The Sun. — London, England, 1829-11-21 00:00:00

1 I 110.,t0Z. se - (Mr.-Attorney - General ) now moved to set Wide that award, on the ground that it was made on a *rung principle, that the arbitrators had examined Mr. Pi " elle r as a witness in his own cause, and that they had oat decided whether a certain part of the property could bs looped on as fixtures. • The COURT granted a rule to show cause. swAmE v. SIR w. INGLEBY. Mr. GURNItY in this case had obtained a rule nisi for a 11 ' w t rial. The action was on a bill of exchange paid by an agent of the Potosi, La Paz, and Peruvian Mining Com- Nub and the plaintiff had been nonsuited, DINUAN now showed cause against the rule, and the Cu urt refused to grant a new trial. COURT OF EXCHEQUER. CXOWHER V. DAVIES AND OTHERS. The L ORD CHIEF BARON gave judgment i n this cise, W aa a rule obtained a length of time since for a new of Th e groun d s on w hi c h th e ru l e was granted were a technical nature, turning entirely upon the construc tion of a recent Act of Parliament. The Court discharged the rule. CEIALLENOR V. BOOTS. Sir WM. Owxx moved to set aside an execution for 101 ., which had been levied on the defendant's goods. e defendant had paid the amount previously to a sheriff's "6 !ers who had neglected to pay it to the plaintiff. The r s uitiff in consequence entered a judgment. The COURT held that the plaintiff had acted legally, O f, ° Ugh certainly harshly, the defendant paying the money to the sheriff's officer, after he had received notice tl 'Y to pay it to the plaintiff's attorney , did s o in his o tb. W° Wrong, and such payment was not a discharge to action. As, however, it appeared that the plaintiff's I t i tt° rney did not inquire of the sheriff', o ffi cer whether e defe n d an t h a d p a id the money, they were of opinion tiea rule must be refused, without costs. Their Lordships were engaged the remainder of the fog in hearini arguments on an excise case of no metal interest. THE MARKETS.-(THIS DAY). • COVENT-GARDEN MARKET. ti T here Was a good supply at this morning's ma rket, con ' ' -- Nt the frost, and the trade with Vegetables wa s brisk 't t°44 lerably higher prices than on this day sennight. Ca bba s. d. s. d sd. s. d . Di v _ l" (It heads) 16to 4, 0 Spinage (half-sieve) ... 0 6 too 0 ? `. Ited . °ato.. 1 6 3 6 Onions for pickling)... 3 0 4 0 n--- (cwt.) ilr i ;Z i Yadish(bundte) 2 0 3 6 Pears 2 0 5 0 . Csl i ., 4 .. 0 8 1 6 Quinces ,„ . earr c :t,"..., . .. ..... .. ...... 0 9 1 6 Common Plums 1 0 3 0 Eur • • - A . bunches).. 2 6 5 0 Damsons 2 0 3 0 0 i I," 0 9 1 9 Bullace 1 0 3 0 CZ;;;',.,_.'•• .... —•......—.. 1 0 2 0 Span Chesnuts (peck) 5 0 10 (1 Leei;""a or dreens... 1 0 1. trench ditto Sw - ......... 0 9 1 0 Sp anish Haslenuts eet , ............. , 'Serpi 'ranges (W 0)... 2 6 , 0 rench Wa l nu t s 4, l4o e n ?ran ges ...... ...B e 6 0 16 1 0 0 Picked Eld er b err ies 1 6 Filberts (1283.) 3 0 6 0 41glish Walnuts ...... 0 6 1 4 Eng. Grapes (perlb.) 0 6 1 4 HAY MARKETS.—(At per Load of 36 Trusses.) ST. JAMES'S. Coal., heavy £2 2 to £2 10 .W.,,_ e_ Lowland Meadow Hay ty"" Meadow Hay 2 12 3 10 Oeful Old Ditto 2 15 3 8 el 2 Upland Meadow and Rye-grass Hay 3lO 415 Oitl y t t " r kf aY 2lO b 0 -4 w..»..£1 16 to £1 181 Wheat Straw 2 0 2 2 COO SMITHFIELD. .14..2,,,.e heavy Lowland Meadow Hay £1 18 to £2 11 , T `w Meadow Hay 1 16 2 16 1,4,8eful Old Ditto 2 19 3 5 cine I T ei, s , eland Meadow and Rye-grass Hay 3 6 4 0 07" Hay (extra tine)....ts o... Generally 4 . Straw £1 Bto £1 121 Wheat Straw 1 12 1 16 MANUFACTURERS AT LEEDS. (From a Leeds Paper.) We have before us, while writing, a list of the .I n inelpal manufacturing firms of Leeds, with the n umber of looms they have usually employed even u nder the reduced system, the number standing still, I : " t he number in motion. It would be unpleasant -.3 th e parties concerned were we to give their names; We Shall therefore designate them by figures, pledging ou rselves that we possess the real names, and we are quite ready to exhibit them to such of our readers as Stay wish to inspect them : 1%1 ,2. 1-27 looms, 17 standing, 10 at work. 2-30 looms, 29 employed, 2 standing. V , . 3-20 looms, pretty full at work. ' O . 4-200 looms, all standing, but expect to start in a fiw (Lim N O . 5-147 looms, fully employee). N 0.6-50 looms, 48 employed, 2 standing. i k , •7-250 looms, only partially employed. ''3 1 4 • 61 -16 looms, fully employed. 9 --190 looms, rather fully employed. NO . 10--36 looms, 30 standing, only 6 employed. . m ""). 11-130 looms, 60 standing, but 70 of those in tootion only partly employed. NO . 1 2-34 looms, and very few at work. ‘, zu). 13-60 looms, only partially employed. No. 14-26 l ooms i n L ee d s f u lly employed; others at .„ nolbeek, state unknown. •, No. 15-57 looms, all standing. No. 16-51 looms partially employed ; more out of • 1 " 711 , state unkown. No. 17.--47 looms, fully employed. No• 18-59 looms, all in full work. NO . 19-30 looms, 23 employed, 7 standing. °' 2 0-70 looms, all standing. • , 0 * 21-74 looms, 24 wholly idle, and the rest only ` 4 .,,,t N 'y at work. 22-40 looms, 7 standing, 33 pretty fully employed. A`,,,,5 4 23-34 looms, all standing. a l% 24-72 looms, 18 standing still, and the remainder only pa 25.-61 .„, 110 .looms, only partly at work. 26—Between 200 and 300 looms, and 20 men would 11 0 all their work. No. 27—Nearly 130 looms, about one-third at work lad those not fully. N 0 .,.. 