Star. — London, England, 1808-05-14 00:00:00

I I LOST yettetdF si bietretn the Bank and the Bo- AL south, £!5 It ENdLANIi NOTE . Nd. 4701, dated 2 d of Mt,. hoever has fotind the atove and still beng it to Meows. 'Atli Severe, and Co. NO. 11d, Fleet-egret ' shall receive a Reward e Five Guiteas.;—Pirment of the Note is stopped at the Rank. FOREIGN INTELLIGANCA PAR'S, APRIL 58. Froni Algiers the following officialtoft e hai" k • Seen received : • • LL " The measures pursued by the Pei' of A l' iert iiitYards the Europelns beeotne every day more violent: Tfie Die', Baring scarcely the Government in his hands, nbt being "Mired of the idelity of his troops, anti tiro iiie Oonfifittation of his bffice from the Grand Signior, hli Sovereigh,nat being afriVedi end king involved in a blOody Err With the bey of Timis, ih.iughi he might, in spite Of the dIJ cultles of his Situation, lay tiihnte bpois all nations. " On th: 22d inst. ire made a deistaiid Of the Stvedaili, Danish, and Dutch Consuls, that they should bring him their. presents; and he required of the Consul of A.'netica 18,000 double piastres, in order to indemnify him tor the loss of nine.Algerinei taken She an Americas ! vessel. The Consul pretended, that the chew of ihe vessel had thrown the Men overbdard, is they were en the point of being boarded by one of his cruizerr: The Consul of SOreden immediately agreed to the present: " On the 23d, the there Consuls of Denmark, Holland; and America, were sommOned to the Palate. The Consul of Holland raid, he expected instrberiotis front his Governiecnt, and that he cohld not, till he received thote In structions, make any present. On this the Dey caused it td be in ennted to him, that unless he inkintly; on the arrival cithia Ines serer', received his present, he shduld put his children into irons, and send them to labour. " The Consul of America had not yet recei v ed Official tidings of the fact of which the Dey had complained; and thought that he could hot, without the Order of his Government; pay the 18000 etastres. " The Dry answered him, that unleis he shobld pay the ruin within four days, he should cast him in iron% or he most deliver to him nine Americans, whom be would hang up at the Gate of Bab Azouw..., " Mr. Ulri ch, Consul of IN nmark, making a repreaentatkin of the state of his country, said, that the vessel which contained his presents had been seizes: by the English and confiscated, and that the English Agent at. AlgierrXmself would testify this' the Consul solicited time of the Gireernni,:as.: ; but the Del paying nn respect to the character of an Agent, speaking in the name of his master, caused him to be seized by the Of ters of Justice in the inidSt of the Palace, and taken to prison instantly, amidst the shouts df a barbarous populace.., " Those who could enter into this horrid prison saw. this wor thy man more the slaves, in his official dress, and loadiqi with a chain of sixty pounds weight, which Mr. Ulrich bore with forti tude and ersurage : he merely recommended to his friends the rare of his wife and five children. " At length the Dey resolved, on the earnest entreaties of all the European Consuls, to set the Danish Consul at liberty ; arm while he 111 . 33 occupied working with all the slaves; they came and took off his chain. What security it there against the renewal el these acts of vinlence ? " AU the slaves here are teemed with the Most horrid cruelty: 450 Portuguese are shut up in prison. The Court of !Ashes de. layed sending the tribete. The Government has not sent thieve any relief, and they are in extreme wretchednesi. The officers, as. well as sailors, are Condemn'ed to labour and loaded with igno mlny. 4'..eat. number of Neapolitans, also ' staves, are not in a less ittl4ble situai:ol; and the Dey, who expects to conquer . Tunis la i his first camnoign, hOpes ta make a booty of 3000 more European vto'n';e ransom he will fix very high. Since he has been tweed to give up all the slavei, who were subjects of the Erupt-1 ror Napoleon, it seems thathe is resolved to make his system el' robbery press harder i:Pen tae other foreigners." MAY I. The development of the events in Spain, which have drawn the attention of all Europe Upon that Icing - dem, is approaching—and are rejoice that the termination of this great cause is not left to either of the contenriing parties, bitt, on the contrary, to a Mo narch, whose integrity, sagacity, and poWer, render every evil purpose, error, and opposition, inipossubt. It is With joy that vesterday