The Sun. — London, England, 1824-04-08 00:00:00

PARIS PAPERS. PARIS, APRIL b.—Yesterday, after mass, the -King receivril the grauld deputations of the Chamber of Peers and Deputies, with the ad dresses voted by these bodies in answer to his Majesty's speech from the throne. CHAMBER OF DEPUTIES, SITTING OP Arum s.—The President took the chair at one o'clock. Several petitions pre sented to the Chamber were referred to the committee on petitions. ' After some other pre liminary bu.iiness, the Minister - of Finance mounted the tribune, and delivered the follo,ving speech : "`Gentlemen,—Several favourable causes have raises' our. Trifles to (Le high rate at which we now see then. • " Among these causes, some—such as the !gate o: our the guarantees given by our institutilns, our punctuality in iulMling ty.•.r engagements, the continued and increasing ac tion of our sinlting fund—belong to us, eiall preserve their Advantages. Others are, in part, foreign to us, and -41(pend upn events. " Our credit still feels the sensible effect of transitory cir cumstances, which, even when they shall have versed to exist, - willieave useful traces, but Of which we must take advattage eschen they are in all their forCe : prudence dictates that we should take advantage of every thing accidental and transitory. Amok; these latter circumstances, .1 shall only advert to the impulse given to the rate of our public funds by the success of our last loan, the operations going on in a neighbouring coun try to reduce the. interest of a part of its debt, the kind of fever for a, ride wfill has seized all the markets where the public hinds of Enrop,e are negociable, and,finally, the mani.a for lend - ing, which has furnished for some time the facility of borrow -44 on any - s . e , .:urhy. Whatever there may be in these alleged • causes, the facts are these : our rentes are above par ; they are evil sold above it under the knowledge of an approaching, re payment, er of .a reduction of the interest to four per cent. They would have riser: to 110 cr 115 if the frankness of the Govern -meet had not made its intentions known in proportion mit con ceived the hopes of realizing them. • " Two special evils.would result to the public interest froin this state of. things : the first is the daily purchaSe.by the sink-. ing fund, that is to sayby the tax-payers, of the rentes at a - rate above par ; the second, the continuance to the State of an interest of five per cent., while the price of the roues would be' such as to give purchasers only a much lower rate. "A per lest administration must look out for the most just and ei.leacious means of putting an end to these evils. You would have a right to charge it with carelessness if it remained indifferent to faots too much connected with the public interests, and. to the des - elopement-of the public wealth, not to merit all its attention. Our reflections on this important matter have I convinced us, that the only means of drawing from existing Cir. -eumstances all that is favourable, was to be able to offer •to the holders of our public funds, bearing an interest of - 5 per cent. the rehnbursernent of their capital, or the conversion of their stock into ese bearing a less - interest. It was likewise a part of -our duty to ensure the means of effectually maltinga repayment if it should - he called for, 'for the justice of the measure as well -as its success rested on this possibility. It was, after 'having acquired this certainty, and when we could assure you that by the means which, we demand of you, its success is - inevitable, - that we present ourselves before you to detail our plan, our reasons for proposing it, and to ask; your assistance in realizing it. ". The perpetual debt of the State amounts to 197,014,892 fr.. of rentes, at 5 per cent.; but when we consider it with relation to the proposed operation, we must subtract from it about 57 millions due to the State, to establishments endowed by the -state, the possession of which is subject to the right of remain- der hi the State, or of which the use is regulated by particular tacit. It would be useless, and even impossible, to -compre-- 4:2mi the c.onversion•of this portion in the general measure.- - Ueeless, hecaose we should only operate on our own interests =impossible, if we must cancel, by a general law, special - laws, the discussion of which would remove us to a great clis- tare::: .from the object in vi ew . Th ere rema ins, then, 140 : - millions of 5 per cent. rentes, which we propoxe, to you to con r;p 1,7.2_,13:::.Le:4A.-4 4 --.-7nvzs - at 3 per cent., or to reimburse if they p - efer it, the holders of rentes, by selling to others the 3 per cents. which they shall have refused. . i " The plan of the proposed law. is conceived in the most simple'terms. Its tendency is to authorise the conversion of the five per cents. intothree per cents., either by the assent of the holders, cr by selling the . three per cents., in; ord.r to pay off the.holders flee per cents. It lays downs the ,linlits with in.which the ;:•,iinister may act, a,nl whiell he must not exceed. The first of t'lf...se limits is that for the interest of the solders. They will all Lave the option betweerl the re. 7 llnbursement of : their nominal 'capital, a: the conversion of their five per cents. into three Pet cents. at Ti francs. • The secncd is alio a ,truarantec for the hohlers—thet th e Illinistzt shall negociate tne three per cents., which they have -refused only at the - sarne rate of 75f.; and a guarantee for the State, that the operation shall only take place in so far as it .shall present, as a