Star. — London, England, 1829-11-26 00:00:00

*i&-- ( , 5 ,,,, rr , ,p 4v,,,.,_ , A, ..,. _ 7 ----, f &;\ I* r f ' ' '9 ) ' ' 001 ' k V) ICH . Si 1 r • t : - ) . / . te.._.• /w . TIIE CONSTITUTION-NOTHING LESS, AND NOTHING NIORF. • i IL • THURSDAY EVENING, NOVEMBER 26, 1829.' NUMBER 13,329.] PRICE SEVF.NPEN " . • •BOARD AND LODGING.—Two Gentlemen can be J 1../ accommodated with HOARD and LODGING in a small Family. with the advantage of the French language spoken. Terms moderate. _ _ b... Cirds of Address apply to Mr. Payne, Corner of Gower Place North. PLATE GLASS on SALE in every Variety of Sise, from the Toilette up to those of the most extended dimensions, at H. L. COOPER'S Carving and Gilding Manufac tory, fe, Illsbopsgate-street Whale. Pram the late Improvements in Casting, Plates can now be mandamsred as large as lea inches by 80, at nearly ons-asktl of the original vane. An Elegant Assortment of Pier, Chimney, and Toilette Frames, of new and rich designs, constantly ready for inspection. H. L. Coons pre sumes few houses can meet business on better terms than himself, the Carving, Gilding, and Silvering Branches being conducted on the Premises. Large Glasses forwarded by Spring Vans to any part of the Kingdom. No. ea, Eishopsvue-street CaILBLAINS, a HEUMATI(SiIii. PAWS& kb. CHILBLAINS are prevented from breaking, and their tormenting itching instantly removed, by WHITERRAD's ESSENCE OF MUSTARD, universally esteemed for it. extra ordinary efficacy in Rheumatism., Palsies, Gouty Afrectivos. and Complaints of the Stomach. But where this entrant remedy has been unknown or neglected, and the Chilblains have actually broke, WHITEHEAD's FA MILY CERATE will ease the pain, and very speedily Beal them. This Cerate is equally efficacious for all ill.conditioned Sores, Sore Legs, Scorbutic Eruptions, Blotches, Pimples, Ringworms, Shin gles, Breakings-out in the Face, Nose, Ears, and Eyelids, sore and Inlhmed Eyes. sore Heads, and other Scorbutic Humours. The Eason' of MUSTARD is perhaps the most active, penetrating, and effieaei , :us remedy in the world, curing the severest Sprains and Bruises hi less than half the time usually taken by any other Liniment or Embrocation ; it also heals Cuts, Punctures from sharp Instruments, Nails, Thorns, Splinters, Ste. with incredible fact . Uty, without smart or pain, preventing inflammation and fester ing, and is equally useful in the various Accidents of Animals— in short, it is a domestic remedy of such uncommon excellence and utility, that no Family sensible to its own comfort should ever be without it. Prepared, only, and sold by R. JOHNSTON, Apothecary, 13, Greek-street, Soho, London—the Essence and Pills at xs. 9d. each, the Cerate at Is. lid. They are also sold at 68, Cornhill ; and by *eery Medlcine Vender in the United Kingdom. • er The Genuine has the name of " R. Johnson" inserted in the Stamp. SONG—THE PEEPING FAMILY. Aia—" Were a' ioddin, Etc. WHILE the Nobles of the Land all resorting to the Strand, The splendid grace of Fashion and of Ornament command, That we cannot do the same grieves our daddy and our dame, And we're a' noddin, nid, nid, noddin, We're a' noddin, at our house at hame. But our Johnnie comes in haste, with his Boots in brilliance gran d, That mirror-like the shadow of our grannum first embraed, Like a tiny elf it seem'd, in wild terror While she scream%; And we're a' screaming, scream, scream, screaming, We're a' screaming, at our house at Lame. The auld canker'd Carle next on the Jet his optics fled, And saw two little devils with the Blacking intermied. " There was only one before, now" he said," there flits one more; And they're a' flitting, flit, flit, flitting, They're a' flitting at out house at hame." Then our minnie she would look, when by wit she seem'd fonds'', Foe far beyond the threshold to her nimble heels she took, Crying, " Sirs, there were but two, now three grimly ghaists I view, And they're a' coming, come, come, coming, They're a' coming to our house at lime." Now the cat began to scold, and our surly mastiff growl'd• When Auntie peep'd the Jet in, and of other wonders told, . There the dog and cat both saw, then peep'd minnie, aunt, and a ; And we're a' peeping, peep, peep, peeping, We're a' peeping at our house at hame. Then our Johnnie laugh% aloud, of reflecting Blacking proud, " Your shadows in the Jet," he said, " as in a mirror crowd ;" So now %/GUM'S matchless fame, that we brightly may proclaim We're a' blacking, black, black, blacking, We're a blacking at our house at !tame! This Easy Shining and Brilliant BLACKING Prepared by I;JW/,1 50, STRAND, London; And sold in every Town in the Kingdom. LIQUID In Bottles, 6d. 10d. 12d. and 18d. each. ALu PASTE BLACKIN, in Pots, 6d. 12d. and 18d. each. t Be Particular to inquire for ROB?. W A It It E N 'S, 30, STRAND. Al I. OMBRA ARC COUNTBRIMIT. ON THE PRESENT STATE OF THE PUBLIC FUNDS. From the Berlin State Gazette. The tendency to a rise, which the public funds almost every where exhibit, opens to the observer of financial