2 8-37 looms, working from six in the morn in g " . ne at night, on purpose," says our informant, " to kee „P uP a show of business, their establishment in the en— ' nt rY not being one•tbird employed." • We give the above statement without any reser aticus—it contains, we believe, not only the truth but the whole truth. What is the result ? Leaving ( 1 3 1 1 , of consideration the reduced scale of the este bushments, out of 2,240 looms, the customary num " in bad times, no less than 785 are idle ; and a considerable portion of those are only partially em ployed, while more, it would seem, are worked " to ke ep up a show of work." The small manufactu • . l ' e ts who used to keep from eight to twelve looms g oin g, now only employ about half their wonted n umber. In Leeds alone, though confessedly suffer ing in 'a less degree than most other manufacturing to wns, there are many hundreds of manufacturing operatives out of employment, and a still greater urnber of persons, artisans and labourers of various kin ds, dependent upun commercial prosperity, either b • co pse or altogether out of work, and suffering, in • n usequence all the rigours of want, many of them • also labouring under diseases incident to a state of extreme poverty. Our accounts from several of the neighbouring seats of the woollen trade are even more ;uddeMeti ng . W e h ave a l rea d y a d ver t e d to Il rs -411! there trade is dull, and wages are low. At lax, another scene of " prosperity," according to gut contemporary, matters wear no better aspect. The Princess AUGUSTA, attended by her Lad y in Waiting, Miss WYNTA RD, arrivedat Brighton on uraday morning, in her open carriage and four, front k AT ß'ottilin g , on a visit to Sir WILLIAst and Lady FREE -1.6.771.12 at their residence on the West Cliff. Her Royal L a il u neut partook of a dejeun with Sir WILLIAM and his - "'"Ys and afterwards left, soon after three o'clock, on her return to Trafalgar-house, Worthing. r The Duke of WELLINGTON left town yes seydeaY morning for Northamptonshire, on a tour for T r al day s . Previous to his departure, the Earl of i`rabtsx had an interview with his Grace at the reasu y . Ai i _ h e Austrian Ambassador and the Neapolitan yes terday h a d i nterv i ews wi t h t h e E ar l o f A BERDEEN yes `uaY at the Foreign Office. The Archbishop of CANTERBURY left town Yesterday for his country seat. of The E ar l o f ABERDEEN enterta i ne d th e D u k e Riaa NGTol , z, Mr. Secretary and Mrs. PEEL, and a 'elect party, to dinner on Thursday, at Argyll-house. TheWelave accounts from Naples to 31st Oct. cro. , o f previ„ Olives presents the same appearance as at the advises,us being very feeble in Calabria and Marino, • B m ar id u d i . ing at Tar entcandlklonopoli, and a little better in i t Was good at Lucca, and the prices were falling. UNIVERSITY INTELLIGENCE. OXFORD, Nov. 21.—0 n Tuesday se'nnight Mr. C. M. Newbold, B.A. of Brazen-nose College, was elected Fellow of that Society. The Rev. G. C. Rashleigh, M.A., Fellow of New College, in this University, has been elected a Fellow of Winchester College, in the room of the late Arch deacon Heathcote, by the Warden and Fellows of the last-mentioned Society. _ .._, Thursday last the following Degrees were con ferred : BACHELOR IN CIVIL LAW, GRAND COMPOUNDER. The Rev. W. M. Lally, St. John's College, incorporated 'rom St. Peter's College, Cambridge. MASTERS OF ARTS. H. D. Goring, Magdalen, Grand Compounder. Rev. J. C. Minchin, Fellow of New College. Rev. G. Mason, Brazen-nose. Rev. R. J. Beadon, Queen's. BACHELORS OF ARTS. G. Lloyd, St. Mary ball, Grand Compounder. T. D. Whatley, Michel Exhibitioner, Queen's. R. Dyer, Alban hall, T. D. Brown, S. Pidsley, H. Wybrow, and B. Price, Worcester. F. J. Foxton and R. Bellamy, Pembroke. J. A. Herbert, University. E. Carlyon and T. I. Stewart, Exeter. W. Bailey, New College. GREENWICH VESTRY MEETING. Yesterday a Meeting of the Parishioners of Greenwich, assembled in Vestry, took place at the Schools. The Vestry was numerously attended ; and the Rev. Mr. MATTHEW, the Vicar, took the Chair. Our readers may remember that in the beginning of this year a fire occurred in Greenwich, by means of which what was considered a very desirable opening to the parish church was unexpectedly thrown open; and it was accordingly resolved by the parishioners to treat with the feoffes of the Roan Charity (to which the property belonged) for the purchase of the ground. For this purpose a Committee of five gentlemen was appointed, and various negociations were entered into, in the course of which it was proposed that the sum of 3,1681. should be paid to the Charity for the freehold, and that a sum of upwards of four thousand pounds should be paid to the tenants who had been turned out, for their leases and good will; but on inquiry, it was found that the feoffees had no power to sell the property; and on consulting a Barrister, he pronounced that neither could the Court of Chan cery authorise such a proceeding; in order, there fore, to avoid the expence of an Act of Parlia ment, application was made to the Governors of Greenwich Hospital to assist the proceeding, which it was presumed they had the power to do under an Act of their own. To this arrangement the Go vernors of Greenwich Hospital signified their assent ; but in the meantime, several anonymous placards, and other means had been put into action to raise the notion, that the sale of the property on the terms proposed would be the means of injuring the Charity, and that the probable consequence would be that the feoffees and trustees wonld in some way or another be made liable : these rumours had so far an effect as to in duce some of the feoffees to decline giving their con sent; and Mr. Hammond, one of the trustees of the parish, expressed his desire to resign, though, after some consideration, this desire was not so far pressed as to be acted upon. After some persuasion, how ever, things were brought to their former favourable appearance, when Mr. Hammond addressed a letter to Lord Lowther, the Chairman of the Governors of Greenwich Hospital, which stated that it seemed to him extremely unjust that only a sum of 3,168/. should be paid for the freehold, when more than 