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ea he could undertake to prove, that not only not fifty, but thrt
even twenty-five persona, had not been original subscribers to this
plan, the profits would be doubled, and instead of 80,0001. they
would become possessed of profits to the enormous amount of
130,0601. Really this was very important, when they considered
the enormous amount of property which was embarked in specula-
tions of this kiad. One hundred and sixty millions of property
were embarked in such pursuits, and this consideration ought
to make the House plisse before it gave its sanction to them.
There was • recent decision in the Court of King's Bench on this
subject, to which he wished to direct the attention of the House.
It was in the case of Joseph v. Beret There the Lord Chief
i Justice Abbot gave his decision on the 6th of George 1. Bth chapter.
1 18th and 19th sections ; he said that there were two marks or elm-
' bole whereby Companies of this kind were made illegal ; first, by
dividing stock into transferable shares; and secondly, by the
assumption of the character of a corporate body. This decision
was applicable to a Company, the capital of which was two
millions; whereas the subscribed shares amounted only to 40,0001.
The Paco-Peruvian Company was liable to a similar objection ;
for although the capital announced to the public was a million, only
fifty thousand pounds of ostensible property was adduced to be made
responsible or accountable for it The opirion of the Chief Justice
was adverse to rash speculations of this kind, " which gave to some
borrowers profit, whilst others were at enormous proportionate loss.
This was not like fair commercial proceedings, where the buyer
and the teller obtained advantage, the one by the sale and the other
by the purchase." Ile hoped the House would not adopt a line of
conduct at variance with this decision, which was not less applica-
ble to the case before his Lordship than it was to the Pasco-Peru-
rian Company. The Pasco-Peruvian Company had published to
the world two prospectuses and a pamphlet : the prospectus states,
" that the Directors had contracted with the owners of the mines
of Pasco." Now who was the person with whom they had con-
tracted I—with a person who was not the owner of them—with
Quiroga, an expatriated patriot. At the time at which this prospec-
tus was issued Laserna was Viceroy of Peru, and the Government
with which It was presumed he was connected was not in existence.
Let the House attend to the manner and style in which this indi-
vidual was spoken of at the very moment he was exiled from the
country. " The gentleman at present acting under the powers and
instructions of the Government of Peru in its affairs in this coun-
try, and who is also • Director in this undertaking, knowing the
disposition of the Peruvian Government to promote an enterprise
of this nature, will use his influence to obtain its protection for
this Cotnpany, and a preference in such future interests as
the Company may be desirous to engage in." The Spanish
Consul was at this period ID possession of Peru ; and he could
not appear there. Ile is not even now there, but in Eng-
les*, or on the Continent. He would next call the attention of the
Boone to the exaggerated statements which were put forth respect.
ing these mines. It was represented to the shareholders that the
" common building stone of the WWII of Macumpa adjacent to
there contained a vein of silver ore !" (Hear, and laughter.) Again,
torrents of silver were pouttrayed before people, which had no
existence but in the representations made to them. The House
would thus perceive that these Directors had not effected or com-
pleted a col tract for a single mine ; and what, he would ask, would
the House think of a Company applyleg for the establishment of a
railway, and calling on Parliament for a Bill to sanction it before
they established the possibility of making it? The Directors
placed great reliance ow the relation of one of the Directors to the
Government of Pero, and the influence which he would conse-
quently have over that Government ; but It should be remembered
that at the time a Issuing the prospectus, Laserna, the Viceroy,
was in possession of Peru ; and, indeed, it was not until
the lest victory of Bolivar. that it was easy to determine whe-
ther thd Government should be regarded as that of the Royal-
ists. or that of the Patriots. But what he (Mr. Hobhouse) most
complained of wan, that a representation was held out to the
shareholders that they were only liable to the extent of the sum they
had subscribed. Now they who made that repreentition knew
that they were liable to the full extent of the shares, and even, if
necessary, to the full extent of their fortunes. Now what he com-
plained of was, that although in the prospectus the public were
told that they were only liable to the extere. of their shares, yet
there wits a clause in the Bill against any reetitution, so that each
member was rendered liable to the whole amount of his property.
(Hear, hear.) This was known to the Directors in the first in-
stance, and he only blamed them for introducing into the Bill that
which they did not apprise the public it was their intention to in-
troduce, and which was at variance with the statement they laid
before them. He had thualfar adverted to the first prospectus, which
was different from many passages in their second prospectus, and
also from the pamphlet, a trumpery production which they laid be-
fore the public as explanatory of these documents. The second
prospectus set out with this boastful announcement. " A contract
for additional mines in the district of Pasco having been entered into
since the publication of the prospectus, the Directors deem it ex-
pedient to submit to the shareholders the following general outline
of the new engagement. It comprises upwards of 360 mines, each
, mine occupying a surface of about 1.300 yards, together with seve-
ral large reservoirs of water, dwelling-houses, cottages for work-
men, rte. and some fields appropriated to the growth of barley."
Now, he begged to all the attention of the House to a book pub-
lished pursuant to the directions of the Viceroy of Lima. This
was a Report made In 1796 of the number of mines in Pasco and
Yeuriocha, a district more extensive even than Pasco. lie report-
ed that the number of mines at work then was 70, and that the
number of unworked mines was not more than 21, making in all
99. Yet did these Directors undertake to work 360 mines, a greater