phenomena the prospect of various new and interesting results. Having for the most part originated In the war, or in the protracted distress which followed it, those funds were long a rich source of profit to annuitant+ and stock-jobbers. This source, however, most neces satily gradually diminish, in proportion as the system of general peace, only slightly interrupted as it has been by the interposition of unfavourable events, encourages the rise of the funds; and the necessity which formerly compelled the borrower to submit to the hard conditions imposed by the lender, is now transferred to the latter, who finds it convenient to put up with a considerable reduc tion of the rate of interest, in order to avert a threa-ened repay ment of his capital. The public securities have, solely by their own operation, pro duced this favourable change, which has not only been already turned to advantage by several provinces of Prussia, and particu larly by the city of Berlin, but the impending influence of which is indicated by the money transactions of some of the greatest Euro pean States, since the immense masses of capital represented by the Government paper of different countries can find no opportunity for investment, except that of being laid out at interest. On this circumstance, and not on any substantial resource., which do not sufficiently exist, depends the power which, in mo dern systems of finance, eitabks the debtor, step by step, to obtain an advantage over the creditor ; and so strong has been the tee dency of public securities in this direction,' that the first bOld pro- ject for a reduction of interest on a grest scale, formed at a time when the current price did nut lead to such a measure by a natural course, showed the possibility of the execution by its immediate operation. Villele'e celebrated plan for the converdon of the French Five per Cent. Rentes into Three per Cents, afforded, however, only a distant prospect of rapidly raising the course of the funds to the height which the plan required. Indeed, the scheme was toe' rashly . brought Onward, even upon a perfect certainty of its practi cability, to promote a sufficient advantage to the State. By the conversion of the Five per Cent. Ernie. into Three per Cents, the holders were to he indemnified by an augmentation of eapital to the extent of Thirty-three and a Half per cent. Thus the State was to gain One Per cent annuity on the in terest, but even this advantage was nearly wholly counterbalanced b y t h e egtratirdmary magnitude of the French sinking fund, which was then in a situation to extinguish the reducible national debt of France in !worry-one years, at par. A large sinking fund not only diminishes the advantage obtained by a reduction of interest, by limiting the period of its Operation, but also causes a rise of price, which has In a certain de, ee an unfavourable cbunteraetfou. Now calculation proves that 'twenty year,' saving of interest at Otte Per Cent. would he a trifle absorbed by the sinking-fund. if during the same dine it were, instead of operating no the Five'Per Cents. at par, to - he applied to the redemption of the Three Per Cents. at' the avetage price of Eighty-ieven and a Half Per Calif. The optional conversion, afterwards arranged with t of the Ch a mbers was better adapted to this object, as cdV:nwas thereby created. only provisionally, in connection with the milliard granted to the emigrants, upon the whole a Three Per Cent; debt. to obtain for the advantage of public credit a fixed rule towards a comprehensive reduction of interest. Indeed, when a redeemable stock approaches par, its price can no longer be regarded as the mere result of the interest connected with it. This the present Current rate of the funds every where proves. For example, the price of one franc rents In the French Three Per Cents. Is 27 1-sth, and in the Five Per Cents. 21 3-sths • the puke of one riz dollar annual interest In the Prussian Debt Certificates is nearly 25, while that of the same amount of interest in the Anglo Prus sian Obligations is about SO. The Influence of this kind of differ ence has, within tha last few months, begun to operate on the Austrian paper. There lately appeared suddenly in circulation Four Per Cent. Obligations of old and almost forgotten leans, and these securities soon rose to a price, which, with reference to the interest they bore, far surpassed the Five Per Cent. Metalllques. The new loan of 20,000,000, or 25,000,000 of guilders may also be mentioned in connexion with this topic. That financial measure must not be appreciated solely by the stipulated price ; for that price, which Is kept up against the etneent rate of Five Per Cents. notwithstanding the disadvantages of the rise of - the capital has been diminished by the contemporaneously arranged limitation of the sinking fund, does not at first.appeer,tdvantageous to the State, but seems rather calculated to obtain the before-mentioned certain rule for public credit, with a view io the future introduction