4,0001. were to be paid for the leases of the tenants, and that in his belief the consequence would be that the Charity would be materially injured. At the Meeting yesterday a report from the feof fees was read, narrating these facts; and after ex pressing the surprise of the feoffees at the step which Mr. Hammond had taken in writing the letter to Lord Lowther, the RepOrt concluded by stating the determination of the feoffees not to sell the freehold at all. Mr. A. YOUNG moved that the Report of the feoffees should be received and adopted, and printed. A great deal of desultory conversation took place on this head, and finally it was moved by Mr. PENN that a Committee should be appointed to inquire into the mode of indemnitication proper to be af forded to the feoffees for the losses which this Cha rity had sustained. In opposition to this an amendment was moved that it was the opinion of the Vestry that the parish could not, however sorry they might be for it, legally afford the feoffees any indemnification : and, upon the show of hands being taken, the amendment was carried by a majority of 48 to 23. READING SCHOOL.—At a full meeting of the Body Corporate yesterday, the Rev. F. VALPY, A. M. was unanimously appointed to succeed his amiable and excellent father in the Head Mastership of Reading Grammar School,—an appointment which will of course give very general satisfaction. The Rev. SYDNkY GEDGE, of Catharine Hall, Cambridge, and the Rev. Mr. Yourtc, were also candidates, but the latter gentleman resigned in favour of Mr. Val.PY.—Becks Chronicle. Although our excellent Recorder, Baron BOLLAND, has not hitherto intimated an intention to resign that office, it is probable he may do so, from his inability now to attend to its duties. In this case, we understand the friends of our deservedly respected townsman, T. N. TALrouan, Esq., barrister-at-law, have instituted a can vass amongst the members of the Body Corporate, and if the Recordership should become vacant, there is a great likelihood of Mr. TALFOURD'S election—an event on which we should heartily congratulate the town.—Berks Chronicle. Mr. CARNE'S new work consists, we under stand, of Recollections of Travels in Syria and Palestine, that could not be included in his two volumes of " Letters from the East," to which, therefore, the present may be considered a third ♦olume. Besides much personal ad venture, the subjects described are, the Valley of Zabulon, source of the river Jordan, scene of the Prophets' sacrifice, Valley of Ajalon, sepulchre of the Virgin Mary, scene of the encampment of the host of Israel, village of Endor, cave of Elijah, waters of Mara, and other sacred localities on which the pious mind often dwells in serious meditation. Louis xviii.—The Private Memoirs of the Court of this monarch, announced for immediate publica tion, are said to be written by a Lady who enjoyed his particular confidence. They relate, it appears, to that eventful period which immediately preceded and followed the Restoration of the Bourbons to the Throne of France, after an exile of more than twenty years, and they disclose the secret intrigues during that time of the most intriguing capital in Europe. Almost every person of note in France, since the downfall of NAPOLEON is, we understand, por trayed in the Work. It is said that the inventor of the new prop, for preventing the upsetting of stage-coaches, intends to al it the " Sadler," in compliment to a gentleman who is looked up to by many as a prop to a falling state.— Morning Paper.—[Would it not, in reference to the same gentleman, be more appropriately denominated the "Stumbler?"] It is rumoured that the lion. C. LAW will become a candidate for the Itecorderahip of London, in the event of a vacancy. — Morning Paper. A somewhat warm correspondence is said to have recently taken place between a Noble and Reverend Peer and hie Diocesan, on the subject of non-residence, and which is likely to see the light; the Bishop is represented as having throughout the best of the argument. In Lanark, as i❑ almost all the other towns dependent on the weaving business, work is now more plentiful, but as no rise has taken place on the price of webs, the weavers state that their circumstances are yet far from being comfortable.— Scotsman. CORNWALL.—A baker at St. Austell, being lately asked how it was his penny loaves were so stni.ll, in proportion to the present moderate price of corn, re plied—" I wish every one to have a little."--Plymouth Journal. ON THE PRESENT ST Tr OF THE sent year, the fliT.rence rose from 51 to 10 per cent., and fell b k a, ,in in October to 5 per cent. That the pr .per value of these Inscriptions, as perpetual apinnitirsi, is not yet felt, is rendered more apparent by the eirru,nstance that the late 5 per Cent. Itubsian Loan, contracted with Hope and -Co., of Amsterdam, which is redeemable at par, and the interest of which is only payable in annual rates, is not lower. loan was made at PUBLIC FUNDS (From the Berb'n Slate 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 lonz a rich source of - profit to annuitants and stockjobbers. This source, however, must necessarily 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 con ditions imposed by the lender, is now transferred to the latter, who finds it convenient to put up with a considerable reduction of the rate of interest, in order to avert a threatened repayment of his capital. The public securities have, solely by their own operation, produced this favourable change, which has not only been already turned to advantage by several provinces of Prussia, and particularly by the city of Berlin, but the impending influence of which is indicated by the money transactions of some of the greatest European States, since the immense masses of capital represented by the Government paper of different