The Sun. — London, England, 1834-01-08 00:00:00

consideration of the Legislature, in a comprehensive form, the anomalous portion of that system connected with the Cinque Port pi;otage. But peculiar circumstances attending the measure restricted them to the endeavour to prevent the imposition of any new charges on shipping ; and after a laborious inquiry, and considerable correspondence on the part of your committee, the session of Parliament closed without any attempt at founding a legislative measure on the report. It is, however, satisfactory to your com mittee to refer to a confirmation in that report of the re commendation of the select committee on foreign trade in 1822, that British constant traders, not exceeding 200 tons burden, trading between the ports of Boulogne and the Scaw inclusive, should be exempted from the com pulsion of taking pilots, whether inward or outward bound, and whether entering the river Thames by the north or south channels.' To the whole question the vigilant attention of your commi:tee will continue to be directed. " Your committee have now to advert to the most im portant feature of the whole session to those who are interested in the state and prospects of British navigation. "At an early period of the session a notice had been given by the chairman of this society, in his place in Parliament, of his intention to move for the appointment of a select committee ' to inquire into the state of the Bri. tish commercial shipping interests.' But on the 3d of May, the Right Hon. the Chancellor of the Exchequer having brought forward, on notice, a motion for the appointment of committees of inquiry into the state of agriculture,' and of trade and manufactures,' unexpectedly altered the latter to a proposition for inquiring into the present state of manufactures, commerce, and shipping,' which was adopted. The intense interest excited by the investiga tion is sufficiently attested by the communications received by your committee from almost every sea-port. The re sult is exhibited in the published report of the Select Committee of Manufactures, Commerce, and shipping,' in which is recorded evidence on the state of the shipping interest, given by 25 witnesses from most of the principal ports of the United Kingdom, on 9 consecutive days of meeting, which were exclusively devoted to this portion of the inquiry. The limits of a report wiil not admit of any detailed analysis of this remarkable testimony, nor of any elaborate reasoning on the conclusions to which it irresistibly leads ; but it may be safely averred, that never were opinions more triumphantly vindicated—never were assertions more unanswerably established, than are the opinions and assertions which have been from time to time advanced on the part of the recognized organs for conveying the sentiments of British shipowners, by the concurrent spirit and bearing of the evidence. Many of those important questions which have been most vehemently contested, must now be considered as finally set at rest. The long continued and still existing depression of the shipping interests—the partial production and great aggra vation of distress caused by continual changes in our navigation system—the utter impossibility of the successful maintenance of an unrestricted competition with foreign navigation—the gross injustice of the imposition of pe culiar and exclusive burdens on maritime commerce, for purposes put ely national, while exposed to that competition —the declining quality and estimation of British tonnage —the embarrassment, decay, and ruin of the British shipowner —may now be viewed as incontrovertible posi tions. Nor is the light less valuable which has been thrown on those facts, which, appearing difficult to se concile, have heretofore been insidiously perverted to the detriment of the cause of the shipowner, and artfully adduced to invalidate the truth of his statements. The increasing state of an individual in shipping can no longer be advanced as conclusive evidence that the capital already embarked is profitably invested. Tenacity of pursuit of maritime commerce is shown to be perfectly compatible with long-continued loss, and to afford no prcof of any present prosperity or approaching improvement. Even the production of new ships is proved, from the peculiarity of many of the circumstances by which it is induced, to be by no means inconsistent with the same apparently inter minable depression.' To these inferences front the recorded testimony solemnly given before a Parliamentary tribunal, your committee are especially induced to advert, because if generally known and forcibly urged, they can scarcely fail to exercise a powerful influence on public opinion and cn future measures affecting the shipping interest. That interest, it must now be perfectly obvious, is in such a condition tht, while it will be the part of shipowners tin use every endeavour to adapt themselves to the altered state of the times, and of the relations of the country, foreign and domestic, it must no less plainly be the duty of the Legislature and the Government to afford to British navi gation every relief from burden and restriction that may be compatible with the general interests of the nation, and every protection and encouragement that may not be inconsistent with national faith. ' British maritime commerce will not bear the hazard of further experiments; by which, not merely will its suttees row be compromised, but its very existence endangered. And after the publication of the mass of evidence now referred to, your committee can scarcely doubt the universal ad. mission of the justice of that alternative fur which they have long contended, though under opposition, misrepre sentation, and obloquy,—either that those peculiar burdens and restrictions to which, for objects of national policy, and in which he has no separate or exclusive interest, the shipowner is exposed, should be removed ; or that protection should be extended and continued to him equi walent to the disqualification created by those burdens.' " The strong and universal expectation of advantage to be derived by