The Sun. — London, England, 1832-09-12 00:00:00

V )mmoa prudence and commercial experience, would it net necessarily appear to them to be a proper course to reduce their issues when ihrir tuition should be greatly drained by an unfavourable exchange ?—Yes ; but then comes another question, and that is, the risk that it may occasion to the commercial world ; and the possibility that, by omitting to take that measure, some fiVourahle turn would take place, and render the convulsion that might ensue from the measure itself unnecess iry. You have spoken of the eXtremely gm ill quantity of gold which existed in the Bank of England in 1825 ; coin you state what was the comparative quantity of gold itia the possession of the Bunk at the tine of the stoppa2e of the Bank in 1797 ?—No ; it is on record, and there can be no trfficulty in ascertaining it ; but I should think it was somewhat about the same amount as in November ; it was reduced very low, but not so low as it was in December, 1,925. Referring to what you have stated, of the utility of 11. notes in protecting the credit of the Government and the Bank in December, 1825, do you think it Was a wise measure to pass the small note Bill in the spring of 1826 ? —I should be very el td to be excused eivinf, any opinion upon that, for my opinion is very little worth having, If it appeared to the Bank that their supply of bullion was more than sufficient, what means might they adopt to releve themselves front a part of it?—lt is very difficult, but t.y calling in their notes anti iss.iing coin instead. Is that the only mode in which they could do it ?—I know no other. Would not putting out notes by the purchase of x chequer-bilis have the sAme effect?—No, hecaUm the bul lion would otill remain in the Bank. Would not that have the effect of turning the exchanges in a gre-it measure against the country?—lt might, but I think it would be rather a circuitous way of doing it. In the month of December, 1825, the Bank made very great advances to the public, and you are of opinion that by those advances they saved the public credit of the country and the private credit of the whule commercial community; at that period you have stated that your balances of bul lion and coin were very low ; are you not generally of opi nion that in all cases of panic, though your coin may be very low, it may he judicious in the Bank to advance Bank notes, to prevent the increase and mischief of the kind described ?—I have no dotibt of it. If, for example, in the year 1825, instead of three or four bankers, half a score had failed, by which the public embarrassment, discredit, and distress would have been ex edingly increased, are you not of opinion that it might not then have been in your poster to have alleviated the mischief?-_I think we were within an ace of the whole effort failing to save the credit of the country. You think, therefore, that it is not on every possible pension strictly true, as a General maxim, that it is wrong in the Bank to advance Bank-notes even when the bullion may be exceedingly low?—That has always been my opi nion ; but I know that it is one that has been extremely criticised and objected to; but I am glad that I am out of Om way of the exercise of so painful and anxious a responsibility. As every general rule has an exception, do you not think that such an exception to the rule referred to existed in the month of December, 1825?-1 am sure it did. When the Bank increased its iasues in 1825, with a low state of bullion, was not bullion at the same time coming into this country ?---Yes, the tide turned in the latter end of December, hut the brat gold that we got was consider ably above the 31int price that was owing to the efforts we made over the whole Continent. Was not that drain of gold, at that period, for the pur pose of supporting the credit of the banks in the country, an:- not for the purpose of exportation?—Dccidedly, to support the credit of the country; but as the exchange s, till the latter end of Dee-tuber, continued in a depressed state, we could not tell whether the attempt would he sue ccssful or not; not that the fall in the exchange was at time fxri•ssive, and it would be more correct perhaps to 8.1: that the state of commerce during the period was fo.ch is to preclude the influx of gold; but the tide turned and favoured our operations; moreover, when the alarm subsided, the !!old which hid been sent into the country won flowed back into the coffers of the Bank. were aware, when you did increase your issues, tl at the danger was not from the exportation of the bul lion, but from the call for that bullion for the support of the banks in the country ?—Certainly. Did you sell public securities, or did you issue notes, in order to obtain this large supply of bullion in Novtmber and December, 1825?—We sold public securities; we re •ovr4Ars.."..ra-sns • s th e tubss.sseti. panic varnished like a dream ?—Yes, whether that was the cause or not, the fact is perfectly right; the 11. notes were received with acclamation, almost. Had you any doubt it was the cause ?—I have none upon the face of the earth. Would not, in your opinion, the proper conduct for the Bank to pursue have been totally different between the two cases, of a drain for the purpose of exportation, and a drain for the purpose of supporting the country banks ? —Yes; at the same time I must honestly confess that the country was in such a state that it was a choice of evils ; and it was very difficult to say which was the wise course to steer. Although in older times the Bank did not act upon an) solemn resolution of looking to the state of exchanges, still, did not that circumstance enter into their general consideration of the motives by which they shou'd 1), guided ?—No doubt. Doe's it not stand upon record that, at the period of the stu.pension in 1797, one of the representations made to Mr Pitt at the time was the danger arising from the Austrian loan ?—Yes. Does not that point out that the Bank, although not tied down by any positive resolution, did look at the state of the (reign exchanges, in the general conduct of their affairs ?—There is no doubt of it ; whether they were always as much alive to it as some persons think they ought to have been, 1 am not prepared to say ; hut, on the other hand, to say that they were unmindful of it is really a libel upon them. Was it not the fact, that in the year 1797, at the time of the suspension of cash payments at the Bank, the foreign exchanges were, and had been fur some time, in our fa vour ?