countries can find no opportunity for investment cxept that of being laid, out at interest. On this circumstance, and not on any substantial resources which do not sufficiently exist, depends the power which, in modern systems of finance, enables the debtor, step by step, to obtain an advantage over the creditor; and so strong has been the ten dency of public securities in this direction, that the first bold project for a reduction of interest on a great scale,: formed at a time when the current price did not lead to such a measure by a natural course, a time when Villele's project fur the reduction of the French Rentes was in full activity, but as only I 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 Rentes. Now, though the existing French 3 per Cent. itentes 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 distant but steady progression. How- ever, these Obligations, according to their present price, secure to the holder 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 5 per Cent. The Berlin Stock Exchange is at this moment the centre whence an impulse is given to several funds of foreign states, the p4oices of which have constantly here a tendency to resolve into an equilibrium with the price of the Prussian National Debt Certificates, which had for a time reached a fixed point at par, and which are at present only 1 1-6th per cent. under it. In a tabul.jr view of the course of the most im- portant funds, subjoined to this essay, interest at 4 per cent, is taken at a proportional rule, according to which the gradation of the course is to be determined. In this table the 5 per cent. redeemable effects form a particular class, because their higher price above par may be held to indicate 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 Aus tiian 5 per Cent. Metalliques with the Anglo-Prussian Obligations. It is further to be considered, that the Prussian National Debt Certificates being lower than the French and English 3 per Cents., is a circumstance which must be ascribed to the great value of the denominative capital of the latter. A distinct class is besides formed of public securities, repayable at axed terms, with a premium, to which the skewed the possibility of the execution by its imme diate operation. Villele's celebrated plan for the conversion of the French 5 per Cent. Reines into 3 per Cents, afforded, however, only a distant pros pect of rapidly raising the course of the funds to the height which the plan required. Indeed the scheme was too rashly brought forward, even upon a perfect certainty of its practicability, to promise a sufficient advantage to the state. By the conversion of the 5 per Cent. R,entes, into 3 per Cents. the holders were to be indemnified by an augmentation of capital to the extent of 33i per cent. Thus the State was to gain only 1 per cent. annually on the interest, but even this advantage was nearly wholly counter balanced by the extraordinary magnitude of the French Sinking Fund, which was then in a situation to extinguish the reducible national debt of France in twenty-one years, at par. A large sinking fund not only diminishes the advantage obtained by a reduc tion of interest, by limiting the period of its opera tion, but also causes a rise of price, which has in a certain degree an unfavotnaAe counteraction. Now calculation proves that twenty years' saving of in terest at 1 per cent. would be to a trifle absorbed by the sinking fund, if during the same time it were, instead of operating on the 5 per Cents, at par, to be applied to the redemption of the 3 per Cents. at the average price of 87k per cent. The optional conversion, afterwards arranged with consent of the Chambers, was better adapted to this object, as there was thereby created, only provisionally, in connexion with the milliard granted to the emigrants, upon the whole a 3. per cent. debt, to obtain for the advantage of public credit a fixed rule towards a comprehensive reduction of in terest. 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 rente in the French 3 per Cents. is 27 1-sth, and in the 5 per Cents. 21 3-sths ; the price of one rix-dollar an nual interest in the' Prussian Debt Certificates is nearly 25, while that of the same amount of interest in the Anglo-Prussian Obligations is about 20. The influence of this kind of difference has, within the last few months, begun to operate on the Austrian paper. There lately appeared suddenly in circula tion 4 per Cent. Obligations of old and almost far gotten loans, and these securities soon rose to a price, which, with reference to the interest they bore, far surpassed the 5 per Cent. Metalliques. The new loan of 20,000,000 or 25,000,000 of guil ders may also be mentioned in connexion with this topic. That financial measure must not be appre ciated solely by the stipulated price; for that price, which is kept up against the current rate of the 5 per Cents., notwithstanding the disadvantage of the rise of the capital has been diminished by the con temporaneously arranged limitation of the sinking fund, does not at first appear advantageous to the State, but seems rather calculated to obtain the before-mentioned certain rule for public credit, with aview to the future introduction of a new and grand financial operation. The case is different with the Russian 5 and 6 per Cent. Inscriptions, the prices of which kept pretty nearly in the relation of their respective in terests. In fact these funds, in consequenee of the express condition by which the holders never 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 Hamburg certificates for Russian 5 per Cent. Inscriptions in the year 1825 wire long quoted at 3 per cent. below the Prussian National Debt Certificates; they afterwards rose to an equa lity, and fluctuated within that boundary until the war with Turkey