The British Press; or, Morning Literary Advertiser.
London, England, 1826-09-26 00:00:00

THE VIGO RAY STHEME.

Yesterday, a Meeting of the Shareholders in this speculation
(Company it cannot be called) assembled at the house of the pro-
moter, Captain Gickeon, Ceoper's-row, Tower-hill. The Meeting
was convened by that gentlemen, for the purpose of explaining to
all concerned what had been the revolt of his sub-marine aeareh
for treasure in the Bay of Vigo, which has already excited a good
deal of attention. The Meetlog was numerous and respectable.
Captain Diet:sot; (as matter of course, the Meeting being held
in his own house), took the Chair.
Before proceeding to the business of the day, there was a great
onwrehwiiier, avi reic:roivilenyerzgatineinntilaydriLtriteiantiettli,n isntrornegferienes to
ono sotititeiestr,e,
deal of private disensaion, in which the name of the Morning Herald
mug;
speculation ; and Captain Dickson, after conferring
1 with some of his friends, begged to know if the Herald Reporter
was in the mom a
A Gentleman attending on behalf of that paper avowed Itimeelf
as the Reporter, and—
Captain bre xsoer immediately said, though he did not mean
to dispute the accuracy of the gentleman, still he would just ask
i him if lie would pledge himself for giving a faithful account of
whatever might occur during the proceedings of the day, as some
very gross morepresentetione had been made in the Murningllet aid
on the "object of the Vig.. Bay Company.
The !Ter alit Reporter made answer, that he could not be held
accountable for whatever might appear in the leading article of the
newspaper with which he was connected, but he would pledge
himself for the correctness of his own report of the proceedings of
the Meeting : beyond that he could no. be expected to give any
pledge.
Captain DICESOM said he was perfectly sntiefied. All that lie
wished was a fair impartial hearing; and lie should, without
further preliminary, enter on the business of the day. He was per-
fectly aware that those gentlemen who had embarked their money
in this undertaking had an undoubted right to look for informa-
tion from the persons who had the management of that money ; and
he was now reeler to answer every question that might be put to hint
by any person, so far as he was concerned. (Hear, hear:_) About
eighteen months aeo he had an opportunity of meeting with some
Spanish gentlemen, from whom information he had first conceived
the Idea of speculating in the Bay of Vigo. After having maturely
considered the subject in his own mind, he wrote to a gentleman
in the province of Gallicia, from whom he received a let-
ter in answer, confirmatory of all that he bad previously
beard, which letter he put into the hands of the eight gentlemen
who had entbatked with hint in this enterprise. The letter spoke
in terms of surprise that the English nation, so remarkable for corn-
omelet spirit, had not hitherto attempted to raise the vast treasure I
so long buried in the Bay of Vigo. and the writer referred to Soto'.
lett's History of England, wherein a reference was made to this
subject, describing that six galleons had been sunk in the Bay,
having on board fourteen million pieces of eight; and the galleons
were said to have been sunk at the time that Sir George Rooke was
cruising off that coast. The writer concluded with an observation
that the recovery of this treasure sax well worthy of that spirit of
enterprise which had always distinguished the English nation.
This letter he (Capt. D.) placed in the hands of those gentlemen to
whom he had already alluded ; and rifler the subject had been Ma-
turely considered, he had the honour of an interview with the Spa.
' nish Ambassador, to whom the thing was eeplained, and it was
finally agreel that one half was to be given to the Spanish Govern.
ment, and the other half was to be allowed to the speculators fur
their trouble and expense. It had been asserted that he had been
in treaty with General Qiiiroga on this subject, but he (Captain
Dickson) woul t now publicly disavow such assertion. Every thing
that hhd been done was done openly and fairly ; the contract was
known on 'Change—it was spoken of in the public news.
rooms—and there were thousands of Spaniards in London at
the time, who might
.have contradicted the assertion of the
Gallicians if they thought peeper. But no one even at.
tempted to deny that the treasure was so sunk at the time
of Sir George Rooke's expedition. The contract was no sooner
effected than it was• placed in the hands of those eight gentlemen
who had undertaken tl:e management of the enterprise. The moat
ample time was given fur inquiry. They 'were put in possession of
Smollett's History, ranch stated that pail of the treo.ure bad been
removed ; a clear proof, he (Captain D.) cancel' ed, that there was
no intention to mi,lead those gentlemen into a bead' that the whole
of the treasure remained'; but, from all the iriformation that could
be gleaned on the subject, there was every reason to expect an
ample reward for their labours, and an abundant recompense for
the outlay of their money. A great deal of misrepresentation had
gone abroad, through the medium of the newspapers (or one of
them at least), but . lie would contend that neilliiig had been kept
back ; there was no concealment, either iu respect to the plan or
principle. Some gentlemen bad asked, peer inns to his leaving
England. what might be the loot, to erica shareholder in the event
of the speculation tailing ? and his answer was, slut it could not be
more thou the first purchase. Ile did not attempt to insure them
ream loss if a failure should ensue ; and they seemed to be satisfied
with the terms of the engagethent ; " for," said they, " we pur.
chase a share on the principle of a Lottery ticket—if it turns out a
prize, so much the batter—if not, we. insist be content with oar
loss." And so it was precisely ; for we might 'as well go and tell
Mr. Bah, because he was a Lottery agent for Government, that
he should make good every ticket he sells, or that he shou'd
insure it to be drawn a prize. (Cries of " Hear, hear, hear.")
In order to afford those gentlemen who undertook the management
Of the concern every information, he (Captain Dickson) wrote to a
