Star. — London, England, 1825-03-17 00:00:00

R 7 N C *4 k • '- they said frothing of expenses, and even that sum woto not give them a tolerable profit. Let, however, the turns be judged from the former Pasco project. In 18. a Draining Company was established to a-sist in tl working of these mines, and 11.0001. was advanced the house of Dabois, of London, to pus chase steal engines, to carry the .objects of the Company into effect. Four engines .. were accordingly purchased, and two of thenm after great delay. Land atifteutties, erected.• Upon that occasion the Governor of Jansat wade a report of the undertaking in the most flattering terms and pmgnosticatea that the consecinence must be the diffusion nt wealth and happiness over the whole conntr). But what was the event ? That the whole of those employed died, and that the project totally f•olial. The English miners who were sent out sunk under the climate,and of £170,000 which was expended, not a shilling of return ever came to hand. The parties connected lost all their property, and the shares that were given to the house of Dubois and Co. after having been sold at a vast price became valueless. Some of those £9O shares rose to £1,400; and others, originally sold for 10 dollars or 45 shillings advanced to £lOO. 'from which they 'fell to nothing. The sale too, on which this speculation was founded, D JuanVivez never ra tified—on the contrary, in the teeth of that contract, and while the proven!, was under confiscation, he again sold it to tht present Company ! The mines, therefore, in point of fact, belonged to the old Company, and by that Company he (Mr. lobhouse) has been assuted that they wall use every means to recover their rights. Such indeed has been the effect of this annunciation, that one of 'the original shares was lately sent into the market, and hid for at a very high rate. To give some idea of the difficulties of mining in the Pasco districts, he might mention that when the tv:o steam-engines already no ticed were erected, it took three thousand mules and four thousand Indians to carry them us the place where they were erected, and even thus the task was only ac complished at the instance of the Governor of Jamar and the arvernor ol Callan, who were concerned in the undertaking, and compelled the people to lend them assistance. It was said by the present Company, that the mines were to he worked by Europeans, but M. He lenio, who was sent out as First Assayer from Madrid, in the year 1754. stated, that no European was able to undergo tl e fatigue—that they became sick and died. A Physician, a fii.!nd of his (Mr. Hobhouse's) who had lately returned from thence, assured him that the altera tion of the air was so great, as to render it impossible to sleep.-..- The ascent, besides, was so rapidithat although the Mining district was only distant fifty-six leagues front Callao and Lima, it took the carriers sixteen days to proceed thither from either of those towns, and thirteen days to worn. The mines could no longer be worked as tl:ey , used to be. They must now be worked by free labour, and that cost two dollars a day for each Indian. He did not mean to deny that the (grown of Spain drew large sums of money from them formerly, !put then Spain did not care who suf fered for her gain. Parliament, however, ought to care who suf. fered, in order that this Company should gain. He concluded by moving that this Bill be read a second time that day six months. Mr. F. BUXTON said, he should be able to chew that tha speech of the Honourable Gentleman was one plot of a deep laid scheme for depressing the value of shares in these mines. When the shares of these mines were first open to the Public, the first calumny propa gated was, that these were no mines in existence of the stat ire described. One day, however, was the full ex tent of this falsehood ; since proof to demonstration was submitted in answer to it. The next was as to the state of the mines, and this had been repeated by the Hon. Member for Westminster, who declared that the utmost delusion prevailed upon that point. Now in answer to this he would quote the authority of Baron Humboldt, who said that the Mines of Pasco were the worst worked of any belonging to the Spanish Crown; yet they af forded two millions of dollars annually, and from the years 1792 to 1801, produced no less than 20 millions. This view had been since confirmed by a very respect able Gentleman, who was Secretary to the Mexican Embassy. There was, however, another