produced a fall. The greatest declension, which amounted to about 4 per cent., took place in June and July last, when they were left much behind on the rapid rise of the Prussian Debt Certificates. On the conclusion of peace, however, a complete change took place, and they are now 3k per cent. higher than those certificates, if we take into account the settled value of this paper in Berlin, which is at the rate of 100.91 rix dollar for the silver ruble, and compare that with the real worth of the 100.91 rix dollar. Compared with the Austrian 5 per Cent. Metal incitement of higher gain gives a peculiar value. As, however, that gain only accrues to individuals at the ex pence of the whole community of the persons interested, and as such funds are therefore far front 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 Obli gation, 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 5 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 4 per cent. annual interest, which, according to the pre sent calculation of the par, appears proper, produces a difference, which becomes the greater in proportion as the sinking fund belonging to the plan operates tardily. How far the funds of great States may depart from a position corresponding to a fundamental interest of 4 per cent. is exemplified in a striking degree by the course of the 3 per Cent. English Console, which only yield an in terest of 3 1-3 d per cent. without any considerable sinking-fund operating on them, and giving a considera tion to the nominal capital. If the cause of this be, that in England the profit on merchandize and the general rule of interest is lower than in the other countries of Europe. it must be allowed that 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 interest, and thus become a powerful engine in giving a new and extensive activity to trade. In fact, the relation between labour and tranquil enjoyment is essentially expressed by the rate 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 securi ties injurious to the State, because the sinking-fund is thereby obliged to purchase at a higher rate, overlook not only the influence just mentioned, but also the direct ad vantage which the finances derive from a reduction of in terest. To the traffic in public securities,—much as it has been declaimed against on account of partial abuses and contradictory phenomena,—belongs the merit of hav ing 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 at first procured from the lender, cannot be recalled. This condition is rather an imperfection, which attaches to private cre dit ; tho State, on the contrary, having a much more elevated and universal existence, never fails to obtain a competition of capitals, whereby an infinitely more prompt and convenient realization takes place. Even the tempo rary fluctuations are in this way no obstacle of importance, as money can always be easily borrowed on public securi ties, and especially on domestic paper. The price of public securities is besides in reality no thing else than the manifestation of the constant change of value to which all kinds of property and objects of com merce are liable. The holder of public securities is there fore in this respect not the lender of an unalterable capital. but participates to a certain degree in the relations of the owners of other property, in a sphere, however, in which the course of political events, which affects all relations, directly manifests its influence. Upon the whole, the vast extent to which public securities have in the present times been carried may be regarded as a great historical indication. It is the decided and unceasing tendency of the age towards a universality of system, which here shows itself. The impulse towards the raising of public credit through generalisation of value and its own movement, produced long since in Prussia the excellent system of pawn-certificates, the advantage of which is still not sufficiently understood in other countries. The modern national debt system has the effect of bringing into operation the potentiality of those relations 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 ne cessarily a sign of poverty and depressed trade, so it may be presumed that the magnitude of a national debt is also not in itself an evil ; it may indeed rather be presumed that the wants out of which it has grown would have been satisfied in some other way to the disadvantage of the country. Public credit "is therefore justly regarded as a most important power which it is the duty of Govern ments to create and preserve by every means, and more especially by the guarantee of publicity joined to economy. With regard to the traffic in public securities, that is an affair which, as experience has proved, is best left to take its oavn free course, in which a counteraction to its incon veniences will always be found. At the same time, the State must take care not to create ideal values, or to give, by unhealthy incitements, like lotteries, such an undue en couragement to dealings in paper as would make the trans action degenerate into agiotage. ACE IN THE COURSE OF CERTAIN FUNDS SINCE RY, 1828. liques, the Russian Inscriptions were, in 1825 and 1826, at least 10 per cent. lower, and about 7 per cent. in the greater part of the s ear 1827. In the period between January, 1828, and April of the pre- VIEW OF THE CHANGE WHICH HAS TAKEN FL JANUA Rise. 26 Date. Price. Date , . Price. 1 ---- -,---- 5 per Cent. Anglo-Prussian Obligations, 1818... Berlin . ..... .., 3 Jan., 1828 99% .... Oct., 1829 104% 4.88 perceni 3 per Cent. English Consols ( London - 84 20 - 89%* 6.54 - 4 per Cent. Bavarian Obligations Augsburg; 3 - 9414 20 - 10014 6.63 - 5 per Cent. French Rentes Paris 2 - 10014 • 20 - 108 3-20 0 '7.88 -.. 4 per Cent. Prussian National Debt Certificates Berlin 3 - 87 26 - 98 5-6 13,69 21 per Cent. Dutch Stock 'Amsterdam... 