number than, according to this Report, was in the whole district of
Pasco and Yauriocha. (Hear, hear.) The Easel Polit;qoe of
Humboldt had bean referred to; but on investigation it would be
found that it did not support the statements of the Directors. In
the Lima Gazette, to which reference had been made, it was stated
that the number of mines was 3,000 ; the number of inhabitants
did not exceed 5.000; so that this was giving about • mine
and a quarter to each person. (A laugh.) The correctness of
this statement was made out by several holes, similar to what were
called shafts in this country, being introduced into the mines, and
thereby these mines were multiplied. The Directors had also re-
lied on the fields of barley which grew upon the Pasco mountains ;
now these mountains were 13.000 feet *hove the level of the sea.
The greatest elevation at which barley or the growth of similar
grain was found was 10.000 feet above the level of the sea, and
that only in rare instances under the torrid zone. Capt. Cochrane I
had stated that in the district of Pasco, at an elevation 0f12,000 feet,
he only found a solitary shrub, which was useless and grew wild.
The Directors farther stated to the public that the owner was ready
to convey the mines to them in perpetuity, or on such ether terms as
the laws of Peru would sanction. Now who was this owner? Don
Juan Vivez • • and who was he? A runaway Royalist. First, they
put forward Quimga, an expatriated Patriot ; and secondly, Vivez,
a runaway Royalist; and on the security of these names, do they
solicit the public to become shareholders. (rivez' property had
been sequestrated; but it is said in the pamphl st, that the Directors
have been informed on the authority of San Martin, that no seques-
tration of mining property would take place; but San Martin him-
self was somewhat similarly situated to those other exiled persons,
and his information ought not to be implicidy relied on. It is title,
that these mines had not been recently worked from the agitated
state of affairs in Peru, but that was no reason why the seques-
tration should not be enforced. But he understood that they
would be soon claimed by the Government as a security for • loan
shortly about to be issued in this country. It had been further set
forth, that there was abundance of coal in the neighbourhood
to work these mines. Now this he denied, and he denied it
on the authority of Baron Humboldt, who said that it would
be necessary to use peat. If coal were to be used, a coal mine
should be opened, which would be a great augmentation of ex-
pense; and here he could not foebear from noticing the studious
silence which the pamphlet observed as to the expense of working
I those mines, which upon examination would be found to extin-
guish all hope or prospect of remuneration, in any degree propor-
tionate to the extent of the profit which had been held out and cal-
culated upon. Of die confidence to be placed in the representations
of Vivre., he begged to state the circumstance of his fleeing repre-
sented one mine to have yielded him a return of 100,000 dollars
per week. This was taken on the word of the seller, whose custom
usually is to overstate and exaggerate the value of that which he
is about to dispose of. On reference to the Gazette of Lima, it
appeared that this mine and three others, making altogether four
mince, did not yield him more than 50,000 dollars. Yet were
these four mines sold for 400,000 dollars, for which suin they
would not have ever sold, if they yielded the weekly return of
100,000, or even 50,000 dollars. Weer.) But admitting that
a good title had been made out to these mines—admitting that the
necessary expenditure would be borne out, and that due preparation
hail been made to defray it ; yet he feared that the plan would alto-
gether fail, and this he did because the experiment under
more favourable circumstances had been tried before, and had
failed. In the year 1312 this very Vivez had entered into a contract
in this country with persons who had funned themselves into what
was then denominated a Draining Company. The contract had
been formed for a term of years, and 11,000/. had been subscribed
for the purpose of providing those engines to carry into effect the
objects of the Company. It commenced under the most favourable
auspices ; many persons connected with the Government of Peru
were shareholder, and some were Directors of this Company.
There was then no dubious promise of support, for the plan had
been cordially entered into by the Governor of Terme and the Vice.
roy of Lima; yet die project failed. Torrents of silver were theta,
as now, eitomised to be poured upon the shareholders; it was held
out as a monument and • record of glee inus and profitable enter.
prise. In one sense it turned out to the purposes of a monument—
for all the pawns engaged in it, with the exception of • 31r. Jane.
thick, were now dead ; Arismendea was dead ; Vivez, who sold
the mines, was outlawed; and no ratification of the contract then
entered into had since taken place. Yet shares of this Company
which were sold at 90/. rose so high as 1.4001. and even 1,500!. and
shares which cost originally only 45s.reached so high • /nieces 1001.
Dubois and Company, who had been engaged in the ratification
of the contract on Weill of the people of this _country, had never had
that contract ratified. And here lie would observe, that if Vivre
had • right to dispose of this property, this pre-existing Company
to which he adverted would have a prior claim to any other that
might be found afterwards to have their just claims adjusted
Sod satisfied. It might be said that the former Company had
only contracted for a certain number of years—for nine but
this contract was to commence from the erection of steam.
engines. and according to this calculation the period had not
yet expired ; so that the claim of the former Company was still
valid. It was said that although Vises was not now In Peru,
lK that his property was protected by his son. Now, by the
aw of Spain, although the fattier might protect the son's property,
the son could not protect the property of the father, and young
VCVP; was not, as he was represented, a Spaniard, but a Peruvian.
Of tee difficulty of erecting one of those original, the House might
form some opinion from the fact, of 3,000 mules and 4,000 Indians
being employed to convey one of those steam engines, and establish
them On the spot on which they were to be worked ; and this, let it