—Yes, they were. You stated that the foreign exchanges became in our favour at the end of December, 1825: do you think that that turn of exchanges, at that critical period, was occa sioned by the great and sudden fall of prices which accom panied the panic in London ?—•I have never considered it in that point of view. Do you recollect the circumstance of cargoes of foreign goods which hid been at that period recently imported, being sent back to the ports they came from, in conse quence of the distress in London at that period ?—No, I never beard of it ; there might he solitary cases of that kind, but 1 should think to no great extent. Would not the great additional pressure upon the money market of London which the panic occasioned, have a ne cessary tendency to draw mon , y to London from commer cial towns abroad, in consequence of the low price of Bri tish and Foreign securities and commodities ?—I think it would operate ; the merchants endeavour, by every possible means, to draw their money, if they have it, from abroad ; they would endeavour to pass their bills upon the ex change, and that of itself would assist in correcting the exchange. Then, if that had not taken place, and had not cor rected the exchanges, but the exchanges had continne.! unfavourable for one or two mi.ntlts longer, would the Bank have been in a secure situation with 1,300,0001. of bullion at the end of November, 1825 ?—No, certainly ; if the exchanges had continued unfavourable, and we could not have got bullion in, it does not require much wisdom to see that we should have continued in a must deplorable state. Does it not follow from that, that the circumstance of the panic did probably interfere to save the stoppage of the Bank or of the Treasury ?—Amongst other efforts that the Bank made, they encouraged the taking of paper from the da.rent merchants, where they could do it with safety. Did not they cause bills to be bought on the Exeb loge ? —.Yes, that is what I mean. If there had been another bank of issue besides the Bank of England in 1825, do you think th it circumstance would have been beneficial or otherwise to the support of com mercial credit ?—I am afraid it vcoull have bven a divided interest, and that no good would have resulted from it ; in Lontion, decidedly not. Are you quite certain that you are correct when you state that the exchange was not favourable to the country before December ; does it not appear by the quotations that they turned in our favour in October ?—I think not ; it is always possible that there may be a quotation appa rently in favour of the country, when in tact it is not so; you cahnot always rely upon the exchanges quoted for the business done. What was the date of the Bank determining to increase i 's issues of notes, apparently in defiance of the ordinary rnle , which govern its issues ?—lt was not till the latter end of the y. ar 1825 ; I cannot charge my memory as to the date; I sitoui.i ,hii,k that it was in November that we began, but I speak doubtfully. You have stated that the Bank, during the panic, end sl.ortly after the panic, lent money upon Exchequer-hill, u on funded property, and upon personal security; did your answer Apply merely to applicants in London, or to other parts of the country?—'to other parts of the noun try, through London holves. Did the Bank lend 'money upon the deposit of goods tn. ether with personal security to manufacturers in Scot ?—Yes. To any considerable amount ?-IVot to a very enormous amount, but to a very coftsidcrilble amount ; we had de putations from E , lint.crgh, and we had a deputation from Glasgow; the Lord Provost of each city came up, and r:et-e with the Directors, urging assistance which they 'ould not obtain in their own country. Then you had applications from the manufacturers of Scotland for assistance, which assistance they could not have obtained except through the meclitlm of the bank of England ?--It was so reptesented to us, and I believe it was the fact. Had you appliv.:ations from other considerable outports of England?—From several of the principal towns of England, but most of the applications were though the gentlemen in London. Were those applimtioris for the aid of the manufactu• rers and mertthants that resided in those outports?—They wen" Is it not in the nature of what is called a panic, or, iu other words, a great distress for money, in London, or in any other commercial places, to draw capital into it from other parts of the world, without 'reference to the imme diate operations of the Rink ?--It is certainly obvious, that individuals who must partake of the effect of that Valk, will look about them, and endeavour to raise the ways and means where they can ; to apply it to myself, if I saw there was likely to be a very great scarcity of money, and I had a large sum in Amsterdam or Pad-, if I could, I should draw that home. Does not that only induce the English merchant to draw his money home, but does it not also induce the foreign merchant to send his money into the place where money is much wanted ?—That admits of a question again, because if the panic is so serious and continues, it is possible the foreign merchant might say, my money is better where it is, than to send it there. Does tot that transfer backwards and forwards of capital and of money from one country to another, take place by the merchants of the country, without the intermediate in terference of any alteration in the trade and merchandise taking place?—Yes. Tien it is not true to say that an adverse state of foreign exchanges advances the price of merchandise, and that merchandise goes out for the purpose of bringing in money, but there is an intermediate traffic and dealinl in money itself, and in capital, which circulates backwards and for wards from one place to another, without any immediate necessary reference to any corresponding traffic in goods ? —No doubt of it. Is it not in the nature of a panic to lower prices, and therefore to arm advantageous means of investment to those who have cipital, snd is it not from that circum stance that there are advantageous means of investment offered, that capital comes to that country where the panic exists ?