1 - 52 24 - 10 14.29 --.. 5 per Cent. Austrian Metalliques Vienna 2 - 88 13-16 21 -.., lON 16.25 - 3 per Cent. Russian Inscriptions in Hamburg* Certificates - 102! , 4 18.40 - 4 per Cent. Polish Pawn Certificates Berlin „„ 3 .... 79% 24 - 91% 18.64 - 5 per Cent. Neapolitan Stock Paris 2 - '74 20 - 88. 18.92 - 3 per Cent. French Rentes Paris 2 - 67 1-5 20 - 81 13-20• 21.50 - 3 per Cent. Anglo-Danish Obligations Hamburg 4 - 56% 24 - 69 15-16 13.24 - • After deduction of the interest includad in the price. . . VIEW OF THE PRESENT STATE OF THE COURSE OF CERTAIN FUNDS IN BES,PECT TO THEIR PAR, CALCULATED ON THE BASIS OF 4 rEP, CENT. INTEREST. Par. I Calculated at I Price. I Under par. Over par. A. 5 PER CENT. REDEEMABLE FUNDS. I Per Celit. Per Cent. French Rentes . Bavarian Oligations 123 'Augsburg .1.,v. 103 1 1 17.20 Austrian Metalliques Dutch Russian Obligations Anglo-Prussian Obligations, 1818 I gedin gltix-dolars per £ sterliug. 104% 19.19 B. 4,3, 2% PER CENTS. AND UNREDSEM ABLE FUNDS. 1 E1 00 ? 34 .413,20 .. it l' 37 3 per Cent. English Consols .., '7s 'London 3 per Cent. French Rentes - .. . 4 per Cent. Bavarian Obligations lOO Augsburg 4 per Cent. Prussian National Debt Certif. 100 Berlin ..„., ~. . . u,,,08 5-6 1.17 2% per Cent. Dutch Obligations 9 per Cent. Anglo-Danlsh Obligations 75 Hamburg... 14 Marks Banco per £ sterl. 69 15-16 6.75 4 per Cent. Austrian Metalliques 5 per Cent. Russian Inscriptions in English 132 Certificates , 5 per Cent. Russian Inscriptions in Ham .. I -., 102!i 20.06 burg Certificates Last rate pay- Par on Nov. 1. C. LOAN SHARES. able. Hesse Darmstadt Partial Obligations Austrian 100 Guilder Shares 'June 1, 1810 1( 0 38-100 florins in 20 guilders :: 174% B.9ti B a den Partial Obligations 'M arc h 1, 1844 72 1-10 florins in 24 guilders ...... 18 8.32 Austrian Obligations "' ( Jan. 1, 1848 318 3-4 florins in 24 guilders 33ln 3.95 1 lolish Obligations .,,,!May 15, 1854, 3<4 2-3 Polish guilders 2.25 HUNTING INTELLIGENCE. APPOINTMENTS FOR THE ENSUING WERE. The Cambridgeshire Hounds, on Monday, at Hanley Wood ; and Friday, at Ciiilderl,y• gate—at Half-past Ten. Mr. Mare's Fox hounds, Tuesday, at Stowlangtoft Spinney ; Thursday, at Kennet Bell; and Saturday, at Burt °ugh Green—at Half-past Ten. Earl Fitzwilliam's Hounds, on Monday, at Ashton Weld; Wednesday, at Hammertoe Grove; and Thurs day, at the Kennel—at Ten. The Puckeridge Hounds, on Monday, at Gilstane Park ; Wednesday, at Peverells; and Saturday, at Watton —at Half-past Ten. The Brighton Harriers on Monday, at Patcham; Wed nesday, at the Race Course ; and Friday, at the Dyke—at Half-past Ten. The Brookside Harriers, on Monday. at Newmarket- Hill ; Wednesday, at Ashcombe, the alternate Wednesday at the Kennel ; and Friday, at Telscombe Tye—at Half past 'fen. The Royston Harriers, on Tuesday, at parkway Toll Bar ; and Thursday, at the Thrift—at Half-past Ten. The Doddington Harriers, on Tuesday, at the Kennel; and Friday, at Lewin's Firs. The Earith Harriers, on Tuesday, at Dog House Drove, Wilburton ; and Friday, at Swavesey Mill—at Ten. The Cottesmore Hounds, on Monday, at Pickworth Town ; Tuesday, at Witchley Warren ; Thursday, at Park House; and Friday, at Leesthorpe—at a Quarter before Eleven. Sir Richard Sutton's Hounds, on Monday, at Fading worth Grange ; Tuesday, at Welton Mill ; Wednesday, at Brattlehy ; Thursday, at Half-way House, on the Newark road, and Kenwick-thorn Bar ; and Saturday, at Stapal ford Moor—at Eleven. Lord Yarborough's Hounds, en Monday, at Bradley Wood ; Wednesday, at Kingsforth House ; Friday, at Bly borough Hall ; and Saturday, at Swallow Cross-roads— at Eleven. Lord Petre's Fox Hounds, on Monday, at Ingatestone hall ; Thursday, at Woodhatn ; and Saturday, at Stanford le-Hope—at Half-past Ten. The Sotnersetshire Subscription Fox Hounds, on Tues day, at Raleigh's Cross ; and Friday, at Lee Cliffe. Lard Kintore's Hounds, on Monday, at Buckland Cross Roads ; Thursday, at Balking-green; and Friday, at Whit teuha m Woods. Mr. Horlock's Hounds, on Monday, at Limpley Stoke ; Wednesday, at the Gatcombe Wood, Christian Mallard -at Half-past Ten. The Conoek Harriers, on Monday, at St. Anne's Hill ; and Friday, at Haskings's Penning—at Eleven. The Worcestershire Fox Hounds, on Tuesday, at Crow's Nest ; and Friday, at Churchill—at Half-past Ten. Mr. Boycott's Hounds, on Monday, at Spittle Brook ; and Thursday, at Chillinton—at Half-past Ten. Mr. Dansey's Hounds, on Monday, at Saddlebowhill ; Thursday, at Englate's-gate ; and Saturday, at Newnham turnpike—at Ten. The Shropshire Fox Hounds, on Tuesday, at Chet wynd Park; Wednesday, at Uffington Village; and Fri day, at the Twemlows—at Half-past Ten. Sir Richard Pulleston's Hounds, on Monday, at Over ton Cross; Wednesday, at Overton Scar ; and Friday, at —at Eleven. Mr. Wicksted's Fox Hounds, on Tuesday, at Crewe ; and Friday, at Hankelow—at Half-past Ten. The Cheshire Hounds, en Monday, at Barr Bridge ; Wednesday, at Shavington ; Thursday, at Marbury ; and Saturday, at Wrenbury—at Half-past Ten. Mr. Jolliffe's Hounds, on Monday, at Platt's-green ; Wednesday, at the Bell, at Outwood ; Thursday, at Nut field Marshl; sad Saturday, at the Hermitage, Walton Heath—at Eleven. _ _ The Surrey Fox Hounds, on Monday, at the Half Moon, Godstone-road ; Thursday, at the White Lion, Lock's Bottom ; and Saturday, at the King's Arms, Wes terham—at Half-past Ten. Mr. Meager's Harriers, on Monday, Wednesday, and Satui day, at Pet-place, Croham—at Half-past Nine. The Sanderstead Harriers, on Monday, Wednesday, and Saturday, at Sanderstead Village---at Ten. Mr. Drake's Hounds, on Tuesday, at Islip Town End ; Thursday, at Middleton Toll Bar ; and Saturday, at Traf ford Toll Bar—at Half-past Ten. The H. H., on Tuesday, at Hinton; Thursday, at Nutley Church; and Saturday, at Chawton-house—at