of a new grand financial operation. The cue is different with the Russian 5 and 6 per Cents. In scriptions, the primes of which keep pretty nearly in the relation of their respective interests. In fact, these funds, in consequence of the express condition by which the holders never can be repaid the capital, are to be regarded as perpetual annuities, and even bear that name, so that the designation of the capital is merely a matter of form. Thus they are protected against every reduction of interest; and any such reduction which may take place with respect to other public securities, can only have the effect of raising the value of the Russian securities. Their present price, however, indicates scarcely the commencement of this effect. In a Berlin Exchange list, the Hamburgh certificates for Russian 5 per Cent. Inscriptions in the year 1825 were long quoted at 3 per cent. below the Prussian National Debt Certificates; they afterwards rose to an equality, and fluctuated within that b oundary until the war with Turkey produced a fall. The greatest declension, which amounted to about 4 per cent. took place In Jw.e and July last, when they were left much behind on the rapid rise of the Prussian Debt Certificates. On the conehtsion• of peace, however, a com plete change took place, and they. are now fl per cent. higher than those certificates, if we take into account the settled value of this paper In Berlin, which is it the rate of 100.91 Hz dollars for the silver ruble, and compare that with the real worth of the 100.91 rix dollar. Compared with the Austrian 5 per cent. ftletaUlques, the Rus sian Inscriptions Were, in 1825 and 1826, at least 10 per cent. lower, and about 7 per cent. in the greater part of the year 1827. In the period between January, 1828, and April of the present year, the difference rose from n to 10- per cent. and fell back again in October to 5 per cent. That . the proper value of these Inscriptions, as perpetual annuities, is net yet Telt, is rendered more apparent by the circumstance that the late 5 per cent. Russian loan, contracted with Hope and Co. of Amsterdam, which is redeemable at • par, and the interest of which is only payable In annual rates, h. not lower. This loan was made at a time when Villeies project for the reduction of the French Rentes was in full activity; but as only half per cent. was assigned to the sinking-fund, the same disadvantage to the public finances did not take place from the rise of the nominal value, as occurred with respect to the French Reines. Now, though the existing French 3 per Cent lientes have been raised, partly in consequence of the operation of the powerful sinking-fund being entirely confined to them, yet the Anglo-Danish Obligations follow them with a db." tent but steady progression. However, these Obligations, accord ing to their present price, secure to the bolder scarcely 4 1-sth per cent. interest, while the Russian Inscriptions, which have with respect to their capital a less limited and twice more operative sinking fund, yield an interest of almost fully five per cent. The Berlin Stock Exchange is at this moment the centre whence an impulse is given to several funds of foreign states, the prices of which have constantly here a tendency to resolve into an equili brium with the price of the Prussian National Debt Certificates, which bad for a time reached a fixed point at par, and which are at present only one 1-Bth per cent. under it. In a tabular view of' the course of the most important funds, subjoined to this easy, interest at four per cent. Istaken as a proportionable rule, accord ing to which the gradation of the course is to be determined. In this table the Five per Cent. redeemable effects form a particular class, because their •higher price above par may be held to indi cate precisely a lower degree of public credit, since that price is the consequence of a more remote prospect of the redemption, as appears on a comparison of the Austrian Five per Cent. Metal liques with the Anglo-Prussian Obligations. It is further to be considered, that the Prussian National Debt Certificates being ! lower than the French and English Three per Cents. is a circum stance which must be ascribed to the great value of the denomina tive capital of the latter. A distinct class is besides formed of public neuritis., repayable at fixed terms, with a premium, to which the incitement of higher gain gives a peculiar value. As, however, that gain only accrues to individuals at the expence of the whole community of the persons interested, and as such funds are therefore far trom being the most proper for a solid investment of capital, their course rises above par in proportion as the capital required for each share is less, and the more the shares are distributed among the public. Thus, for example, the Polish Partial Obligations, the most recent paper of this class, have not yet, on account of their novelty, taken their proper station in the course with respect to other loans of the same description. Interest