productive revenue. Under these circumstances, which I had the ho nour of communicating to the Committee of Ways and Means, it became the duty of this department to endeavour to remove the immediate pressure from the Treasury : to endeavour to restore the public credit ; and to endeavour to provide for the expenses of the ensuing year. The only measures that seemed to my mind for the accomplishment of such important objects have been presented to the view of Congress. The Act authorising the receipt of Treasury Notes in payment of subscriptions to a Public Loan was passed. too late, I fear, to answer the purpose for which it was designed. It promises at this time little relief, either as an instrument to raise money, or to absorb the claim for Treasury Notes, which are daily becoming due. From this cause, and from other ohs ious causes, the dividend upon the funded debt has not been punctually paid : a large amount of Treasury Notes has already been dishonoured, and the hope of preventing further injury and reproach, in transmit. ting the business of the Treasury, is too visionary to afford a moment's consolation. ' The actual condition of the treasury thus deicribed, will serve to indicate the state of the public credit, Public credit &paid, aaaantiAlly upon public opiolan. The usual test of public credit is, indeed, the value of the public debt. The faculty of borrowing money is not a test of public credit; for a faithless Govern ment, like a desperate individual, has only to increase the premium according to the exigency, in order to secure a loan. Thus public opinion manifested in every form and in every direction, hardly permits us at the present juncture to speak of the existence of public credit, and yet it is not impossible that the Government, in the resources of its patronage and its pledges, might find the means of tempting the rich and the avaricious to supply its immediate wants. But when the wants of to-day are supplied, what is the new expedient that shall supply the wants of to. morrow ? If it is now a charter of incorporation, it may then be a grant of land ; but, after all, the im measurable tracks of the western wilds, would be ex. haunted in successive efforts to obtain pecuniary aids, and still leave the Government necessitous, unless the foundations of public credit were re-established and maintained. In the measures, therefore, which it has been my duty to suggest, I have endeavoured to introduce a permanent plan for reviving the public credit; of which the facility of borrowing money in anticipation of settled and productive rivenues, is only an inci dent, although it is an incident as desirable as the plan itself. The audios seemed to embrace whatever was requisite, to leave no doubt upon the power and the disposition of the Government in relation to its pecuniary engagements, to diminish and not to ang. went the amount of the public debt in the hands of ' individuals, and to create general confidence, rather by the manner of treating disclaims tithe present class of creditors, than by the manner of conciliating the favour of a new class. With these explanatory remarks, Sir, I proceed to answer, specifically, the questions which you have proposed Ist. I am of opinion, that a considerable issue of 'Treasury notes, with the quality of being receivable In subscriptions - to a national Bank, will have an in. jurious effect upon the credit of the Government, and also upon the prospects of a loan for 1815. Because it will confer, gratuitously, an advantage upon a class of new creditors, over the present credi tors of the Government, standing on a footing of at inset equal Merit, Because it will excite general dissatisfaction among :the present .holders of the public debt, and general l elistrout auutigg the capitalists, who are accustomed to gedeattee the sew to the Guiernment. Because, a quality of subeaibing to the natio* Bank attackd to Tatum notes exclusively, will Mod to del/Wilhelm velueof i 1 rblic debt sotto*. • • seising that quality ; and whatever depreciates value of the public delft, in this way, must necessal impair the public credit. Because, the specie capital of the citizens of t! ,, United States, so far as it may be deemed applicabl, to investment in the public stocks, has already, in great measure, been so vested ; the holders of the present debt will be unable to become subscribers tr. the bank (if that object should eventually prove 4- sirable) without selling their stock at a depreciaze; rate, in order to procure the whole amount of the: subscriptions in treasury notes ; and a general depres sion in the value of the public debt will inevitsibl , ensue. Because, the very proposition of making a ccns derable issue of Treasury Notes, even with the ( - I+ lity of being subscribed to a National Bank, can on., be regarded as an experiment, on hich it seems gerous to rely ; the Treasury Notes must be pu: chased at par, with money : a new sect of credit:.r. are to bs created ; it may or it may net be decrty.i .an object of speculation by the money-holders, to sui, setibe to the Bank ; the result of the experiment can. not be ascertained, until it will be too hue to provi& a remedy in case of failure, while the credit of the Go• xernment will be effected by every circumstance whit' keeps the efficacy of its fiscal operations in suspense , or doubt. Because 'the prospect of a loan for the year 181 without the aid of a bank. is faint and uapromitirg ; except. perhaps, so far as the pledge of a specific tax may succeed ; and then it must be recollected that a considerable supply of money will be required fur the prosecution of the war. beyond the whole amount of the taxes to be levied. Because if the Loan for the year IBlshe made to depend upon she issue of Treasury notes subscribed to the National Bat*, it will probably fail, for the reasons which have already been suggested ; and i: the loan be independent of that operation, a conside. sable issue of Treasury notes, for the purpose et creating a Bank capital, must, it is believed, depriv the Government of every chance of raising money in any other manner. 