the general shipping interest from the open ing of the trade with China, induced the anxious attention of your committee to be directed to the legislative ar rangements rendered requisite by the approaching expi ration of the East India Company's Charter. Hence, on the first introduction of the China Trade Bill, it was with disappointment and regret they perceived that power was proposed to be given for levying a duty on tonnage for payment of the consular establishments in that country, which they bad reason to believe it was in contemplation to form, on a scale of expenditure calcu lated to impose an alarming burden on British navigation. Deeply impressed with the injustice and impolicy of such a regulation, your committee omitted no effort by urgent re presentations to the Government and petitions to Parlia ment, and by every endeavour, to remove the unaccount able apathy which appeared to pervade the public mind on the details of this interesting question, to avert the impending evil; but, notwithstanding their endeavours and the indefatigable exertions of their chairman, and a small number of commercial members in Parliament, the phowious provision has poised into law, mitigated, how ever, by the transfer of a portion of the charge to goods imported into, and exported from, China, and by the limi tation of that on ships to bs. per registered ton. Your committee have since been favoured by the Lords of his Majesty's Hon. Privy Council for Trade, with various communications relative to the projected arrangements for giving effect to the law, but perceiving with every renewed consideration, increasing reason for believing that, under any practicable modification, the application of its provisions mutt be almost fatal to the export trade in British ships, as well as to that between China and the continent of Europe, while it could not fail to operate most inconveniently, vexatiously, and injuriously on all tonnage engaged in the general trade, they have felt it their duty to decline offering any suggestions for the apportionment or levying of so impolitic an impost. They have, however, again called the especial attention of shipowners at every principal outport to the subject, and invited the co•operation of the mercantile interest of Lon don, and from the universal expression of disappointment and alarm, and the unequivocal manifestation of a feeling which, if earlier exhibited, might have prevented so ob jectionable an enactment, they are still not without hope that the clause may be repealed, and a provision substi tuted fur the maintenance of an eitablishment for the protection of British interests in the Chinese empire, more constitutional in its character, and less subversive of the ;nterests of commerce and navigation, than this obnoxious tax. "In tbp hope of obtaining some benefit for British al.ipping, an endeavour was made to procure the introduc tion of a clause into the Sugar Refining Bill limiting the permission to refine foreign sugar in bond to such sugar as should be imported in British ships, or in ships of the country of which it should he the production, or from whence imported, but your Committee regret to report hat the iff.rt was ineffectual. On the introduction of the Bill authorizing the pur chatie, at the public expense, of the rights of the corpora.. tion of London to levy on goods imported in the ships or on account of aliens, the duties of scavage and package, your committee considered it incumbent on then to oppose the principle of the Bill ; to this course they were not (as has been invidiously averred) impelled by any illiberal indisposition to the extension of relief to commerce ; but while they could not but view the payment of public money for the abrogation of a municipal impost, on the . . _ grounds of its injurious effects on the local interests of the very city by whose corporation it was imposed, as indefensible in itself, and dangerous as a precedent, while they further considered it as an improvident waste of the public money, that the produce of the tax should first bsigready increased by a temporary act, in the power of Vae Legislature at any time to repeal, and the purchase Ire'tbetr_ calculated on the actual produce so ternpora _'accumulated—it became, independent of these lidefirlions, their bounden duty to protest against the i ry inflicted on British shipping, by the permanent rerooYul of - the discriminating charge imposed oo ..,. goads imported is foreign vessels, expressly for the protection of that shipping. The utter disregard of this avowed object of the duty, when contrasted with the readiness to purchase municipal acquiescence in its abro gation, by a payment of such questionable propriety, did not afford a very favourable indication of a disposition to give just attention to the claims of British naligation ; and although your committee were unsuccessful in their opposition to the measure, they are persuaded that a dis passionate examination of the question from which they are precluded by the limits of the report from offering more than a mere outline, will be found abundantly to vindicate the propriety of the course adopted by them. " Much excitement prevailed throughout the country on the subject of a notice given by the Right Hon. the Vice-President of the Board of Trade, for the introduc tion of a series of bills regulating the commerce and na vigation of the country, and the attention of your com mittee was carefully directed thereto, but, being acts of consolidation alone, they were passed without opposition. " It is with regret your Committee have to notice the failure of their efforts to obtain a mere equitable arrange ! ment of the sale of duties rendered payable under the Stamp Duties Act o❑ policies of marine insurance. The unjust and unexplained limitatio❑ of the relief afforded by the Act to policies the premiums on which shall not exceed 30s. per cent., and the exclusion of time policies from all participatio❑ in the benefit, have deprived the shipping interest of a great portion of the advantages they were led to anticipate ; but your Committee trust the subject will