result, the reduction of a fifth of the interest on the debt conv:•rted or paid off " The last limit laid down is commanded by necessity. The benefit of the reduction to the pttblic Treasury shall not be de layed beyond January 1, 18.24. " We see nothing in the present state of public affairs which can impede the progress of this operation, if you give it your as.sent. The following are the reasons which have induced us to praer it to all others : To diminish the public burdens by reducing the interest of -our debt to a rate at which our credit enables us to make new ;loans without injuriag its developmient,-but, on the contrary, .to its advantage. Such is the happiest result which we can -draw from circurnstances 7 L-the desirable point which we aiin at reaching. - • " The measure which we propose will procure a reduction of • 20 or 3 h millions, without diminishing the power of the sinking •fund—without aggravating the conditions of new loans, which. -extraordinary wants may subsequently render indispelasable finally, ty effectiag from this momenta realucV,on of the clearge -of the public' debt to-the rate of 4 per cent., and f)y issuing a stock may improve in c a pi+ a l t ill i t on l y bring an interest of 3 per cent., kri;hout being limited in his course of improve ment by the fear of being paid off anew. This measure, there fore, appears to contain, in the manner the most complete, - all the elements of prosperity which can be found in a financial .arrangement. . - • • " But these advantages ought to he r e j ecte d if t h e r i ght of the State to relieve itself by repaying the capital w ere di sput . able—if this repayment. were unjust towards any class of credi tors : finally, if it was not a means of rendering actual circum stances advantageous to the people, who support, in the long run, all the public burdens; if there were, I say, another mode of at taining the same object, without reducing the interest which we pay to the fundholder, and without depriving our credit of the force of continuing to minister to the extraordinary demands which 'a State like France should always be prepared to meet. Is a proof required of the right which we - possess to pay the capital of our consolidated debt ? Let those who doubt coa salt the ancient laws ; let them read the edicts issued for their establishment, the securities issued in virtue of those edicts, and they will find this right always reserved to the State. Let them inquire into the new laws, and they will find that the civil code has formally sanctioned it. Let them consult the language used in making contracts. The title by which. they , have been sold is five per cent. Why state the capital, which e never,demaralable, lanless for the purpose of acknewledeiLg that it may be paid off at that rate ? Above all, the happy Obligation, so to speak, which they have.impoaed upon - us at -the date of our greatest loans, to endow a sinking fund to 're -deem our rentes, would prove -that they not only recognised our topay:oaToui debt at.par, tut eves that of redeeming it, as far as we could, at a rate below that cf the nominal capital at which it was constituted. " Besides, would the idea of a sinking fund, richly endowed, be reconcilable with the impossibility of a general re-imburse ment, when the power of its action has raised the funds to par ? Let the partisans of this opinion remove the difficulties which new present themselves, .and' which Would be felt differently, since the rentes would. lid higher, if we had not announced our intention of paying them.ofa Will they propose to us ier:anni hilate the stnitin . g fund? But this would be to depart froth the system, within which they have fenced themselves ; this WOll ldbe to violate engagements entered into; this would be to destroy the sources of credit for the future. Will they call upon us to suspend its action ? This would be to throw dis order into the system —to make the sinking fund a means of jobbing and speculation, and to deprive the State not only of the right Of paying off its securities by returning the capital, but eve:. of redeeming its debt in the market by paying a price higher than' the nominal capital. This would centlemn us to be always in debt, without ever being able to relieve ourselves: it Would have the effect (after depriving us of the advantages stipulated in the original title, which authorizes Us to pay off) of annihilating the facel!y of redeeming the debt by our sink ing fund stipulated for in subsequent acts. The sinking fund would have only one objecti—that of promoting the interest of the fundholder: it must then stop the moment that it arrives at a point of rendering a service to the State. " The example of countries which have preceded us in the plan of public credit, gives additional force to the proofs of the compatibility of this right with the whole system on which it is founded. • In England, every public fund which is not accom panied with an express clause that it shall not be redeemed, is essentially. redeemable ; and the Minister of that country, who is now giving 3I per cent. to the holders of fours, in order to remove the fear of a new repayment, is obliged to enter into an engagement that he will not exercise this right before a fixed I time. . " Thus our ancient Leta, our new laws, our engagements with oar contractors, the example of other countries, the crea tion of a sinking-fund, every thing unites to render incontestable the - right which we propose to exercise—that of offering to the holders of o ur r e n t es t h e r epayment of their capital, or t h e di. mini; tion of interest upon it. " But