friend of his, Mr. Steel, requesting him to search the records in
the Bridal' Museum, and to acquaint those gentlemen with the re-
sult. of his researches, which .bad been dune, and of which Mr.
Steel, as he was present, would inform the Meeting. After ar-
ranging matters in England, he (Captain Dickson) proceeded to
Madrid, where he had an interview with the then Minister, Zea
Berzutlas, who, on the sus jest being mentioned, declared that he
had no doubt as to the tact of the treasure having been sunk,
though he thought that there would be an insummuntabl• difii-
eulty in getting it up. The subject was talk. d of on the Eacurial,
and all the public places of the city, and received full credence.
The Commandant of Marine, the Conde del Espagnol, also ex.
pressed his conviction thee there was every reason to presume
that the treasure was sunk; but he concurred in the opinion
that it was difficult of recovery, because the bed of the Bay
was full sat feet deep with mud. Every information that could
be had in Spain tended to strengthen the belief that great
profit was to be obtained, though probably attendant with mutt)
loss and much risk before the speculators could be enabled to se-
cure the prize. Smollett's allusion to this loss of property was
confirmed by Burnett, who said that the Duke of Ormond Invited
Sir George Rooke to remain, with a view to raise the sunk galleons;
but Sir George declined merely because his store ships had left
hint, and lie feared that his squadron would be run out of pro-
visions; but this was another historical authority which went to
prove that the enterptise was deserving of attention. It then, a
century ago, when the spirit of enterprise was not so much alive as
at present, the attempt was considered worthy of being made, he
would ask, was it nut much more so now ? In fact, the common
expression of the fishermen at Vigo Bay was, that if half the
treasure tuned therein was recovered, Spam would be the richest
net on in the world; she need never borrow a single penny vain.
So strongly did lie (Cant. Dickson) feel on the solve,. diet he ,
even consulted Capt. Brown as to what sum he slit uld ere- fur
the purchase of the whole speculation, with a view o gettin ; it
into his sole possession. Captain Dickson concluded uy saying
that he had courted inquiry into Ins conduct, because the concert,
bad been unhandsomely and unjustly animadverted on, and lit
was now prepared to answer any questions that might be put to hint
on the subject. His friend Mr. Steel would explain the circum-
stances to which he had alluded in the early part of his address.
Mr. STEEL declared that he had no interest either in this or any
other Company, therefore he might be supposed to give an Milne.
tial opinion on the subject. The question now before the Meeting
was —. very di%rent fro what it bad been twelve months aqo it was
then as to the quantity of treasure—now it was as to the existence
of any at ad. If the Shareholders were deceived, the deceit:ion was
excusable, because they were led is the search by the very highest
historical authority. in consequence of Capt. Davis's histractiotis
he had made search in the British Museum, and he would now tell
the Meeting what had been the result of that search. Capt. Dick-
son had already said that Smullett's History of England spoke of
treasures sunk in the Bay of Vigo, and the particular place was
mentioned in that book. It was also stated that a part of these
treasures had been recovered, and yet this was the very book that
had been placed in the hands of the contracting parties. A letter
loud also been put into their possession, stating the utter inipossi-
bility of deterniining the mount of the treasure which would nlti.
mutely be recovered. Ile (Mr. Steel) knew quite well the differ-
ence between el:comical and oracular information' but still some
credit was due to the fonuer. He would now, for the iefonuation
of the Meeting, say what his researches had been. In the 1
library of the British Museum he had taken up a very old
book, and it was completely occidental, which treated or
touched rather on this very subject. This was an old Latin ora-
tion, entitled, " °ratio ad Regatiom Annam," which, after miring
a description of the engagement, goes on to say, " Emir! is difraelir
argentin linnian itrinarytic piillaci.:ne per undor." Now, (said
Mr. Steel) though I might perhaps rely on toy own scholarship for
the translation, I sent them (the Directors) the original Latin, with
this interpretation of it :—" And the cases having been broken,
plates of silver and coined money went seen glistening through the
waters." Thie wan, at all events, confirmatory of the opinions
which had been formed on the success of the project. A memorial
had been presented to the Soanieli sod Dutch inerchents, but it did
not bear upon the subject. It vaitad bo been ,however, that the pro.
meter and managers of this Company had ected on the very beat
authority, and that they had the strosaest grounds fur their proba-
ble success.
Mr. al oit on me, a Shareholder, soil that he was entirely of the 1
sante opation ; he had read two volumo, printed in ibe year 1733,
entitled "'fife Bata, s of the Duts:ll La.:Ai:lst all other Nations,"
which stated that 20 millions pieces of eh hit had been shipped For
conveyance to a Spanish port, lied that tney had been tuna in the
Mara Vigo, of which only six millions had been recovered, and
conveyed to this country.
A ntlAn EIIOL DER here objected to the names of the sneakers
being published. If lie bought a lottery ticket lie had a right to do
so, without telling the world of it. It tees just so in the present
instance ;he had bought a ticket in this speculation—if ic tamed
up a ntEZL, so much the better; if not, that was his own Lae. Ile
laid mire:lased on tiie faith of " Smollett's theory of England;"
he had seen the whole of the correspondence—he lull seen the log.
book—he had known the zeal, the exertion, the activity, and the
sincerity of the persons concerned in this speculetion ; he knew
that they expected it to have been a mine of wealth, and so xtrongle
were some of the managers impressed with the success of their
project that they offered 10,0001. for fifty shares.
.fling detalto:) couveisation het. arcso as to the propriety of