at the rate of five per cent. had been fixed upon as the basis for a great proportion of these effects at the period of their first emission. The substitution however of four per cent. annual interest, which according to the present calculation of the par, appears proper, produces a difference, which becomes the greater in proportion as the Sinking Fund be longing to the plan operates tardily. Huw far the funds of great states may depart front a position corresponding to a fundamental interest of four per cent. is exem plified in a striking degree by the course of the Three.per Cent. English Consuls, which only yield an interest of three and one third per cent. without any considerable sinking fund operating on them and giving a consideration to the nominal capital. If the cause - of this be, that in England the profit on merchandise and the general rule of interest is lower than in the other countries of Europe; it must be allowed thrt the existing public securities may also inversely produce by the advance of their course, a rise in the price of goods as well as a depression in the general rate of inter est, and thus become a powerful engine in giving a new and ex tensive activity to trade. In tact, the relation between labour and tranquil enjoyment is essentially expressed by the tate of interest. The less that rate is, the more an individual has to acquire to en able him to retire from business, and the greater is the amount of the forces which come into competition. Those, therefore, who consider the rise of public securities as Injurious to the state, be cause the Sinking • Fund is thereby obliged to purchase at a higher rate, overlook not only the influence just mentioned, but also the direct advantage which the finances derive from a reduction of interest. To the traffic in public securities,—much as it has been declaimed against on account of partial abuses and orttradictory phenomena, —belongs *e merit of having given to public credit a real value, whereby it has been brought into the same lists. and enabled to compete advantageously with private credit. The distinction is no longer made that the capitals which are first procured from the lender. cannot be recalled. This con dition is rather an imperfection, which attaches to private credit; the state, on the contrary, having a much more elevated and uni versal existence, never fails to obtain a competition of capitals, whereby an infinitely more prompt and convenient realization takes place. Even the temporary fluctuations are in this way no obstacle of importance, as moneycan always be borrowed on public securities, and especially on domestic paper. The price of public securities is besides in reality nothing else than the manifestation of the constant change of vatue to which all kinds of property and objects of Commerce are liable. The holder of public securities is therefore in this respect not the lender of an unalterable capital, but `participates to a certain degree in the rela tions of the owners of other property, in a sph.re, boirever, in which the course of political events, which affects all relations, di rectly Manifeltu Its Influence. Upon the whole., the vast extent to which public securities have in the present dines been carried:may be regarded' as a great historical indication. It is the decided and unceasing tendency of the vge towards a universality of. system, which here shows itself. The impulie towards the rabing of public credit thrspgh generalization rat value and its own move ment, produced long since in Prussia the excellent system of pawn- certificates, the advantage of which is still not sufficiently under stood in other countries. The modern national debt system has the effect of bringing into operation the potentiality of those rela tions whereby the whole private credit of the country is elevated into the general sphere of public credit. However, as the great amount of the private debts in a country is not nec essarily a sign of poverty and depressed trade, so it may be presumed that the magnitude of a national debt is also in itself an evil. it may, indeed, rather be presumed, that the wants our of which it has grown would have been satisfied in some other way to the disadvantage of the country. Public credit is therefore regarded as a most important power which it is the duty of Governments to create and preserve by every means, and more especially by the guarantee of publicity joined b ao economy. With rtgard to the traffic in public securities, that is an affair which, as experience has 'roved, is best left to take its own free course, in which a counteraction to its inconveniences will always be found. At the same time, the state must take care not to create ideal va lues, or give, by unhealthy incitements, like lotteries, such an undue encouragement to dealings in paper as would make the transaction degenerate into agiotage. FRENCH PAPERS. .......-...