The Sun. — London, England, 1827-01-17 00:00:00

nate, if the portaitoteitalinre beeCifpinfirXiat due jigaid to the interest of the agriculturist without any duty ; but, as this would be evidently injurious to both proprietors and tenants, I have adopted a scale for ten years, , gradually decreasing ; an I, by the end of that period, the major part of the present leas s will be at an end, and the contracting parties can commence ( a more sure footin'g, and the 'tenants at will would not be in the least degree hurt by the change. I am aware this duty is three times higher than that in the year 1790 ; but the circum stances of the country are materially changed; and, as the high d will increase the revenue, as well as extend the protection of ti home grower, I cannot, at present, anticipate any well-ground, I objection to it. Although the duty is higher than it was in lino, your Lordship may, and I have no doubt will, be told, that it is not half a protecting duty. The landed interest will immediately say, that part of their income has been taken from them, which ' was guaranteed to them by Acts of Parliament. I observe Col quhoun and the free-trade party estimate, that the prohibitory Coen Laws cost the country twenty-five millions per annum. Taking this estimate as correct, the country would gain twenty five millions annually, but the landed interest would lose it. There is no doubt the proposal now in hand would assimilate the price of corn, and, of course, the value of land, to that of the year 1790 ,; and, without the fourth proposal, which is intended ultimately to assimilate the national debt to that of the same pe riod, woeld be an evident injury to the landed interest. The landed interest at first will suffer by the loss of the above 25,000,0001. annually ; and the proprietors may say with truth 'that they have more to complain of than any other members of the Commonwealth. It is not enough that they are told that they have as many acres as their forefathers left them, and may get the. same rental. This, your Lordship will observe, does not apply to the 'new proprietors, who scarcely at present receive two per cent. tor their money ; and, if this proposition of mine is adopted, they . will get but one per cent. But it may apply to the old proptit , - , tors; for it is strictly true, that the ancient Nobility Will have the . same number of acres ; and it is equally tree that they may get `the same rental that their forefathers dill. Your Lordship is, however, particularly requested to observe, that you will be told by them, that is the time of the ancient Nobility, the ancient Go vernment had no debt, end, consPquently had not 35,000,0001. -of _ annual dividends to pay; and that the debt of our modern Government was created, and continued to increase, in a dere .clated sapee currency, since the unfortunate days of the un fortunate administration of Lord North ; and that every Mi nistry, that_ have followed him, have continued to increase the .debt, it. has, reached the alarming. sum of 800,000,0001. and, until this debt can be brought down to the national debt of the country ie the year 1790, corn cannot, with an equal men sure of justve, be brought down to the price'of that period._ }lnt the iniention of my fourth proposal is, to attempt, in some Measure, to do this. New, myLord, I come to my last propositions; and, as thj ie one of immense importance, I have to solicit your Lord sliie:s.,iedulgetee,.should I appear a little prOlix in my remarks. All the financiers, since the days of King William and Mary, haVesootintied to increase the Revenue, and unfortunately they have continued to increase the debt along with it ; but, as the system, which I have the honour to propose to your Lordship, is intended to lighten the burdens of the country, the Revenue and the debt must be sradually lowered at one and the same time. In suggesting this reduction, I am. not so rash as to say,—caecel the debt, and let the country t ee; for lam satisfied, that such a step would unhinge ;!::: the bonds of society, and plunge in total ruin the whole interests of the kingdom : but, on consi dering the for Many years, I think every one must be satisfied, gnat it is indispensably necessary to lessen the debt ; while such an enormous load continues, the coun try :must labour under its weight,--and labour, and labour in vain : foe one may as well expect to leap over the Alps, as ex pect that the country can prosper with such a load. But how so important a measure is to be accomplished, is, and must be, a matter of-e.xtrente difficulty, if not of utter impossibility, unless recourse ill:11.3d to steps, which nothing but the urgency of the Can- 'justify. In' interfering with the solemn engage ' ante-afthe , country, not only to its own members, but to in c4trifluale.and states in every quarter of the globe, much panic iyould i enine- in the first instance,—some would_say, fly the 4ty,,fersthe Stock-. Exchange will be blown up; but I feel con -11444.1.11* - panic would be but temporary, and, in a short intFinde /null a-reaction would take place in our credit, as to place iten , a firmer• footing than ever. I have then to propose, .that, sus e.eertain dry to he fixed, ,say the Ist of January next, one apcl„ , n,squarter pee cent. be deducted annually from the -gross ainount - Of the National, Debt,—l mean the Capital,—the said ope and a quarter per cent.- , to he. deducted on the same day every year, until the debt is reduced, and its amount is down to the. pun it w.ae before the French Revolution ; that is to -440,000,000. I mean the deduction to 'take place on the !Phoning sit:4le, Viz. • £800,000,000 0 0 10,000,000 0 0 182 S 1529 . issi) 790,000,000 0 0 9,875,000 0 0 780,125,000 0 0 9,751,562 10 0 1 SS 1 770,373,487 10 0 9,629,667 19 44 760,743,769 10 74 .. 