giving the names of the speakers, k ndthe Reporters were edit tt
a pledge not to give them. This pledge mut tor a time resist
until at length It was urged that the Reporters should be excluded
altogether. This, however, was over-ruled, end the Reporters
were pledged not to give the minas of those gentlemen witO souktit

secrecy.
This being granted by the gentlemen attenllng for the Prod.
A SHAREHOLDER wished to know how the lottery ticket—if it
was a lottery ticket—still how that lottery ticket had been worked.
It might probably have been a common saying in Gathe e. that it
this same treasure bad beeil got up, Spain would never have otter
si.in to borrow money. Hit he would new be glad to see What bad
been done in regard to the recovery of this treasure—that ii, if there
was any treasure at any time,
Captain Dicaaort said that his friend Captain Browa would
present some information on the subject, which would convince

;he Shareholders as to the truth of his statement.
Captain Baowx preseiced an abstract of his log-book, with
plan of Vigo Bay, in Which twelve se eels were discovered, agree•
ably to Sinolletes deem/pi:on. But, though they had been seen and
starched from aft to micro. no treasure had been found.
A SitattElint.nen—Have you searched from fore to aft
Captain Ilttowx—ila; it is not usual to do so. When treasure
is laid in a vessel, it always Is plat d aft ; dr, in other triads, it it
carried behind.

-----
oliA !LEH° LDER—What depth did you work your inquiries
Captain linoww-1 should suppose about ten fathoms'.
SHAREHOLDER—I thought. from Wane remarks that I have
read, that the human lungs could not act below forty feet of water.
Captain Dicicsox begged to correct that opinion. Sir E. Bank.
had stated that the dicing bell could be safely worked sixty feet
under water.