be remembered, was at a time when there was not even a doubt of
the support of the Government of that counitry ; for they mere
deeply engaged in the project, and the force which was employed to
go with this steam engine was not the ordinary assistance to be
obtained at the usual rate of labour, but was a compulsory requi-
sitinn of service on the part of the Government of the country. '1 his
would impress' the House With an idea of the difficulties that pre-
tented themselves in earning tide Pasco-Peruvian ptoject into efl'ect
The slaves employed in draining the mines were only allowed a
little maize boiled is water. Mr. Elms said: the clitnate was most
uufavourable to Europeans, and that they become sickly and die
very soon. The distance is only SG lengues from Pasco to Callao,
but such is the climate and the state of the conutry, that this dis-
tance is scarcely made in testifier' twenty days. Persons are not
able to travel at a quicker rate than eight miles a day. But there
must be Indians to work the mines. and those Indians must be paid
each ma.: two dollars per diem ; so that it clearly appeared more
money would be required than wai anticipated, whilst no real gain
could ever be expected. He did not mean to say that the Spanish
Government had not derived a revenue from those mines—but how
did they derive it? by running no risks: they received one-fifth of
the produce, and did not care who was ruined in the speculation.
But the House should not view the matter in this light; it
should prevent individuals from -being ruined by delusive
schemes. He would take the liberty of concluding by stating,
that if the persons with whom this speculation originated would go
and do something, or if they waited for a year or two, and showed
they had done something, the House might then and under these
cited:nuances entertain the question beneficially. At present he,
thought the project had all the appearance of • dangerous de-
lusion. The prospectus was clearly delusive ; for it held out that
proprietors were only liable to the amount of their shares. As to
sending the Bill to • Committee, he did not see what could be
gained by it. What could be proved in a Committee, which
could not be heard in the House? In his opinion the House
ought to take its stand at once in the present stage; and he
should therefore propose as an amendment that the Bill should
be read that day six months.
The amendment was seconded by Colonel JOHNSON.
The SPEAKER having put the question on the amendment,
Mr. F. BUXTON rose. He ditty& that he was not person.
ally interested in the suhject outlet discussion, but lie was con-
nected with gentlemen who took an active share in the speculation.
He thought many of the lion. Member for Westminster's (Mr.
Hobliouse) observations did not apply, and in many more of his
observatiors be (Mr. Buxton) folly concurred. He concurred
with the lion. Member, when he reprobated the practice of holding
out prospects, which could never be realised, and readily admitted
that such practices hut in them the characteristics of something like
fraud. Ile desired to impress, however, on the House, that repre-
sentations made for the purpose of depressing the market may be
quite as injurious as those made tot the purpose of raising it.
lie knew that the Honourable Gentleman was quite ignorant
of it, that he was acting under the infiumce of misrepre-
sentations made to him by interested persons; but he (Mr. Buxton)
had no hesitation in declaring that he believed this to be a deep-
laid scheme, and he thought he should be able to prove this when
the Bill went into a Committee. A variety of libels had been cir-
culated respecting the speculation, and those concerned in it. It
was stated at one time that no such mines existed, but after a bide
reflection this misrepresentation ass overthrown. It was then
said that the mines were unproductive. Baron Humboldt was not
so bad an authority on this subject ; and he distinctly stated, that
although the mines of Pasco were worse worked than any otter
mines, they produced in one year two millions of dollars. He said
that within a certain number of years those mines had produced
forty millions of dollars ; and within a distinct petiod, from 1792 to
1801, a period less than seven years, they had produced twenty mil-
IMrs of dollars. The lion. 31ember for Southwark (Sir Robert
Wilson) recently recei red a letter from Ida son, who was in South
America, an extract from which he (Mr. Buxton) was permitted to
read to the House. Mr. Wilson states, that silver is in such quan-
tities in this country that the meanest utensils used by the peasants
are made of that metal I (Hear, hear, and a laugh.) Another
objection circulated was that the country has no population. Now
there happens to be in London at the present moment a gentleman
of acknowledged veracity, a Major in oar army, who was stationed
in that country, and confidently asserts that In one district he saw
five thousand people. But though it should be granted that the
mines were productive and the country sufficiently populous,'
it was objected that there were no coal mines near enough to
be available. lie (Mr. Buxton) understood that there was a
Spaniard now in this country, a man of respectability, who
could prove that there is a considerable coal mine within one league
of the mines. Well, there was another objection. It is said, that
no contract has been formed. As to this, he should only say,
that the Directors have stated that they have formed • contract
and when this subject was investigated he had no doubt it would
be found that there was a full and valid title. The lion. Gentle-
man complained that there was much deceit and delusion in the
'Prospectus, as it held out that proprietors were not liable. lie
(Mr. Buxton) only understood die prospectus to mean that con-
tracts were executed by the trustees in their own names, which
gave security to the proprietors that the amount to be applied
should not exceed the investment. The trustees made themselves
responsible, and this was a security that the advances would not
be squandered. Having replied to the objections of the Hon.
Gentleman, he now Caine to another part of the subject. The
name of a Mr. Dubois had been mentioned—his authority was
quoted, and it seemed that the House ought to rely much on
his assertioni. There were a few facts concerning Air. Dubois
which it might not be improper to state to the House. It seems
that Mr. Dubois was extreme!y anxious to become connected
with this Mining Company, which he now took so much pains to
abuse. Some of the Gentlemen with whom the speculation
originated, however, did not choose to associate with film Dubois,
and then came forth this tissue of statements, which be ( Mr.
Buxton) would call misrepresentations. Not long ago Mr. Du-
bois went to two of the principal Directors, saying, " (live me
twenty shares and I will tell the whole truth, and the market will
immediately rise." (A laugh.) The Dtrectors very properly re-
jected this proposition ; and no later than yesterday morning he
believed Mr. Dubois again offered to take only ten shares,
saying, that if these should be given to him, he would come for.
ward and explain the whole transaction, which he knew would en-
sure • rise of 20 per cent. on the shares. (Hear, hear.) These
facts he(Mr. Buxion)declared lie could prove in a Committee. lie
did not think It necessary to detain the House by following the
lion. Gentleman further. He had not, like that lion. Gentleman,
brought down • whole library to support his case ; but he woulu
say, that when the subject came to be discussed before a Com-
mittee, it' • fair case, should be made out against the Directors
he would be the last person to skreen them; on the contrary, he
would be roost anxious to expose them. On the other hand, if it
should turn out that the fraud and misrepresentation lay upon
these interested persona who had came forward to impose upon the
Hon. Member, he was sure the Hon. Gentleman, with his usual
consistency, would juin with him (Mr. Buxton) in reprobating con-
duct so base and unworthy.
Mr. H. GURNEY could not think that • controversy like this
was worthy of the interference of the House of Commons ; nor
could he see any reason why other Companies. standing upon
no better grounds, should be allowed the privilege of stung and
being sued in the name of their Secretary, whilst such a privilege
was withheld from the Mining Company.
Mr. T. WILSON did not conceive that the Honourable Mem-
ber for Westminster (Mr. Hobhouse) appeared to have the very
best information on this subject. In truth, he seemed to know
little about such transactions. Many of the facts which the
Honoutable Gentleman alluded to were greatly distorted. Ile had
heard one of the Directors say, that each Director was to retain one
hundred shares. Now, what did the Honourable Gentleman say
He said, look at the Directors, with what avidity they endeavour to
sell, and run no risk themselves. But they did run • risk, when
they retained so many shares ; and this of itself proved that they
considered the transaction as a lump( transaction, and that the
advantages held out were likely to be realised. If the Director,
keeping one hundred shares, was not impressed with the advan-
tages of the speculation, he was practising a greater delusion on
himself than upon others. The Honourable Gentleman said, Corn.
parries might be established without having found any mines, and
the Honourable Gentleman was right. Ile (Mr. Wilson) believed
that a Company was established in the city, and upon payment of a
small sum of money, five pounds from each shareholder, persons
were sent out to discover and purchase mines. Now there was
nothing very heinous In that speculation (hear, hear); it only
dilleml from this they were discussing, because the present Com-
parey bad actually contracted for mines which were known to be
productive. The badness of the climate was the only remark made
by the Hon. Member for IVeetminster which had any great weight
with him (Mr. Wilson). lie certainly feared that the climate
would be found very injurious to the constitutions of Europeans ;
but the House should not infer from this that the speculation was
delusive. Four or five scientific Europeans, and eight or ten
miners, would be sent out, but it was not intended that Europeans
should work the mince. There was no intention of sending out a
regiment of Europeans, as the lion. Member appeared to think.
On the whole, he considered the plan to be kg fairly undertaken as
any which had ever come under the consideration of the House.
lie knew many individuals connected with the Directors, who had
purchased shares to a greater amount than one hundred. These
persons had taken pains to acquire the best information before they
had risked their capital, and they were still ready to risk more
capital, In despite of the menaces of the Hon. Member for
Westminster.
Sir F. BURDETT thought die present system of bubble com-
panies highly objectionable. The present Bill was evidently
founded on a delusion ; for the prospectus of this Company held
out security which could not belong to it; and on this ground he
thought there was reason enough to induce the House not to go fur-
ther. A Noble Lord, holding the highest legal rank, had, in ano-
ther House, taken an opportunity early in the Session of reprobat-
ing those bubble companies, and had intimated that he intended to
apply his great talents and extensive knowledge to frame some
measure which might be successfully applied to the correction of
this serious evil.. He hoped the Noble lord would not lose sight
of this subject, and that the House would not be Induced to coun-
tenance a system se full of deceit and ruin. Of all the projects he
had heard of, in whatever light it should be regarded, he thought
' this Company deserved the chancier of a bubble and a delusion
more than any other. Those with whom it originated were perhaps
holiest dupes, but be feared their seheme was full of ruin.
Mr. LOCKHART thought the House should pause before it
consented to allow the Mining Company to sue and be sued, and
time invested them in some uteassee with a corporate character. lie
I thought the liouse should be more cautious before it invested any
, Company with this character. The public sub& under this prac-
tice, as it is considered as the sanction of the House of Commons.
whilst it is In fact only the sanction of particular members. These
Companies were, in fact, not only bubbles, but they were ruinous
bubbles ; they tended to the titter ruin of many individuals. Now,
t the House of Commons were in some degree to be blamed for this ;