soon again undergo revision, and that the duty will either be entirely repealed, or, at all events, further and more equitably reduced. " Application was made for the assistance of your Committee in obtaining permission for shipowners to take wine as stores for ships' use, free of duty, instead of spirits. Your Committee, conceiving it their duty to give every assistance in their power to the promotion of habits of temperance among seamen, by the encouragement of voluntary abstinence from indulgence in the use of ardent spirits', made accordingly such representations to the Hon. Commissioners of Customs as induced the required per mission to be considerately granted. " Your committee having received an intimation that an honorary distinction had been conferred on Captain Frederick Marryat, R. N. C. B. by his Majesty the King of the French, for his invention of a code of marine signals, and having been applied to by Captain Marryat for their opinio❑ of its merits, deemed it a duty to bear their unequivocal testimony to the important benefits rendered by him to the interests of maritime commerce, and they trust that an invention long adopted in the British navy, sanctioned by the general attestation of the public, and already rewarded by the honourable notice of one foreig❑ Power, may soon be duly and universally appreciated. " Representations have been made to the Board of Trade on the subject of an alleged infraction of the Order in Council relating to the commerce of the British pos sessions abroad, dated 10th of August, 1827, by the practice of importing French wines into the Mauritius from the island of Bourbon, which representations are now under the consideration of his Majesty's Government. " A scientific committee, appointed by the Government, have long been engaged in the consideration of the best mode of altering the Registry Act for the admeasurement of ships for tonnage, and have lately furnished your com mittee with some copies of a pamphlet, containing various plans for a better mode of measurement. These have been forwarded to the principal outports, with a request for the opinion of the shipowners of those places on their respective merits, and the subject will then engage the serious attention of your committee. " The funds of the two registry-books of shipping having proved inadequate to meet their expenditure, a union of the Committees has taken place, and arrange ments entered into for the production of one book for the classification of shipping, on principles intended to be satisfactory to all the interests concerned. The co-ope ration of your Committee being invited, they did not feel justified in shrinking from the task by any consideration of its invidious nature, its difficulty, or the labour it must ❑ecessarily involve. But having been favoured by the united Committee with a draught of the plan they pro posed to pursue, and finding it to include many propo sitions which in their judgment were objectionable, they submitted a sketch of the principles o❑ which they con ceived the classification of shipping ought to be founded. These principles have, after anxious and liberal discussion, been adopted by the united Committee as the basis of their plan, and your Committee are consequently engaged in the endeavour to assist them in maturing a system of classifi cation of shipping property, which, whether desirable or otherwise to shipowners, appealing to the commercial world indispensable, has become inevitable. " Your committee have been reluctantly compelled, by the necessity for a rigid adherence to the regulation inti mated in their last report, to decline the investigation of the merits of a great variety of nautical inventions that have been submitted to them ; they desire to repeat the assurance that this decision is not the result of any in difference to the advancement of science and the progress of improvement, but is forced on them by the conviction of the absolute impossibility of their doing justice to such inquiries, or even bestowing on the multiplied subjects to which they refer, the most cursory attention, without sacrificing the more urgent considerations which continu ally press on their time. They avail themselves of this opportunity for acknowledging the receipt of many valuable publications o❑ ❑autical subjects, particularly of 20 copies of a series of maritime and nsercintile tables, illustrative of the trade and commerce of the British Empire, by William Richmond, E•q., of North Shields." A resolution confirmatory of the report, moved and seconded by Mr. GREY and Mr. SOANO, was unanimously agreed to. Mr. BUCKLE, in moving a resolution of thanks to the committee for their services, begged to congratulate the meeting on the nearly approaching period (1834) when the shipping of the port of London shall be relieved from the obnoxious, because local, and oppressive London canal and dock duty. He hoped the Legislature would he in duced, by the unanimous voice of the British shipowners at large, to abandon the tonnage duty on British vessels trading to China. Mr. Alderman THOMPSON seconded the resolution, which was unanimously agreed to. Mr. CHAPLIN proposed a resolution to the effect of urging the committee to persevere in their endeavour to obtain relief from the Legislature for the British shipping interest, from its present unparalleled distressed condition. Mr. BEA UMONT seconded the resolution. Mr. YOUNG (father of the Chairman) felt that the pre sent was a great national question, and not one solely af fecting the British shipowner. It was as a Briton, and not ao a shipowrer, he gave the resolution his cordial sup port. Great Britain was an island, and as such dependent on its maritime resources. Its navy depended on its com mercial marine, and it upon protection against foreign competition. It was impossible for a country not a conti • nent, like England, oppressed by a debt of 800,000,0001., and with a population the main increase of which was upwards of 1,000 souls a day, to compete with foreigners comparatively free from fiscal burdens, and where labour was cheap and abundant, upon the present