—lf the panic do's not extend to any very serious state of things I should think that would be the case; but wb.-n we are speaking of a panic, such as the one alluded to, I think if a foreigner were to be aware of the situation in which the country was klaced, and conse quently every individual in it, he would pause a little before he sent his money here. . If a person having money io the country saw that the price of Conso!s fell greatly below the average price, would be not think that an advantageous period of investment, and be likely to send his capital to London for the purpose of making an investment ?—No doubt, if his confidence was still buoyant. You s:ty, that in . 1825 there was a general spirit of spe culition, which the Batik of England was very unwilling to encourage ?-I(es ; I know that was my feeling to a very great extent, anti I have no reason to doubt that it was the opinion of the majority of the Directors. Do you attribute that spirit of speculation at all to over issue of paper on the part of country bankers?—No, I do not. TO BE CONTINUED. BANK OF ENGLAND. REPOR r. The SECRET CommirrEE appointed to inquire into the expedi ency of renewing the Charter of the Bank of England, and into the system on which Banks of Issue in England and Wales are conducted; and to whom the Petition of certain Directors of Joint-Stock Banking Companies in England was _ to renew+ the Minutes of Your Committee have applied themselves to the inquiry which the House has committed to them, by calling for all the accounts which appeared to them necessary for the purpose of elucidating the affairs of the Bank of England, and have examined evidence, for the purpose of ascertain• ing the principles on which it regulates the issues of its notes, and conducts its general transactions. They feel bound to state that the Directors of the Rank of England have afforded to them every facility in their power, and have most readily and candidly answered every question which has been put to them, and produced every account which has been called for. The Committee have also ex amined such witnefses as appeared to them, from their practical knowledge and experience, most likely to afford information on the important subjects under their consi deration, who have all ben ready to give tie Committee the most ample information. The principal points to which they have directed their attention are— First. Whether the paper circulation of the metropolis should be confined, as at present, to the issues of one bank, and that a commercial company ; or whether a competition of different banks of issue, each consisting of an unlimited number of partners, should be permitted. Secondly. If it should be deemed expedient tbst the pa per circulation of the metropolis should be confined, as at present, to the issues of one bank, how far the whole of the exclusive privileges possessed by the Bmk of England are necessary to effect this object. Thirdly. What checks can be provided to secure for the public a proper management of banks of issue, and especially whether it would be expedient and safe to com pel them periodically to publish their accounts. With respect to the circulation of paper in the country, the Committee have examined, first, into the effect pro duced by the establishment of the branch banks of the Bank of England ; and, secondly, into the expediency of encouraging the establishment of joint stock banks of issue in the country. On all these, and on some collateral points, more or less information will be found io the minutes of evidence ; but on no one of them is it so complete as to justify the Committee i❑ giving a decided opinion. The period of the Session at which the Committee com menced their labours, the importance and extent of the subject, and approaching close of the Session, will suffi 4 ciently account to the House for the limited progress of the inquiry, and for the incompleteness of the materials which have been collected, for the purpose of forming an opinion. They hive thought it better, therefore, to submit the whole of the evidence which they have taken, with a very few exceptions, to the consideration of the House. Ira their opinion no public inconvenience will arise Iron this publication. The only parts of the evidence which they have thought it necessary to suppress, are those which relate merely to the private interests of indi viduals. The House will perceive that the Committee have pre sented, as part of the evidence which they have taken, the actual amount of bullion at diff-rent times in the hands of the Bank of England. This information has never before been given to the public. It is, however, very es sential to a complete knowledge of the subject ; and if it had been suppressed by the Cumulill4e many part; of the evidence would have been unintelligible, and a false pression would have been produced in the minds of the public, that the Bank were not as well provided with bullion as is desirable, which might have a very injurioue effect. The House will, however, observe, that the Bank is amply provided with bullion at the present time; and it does not therefore appear to the Committee that this in formation being now given to the public can be prodwltive of any injurious consequences. The Committee, however, by no means wish it to be understood, from their having felt themselves called upon to include this evidence in their report, that they have formed any opinion as to the propriety of periodically publishing the affairs of this or of any other bank of issue. There appears to be a difference between a publication of the affairs of the Bank when an inquiry is instituted for the purpose of decidiuig whether the Bank Charter shall be renewed or not, and a p er i o di ca l pu bli cat i on d ur i ng t h e ' course of its ordinary transactions. Of the ample means of the Bank of England to meet all its engagements, and of the high credit which it has always possessed, and which it continues to deserve, no ma❑ who reads the evidence taken before this Committee can for a moment doubt ; for it appears that, in addition to the surplus rest in the l.ands of the Bank itself, amounting to 2,880,0001., the capital on which interest is paid to the proprietors, and for which the State is debtor to the Bihk, amounts to 14,553,0001., making no less a sum tl an 17,433,0001. over and above all its liabilities. August 11, 1832. LONDON, WEDNESDAY