_

when they unction those Companies who came forward uttering
their schemes with Members of Parliament at their head. It was
absurd to suppose that thou schemes could be realised. It was
said the country was rich, that the spade said the pick-ate of the
labourer wete made of silver, but he had always understood that
the wealth of a country did not so much es,.etid upon the richness
of its metallic produce as upon the honour and industry of its in-
habitants.

Mr. A. BARING was indifferent on this subject which engaged
the attention of the House, but bethought the recommendation of
the Hon. Gentleman would be most inconvenient. By stopping at
this one Bill, it would appear as if the House had really given
its sanction to those which had already passed. When the Hon.
Member confined himself to generalities, he (Mr. Bering) was dis-
posed to agree with hint. As to the ruinous effect of this species
of gambling, there could not be a second opinion t nothing could
be more deplorable. It seemed to have acquired the character of •
disease. There were gambling houses in the west end, kept by
permits with illustrious names; and persons at the east end, follow-
mg the example of their superiors, had converted the Royal Ex-
clange into a gambling house, differing front those in the west
only because the gamblers at the East kept better hours, and
better company. Ile fully agreed with the lion. Member for
Westminster in all his remarks upon this part of the subject. He
thought it impossible, however, advantageously to apply legislative
interference. Greater mischief might arise, and perhaps the
House would be involved in errors by the representations of in-
terested persona, as the Hon. Member appeared to be. He be-
lieved that many of the 'themes which had lardy sprung up
would prove delusive. Persons in this country seemed to think
that they might effect what others had failed in. He estimated as
highly as any one can do the intelligence and activity of England ;
but lie feared that persons in this country were too apt to underrate
the intelligence and activity of other countries. Austria was
one of the most heavy stupid Governments in Europe, and no
mines were ever better worked than the gold mines of Hnrgary.
Having said thus much it would not be candid if he did not state,
that in his opinion tone of the Companies which lately sprung up
had better prospects or a fairer show of reality than that under dis-
cussion. Other Companies have been established to go looking
for mines, but the present Company had mines, productive mines,
already purchased. Something had been said of the ill success of
the draining expedition ; but could not this be easily emanated for
because of the civil war which was then carried on ? Much had
been said about the growth of barley—few would go so far 1
starch for a country where barley might be found ; it was silver
that was desired and not barley ; and it could be no great cow-
ensnce whether the climate was favourable or unfavourable to the
growth of barley. Whatever may lie the merits of the general
question he thought it would be unjust and inexpedient to step
forward and refuse this Company what had been granted to many
others. It would give reason to suppose that the House was to be
influenced by false impreesions. He had hoped that the President
of the Board of Trade (Mr. Huskisson) would have considered
the charters or sanctions which had been given to so many Com-
panies, and would have recemniended sonic measure to correct the
evil. At all events he saw no reason why Parliament should niter.
fere to stop this Company. Why stop it, when a Milk Company
and a Company for making bricks are sanctioned. (A laugh.) Ile
saw an advertisement from a Company more curious than these in
a newspaper a few days ago. A person who became possessed of
eleven acres of chalk in the county of Kent raised a roinestock
company for working these eleven acres. and stated that the capital
required would amount to 120.000(. He thought it would be much
better if Companies were allowed to act in bodies upon sonie ge-
neral principle rather that they should come down and apply for
special Acts upon every occasion. When these Acts were granted
they had the appearance of a Parliamentary sanction : it was not
a Parliamentary sanction, but if the privilege should be refused in
this particular case, it would seem like a sanction of an those which
had hit'erto passed the Howie.
31r. CAI ~(RAFT would not have troubled the House but for the
singular doctrines which had fallen from the lion. Gentleman who
had just sat down. Notwithstanding the tinpromising appearance
of the House, which was now thinly attended, he could not terrain
from offering a few observations on what had fallen front the Hon.
Member. The Hon. Member's position appeared to be, that the
(louse has already combined to delude the public by giving its
sanction to many bubbles, therefore it should not hesitate to cob.
tinue and extend the system of delusion. Although the Ilan.
Member spoke in support of the Bill, what had fallen from hitn
was better calculated to damp the expectations of those who had
engaged in the speculation than any thing which he (Mr. Calcraft)
heard from any other quarter. The Hon. 31ember admitted he
thought the speculation would fail. Indeed this can scarcely be
doubted, when it is recollected that amongst those who were sent
out only one person, the head of the party, survived, and the sum
of 170,000 C was sunk in draining those mines. It was said this
Bill would not be considered as the unction of the Legislature,
but it was well known that a Bill was always considered'
as a unction ; that when a Bill passed theft was a bonus,
and the shares immediately rose in the market. No doubt
such would be the ease with the shares in this Company.—'
What those individuals want is, and what I complain of is, that
money should be made by a transfer of shares from hand to hand.
As an Instance ; when shares had not yet been issued, when
merely receipts were in circulation, they rose 18 per cent. This is
what the parliamentary miners want. He thought that if ever a
case had been clearly made out in support of an amendment, that
ease bad been made out by his Hon. Friend, whose stmements and
reasonings had incontrovertibly shown that Parliament ought rot
to lend its sanction to a measure likely to produce such extensive
loss and disappointment. For his part he had no previous opinions
on the subject—he came to that House perfectly unprejudiced; but
from attending to what bad fallen from Hon. Members he came to
this conclusion, that if the House lent itself to•such a scheme it
would be lending itself to forward a delusion fraught with very evil
consequences. The supporters of the Bill contended that nothing
more was sought for than giving the right to the Company to sue
and be sued; but he on the contrary maintained that it would
have a much more extensive effect, for it would give a currency to
the whole which it could not otherwise obtain, and which would
end in the ruin of the numerous individuals who have embarked
their capital in the speculation. Another reason for rejecting this
Bill is, that the House ought to be more sparing of enactments of
this nature, slice so many of its members are known to be engaged
in speculating Companies. By a paper which had recently come
under his observation, it appeared that no less than 28 Members of
that Howie were either Chairmen or Directors of similar Associa-
tions. What would the public say to this, but that Parliament
was so impregnated with the spirit of Joint Stock Companies, it the
more readily lent itself to the designs of interested individuals ? For
this reason, then, he thought that the present measure should be
checked in termini'. The /ion. Gentleman, the Member for Wey-
mouth (Mr. Buxton), had seemed to say that impressions had been
made upon the mind of his Hon. Friend (Mr. Hobhouse) by an
interested person (Mr. Dubois), but this was not the fact. The
Hon. Member for Taunton attributed to the constituents of the
Hon. Member for Westminster the impressions which appeared to
have been made on his mind regarding this subject; but so far
from this being considered any ground of reproach, it was quite
the opposite. Why should he not receive impressions from his
constituents ? and if he had that night saved one of them from
being duped and ruined, lie had deserved well of those whom he re.
presented. lie was sure the Ilon. Gentleman opposite would not
I be warped by any undue motives; but when Companies of this
nature were befei-e Parliament, with names of some commercial
weight, a City Member might feel it incumbent on him to say some-
thing. On a former occasion the Hon. Gentleman had deemed it
necessary to say something, that the argument should not be all on
one side; but the House would know what importance to attach to
observations tradd for no better reason than to prevent the argu.
ments being all on one side. He strongly recommended the House
to leave trade to its own natural course. Ile was persuaded that
Companies of this nature could add nothing to the honour or dig-
nity of the British character, or to the sealth or resources of the
empire; for he telt convinced of their delusive tendency.
Mr. ELLICE observed, that his name appeared in one of the
prospectuses, but that he diet not deem it expedient to engage in
the speculation, though he had been applied to by a gentleman,
Mr. Parish Robertson, for whom he had the highest respect, and
whose upright and excellent character made him universally
esteemed. But his reason for not embarking in the speculation
was, that he did not wish to take mines iu a country where no
established Government existed. ‘Vithout meaning to cast the
slightest imputation upon other* who bad given their names, he
thought there was enough in this to justify his declining to sanction
such a speculation. With regsid to the question then hefore the
House, he would suggest to his Hon. Friend to withdraw his op.
position in the present stage of the Bill, and let the advocates of
the Company defend it if they can in the Committee. Although it
might be difficult to invent machinery, such as would secure against
all possible responsibility beyond the amount subscribed, yet as in
similar cases, by means of trustee, who could rot involve the
Company beyond the funds in hand, he thought that sufficient gua-
rantee might be had. Ile begged pardon for troubling the House.
but the subject was of great importance. He never remembered
such a fever to prevail—such a rage for speculation, and he could
not help expressing his conviction that it would end in severe and
ruinous disappointment. A few might obtain great prizes, but
nothing sufficient to compensate for the losses which others were
likely to sustain.
Mr. ATT WOOD, in a very low tone of voice, surported the
Bill. Ile said, that from undertakings of that nature Members of
dm House were not to be excluded ; and that whether the Act now
sought for was granted or not, the Company would still goon. with
their shares as profitable and as easily transferred as before. None
but the most ignorant could suppose that the passing of the Act
could give any Parliamentary satietion to the Company; but
whether they refused to such a partnership the privilege of suing
and being sued it would still exist and advance, notwithstanding
that it might be plated without the pale of the law.
Mr. A. BARING explained.
Mr. ROBERTSON began by observing that it was a general
question. For the very reason that so much clamour had been
raised out of doors, they should now make a stand against Bills of
this nature. There were no less than one hundred and sixty
millions engaged in speculations, and he could not help thinking
that there was but little prospect of their being successful. No
man who considered the subject coulkl be of a different opinion.
It had been said that with our improved machinery the mines could
be worked to greater advantage than in the hands of their former
possessors. In the first place, with regard to steam eagines, it was the
greatest delusion to suppose that they could be succeedully used.
They cannot be used there—there is no fuel, no coal, no wood in
Mexico. The great fortunes which had been realised in these mining
speculations were referred to by the advocates of this Company ; but
it should be remembered that these fortunes were realised by hoes ,
who had no purchausmoney to pay for the ground, hence their
receipts were to them clear gain. But an English Company would
have to pay largely for the use of the ground ; for the Mexicans are
not so stupid at to part with any advantages they may happen to