free trade terms. Foreigners derived all the advantages of a reduc tion of duty, and would monopolize the carriage of foreign corn, contrary to the doctrine that day advocated in one of the public journals. The theory of going to the cheapest place was untenable—nay, was wicked, inasmuch as the more it was acted upon, the greater the number of our own native-born, working, and industrious people who would be deprived of their only means of employment. Mr. PAL)SIER (mover of the 4th resolution) was a member of the committee appointed to inquire into the best mode of amending the Registry Act, and introduced a classified system of tonnage admeasurement, and hoped that ere long the society and the public would be in pos session of a classified and perfect book of registration of British commercial shipping. It was, indeed, proposed by some theorists that tbey should discontinue, not only the " green book" and the " red book" registries of British tonnage, but all other classified registers ; but besides that, this would appear to foreigners a recklessness, the effect of despair at the prcspec , s of the British shipowners, the result of which would be disasterous to our commerce. It was proposed that surveyors should be appointed to ad measure and report up on the tonnage of all Br i t i sh ship ping, and that these surveyors should be paid by fixed salaries, and not at all by fees or perquisites. An accurate and classified system of registration, which would pay its own expenses, would thus be insured to our shipping trade. Mr. Alderman Thomcsorr said that a uniform and per fect system of registration of tonnage was a long felt desi. deratum in our commercial policy. The shipowners of Sunderland—in which more ships were built than in all the other ports together—justly complained of the present system, under which their vessels were, without regard to age or worthiness, all placed in the second class. All they asked for was a fair and uniform adnieasurement according to the intrinsic qualities of the vessel. The cost of a registry should, to be generallybenefic i a l and to pay itself, be much less than at present. A well-digested registry book would find a place on the desk of every merchant's count. ing-house, and would pay the expense of the surveyors engaged in its production. Thanks having been voted with acclamation to the Chairman, the Society proceeded to ballot for four mem ber s of committee, in the place of those who went out by rotation. VA) •ir • -- *Mt , PRICES OF STOCKS T , { S ;)AY AT ONf' O'CLOCK. Bank Stctx 3 per Cent. Red 89 % 14 9 India Stock 3 per Cent. Cons. ...... ..88% 3 A% Ditto Bonds... :26 241 p 1n . 3k,, per Cent 9N South Sea Stock Ditto Red 974-% 1 1, Old Annuities — tiew 3 per Cent. ...96% 76% New Ditto 3 per Cent. Ann. 1726 .... 3 per Cent. Ann. 1751 1 per Cent. 1826 Bank Long Ann. to expire i Ditto.. ...... ....500 47 48 pm. Jan. 5, 1868 i7 1-16 {Ditto Small Oct. 10, 1859 l7 , Ditto Commercial Jan. 5, 1860 16 13-16: Ditto Advertised Jan. 5, 188 0 — Bank for Account April 5, 1880 — India for Account - Jan. 5, 1870 — Cons. for Account ... 90 , ,'Ji 90 PRICES OF FOREIGN FUNDS Austrian Bonds 98l 8 Belgian Bonds 96 1 •4 Ditto Account 9 6%:. Brazilian Bonds 6714 Ditto Account 67}& Buenos Ayres Bonds — Ditto Account 2t Chilian Bonds Ditto Account 0 3j4 Columbian Bonds 19% Ditto Account — Ditto Bonds, 18247 22;4 q Ditto Account 2214 Danish Bon s — fli Ditto Accruni 73% Greek Bonds Ditto Bonds, 1825. Ditto Account.-- Mexican Bonds, 5 per ccnt 2914 Ditto Account THIS DAY AT ONE 0 CLOCK. 'Peruvian Bonds ~1 4 Portuguese Bonds ')o7/ Ditto Account 56 ! Ditto New Bonds 56% ! Ditto Account 56 YA% Prussian Bonds Ditto Bonds, 18:1 2 !Russian Bonds, 1822 lo4l‘, Ditto Account 104% 1 Ditto 111 ( Spanish Bonds, 1821 0 , 31 . 4 Ditto 1 Ditto Bonds, 18:2:3 Ditto Accotint French Rentes, 5 p. c. —I —c. Exchange —f —c. r----S per cent. —f. —c. I— Exchange !Dutch, '24 p. c. 4 9%13 Ditto Account 5O 497,8 Ditto, 5 13. c 95 kr, Ditto Account q 5%% Fr2nch Scrip Ditto to, A 6 e p c e o r n c n e t nt I BM4 38 14% Neapolitan B9 PRICES OF SHARES THIS DAT AT ONE o'ctocr. Paid. Per Share. Allen Mining Company £7 8 !: Anglo Slex. Olin. Co. (iss. at 5/. pm ) XlOO Bolanos Mining Company £l5O Brazilian Mining Company £s Brazilian Imp. Min. Co. (iss. at 5/. pm.) £2O Ditto National 22% Ditto St. John Del Rey Cata Branca Mining Company N British Iron Mininv Comnanv £so Columbian MininA Co. (iss at 5/.prn.) 5I English Mining Company IN General Mining Association l2 Hibernian Mining Co. £lo 140 15 62 , /, 7 25 9 7 30 124 25 84 Co. Mexican Mining C Real del Monte Mining C 0.... (unreg.) -- 545{ I rated Mex. Min. Co. (iss. at 2/. pm.) 40 12 Ditto New Scrip 5 1431 Alliance Fire Insurance Comp lO 1134 Protector Insurance Comp. Australian Co. Canada Company l7 48 General Steam Navigation Co. National Provincial Bank of England 5 4N Rio Doce Provincial Bank of Ireland 25 391.i 14 PRICES OF IRISH STOCKS, DUBLIN, JAN. 4. Bank Stock —lSt. Patrick Insur.(perShare Consols, 3 ner cent Gov. Stock, 3% per cent. 116% (National Ditto Ditto, New 96% Patriotic Ditto I per Cent — 'Hibernian Bank `'3?ti Gov. Deb. 3 1 .4 percent B9 Provincial Ditto Royal Canal Stock ....,.... —:Royal Irish Mine Grand Canal Stock —lmperial Mine City Deb. 4 per cent. —lMining Co. of Ireland Ballast Office Deb. 4v. c. Commercial Buildings — COURSE OF EXCHA Amsterdam C.l , 12 41 Ditto, at sight 12 2i Rotterdam n U 12 41 Antwerp 12 6 Hamburg M.B. 13 11 Altona 13 11 Paris, 3 days' sight 25 50 Ditto o U. 25 75 Bordeaux "5 SO Berlin Frankfort on Maine, Ex. M. 151 Petersburgh, ruble, 3 Us. 10 0 Vienna, effective S. 2M. 957 Trieste do 9 58 Madrid 3644 Cadiz 3714 Bilboa Barcelona Seville 36 Gibraltar 47 .NGE YESTERDAY. Leghorn 4B Genoa 0 5 65 Milan 11 Venice 47 Naples 4OI Palermo per oz. 122% Lisbon Oporto 52! Rio .laneiro l7 Bahia 91 Buenos Ayres Dublin, 21 days' sight ' Cork IY, BULLION, PER OZ. X. s. d. Portugal Gold, coin... 0 0 0 Foreign Gold, in bars 3 17 9 New Doubloons 0 0 0 New Dollars Silverbars. standard 0 4 IIL .ILS. Arrived. Due. 1 Hamburg 0 0 Holland 0 Jamaica 0 0 Leeward Islands 0 Lisbon 0 0 Malta 0 0 Sweden 1 Waterford 0 MA, Arrived. Due. O America 0 O Brazil O Buenos Ayres 0 O Carthagena 0 1 Dublin 0 0 Flanders 0 1 France 0 0 Guernsey &Jersev 0 HIGH WATER AT LONDON BRIDGE TO-MORROW. Morning ...41 minutes after 4.1 Evening... 