EVENING, SEPTEMBER 12, 1832. The Marquis of PALMELLA having con cluded to his satisfaction the negotiations into which he had entered for reinforcing the Con stitutional army, will positively leave London this day, for Oporto, accompanied by M. de BA RBOZA, Don PEDRO'S Under Secretary of State for Foreign Affairs. The Marquis was at the Foreign Office this morning, where he had a long interview with Sir GEORGE SHEE. %juicer ()I nip rani im mime an tnICI ui "..10 services, with a large body of men, to the Mar quis of PALNIELLA, for the reinforcement of the Constitutional Portuguese army. It is with great pleasure we now announce, that the offer has been accepted, and that all the necessary ar rangements were entered into last night. We are happy to state, that the official ac counts from Oporto and Lisbon are of the most cheering description for the Constitutional cause, The letters received by the Marquis of PAL MELLA from Oporto confirm the statement which has appeared in our Paper of the ex istence of considerable Guerilla bands, and add, that large numbers of the Miguelite soldiers had deserted, and returned to their homes. From Lisbon we learn, that Don IVItouEL had re solved on the retirement of General PovoAs, and desired him to demand leave of absence. He had written to GASPAR TEIXEIRA, command ing him to attack Oporto without delay ; but the answer of TEIXEIRA stated, that he had found the city strongly fortified, and the Consti tutionalists determined to hold out to the last extremity ; and that if an attack should be made and fail, the consequences to Don MIGUEL might be terrible. It is mentioned, as a curious fact, that just before the return of the Miguelite squadron from Oporto, Don MIGUEL had or dered his Ministers to send despatches to the authorities throughout the country, announcing the total defeat of SARTORIUS; and Lisbon was ordered to be illuminated. On the arrival of his squadron off Lisbon, MIGUEL sent an order to the Commander not to enter the Tagus; but he replied that his vessels were in so bad a state, that he could not remain at sea. The entry into the Tagus was a sad blow to the Miguel ites, after the story which they had spread of the defeat of SARTORIUS. It will be seen by the following extracts from Don MiGuEL's own Gazette, that he acknow ledges the existence of Guerilla parties, whom he designated as robbers, banditti, &c.:— Lassox, AuG. 28.—The official part contains a report from the province of Beira, stating, that a band of robbers having appeared in the Serras of Bussaco and Beralvo, a detachment of Royalist volunteers of Trancozo was sent to disperse them ; aftt.r which no more was heard of them, fill news was bro .ght that eight men and a sergeant, escorting sonic ammunition sent from Abrantes, had bee❑ attacked by 30 or 40 banditti, who bad seized the ammuni tion (cartridges), and spoiled it, when they saw what they had got. The Governor of Coimbra immediAtely sent a detachment of Royalist volunteers of Penela in pursuit of the r , :bbers, <<nd the militia of the districts all took arms to take or kill this banditti, who dispersed and hid them selves in the mountains. 'the General of Upper Beira having ordered that the banditti should be pursued till they were met with, the people most eagerly executed this older, and on the 15th of August, a Captain of Penacova and his militia discovered seven of the banditti near Con tiga ; they killed one, and took the other six prisoners, two of them wounded. They were brought to the head. goat tern of the province to be tried. The militia were so incensed against them, that it was with much difficulty their lives were saved. .Those who are dispersed are pur sued through the mountains and vallies. • OFFICIAL. LISBON, AUG. 30. " Most Illu4trious and Excellent S"nor,_yesterday I cellency. I reconnoitred the suburbs facing the road from Guiinaraes, between the 3lirante dos Congregados and ma ie the reconnoissance In force toward s the city of Oporto, which I had the honour to announce to your Ex. * This is what the rebels call a Constitutional guerilla of 500 men, and the Courier calls it the majority of the nation, at least, the intellectual or enlightened part of it—vulgarly, the highwaymen, Monte Pedral. The firing commenced at the beginninz of the reconnoissance, and continued half an hour. Our sharpshooters approached the rebels and charged them with erect impetuosity; so that in some parts they got almost to the haveries and entrenchments of the rebels, regretting hat they were not permitted immediately to attack. " The rebels directed their artillery and grenades upon out columns and the place where they were, but their &ring h:id no other eff. et than to wound one soldier. lam as. cured, however, that the rebels had at least some wounded, but I do not know whether they had any killed. " Head platers, Vallongo, Auu. 26. cr Viscount DE PEZO DE BEGOA, " Commander of the Army of Operations." " To the Comic de Barbacena." _ (The Lisbon Gazettes, from 27th August to 4th Sep ember both inclusive, contain no other despatches from he army.) OFFICIAL. LISBON, SEPT. 1.-By this week's mails, which ar rived on the 2/th, 29th, tnd 31st, the local authorities of all the cities, towns, and places in the kingdom, announce to bis Majesty's Government, that in all of them the public tranquillity continued without interruption, hut that the inhabitants were animated with the greatest enthusiasm in the cause of the King and the independence of the nation. Lassos, Auc. 31.—8 y the mails this week we have letters, from which we make the following extracts : VALLONGO, Auc. 23.—A1l our troops are within three quarter@ of a league of Oporto. It is impossible to de scribe the enthusiasm, or we might rather call it the rage, of the soldiers against the rebels, who are in a most un happy situation. As soon as our troops approached Oporto, that city was in the greatest alarm that can be conceived. To-day a French sergeant and two soldiers have come hither, and eleven Portuguese, who beg to be allowed to Join our ranks. _ _ . Conlin*, Auc. 25.—We hear, that with the division beyond the Douro there are 6,000 or 7,000 guerillas well armed, and that all of them, as well as the troops, are impatient to attack the rebels. PENAFIEL, Auc. 18.