circumstance in confirmation, which had come to his knowledge only since the commencement of the debate. The son of the Honourable and gallant Member for Southwark, was Aide-de Camp to Bolivar, and the Honourable Member had Jbst put into his hands a letter received from him, in which he said 66 it is to my surprise strictly true, that silver here is in such quantities, that the meanest uten sils of the peasantry are made of that metal" (A laugh). He assured the House that he had received the letter from his Honourable Friend, and that neither the writer nor himself were interested in this question—( Hear): — The writer went on to say, that for a few shells, or any thing which the peasantry valued, such as knives, he could obtain several pounds weight of silver; but such was the inconvenience and expense of carriage, it would not be a profitable exchange. The Honourable Mem ber for Westminster, had also told them that there was no population in the neighbourhood of the mines. It so happened that intelligence had been received from an English Major,whn was on the spot with 4,000 troops, and who stated that he bad seen in one town 4,000 in habitants. The Honourable Member next told them that these were no coals in the country, and had al so repudiated their title ; but he was convinced that a full and valid title would be made out to the satisfaction of the house in a Committee. Neither could he see that deceit and bubble upon the public which the Honour ahle Member attempted to wake out from the terms of the prospectus. He would now take leave to turn to the other side of the question, having disposed of these as persions. The lion. Member had mentioned the name of Duboss--and he (Mr. B) w ould tet him into the secret of that person's conoexion with the concern. He was o iginally the most anxious to become a shateholder. But the Gentlemen at the head of the speculation being men of high character, did not wish to associate Mr. Dubois with the undertakiro. Immediately upon their retusal came nut all the fa lsehoods of which he coin planted. [The Hon. Member here made some state ments relating to the particular conduct of this indi vidual, which we abstain from putting in print.) The Diiectors, conscious of their °an honour, and the sub stantial value nt the shares, did not think fit to accept the proposal. of Ms. Dubois. ill was ruse the Hon. :'!umber for Westminster would join him in repro. bating the conduct of that man, who, from base and in txrested motives, engaged in a scheme to deceive him, the public, and the House of Commons. Mr. HUDSON GURNEY said, it was not worthy Of the House of Commons to press down one Company in contradistinction to another. As the object of the Biil was only to enable the Company to sue and be sued, like other incorporated Companies, vrhy.should it • be resisted? If others got this right, be saloon) reason for refusing • It4t. this Company. Mr.t. WILSON thought that she Hon. Member for West:biomes- did . not seem to know much about the nuttier. 11 . 114 i had certainly distorted the facts of the case. lije spoke of the bisectors sellin g th e w h o l e o f t h e i r 4ales. 'rise truth was, that each birectOr retained a • • \ • . 3 than nr irn climate. But - and he unenaces of the Si: F. BURDETT declared that the Pasco Mining scheme was, in his opinion, utterly hopeless and 'delu sive. The only object generally of these schemes was, to get shares into the market, of which to make a cer tain profit to the loss of the public. He thought it full time that some legislative provision should be made to secute the public against the effects of these bubbles. A high judicial character had given notice that he would employ his talents for the attainment of some means to check the evil; and he sincerely wished him success. The project appeared to him in every point of view Is which it could present itself a bubble, and nothing else. He hoped the Bill would trot pus. Mr. LOCKHART said, the House should be aware in granting Bills to such parties they were themselves assisting in the delusion practised upon the public. As to these Pasco Peruvian Mines, in a country where I.ilver was so plentiful that the very spade and pickaxe of the labourer was made of that material, be confessed be had no faith in them whatever. Mr. BARING thought, that if the House were to listen to the advice of the Honourable Member (Mr. Lockhart) they would be placed in a singular situation, for then it would appear that as they refused to