9,509,227 2 44 751,234,172 8 3 1832 71.1,844,041 10 11 9,273,050 10 1883 . 732,570,990 19 9i 1834 723,413,853 12 04 .. 9,001,006 10 01 1833 714,412,847 1 04 1836 - 705,482,686 9 3 1837 - £696,664,632 17 8 and to continue till the debt is reduced to that of 1790. ' Your Lordship will observe the deduction is made from the , capital, and not from the dividends. Any deduction from the latter would not only affect the eirculatinc , medium, but it woud he severely felt by a numerous class of th:fu fundholders, and would he particularly hard in the case of minors and n( be obliged to live on the dividends. Beside a s, ny a any od:eFettiloan wouldt from the the dividends, that would do the country sacrifice too great to be expected ; whereas, taking it from the capital, I trust to make it appear, that, taken in conjunction with 'my former suggestions, the deduction would never be felt at all. 111 proposing this reduction, I am conscious similar language will he used bv"some fundholders, that I have attributed to those af fected by propositions second and third ; and that they may say, that part of their iiir4portjt is taken from them that was guaran teed by acts of Parliament. But, by taking a comprehensive view of the matter, their property-is not taken from them; nei ther is the national faith compromised. It is true there is a change of figures ; but front the changes that are made by the two preceding propositions, ,the reduced sums of funded capital ' will be o f as m uc h comparative value, and go as far i n purc h as i ng all other descriptions of property, as the original nominal sum ; and, as-the - price of corn, and, colsequently, of every thing else, will h e reduced in the saMe period in a much less proportion, they will go asduring , far that period, and, after it, much farther than they do at present. . . But let us take another view of the subject, and suppose that Governm b en t—ad tint borrowed the money, or that, by some mi raeulotts .eveeoer 4 do tt'4 ? n r t.t ~liey were .,. instantly enabled to repay it, what could the . li ,80,0,000,0001. of money ? Had it been pOssible . to have time ago, the half Of-thePlatied produce of any kind a short it been lent on foreig n was gone in the speculation.— Had worse situation. Had it }m en t—ititi.es, it would have been in a the hands of many- hundred b ''' atiC r t s Only twelve months ago in at home, what would the 800;000,000/... - be reduced to now? ll these: investnimits, had the possessors - o o f t ; instead of any of wished to lend it on mortgage, where is the this immense sum adequate extent in value ?' In fact, my Lord, or l d and to be found of it will be found, but by lockiug that there is no way of keeping such a sum safe,T i t , i p,— . say, in the Bank of England, or the where are the dividends? Or, where is and, in ; the eight that cam) hundred millions of coin to lock up ?— an d, I presume,iS nobe y would 16ck up paper. But suppose the fundholders were d the sum in sovereigns, I admit it would be safe, if locked to get buried ; bat it would not be safer than in the British funds ; p i , o . r ther would it be s 6 well invested ; because, if the regular dividends were added, 'the capital would contirnie to increase, notwithstand-' Mg:of the annual deduction of one and a quarter per cent. every let of .ranuai-y. In short, my Lord, this 800.000,000/. o f nomi nal capital could be trusted no where but in the British funds.-- 1 And, although an act of the legislature were passed, and in force rio-morrow, along with those to be founded on the principles of i the other th ree p ro p os iti ons , th e cap it a li s t w ou ld cons id er it a I good investment. For what is one and a quarter per cent. annually, for guaranteeing this immense sum ? Who would guarantee a mercantile debt for one and a quarter per cent., even for 6 months ? Who would guarantee an adventure of this magnitude, or insure, or underwrite for a vessel with 800,000,0001. on board, for one and a quarter per cent. ? What insurance or premium would have been offered, and most cheerfully paid, to insure this very 800,000,0001. at the time the fleet mutinied with Parker at the Nore, When the British three per cents. fell to 47 ? The British Government alone can undertake an insurance of this magnitude ; and the premium of one and a quarter per cent. is too little fur the risk. In fact it is but little, in comparison to what is at present actually expended to protect our funded property. What I have said is a sufficient answer to any objections that I anticipate from the fundholders, as a body interested in the welfare of the state ; but, as an illustration of their situa tion, in comparison with the other classes in society, who may be more particularly affected by the changes suggested, I would put the case. Supposing three brothers, A, B, and C, receiv ing one thousand pounds each, and, during the war,. A purchases a commission with his 1,000/. ; B purchases land with his, and C, put chases stock with his 1000/. ; and, in consequence of the long and expensive war, the country gets into difficulty and dis tress, and it becomes a matter of necessity, that, in ten years, one fourth of the pay, or 25' per cent., is taken from A, and a greater proportion of his rental is taken from B, upon what principal can C, complain of the trifle that is taken from his funded capital ? No doubt the funds will suffer as much in one hundred years as the land, butthe present fundholders cannot suffer as much as the present land holders; because their interest in the funds will have ceased long be fore this trifling scale can reduce the national debt to what it was in 1 ob. Let it be asked, which of the brothers would have the most reason to complain ? Surely the stockholder would have