—Our advanced posts are within a short distance of Oporto. The rebels in that city re mained in arms. Since the 15th the scarcity of flour is much felt, millet flour being sold at 1,440 rs. per alqueire. All the families who are able to do so c.ntinue to fly from the city, which is a scene of disorder, confusion, terror, and imprisonments ; and it often happens that persons ar rested die on entering the prisons of the blows they have rt ceived on the way. TAROACA, AUG. 19.—His Majesty will certainly be glad to know that all the people hasten to his service, and the defence of the nation, with greater generosity and en thusiasm than even on the invasion of Banap.trte. PENAFIEL, Auc. 22.—This town is as tranquil as possible. The divisions have been supplied with all neces saries in abundance. . VALLONGO, AUG. 23.—1 t is reported to-day, that gi eat disorder prevails among the rebels in Oporto. The Gazettes contain a very great number of announce ments of contributions of corn, oxen, &c. for the army. Among the ship news, the latest arrival is a Russian brig at Sc. Julien, on the 3d of Septembcr. —Lisbon Ga zettes to Sept. 4, inclu,ive. OPORTO. (From the Chronica Constitutional.) OPORTO. Auo. 25.—Eight o'Clock, a. m.—The rebels since the 22d, had approached Oporto in three direc tions, viz by the road of Fortniga, that of Vallongo, and that of St. Cosine. To-day the head of the column which had approach, d by La Formiga, attempted a reconnoi sance towards Agoa Ardente and Los Congregados, and the sharpshooters on both sides commenced a firing, which was of short duration. Two shots from a howitzer, of the battery of Agoa Ardente, and three well directed from the battery of Los Coneregados, lolling among the columns of their reserve, determined them quickly t abandon their purpose, and to retreat,leaving three horses dead and a few men, and taking with them some carts with wounded, besides others who accompanied them there on foot. We had one t•oldier wounded. Sufficient praise cannot be given to the coolness and bravery with which our soldiers behaved, and by which they showed the enemy what kind of reception awaited them, if they dared to advance. The Journal contains a proclamation to the soldiers of Don M goal, inviting them to desert from the banners of the Usurper, anti to join the army of the Queen. The Chronica contains decrees recompensing the sth battalion of Cacadore', and the Volunteers of Donna Maria 11. for their bravery and good conduct, both in Terceira and since in Portugal ; also a decree conferring 152 insignia of the order of the tower and sword on soldiers of t a li f e te ,l) r j n ag oo ka n ; , in J E ,: tg q i t n y i Jg; i b t , l i tr r ! , r., a g u t d i i, t e s rao i t n f It t h b e tir o t cst tilcce,imontp. company of the Ist demnedt battalion o death hi of the l aonir S t nRe A 1 larti g a i l ten of In Martial, having attempted nDcpoted to induce some soldiers to desert, was executed according to his sentence. This is the first sentence of death that his Imperial Majesty, acting as Regent, in the name of the Queen, has confirmed, and allowed to be executed. Auo. 31.—A decree, dated Aug. 20, decides that every citizen who, without having a legitimate excuse, shall re fuse to serve any public office to which he is legally ap pointed, sh .11 be forced. SEPT. I.—Sailors of the men •of •war of her most faith ful Majesty having b,•en met in all parts of the city, without any pet son authorising them to be on shore, which can only I.appen from a neglect of discipline by the commanders of the said ships, his Imperial Majesty hopes that he shall not he obliged a second time to cause the commanders of the ships of war to be reminh;ell that it is their principal duty to preserve discipline on board, anti that they alone are answerable for all neglect of orders by those under them. No communication by means of boats between the ships anchored in the Douro and the shore is to be allowed after sunset. SEPT. S.—The Chronica contains a report to the Duke of Braganza, prUposing to alter the laws respecting di ser tion ; signed by the Minister of War, Ago‘tinho Jose Freire ; and a decree by which every soldier who shall be found beyond the advanced posts shall be decreed to be a deserter. The article of the decree of October 13,1830, by which a soldier is not deemed a deserter unless he has been absent from his corps at least 24 hours, is revoked. Chroniect Constitucional, to Sept. 4. Accounts from Peru state that the President of the Republic has issued two decrees, one naming Callao as a port of deposit ; the other permitting the introduction of certain articles formerly prohibited. These decrees are of great length. We have received by express the French papers of Monday, but they are barren of po litical news of importance. The Moniteur contains a Royal ordinance, announcing that General SEBASTIAN! has re sumed his functions as Minister for Foreign A ffai rs. The Duke of ORLEANS is going on a visit to Brussels to the KING and QUEEN of the Belgians. This visit is, no doubt, as much an affair of policy as of courtesy ; for the present state of the Belgian question renders it expe dient that the Governments of France and Bel gium should now perfectly understand each other. It is stated that General ROM ARINO, who so highly distinguished himself during the revolu tion in Poland, has organized a Polish legion, principally composed of cavalry officers, and is on the point of sailing for Oporto, to join Don PEDRO'S army, in which he is to have a high command. A number of horses and a quantity of military stores have been sent to Brest, and will leave at the same time as these brave patriots. STOCK -EXCHANGE, PARIS, SEPT. 10.— The market has been more animated than for some time past, and the prices of Stocks have improved. This is attributed to a rumour that Belgium refuses to let Holland levy a toll on the Scheldt. y o r e per Cents. 9 . 6f. 90c. ; Th ree per Cents. 69f. 60c. ; Spanish 12 ; Belgian Loan 77i. The following are extracts from Brussels Pa pers : BaussEt.s, SEPT. B.