7 minutes after 2. LONDON, WEDNESDAY EVENING, JANUARY 8, 1834. The Paris papers of Monday, which arrived this morning, state that the accounts which had just been received there, were re-assuring, and the quotations of the funds show that little ap prehension is entertained at Paris of a war with Russia. The Ministerial prints speak with great confidence on this point, and we know that Prince TALLEYRAND holds similar language in London ; but there is reason to believe that they found their hopes of the continuance of peace less on any indications of a spirit of concession on the part of Russia, than on a belief that the extensive demonstrations of Great Britain and France will induce the Russian Cabinet to desist from prosecuting its views on Constanti nople. There is no news of importance, in the French papers, from Spain. It is again stated that the Curate MERINO has passed over to Portugal, as a fugit;ve. The statements re specting this erratic personage are, however, rarely to be relied upon. The debate on the address, in the Chamber of Deputies, was again postponed. It was expected that the conclusion of the sitting would be very stormy. The following are the quotations of the Paris Funds, on Monday : FRENCH FUNDS.—PAms, JAN. 6. Five per Cents., 104 f. 95c. 105 f. Three per Cents., 75t. 60c. 50c. Bank Actions, 1,795 f Rente de Naples, 91f. 25c. Roman Five per Cents., 91%. Rente d'Espagne, Five per Cents., 18. Rente d'Espagne, Three per Cents., 4 1 lA. Royal Spanish Loan, 82. Rente Perpet. d'Espagne, Five per Cents., 6631. Belgian Loan, 1831, Five per Cent, 9614. Haytian Loan, 275 f. EXCHANGE ON LONDON. One month, paper, 25f. 25c. ; money, 25f. 25c. Three months, paper, 25f. 15c.; money, 25f. 15c. —Cours Authentique. A Morning Paper contains the following paragraph : " The Hamburg Correspondent of the 27th ult. con tains an advertisement, occupying nearly three columns, consisting of a supplementary list of the names of indivi duals in Poland whose property is ordered to be confis cated, or who are declared incapable of succeeding to the inheritance of their parents." We expected something of this sort, and were not, therefore, like some of our contemporaries, led away with admiration of the clemency of the Czar, on reading in the Berlin State Gazette that he had pardoned, on his Saint's day, fifty Poles who were implicated in the late revolt. It appears that there are certain days even in Russia on which the show of Christian charity is consi dered necessary, and the Saint's day of the EM PEROR is one of them. Probably, however, that day would have passed over without even this show of clemency, if it had not become necessary to attempt the verification of the old adage, that " the devil is seldom so black as he is painted." The name of the Emperor of R us- SIA was stinking in men's nostrils, and the Berlin State Gazette, ashamed, for its master's sake, of the connection with the Autocrat, eagerly laid hold of this poor endeavour to appear mer ciful, to extend the knowledge of the fact, and laud the clemency of its author. To what, however, does this amount ? Fifty Poles, who were impli cated in the late revolt, have been pardoned. Had they been proved guilty, this clemency would not have been much ; but how easy was it for the EMPEROR to have the names of fifty persons really _innocent of revolt returned to him as implicated in a revolt, and to pardon them without abating a jot of his hatred towards all who had been guilty of the crime of loving their country and labouring for its emancipation. If we take the debtor and creditor side of the account, as between the Emperor of RUSSIA and Humanity, how will it stand ? To the massacre of fifty thousand Poles in an unjust and cruel war ; to the legalized murder of several hundreds by sentence of the tribunals ; to the cruel banishment of several thousands to the mines of Siberia, and the dockyards of Cron stadt ; to the plunder of churches, the violation of religion, and the forcible degradation of its ministers ; to the general spoliation of Poland ; and, finally, to the confiscation, i❑ particular, as stated in the paragraph with which we com menced this article, of the property of several thousand Pules who are declared incapable of suc - ceeding to the inheritance oftheir parents.—Then comes the credit side—" By the pardon of fifty Poles on my Saint's Day, who, by the report of my own agents, had been implicated in a conspiracy." Such is the account. Should it please PROVIDENCE to cut the EMPEROR short in his career, and to call for the balance, it must be paid up in a way which must make the true Christian shudder to reflect upon. Great as the EMPEROR is in worldly dignity, there is not a beggar on the face of the earth who ought to envy his condition. DIVES of old was but a type of the Emperor NICHOLAS. The following article appears in the Allge meine Zeitung of the 2d inst. The explana tion of the Austrian Observer is only satisfac tory so far as it denies what the Courrier Francais had stated as to the partition of Turkey. We wish it had gone further, and given us some insight into the nature of the alliance for the preservation of the Ottoman Empire AUGSBURG, JANUARY 1.-The Austrian Observer contains some observations on an article of the Courrier Francais, which purports to be "an answer to the Austrian Observer on a project for the partition of Turkey." The Courrier Francais affirms that every body knows that such a project is in contemplation between Russia, Austria, and Prussia. The Austrian Observer says, in conclusion, " The Austrian Cabinet does not consider the preservation of the Ottoman throne as a subordinate ques tion, but as one of the main objects of its policy ; and we are prepared to repeat this assertion as often as the Courrier Francais may wish. We are not afraid of the manner in which our decla rations will be received by all friends of order and poli tical peace. AUSTRIAN FUNDS. Dec. 27. Five per Cents 94 21-32 Four per Cents. Bank Shares Dec. 23. 