is mot the exercise of this right unjust toward some of our creditors ? those, for example, who have already b een re paid two-thirds during , the revolution, and w h o h ave rece i ve d only adepreciated stack, which they could not realize except at an enormous loss--ought they not to b e excepte d from the present measure ? " I should have various answers to give to this Objection, ac =ding as the exception is made an the ground of justice or reparation. W e proposea general measure, and we may justly call it so, although we have not the intention of eperating at present,. except on the disposable rentes • you can at a later period de cede with respect to the others what the • good of the State re quires ; anti you can do this when the first conversion has taken place. It would be impossible to discuss the second question usefully before the disposable part of these rentes has been converted. and while you are yet ignorant of the results of that attempt which we propose to make to 'attain that object; the other, branch of the rentes is adjourned, but not excepted ; it . can be adjourned without danger, because its conversion, if the other succeeds; and the law sanctions it, cannot meet with any• obstacles in the interests of individuals. It would not be so with the measure the consequences of which we are examining; it is a real exception from a reduction which we are proposing to you to apply to all the, individual holders of our certificates, and from which such of these holders as should prove to have been formerly repaid would. be exempt. - " If we should examine the grounds upon which this favour is to be granted to them, we are forced to acknowledge that the only ground for it is, that at the epoch, fatal to so many others, when the State compelled them to receive a repayment, which it had the right to make. them receive, it executed it fraudu lently in depreciated value, so that it used one kind towards Ithose to whom it owed money, and another towards those who had shared in the loss occasioned by the assignees. More for- . Itunate than others, the actual holders of these ancient rentcs have profited, and are still proceeding to profit, by the improYe- ment which the restoration occasioned 'to the value of their ca pital.; would it be fair to grant them the additional privilege of alone holding 5 per cent., when all the remainder shall be converted into 3 per cent. ? or rather should we change their certificates, by allowing them the privilege of changing them., upon terms different from those of the other holders of the same rentes ? But ought the party, who has been obliged to alienate his rentes in consequence of •the pretended repayment of two thirds of than,' to be treated less favourably than tile party to whom that bankruptcy left the means of preserving the lest third even to the present flints ? And does the party who some months, or even the evening before that repayment purehr.s,a at a low price funds sari -eh he saw endangered Ipy a elisas , t i r i o .o u r s measure, does that pasty deserve more . favour than the to ton-qe holder enjoying an annuity for life, cruellyreduced . b a third, without any hope of indemnifying himself by the im provement of his capital ? In examining the question, you will convince yourselves, gentlemen, that it would be rather an act of reparation than an act of justice. The proposition being once reduced to these terms, it will be sufficient to overthrow it to recognize the inutility of our efforts to efface indiscrimi nately all the traces of the misfortunes created by the revolu tion ; in those of the species which now engages our attention, you will find in the first line, without doubt, the holders of rentes whose ruin the State completed, in erasing from the great book the total of their inscription ; in the second, the holders of annuities for life ; finally, those whose perpetu a l reuses have been reduced a third by a fictitious repayment. " 'file injustice of which we are complaining is not the in justice of the present times ; that which wou ld b e cause d b y the exception which i s demanded, would press entirely upon our selves. " I leave with satisfaction this painful part of the task which 42 been imposed upon me, after having proved to you, I hope, On one side the impossibility of repairing all the evils inflicted in a period so different from that in which we have the happi ness to live; and on the other, the necessity of reserving our power of reparation for such of our past private misfortunes as are at present a general misfortune. " It remains for me to examine whether any other method is reconcilable with the maintenance of the actual rate of interest 1 upon our rentes, the only objection which can b e offered to the proposition whiCh.we have the honour of submitting to you. "fhere has been a great deal said about the project of re ducing the amount of the sinking-fiend, instead of the interest of cur rentes. To adopt such a project would be to sacrifice the most valuable results arising from the measure, for the sake of recurring to accidental resources, which it would be very erro neeus to suppose are the principal end.of the operation which we present to you. The abundance of capital and the extension cf our credit have sunk the interest of money to such a degree, - that we can 0f1 , ,:r,• without dan ger , and almost without loss to our creditors, the payment cf the greatest amount of rentes that was ever submitted in any country to a similar operation —that is, a reduction to 4 instead of 5 per cent. upon the interest of cur debt. There is so little doubt as to the success of the measure, that no other mode is left to combat it than by attacking ita le gality or its justice.. I have riot yet heard any person express a doubt as to its practicability. 