—The works at the camp of Diet are proceeding rapid , y, under the direction of M. C,mb•er. They are executed by the soldiers cantoned in the environs. The camp is intended to receive 6,000 men, and will be on an ent , re:y new plan. The Alinisterial Departments are busy drawing up the budget and a multitude of laws, whicli will he presented to the Chambers. The 21 h Atalion of the sth Regi►aent is gone to the frontier to re'ieve the 4th battalion, which re•urns to the c ity. It is said that the first distribution of the Cross of the Order of Leopold will be on the Anniversary of the " September days." The first nominations are expected to be of persons wounded in the r e volution. —Brussels Papers, Sept. 9. There is a si.ory current in the political cir cles this morning, that in an interview between the Speaker of the House of Commons and Earl GREY, the avowed object of which was to thank the Premier for the kind expressions used by Lord ALTHORP in the House when pro posing the pension, the Speaker hinted at the expectation entertained by his friends, that the usual compliment of the Peerage would be paid, and that Earl GREY immediately observed, he would never recommend the KING to confer the Peerage on a gentleman who had endea voured to defeat the chief object of a Cabinet acting in the KING'S name. We do not vouch for the correctness of this statement ; but the truth of it seems to be assumed by some of the Speaker's friends, for they rail at Earl GREY, and observe that the services of the Speaker, as such, entitle him to the Peerage, without re gard to his political sentiments. The public at large, however, will think differently, and only regret that similar firmness and de cision have not always been shown by Earl GREY. Whatever may have been the conduct of the Speaker of the House of Commons in the Chair, which he has so long and so ably filled, it must not be overlooked that as an Anti- Reformer, the influence of the Chair was indi rectly exercised by him, and that if the cause of Reform had not been strong indeed, his influence might have inflicted a severe blow. Besides, would it not be an insult to the nation on the part of the Crown, to grant the Peerage to Mr. MANNERS SUTTON, whilst it is withheld from honest Reformers, who had been taught to ex pect it as their due ? In the Cork Southern Reporter of Saturday we find the following paragraph, which refers to the late distressing tithe conflict between the Police and peasantry at Castletownroche : " The flock of the Rev. Mr. GAVAN, in the parish of Wallstown, which has just got such a bloody notoriety, consists of one Protestan', exclusive of the Rev. Pastor's family ; and there is no church in the parish." This is nothing new. In the Protestant Establishment, whether of England or Ireland, it is notorious that those are always the most lavishly rewarded who do the least work. The curates, on whose shoul ders lies all the drudgery of clerical business, are paid worse than clerks in a counting-house. The pluralists, who have nothing to do but eat, drink, sleep, and cultivate a circumference, re ceive a more magnificent allowance than nine out of ten of the minor German Princes. — In Ireland this systematic outrage on every principle of common sense and justice, has been carried to a degree absolutely beyond belief.— There, it is no uncommon thing to find a wealthy RH: XV Ntl' fg, l a€is Viatir,efsihilON i h en i t l ig; to preach in, or a congregation to preach to, yet nevertheless deriving from the hard-earned pit tance of his poor Catholic parishioners, an income exactly proportioned to his utter inutility. In any other situation of life, such a glaring injustice as this would not be tolerated an instant; but in the Irish Protestant Church, even absurdity is con secrated, and woe to the unhappy wight who attempts to divest it of its false halo ! That Ireland has at length become fully awake to the monstrous iniquity of the poorest Catholic country in the world being compelled to support the richest Protestant es tablishment in the world, does not in the slightest degree surprise us ; our only surprise is, that the discovery has not been made long before. Still less are we astonished at the fixed resolution of our neighbours to cast off the burden of this monstrous establishment ; for it is really not to be borne. Yet there are individuals—and states men too, some of them—who still assert, that it is consistent with every principle of justice that Irishmen should be taxed to support the professors of a religion which they detest ; and who persist in this assertion, even in the teeth of experience, which is daily convincing them of its irrationality. With such men, facts of course go for nothing, except they favour their own view of a question ; and it is to this bigotted ob stinacy that one half the troubles of Ireland are now owing. By the demise of Mr. CHARLES GREVILLE vacancies have occurred in the offices of Comptroller of Cash in the Excise (6001. per annum), and Receiver- General of Cash Taxes (Nottingham), also worth 600/. per annum. Mr. GREVILLE married Lady CHARLOTTE BENTINCK, sister to the Duke of PORTLAND, by whom he has left three sons and one daughter, married to Lord FRANCIS LEVESON GOWER. We understand, says the American, that the Bonds of the State of Louisiana, for 7,000,000 dollars, have been contracted for by Mr. T. W. WARD, for Messrs. BARING, BROTIr FIRS, and Co., and PRIME, WARD, KING, and Co.—American Paper. DEATH OF A BARRISTER FROM HARD DRINKING.—Last night an inquest was held at 277, Re gent-street, Portland-place, on the body of PATRICK CON ROY, Esq., aged 26, a barrister-at-law. Mrs. ELLEN MlTeitzr.r., of 277, Regent-street, said she had known the deceased, who resided at 2, Gray's Inn-place, for 14 years. He was a man of strong passions, and when be gave way to fits of excitement, had been known to drink off a pint of brandy at a draught. He came to her house on Monday night, and after he had been there a short time he event out and bought a bottle of brandy. She and her friends endeavourtd to prevent him from drinking it, but he persisted, and he drunk it all in fifteen minutes. He fell hack in his chair insensible, and on a surgeon be ing called in was found to be dead. Mr. Ccarr, of 35, Castle-street Eiet, surgeon, said that death was caused by suffocation from the effect of drinking brandy, which pro duced apoplexy. Verdict—Death from apoplexy. This part of the country has wonderfully es caped the heavy rains that have been going about, t yp e _ cially in the northern counties of England. At no time since the beginning of harvest have we experienced any weather that was injurious to the crops, and during the whole of last week we had not a single shower. 'fliere was yesterday (Sunday) some rain.