give their sanction to this measure, because they could not examine it, the other Bills, of a similar nature, which had been passed, would, by implication, appear to have received that sanction. He agreed with the Honourable, Member for Westminster in regretting the great extent to which speculation bad been carried; destroying the ancient character of our Merchants, and demoralizing the Royal Exchange. Everything appeared to give way to the system of gambling, from one part of the country to another, at once. The Merchants seeing gambling-houses set up at the West end of the town, they proceeded to make a gambling-house of the Royal Exchange, with the difference only of keeping better hours. He (Mr. Bating) was acquainted with one of the pt incipal promoters of this Company, and he would say, that a more honourable man could not exist ; but that did not alter his opinion of this or other Mining speculations, many of which, he was persuaded, would turn out unfortunately, and the people would lose their capital. The mistake was, a people supposing that by their junction in such speculations, more activity would be infused into them than had hitherto been the case, not conceiving that though the native Government might be inactive, the Mines possibly had been worked in the hest manner. He would instance the Austrian Government, yet there were no Mines worked with more skill than the Gold Mines of Hungary. No per son could be more convinced than be was, that many of these schemes would be attended with great disap pointment; yet the present was, at least, as promising as any other-4t had, at all events, something of reality in it. It appeared that these Mines had been worked for years, and there was a return of the precious metals which had been raked there. The arguments of the Honourable Member for Westminster had not made any impression on his (Mr. Raring's) mind; he thought that the Honourable Member had been deluded by a person who is interested in crying down this Company. Mr. CALCRAFT said, that the argument of the Honourable Member for Taunton was this, that as the House had given its sanction already to bubbles, they therefore ought to let this Bill pass also. He differed with him as to the value of the Parliamentary sanction; it was,.in fact, as his Honourable Friend well knew, a bonus, for the instant the Bill passed the shares rose •in price; what the applicants for the Bill wanted, was to make money of the shares, and to leave the mining to those in whose hands the shares might ultimately come. He would take his stand here, and oppose all such Bills, from which no public benefit was likely to accrue, aid leave trade to its own free and unbiassed exertions. Mr. ELLICE said, he had been applied to to take a pan in the Company, but he had refused on motives of prudence personal to himself. He hoped his Honour able Friend (Mr. Hobhouse) would allow the Bill to go into a Committee, as he would have an opportunity of taking the sense of the House on the third reading. He had stated what his refusal to belong to this Company arose from; but he thought the speculation as promising as any of the others. Mr. ATTWOOD considered, and indeed history proved it, that all the speculations by which the country had derived wealth and honour, had been the produce of Joint Stock Companies. This was the case with all the canals and bridges in the country, and indeed with all great public works, which had not a political ob ject. Such for instance as docks for our navy, and such like; these were the work of Government, and so was the Caledonian Canal, which was for a political pur pose. With regard to this Bill, he thought the House Might to grant them what they asked, which was nothing more than to place them in a situation of legal ability, to transact the bu siness for which they associated. Mr. ROBERTSON opposed the Bill. He was con vinced that the whole scheme would turn out to be a delusion. It seemed to be entirely forgotten, that the Mexicans would not part with a certain value without an adequate return. Mr; Alderman BRIDGES defended the conduct of the Directors of the Company. Mr. HOUR OUSE said he should not divide the House its the state it was then in, but reserve his final opposition to a later stage of the Bill.—The Bill was then read a second time. Mr. LA MBTON presented a Petition from the town of Cnve, in Ireland, in favour of the Catholic Association.—Laid on the table. Colonel BAG WELL presented a Petition from Westport, in favour of the County Banks.