- . From the Messager des Chambres of Monday. VIENNA, Nov. IS. According to letters front Semtio, the Porte having paid the first instalment 'of the commercial indemnity, amounting to 500,000 Dutch ducats, and caused the fortress of Ghlurgevo to be evacu ated, the Russians had, on the Ist of this month, pitied the sky e Adrianople, to deliver it up to the Turkish Authorities appointed for the purpose by the Ottoman Government. It still appears that Mustapka Pasha Is to occupy that fot tress. The mail from Constantinople of the 46th October arrived to day ; it brings little news; but we learn with pleasure that the Porte has recalled to Constantinople the families that were ba nished to Asia Minor, in consequence of the insurrection of the Greeks, and that in general it appears inclined to mitigate the mea sures adopted at the beginning of last year against the Catholic Armenians. Hail Puha is adil at Consta utinople, but u sew as be receives his passports, he will set out for Odessa, whence he wiU proceed to st. Petersburgh. BERLIN. Nov. 10. Letters from St. Petersburgh say, that the Emperor is inclined to give tip a part of the contribution to be paid by Turkey, if the Porte consents to cede to him in perpetuity the fortress of Kars, in Asia, with its districts. In this case the occupation of the Princi palities Ilould cease then, or would continue only two years. This arrangement would suit the Porte, which would gain by it the an nual tribute of the two Principalities, and get rid of a great part of the Armenians, who at this time are its most discontented sab jects. The European Powers would also be very glad to see the Porte delivered from the burden which the Treaty of Peace has imposed upon it, by the cession of a small extent of territory in Asia. Some of our politicians pretend that the English Cabinet is averse to every aggrandisement of Russia in Asia; but we do nut think this probable. We know from good authority that the Sultan Setters Sir R. Gordon in every way ; but that the latter, without departing from the respect due to the Sultan, endeavours to evade his civilities, in order to prove that the most intimate union prevails between the three Powers, and that their policy is not influenced by petty interests. This way of thinking does not pleats the Sultan, who always endeavours to deceive himself re specting the relations of the great powers, and dreams of projects, the execution of which has always been beyond his strength. stsigaburg Gurgle. From the Constitutionnel. PARIS, Nov. 23. The present situation of our Minister has been compared to that of the Duke of Wellington in England ; but there is a great differ ence, for the First . Lord of the Treasury has a majority in Parlia ment, and Mr. Peel is a distinguished man; while M. de Po lignac cannot command eighty votes in Parliament, and M. de Menthe! is a complete political nullity. We say M. de Polignac has not eighty votes in Parliament, and nothing but the most profound ignorance of the former votes of the Members can give rise to any delusion on this subject. Some po litical men, from custom and situation, such as M. Royer Collard, Laisne de Villevesque, M. de Bondi, and others, are admirably well acquainted with the Chamber, and their opinion is unanimous as to the Parliamentary poverty of the present Ministry. They are only the last fragments of M. de Valdes system, on whom M. de Polignac can certainly calculate, and from them we must separate those public functionaries who always separate from a dying Mi nistry. Suppose that their whole force is united, that IL de la Bourdonnaye votes with his friends, that the men devoted to power join themselves to a Minister in whom they place no confidence— with all these the Ministry will be in a minority in the Chamber, though this is what 31. de Polignac cannot believe. From the Courrier Francais. PARIS, Nov. 3. A/►AIRS o► THK EAST.—Since the conclusion of the peace, which was to restore things in the East, and place them on at im movable ba-is, the relations between the Porte and Russia are far from having resumed that friendly and regular character the peace of Adrianople was to have given them; the Treaty has not yet been executed in the smallest part by the Pone. Sometimes the Sultan appears to expect that the Emperor Nicholas will modify it ; sometimes he allows a hope to appear that the conditions will not be executed, without its being known on what this hope is founded. There is some agitation in the pro vinces; the Grand Vizier has refused to give up the Seals of the Empire ; the Paellas disobeyed the orders of the Divan; the corps of Ottoman troops which were to have been disbanded preserve their position. It is evident that matters are not going on there as they ought te go after a Treaty, and that the conquered still preserve some hopes that the arrangements which it was supposed bad been concluded, will not be definitive. The Moniteu► of the day before yesterday said that the Turks had em ployed six days to write that half line—" I, the King of Kings, I ratify " But, is it certain that the Sultan has written this half line? and if it