the public.became ac quainted with the following documents, through the Official Paper : Report to his Imperial Highness the Grand butte of Berg, Lieutenant of the Emperor, Commander of his forces in Spain ! " Mg:is F. IC N st; ! Agreeably to the commands of your Im perial Highness, s repaired with the letter of your Highness to the ruien of Etruria, at Aranjuei. It was eight o'cloca in the morn ing; the Queen was still in bed; she rose immediately and bade me enter. I delivered your letter to her. She begged me to wait a little, and said she would go and read it with the king and Queens, Ha fan hO , tr afterwards, I saw the queen of Etruria enter with th.! King and queen 'of Spain. " His Majesty said, that he thanked your Imperial Highness for the share ~ nu sad takenin his affliction, Much was the greater as his own son was the author of it. Tlie King said, thist the re volution had been effected by forgery and corruption, and that the ; principal acto'r's were h.:s son and M. Cabellero, Minister of Ai rice t that be Fad been coinpelled to abdicate the throne, in order to save the lives of himself and his Queen; that Ile knows that bu't., f o r t his they vduld have been murdered in the course of the night; that the conduct of the Prince of Asturias was none shock ing, seeing that himself (the King) having perceived his desire to reign, and being himself near 60 years of age, had agreed to sur render the crown to him on his marriage taking place With a Frenc'S Princess, Which the King ardently desired. " The King added to this, that the Prir4e of the Aituriaa was desirous that he and the Queen anoald repair to Badajoz, oft the froSticts 'of Portugal; that he had round means to inform him that the climate of that county did not suit himthat he begged him to permit his choosing another place ; that he sought to obtain per mission of the Emperor to purchase an estate in France, where he might end his days. The Queen told me she had begged of her eon to postpone their journey to Ftsdajoz ; that she bad not pro cured this, and that the journey was to take place on aft! ensuing Monday. " At the moment I was departing from their Majesties, the King said to me I have written to the Emperor, in Whose hand . I rapise my fate: " I wished to send my letter by a courier, but I know no surer means of sending it than by your's. The King left me then in order to repair to his Cabinet. He soon returned with the fol lowing Letters (Nos. I and 2) in his hand, which he gave me, and added these words—' My situation is most deplorable : they have seized the Prince de la Paz, and will put him to death; he has committed no other crime that that he has at all times been attached to me.' He added, there were no efforlphich he would Oct have attempted to save the hie of his unhappy friend, but that be had freind th.o whole world deaf to his entreaties, and bent on vengeance—that the death of the Prince de la Paz would draw' after it his own, and that he should not survive him. "Aranjucz, March 23,18c8. " B. DE MOUTHION." I.—LETTEIt "TOM KING CARLOS IV. TO THE EMPK. ROR NAPOLEON. " SIP, MT BROTItcp.----Your Majesty willassuredly bear with pain of the events which have taken place at Aranjue't, and their consequences—you will not, without sympathy, lite a King NV lit) has been compelled to resign his throne, throw himself into the arms of a great Monarch hi; ally, placing every thing in Air pro tection, who alone can fir his happiness and that of his whole fatitily, and his rusty and beloved subjects. " Und.r the pressure of the moment, and amid the clashing of weapons, and the cries of a rebellious guard, I found that I had to choose between gay life and death, and that my death would be folowc ti by that of the Queen : I was compelled t• abdicate tile throne—but to-day peace is restored, and full of confidence in the generosity and ter.ius of the Great Man, who has at all times declared himself my friend, I have taken my resolution to resign myself into his hands, and await what he shall resolve on my fate, that of the Queen, and of the Prince de la Paz. " I address myself to your Majesty, and protest against the events which took place at Ackranjuez, and against my dethrone ment. I rely with confidence, and altogether upon the cordiality and friendship of your Majesty, praying that GoD may have you in his holy keeping. " Sir, my Brother, " Your Royal and Imperial Majesty's " Affectionate Brotbtx and Friend, " Aranjuez, March 25,1008. " CARDS'." iio. OrOieft and deeiast, that my