The Express.
London, England, 1846-12-11 00:00:00

government is to issue shares upon this sinking
, which shares are to be distributed to the respec-
claimants above specified, in satisfaction of their
, The rate at which these shares will be es-
'. against the bonds of the internal debt will be
cent., whereas the present marketable value of
bonds is only 46. The other claimants
samespecified
receive their respective amounts in the
wennttton.
'The decree lastl provides that a loan of 300 contos
made bythe Bank of Portugal to the con-
, for the duties on tobacco, soap, and gunpow-
orer that the notes issued by these persons
withdrawn from circulation, so as not to inter-
ith the projected monopoly of Bank paper
t is hereby attempted to establish.
principal provisions of this ingeniously con-
measure are those by which a new bank is to
established out of the broken remains of two hi-
lt establishments, and which is to begin its
byg assistance in paper of nominal
to several other bankrupt companies and

sitsblislumeats. i public s to be forced to the admission of a
hich they know well cannot be redeemed ;
returning to the disastrous times when paper
• was a legal tender in this emuttry, and which

rise to so touch abuse and peculation.
government is to receive another advance of
atos from the bank.
Another 300 cantos will be applied to the relief al
Le company of Tobbaco, &c.
Bonds of the internal debt, which, until now, have
- considered of real value, are to be given by the
in exchange fur valueless shares upon a fund
to be created, and the produce of which is,
therefore, unknown.
Thus even the small real capital of the banco de
Portugal is to be dilapidated and distributed between
s government and Its accomplices in the acts corn-
'ed during the Cabral and Tojal administration;
bank is, moreover, to be the only authorised
establishment to begin another issue of notes, which,
er or later, will be again forced on the people.
)wever, things had come to such a deplorable
that, as the minister says in his report to the
Queen, between such a patched up concern as that
devised by the decree, for a general ruin there was
alternative.
Ile confesses that the scarcity of money is such,
the must resort to a system of paper, that in this
,hethinksthe continuance of a circulation of a known
- is preferable to the creation of a new one.
A plainly sacs : "'rho Government cannot pay its
creditors, the Bink cannot pay its notes, the Conti-
' Company cannot redeem its promissory engage-
, deposited in the bank, and the sums borrowed
individuals, in consequence of having applied
funds in the service of the government ; that other
spanks find themselves in the same position ; and
t this state of things, operating on the fortunes
arrangements of mercantile persons, prevent them,
their turn, from meeting their own engagements.
ms, all combined, has brought the country to the
verge of a political and financial crisis."
In order to correct the evil, and to enable one to
help the other, the idea of the new bank was started
by which the old bank and the Confidence Com-
' will be relieved.
order to extend to the others the same benefit,
Minister has adopted the idea of making the new
bank give five per cent. bonds in exchange for the
shares of the sinking fund, by which he means to pay
them.
These bonds, although calculated at 62 per cent. for
'le exchange, are only worth 46 per cent. in the
market ; therefore the creditor will receive in money
buyers can be found) only about 74 for each 100 of
credit.
But the minister says in his e.rpose that the said
creditors will gladly suffer the loss of 26 per cent. in
consideration of receiving a paper which may en t.
at once into cash, to relieve their immediate

wants.
It remains, however, to be shown whence the fund'
r the liquidation of these newly-created shares are
come. One of the sources indicated in the decree,
viz., the national properties, has been already assigned
payment of the national and foreign debt.
As this plan will doubtless create some attention
the part of the financial world, I have thought it
worthy of the somewhat elaborate analysis which I
we offered of its principal details.
A gentleman who recently came from Madrid by
way of Elvas reports that the whole country between
that town and the vicinity of Leyria is favourably
disposed towards Count Bowfin and his colleagues.
The Alemtejo has been left entirely to itself, and the
whole forceof the government appears now to be con-
centrating itself at Cartaxo, which place Schvidback
may have reached by this time, as he passed the
Tagus on Saturday.
Two deserters, young men who had been promoted
by Das Antas from the ranks of serjeant to the com-
mands of lieutenants, deserted from Santarem on
Thursday, and reached Cartaxo in the evening.
Some correspondence, which was on its way from
the Portuguese Minister at Madrid to the Minister at
War here, recently fell into the hands of Count
Boman, who is said to have transmitted it to the
British Minister, in order to convince him of the
direct intervention of the Spanish government in
furnishing arms, clothes, shoes, and ammunition to
Donna Maria's troops. The letters, however, did not
reach their destination.
Count Tojal, arrived here on the 26th ; on Saturday
the 28th, he had an interview with her Majesty, when
his excellency was so unfortunate as to give umbrage
by some of the suggestions or hints that he threw out
respecting the course most advisable to be pursued in
the present juncture. The result was, that the count
quitted the palace under somewhat unfavourable