has been written, that it involves his adhesion to the whole Treaty. We will not hazard any conjectures, but place before our readers an extract front a letser dated Constantinople, Oct. 20 : ss in the Divan a certain air of cos:Unice which conceals some political project. The Treaty is concluded and rad- Sid, but not executed. No measures are taken to pay the first in stalment, and consequently to prepare for the evacuation of Adria nople. The speedy arrival, however, of a Russian Minister, who is to precede 31. de Ribeaupierre, is announced. At the same time the news of the plague being at Odesto. and in the provinces beyond the Danube, has cached some satisfaction; as well as the prospect of the Blsck Sea being shut, which the winter renders im practicable. There is peace without friendship.' The Pacha of Egypt is to send some corn, it is said, for the supp'y of the capital. .Commerce is annihilated. The coin issued from the In penal hlint is so much debased, that the piastre is hardly worth 35 cert. times, without its being possible to say where the depreciation • will slap. " There ie still something said about discontent in !lamella.; but she importance of the pi uceelings of the Paella of Scodratas bin) much exaggerated. The Pacha of Ghitogevo, however, will not give up that place to the Russian Commissioners; and it is known that he is a man who will risk his life to defend a town which is the principal bulwark of the Danuhs. The camp at Shumla is still occupied by the Turks, who seem resolved to remain there till the Russians have retired beyond the Pruth. This will postpone for several years one of the most important questions arisiog from the Treaty of Adrianople. The Ambassadors have again taken up their stations at Pera, where there is nothing but visits of cere mony, messages of Dragomen, and other political trifling. and will be-nothing else till the balls open In December." From the Journotdes Dcbats of Illonday. A private letter Mtn Modon states that the general opinion there is, that the English wiU disembark in the Morea, and take possession of the points which the French have fortified. The writer remarks, that the French have thus put the Mores into a state of defenee,without any other effect than making it one lonian Island more. The Greeks ate In deepcip at seeing thous*, His betrayed. We have thus fortified Navarino far England, who will never surrailer a port of such importance. FRENCH FUNDS—Pans, Nov. 33 Five per Cents. 108 f. 90e. Four per Cents. I 04f. 50c. Three per Cents. .04f. 40c. Rink Actions, 1,890 f. FOREIGN FUNDS. Items de Naples. 95f. 50c. Royal Spanish Loan, ON. Perpetual Spanish Annuities. 57j. Haytian Loan, 365 E DENMARK. OFF MOEN, OCT. 1829. How k it that we, a wandering and sight-seeking-people, du not more frequently visit the islands of the Danish Archipelago? Here we are in a small steam-boat (the Caledonia) threading the channels among these green spots. The wind is fresh—the sun is shining— the spray is dancing, forming light and beautiful rainbows, through which we steer oar way: In the shallow waters the polypi or loco motive vegetables, are swimming, putting forth their lace-like mem branes, and opening their golden mouths. The birch-woods touch the waves, sad the rich and verdant fields come down to the shores. —As we land or embark our passengers we are greeted by new faces—all speaking quiet enjoyment, and all comfortably clad. The sailors wear coarse garments, but I see neither filth o lit,.., t:4 rags, and all around looks like the empire of courtesy and g will. The mariners doff their hats as they pass along, and we all return their friendly greeting. Many are the vessels which s by us—from the little canoe, hewn out of a huge a Hid tr; il k solid to the large Baltic traders , now hurrying homewards, i tiitar of being overtaken by the northern frosts. As we pass he towns and forts we thunder forth the news of our coming front ierr little establishment of artillery, and sometimes bear the realhoing of them. The most striking characteristic of these island ers is their quiet self-possession and singleness of purpose. It seems as if the elements of pain and pleasure were not easily wrought up to forcible outward expression. 'They have their love, no doubt, and their hatred, and perhap s their enthusiasm in both. I h ave been listening to their conversa tion ',vetting • iron criminal—a vile Incestuous fellow, and I suppose their indignation is about as strong as any of their passions could easily be. They were talking of *hat punishment should be inflicted on him ; yet I beard none propose his death—slavery for life seemed the dictate of the general opinion. Denmark, in truth, seldom witnesses an execution—not one, I hear. in many years ; and when it does the effect is terrible, and probably salutary. It were very vain, I fear, to repeat the so-often, the so useleisly-re peated fact, that our barbarous blood-sheddings only make crimes more rife and more ferocious—that the nations which have the fewest executions