Dam of ilk ifok of March, it which I renounce n* Crown is faitat of my son, ii a died to Which I was compelled, id order to Wye= treater Calamities, and stiare tile blood of my belove 4 subjects. It is therefore to be cornidered as of ho authority: (Sivied) 4 I; THE KING." , - - 8AY0N14334 APRIL z 3 Yesterday, at seven in tht evening, tier Majesty the Empress arrived here. The Administration, the Guard or Honour, and several iegiMents of cavalry, *ent to meet her. The whole of the garrison was under arms, and stood in ttt'b lotig rows in the streets. The cannon of the citadel were discharged, and the town svits illuminated. Their Majesties alighted at the Castle of Merac, where the Empetor taket up his residence. To-day she receiv . ed a visit from the Prince Of the Asturias. The day before yesterday the Prince de la Paz ar rited here: he dwells in a castle , gear the toWtt: To ' morrow the King and Queen of Spain are expected. PdALLIMENtider PROCEEDINGS. tibttal b 1 Laßb3, FRIDAt, MAY is. Tfie Bishop 01136irne tool the oaths Ad his Seat: In the Appeal ." the Earl of Wemysso: Macqnets: . Mr. Boyle (Solicitor General for Scotland) was beard for the Respondent, and Mr. Dillies partly in reply.—Further hearing to-morrow. Mr. Wewarox, and several other Members of the House of Commons, brought up the Irish Assessed Taxes Bill,. the One Million Five Hundred Thousand Pounds Exibequer Bills' Bill, and tht Three Millions Exchequer Mb' 1 1, which were read a first time, as were also the Baker's Bill, and a private Bill brought up by Mr. Alderman SHAIV and other Merisbers,and some private Bills brought up by Mr. Dave/trot - 3 . ; Mt LtOCN, and other Meusbers. The Militia Pay Bill, the Militia Subaltern's Bill, the Militia Adjutant's Bill, the Dish Militia Pay Bill, and the Irish htimp Duties' Bin, passed thfough COmmittees, and were reported. On the second reading of this Bill being snored by Lard EL LENBOROUGH; The Earl of MOIRA objected to its piinciple which appeared to be this, that a 'debtor was to be subject to twe lve months impri sonment for a debt oT .201, or under. This, he contended, was contrary to those sound principles of Legislation which ought to regulate the law of Debtor and Creditor. Twelve riibtahs impri sonment was a severe iiiinlshrnent imposed for a great offence, and he saw no reason why in unfortunate debtor should be subjected to it. Another objection to.thi? Bill ivas, that there was no pin vision by which the fraudulent could be distinguished from the unfortunate debtor. Lotd ELLENBOROUGH contended, that his Noble Friend had in some degree misconceived the object of the Bill, as it did not impose twelve months imprisonment upon a debtor; the cre ditor might release him sooner. The only object .of the Bill was that after having been imprisoned for twelve months the debtor might demand his discharge. He admitted that there was no means in this Bill of distinguishing the fraudulent from the unfor tunate debtor, nor was it practicable, but at the same tittle it was not likely that such frauds would be committed for the sake of ob taining an amount of less than 201, He could not consent to give up imprisonment for debt; which was the security to the.creditor for obtaining his debt Of it was to be had, and without which the creditor must frequently rake the place of his discharged debtor, and commercial credit be destroyed. Lord ERSKINE observed; that under the law, as it now Stood, a debtor might be imprisoned for an indefinite time, but by the present Bill he might, where the debt did not exceed 201. demand his discharge at the end of twelve months% his property being still liable; this, therefore, he considered as a great advantage to debtors of that description. There was, he thought, a great error in some of the arguments respecting imprisonment for debt, as they seemed to suppose that one-half of mankind were creditors, and the 'other half debtors, whilst the fact was, that sprat nuns• her of the creditors were themselves debtors, and if the security which they had against their debtors was taken from them, must themselves become insolvent. Thi LORD CHANCELLOR also supported the BM: ha bad same doubt as to how far it might tend to ►eaten the sltarity of the Creditor, but he thought it au experiment worth trying. The Bill was read a second time, and committed for l'oesday. PARISH APPRENTICES. L-ird ROLLE Introduced a Bill for the better regulation of Parish Apprentices, which was read a first time, and ordered to by printed,with the intention, as stated by his Lordship, that it should lie over till the next Session.