94 3.6 S 4 I ,i 1225 The Hamburg Papers, which arrived this morning, state that the Duke of CUMBERLAND was to set out on his return for England on the 10th inst. It was generally understood that the " Illustrious" Duke intended to remain at least one session abroad ; but no sooner does the an- nouncement that Ministers intend to attempt further reforms, than this champion of Con servativeness hastens to take his place in the van of his party. There is some credit due to the Duke for consistency and boldness, although we could wish to see those qualities displayed in a better cause. There is a curious article from Berlin on the rumoured views of the French Cabinet in Africa. It is said that LOUIS PHILIP contemplates se curing his own dynasty by a coup a la Bonaparte in that part of the globe. If so, he is above the prejudices of evil augury. It will be re membered that CHARLES X. projected the invasion of Algiers from a similar motive ; but the success of the French arms there, rather accelerated than retarded his overthrow. The annual meeting of the Shipowners' Society, the partial account of which we gave yesterday, is concluded in another column, and is worthy of notice. Every man who spoke sings the old song of the necessity of protection, in spite of the continued proof which has been given that the Legislature has not the power, even if it were just, to grant them what they call protection. They make a mighty clatter about the result of the inquiry which took place last session, as if proving, which it undoubtedly did, that their profits are now lower than they were in times past, established the point for which they contend. " The evidence," said the chairman, Mr. GEORGE FREDERICK YOUNG, " which had been taken under it was published, and had been read by many individuals with the deepest regret for the afflicting statements which it contained. Time after time, and year after year, they had been calumniated; and the object which they had in view, and the means by which they proposed to effect that object, had been equally misrepresented. They had been de nounced as monopolists, as men in pursuit of selfish interests, utterly disregardful of the inte rests of the nation. It was now proved that they were not so. They had reiterated tales of distress, but that distress had been denied." This is a complete misstatement of the ques tion. The charge brought against the ship owners of desiring a monopoly was merely an incidental one, nor was the fact of their being distressed, that is, of their profits being reduced, ever denied. It has been denied that embarking money in shipping has proved nothing but a source of loss, because, in the face of these pretended continual losses, fresh ships have every year been built. If a man builds a ship knowing he shill not sell it for what it costs him, he is a fool. If a man pur chases a ship knowing that he shall lose money by its navigation, he is equally a fool. Now the ground upon which it has been said that the shipping interest is not so distressed as it pre tends to be is that no one can be persuaded that, in the face of unvarying loss, either the shipowners or ship-builders would be the dolts they are sought to be made out. That the capital of shipowners yields less than it did, so far from being disputed is a natural consequence of the present state of the country. When the number of labourers is greater than the profitable employ ment to be given them, the wages of labour, that is, the profit of labouring naturally falls, from the competition of the labourers to get I what work there is to be had. If, under such circumstances, labourers continue to in crease, wages must continue to fall, and the distress of all will be immense ; all will be in a starving condition ; but it would be ab surd in them, in the face of the increase in their numbers, to say they were all starved to death. S o it is with capital. If the quantity of capital in a country is greater than the profitable em ployment to be found for it, the interest of capital—the profits upon it, must fall, just as the profits of labour fall in consequence of a superabundance of labourers. Since the peace, capital has kept accumulating ; whilst the employ ment for it has remained comparatively stationary. The consequence has been that the shipowner's profits uprn his capital have, with all other profits upon capital, fallen much below what they used to be. That this is a circumstance much to be deplored there cannot be a doubt ; but the question is, what remedy will remove the evil ? The object is to obtain high profits upon capital and high wages for labour. This end would be attained by killing, on some fine night, six millions of the young people of England and Ireland, and annihi lating half the capital of the country. That would bring down the people and capital to the proportion they bore to land, or the field of production, that is, tie profitable employ ment for labour and capital, existing in the times of our greatest prosperity. It so hap pens, however, that six millions of people cannot be found who will be kind enough to sacrifice themselves for the comfort of those who will be left behind, and that men will not be persuaded to throw into the sea half the accumulated labour which they have invested in the shape of bonds upon the State or in dividuals, or in other ways. The question is, then, whether prosperity and happiness would not be equally restored by enlarging the sources of employment for capital and labour ? There cannot be a doubt of it ; but the legisla ture, which consists of landowners, has hitherto fancied that, by restricting the employment of capital and labour, by preventing its being given in exchange for food brought from abroad, it would profit them. The employment of labour and capital being thus restrained, hundreds of thou sands of labourers are driven abroad, who, if they worked at home for the bread they go abroad to seek, would pay millions in the shape of taxes to help us bear our