pound without large remuneration. The observations regarding
the taltimbability of success he would not confine to this Com-
pany alone, they applied with equal force to all others. The ides
that the former possessors of these mines were unskilled in the
bosiness of working them was perfectly absurd ; they spared no
pains that could be required to insure success—they had
wools for the instruction of miners, and they had eminent
professors cancel from every country in Europe to give the aid of
their scientific attainments. We should not deceive ourselves into
the idea that mines already worked with such advantages. and like-
wise by Gentian miners, would now yield any adequate profit. The
Honourable Gentleman repeated that it was not to those mines
alone his observations had reference, but to all those to which the
present rage for speculation had attracted English capital. After
making some observations relative to a free trade, he next noticed
the practice, in getting op thesecompanies, of the manacers reserv-
ing a considerable portion of the shares to themselves, and all the
lose of the ill success falling on the British community. It was,
he said, a source of much regret to hint not to see on the Treasury
Bench a stegle Member of his Majesty's Government, when a sub-
ject so important to the vital interests of the country was under the
censideranon of Parliament. The community at large was much
indebted to the Lord Chancellor, the oily Member of the Cabinet
who seemed alive to the danger that prevailed.
Mr. Alderman BRIDGES, in reply to the last speaker, said
that there were roils enough in Real del Monte to work all the
steam-engines that would be required during the term of his natural
life. He declared that he had no interest in the subject under dis-
cussion ; but he felt it due to truth to state, that the Directors of
this Company were, as mercantile men and as private individuals,
worthy of every respect for their prudence and goad sense. He
observed in terms of praise upon the character of Mr. Robertson,
one of the Directors ; as also upon that of a Scotch Gentleman
whose name he did not state. Another of the Directors, he said,
was an officer who had served with Lord Cochrane, and who was well
acquainted with the country. The decided opinion of this gentleman
was, that if ore more than another was entitled to support, the work-
ing of the Pasco mines was that speculation. The only object the
Company sought in applying for an Act was to save the members
of their body from arbitrary arrest and other vexatious annoyances,
as well as to possess the power of suing their debtors. The value
of the shares of this Company would advance, or would be de.
pressed without feeling the influence of the decision which might
then be pronounced, and he could add that those who now held
the shares would not part with them for double what they paid.
He would further say, that mare honourable and upright men did
not exist than those who composed the Board of Directors.
Mr. HOIIIIOIISE then rose to say, that he would not divide
the House, but let the subject go before a Committee.
The Bill was then read a second time and committed.