—Laid on the table. Mr. BRIGHT obtained leave to bring in a Bill to make per petual the Act relating to vexatious Arrests. =--- hundred shares for himself, an • anything were uld ing to prove that this was a a fole transactil re- dieb pa this woulhi supply siefFiency. If r 314 was any übion , it as strag Gleam gler Director: the on th e pit lc.' Thotymli, point tha;hoef made an by motion ups h Oki w* the utsbealthigetilt Of the climate irn- some of the Directors 'hitt.more tholt a hundred shares; believed would continue to do so in spite of the.anuaces nt? Hon. Member for Nekirminster. -r --- ELECTIONS. Mr. HORACE TWISS moved the second reading of the Assessors at Elections Bill. Mr. ELLIS wished the Honourable Member would postpone this measure, until the H9se was in a fitter state to entertain it. He knew many Honourable Members had a strong objection to ft, who were now absent. After sone further conversation between Mr. BRIGHT, Mr. Holum' Twin, Mr.Husss, and Lord Emmet's:ow, the seeonalread ing of the Bill was postponed till after Easter. The other Orders of the Day were then disposed of, and the House adjourned at Nine o'Cloek. Lord Somata:, has now three Bills before the House of Lords I. " To declare illegal the setting of spring guns, &c. to preserve game"-2. "To declare unlawful the setting of spring guns in garden, nuisery, and other grounds"—and 3. " To make the felonious taking of vegetable productions larceny." Lord Lt vraroor.'s amendment, on Tuesday evening, on the first Bill, was to insert after the word " underwoods," the words " or gardens, or any place whatsoevet."— The division on it was—Contents 29—Non Contents 5 —Carried by a majority of 24. The innkeepers of Maidstone have reduced the price of wine as follows:—Sherry to 45.6 d. per bottle; Pert to 4s. The pint and half pint in proportion. • 4. STOCK EXCHANGE, TWELVR O'CLOCK. Consols opened this morning at 951 to g for the Account, with hub doing. FOREIGN FUNDS. . . In the Foreign Market there was an improvement in. Pasco Shares, owing it is supposed to the speech, of Mr. Bianca in the House of Commons last night : they opened at 87, all other kinds of s hares remain steady. Current Prices: New Spanish TO, Old ditto 253, Russian 98, 1 Mexican 801 81,Colombian New 90 89, Chill= 901, Austrian MI, Brazilian Scrip 21 3 pm. Mexican Scrip 23 1, Greek Scrip 41 1 dise.l PRICE OF STOCKS AT ONE O'CLOCK. S per Cent. Cons. 9314 14 $/ 8 4 per Cent. New 106 1 4 £l.OOO Excheq. Bills 54 55 53 £5OO ditto .53 56 £lOO and £2oo4itto 53 56 India for Acct. 281 Cons. for Acct. 93$ 1 4 5 4 FOREIGN FUNDS, TWO O'CLOCK. Mex. Bonds, 5 per Ct. 80; Ditto Scrip 1825, 2j pm. Ditto Acct. 2j ; ; prem Neapigitan Bonds, 5 per Ct. 921 Peruv. Bonds, 6 per Ct. 87; . Ditto Acct. 87/ Portuguese Bonds 901 Ditto Ace. 901 Prussian Bonds, .1 per Ct. 1011 Ditto 1822, 1001 Ruus.Bonds,lB22, 6 p. Ct. 951 4 1 Ditto Acct. 951 Spanish 6 p. Ct. Cons. 251 Ditto for Acc. 251 Span. 5 p.Ct C. 1823, 20 Ditto Am 20 French Rentes, S per Ct. SHARES, TWO O'CLOCK. MINES. fitE EVENING i,. 1C P7 7 14 " ~• - *-- ... . ~. W a il ji l i '• f i'' ., . THURSDAis' MA , • •1895 " '•1 ~, o ' Austrian Bonds 5 per Ct. 98 71 Ditto Acc. Brazilian Bonds Ditto Scrip 1825 Ditto Ace. Buenos Ayres Bonds, 914 Chilian Bonds, 6 p CL 91 Ditto Acc. Colombian Bonds, 6 p Ct. 99 Ditto Bonds 1824, 91 Ditto Acc. 91 901 11 • Danish Bonds, 5 per Ct. 101 Ditto Marks Bance Greek Bonds 52 4 13 23 . Ditto Acct. 511 Ditto Scrip 1825, 4131 dis Ditto Acct. 43 54 dis. BRITISH AND FOREIGN • 40 - 20 • IMAM PAID. /WC! P$ SNARL £lOO .Xl5- if& 45 pm. J2llO 112 i - - 100- 5- - 20 # - 100 5 - 19 e - 50 • 4- - . 10 91 - 100- 5- .28 314 29 I Prem . 2 pm. • - 35 36 • $1 PUCE rill MARL XI 91 19 Anglo Mexican - Paseo Peruvisn Royal Irish United MesiciA Dkco New - 40 - 5 - Wskb Iroe & Coal - 25 - 5 - ASSURANCE COMPANIES. SBA 114 Pal& All. Brit. For. Fire St Life .ElOO -.CIO Do. Marine - 100 - b - IRON RAILWAYS. London and Noratent - 100 - 1 - MISCELLANEOUS. MAXI. PAID. min m MARL seloo ICIO ..ell 1.0 11 Atlantic and Pacific Br~dth Iron Company - 100 - 5 10 9110 Bristol Ship Canal - - 1 - 11 * Canal Gas Engine - 50 1 2* 2 Colombian Agricultural Comp. 100 5 191 Hibernian Joint Stock Company - - 51 pm. Mediterranean Lime and Coke I 5 1 ketliterranean Steam 100 5 - Mexican Company 100 10 17 Metropolitan Fish Company U 1 2 Pearl Fishery .035 sh. £2 pd. iss. £lO pm. 201 81; Provincial Bank of Irebnd 100 12k 1 I Patent Steam Carriage IS 2 10 31 41 Pearl and Coral