—Adjourned. HOUSE OF COMMONS. Mr. TOSTER proposed to R ithdraw a copy of a letter Hot! the Governor of the Bank of Ireland, which was in some respects erroneous. fnr the purpose of laying before the House the original Letter. T he original letter was accordingly brought up and laid upon the table. Mr. FOSTER withdrew his notice fur the present relative to the Bank of Ireland. A Message was received from the I.ords, acquainting the Homey that their Lordships had given their consent to several Private Bills, and to the Reversion whhout any amendment. A person from the Office of the Chief Seattarg of Ireland, brought to the Bar, papers relating to the Irish Linen Board, which wcfe la'ol upon the table. Mr. STURGES BOURNE moved for leaye to bring inn Bill for the better preservation of Timber in the Dean and New Fos rests.-I,wave was given. Mr. CHARLES DUNDAS presented* petition from certain Clergymen in the County of Berke, against the Stipendiary Cu rates Bill, which was ordered to he on the tables M. M. FITZGERALD moved, that the Report of the In spectors General of Prisons in Ireland, of 1797,be printed.—Or dered. General GASCISYGNE presented a Petition from tome thou ' sands Of the inhabitants of Liverpool, praying that the Measure recommended by the Sugar Coinmittee, may be carried into effect. Admiral HARVEY said, that there were petition of a contrary tendency ready to be presented, as aeon as the measure was re gularly before the House. The Liverpool Petition was ordered to lie upon the table. Sir CHARLES I'OLE postponed his motion respecting the dis tribution of prize money, from Monday to Wednesday next. Sir CHARLES POLE moved, that there be laid before the Hnusc a Copy of the Order of the Board of Admiralty, in April, 1806, for the increase of the pay of the Royal Navy.—Ordered. The Report of the Committee on the Child Stealing Bill, was brought up and agreed to. On the motion that the Bill he read a third time, The SOLICITOR GENERAL expressed an apprehension that the word asaieivirdy, which is applied in the Bill to the editing,- sion of the crime, would occasion considerable difficulty hi carrying the Act Into execution, as malice could seldom be brought home to the persons guilty of the rrime. Sir SAMUEL ROMILLY thought it very important that this word should stand in the Bill, because children were often carried off in consequence of disputes about the guardianship of infants. "Fhe Bill was ordered to be read a third time .n Wednesday next. The Interment Bill was read a third time and passed. . . . Mr. DI./NDAS moved, that there be laid before the House an account of the Annual Revenue and Charges upon this Revenue of the East India Company in Bengal, Behar, Orissa, and Secures t fur three years, according to the latest advice. ; and a number of other papers relative to the Company.—Ordered. Mr. HUSKISSON moved a Resolution, that in aH Inclosure Bills, where the Crown has an interest, a clause should be intro duced to authorise the Siarveyor General, to appoint a Commis sioner to Watch over their interests. . . Mr. WI-lITBREAD thought, that some grotuids should have been WA for this Renolation l which was one of very great impor tance. He therefore wished that the Hun. Gentleman ►hould at least defer his motion. Mr. HUSKISSON stated, that in some late instances the rights of the Crown had been considerably encroached upon from the want of such a clause In Inclusure Bills. Mr. M. A. TAYLOR asserted, that a was the fault of those whose duty it was to watch over theinterests of the Crown, if in every case of private bills their interests are not preserved. Mr. GRAHAM contended, that the Resolution was wholly, unnecessary, and would occasion much useless exptnce. After a short conversation between Mr.Svunons Bounna, Sire louts Ntw roar, the estANCILLOI atlas EICKEQUiI, and Mr. BIAND, the Resolution wag put and carried. Loud ~INI4INC . postpened his motion for taking into consider ation the Report of the Committee on the I,ittillation of Sugar from Monday to Wednesday next. Admiral HARVEY gave notice, that he would oppole the iteiture is every Stage. The Ceromittee bn the Dublin Police till was dtfeired from Wednesday to Friday next. NEW FLAN Or FiNANCE: The House having resolved itself into a Conimittee of the whole House, to consider of - the propriety of enabling the Holders of Stock in the Three per Cents. to ekurchase Annuities by the transfer of their Stock. The CHANCELLOR of the EXCHEQUER rose purstaht to notice, to submit certain Resolutions to the Cothinittee the object of which would be to permit the Hol d ers of Time Per Cents. Stock, to transfer this stock to the Commissioners entrusted with the thariag,etnent of the fund for paying off the national debt, Ter the pdrpose of procuring Annuities proportioned to the quantity of Stock transferred.