the least. , For your Lordship will not fail to keep in view, that you will be told by the landed interest, that, by the estimate of Col quhoun and the free-trade party, they will suffer a loss of 25,000,000/. annually, by the abolition of the corn laws ; and that they would suffer this very unjustly, unless the fundholders were also to contribute, in a fair proportion, to the necessities of the state : and that you will be told, by the class who are affected by my second proposition, that they cannot suffer the 8,000,0001. of proposed reduction, unless the corn laws are repealed, and the national debt reduced. With regard to foreign fundholders, they, must be treated in the same way as British subjects. And, in answer to their com plaints, let them, in the first place, be told, that they cannot complain of the payment of one and a quarter per cent. for se curing their property, while they contribute, in no other form, for Its protection : and, let theta look around them, and discover where they can place their property with half the .security. In the next place, let them reflect on the hundreds of millions that Great Britain expended in the cause of the established Govern ments of Europe within the last thirty years, and that in defence of their property ; and, if they still consider their case hard, let them apply to their own government for redress. They must be told, and that firmly, that we have no intention of reducing our debt lower than it was before the French Revolution. In cutting down the debt, I am presuming, that no future loans will be required ; as, from the impetus which would be instantly given to trade of all descriptions, and the increasing prosperity of the country at large, the ways and means could easily be raised within the year. And, should it unfortunately happen, that future wars should arise, and that we are under the necessity of having recourse to loans, I am not apprehensive of the result, as the money could not only be obtained at the price of the funds at the time, although the lenders are made aware that the one and a quarter per cent. is deducted from the capital annually, but the fund of credit is created to enable ministry to borrow the same. I originally intended to make a fifth proposition, —to cut down the Revenue on a scale of so many per cents. till all the duties were assimilated to those of the year 1790 ; but, as so many taxes have been totally repealed, and as many partially reduced since the peace, I should suppose such a scale of reduction were better in the hands of the ministry. And, as the taxes already repealed, wholly and partially, from 1821 to 1825, amount to 10,160,0001., and that, independent of the 14,000,0001. of Property Tax, ter minating in 1816, I should suppose a reduction from 1827 to 1837 may be estimated at 10,000,0001. Before leaving off, I trust I may be pardoned for pointing out a few of the many grievances of the present systeth, as felt by the generality of his Majesty's subjects. I began with the four mil lions of Assessed Taxes ; they are still paid, but they are not, and never were, cheerfully paid ; and, after twelve year's peace, they are paid with increased dissatisfaction. Many poor families are much straitened; many pawn their furniture ; and-some families are rouped out of doors to pay them. Direct taxes are bad in principle, as they raise little money and much strife, and they never should be resorted to except in time of war. But, suppos ing they were easily paid, it appears to be had policy to keep them up; for what advantage are they to Government? The moment they are realized, the whole amount, and other four mil lions, are paid away by the Government, in extra pay to the army and navy, to the judges of the land, crown-servants, and others; so that the money raised from the subjects do the Government no good. In using the words extra pay, I wish to be distinctly understood, that I have no distant intention of insinuating that the gallant defenders of our country, the judges of the land, or others receiving the government money, are overpaid. No, the extra pay became indispensably necessary, in consequence of the extra price of provisions, and the change in the currency. But let us proceed to inquire what good this eight millions of extra pay does them. The raising of the money makes the poor, poor indeed, and it does no good to those who get it. In fact they would be better without it . for, whenever they receive it, it is paid away to the landed interest for dear bread, and other agri cultural produce. Let us then proceed to inquire what good it does the proprietors of the soil. It does them no good—they would be better without it ; for, whenever they receive the 25,000,0001. for the bread tax, it is paid away indirectly to the fundholders. Then one would suppose the happy fundholders would be well off with their 33,000,000/. of annual dividends; but this is not the case, for, when they receive them, they are, with the exception of what is accumulated and added to the capi tal for private purposes, swallowed up in high duties, dear bread, extra salaries, and high rents ; so that if the government duties, the corn, and the &cs. were reduced to the scale of the year 1790, they would he better off. Now, if no one of these three great classes, who are so deeply interested in the country, are one fraction the better of all this extra money being raised from the subjects and paid to them, it must follow that it is bad policy to keep up war taxes in time of peace ; and it must also thence be apparent, that it is a thing much to be desired to assimilate our Revenue and Expenditure to the scale of 1790, before the war commenced. I may estimate the number of the above three classes at about three millions of individuals. These three