A SHABF.HOLDER wished to pot a few questions to Captain
Dickson. The first was, whether he had riot sold seventeen shares.
at 3001. each, in 31artrid, ter a certain consideration • and whether
the same mail that brougbt these shares to Londoe did not convey
the transfers of them in separate parcels. Ile (the Shareholder)
was of opieion that Captain Dickson had put a great deal el
money Into hie packet by the Company.
Capteiti Dtefisox declared that he had never sold islutre, except
those he had exchanged at Madrid, which he did for BORIC of the
Silver Mining Company, which were at I0(N. each, and for white%
he bargained in the meteor:ion of one to three; but on his return to
this country he !Captain Di. Leon) had taken up all the Shares
which he had parted with in Madrid under those circumstances;
and very much surprised he was at finding those very Shares he
had sold in the market. lie (Captain Mclean) had never sold
a single Share after he returned from Vigo, but, on the contrary, he
had endeaieured to get up all the Shares that be could purchase.
A tetlift a tio eneß—Witholle going into a minute disquisition
of the quettion, he would *horde- say, that the general feeling on
the subject was, that the means employed have been very in.
adequate tp the purpose. Money it seemed had been profusely
squandered, and to no purpose ; and the feeling of the ehareholders
was, tfiat the object to which their funds was to be applied had
either been grossly m:steken, or was not it all understood. But, lit
either case, the public was completely gulled. (Hear, hear.)
Captain Dies:tote explained. The Shares that the gentlemen
had alluded to, Ice (Captain D.) had exchanged for shares in the
Spanish Silver Mining Company, in the proper ion df 1001. to 3041/.
in value, oh receiving three shar.s of theirs in lieu of one of the Vigo
Bay. But, on returning to Lotidhe, he (Captain D.) was surprised
on finding those shares In the marker, which he toGk care imms.
dietely to have bought up. ltot one of those eheres had been so:1
after his return from Mautid,
A SHAREIiGLDER contended that Captain Dickson must have
knows that this share would have gone into the market after he bad
parted with it.
Captain DieCSOer held that he was not answerable for it after it
had left his cuitotly. The share was no larger his after he had
sold it.
Mr. Pound t. (the late candidate for Southwark) just then en.
teted the Mom, and contended that he had not exeived any satie.
factory information respecting the affairs of the Company.
Captain DICKSON said he wan sorry the gentleman had not come
soon enough to hear his explanation, but the notice had been fully
and early publi.lied.
, Mr. Poem Le—So am I; not fa my own sake, but for the sake
of i friend of mine whom I have induced to purchase a share i
, this Company, and that gentlemen has been prevented attending at
an earlier hour by office business.
Captain Diet:sox—l am awry you• friend and you were not
here to receive my explanation, winch it is troublesome to repeat.
Mr. CHAMBER..? (the Magistrate of Union 11411)-1 wish to ask
Cep:ain Dickson one question. Did he or del he not receive 301.11.
on account of a share in chit Company, which he parted with to a
person of the name of Lee ?
Captain Dicesote—No, I did not receive 3001.
Mr. CHAMBEIIS—Then I have no helitatton in Saying that this
has been a fraudulent transaction.
Mr. POLHILL—And I am particularly serty that I have induced
my frieut, Mr. Chambers, to buy a share in this Company; but 1
did so because I thought the individuals respectable, but it was
that very respectabiley which deceived me.
Mr. CHAMBEns (producing one of the Scrip receipts) asked Cap.
min Dick o i whether he had not sold it for 31)01. in the stock
Marker ?
Captain Die sox—No, I hive not sold it for 300/.
Mr. CHAMBERS—Then, I don't hesitate to say that this is a
fraudulent transaction, because I have purchased this sham upon,
the faith of such representation.
Captain 1 Icesoer—You were not here in time to hest my ex•
planation—it you were, you would not make such a remark.
Mr. CHAMBERS—YOU admit that you did not receive the
money specified, and I therefore do net hesitate to say, both as a
gentleman and a magistrete, that it appears to me to have been
nothing more or less than obtaining money under false and
fraudulent pretence., and I can tell you, Mr. Dickson, that you
rand in a very peril us situation.
Capt. Diciscier—Sir, I care not whether you are a Magistrate
or rot; I am a man of hi neur, and will suffer no man 16 bully
me, particularly in my own [mese.
Mr. CHAMBERS eail that he merely went on the law of the
.uteect, which, he t ought, would tear hint out.
Mr. POLHILL was determined to get back every penny of his
nunry, End he would try the question at law.
31r. Cueetnems thought it was quite tenable: and a Share,
holler having moved the apt-melte-teat of a Committee to inquire
i me the concerts. nine gentlemen were put into uounnation, and
t e Meeting brok

CITY OF LONDoN GENERAL PENSION
SOCIETY.