— Glas g ow ti ered, It is not generally known that by one of the his boils, mornin , ,!, provisions of the Beer Act it is enacted, that magistrates he i c beer,le di division, o o n n , e it a i n t d h itshceosuanntlye, e r v e e c n •e i n n t g l . y_co .c n v 4 i e c s t t a;: . may convict an offender on each of any nutn'.er of charge s that open may a, ti selling i b n r g o ü b g ee b r t against or aiee fohriem4, o'clock e k k e keepin g i t ) and after 10 o'clock in the evening. The magistrates Inc a beer seller, for thirteen separate off,nces (40s each), for re Chronicle. rl:alln" g' SKIPPING INTELLIGENCE-(THIS DAY.) FROM LLOYD'S DEAL, SEPT. 11.—Wind N.W.—Arrived the Henry, D►vidsnn, Williams, George Canning, Somersetshire, and Augus•us Ctesar, from Jamaica; the Hero, Jenkins, from St. Domingo; New Holland, from Pernambuco; the Atalanta, Hepplewith, from Oporto. Arrived from the river and sailed, the Hopeful, Mallors, for the Cape of Good Hope ; the Carshalton, Pack, from Jamaica; the Chieftain, Moore, fr.im St. Vincent's. PoaTsmouTH, SEPT. IL—Wind N. W.—Arrived off port, the President, Moore, from New York, sailed 16th ; the Jane, Dunn, from Quebec ; sailed, the Cygnet, Rolls, for Swan River. . FALmourit, SEpr. 10.—Wind N. W.—Arrived, the Hennes steam-packet, from Lisbon, sailed the sth inst., and from Oporto the 6th. Off port, the Caledonia, Brown, from Port-au-Prince ; the Ardwell, Kemp, from Quebec ; the Mary, White, from Odessa. LIVERPOOL, SErr. 10.—Arrived, the Esk, Dixon, fforr. Lima; the Catherine Ann, Norie, from Buenos Ayres j the Britannia, Short, from Bahia; the Alecto, Aysbford, from Jamaici ; the Lana!) Rook!), from Miramichi ; the William Hannington, Restegonche, and the Mary Ann, Crowder, from Halifax; the Familians, Haab, from Bil bao; the Emelie, Lew-, from Bordeaux ; Off port, the Eleanor, from Matanzas ; Lima packet, from Trinidad ; the Camoens, from Oporto. GLOUCESTER, SEPT. 10.-Arrived, the Elizabeth, Nor thorp, from St. Petersburgh ; the Edward, Husband, from Wyburg. DOVER, SEPT. 11.--Arrived off port, the Rhode Island, from Virginia. Cowes, SEPT. 11. —Arrived the 11ary Ballerd, from Havann ih; Sportsman, from Port-au-Prince; Eliza, Morrison, from New Orleans; and Merlin, Weller, from Honduras. DUBLIN, SEPT. 10.—Arrived the Nero, Manley, from Smyrna; Ma.net, 111'111ann, from St. Lucia; Herald, Hower, from Quebec; Regent, Kater, and Ellen, Evans, from Londnn. CORK, SEPT. 9.—Arrived the Thomas, Richardson, from Trinidad; Frances, Mary, fiom Quebec ; and Liberty, from Abramichi. HASTINGS, SEPT. 11.-Arrived off port the Walaing barn, from Jamaica ; and Blanche, Law, from St. Kitee. WHITEHAVEN, SEPT. 9.-Arrived the Samuel, Magen, from Quebec. YARMOUTII ROADS, SEPT. 11.—Arrived the Henry Appleby, from St. Perereburgh ; and Nichoks, Kelsey, from Archangel. Surar.ns, SEPT. /o.—Arrivcd the Frederick, Young, and Oak, Weldon, from Quebec. GUERNSEY, SEPT. 9.—Arrived the Mercury, Pearse, from Rio Janeiro. St. ÜBES, Auc. 30.—Several vessels have called off here, and some have got over the bar without pilots, but none have been allowed to enter the port. PORT-AU-PRINCE, JULY 31.—The Patriot, Adams, in going out on the 28th instant took the ground near the fort, and remained until part of her cargo was discharged. She was got off without damage, and sailed the 29th for Falmouth. The following extract of a letter has been received al Lloyd's this morning : " LISBON, SEPT. 4.—Admiral Sartorius has cornmu nic.ited to the Foreign Comm Is here, that the entrance of neutral Cl sir's, not laden with warlike stores, will be per mitted by the squadron under his command ; but it is not known whether this Government will allow• any further entries." The Sappho, Wallace, from Demer.as, is supposed to be arrived in the Clyde. The Merlin, Weller, from Hon luras, is supposed to be arrived at Co vs. Arrived vff the Lizard, the George Canning, frosty THE FUNDS.-(THIS DAY.) CITY, TWELVE O'CLOCK. This mornir•g a mail has arrived from Lisbon; sailed the sth in.tant, anfl from Oporto on the 6th inst. By thin conveyance we have been favoured, by a re' spectable merchant in the city, with the following infor 'nation : Extract of a letter from Oporto, September 5 :—" Sinc e my laNt, no occurrence of importance has taken places but every ilay'n delay, on the part of Dan Miguel's arto9 o given us additional strength. The Emperor continues Oporto is at present $ on tne !tar two co r vettes two brigs, and two sloops of war, which it is said, wi ll not sail until the Admiral sends for them. Don Miguel's squ tdron is preparing for sea ; is said they are about ten sail." Extract of another letter from Oporto :—" There is 1: 0 d uht that, in the vicinity of Coimbra, a large constitu t.onal guerilla f o r ce is i n ac ti v it y; severa l sma ll co rps, 0 5 I oth c ,valry and infa n try, h ave j o i ne d th em . A cor ps °I Cacadores also went over to them, but they were immedi' a•ely di-armed, and seat back to their homes, as the coo' stitutionalists were afraid they would play them soi l ' trick. lhe guerillas, who are acting in favour of Do n Pedro, have late'y had some communications with Oporto , sa)ing they were in want of nothing, and only waited orders in what way they were to act." From Lisbon,wehave'the following informs•ion, hearing (late the 4th Don Miguel is displaying the greatest activity to get hi' squadron to sea again ; but I am informed, the squadro n will not be as numerous as was at first intended, as some of the vessels are of more incumbrance than use. The aqua Iron will now consist of only a man of war, a fti' gate. two brigs, and a steamer. Their object is to proceed to 0,:orto, and land a bat' tering train of artillery fur Miguel's army in the north' This operation is to be executed with the greatest secreer PitICPCS Or STOCKS TFIIS DAY AT ONV O'CLOCK. Banic Stock • shut New 5 per Cent. ............ • 3 pe , Cent. Red 3 ner C,ent.Cons. 8 4147s Ditto Bonds 5 6 pm. 3!4 per Cent. — South Sea Stock ... .. 934 Ditto Red shut Old Annuities -- Newfi% per Cent. 93 2% 3 New Ditt0..................... --- 3 ! , er Cent Ann. 1726 .... 3 per Cent. Ann. 1751 ... -- 1 per Cent. 1825 Rank Long Ann to exptre IDitto ..... . ..... 511t1 ••,17 16 Pm. Jan 5, 1860...i.e shut , Ditto Small • 17 18 ,T ,- .. Oct. 10, 1359 - • • • - ;0: tto Commercial ...... .. om Jan 5, 1860 • — 16 i !Mtn A , lvertised ... 16 17 , rn. Jan. 5, IFSO —'Bank for Account.... 