millions, if not bene fitted, will not at least be injured by the adoption of the propo sitions I have had the'honour of subMitting to your Lordship; and the remaining twelve millions of his Majesty's subjecns will be essentially benefitted. It is not necessary for me to explain the condition of these twelve millions of individuals ; but I may ob serve, that after twelve years profound peace, our commerce is nearly at a stand, our manufactures entirely so, our individual credit impaired, our revenue decreasing, and our debt overwhelm ing. Under these circumstances it is no wonder that a great proportion of these twelve millions are at this moment in misery . and distress, and that thousands are fast following to the same situation; or that the kingdom should be covered with beggars and paupers, from Cornwall to Kirkwall, besides the starved, ' distressed, and otherwise alarming situation of Ireland. This is a picture of the present state of matters. Now the result of my propositions, by which the burdens of the people will he lightened, will be better shown and illustrated by stating the same in the abstract, in figures, viz.:- 1. A total repeal of Assessed Taxes will lighten the burdens of the country annually L 5,000,000 2. A reduction of one-fourth of all pay, pensions, salaries, &c ' as per Proposition 2, including the savings by those falling by deaths 3. A repeal of the Corn Laws will lighten the burdens of the country, as estimated by Dr. Colquhoun and the free-trade party, at 4 . gradual reduction of the national debt will lighten the ' burdens of the people, besides reducing the debt itself in ten years one hundred millions 5. As, from past experience, we see, that between the years 1821 to 1825, a reduction of taxes, amounting to 10,160,000/. took place, and that independent of the 14,000,0004 of property in 1816, we may fairly calculate on a reduction of taxes, from 1827 to 1837; - Of Total £52,000,000 In stating that the proposed system would lighten the burdens of the country, I may add, that from the increase that may arise from the second and fifth prepositions, mad that must arise from the fourth, the savings will soon he sixty millions ; and, before the debt is reduced to the amount of 1790, the burdens of the country will be lightened 7 0,000,000/.annually. It may he observed, that there are various classes in the country that are not directly taken notice of in these propositions. It would be difficult, if not impossible, to include all; but when I cast my eyes at the export and the shipping interests, the great mercantile and colonial interests abroad, and the great banking and manufacturing interests at home, and reflect on the dreadful cala mities that have affected them, and other classes, within the last twelve months, they appear to have suffered too much already. I would earnestly solicit those receiving Government money, who may take another view of the matter, seriously to reflect, that the best ship, with the bravest commander and skilful crew, guided by the most able and experienced pilot, has gone a-ground ; ' and, in that case, to think on the risk they run of not being em ployed, and what rate of pay may be allotted they. I would also have the landed interest, on giving up the corn-bill, to reflect, that, if that case occur, (which God forbid, although the lands would still be where they are), the risk the owners run of their changing proprietors. And, above all, I entreat the fundholders seriously, very seriously, to reflect, that little, very little, saves a vessel ; and, if they refuse to lighten her this trifle, and it unfortunately happen, that the greatest and the best state-vessel in the world get over loaded, and founder—the stock that is worth 800,000,0001. to day, will not be worth 800 fractions to-morrow. Edinburgh, Oct. 27, 1826. FOREIGN INTELLIGENCE. FRENCH PAPERS. (From the Etoile, dated Monday, Jan. 15.) " PARIS, JAN. 14.—We have letters from Madrid, dated 4th January, which say, M. de Lima will be received to-morrow at Court, as Charge d'Affaires, in return for the reinstatement of the Count de Casa Flores, in his functions as Ambassador at Lisbon. " The movements of troops on the frontiers continue with the greatest activity. The Lancers of the Guard have received orders to hold themselves in readiness to march. It is affirmed that above 30,000 men, of whom 3,000 are cavalry, will be assem bled along the lime from Galicia to Extremadura. " Lieut.-Gen. Sarsfield is still designated for the chief com mand of the troops stationed on the frontiers, Major-Generals Rodil, Oreil, Scuti, &c. will command the several divisions under him. " No news has been received for some days past of the Portu gueninsurgents. " The city of Bilhoa has just proceeded to the annual elections of the municipality. The persons chosen are Royalists, friends to order. " The north wind, which has blown with such violence for some days past, has so blocked up with snow the roads in Swit zerland, that the communications are almost wholly cut off. " The mails from Paris and Lyons have been delayed for 30 hours. We hear of carts, horses, and even men, buried in the snow, as well as a great nu4ar of other accidents. " The Moniteur of Sundakitut has a second article of three columns and a half on the prOject of law for the regulation of the Press. " It supports its argument by quoting the En,c,iish Bill called, an ' Act for subjecting certain publications to the stamp duty on Newspapers, and for adopting other regulations, in order to re strain the abuses arising from the publication of impious and se ditious libels.' " It likewise alleges Goldsmith's dispute with a bookseller, and quotes some passage, of his letter, published in The Daily Aldver tiser of the 31st March, 1773. " The Moniteur contains a comparative view of the receipts of 1826, with the estimated receipt, according to the Budget, by which it appears that the receipt has exceeded the estimate by 30,667,065 francs. " From a second table it further appears, that the receipt of 1826 has exceeded that of 182.5 t by the sum of 15,522,800 francs. (Fromi the Courrier Francais of Sunday.) PARIS, JAN. I.3.