Mr. I,A BTON presented a petition from the town of Cove, in
the county of Cork, in favour of the Catholic Association, and de-
claring that the Catholic Kent, so far from being felt as a grievance,
was a voluntary contribution.
Colonel BAGWELL presented a petition from the town of
Westport. in the county of Mayo, iii favour of Provincial Banks.
Mr. BiIIUHT obtained leave to bring in a Bill to revive and
make perpetual an Act (lately expired) for preventing vexatious
arrests.

Mr. H. T‘t ISS moved the second reading of the Bill respecting
1151,t115011l at elections.
After a few words from Lord PALMEIsTOX, Mr. 111110 HT.,
and Mr. Hvwe,
. _

Mr. 11. TwISS consented to postpone his motion for the second
reading of the BM till atter Easter.
Mu TINY BILL.

The Mutiny Bill wa. then read a third time and passed.
.MARINE MUTINY BILL.
The Marine Mutiny Bull was read a third time.
ANNUAL DUTIES.

The report of the A7ll;u4llhiiiesHili;Lbrought up, and
The House then adjourned at a Quaarca TO Nisi, till
Thursday (this day.)

PRICES OF BRITISH
3 per ( em. ('(me.
Ditto Acct. f
New 4 per tent. 114
lodia Bonds 86 pm
ladle for Atm.

PRICES OF FOREIGN
Austrian Bonds
Ditto Acct. voi
drattiliati Bonds
Ditto scrip (1825) S 2/ pm
Ditto Acct. 3 pm
Buenos A_yrrs Bonita a 41
Chillian Bonds 901
'olombian Bonds 921
Ditto Bonds (1824) 91, a 9911tj
Dom Acct. 91/ a SOI
Danish Bonds 1111
rrench Itrulte% 105 f. 50c. 75c.
Exchange 25f. 10c.
Greek Bonds Al 2
Ditto Acct. 52
Ditto Saip (1820 54 5 3144 dis

ITOCIES VESTERD.% Y.
Long. Ann.
Ex.Ri11..10.1.0001 63.65 63 pin
Pitts, 600/. 63 66 pm
Ditto, Small 64 6663 pak
Lottery Tickets, 1111. les.

trocK YESTER DA V.
Ditto Acct. 11 4 41 31 4 dis
31csican Bonds 81 8
8044
Ditto Acct. AI/ 8011
Ditto Scrip (1826) 3 pa
Ditto Aect. 3 21, 3int
Peruvian Booth. 871 1
Portuguese ilf-o,ds 90
Ditto Acct. 901 /
Prussian Donuts (1822) 1001
Russian Bonds (1822) 9/j 3
Ditto Acct. 931 j
, Spanish Cons. 241 1 3 111
Ditto Acct. 25 6 1
Ditto Cons. (1823) 294
Ditto Acct. 241

PRICES OF SHARES YESTERDAY.
MINES.

!bare. Paid. Premium Pee :bare.
Anglo-Mexican. 100 14 WS 971
Anglo-Chilian 100 6 7a 7` 8 7
Brazilian 100 5 104 101 10
Chilian 100 5 13 14
Colombian 100 6 30 31 301 31i
Chilian and Peruvian Company 8 41 6 4
General Mining Association 11l 6 101 11 101
Ilibernian 6O 4 5 /14 64 6
Pasco Peruvian 100 5 211 24 211 22 23 223/4
Royal Irish ....
Rio de la Plata .—.—..—..........100 6 /GI 2571
Thdpuitahua ........ 400 20 160 1
United Mexican 4O 20
Ditto New 4O 5 314 32 30
Welch Iron and Coal 25 6 3f 431 f If i
ASISUIANCIt COMPANIES..
Allianie Brit. and For. ...E WI le 91 81 Ii 84
Ditto Marine lee 5 11
GAs LIGHT AND COEN COMPANIES.
Provincial Portable. 100 1 11
United General

IRON litAl L WATS.
London and Birmingham 5O 1 'dig
London and Bristol
—.--.20
.___l Am
London aid Northern. ----- 100.. 1 Pm

MISCELLASIOI'II.
Atlantic and Pacific 106 10 4 4 14 1
26
Australian
British Iron Company lOO b 61 454 6 4!
Bristol Ship Canal 1 4 4
Canada Company 100 10 30 31
Canal Gas Engine 5O 1 1414 1 14 1
Colombian Agricul. Company 100 6 16 154
Equitable Loan Bank 5O 1 41 14
General Steam Navigation 100 6 44 k i
Great Westminster Dairy 23 2 1 die liar 4 die par
B ibemian Juint Stock Company 3 4 3434 4
Mexican Company 100 10 6 7 7
Metropolitan Fish Company 26 1 1 444 1 4
Pearl Fishery (Yellow) ..
Provincial Bank of Ireland 100 6 74j141114
Patent Bricks 3O 2 34 4 4
Patent Steam Carriage 24 14 214
Royal Stannary 6 par 4 di.
.par
Sea and Inland Coal 6O 2 4i 4 I dui par

THEATRE ROYAL, ENGLISH OPERA HOUSE,
STRAND.
KR. 'MATHEWS AT HOME.
This Evening, THURSDAY, March 17, and on Mondays. Thursdays.
and Saturdays,
MR. MATHEWS' MEMORANDUK•BOO[
of Psouliarities, Characters, and Manners, sullseted during his various
Tripe.
Soww—•• Memoranda In Confusion"—" Night Coach'—" Bubbles,
a caplial *or g—.• Sailing Match'—•• Old and New Timss•—•• Public
°fate, Rowstreet.
?Aar II I.—A Monopoly Logue, to be called
THE CROWN INN niorotit.
Doors open at Seven: the Performance to commence at Ellett. Mese
to be taken of Kr. Stevenson, ►t the Bor.olace, Strand Entrance• from
Ten till Five.
CavrioN.—The new Entertainment will nut be printed; and ali
Books prnfessing to contain any parts of it acs gross impositions and
?muds on the Puolis.

ADELPHI 711EA7 RE,
STRAND.