19) IE4N April 5, 15841 —llndia for Account ......... -- Jan. 5. IS7n — [Cons. for Oct. 12............ PRICES OF FOREIGN FUNDS Austrian Bonds B9 Belgian Ponds rills DAY AT ONE O'CLOCK. Peruvian Bonds ............ Ditto Account ............... Portuguese Bonds ............ 48!4 Ditto Account .............. Regency Scrip 4 dis. Ditto Account ............4 dis. ,Prussian Bonds ................ Ditto Account ••• • Brazilian Bo:Ids Intto Account 52 Buenos Ayres Bonds 22 Ditto Account —1 Chilian Bonds Ditto Account — Columbian Bonds 11% Ditto Account — Ditto Bonds, 1824 - 114`, Ditto Accontlt - Danish Bonds 7 04% Ditto Account creek Bonds. 2'2 Ditto Bonds, 1825 Ditto Account — Mexican Bonds, 5 per cent 22% Ditto Account — Ditto, 6 per cent — Ditto Account 2B Neapolitan — Ditto Account — Ditto Bonds, 1822 100 Russian Ponds, 1822 .... . ...... Ditto Account 9934 New Loan g 3 Spanish Bonds, 1821 ........• Ditto Account I3N Ditto Bonds, 1523 ......... Ditto Account .............. _— French Rentes, sp. c. —f ---Exchange ...... —f —c. per cent. --I Exchange ...... —c. Dutch Scrip ..................... 44 Ditto Account ............ 44 French Scrip . ................ 2 pm. PRICES OF SHARES THIS DAY AT ONE O'CLOCK• Paid. Per Share. Anzio Mex. Min. Co. (iss. at 5/. pm.) .£lOO 7 Bolanos Mining Company ..£l5O 160 Brazilian imp. Min. Co. (ass. at 5/. pm ) £2O 48% Ditto St. John Del Rey British Iron Mining Company £so 7 3 i V Columbian Mining Co. (iss. at 51. pm.) 48% 6 English Mining Company 12% 204 General Mining Association I l 24 Real dcl Monte Mining C 0...., — . 18% United Mex. Min. Co. (iss. at 2/. pm ) 40 3 Ditto New Set ip.. Alliance Fire Ineurance Comp lO 8 3 4 Protector Insurance Comp. Australian Co. Canada Company General Steam Navigation Co. l3 8 Provincial Bank of Ireland 25 2711 PRICES OF IRISH STOCKS, DUBLIN, SEPT. 8. Bank Stock / — lit. Patrick lnsur .( petShare) Consols, 3 Der cent - Gov. Stock, 314, per cent 91114ational Ditto — Ditto, New t per Cent — !Hibernian Bank — r;ov. Deb. 3 1 ,c, percent.... F 514 'Provincial Ditto — Royal (.anal Stock ....-.... Royal Irish Mine — Grand Canal Stock ...... ... 39U imperial Mine City Deb. 4 per cent....... 77 Mining Co. of Ireland Ballast Office Deb. 4p. c. Commercial Buildings — COURSE OF EXCH.: Amsterdam C F 12 61 Ditto, at sight '2 4 Rotterdam 2 U 12 64 Antwerp 12 8 Hamburg M.B. :4 0": Altena l4 t Paris, 3 days' sight 25 85 Ditto 2 U. 26 10 Bordeaux 26 15 Berlin .NGR YESTERDAY. ( L eg horn 4754 Genoa. .6 5 Venice 47 Malta 46 Naples . 9O Paletmo per oz. 120 Lisbon Oporto 47N Rio Janeiro Bahia 32 Buenos Ayres Dublin, 21 days' sight 13 4 Cork l% Frankfort on Maine, Ex. 11.155 Petersburgh, ruble, 3 Us. 10 0 Vienna, effective O. 2 M. 10 13 Trieste d 0........ 10 14 Madrid 35% Cadiz 3513 Bilboa 35% Barcelona 15 1 4 Seville 354 Gibraltar... ............... BULLION, PER OZ. .E. g. d. Portugal Gold, coin 0 0 0 Foreign Gold, in bars 3 17 9 New Doubloons 0 0 0 ew Dollars Silverhars, standard 0 4 10f r tifijr *lttt4l _ THE FUNDS. The Lisbon and Oporto mails do not bring any idol' mation of grett importance ; .till their arrival is 1 10 without interest, as by the private letters we find thsC both brothers are greatly on the alert, and doing an il l their power to crush each other. Every day's delay ° II the part of Miguel to take Oporto may prove fatal to bia l ; as D in Pedro will soon receive hi s r e i n f or c e ments, and th e winter season is fast approaching. Toe French Funds come lower by the express, 69f. 6 O e. Consols opened at the same price they left off at yester day, 85 to e, since which they have been done at 85, seller °. HALF-PAST OIVO The following letter from Lisbon, has been received a t fist-rate house in the city:— Lisbon, Sept. 4.. " Our port is again in a state of siege, and no v e ssel 1° allowed to enter, with the exception of a few small onel which sailed previous to the restrictions being known, a li the Gov e rnment b e i ng i n want o f t h e cargoes. Sueb is the state of things, which puts a stop to all busineo; By all accounts, Don P,dro has made himself ° strong at Oporto, that even Don Miguel's for te ; cannot dislodge him ; and in a short time, when the r al , coinmeners, Miguel's forces must retire, as they are 0 ° prepared for a winter campaign. If Don Pedro ba d few cavalry to advance, he would be joined by numeroo 4 partizans. Aliguel'a squadron is repaired and again rea d f, to go to sea ; and as Don Pe dro 's foice is off the ba receiveto them, it is expected that Some d ec i s i ve blo b will e s truck. tiie whole, we find people b e corni 4 more sanguine of the ultimate success of Don Pedro. ue Letters have been rece i ved from Pernamb uco , of 15th J u ly, which do not mention any t hi ng a b out the re ; volution mentioned in the American papers to have ta ke place there. Eschanice on London had been ae low as 341. to t y l of, a q s u n a n n n t e ity btag lanokde vlc.7ipippearss, the Exchange is at S r i o money in circulation , b d : Produce very scarce, but eXpcced to b e in abundance , the d►y season his co mmenced. Consols, which were dant! at 85 in the early part of the day, is at present 8.11, 85, with littl e d o i ng . or In the Foreig n M arket Bri.zil Stock has rather I , proved ; Portuguese Scrip, 41 to 4 discount. THREE O'CLOC C Consols 85 f or Account. dt At a Court of D'Over Hundred held 0 , th e a Curk on M or p! • y, the town-clerk read the answer Or V , ELLINGTON to the vote of that Court, ths",,,ip him for th e i mportant a l terat i on i n the I rish Iteforin,.'bd which h e h a d b een i nstrumental in effecting, by whic" t freem en o f t h e I r i s h C orporat i ons were place d tie, by'j equal f oo ti ng w i t h t h ose o f E n;; l an d . I t was o b se rre" if Mr. BASS that every corporate body in Ireland ,Iw ci► u $ manifest gratitude to the Duke likewise; it was, ind ee saving clans: to the freemen. 0' TIIE HIGHEST MOUNTAIN IN SColl' —fi t he —Ben Nevis has, till very lately, been c onsidere d fra: o monarch of Scottish mount a i n s, but it no w appears , , the trigonom e trieal survey lat e ly m a d e by order o' vernment, that lie must yield the palm to Ben b o ut a mountain in Aberde e nshire, who o'trtops him by of twenty feet. The height of Ben Nevis is 4,37 0 fe et o Ben Macdui, 4,390 feet. Thus Ben Maedui is the lofts mountain, not only in Scotland, but in Great 13ritirio• Caledonian Mercury.