64 What stronger proof can be given of the fact which, we ad vance, and which ought to decide the w h o l e questi on—namely, that the abundance of capital and the credit of the State is Such that we can borrow at 4 per cent. - in funded stock ? ". In such a situation, ought we to continue to pay 5' per cent. ? Can we do so without failing in our duty towards those who pay it, and whose interests we are bound to defend ? Be sides, if we examine the effect upon all transactions of every kind of the rate of interest paid by Government, we shall re main convinced; even through 'the reduction of this rate should produce no diroinutionin the 'public burdens, that it would still produce a wonderful etl ect i n putting a stop to the unfortu nate ditlerences between the produce o f cap i ta l emp l oye d i n the funds, and the produce of money employed in agriculture, in dustry, and commerce. " Would you give life to these three props of our national 'prosperity, direct the public capital towards them, and endea vour that they shall obtain.that capital at the lowest possible in terest. In order to accomplish this end, cease to put them, by the high interest of your funds, into a competition which they are unable to sustain. " Any plan which will not accomplish, out of existing cir cumstances, a reduction in the interest of the public funds, will fail in the most important point connected with general prosperity. - - • " And do not let us deceive ourselves, the spoliation proposed of the Sinking Fund would not leave the interests of the stock holders so perfectly untouched as is believed. Such a breach of public faith would quickly affect their capitals, and the credit of the State, in a degree which we do not hesitate to declare, for it inevitably would afford equal - subject of complaint to the stockholder, already used to reckon his capital at a high rate of interest, and to the payer of taxes, who would be condemned to furnish fo r ordina r y exigencies 30,000,000 f. more than he wouid have done; and who, under pressing circumstances, would see those loans negociated at inferior rates, which, under a better direction of the operation in question, would have been ziego ciated at high ones. " There is a connecting chain in good as in evil— in the true . as in the false. Enter the right path, and' all your results,are fztunate ; take the wrong one, and every thing turns out ill. " If you reduce the sinking fund to preserve five p er c e nt. to your stockholder s i ns t ea d o f four, it will not be merely five pa cent. that your funds will produce, in competition with your agriculture, your industry, and your commerce; it will be six, seven, or eight, as we have found in situations just simi lar, as regarded our public credit, to that which would be brought on by this violation of the sinking fund. " I have aln.acly observed, that this system would los:. to t,lit fundholders upon their capital all that it gained for them upon their interest ; and let there be no mistake upon that point. The increase of capital testiltina•' from the progress ofour credit and the increase of price in our funds, is a real increase of pub lic wealth—one of the great elementsnaf prosperity of which so ciety at large is entitled to claim the -preservation, because so ciet"y at large participa t es in the benefits of it. Touch the Sinking fund, and you will see, operating for a fall, those crowds of speculators ; to whom it matters little whe ther they act upon a fall or a rise, prbvided that by the move ments which draw the public within their ground they are en abled to play their game against'.the public, with all the advan tageg of dexterity against ignorance. "in the operation which we propose, on the contrary, there are embodied all the advantages which are produced by the happy financial condition at which we have now arrived. We shall have nothing, as it appears, to do, but to gather, without exer-. tion, all the fruits which the wistinn t of the King, and the good fortune of France, have collected for us—to reap all the results. of a prosperous situation. -- You may four rer preth rence i n t hi s convers i on ; P cent., and you owe at five. You off and if they_ refuse it, either from w hi m or from ignorance of ulesto ho c r k r .. o h w ohi a stock-holders their true interests, you have your right to p a y th em o ff, a nd to give other s the b a rgain which they have declined. . " The change once carried into effect, you will have reduced the annual charge of the country 30,000,000 f. You will have substituted, for public funds bearing an interest of five per cent., and upon the value of which the fear of being paid off, or of a diminished action by the sinking fund, will at any time throw the same uncertainty which we observe in the money market at this moment—you have substituted, I say, for these a three per cent. stock, which yo u have put forth at the point of 75 (that is to say, at a price which pays off' the holders of the five per cents. at par, and fixes their interest at four) r but you have freed this fund from the apprehension of being paid off. It must gain 33 upon the 1-00 before you have a right to pay it off; and,. as the nio. - e this new stock rises the more the capital of the country will increase, and the more you will assist the progress of your own prosperity by reducing the interest of money, y ou ought to retain the strength of the sinking fund cautiously, to