burdens. In like man ner capital, after being employed for a little time at diminished profits at home, flies abroad and sets up mills to manufacture cloths which we might have exported .This is actually the case,not with the capital of the shipowners only, but with the capital of all classes, for the capital of all classes yields low profits. This being the large and enlightened view of the case, what is the remedy proposed by the shipowners to relieve them selves from the low profits they complain of ? The imposition of duties on articles brought into our ports by foreign ships, higher than the duties imposed upon the same articles brought in our own ships ; or any other kind of dis criminating duty which will " protect" British shipping. This is the plain, naked demand of the shipowners. We will suppose it granted : nay, we will suppose it to cause every article imported into, or exported from, the kingdom, to be carried by British shipping. The first effect would undoubtedly be to raise freights, and make the fortunes of all at present possessing ships ; but capital now lying idle, or getting low profits, would forthwith be embarked in shipping, and this operation would continue till shipping profits were again brought to the level of the profits of capital embarked in every other kind of adventure. This is so plain that even the shipowners must see it ; but they calculate, we suppose, upon making their fortunes, and leaving their successors to devise some new scheme for raising the profits of shipowners independently of the profits of every one else. In point of fact, however, it is idle to suppose that so absurd a plan could even temporarily succeed. The instant we imposed discri minating duties on foreign ships entering our ports, foreigners would do the same upon our ships entering their ports, a game at which we should clearly be losers. All that the recipro city treaties, which the Government were com pelled by foreigners to make, do, is to oblige each party to levy upon the vessels of the other the same duties as are levied upon his own. Spain does not act upon the reciprocity treaty. Let us see what the Ship owners' Committee say upon the subject : " The state of the Export Trade from this country to Spain, in which an advantage approaching to mo nopoly is enjoyed by Spanish shipping, in consequence of the heavy discriminating duties imposed on impor tations into Spain in British ships, has engaged the atten tion of your Committee. They have not yet been enabled to procure a redress of the grievance, but cannot believe that the British Government will much longer permit so injurious a system to continue, without recourse to those measures of protective retaliation which are provided by the Reciprocity of Duties Act ;' of the alleged advantages of which Act, the Spanish Government has hitherto re fused to avail itself." Here is in the same breath a sneer at the " al leged advantage" of the treaty and a call upon Government to get Spain to act upon it ! Cannot the shipowners imagine that ii' we were to act towards other countries as they wish us, that is, as Spain is acting, we should have pursued towards us the course they want to have pursued towards Spain ? We might go on thus showing, the short sighted, inconsistent folly of the shipowners in almost every one of their organs ; but powerful as are the prejudices to which they appeal, and deep as is the ignorance upon which they rely, the time is past when we need se riously apprehend any very great departure from principle by Government in a matter so often and so fully discussed. THE MARKETS.-(THIS DAY.) CORN EXCHANGE. The supplies of all kinds of Grain this week are good, and of Flour large. The trade for Wheat remains dull for all but superfine, which sells freely at former rates. In Barley, Beans, and Peas, there is no alteration. Oats and Flour as our last. ARRIVALS. Wheat. Barley. Oats. English 6,300 qrs, 9,300 qrs. 8,580 qr.. Irish 2 60 350 6,110 Foreign .. O./MVO Flour. 7,9s9isacke SHIPPING INTE LLIGENCE -(THIS DAY, FROM LLOYD'S. PORTSMOUTH, JA 7.—A hard gale from W. N.\l to S.S.W. and squally.—Arrived the Courier, Henriel son, from Buenos Ayres ; and Speculator, Jackson, froi Memel. FALMOUTH, JAN. 6.—Wind S. to W.S.W., stron gales. Put back the B. RAMSGATE, JAN. 7.—Arrived the James, Largio from Riga. BRISTOL, JAN. 7 . —Arrived the Friends, Letton, froi Seville. GLOUCESTER, JAN. 6 . —Arrived the Friends, urn St. Uhes. Liveraoor., JAN. 6.—Arrived the Eliza Grant. Tit bolts, from New Orleans; and Frances, Collian, fror Newfoundland. Off port the Huskisson, from Bahia ; arr Ajax, from New York. WHITEHAVEN, JAN. 6.—Arrived the Candora, Cour nan, from Bay Chaleur. CoRK, JAN. .. —Arrived the Hester, Thompson, fron St. Andrews, New Brunswick ; Julia, Stanworth, fron Newfoundland ; Sir D. Ogilby, M'Neice, from Lisbon and Eclipse, Godfrey, and Glanmire, from London. NEWRY, JAN. 6 . —Arrived the Ann, Brudie, iron Riga ; and Gleaner, hamlet,ier, SHIELDS, JAN. 6.—Arrived the Mars, Heron, f ren St. Petersburgh. from London. SUNDERLAND, JAN. 6 . —Arrived the Catherine any Hannah, Arrowsmith, from St. Petersburgh. The Kenindon, Ball, from Savannah to Liverpool, am the Widows Friends, Larkin, from Wexford to Liverpool, were drive n on shore near Holyhead on Sunday night— crew saved. The Lark, of Whitby, sunk on Yarmouth Sands on the 31st ult.