Ten. Mr. Allen's Hounds, on Monday, at Gayton ; and Fri day, Snettisham Red Barn—at Eleven. Mr. Foljambe's Fox Hounds, on Monday, at Clayworth ; Tuesday, at the Jockey House ; Wednesday, at Connisbre' ; and Friday, at Grove—at Half-past Ten. Sir John Cope's Hounds, on Monday, at Swallowfield- place ; Tuesday, at De la Bere ; Wednesday, at Buckle bury; and Friday, at Burderop—at Half-past Ten. Mr. Shawe's Hounds, on Tuesday, at Coleshill Hall ; and Friday, at Fisher's Mill—at Half-past Ten. Mr. A. Smith's Hound•, ou Tuesday, at Everley; Wed nesday, at Woodhouse ; and Friday, at Shoddesden-gate —at Eleven. His Majesty's Stag Hounds, ou Monday, at Maiden head Thicket ; and Friday, at Longford—at Half• past Ten. The Craven Hounds, on Monday, at Minal Border ; Wednesday, at Welford House ; Friday, at Adbury Lodges and Saturday, at Rockley—at Half-past Ten. The Earl of Harewood's Fox llounds, on Monday, at Spacey House ; Wednesday, at Wothersome ; and Friday, at Newton—at Ten. The Badsworth Fox Hounds, on Tuesday, at Bads worth ; Thursday, at Cudworth Village ; and Saturday, at Nostell Park—at Ten. The Duke of Rutland's Hounds, on Tuesday, at Her ring's Lodge; Wednesday, at Croxton Park; Friday, at Weaver's Lodge ; and Saturday, at Belvoir—at Hall-past Ten. The East Sussex Fox Hounds, on Monday, at Newtim bar ; Thursday, at Plumpton Plain; and Saturday, at Jevington—at a Quarter to Eleven. Mr. Osbaldeston's Hounds, on Monday, at Misterton ; Tuesday, at Thornhy ; Thursday, at Duston ; and Friday at Sulby Abbey--at Half-past Ten. The Duke of Grafton's Hounds, on Monday, at Greens norton ; Wednesday, at Drayton Cross-road ; and Satur day, at Castle Thorpe—at Half-past Ten. The Blacktnoor Vale Hounds, on Tuesday, on Stock House ; and Friday, at Milborn The Keinpstone Hounds, on Monday, at HarpleyMill ; . - . Wednesday, at Mr. Wright's, Rougham ; and Friday, at Newton George—at Eleven. Mr. H. Villebois's Harriers, on Tuesday, at Northwolt Mills; Thursday, at Barton ; and Saturday, at Swaffham Race Course—at Eleven. Mr. Berkeley's Hounds, en Monday, at Twin Wood ; Wednesday, at Clifton Spinneys ; Friday, at Melchbourn House ; and Saturday, at Odell Castle—at Half-past Ten. li The Montgomeryshire Fox Hounds, on Tuesday, at The Cock, Forden ; and Friday, et Brongwyn—at Ten. The East Kent Hounds, on Tuesday, at Waldershare and Friday, at Ashley—at Ten. H. IL on Thursday, at Abbotstone Down ; and Satur day, at Medsted Green—at Ten. The New Forest Hounds, on Thursday, at Iloldrewood ; and Saturday, at Paultons—at Half-past Ten. Lord Anson's Hounds, on Monday, at Newnhatn ; Tues day, at Deep-dale ; Thursday, at Shuckburgh Hill ; and Saturday, at Frankton Wood—at Eleven. The Quorn Hounds, on Monday, at Stanton Wyvill; Thursday, at Kettleby ; and Friday, at 13,;nny Park—at Eleven. Mr. Meynell's Hounds, on Monday, at Foston; Thurs day, at Willington ; and Saturday, at Holly Bush—at Ilalf-pa:s Ten. - The Doxford Fox Hounds, on Wednesday, at I,iit.urrt and Friday at Akeld—at Nine. York City Harriers, on Friday, 0 Aoaster—at Half past Ten. The Rorotighbridge Harriers, on Friday, at Rooker Hill „at Half-past Ten. The Morpeth Harriers, on Thursday, at Horton Grange ; and Saturday, at Cottingwood—at Ten, The Ridgmont Harriers, on Thwaihy, at Green Barn gate; and Saturday, at Slaw Place. Sir T. Sykes's r.ox Hounds, on Wednesday, at Lolaster Holm; 4nd Friday, at Rudston—at Ten. The Marquis of Cleveland's Fox Huttada„ on Wednesday, at Fickbill ; Friday, at Snap, ; ac,d Saturday, at Brough —at Eleven. The York mid Aitasty Fox Hounds, on Thursday, at Red flouze ; toad Saturday, at Whixley—at Half-past Teo, The Ilutworth Fox Hounds, on Friday, at Neasham —at Ten. The Hatnbledon 'founds, on Wedneaday, at West End Telegraph ; and Friday, akt Westmeon Hut—at Half-past Ten. The Waruriashire Hound+, on Monday, at Wood ; Tuesday, at Wolford Wood ; Thursday, at 131 Itchington ; and Saturday, at Upton llouse—,z s t liar-paw Ten. The Holderness Fux Hout44, on Thursday, at Wass ; and Saturday, at Wal!..ington—at Elever. Thn Lsmbton Fox Hounds, on Thursday, at Little Stainton ; and Saturday, at Fishburn—at Eleven. The Cleveland Fox Hounds, on Thursday, at Dale House—at Ten. The Sinniaron Fox Hounds, on Friday, at Ric& Bridge —at Niue. Mr. Lester's Harriers, on Saturday, at Corfe Hills. Tl.e Vine Hounds, on Wednesday, at Ashe Warren Farm ; and Saturday, at Praulley—at Teg, SPIRIT OP THE PUBLIC JOURNALS. Our Dublin letter of this day goes over some of the old grounds of Irish uneasiness, among which stands conspicuous the administration of justice by country Magistrates, which, even when by accident correct, has seldom the good luck to he satisfactory. It seems that a Catho lic of the name of Delaney had been deprived of a gun by individuals personating policemen. one of vvhom turned out to be an unauthorized neighbour of his own. This man was after wards arrested ; but he was detained in the po lice-office for ten days before the examinations oE Delaney were sworn, and the transgressor (by name Ince) committed to prison. The state ment proceeds to say, that on a certain evening Delaney received a summons from a Magistrate who had taken his original deposition in him case, to attend him the next day, and give fur; ther evidence touching the same transaction but while Delaney was about to attend the Ma gistrate, nine policemen are represented to have be4t his house, making prisoners of him, his wife, and children, and confining them all sep:i rately, with a view to their being examined. Amongst a considerable number of Magistrates who came, some of them from a distance, to take a part in these examinations, was Lord De Vesci (a Nobleman, we believe, of high respectability and character). Delaney's wife was examined, and nothing more appears to have transpired, when our correspondent sent off