assist you in reaching. these results. " In fine, Gentlemen., when in this situation you shall be forced to have recourse to your credit, you willcongratulate yourselves at having preserved it in al) its Power; and you will find in the nature of the stock which you have in circulation, the same ad vantages which I have displayed in those which we are propos ing to substitute for the five per cents. If we negotiate a loan of three per cents at 751 it will cost us four per cent. interest, and it will be equal, in real capital, to a negotiation of five per cent. at par. " I think I have said enough to convince the Chamber of the superiority of the plan which we propose over that which some would oppose to it; we shall wait till the discussion to com plete the eianlariations which the. Chamber may desire. I - now read the prcjcet of the law : " Lou, " Single ,elrticle.—The Minister of Finance is authorized to substitute rintes at three per cent. for those already created by the State at five per cent., whether he effect it by exchanging the five per tents. for three per cents., or by paying off - the five per cents. by means of the sale of the three per cents. " The optration shall not be effected but in so far as— " 1. Therashall be reserved to the holders of the 5 per cents. the power of.making their option between the repayment of their nominal capital and its et:inversion into 3 per cents. at the rate of 75. " 2. That :t shall present, as its definitive result, a reduction of a fifth on tie interest of the debt converted or reimbursed. " 3. That the Treasury shall enter on the enjoyment of this reduction of interest on the Ist January, at latest. " The Minster of Finance shall render a detailed account of the operation in the coutse of the first following Session of the Chambers. (Signed) " LOUIS. . "Minister Secretary of Finance, . . " VILLELE." " Given at Paris, &c., April 5, 1824." • [The address of the Chamber of Deputies to the King's speech, though -in general uninteresting, as being merely an echo of the speech itself, contains, nevertheless, the following most important passage in allusion to intended measures for increasing the revenues of the Church, and indemnifying the losseS of the emigrants] : .„. "Four Majesty wishes to close the last wounds of the Re volution. It was for the King, who has already redeemed so many evils, that this great task was reserved. ' your designs shall he aecom " Religion requires, for divine worship, protecting laws : fur its Ministers, an existence more worthy of them. APRIL s. —Five per Cents. 102 f. " Unfortunate fidelity asked nothing, but your Majesty lies. the last tracer of our civil mindfuli:z i n .,l:,:ra o e : : t h ipl e ls iv i h, dissensions." obliterateda;: a • A c n i d ti w s, en 40c. ; Loan of .1823, 161.—Bank Stock, I,94o.—NeaPs alitati 5 ' per Cents., in duc a t s 96 ; in francs, 100 25.—_Renter d'Esp. 204 ; Royal Spani s h Loan of 1823, Mt.—Exchange on Lon don, I month,. 2.5 40; 3 months, 25 20.—( Cour:: ..-Izithentique.) MEXICO. EXTRACT OF A LETTER FRON mr.xrco, DATED JAN. 23, About the 9..1at instant, and the following days, advices were received from General Guerrero, that the rioters at Cuernavaca had fled on his approach, and that in his further pursuit he had overtaken and captured the principal instigators, whom he s e nt t o the fortress of Acapulco, at the disposal of Government. From the private information he sent home, it is said that Government were assured of this conspiracy being but a branch of a more extensive one in the capital itself, and having Gene ral Lobato for its leader, whose purpose was to carry off the 500 ,000 dollars), which he had been an a d t then ap pointed nescort, join his confederates at Cuernavaca, depose the Government, &c. Such are the rumours we have heard, and, from the following facts, they appear probable : The insurgents at Cuernavaca fortunately having been over hasty, and the ramifications of this diabolical affair being traced to General Labato (formerly a shoemaker at Jalapa), lie was to be arrested op the night of the 24th ; but having received infor mation of it, he assembled the few troops remaining in Mexico at his quarters, and taking off the mask, demanded of Con gress, in dictatorial terms, the deposition of two of the three me.nbera of the Executive Power, Michelena and Dominguez, and the expulsion of all Spaniards from public employment ; and, in ease of denial, threatened to leave Mexico with all his troops. It will hardly be credited in Europe, that a fellow, at the head of 500 - or 600 men, not only thus dared to prescribe laws to a whole nation in a capital of 150,000 inhabitants, but that he would actually have attained his object but for the.vigeur and determination of Congress. Though abandoned by the whole of the troops, and though even some of the militia, (amounting in all to about 600 men) had gone over to Lobato's party, they refused to listen to any of his proposals befOre he should lay down his arms, and -continued their sitting for ten hours successively. They finally, when he refused to give way, declared that unless he would lay down his arms instantly, he would be declared a traitor ; the Congress and Govern ment would leave .Mexico in a 'body ; and General Bravo lie nominated Dictator with unlimited power. This brought him at last to reason, and he surrendered, with the greater part of his troops : 22 officers, however, and some soldiers shut themselves up in a barrack, and attempted to hold out; but the latter soon got tired of the business, and delivered up the ' former, of whom the leader, Staboli, an Italian, was condemn ed to be shot this day ; but has eventually, like all the rest, been pardoned. ..... JAreueertY 31.