This Evening. TllURSD—A\r,iliich 17. will be presented
LOVE IN ♦ MIST.
Principal Dancers—Messrs. Jones, Kirby, Wa'bourn, and Mesdames
beanie and Gay.
After which, the Burlesque Melo-dranta of
TEREEA TOMKINS; Or, THE FRCITS OF GENEVA.
Causewln, Mr. J. Reeve: Fountain. Mr. %Manson; Charley, Mr.
Brown; fhlekheed. Mr. Salter; Lovewine, Mr. Meredith.
alias Teresa Tomkins. Mrs. Baker.
In the course of the Evening a variety of Singing and Dancing.
• • • - -

To conclude with the Burlesque of
NORF. BLUNDF.RS THEY ONE
OR. THE IRISH VALET.
Larry Hooligan. Mr. Power; Louisa Lovetuore, M.ss L Boote.

THE APOLIMNICON.
UIIDBIII Tilt 11111/eDIATZ PATIION•011 OT Its 1400118/11.

On SATURDAY NEXT. at Two Vance,
Tee following SELECTION of MUSIC will be pert rmed by Mr.
PURKIS Oil the APOLLONICON, a Grand litudeal lnetrureent,
invented and constructed by Merin. Flight and Robeeu. organ
Bonder', 101, St. Martin's-bum:—
PART I.

Overture, La Gaza& Odra (nosainly—cavatlem. • DI Placer IneeeData
vtrike the Harp In pruner of liragels' IStevenei—Alr, • Mp
Heart and Lute' iMuorlel—Huntlng Chores, Der Freleehutz 'Der).
- • •

PART 11.

Overture. Der Frelsehuts ' Tho' clouds by tempests
may be drlete Weberl—Glee. • Chough and Crow illlshopl- Song.
11 here the bee rucks' lArne)—tiong. Come If you date' 'Purcell1.
_ _ . _ • - -

N.B. Mr. Putkiss Performances will be continued *very Saturday
during the 'eason.
The Meehanteal Powers at the Apolionfeun are exhibited Da,ly,
from One till Four (except during the time of Mr. Purkies attendan.ey,
performing heel hoven's celebrated Overture to Prometheus, Menton
Overture to Zauherdote, and ilaydn's Grand Military Movement
from his Twelfth symphony, In the execution of which it has been
honoured with the 'auction of the most eminent mechanical and
musical men of the age, and to allowed to possess a grandeur and
mut, of effect, with a precision and a delicacy of exprolielon. rye.
Tier to any other Instrument In Europe.
The tousle arranged for and set red the Cylinders by Yr. Flight, Jim.

.airt

1..


the srittoit vrefso.

THEATRE ROYAL, DRURY-LANE.
Tab Beenlag, THURSDAY. March 17, will be performed
HASLIET.
Hamlet. Mr. Kean. Oahella Hirst time), Mtge Gsaddon.
Atter winch,
tiAltt.tqulN AND THY. TAI LINO Olen,
THic SINGING TREES, AND GOLDEN KA rgas.
Hatltodu. Mr. Howellirby I Pantaloon, 11141 es Barnett.lr. T. Blanchard; Clown, Mr.
K. Cultunlehte.
_ _

THEATRE ROYAL. COVENT-GARDEN.
TYN Evening. THUIitcDAV, March IT. will be performed
A ROLAND FOR AN OLIVER.
Mt ?lark Cha
Mr, se
RMr.
ner Fawcett: Alfred Rightber Mr. Jones: Fixture
. ay. Maria Darlington, Mlss F,xne.
After which,
CLAW:
Or, THE MAID eI MII.AN.
The Doke Vivaldi. Mr. T. P. Cooke: itolsmo. Mr. rawecte. Chart
MIR M. Tree; Yoovins. Was Love.
To conclude with
Al. ADDIN; Or, THE WoNDERFUI, LAMP.
Aladdin, Mrs. IMAM': ALansear, Mr. Farley.

The Mitsui' rime commenced publishing yesterday morning
at five o'clock.
LONDON, THURSDAY. M.ticx 17, 1825.

The Paris Papers of Monday are not more interesting
than their predecessors for several days. They contain '
much speculation as to the visit of M. DE METTERNICH.
It is generally believed that the object of the Austrian
Statesman is to engage the French Court to make common
cause with his own respecting the affairs of Greece. The
Turkish Empire is sinking daily into greater feebleness ;
all the operations of the Government are paralysed by its
penury. The preparations for fitting out its naval force are
suspended, and the most severe orders have been sent into
the provinces to levy exorbitant contributions for the use of
the State.
'The deliverance of South America continues in a great
treasure to engross the attention of the French politicians.
A just and well-written panegyric on Boi.IVAR appears in
the Constitationne/. The news from Spain represents that
kingdom to be in as distracted and wretched a condition
as ever.
It is thought that the debate on the Law of the Rentes
will commence on Thursday ; between this time and that
day the Deputies will meet in the Bureaux to nominate
the Committees on the Budget and the Law of Accounts.
'From the Etaik, dated Tuesday.]
PARIS, 3loacit 14.
Prince sletternich arrived at Paris yesterday evening.
The journey of the Emperor of Austria to Milan is now beyond
all doubt. We see in the journal of the Two Sicilies that King
tancis I. has received an invitation for his Imperial Majesty to
meet him at Milan, for the purpose of conferring with him. His
Majesty has accepted with great pleasure this invitation.
The Luau:wit Gazette announces, that the Duke of Covello, who
is at Lucerne, has been informed Met the new Government is re-
solved to apply to Switzerland for a corps of troops, and that the
zegeciations on the subject would be confided to him.
We read to-day io a journal, that it was reported at Bayonne
on the 7th, that the French garrison or Corunna had orders to eva-
cuate that place.
The garrison of Corunna made part of the troops left in Spain
beyond the number fixed by the convention at thz desire of the King
of Spain. They will return to France on Ist of April, as we have
already said, as well as the garrisons of Santana and Sarragossa.
FRENCH Fuxo3.—Peats. 31aacn 14.—Five per Cents. J. du
12 31ars, 1825, opened at 1034 40c. ; closed at 1018. 3k. Bank
Stock, 2,045 f. Rente d'Espagne, 204 f. Rente de Haples, Cer-
tif. Falconnet, 91f. 20c. Royal Spanish Loan, 1823, 59i. Ex-
change on London—one month, 25f.; throe ditto, 24f. 85c.—Cerro
dettteatique, Mareh 14.