— hough the subject was one of certainly eery great importance, he hoped that the Committee would co incide with him in thinking, that this was not the proper stage for its discussion, more especially as it was net his intention to call upon the Committee to pronounce any bpinion upon the measure Which he had in view. All that he meant now, was merely to submit a series of Resolutions to the committee, after having, stated as shortly as possible the grounds on which these Resolutions were proposed, and' whin he had proceeded thus far, he should move that the Chairman should report progress, with a view to allow stitficient titne for the Resolutions to be printed, and attentively considered by the MeMbers of the House, before they came under public discus sion, which he thought might take place probably about Thursday next week.. In setting out, he wish ed particularly to guard against any misapprehension or pre-coriteived notion, that it was his intention to break in upoii or in any way to interfere with the ope ration of the sinking fund He declared, that he had , no idea, tither direttly er indirectly, to divert this fund from its natural and proper Abject--the demption of the National Debt—and having 'itemised this observation, he proceeded, first, to explain the nature of the propositions which he meant to submit to the Committee, after which he should state the reasons why it appeared to him desirable that they should be adopted and acted upon. The puepott of these propositions would be to enable persons posses sed of three per cent. consolidated or redueed stock, to transfer such stock to the Commissioners intrusted with the management of the fund, applicable to the redemption of the national debt, in consideration of receiving on such transfer, annuities proportioned in value to the quantity of the stock transferred, and the age of the persons to whom the annuities were given. He did not mean that this permission should be ex tended to persons under the age of 35, or to persons transferring less than 1001. capital. The former li mitation was adopted with a view to prevent imposi tions, the latter to save trouble, which was as great upon a small as upon a large sum. He stated that the effect of this proceeding \vauld be not only to take out of the market the stock which Was made the subject ot commutation, but to secure the redemption of this stock at the price of the day on which the transfer was made. It was well known that the ope ration of the sinking fund had contributed very much to increase the price of stock ; and he had no doubt that its influence would continue to be felt in raising still higher the price of the funds. If the Committee agreed with him in this opinion, It would not be de nied, that could a measure be devised, consistently with the maintenance of the national faith towards the public creditor, to redeem the whole of the debt at the present price of the funds, it would be ex treniely desirable to carry such a measure into effect, because such a proceeding would prevent any future rise in the funds from retarding the operation of the Sinking rand. The Sinking Fund had two different objects, the one of which was the redemption of the Public Debt, the ether keeping up the price of stock. These two objects were manifestly, in some degree, incotisiste,nt with each other. When the Funds were high, the public borrowed on advantageous terms ; but the progress in the reduction of the debt was pro portionably retarded, and, vice verm, when Stocks were low, the operation of the Sinking Fund was ac celerated, while Loans were made on terms less ad vantageous. The present Measure combined the two advantages of tending to increase the prite of stock, and of securing the redeffiption of the Stock antece dent to its rise. The proposition was so obvious, that he did not conceive it needed explanation ; but to render it, if possible, more plain, he put the case of a person making a transfer of Stock, its consideteation for which transfer he was to receive an ehnitity equal to double the present interest. The value of this an nuity was calculated with compound interest, and a