—We are sorry to tell you that the business seems not yet altogether unshed. To 'the mortification of every wellwisher to the country, not one of the rebels has been punished ; instead of shooting them e they have been ex patriated. The first consegderce of this inexplicable lenity has been, that a part of them have fled from here, and, under their leader (Count Mocteruma) have again set tip their old claims in the city of Lerma, and others in the village of Tezcuco, and never will there be an end to these riots unless rigid and severe - punishment is dealt out to the rioters. The Minister Alaman is so much disgusted with these unceasing troubles, that he- has given in his resignation. The Minister of Justice ' la Llane, and the Eife Politico Musquiz, are said to have fol lowed his example, as will no doubt many others. With respect to the Executive Power, it seems very probable that unless they ' I resign they will be voted oat; anti upon the character of • their successors will greatly depend the future state of order in this country. In such an event, we should hope also that Alarnan (the Minister of Foreign Relations), who, we under stand, has been continually at variance, on political topics,with our present rulers, will again be induced to resume his situa tion, for he is decidedly, of all the Members of Government, the most respected by all parties. Lobato remains in the command of his regiment, and Sl.nta has obtained that of No. 3! ! The former has issued ar.oth.a. proclamation, in which he says that he surrendered to Congress only on the condition of his claims being taken into immediate consideration. Now, - with respect to these claims, it must be confessed that they (namely, the expulsion of Spaniards from all public offices) are not quite unreasonable, the country being not only at war with Spain, but the. latter; under do minion of a Ferdinand, is more than likely to make an attempt of regaining possession of the Colonies. The Congress seems to give in to these views ; having declared that the resignation of any Spaniard in public employment will be accepted ; anti Mr. Hervey (the English Ambassador) is likewise in favour of such a measure. Mr. Hervey is treating for a house, for a term of 12 mouths ; and many articles of furniture, &c:. are making for him, BOTANY BAY. About five or six years ago a person of consi derable literary attainments was tried at the Old Bailey for - forgery, convicted, and sentenced to be hanged. He had been led into a " bill business"' by a sr,ang with whom his misfor tunes had brought him acquainted, and was an object of gene_ ral compassion en account of - his former good character, his inexperience, and some features in his case placing him as Much in the light ea dupe as of a criminal. His Majesty was pleased to commute the sentence to transportation for life. A. letter of thanks for the efforts made for the preservation of his life has reached us; and as it contains intelligence of a country, the daily occurrences in which arc but little known to the popu lation,of this country, notwithstandin g the frequent voluntary as well as compulsory visits paid thither, we shall state the Isubstance:— Since his arrival in the country, every order relative to the treatment of prisoners has been of an apparently harsh nature ; but the change has been attributed to the great increase of crime at home, and the consequent increase of prisoners in New South Wales, where, .to say the truth, the evidence of a long course of a l l e e t a ro a poLit T an ick cr e i t m o e f i lt s ,ea b l u e t ,, ux s palpable. Ile received what is c upon reaching his destination_ a document which authorises a person to select any part of the Colony for his residence, and to employ himself as he might think proper; but which the least misconduct, even that of neglecting to remove the hat at the approach of the Giants in power, subjects to permanent removal. The convict's residence in Sydney, in the occasional service of mercantile men, gave him an opportunity of ascertaining the state of the Colony as to commerce; no branch of which is, he says, regular. It is either all bustle or all silence. Ile would, however, have no ob jection to speculate, if he could get the value of his landed property, now in the hands of mortgagees, in England, and he hopes for at least a two years return to England, in order to settle his affairs ; a similar favour having been grauted to a per Son named Chamberlain, under sentence of life, in the Colo Upon first making the shores of A ustrana, he was particularly struck with the uncommon appearance of every thing be beheld. The singular shape and colour of the rocks and trees, the wild and savage looks of the natives, would, even it' the immense dis tance could be overleaped at one bound, convey the most une quivocal assurance of a remote .World. Sydney, however, re vives the memory of past scenes. It has about 14,000 inhabit ants, who are increasing daily ; 1200 soldiers are upon the sta tion. There are public billiard-rooms, and a fine race course. Several of the opulent inhabitants keep handsome equipages, and a degree of splendour attends their entertainments far be yond what might be expected in an infant colony. About 20 or 30 miles in the interior is what is called the Open Forest, which resembles in appearance a Gentleman's Park in England. Here the principal settlers have their grants of land, several having from 300 to 5,000 acres, and some a great deal more. Herds of cattle containing 