witness the fewest capital offences—that to look upon life and property as too sacred to be lightly trifled with, is the most ef ficient means of providing for their security. If Government think so carelessly of the boon of existence as to send convicts to the gallows as we send them in England—if they take away life as every day an almost indifferent matter, society, and especially the worst parts of society, will catch the infection of their indiffe rence, and the deeds of Williams and Thurtell—tigers while living, and heroes when dying—still continue to stain our an nals. In Spain, where despotism commits its legal butcheries by wholesale, I have seen a murdered man lying in the street, and the passengers scarcely stopped to regard him. In the better parts of Germany, Holland and Denmark, where the judi cial violent death of an individual is of very rare occurrence, such an event agitates society like an earthquake. If there be any thing in us which is allied to the Divinity it is life, with all its mysteri ous machinery of thouAt and action ; to put out this light, except on the most grave and momentous occasions appeats to me of all presumptions the most presuming, of aU defiance' the most daring. Yet the system of exposure to which criminals are condemned in Denmark is a very bad one. You constantly meet with groups of convicts in the streets, roads, or public building. some; with fetters on one leg, others on both, others with an iron collar round their necks, with bars protruding from it before and behind. On these classes of men ignominy has impressed its deepest stamp. Reckless and hardened, they look, for the most part, personification. of dating iniquity. They are, as it were, doomed to depravity, placed beyond the reach of retormation, all the chances of life thrown into the scale of guilt. And the effect on others of such exhibitions is exceedingly bad. I never heard a word of regret, still less of sym pathy, expressed by those to whom the sight of their coarse and party-coloured garments, and the clank of their gyves, are habitual. The bad 'fleets of bad legislation do nor stop with its authors or its objects, but ru.t into the whole frame-work of society. The appearance of these islands immediately suggest to the mini the fact, that if Denmark, instead of wasting her resources in keeping up an inordinately large army, which is useless now, and would be perfectly unavailing in case of war—if Denmark were seriously to attend to her naval resources, she might become a very respectable maritime power, and arrive at a great commercial pros perity. }ler inbabi:ants make awkward ttoops, and her army cuts as shabby a figure as can be fancied, while her sailors are second to none in every valuable quality. Rut the army is unfortunately the hubby-horse, or plaything, a: Court, though it could not stand the shock of a month's contest with any of the great powers in the neigh bourhood; and for this display of dirty red-coats and firelocks the great and obvious interests of the country are neglected. I believe this is far more from habit than design ; for the King—armec, as he is with uncontrolled authority, authority without the shadow of a check, the beau-ideal of un incited monarchy —appears disposed to exercise an influence truly paternal. If he reduced his army front 60,000 to 6,000 men (which 6,000 are six times more than he needs),—if he made his sountry out great free port, and spent on his fleets half of that which lie spends on his regiments, Denmark. whose geographical position is wonderfully As it is, her absurd restrictive regulative. seduce advan tageous, would soon become a kingdom respectable, potent, Pe s e r t r o o o w u r n ts g minimum—the corruption of her custom-house out of the some regulations, cheats bet of half t ah h , tfi ne : r r c e pt trra, :I revenues; her exports and imports are incredibly small, with a reference either to her population or her Senility, and the only matter of wonder is, how such a land should have stagnated into the commercial nuthinguess to which she has. been doomed. She mighl becom e the great depot for the Baltic —the convs.rient warehouse between the South and 'the North ; but he must clo away with her vexatious fiscal regulation*, apply no more of the public money to produce what she can' buy cheaper elsewhere—she must facilitate the settlement of (amigo capitalists—give no longer those privileges and monopolies to the few by which the interests of the many are sacrificed—in a word. she must allow her natural advantages " to work together foi.the good" of her people. without interference, or "let or hiderance." He who writes this bas, as )ou well know, no selfish efid . to serve, and certainly no b. : stile purpose e ith er ton g ed. the Danish monarch or the Danish 'people. Quire the contrary. He highly estimates Loth; butise cannot +hut has eyes on what he sees, . nor re frain from soggpstions which be deems greatly important to the w ell being of the country in which he is a sojourner. 1 1 .