—EMBARRASSMENT OF VILLELE, AND DANGER OF lIIS DICTATORSHIP.-The Prince Julio de Polignac has been at Paris since the night before last. He alighted at the house of his eldest brother, the Duke Armand de Polignac, who fills par interim the office of Grand Equerry. M. Armand was condemned for the conspiracy of Georges, and obtained his life ; while his brother Julio, who accompanied him, was not judicially condemned till after two years' imprisonment. It is confirmed that M. Polignac will not return to London; without, however, any alteration taking place in our political relations with Eng land. If we are to believe some reports, this change is only a new pledge for the harmony of the two Governments.— The Prince was, perhape, a little too warmly a Catholic for a Protestant country. It does not appear he likes the policy of M. Villele, respecting Spain and Portugal, and thus his entrance into affairs will be a great event. However; the new destination is not so well known as his stay . in Paris. M. de Villele, who would fear a man more adVenced than himself in the good graces of the prevailing party, profits by the violence of the storm raised against the Ministry, in order to avoid*an intestine shock, or, at least, to gain the end of the- Session, aCcording to his eternal system of temporising. He- - even seeks other combinations, which would allow him to offer M. de Polignlc a far different thing than a portfolio. It is thought be will be' offered an extraordi nary mission into the Peninsula. It will be represented to him as a great means oreetablishing in" Spain a "legal 'order" without a charte, as a plank of Safety to Ferdinand, as in important mediation for the beds it of the Spanish ariptocracy and clergy, of whom he would become the benefactor. But the aristocratic and devout party, of whom M. de Polignac is the principal hope, would allow him to accept a true ministry only. He is a rival, and soon will be a conqueror, from whom M. de Villele cannot long escape, in spite of all the tricks and words which may be pre viously employed. The party to which he sacrifices the great in terests of France only tolerates him now with repugnance, as he saw himself, when M. de la Bourdonnaye, in spite of all his efforts, was introduced into the Commission of the Press. Every thing leads to the belief, that, without quarrelling with a party of the Court, end with almost the whole of the Congregation, M. de Villele cannot free himself without laying aside his Ministry. Constitutional France is considered as nothing in these domestic debates between the factions of the same party. Frauce knows full well, that in this complication of intrigue—in this shock of rival ambition--ins interests are those with which they least trouble themselves. (From the Courier Francais.) PARI3, JAN. .i3.—M. de Polignac has arrived, and whatever the English Government may say, he will not return again to London, though probably he may himself name the person who is to succeed him. M. de Polignac has done for the Catholics of Ireland every thing which he was commissioned to do for them. His mission is aceomplished in this respect. The Congregations of France, the Juntas of Spain and Portugal, will pardon him for not hav ing prevented the sending of English troops into the Peninsula; they expect from M. de Polignac other services, which will easily procure for him a complete absolution. (From the Constitutionnel.) (PRIYATE CORRESPONDENCE.) VIENNA, JA 4.—" There is a good deal of talk here about a diplomatic note which Spain has recently transmitted to its Mi nister at our Court, and in which, to judge by some passages of it, the Cabinet of Madrid does not manifest any pacific intentions. Not only are the causes of complaint which Spain has against England (which she loudly accuses of having provoked the insur rection of the American colonies)-there dwelt upon with great bitterness, b as ut a th n e o r ff e e colni co tio m n m o i f tted the a n g e a w ins S t ta t r e mr b ,h y o t l h e is H P o o ly we A r ll i i- s enc.. The rumour of this note, and the intelligencelthat the ulti matum deliirered by Mr. Lainb to his Catholic Majesty was not accepted in all its parts, have raised anew the hopes of our Apostolics. At all events, the Prince de Metternich has adopted a kind of see-saw system (system de bascule.)" FRENCH FUNDS.—PARIS, JAN. 13. —Five per Cents., 991. 65c. ; Three per Cents., 67f. 60c. ; Rentes tie Naples, 73f. 95c. ; Spanish RenteF, 12f. ; Royal Spanish, 48f. ; Perpetual Spanish, 40f. ; Hayti Loan, 600 f. Exchange on London, one month, paper, 25. 40 ; money, 25. 35. ; three months, paper, 25f. 25., money, 25. 20c. PORTUGAL. WAR-OFFICY, JAN. 1 EXTRACT OT THE OFFICIAL COMMUNICATIONS RECEIVED TO- DAT IN THIS DEPARTMENT. " General Azeredo writes from his general quarters at Nellas, on the 29th of December, that Lieutenant-Colonel Gama, of the 11th Ca va l r y, h a d come up w i th some of the re b e l f orces b e t we en the brid ge o f Al ca f ache, on the Deao, and the b an k s o f t h e Mon dego, and charging them with a squadron of cavalry, and the Casadores No. 3, took 93 prisoners, among w hi c h 8 were wound ed, besides one killed, all of them belonging •.,_, the militia and infantry No. 12. The Lieutenant-Colonel of the militia of Vizeu, Joze Paulo de CarvaLlio, is one of the prisoners. The rebels on that day occupi e d C ea P i nhaqa, &c. General Azeredo was in comnuinication with the Conde de Villa Flor, who writes from Folhadoza on the 29th, stating that the movements of the division under his command had disconcerted the plans of the rebels, who appear to have attempted to place him between the troops of the Marquis of Chaves and those of Magessi. The Marquis of Chaves was flying in full re t reat i n the di rect i on of Celorico, accompani e d, it is said, by two Sp an i s h gene ral officers. The Conde de Villa Flor was on the point o f marc hi ng a gainst the rebels. The following are extracts from private letters : LISBON, JAN. 1.