1,000 head, and flocks of sheep containing several thousands, are not uncommon. The part of country .where the settlers are most numerous is the banks of 11awkes bury. here settlers are for the most part prisoners. The soil here is particularly luxuriant; but it is subject to floods, by which, in a single night, the labours of' the whole year are swept away. But, notwithstanding the frequency of such dis asters, the extreme richness of the ground, the case with which it is managed, and the great profit arising from a good crop, hold out an irresistible temptation to the settlers. At the distanceof 70miles from Sydney, commences that chain of mountains, so long considered impassable, called the " Blue Mountains ;" and across those mountains, at the distance of 50 miles, is the New Country. Those 50 miles present food tbr nei ther man northeast. They are nothing but a barren succession of rocks upon rocks, without blade of grass or track of bird ; but when the traveller bursts upon the country or the plains of Bathurst, his eye is delighted with the most beautiful pro spect, perhaps, on the face of the earth. Thither some of the. most opulent settlers have sent their oxen and sheep to feed, and the returns have always exceeded their expectations. To a convict, the summer appears too warm upon his ar- • rival ; but after a residence of two or three years, no inconveni ence is felt from the heat. He finds the black native an object, which, - although he cannot contemplate with any pride of coin pariSon, decidedly the lowest in the scale of human nature, without house or shelter, except the thick forest, naked, and de solate; and hnngry. In the neighbourhood of Sydney the na tives are harmless, but towards the north they are furious, and it - is not doubted live upon human flesh. The British Go vernment have, however, established places of instruction for the unfortunate creatures, and civiliszation is expected to make some progress. As to the White population, the greater part of them deserve as much the epithet of savage as the Native does. It might be imagined that a population composed of per sons, most part of whom have been banished] from their native country for crimes committed there, cannot but be to a certain extent depraved; but whatever might have been their crimes at home. the great mass of convicts paying the penalty for . life far exceed their former atrocities in the place of punishment. In stead of becoming reformed, they become greater adepts in villany, and are restrained by the unbending energy of the law alone. Yet even legal rigour is here inefficient to the correction of the numerous offenders. Murders, robberies, and conse quently executions, are frequent. Of whatis called the reput able part of the community not much can be said favourably, as it consists of a set of merchants and tradesmen, than whom there is not a more over-reaching cheating gang on the habit able globe. Until lately, religion lies been completely neglected ; but a great change is now taking place. Several Churches and Cha pels have lately been built, and are well attended ; and the rising generation will, of course, profit by this arrangement, however ineffective . it may be with respect to their parents. Bible So cieties also have been formed. As to emigration, to a person possessing capital, this country holds out several opportunities of acquiring property. There are openings for merchants, of Which keen-sighted men may take advantage. Agricultural ists have also a fine field, it' they possess a sufficient know ledge of agriculture, and possess the means. All persons who come to this country, and engage in concerns beyond their abilities, have to contend with difficulties of which they have no idea. Many see themselves much disappointed in having their grants of land at such a distance from head-quarters.--- No land is now given at a distance of less than 70 miles from - Sydney. The desperate banditti, which are constantly prowl ing about the country, form the most terrific objection to the settler.--(New Times.) Ma. THELWALL.—We were much gratified in seeing a much more numerous audience last night at the Haymarket Theatre than on any former occasion, and heartily joined in the ap plause with which the Lecture was attended. Indeed this has been the case during the whole of Mr. THELWALL'S Course, and if his efforts have not been productive of immediate pecu niary advantage, yet they cannot but be attended with eventual benefit; in displaying his powers for acute and solid criticism, and his claims for respect and encouragement as a Teacher, of the art of public elocution. The lecture of last night principally related to the nature and tendency of Lord ByltoN's works, on SUMO PEARE'S King Lear, on the tragety of Othello, and on the respective merits of those who ha - ye performed the part of the Moor, and of Cassio. In the course of his remarks on the former play he paid a due tribute to the excellence of Mr. C. KEMBLE in Edgar, and reviewed the merits of the late Mr. KEMBLE, Mr. 'YOUNG and Mr. MAC.READ t in Othello.