circumstances.
I forward the bulletins Nos. 26, 27, 28, and 29, is-
sued anonymously by the Das Antas party ; their
contents are unimportant. Some curious publications,
respecting Colonel Wylde and the British Admiral, are
being secretly circulated here with so much caution
that I have not been able to procure a copy. Their
contents, however, relate wholly to the accusations of
which I have already given you a copy, consequently
they possess little interest, and can only be looked
upon as a manifestation of the opinions of those who
sanction their circulation. In one of them is con-
tained, I am told, a succinct narrative of the inter-
view which Colonel Wylde had with the Queen ; and
LS this, in all probability, took place quite in private,
and without any witness, the inference is that the
publication (which is exceedingly hostile to the
British functionary) must have onginated in a com-
munication from one or the other party to the
H.*
conference.
P.S.—The Ring Consort and his two eons had paid
a visit to Sir W. Parker, on board the Hibernia, and
partook of luncheon. The Cyclops reached Oporto on
the 3rd, and found the Gladiator steamer in the Douro.
It is a curious fact that the Countess das Antes, wife of
the leader of the Junta or rebel party, a very fine and
beautiful young woman of eighteen years, and her
sister-in-law were conveyed from Lisbon, having been
put on board during the night preceding the depar-
ture of the Cyclops.

NETHERLANDS.—THE HAGUE, DEC. B.—The
Minister of Finance has just added to the list of arti ate
sre
which enjoy freedom from all import d uties, when they
brought from the coast of Guinea in Dutch ships. This list
will comprehend, in future, cotton, dyewoods, and tortoise-
shell. The consular agent of the Netherlands, at lido, has
just transmitted to the consul-general at Smyrna, an account
of a fresh act of piracy to be added to the many others of
the same kind which we have lately had occasion to record.
List night the manufactory of chemicals of Messrs. Demmn
and Co was destroyed by fire. The CIIUSIMI of the accidrit
an not known, but it is believed that a camphor magazine
was accidentally set on fire. A report reached us yesterday
from one of our correspondents, which appeared to
to so improbable, that we took no notica of
it, but as it has been mentioned !by two other
pap e
n, we now insert it. This report is, that
the innocence of the chaplain Gephins who was condemned
to death at Arnbeim for the murder of Mr. Weigerink has
been proved by the real criminal having delivered !linnet.
UP to justice. It is probable that the report has no other
foundation than what has occurred at Groenlo with a person
who appears not to enjoy the full use of his mental faculties.
The Tyd North Holland Coward again refers to a report
from its correspondent at Batavia, which it published some
time ago. and which we copied, which assert that the East
India Government with Diepoulegoro had engaged to 013Pos•
all means in its power the propagation of Christianity.
Ths Tyd sees a confirmation of this strange report in various
circumstances, particularly in the total silence of the
government.
PETF:AnBURG, Nov. 29.—TheItUSSL1—Sr.
Archduke Constantine has again for some days joined the
Imperial Court, which was at Gatachina for a fortnight, but
*DO, again at Zarakoji-Selo. It is hoped that at the end
of this. week the Imperial family will come to the capital for
the winter. It is true that there are enough amusements
rine on to entertain the le, but the means for enjoying
them are very much , in commecluencs ot the great