---" The packet having been delayed until this evening, I hasten to impart to you the news of this day. The whole party is retreating. The plan of operations was to make as much way into Portugal as possible before the English troops arrived. Their first attack Was on Villaciara, near Elvas, which they took possession of on the 23d of November. The Portuguese Government sent a ll their disposable forces to that quarter, when they retreated into Spain, and re-appear e d i n t h e mountainous provinces of Tras-os-Montes, where the people, like the Highlanders of Scotland, are excellent soldiers; and being at tached to certain chiefs, the whole population were easily induced to join the insurgents. Instead of attacking Oporto, where they had r opposition to fear, they crossed the Douro, and obtained the su i m c of the inhabitants of Upper Beira ; took possession of Lamega, Viseu, and Guarda ; and finally Almeida, the second fortress of Portugal. " The Government sent those forces which remained faithful to Oporto. In the province of Minho, between Oporto and the Spanish kingdom of Galicia, there are no rebels. The Constitu tional army and that of the rebels, in numerical strength, are nearly equal. The Constitutionalists, according to the most recent ac counts from Oporto, have been fortifying a convent of Domini cans, on the right bank of the river Tamega, near the celebrated pass of Amarante; the rebels, who are in the town on the oppo site side, have not dared to attempt to face the pass. The latter are stated to be retiring from Guarda towards the province of Tras-os-Montes, where they may either shut themselves up in their fortresses, or be enabled to make terms with the Govern ment. Since Spain has made the amende (as / the news of the day is), orders have been given for the march of various por tions of its troops towards the Portuguese frontiers, in order to disarm all refugees from this,country, and to remove them 60 leagues into the interior, and to keep them in bands of not more than eighty men. Whether this plan will really be acted upon, remains to be seen. There is little doubt, that by the aid of the British troops, the Government will be able to organize sufficient troops to put the rebellion down. The English troops landed to-day, and have been quartered in the neighbourhood of this city. All Lisbon was on the move ment to see, and many of the shopkeepers hope to make plenty of money by their sojourn. The chief opposition to the Constitu tion has been exhibited in the provinces of Tras_os_Montes and Upper Beira ; but it is asserted as a positive fact, that the people of the other provinces are far from being well affected towards it. The origin of this dislike appears to be, that they were ignorant at first of its being different to the old one, which was borrowed from Spain, and for 'that very reason held in abhorrence. That party of the Royalists who put the former Constitution down, is very strong, and their indignation has been highly excited at per•- ceiving that many of the leaders in the revolution of 1820, to . them most odious, have found employments under the present sys tem. This furnishes them with additional motives for seeking to overthrow it ; but a fleet of 12 sail of the line, and a well disci plined army, will soon frustrate all their efforts. " The arguments on the side of the Royalists are, first, that Don Pedro, in becoming Emperor of Brazil, and the sovereign, in fact, of another nation, forfeited all right to the throne; that he could not, therefore grant a constitution; that, above all, he could not alienate the throne from his son to his daughter; and that by the ancient laws of the kingdom, Don Miguel is the law ful heir. To this, the other party answers, that Don Pedro having been reconciled to his father, having been recognized as the Portuguese Sovereign by his nation, and by the Powers of Europe, was by right king, and could give a constitution if he pleased. Whether England will have to keep troops here until that period, is yet to be determined. There was an attempt by a party of the garrison of Elves to obtain possession of that for tress, the chief in Portugal, but it was put down. This being New Year's day, sermons have been preached in all the churches, recommending submission to the constituted authorities. The landing of the British troops, with their bands playing on the river, gave great eclat to the scene. Tile Consti tutionalists and the shopkeepers are in great spirits, but the opposite party, and particularly the Monks, look sullen and gloomy. The officers must not attempt to swagger or bully the people, as they are accused of, or they will repent it. Beira is a wealthy, populous, and fertile province ; Tras-os- Montes, mountainous and sterile. The retreat of the rebels is re garded as a defeat." " JAN. I. —l have written another letter, to explain the news and hopes of this day : it is enclosed in this. Spain, as you will observe, has been forced to yield ; and I question much, if the dangers which the proximity of this country will give rise to may not cause a similar constitution to be wrung from Ferdinand. Will he, in order to arm himself against it, consent to make terms, and to acknowledge the Cates' bonds, in order to make a loan ? There have been various arrests to-day among the monks, and some very eminent men in point of rank and talent have been im prisoned, for dissaffections to the constitution. " The rebel army is like the Government, without much means or money, so it is reported ;- the charms of a protracted warfare are therefore very small. There were several persons shed tears of joy on seeing the British troops land." "Lissotr, JAN. I.