view to the probable age of the person to whottt it war granted, so that the additional ittetest should redeem the original sum. For instance, supposing a man possessed of 10001. three per Cents Stock, made * transfer of this Stock to the public, aitil that instead of 301. he should be paid ea. in tonsideratioe for this transfer, the additional "301 would not only on the principles of fair calculation, redeem the 10001. at the present price of the Funds, but the rise which may in future take place in the Fends above their pre sent price. He admitted that the *hole merit of the plan rested upon the probability of a rise in the price of the Funds ; for if the Funds should fall, it would not only not be an advantageous proceeding for the public, but the public would absolutely be a loser by it. The point, therefore, which particularly called for the consideration of the Committee, in or der that they might pass a wise decision upon the plan was, whether it was probable that the Funds shoikld continue progressiVely to rise. If they co eld form any inference respecting what was to take place, from what had already happened, there could be lit tle doubt this would be the case. Since the last loan was contracted for, the Funds had risen about 6, per cent. on every hundred pounds stock, which was equal to a rise of frotn nine to ten per cent. upon every hundred pounds of real capital. Had the mea , sure now in contemplation, therefore, been adopted last year, the redemption of stock treated would have been received at 62. He did not pretend to say, that ' the Funds might be expected to continue to rise as progressively as they had done in the course of the last twenty aionths ; bat he had no hesitation in deliver- ing . o his opinion, that they might be expected still to rise above the present price, in event either of the: re-establisliment of peace, or of the continuance of, wa r. The return of the blessings of Moe atways ~. tended to .produce. .this effect ; because it being 1 , 13 longer nesessary to add to the public debt by conu acs ing for tidw loans, the operation of the Sinking• Fund was no longer impeded or counteracted bt &son trary process of borrowing: At cordingly, the eff ect of the last peace was to raise Stocks horn 51; to though the amount of the Sinking Fend warthen only 5,800;0001. being Only 1-82 d part of the debt, which at that time amounted to 478 millions; whereas now the debt was only 586 millions, and the Sinki ng Fund no less than ten trillions, being a 5 1 3th inst ea d of a 82d part of the capital Of the d e b t . Th e pre sumption, therefore, was, that in the case of a return of peace, the Funds would rise still more considera bly than they did at the termination of the last war when the Sinking Fund bore a smaller proportion- to the amount of the debt than it does at present. Sup. posing, on the other hand, the war to continue; there was no reason to fear that the influence of the Sinking Fund, which had been so adiantageously felt in the course of the last year, would cease to produce, line. equal effect, at least the same sort of effect, in an in. ferior degree, in the succeeding sears. Tl:e pl at , therefore, which it was now his object to introdu c , would recommend itself to the C omm i ttee by is ten' dency to aid the redemption of the debt. Witii re speet to the probability of its being effickr.t, L could not entertain any apprehensions upon tl:is s,.Jte when he considered the number of persons in this country who were desirous of psitcliasing annuities, and Hi e would be ektremely happy to add to their incorro; without risking •Aheir property. Such persons would receive under this plan, besides the roost ample and satisfactory securily that they could wi.h for, moo advantageous terms than they could obtain in any who( way, because the public not wishing to derive any profit upon,the sale of the annuities would grant the most .favue,rable terms possible to the por,.naser...._ There Was only one other point which he had omitted to mention in its proper place ; namely, that nu transfers were to be permitted should the 3 per Cents. rise to 80. Having thus stated the outline of his plan, Mr. rerceval concluded with moving his first Resolution, of which the following was the purport 41 That it appears desirabk for the purpose of aiding the mute speedy Redethption bi the National bebt, to enable the holders of the 3 per Cent. Consolidated and Reduced Stuck, by a Hamlet of this Stock to the Commissioners for paying off the National Debt, to