—crew saved. The Navigation, Soleby, from Shields to London was lost on the Gunfleet Sand on Monday night —crew t.aved. The Caesar, Surflen, from London to Bengal was driven on shore at the Mauritius, 9th of Ootober, and bilged— crew and passengers saved. The Samuel Brown, !lardy, from Bengal to Liverpool, was completely wrecked at Mauritius. The Lion, from Singapore to London, put into Mauritius leaky. The Thomas King, Williamson, from London, arrived at Demerara, previous to the 28th of November. The Eldon, Taddy, from Liverpool ; Astrea, Hurst; and the George the Fourth, Baldwin, received considerable damage at Trieste during a violent gale on the 26th ult. The Ninus, Gregereon, from Batavia, and the Johanna, Schule, were driven on shore, near Cuxhaven, during a gale on the 4th instant. _ The Johanna Juliana, Krafft, from Teneriffe, was stranded near Bremen during a gale, 31st ult. BANKRUPTCY COURT-(THIS DAY), RE COCHRANE'S BANKRUPTCY. A meeting of the creditors of Mr. Cochrane, the book seller, was held today before Mr. Commissioner EVANS, for the further proof of debts, and for the purpose of having a dividend declared. Mr. Alderman Venables attended to prove for 1301. The claim was resisted, on the ground that the bankrupt had only creaited the Alderman with 30/. It came out on explanation that the 1001. was for a bill of the bankrupt's which had been indorsed to Al derman Venables by a Mr. Sears, and the proof was admitted. Mr. STEVENS, as solicitor for Sir Charles and Lady Mor gan, claimed to prove for 991. odd, due to them for writing articles in the Metropolitan Magazine. The demand was at the rate of 16 guineas per sheet, and at a former meeting, upon the examination of Mr. Cochrane, who stated that the price should only be 8 guineas per sheet, the commissioners reduced the demand to that price. Sir Charles's solicitor now renewed the claim for the full amount, on an affidavit stating that Mr. Cochrane had agreed to give the same price as Mr. Colburn (in whose employ Mr. Cochrane had been) was in the habit of giving, and that was the price now claimed. Mr. Cochrane was examined—He stated that the engagements with Sir Charles and his Lady by Mr. Colburn were distinct front each other. The lig:, bad sixteen guineas per sheet, and Sir Charles only ten, but at ail events not exceeding twelve guineas. COMMISSIONER—Why was there that distinction? Mr. Cochrane—Because their talents were differently rated. That is the only reason I know of. Mr. Taylor, Solicitor to the Commission said it conid not be expected that the same price should be paid for $ new as for an old established work. Mr. Stevens thought that was an additional reason• It was ultimately agreed that the proof should be p,ned, in order to produce Mr. Colburn, to prove the prices. A person named Tapster, the waiter at Holland's Hotel' appeared to prove for 80/., on a promissory note given by the bankrupt to a Mr. Wade. The claim was resisted. Mr. Cochrane said be had given four of those notta tO Mr. Wade for a History of Music," which was to be delivered on the following day. It appeared, how' ever, that the person in whose possession the history was had a lien of 40/, upon it, and, in cons" - quence, it was never delivered, nor were the notes ever returned. He, the bankrupt, never had any considers. lion for the notes. The creditor said he had given Mr. Wade value for the note. The COMMISSIONER ordered the claim to stand overt f the claimant to prove that he gave valuable considers' Lion for it. The proof of debts was proceeding when our reporter left. THE FUNDS. -(THIS DAY.) CITY, TWELVE 0' CL 0 CK. A vessel is arrived off Liverpool, which sailed from Nell York on the 14th ult., but the pipers have not as ye; been received. COMMERCE OF ANTWERP.--The arrivals of ships int' that port during the year 1833 wcs 11,000; and duria, the year 1832, 1,258 —consequently, there has been a di minution in 1833 of about 150 ships. Accounts from Algiers state, that the works of tho town are being continued with the greatest activity', Numerous orders have Teen received for the purchase 0 lands. For several days past a report has prevailed that ° I treaty is being negotiated between France and England, i 5 which Algiers is to be declared a free port. THE FUNDS. P—' - ;11- The Express from Paris is the chief feature of politie• this morning, and by which we observe that the French' Government has no apprehensions of a continental war indeed, we are convinced that neither Prussia nor Austri will join Russia in so dangerous an enterprise; but more , particularly Prussia, as she would be the first sacrificer ar,cl the whole of Poland would be again in flames ; wise the German States on the Rhine; and the WOO interest of these Northern Powers is to keep peace sit 1, 0 , e, an d not to be weakened by the intrigues of the Cabinet of Russia. Consols, which left off yesterday at 90k, opened r$ t h e ima m price, and may be quoted at present 90k buye t for Account; for money, 881 I. Little doing as yet in the Foreign Market. HALF-PAST ONE. Since the early part of the morning Consols have hi come heavy, although the dividends are paying at ttl Bank. The public are selling Stock, which is general!; the case cn receiving their dividends, to purchase in Or other Funds. Consols, which were 90} I. may be quoted at present soi, sellers, for the Account. No speculations of conse' quince have taken place during the morning. We understand that the French Rentes come 75f. 8001 the leaving off price. It is reported that Russia would not receive Mr. Strap ford Canning as our Ambassador; also that the Frend Government are actively arming. In the Foreign Market Spanish 23-i I; Dutch 49j11 Portuguese 564 I. We have no fresh arrivals to present time. Consols just done at 898 90 for Account. THREE 0' CL 0 CIC , Consols for Account 898 90. named S ub-Lieutenant A Pachtussof, ast of be blocked l 0:! expedition has been a ll u d e d $ has just returned from exploring the eastern coast v'i whose e. of the Russian navy, so Nova Z,uibla. He set out in a vessel freighted by WI commercial house of Bran dt, at Archangel , in Augus tf l in In a thebay t 0 0 0ll t o h w e follow ing m onth south-east 1. 1 ) 8 10 3 c 2 ke Zeutbla, where he wa s forced t o pass the winter, in ° I h u t co nstructed by himself. In May, 1833, be made 1 e xcursion by land to ex p l ore the coast along the strait j Waigaz. He w as there overtaken by a terrible hurrics d up with by five the m i e c n e . , and fall of snow. To prevent suffocation, he states tb S, h e was obliged to remain th ree d ays fl at on hi s f ace Of f t he snow ; fortunately h e was wrapped up i n t hi c k f u - It was not until the 23d of July that h i s b ar k could 10', 1 the bay, where he had remained ten months. H e 01 explored the eastern coast, and be returned to Archatiri on the 2d ult.— Qalignani's Messenger, I