2d. I am of opinion, that it will be extremely dial. cult if not impracticable, to get 44 millions of Toa. sury notes (forming with six millions of specie, th e capital of a•national bank) into circulation, with e: without depreciation. Because if the subscription to the Bank becomes object of speculation, the Treasury note will probably be purchased at the Treasury and at the Loan ollices• and never pass into circulation at all. Because whatever portion of the Treasury notes might pass into circulation, would be speedily with• drawn by the speculators in the subscription to the Bank, after arts had been employed to depreciate their value. Becaose it is not believed that in the plesent state of the public credit, 44 millions of Treasury notee can be sent into circulation. The only difference be tween the Treasury notes now issued, and dishonouted, consists in the subscribable quality ; but reasons have been already assigned for an opinion, that this differ. ence does not afford such confidence in the experiment, as seems requisite to justify a reliance upon it, for ac• cemplishing some of the most interesting objects of the Government. I must beg you, Sir, to pardon the haste with which I have written these general answers to 'cut enquiries. But knowing the importance of time, am: feeling a desire to avoid every appearance of contri• bating to the loss of a moment, I have chosen rather to rest upon the intelligence and candour of the Com• mittee, than to enter upon a more laboured investiga don of the subject referred to me. I have the ho. none to be, very respectfully, Sir, your most obedient servant, (Signed) A. J. DALLAS. William Lowudes, Esq. Maisano, Sm. A Gentleman, who came passenger on board one of the vessels that lately arrived at the Teed fror Philadelphia, is arrived in town. He sailed Iron thence on the 15th ult. and states, that the Americat frigates which sailed at the time of his departure, bay lIISMICtIOIIS to cruise in different latitudes, and not to form a junction at a certain destination, as stated b: some of the Papers. The Guestiere, Commodot Roasns, had not sailed when be left Philadelphia but was hourly expected to leave the port. Four American vessels have arrived at the port t) Alicant, from different ports of America. The Duke of YORK yesterday transacted busines at his Office in the Hone Guards, but did not hold ;•• Levee. . The Duke of MONTAN/ entertained a select pare to dinner yesterday, at his house in Grosvenor.square The Sealant AMBASSADOR had a party to dinne yesterday, at his house in Portland-place. The Dowager Countess of ESSEX had a fashionabl party yesterday evening. at her house in Curzon street, Mayfair. The Earl and Countess of BRIBOROUOK. the DOW ger Countess of SRAFTSBURY, and the lion. WILLIAD and Lady BARBARA PONSONBY, have arrived at Mar seilles, where they intend to remain for some time. Yesterday as some labourers were digging in a beiek.field, near Clapton, they discovered a stair coan, and on removing the lid, a skeleton was found but in a state of complete decay. for the greater par , aambland away when touched. There was no in senipdob whatever and no mark by which the na me tank of the deceased can be ascertained.. The . 41 1 111 is 9f granite, ten inches thick, and it was found aqsarter of a mile from the banks of the river Lea • There is ne burial place o'er the spot. 4 011111 M t: f VIENNA, JANUARY 12. Saxony and Poland are still the topics of discus • }ion. The Luc of Poland, which had caused so many difficulties; is nearly decided, thanks to the efforts of the Committee, which, since the end of December, 'has been occupied with this important object. Russia, .which seems to wish to extend her power so the en virons of Vienna and Berlin, his retrenched her limits towards Warsaw. Poland ought to form under the influence of Russia, a particular constitutional State of middling size, which will comprehend on the east ward the two banks of the Vistula to the Bug and Niemen, and on the writ to the city of Cracow. Russia has already consented to cede to Prussii a population of a millien and 85,000 in South and West Prussia. We are also assured that she has re stored to Austria the Circle of Fernopol, in Eastern Galicia, which is of se great importance to the com• merce of this Empire, and almost all the ports of Western Gallicia on the right bank of the Vistula, with the exception of ttacow.• According to some, this last city has been ceded by Austria ; others as sert, that it will be steels*, a free city. Austria ought to have renounced the greater part of Western Gal licia, cf . at least the part situated on the left bank of Vlltpla, as well as the other districts which are, Jitpittopilocif VirallaTz• • Atli* ends of she negoeiations relative to Poland, new propositions were wade to Prussia to engage her amiargamimialimaaaammeabrimilliMalliglifilaw