A General 3leet'ng of this laudable Institution, patronized 14
lie Royal Ilighnes. the Duke of Susszx, Prince Leopold, the
Ouches, of Kent. the Duchess of Wellington, &c. &c. &c. was
held yesterday at the City of London Tavern, Bishopigate.street,
for the purpose of appointing the Officers of the Society for the
ensuing year, and for taking into consideration the propriety ot
altering the 12th Article, viz.:—
" That no person can be admitted a candidate for the benefits of
this Society, unless he shall have been employed as mentioned in
the hest rule, viz. (as en artisan or mechanic) at least twenty years :
nor can any widow become a nand date without satisfactory proof
al her Inc. husband's eligibility, and likewise of her having beet
his lawful wife fur at least ten years; nor can a person be admitted
a candidate while in a workhouse, or residing mote than ten miles
from London, or if having been in the receipt of parochial aid
within twelve months prior to the period of recommendation."
J. D. HAYWARri, Esq. having been called to the Chair,
The Secretary, Mr. 1). RICHARDSON, announced that William
Williams, Esq., M.P. had resigned the office of Treasurer to the
Society, when
Sir PETER LAURIE Wag. unanimously called to fill the office.
which he condescended to accept.
The Directors and Auditor, with the Secretary and Collect's,.
having been appointed,
Mr. Imams. rose and stated, that he should have to trouble the
Meeting at some length relative to the altering of the 12th Article.
[A cenversation arose as to the propriety of going into the ques.
don on the present occasion, as many of the Subscribers ware not
aware of the real question:l
He c intended at come length for the abrogation of the words vela.
tire to the widows of artisans, and moved for the alteration of the
Article, concluding by stating the case of a poor old woman, who,
far twelve years, had earned hee.own livehhooti, but who was pro.
eluded the valualde benefits of the Charity by the clause in
question.
The motion having been seconded, another conversation arose at
to the making any order at present.
Mr. JONES said, he could not consent to alter the Article. The
Directors were incessantly at labour, from the very many attempts
at fraud made on the Society. For instance, how easy would it be
fur an old woman to marry a mechanic on the verge of the grave,
and thus claim on the Society, to the injury of more deserving and
ns.uloeffir,Corlili h.sgteomfbe.l:ldom
enrrec-tocre;:ap;tauhrreoa
ynTohhalepesiprsyat.thtpalliclartetwiosensnoctyiweleyrveewianpo:ir
moattoorw n:nxs:
cellent one, and every member ought to watch its interest ute,t
closely. If ch.. alteration was made, instead of thirty, they
have I,ofo claimants. He should certainly oppose it.
Mr. 1:1$KIP proposed that a Special Meeting should be tolled
for the purpose, and that the same should be advertised in tit,
Papers.
Mr. STET EWS seconded the motion. He was sure the coluniaa
of the newspapers would readily aid their exertions.
A considerable degtee of argument followed, and at length
motion was withdrawr.
Mr. ST mr mem said he should have to trouble the Court a
another mu:ion, namely, relative to the 6th Rule. lk suggested
that six Director should go mu every year.
A 31Laill nit sail the duty of the Diveeors was otle that no u.-0.
• but those who served the office could be aware of. For
they were frequently
Out four or five days. away from their
nese, in visiting the poor cr. atures at considerable distances.
A freah discussion followed, and at length it was agreed that ra
person should be put hr nosnication without his consent hay:.,hay:.,been first obtained for taking upon himself the vffiee 44 a Director,
flohda
and that the animation should take place from next y.
Thanks wee thenvoted io the respective OfEcers, the Chairman.
&c., and Cie Meeting bruke np.
At the ele:tiott to take place on Monday next there are 113.
women and 132 men applieunis. Of this number, 50 men will be
which will of course call
per week. The whole o
in 2;3 pennies have been
t. the cases arteiroef2as;7reosnrit nivainturree.criTvehelts.:.
roes.
aftet.,,lrlerenct.itilietht andtetvii•cre,,r,
urct het;ru.vetrgetec,n7ootsfui.ottind'oe.tfral;l:);lkii:lt;in:vu,tsth:.w.:
6t4
tult
4.

glad tjl t
edited,
;eluded
velure n 1
souktlt
eel.
I—if it
rotted.
that if
'e otter
tat bad
if there
would
ouvince
with
agree.
ten and • ;
treasure
• -
de, it if
ies ?
I have
water.
Banka
kty feet
Captato
shards.
whether
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thoider)
deal di
except
le of the
ir whit,*