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London, England, 1824-04-29 00:00:00

of stock belonging to the public establishments, fee. ought to be
btu before the Chamber. It had come to his (the lion. (Snide-
man's) ear, that one of the exceptions was entailments ( wojoestr).
U so, it wan a return to the feudal system, and a violation of the
Charter which inosecrated the equality of rights. Why should
titled opulence have a dispensation, when the small freeholder suf-
fered a redaction of 1 per cent. ? The maintenance of the inte-
grity of the income of Hospitals, the Munt-de-Piete, the Legion
▪ 5111011 f. bi.e. he (the I *stow; approved. In conclusion, the
Hon. Deputy proposed an amendment to the effect of reducing the
immix upon only one-fifth of the stuck which it was proposal to
telmbinse, vit. :—nne-tifth of 141,0110,000 fr., such fifth to he deter-
mined by lot.
M. RICARD argued, that the project was unjust and illegal, and
voted am it, reserving to himself to present an amendment for
the protetti.Nl of creditors, and to effect a reduction in the interest
without avtiwnting the capital.
The kl isIXTI: a of the F 'NAME! said, it was the force of cir-
cunistance•---the progressive augmentation of credit—the duty isn-
potted nu a Ministers to preserve the advantages so dearly bought,
end the neceviity of escaping from real danger.--which had induced
or wither r. osirshied bun to propose• the measure in question.
The price of Stocks exceeding par, and the transfers arising from
that eireueinance, added to the uncertain price thereby occasioned,
nada net lure been prolonged without duster to the public wealth.
This state of things had not sprung . from the proposition of the
)overnment, hut was rather the origin of the proposition. The'
necessity of the present measure was evident to every one, end the
mains of effecting it presented the only difficulty. Under these
circumstances, there were two points to be acconiilishid ; the first'
was the rtduction of the Interest upon the national debt, so as to
aid the reduction upon private loans ; and the second, to substitute
for the existing public effects such as were free from the danger of
a future reimbursement. These two objects could not have been

secured by any other mode than that proposed ; namely, by cre-
ating 3per Cents at 76fr. which was the same ax d per Cents at
100 fr. His Excellency then showed the reaiion why it had been
considered better to abandon to the Company who conducted the
operation the benefit arising front the reduction, for a haul time,
rather than to pay them a commission ; and added, that this profit,
calculated at 33 millions, would most willingly have been .thrown
into the bands of the stockholders, if the Government could have
executed the project without the intervention of the Cmnpiny. Ile
then punned the !dune line of reasoning as the Committee's re-
port, relative to the augmentation of the capital of the public debt,
ant thy benefit arm ruling to the Sinking Fund ; and otverved, that
whatever was the titmice of stockholders, the opration must be ad-
vantsgirou, to the cuuntry. If they chow: to re-invest their capital,
there would he a mving of ill wilLons, which the nation would en.
joy front the Ist of January, 1326. If. on the other hand, they
preferred reimbitisanent, a volt mass of capital would Mow into the
channels -of agriealture and commerce. 'rile Minister concluded,
by recapitulating the advantages of the measure, and savoring the
Chamber Cunt it had been impinsible to contract with the capitalist,
upon other terms than he had done. •• To me," added he, `' the
advantages are so evident, that if Cite Chamber should judge other-
wise, I shall retain the melancholy conviction, that it is for want of
my having been able to present %Mtn in their proper light."
Adjourned.

PARLLIMENTARY INTELLIGENCE.

DOVSE OF LORDS, IVEnxEsDAY, Arlin. M.

Their Lordships met this day, ',mused to adjournment for the
Ewer holidays. 'The Lord Chancellor, Earl Nclmo, Lords
tialtoun and 11fhntfried, sat at ten o'clock, to hear appeals ; and at
tire the lit use met for the despatch of husincas.
... .. ........

II ERR' rishiEity.

The DIA of SIIA rrtsut: RV presented • petition from the
'Merit• of Ki!raincy, in Yileshire, praying for it continuation of
the bTanties un the hrrring ftsheries.—Laid on the table.
PROCTORS' COSTS BILL (IRELAND).
The Proctors' Costs Dill (Ireland) was read • third time and
pawl.
IRISH COUNTY TREASURERS' BILL &e.

Their Lordship% went into 'committees on the Irish County Trea-
surers' Hill ; the Irish Constahnisry Bill ; the Irish Hecind Hill;
meld the lank l'orfarxe Bill.

SECRET SOCIETIES (IRELAND).

Lord 0041,1111 D prerented a petition from the freemason of
Armagh, praying to he ca,nnpied front the operation of the Secret
Society Att.—baid on the table. .
Lord DUFFEKIN resented a similar netition front the Free-
nations of another town, the named which we could not butt ;
and which was also laid on the table.--Adjourned.

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