purchase Annuities in the names of one or two persons., nut under CS years of rge, provided that the transfer is not Delo* the valtie of ...still:" • - Mr. WII , I)3FIAM would nbt in the present flair stage go into any detailed observations on the plar submitted to the Committee by the Right Hon. Gen tlemp, but he merely lose to observe, that there was ' this obvious and fundamental objection to the plan, that it did, in a greater or less degree, tend to vitiate the ttiorals . of the lower orders of the people. He wits afraid that too thany parents would be fount, that would be very willing to sacrifice the future interests of their children to their own immediate gratification. The of annuities was too generally attendant with such consequences, and he saw nothing in the plan of the Right Hon. Gentleman calculated to ob. viate such effects in the present instance, Mr. BRAND observed, that by as much as the price of stock exceeded 70, by so Much would the public be injured, as fat as related to the operation of the Sinking Fend, Mr. TIERNEV thought, that the objection of his Right Honourable Friend was well worthy of the most serious consideration. The mischkfs resulting front persons in the lower orders of life, havint a market opened to them for the sale and disposal of the future interests of their families, were of a nature such al to certain in themselves no inconsiderable objection. This, however was an objection of a specific kind ; and perhaps he felt it the less, becaese he did not believe that the system, of which it rat to be one of the consequences, would ever be carried into effect, The system was founded on a principle contradictory to the uniform habits of the country. — The habits of the people of this country were almost univettally influenced by, a wish to save their capital to the decrease of the interest, rather than sinking that ca pital for a greater interest, which must be the principle of any system of life annuities; nor would they in this point of view be content with the assurance of the Chancellor of the Exchequer, that his plan would not ultimately tend to the dec4ate of their capital ; nor was it probable that contrary to their constant habit, they would in this instance be suddenly brought to be more anxious for the increase of interest at the expence of their capital. Many of the Right Hon. Gentleman's positions rested upon the resumption of the apparent prosperity of the funds ; but he was in dined to think that this prosperity Was hut apparent, and owing to the general stagnation of trade, which had for this some time back prerailed. He would not inquire from what causes, whether Orders in Council 'or arising nut of the necessity of the existing state of things, but let what would be the cause, the effect was not to be denied as to its operation on the Sinking Find. Suppose 10001. lodged in die three per cents. the person funding it would be entitled to 301. a year, and on tranierripg it he would be entitled to 601. per annum. ' He left the Right Ho. nourable Gentleman to consider how the ih this case should act, if he *eve willing to rs7s n e of. his funded Stock for an annuity. t the case of the Commissioners would be, in this 'one respect, distinct from that of all other purchasers of Stock. If he, for instance, went to buy Stock, if he thought it too high, he would come away without purchasing any ; but the Commissioners must purchase, let it be at what rate it Would. He would iowesti debt to liother, and a fitter period, whatever observations he might feel it Ms duty to make ; but he could not sit down without reminding the Right Hon. Gentleman, that Mr. Pitt had resorted to this systeni vt atutufties its 1767, or 1768, and had been obliged to abandon ft. Mr. ROSE denied that there existed any analogy between the present plum and that of 1768 ; for in that plan, the public were to give up present -gain for future interest, whereas, in this they were to give up future interest for present in. Lord HENRY PETT Y objected to the opetatlos upon minor capitalists, but feared that it might, in that respect, b. mil:Anted to M. Necker's Rolla Ifitaierst. Mr. HUSICISSON defended the plan against the imputation of its contributing to relax the mor;ls of the country, and to encourage persons to sacrifice small but permatte#,:advantnges for great pr esent , but precarious revenue. Them se,as no extraordinary temptation held out by the Ovietttiteht ire the holders of stock to tr4safer it for annuittets He was pftstatied ii to Tit ,I