—The Gazette of this day contains the fol lowing official article " WAR DEPARTMENT.—No. 28. " We, Donna Isabel Maria, Infanta Regent, in the name of the King, Senhor Don Pedro IV. by the Grace of God, King of Portugal and the Algarves, &C. make known to all our subjects, that the General Cortes have decreed, and wawill the following law:— "I. Ourtourts-martial shall, during existing circumstances, take cognizance of crimes of high treason of the first degree com mitted by military persons, notwithstanding any laws to the contrary. " 11. Military persons guilty of the said crimes shall be shot, with due solemnity and preparation. " 111. Those offenders, however, who may be absent, shall be tried as heretofore, by civil jurisdictions." SHIPPING INTELLIGENCE. FROM LLOYD'S.—(Tms DAY.) DIAL, JAN. 16.—Wind about W. moderate.—The Nether. lands line-of-battle ship Zealander, for Batavia, has put back, and remains. The Craigesa, Ray, for the Cape of Good trope ; Zinchal, 111Therson, far Gibraltar ; and Reward, Terry, for Ja maica put back and remain, with the Leonidas, Enterprise, and (the tward bound. L: . 1, .00r.,, JAN. 15.—A brig about 200 tons, supposed to be grain laden, is on shore on West Hoyle Bank. The Ogle thorpe, from Savannah, is on shore near the rock Jerry. The sloop Friends, from Killough for Liverpool, was driven on shore at Fernelly, without any person on board ; 10 bags of oatmeal, and 6 barrels, with part of the materials, are saved. The Nancy, Weeks, from Newfoundland for Liverpool, parted with both her cables in Studwell Roads, and went on shore in Cardigan Bay. Arrived in Studwell Roads, the Pelican of London and Cork, for efcropm T ac h kL e eet: v i e lAo ss lt e nki l ..n o .. n . from Bangor; ir ar miloals:tihrdi„o for Liverpool r f p r o o o n l i ; W s i u ck sa l o n w iiah fo , r j ts n va es n , se f a r ; .. Fly L , on C d oLl, from i Newry.b Q ber e d I) , for Bangor ; Fairy, Welborn, from Trieste for Liverpool ; At lantic, Johnson, from Prince Edward's Island, in 43 days ; and PLYMOUTH, JAN. 15.—Sailed the Lowther Castle, Baker, for sthhoereGeonorfveestthenl;:yoluertish tisiteeairroert,hefrrso, B om b a y ; Lord Cochrane transport, Sutton, for Corfu; India Bushman transport, Brown, for Lisbon; Kitty, for St. Michael's PORTSMOUTH, JAN. 16.—Arrived the son, from Quebec. FALMOUTH, JAN. 15.—Wind N.—More breeses.—The Stam mer packet, arrived yesterday from Lisbon, brings accounts of the arrival of the following transports, viz. ;—Wellesley, London, Crown, Emerald, Active, Helen, Latona, and Regulus. Outside the bar—the Archibald. HOLYHEAD, JAN. 15.—Yesterday, about 6 p.m., wind N.N.W., blowing a gale, his Majesty's ship Nimrod, Captain Spartiate, from Cork to the Clyde, brought up in these Roads, and about midnight drove on the shore bilged ; as also the Panther, both Hathaway, willbe from wrecked. BrunswickLiverpool, hoard t° sa; d. The Erin, Mahony Atkinson, from Cork to Dublin, was driven on shore in Cardigan Bay, on Sunday. The Rover, Lowes, of South Shields, was wrecked at Winter ton, on Sunday. 'I he Eagle, Haynes, from Berbice, and the Daedalus, Crichton, from St. John's, New Brunswick, were driven on shore at Whit stable, on Monday, with loss of anchors and cables, and must be lightened. NORTH AND SOUTH AMERICAN COFFEE HOUSE. (Tins Div.) QUEBEC, Dec. 12.—1 t is many years since we have had such mild weather at this period. Heavy rains fell on Friday night and on Sunday ; the snow disappeared a third time, aid the naviga tion of the St. Lawrence is now perfectly practicable (on the 11th Des) This makes seven months and nineteen days during which our navigatiiin his been open. A letter to an Officer, recently arrived in this command from England, states, that Lient.-Col. Cockburn, late Deputy Quarter master-General in Canada, is to be appointed to the situation of Slave Protector, under the abolition system, in Jamaica, with a salary of 3,0001. per annum. On Tuesday au extensive forger, of the name of Al'Millan, was apprehended in Glasgow. When he was brought to the Tolhooth, be was told that he must suffer his person to be searched, to which he objected by every means in his power. The officers on this account became the more anxious, and a scuffle en sued. The prisoner appeared particularly desirous to protect his hat, which the officers observing, it became the subject of keen contention, and was torn into a hundred pieces in an instant. .ll'Gruer seized one paper which fell from it, that turned out to be a forged note, and the Irishman held another with the tenacity of grim death, but, alas for him ! on opening his hand, he discovered, that, instead of the note, he had been attempting to conceal a piece of the lining of his old caput-piece. He has been fully committed for trial.