— Highly as he ,admired COOKE in general, and popular as. was his lago, - he considered it as too. obviously artful, and .gave the palm to KEAN'S ap parent open manner and unsuspectable by pocrisy. —Mr. : THELwAr.r. spoke with peculiar zeal of SHAKSPEARE'S skill in delineating all the amiable qualities of the female character, and concluded with serious and comic recitations, amidst the well merited applause of an audience whose ap probation was applied with judgment as well as with zealous repetition. The Earl of LAUDERDALD,.who has been seri. ously indisposed, we are happy to hear, is much improved. Mr. Alderman VEN ABLES was yesterday taken suddenly ill at the King's Palace, previous to the commence ment of the Levee, which obliged him to leave the Palace, a a Gentleman accommodating him with the loan of a carriage to convey him immediately home. THE SUN. SOLEiI QUIS InCERE FALSI7.II AUDEir LONDON, THURSDAY, APRIL 8,18 V. From the following intelligence received thi s morning at LLOYD'S, it appears that the previous reports as to the obstinacy of the Bey of ALOE" were well-founded. All accounts concur in re presenting that the fortifications of Algiers hale been greatly strengthened since the memorable attack of Lord Exmou'rn ; and the Barbarians! therefore,probably think themselves secure,in theh: almost impregnable position, from that visitation et British thunder which they have again had th e temerity to provoke. Under these circumstance s ;' it is to be hoped that wileet, sufficiently powerr a to 4demolish their ramparts and to humble the ir arrogance, will be forthwith sent out to joiu the /..., , wer-,v--: gt.. ....l----- 4 , i4-,--.. , -' * ''' Tom, 7 - - - , ?: ' ~- it MASONIC NOTICES FOR NEXT WEEK. • ENG LAND. Monday, April 12, LONDON. Nos. 40. 143, 241, 3 19, , 329, 335. COUNTRY. Nos. 97, 131, 238, 243, 320, 378, 425, 433, 437, 455, 473, 517, 524, 'OA 541, 346, 552, • 553, 3 58, 370, 574, 578, 643, boy , 701, 710: - Tuesday, 13, LONDON; Nos. 23,6•? , 100, 290. 300, 367; 421, 479. CouNTRY. N 05.24, 67,130, 138, 145, 211, 263, 292, 427, 501, 579, 604, 626, 640, 649, 663, 714. Wednesday, - 14, LONDON. Nos. 3, 11 16 19, 29, 47, 08 , 237, 257, 331, 30 . 39 435, • COUNTRY. Nos. 159, 213, 215, 231 ' 291, 314, 344, 440 412, 447, 478, 537, 543, 64i, -66 • Thursday, --15, LONDON. Nos. l. 65, 128, 152, 2 7 4, 383. COUNTRY. Nos. 43,51,113, 115, 171, 288, 416, 420, 451, 453 ' 466, 460, 483, 506, 511, 501, 586, 657, 670. Friday, LONDON.. No. 493. . . COUNTRY. Nos. 28, 30, Z 5, 193, 47 0, 600, 646. Saturday, - 17, LONDON. . * * COUNTRY. Nos. 64. IRELAND. Tuesday, April 13, ,CORE. No. 71. - . . PARLIAMENTARY PROCEEDING; 110(.7.r OF COMMONS. Mercurii,79 die Aprilis, 1824. The House met, and Forty Members not being prevent It four o'clock, Mr. Speaker adjourned the House. • NOTICES OF MOTIONS FOR TFIIS DAY. 1. Mr. Gonlburn-13111 for Draining- and improving Bogs 1 .Ireland. 2. Mr. Curteis—To move that the Minutes of Evidence taken before the Committ ee on t h e Manchester Oas Light BIL L be laid before the. liouse. 3. Mr. Spring Rice—Bill to regulate Courts of Petty Session' In Ireland'. 4. Mr.,Hume-,-Return of Slaves in the West Indies belonging to the Public. 5. Lord A. Hamilton—Return from the Magistrates of th e Burgh of Inverness, as to the Fees demanded on liberation of Prisoners under " the_Act of Grace." C. Mr..Attoney-Generol—Bill to amend and extend the Acts relating to the British Museum. 7. Mr. Cloulburn—Bill to amend the County of Cork Pivi . • mon Act. 8. Mr. Goulburn—Bill to amend the Dublin Civil Bill Act. 9. Mr. Cloulburn—Bill to amend the Dublin Police Act. 10. Mr. S. Rice—Select Committee on Dublin Local Taxation. 11. 111, Lushington—Bill to repeal. the several Acts imposiz'b r fines for damages arising in the flaying of Hides and Skins- ORDERS OF THE DAY -FOR THIS DAY. 1. Usury Laws Repeal Bill—Committee. 2. Qualification of Jurors Bill—Committee. 3. Insolvent Debtors Bill--Third Reading. 4. Beer Duties Acts —Report .thereupon. 6. Rum Duties Acts:—Committee thereupon. G. Wool Importation and Exportation Bill—Committee. 7. Customs (Coals and Linens) Bill—Committee. 8. Gime Laws Amendment Bill—Committee. • 9. County Treasurers (Ireland) Bill—Committee. 10. Records (Ireland) Bill—Report. 11. Juries (Scotland) Bill—Further consideration of Report . 12. J udges . in Wal es Bill—C omm i ttee. 13. Constables Act Amendrnent (Ireland) Bill—Report. 14. Innkeepers Bill—Committee. 15. County Courts Bill (Compensation to Officers of Courts ' - Justice)—Committe e thereupon. 16. Sugar Bounties Act!:—Coinalittge thereupon. 17. Highland Roads Bill.—Second Reading. Dropped Orders of the Das, of Vesterdash I. Land Revenue Sale - 6f Stock Bill—Second Reading. • 2. ProctOri Costs (Ireland) Bill—Committee. 3. Supply—Committee. 4. Ways and Means—Committee. A. County Courts Bill—Committee. 6. Crown Debts Recovery (Ireland) Bill—Committee. PRICE 0. THIS D AY AT Bank Stock 244 3 per Cent. Red. 9sa i 3 per Cent. Cons 9tlhl 34, per Cent shut f i 4 per Cent. Old lOl 1 New ...107i- 103 s_per Cents. 1797 F STOCKS TWO 0 - C LOCK. • India Stock ‘ l llO India Bonds B9i• South Sca Stock ............. Old Annuities Ex. Bills i 7 Ditto Small ................... Bank for Act.. .............. India for Con. Acct. .. ; ... Cons. for Acct. Bank Long An n .. Imp. 3 per Cents. PRICE oF,FOREIGN STOCKS rm LONDON, Arita s, AT ONF. O ' CI:OCK.. f Five per Cents. 103 1 . 1 Scrip, 17 pm. ( Six per Cents. 00. Russian .i Five per Cents. (Metallic) 00. (Ditto New 98A. Five per Cent: Bonds, 9G. Scrip, lq prem. {Five per Cent. Bonds, 1820, 00. Ditto . 1321, 19. - • Ditto 1323,17. Prus4an f• Five 'per Cent. Bond s , 98f. 1 Ditto New, 99i. • , , Bonds ,95i. I ortuguese I. Scrip, 'B3. Danish Five per Cent. Bonds, 1016. Peruvian Scrip, 00. • Chili 84. Colombian Six per Cent: Bonds, 91. Mexican Scrip, 10i prem. Greek - 3 dis. Alliance Insurance Shares-17. - Bank Shares £24 es. Oci, Seven per Cent. 95. -t Six per Cent. 94-102. Five per Cent. 100-102. Three per Cent. 77. French Neapolitan Austrian Spanish American HIGH WATER). Morning, 15 minutt T LONDON BRIDGE TO-31011RO lir ' es after 10. 1 Kvening, 49 minutes after -Vf.