authorities and and am* The gee
f their visit —". fend, lei"'
I Governor and tit. or. dail
of the people here b.„ elaurs•_.a a
e of Palmella
ant
elm"e'-.. ~,„r
nded to a great anti: e' per
ve either been oblie,..i than bone
to imprisonment. A 4 will nee.
to exercise the power pro ton
.en (who are exceed,
e dec
government), but the shall be I
of authority was le. trier il
ue, that after a ref; der, mon
t was discovered that ' may be w
;dered to be entitieli-z foe with
the project was aba:: which it i
The r
when the facts alio% ceded nu
weighed, what is tho be establi
the Court party, Ili plead e
.r the policy now bein weer b 3
dens belong rather to due, to
• politics than th the estabsh'
of occurrences, I wait The P
• esire and intention on
piper WI
•nt advisers to warrant ait reti
ms which may tend to Inoue). IV
. which now hang oe r give rise
ions that the reprewn. The g
ish Government at Ls. 300 cont
and a certain dftree Moth
aliets here. I think i the coin)
• here was not, and also Bonds
..• intention on the pan been cot
ingle marine, or to take bank in
to armed opposition to swill to
-relived throughout the theref
• as fact has slowly made Thus
:la Nlariit'b advisers; and Portuga
, has been unfortunately the gov'
which they have eats, matted
• to regard the det, rmi• this be
e light of an injury, and eotablisl
a her. Wiser and higher- sooner .
.e sought to disabuse the How
J. unfounded notions, but state, I
le Crown are not at this '' Queen,
for their sagacity, their devised
ese. The columns of no alto
is now permitted to be f He
.1 gazette (the Diario). that he
us contradictions to the melte'
government as to the paper i
.ce of the Septembrist lie I
26th Nov. there is a aedito
many of the ancient i dace I
their rank and employ. I meats
ntas, and in an adjoining from ii
trtisans of this person ire its fun
rabble, the lowest and eompa
and men destitute able of that tl
•id property. Such being and ar
sing resolved upon by the in the
erfere in the internal and Thus,
1, but simply to exact a verge
rial opponents, that in use In •
the Crown, and maintain help t
id the institutions of the up, bj
• draw the conclusion, that puny
i expectation; entertained In
fleet have been altogether the N
.'s ministers would, at this bank
se with its presence in the share
e to another squadron, the them
-irobablv be less scrupulous Th
ncies of the case than our the e
Crom what I have here mark
the game that is 1101 (if In
ably be made apparent Wei
will be continued witl Br
hitherto manifested on on mai
It will then be alike h. coned
.4 to those who have con verte
has been more than on want
place ; but it is not pro. It
.e will be pursued, for • for t
an arrangement could . to a
on the palace, and also • . Iris.,
nore parties who are, wi . hi p
to to judge, supposed to . A
recent events. on t
exists, I am informed .. wor
vast proportion of ac . • hay.
Idle and trading classes here A
•alty, forced or genuine, as way
ced them to take arms as that
the rights of the throne, are dial
have referred to, and num- The
yen compelled to part with who
r Tnilies, in order to find the een
themselves into uniform. me:
,res recently adopted be the Tel
• restore the credit of the
one which I characterised in b,
s 20th November, as evilly EIJI'
:'er to the Bank rest:twigs Th
. ?lling all persons to accept a 1
sted to the extent of 20 Mr tht
ster of Finance followed op W
,by another document d- - Bc
the introduced by a keg Bt
es which had oppressed of late di
fu
.
oft' -seven articles, ' • I/
which may be thus . .... re
of Lisbon is bencefornd th
)9 of reis, thus constituted: h
spital of the Bank; 3,800 ma, b:
Company of Confidence ; 110 re
nt. cm Us e
.s of per cent
.fidence Compan slaresi !Is, . q
:es ; 1,000 contoay to consist. ol,sol c
these establishments, M it"'
' 50,0001.
ins that the Bank of : ... e
npany are to be merge" c
a
• that this Bank of Port".. 1
• rivilege throughout the ... 1
, payable on demand,
taps! el
• exception being that
a
Oporto, which alrestlY., ,b", , • 1
of this ank are to be diet •
ty in circulation, a gusasa_,
,f which will be „seiZ.
. thus constituted, on us
.
;om where legal tenders
,ranches must either .be ads
or the whole populstioa mI
ce ,"
.
or to a distance greater_ _f
. -der to transact the most I
rs. The Bank 15 81ndother dos.;
W T. 7.
taxes, customN e
. ; which business a PereentB4°
mtmeration. taees ~,k.
A branch bank of this n
• , within the next threer;
• :her bank will be Perlin'
...a. d
the "'—
in circulation of a totes
of 5,000 contos, are 11312,Apes:
in the following Pr: Clio,
vember, 1846, to Jund•Tl; do
any debt may be,_P!' 31, 1348, •
, 1847, to Decemoer3 ._ lit
rged by two-thirds °I I._:-.l"—orie••
ik notes and the rem
te
from that date up,
_iirei —big
y legally acquit Wes' the
notes
ring one half in
mgal will cancel the until,. ociiceththei
• he rate of 18 conics Per
- at of January, 1847- _cote ,a
ogal will make an imp]
to the government.
the p
to be created for ileg7
. Jaime now existinf_ oe,s, ..
dis to consist n
th_ doe
the outstanding Na
_nla 1
...ions, bonds of the r 4 t::ith sop
4 of revenue, togethe_epaetonsilv
toe of rein from tbe ,'
esignated sources. lied to; do
( ompo6cd will be app
e llok 4
I'lecteonithpans goy, vanenund
_.nentothbeete:l37;ol.l
Ls, the advances reePeatio,T.B46 Oa'
from the beginning "
___t
made since May 24, 1846,1tb17
• e 300 cantos to be Presently
e. Comes...r Public Ills%
ma of the a 7 d °the ..
of pensions, selari.toinges, and ~
trios persons, a
e.