— Caledonian Mercury. VALUABLE PAINTINGS. To be SOLD by AUCTION, By Mr. WILLIAMS, At the AUCTION MART, Bartholomew-lane, on FRIDAY nest, Jan. 19, at Twelve o'clock. A Choice COLLECTION of PAINTINGS, of 111 the Italian, Spanish, French, Flemish, Dutch, and English Schools, including, among many other rare Specimens, an Original Picture by WEST, BRUTUS vowing vengeance against the TARQUINS over the Dead Body of LUCRETIA ; also, frog' the Pencils of the following eminent Masters, viz. A. Caracci Jan Miel C. Maratti Canaletti S. Ricci Van Eyck Domenichino Wouverrnans Albert Durer Mehl.' Quintin Matsys Withoos . G. Poussin Van Gool Panini G. Morland Alonzo Cano Williams, &c. B,:e. The whole in a fine state of Preservation. To be viewed two Days preceding the Sale, and Catalogues may be had at the Mart, and of Mr. Williams, Throgmortoo street. i DAY AT ONE 0 CLOCK. South Sea Stock Old Annuities New Ditto Ex. Bills, £l,OOO 'M. 22 20 pm• Ditto 5OO 2d 22 20 Igo- Ditto Small Ditto Commercial Rank for Account India for Account Cons. for Acct. 79% 8 PS 9 [JNDS AT ONE O'CLOCK. Neapolitan, 1824 Peruvian Bonds 3l Portuguese Bon& -- P,russian, 5 per cent. - Ditto, New .-- Russian, New, 5 p. c. 96 5 1,.., Spanish, ISgl Ma Bl3 12% -- _French E R x el c i h tes an , g s e p. c I—f ..... t..--:: —3 per cent f —Exchange -t. ....C. 3 AT ONE O'CLOCK. Paid. Per Share. 120 22% 23 )c. i pan y .NGR YESTERDAY. ILeghorn 47li Genoa 4.3S Venice 46 Malta Naples 3'34 Palermo per oz. 114 Lisbon sosi Oporto 50% Rio Janeiro 4l Bahia 43 Buenos Ayres Dublin, '2l days' sight l4 Cork l.l BULLION, PER OZ. S. (I. Portugal Gold, in coin—. 0 0 0 Foreign Gold, in bars 3 17 6 New Doubloons '3 13 3 New Dollars 0 4 Silver, in bars, standard 0 4 111 I%IA Arrived. Due, O America 0 O Brazil 0 0 Buenos Ayres O Donaghadee 0 _ _ ILS. Arrived. Due. O Guernsey&Jersey 0 O Hanaburgh 3 O Holland '2 O Jamaica 0 O Leeward Islands O Lisbon 0 • 0 Malta 0 2 Waterford 0 - ------ I Dublin 0 Flanders 0 2 France 0 Gottenburgh 2 HIGH WATER AT LONDON BRIDGE TO-MORROW. Morning 9 minutes after S. j Evening 29 mi nu t es a ft er 5, triZ . . _'.. . .: --. • . ,- iv , . t , , • ' _ < , Ji.- _ --.-41....-- ~.•7 ' lip - . ' '‘4l'7ld-1 \ Ult LONDON, VEDNEADAY EVENING, JANUARY 17, 1827• We received last night the several French Papers Saturday and Sunday ; and at an early hour this morn-, big an express reached town, bringing an Etoile of the date of yesterday morning. The latter communicates to us that a considerable decline in the Funds had taken place in Paris on Monday, which is said, by private letters' received by the express, to have been occasioned by rumours of war. The 3 per cents. had been as low as 66f. 30c., but left off at 66f. 60c., and the 5 per cents, at 99. This last number of the Etoile has not a word of, news from Spain and Portugal, but in quoting a para graph from the Quotidicnyte O'er the purpose of class ing i(under Lies of the Day) which stated,'that cc the Etoile announces that there are 30,000 men assembled on the frontiers of Portugal," the Etoile observes,-- - ' We said it was affirmed, that there would he above 30,000 men on the line, but we do not believe that there arc 10,000 at this 4 moment." This, however, by no means amounts to a contradiction of the asser tions of the other papers. It is understood that the Paris Morning Papers of Monday do not contain any more recent news from the Peninsula than that in the papers of the preceding day, which brought the accounts from Madrid down to the 4th inst., at which time no conclusive determination had been taken by FEB' DINAND. Mr. LAMB still remained there, but the greatest activity in the military depart ments continued. Of the 30,000 men w hich it is said will be assembled along the line from Galicia to Estremadura, 3,000 are to be cavalry ; and it was then rumoured that Lieutenant General SARS FIELD will have the chief command, with Major Generals RODIL, OREIL, SEUTI, &c., under Vim/ in command of divisions. The same letters mentioned that M. de LIMA would be received on the following day at Court as Charge D'Affaires, in return for the reinstatement of Count de CASAS FLORES, i n his functions as Ambassador at Lisbon. The intelligence , from Portugal, in these papers, has been entirely an ticipated by our direct communications from Lisbon. The arrival in Paris of the Prince de POLIGNAC, the French Ambassador at our Court, has given rise to various surmises ; and it would really seem that his visit had connection witl► some important political or , ministerial arrangements. This Nobleman has had frequent audiences with the King of FRANCE, the Minister for Foreign Affairs, and M. de VILLELE• The Courrier Francais of Sunday affirms that he will not return to London, but that this change does not arise from any alteration in the political relations between Great Britain and France.--- The Prince is said to be too warm a Catho lic for a Protestant Country, and to dislike the policy of M. DE VILLELE with respect to Spain and Portugal. Hints are thrown out that the Prince will be sent on a special mission into Spain, or that as he is the principal hope of the Aristocratic and devout Party, M. DE VILLELE will cede to him his direction of public affairs. Whether these reports may in some degree explain the fall in the French Funds we will not say: but there can be no doubt that matters. of PRICES OF STOCKS TILL Bank Stock 2Ol 3 per Cent. Red. 3 per Cent. Cons. 7B 7,61 , 4% 3 , ,4 per Cent. B6 Ditto Red 8.51 4% 5% 5 4 per Cent. New e 344 ?iil4 Ditto, 1826 944 4 Bank Long Ann. 1 8%14 India Stock — Dittoßonds — PRICES OF FOREIGN_F Austrian Bonds, 5 per cent. ... Brazilian Bonds 59!.1 9 Buenos Ayres Bonds — Chilian Bonds, 6 per ct. — Colombian Bonds — Ditto, 1924 al 24 1 74. Danish, 3 per sent. 57 VS 34 Greek Bonds Ditto, 1826 — Guatemala MeKican Bonds — Do. 1825 — 62% 1%4 PRICES OF SPIARE. Brazilian Mining Company Potosi La Paz and Peruvian Agee United General Gas Company..., British Rock and Patent Salt Corr COURSE OF EXCH) Amsterdam C.F. 12 4 Ditto, at sight Rotterdam 2U. 12 4 Antwerp Hamblin!) 2i U. 37 0 Altona 2% U. 37 2 Paris, 3 days' sight Ditto 2 U. 25 60 Bordeaux 25 BO Berlin Frankfort on Maine, Ex.M. 151 Petersburgh, rble 3 Us. 9 0 Vienna, effective fi 2 M. 10 11 Trieste do. Madrid 31% Cadiz .. 31% Bilboa Barcelona '3 3 1,4 Seville 'l3% Gibraltar 45