his letter, than that Ince was still in prison. Then comes the usual dose of " dissatisfaction" at the opposite modes of conduct pursued by the Justices with regard to Protestant and Catholic offenders, to the latter of whom the strictest measure of legal severity is always shown, while the former expe rience every possible indulgence from the Ma gistrates, and are never committed, much less ex posed to punishment, until the most active ex pedients have been had recourse to, to discover some outlet for their escape. We really cannot find, on the face of the above proceedings, in so far as our Dublin letter has described them, the smallest justification of such surmises and indi rect reproaches against the Queen's county Ma gistrates. Lord De Vesci, we understand, is not a person to deal out inconsistent measures of justice to men because they have different creeds. It is probable that some important com munication had been made respecting Delaney, which subjected him and his family to a second investigation ; but it is only throwing away fire, to condemn authorities, as such, before they have been convicted of abuses. It gives us much pleasure to see the anti-union drama sink ing quietly into a dull farce.— Times. Several of the witnesses examined by the Commissioners for enquiring into the Law of Real Property express the opinion that primo geniture is best suited to a Monarchy. Mo narchy itself, however, like every other Govern ment, must be tried by its tendency to promote the general good, and it is on that ground alone that it has the regard of the people of this coun try. This is, however, a question which we are not called to discuss when trying the merit of any law. Is the law itself beneficial or other wise? To recommend a law injurious to the community, because it is most in harmony with Monarchy, is placing Monarchy in an unfavour able light, without placing the law itself in a good one. We have often thought that the law of succession to real property in this country has very much retarded the improvement of Ire land. In the Dublin Morning Register of Wednesday last there is a letter from Sir Chas. Morgan, in which there is the following passage that bears upon this subject. He is comment ing on a letter from M. Ensor, in a previous number of the same Journal, in which more im portance, he thinks, is attributed to Absenteeism as a cause of the distress, than it is entitled to : —" There are many circumstances peculiar to Ireland which lead men to expatriate themselves. Ireland is neither the focus of business, nor of pleasure, nor of Government; but it is the focus of many domestic disquietudes, from which a reasonable man may wish to remove his family. The number, however, of absentees does not alto gether depend upon such causes, but upon another peculiarity, which concerns the constitution of for tunes. I t is not every man who chuses that can become an absentee. The merchant, the trades. man, the professional man, the manufacture r , must stay at home and mind his cannot go to London or Paris, and 'leave his affairs in charge with an agent. In any country, therefore, which can be considered in a whole some and thriving condition ) , an excessive and 41 moral impossibility. dangerous therou r a i sbisient ees absentee; Pis are matter of complaint and outcry, is but the outward and visible sign of another and more difficult evil—the unequal distribution, of national wealth. The whole riches c‘f Ireland centre in the landed aristocracy ; and whenever that is the case, the people are of necessity paupers. tor the fact itself is a proof that land is the only instrument by which the population can gain their living ; and they must, therefore, give more for it than they ought, through undue competition. If the b cross pro duce of the soil were divid e d i n equa l and just lroportions between l an dl or d, cap i ta li st , an d abourer, the sums exported by the existing num ber of absentees would be so far diminished as materially to lessen the evil; and the portion leis at home would alim,ent the industry of the country, by being expended by 21 class whose wants are const:nit and steady. The peasantry would then be fed and clothed as human beings in a civilised country should ho, and the manu facture of their clothing would employ and feed a numerous class that at present has no exist ence in Ireland, " For it is obvious that this reasoning is not confined to the absentees, but applies p the whole class ofland.holders, present or absent, including, in au extended meaning of the term, tithe owners and place holders, whose emoluments ultimately are derived from the pro ducts of industry and of the soil. To the la bourer it makes very little difference who gets his share of the produce, provided he does not get it himself. The resident landlord, not less than the absentee, receives the difference between his just proportion of the harvest and that which the competition of a struggline , population forces into his hands. Compared with this, the crumbs which fall from the rich resident's table in the shape of employment, and which figure for so much in the calculations of the milers against absentees, go for very little indeed. The reason why so small a quantity of the earth's produce is consumed at home, is not so much the number of absentees, as the high rate of land, and th e charge laid on the industry of the country, which leave the labourer in a state of starvation. The resident landlord is an exporter as well as the absentee, and he sends abroad all that the mar kets at home cannot tale (41' his hands. For this he receives the wine which he drinks him self, the clothes that he wears himself, and a va riety of b forei,n commoditi es w hi c h h e en j oys him self; and by which his tenantry are no more be is ft It I po t tort foi 01, 1 • 0 Ai