Fishery 4 8 9 8 10 Royal Stannary . b 41 5 There have been few measures of greater importance submitted to the consideration of Parliament, during the present Session, than the Bill presented the night before last by Sir Geonne HILL, having for its object the legalizing of the establishment of Banks on the Joint Stock principle in Ireland. Mr. DAWSON, in a speech of great force of argu ment, stated the advantages likely to result from this measure : and an unanimous feeling was expressed by the House of its probable benefit to the state of Ireland. For our own part we anticipate that a most favourable change in the whole state of the sister country will be produced by this measure. The want of capital in Ire land, has been deeply felt by all the several interests on which the welfare of a nation depends, and this evil will be effectually removed, by the means which the in tended measure will afford of extending the circulation of the surplus capital of England to Irish objects. It is a remarkable fact, that while in England there are five hundred and thirty private Banks, and in Scot land a hundred and twenty-eight, there are not in Ireland more than ten private banking establishments ; and that while the Bank of England, and the National Banks of Scotland, lend the greatest facilities to trade and fair commercial enterprise, by the liberality of their ad vances, and the principles upon which all their engage ments are conducted, the autk of Ireland appears, by its injudicious measures, rather to have added to than relieved the national distress. The failure of some the private Banks in the south and south-west of Ireland, appears to bays destroyed the confideace of the people in any establishments of this na ture, which feeling -in the people has naturally de terred private individuals from attempting the forma tion of any new private Banks. It appears to us, therefore, that the establishment of Banks on the Joint Stock principle, in all the principal towns of Ireland, is the only mode left by which the benefit of a large capital can be directed to all parts of that kingdom ; and, viewing Ireland, as we do, as a fertile source of future benefit to the empire at large, when its resources shall be properly called into action, we cannot but hope that the present measure may be the means by which that object may be effected; and that before many months expire, we may witness the extraordinary prci sperity which now exists in this part of the empire, ex tend itself with rapid strides through that most inte resting part of the United Kingdom. Last night, the Pico Peruvian Mining Bill was read a first time in the House of Commons, after a pretty lull discussion of its met its. We are glad of this, for with the exception of the pamphlet of Sir WILLIAM ADAMS on the Mexican Mines, the Public have little means of judging of the relative merits of the several Mines in South America. Sir WILLIAM has with great industry villected a great, body of information on the subject, and the prospects the Mines offer, when worked with ILitiat skill and British machinery. We have received the French Papers of Tuesdaj',with the Etoile of yesterday, but they contain no news. The French Rentes, on Tuesday, at three o'clock, were 10Sf. 7c. for time. Accounts from Batavia of SOth October state r that the -Dutch frigate Eurydice, Captain WARIMINICRO, Aside the transports Emelia and Merkur, sailed on the. fish for Macassar, with 400 men, to reinforce the garrison of that establishment, under the command of Colonel B 'seltzer, who will direct the military operation; there It appears, by the latest accounts from Macassar, that the Bcniers, who for some time had remained in a hostile attitude on the frontiers, encouraed.by the per. rnanent opposition of SORPA, had entered the territory of the Government' only a few days atter the departure of the Eurydice from the Roads of Macassar, withcnt any declaration of war, and had attacked the Regain of Simbang and Tynrana, which had obliged the Go vernor of Macassar to ask assistance of the KING of Goah (or Macassar). The Bonier: marched with a numerous army against Punkajene, where Lieutenant GRUNWALD occupied a strong position with SO naiives. While he was bravely defending' himself in this position, his little powder magazine' caught fire, and the whole• post' walP-de stroyecl. BARON, the resident, who exercised the . civk authority, had the •good fortune to escape from the In surgents by putting to sea in a boar. The Second -Lieutenant, GILLIAM, who occupied Lebakkang with '25 men, was oblige) to fall hack be fore the enemy; who attacked him, and were joined by the inhabitints'of the country, on whoin he depended to defend himself. • The band of insurgents having arrived at T..nette, restored the old KING to his authority. The detach ment of forty-five men and two )Officers which was at that point, not-being able to resist them, hacheturried to Macassar, on board the Nautilus brig. The enemy had reached the heights of Boeloe Lepong, but Major WACHS having marched against them with 120 men, and four field•pieces, they retired to Leang. Leang and Semangie. Boelecomha aid Bonthaim had not yet been attacked on the Bth October, but the Boniers threatened to come to those places with a con. siderable force. It appears that the scarcity caused by the b.ld harvest in the Kingdom of the Bonier', had enabled thtt Go vernment to levy a considerable army, which hoped to find provisions in the Batavian ten itory, in which it has already succeeded, on the side of Mares. • • It had been thought advisable not toscatter the.troops two Much, 'in order to avoid diseases,'and to..be Ale to meet those bands; and measures me laking to- drive them from the Dutch territory. This forenoon we . received German Papers to the II th inst. The dligerneirreZeitusg contains the follow ing account of the recent disturbances in the. Turkish capital : CONSTANTINOPLE. 'FEBRUARY to. The capital has been lately a scene of •disdrder • , its which, however, neither Greeks nor Franks took any part. According to the discoveries made by the police, which led to the arrest of several individuals, it appeirs that four Ones of the Janissaries had been seduced to tumultuous proceedings. Seidschik Mnstapha, Astro. loger to the Sultan, Abdir Aga, and several superior Officers of the Janissaries, acted a principal part. The Grand Vizir of the 'Aga of the Janissaries, and the Aga Pacha of Buluckdere, eaerted themselves day and night to prevent a general insurrection against the Sultan himself. A few hours only before the time ap pointed for the explosion, a Janissary of the 2.3 d Orta, who was an accomplice,betrayed the whole plot,and thus gave the Government means to seize the cbiefi •ef Ore conspiracy, viz. Seidschik Mustapha , Abdir Aga, and several Officers of the Janisiaries. They have beew de livered up to the Bostangi Baschi, and having confessed their crimes on the rack, have been strangled,. seiFh 'SO other persons. Many suspected Officers of the four.re. bellious Ortas were conveyed on board the fleet; and worse consequences thus prevented. Meantime, the great severity of the Aga had caused great. discoletent among all the Janissaries, which has probably induced the Sultan to remove him yesterday, and to give bis post to the Commander of the .59th Orta. • . During these commotion; orders were given for All tbe principal inhabitants r arm themselves and their servants, to keep the rioters in awe. We have since heard that the well known Ghia) Pacba has been .ba nished from Galipoli to Adani ; but this seems to be only a precaution, as the people, the Janissaries, and the Ulemas, are in general very favourably disposed to. wards him. He is thought incapable of taking part in plots against the Sultan. Private letters from Demerara, of the 26th Janury, mention circumstances of rather an alarming nature. It awns that a few nights prior to the above date, all the houses occupied by the Government negroes be yond Camp House, had been destroyed by fire, and t hat there was every reason to believe the destruction had been effected by incendiaries. It is rather a cu rious coincidence that the evening of the conflagration was the anniversary of the proclamation of Martial Law in the Colony. In addition to the above alarming intelligence, information had reached the Goveittor that about one hundred 01 the negroes of Plantation Kitty had been discovered armed with wed it was therefore feted some plot was organising. This.in. formation had caused the Goiernor to dispittch a party of the 27th Regiment to that district. Business at De merara was tolerably brisk, but the above events bad excited considerable uneasiness. .1 401. . ,!( • 1 rrci the by t to si 'Ow &a C lk r in 'at 1 Wall Valll WI eies rangy yen Ow estal Fin TII Imo undl io era Os, ft Will Eat TWO left 1 mil ma( is d Pert re and the whe thee Mae Affi of : Ind iton *hi Ca *b tim . i ail 4IMO .11 14.1 Ari eOti Sp Pal tee Pr OIL fur and tic nui an( 6 . 11 10