On the second reading of the Pasco-Peruvian Mining
Company Bill last night there was some discussion, which,
in these days of speculation, is not wholly unworthy of
notice. Mr. Iloamocse endeavoured to redeem his pledge
by bringing forward the matter of accusation he possessed
against this project. Much that he said was equally appli-
cable to all other similar undertakings. The chief objection
was against the title on which the Company found their
property in the mines. This is a question of fact on which
at present the public are not competent to S'ecide. That
the mines are likely to yield a great revenue was amply
proved by the authorities quoted by Mr. F. BCXTON, who
declared that he was not personally interested in the dis-
cussion ; and there was one remark made by that gentle-
man to which individuals would do well to attend, viz.,
that " representations made for the purpose of depressing
the market may be quite as injurious as those made for the
purpose of raising it." Disappointed parties not unfre-
quently take their revenge by decrying the undertakings
in which they are not suffered to participate. There can
be no doubt that many of the projects now in the
market are calculated, not only to yield much individual
advantage, but greatly to forward the public benefit. It
behoves every person, before he enters into any scheme,
to weigh well the consequences of failure and the proba-
bilities of success. Many, who should not adventure, are
no doubt tempted to embark their small capitals in the
alluring speculations that are opened before them; but
whatever individual inconvenience or loss may result from
this imprudence on their part, surely it would be the very
reverse of wisdom to interdict others competent to endure
the risk, from those bold attempts which almost invariably
end in promoting the public interests, by extending the
range of public enterprise, and multiplying the sources of
public wealth.

develop—of illustrating their influence on education,
and of pointing out the very important results to which
they lead.

CITY, WEDNESIIAY Ertarso.
There was scarcely anything doing in the English Mo-
ney Market this morning. Consols for Money were at
931/. am! for the Account at 934 i.
The Foreign Market was a degree lighter than it has
been for some days. Old Spanish Bonds were done as high
as 231, and the New at 24 This rise is attributed to the
near approach of another Spanish Loan on the terms that
the English capitalists have proposed, and which we some
time since announced as being in progress. South Ameri-
can Securities were heavier than any other. Colombian
Bonds, 9041 ; Mexican Scrip, 1823, A 3 ; and Brazilian
Scrip of the same period at a similar price.
The old Greek Bonds were done at 514 32; and the
law Greek Scrip was evidently better. It was latterly
done at 44 4, and there were many buyers at the latter
price. The parties hostile to the Loan were very little in
the market, and brokers were doing a great deal of business
in the Scrip.
The Shares for the most part were steady :—Paseos
fluctuated between 2' and 24, and a good many purchases
made at 23. The new Mexican Company's Shares were at
Bto 7 ; and the Colombian Agricultural Shares from 14}
to 15}. There was nothing doing in Railroads.
In the Colonial Market there were no actual purchases
of Sugars made ; but there seemed to be a greater dis-
position to buy them than has appeared for several days
past. Although no real sales were effected, yet we should
be inclined to say that the prices will rather advance than
otherwise. There were some forced sales of Ci free at con-
siderably lower prices. There was nothing doing in Spices.
We understand that it is in contemplation to equalise
the duties on Isle of France and West India Sugars. A
deputation of merchants and others interested in the trade
of the Isle of France waited upon Lord Liverpool yester-
day upon the subject. They were favorably received ; but
we believe no definitive answer was given to them by the
Noble Earl.

WINDSOI, TUILSDAY MARCII 13.—His Majesty has
not as yet left the Royal Lodge, either for the purpose
of attending Divine Service, or taking his accustomed
airings.
The Princess Sophia visited the Duke of York yester-
day. The Royal Duke is sitting to Behnes for his bust.
Lord Mount Charles having taken his seat in Parlia-
ment, no longer acts as Under Secretary of State for
Foreign Affairs.
Sir Charles Stuart, Ambassador to the Court of Brazil,
set sail for Lisbon on Tuesday morning, from which city
it is understood Sir Charles will proceed as Ambassador
Extraordinary to the Emperor of Brazil. Sir Charles was
formerly our Ambassador to the Court of Portugal during
the apace of five years.
We learn by the Mexican, Capt. Atkins. which arrived
on Sunday from Havannah, whence she sailed on the 47th
January, that the expedition which had recently arrived
there from Spain, consisting of one frigate, three corvettes,
one brig of war, and between twenty and thirty trans-
ports, with troops, had sailed a few days previously fur St.
Juan de Callao, for the purpc .e of reinforcing the garrison
there.—Liverpool Advertiser of Ti, esda
A letter from Lima, after giving an account of the late
victory of Bolivar's army, says—" This at once terminates
Peru's struggle for its independence, as the whole Spanish
force was united, and is exterminated. Though Botta
may not comply in delivering up the Castles, they cannot
hold out long, since they are already blockaded by land by
Bolivar and his troops. Bolivar has been here for three
weeks; the Castles will also soon be blockaded by sea, by the
reunion of the Chili and Peruvian squadron. The Spanish
64 gun ship Asia is making eight inches water an hour,
owing to the bad weather she encountered in beating up to
Quilca. The enthusiasm shown on this occasion has been
without comparison beyond any thing I have previously
witnessed in this hemisphere. I trust we shall in a few
months have peace established on a permanent footing.
Bolivar is a prudent, cautious, firm man ; and I hope he
may condescend to remain here for one year to consolidate
all matters, and then we may hope to have a good Govern-
ment."

Dr. SMIZHEIM, as will be seen in another part of our
paper, has commenced his Course of Lectures on PH at NO..
LOGY. The great progress which this science has recently
made, both here and on the Continent, and its astonishing
operation as applied to the intellectual education of all
classes, and to the moral culture of the faculties of the
human mind, induce us to direct the public attention to
the subject of these Lectures, se connected with the most
interesting inquiries that can possibly occupy their investi-
gation. That education does not produce any faculties, is
a truth so strongly confirmed by experience as hardly to
be denied. Our endowments, whether of the body or the
mind, make a part of the original conformation of our na-
ture ; it is our task to restrain those affections and passions
Which, under proper regulations, are essential to the enjoy-
ment of life, and to cultivate and bring to perfection those
higher faculties and feelings which constitute its highest
dignity and its chief value.
Mr. Coomse, of Edinburgh, has truly remarked, in his
excellent " Essays on Phrenology," that the system of Drs.
GALL and SPIJKZIIIIm was at first generally conceived to
be merely an empirical theory, the utmost utility of which
was to enable us to gratify an idle curiosity by guessing
at the propensities of others. This opinion has been since
superseded by a very different conviction. It is now ad-
mitted, that, to use the language of this writer, " It is a
system of the philosophy of Man, embracing the considera-
tion of Isis moral and intellectual faculties, and the appa-
rent connection of those faculties with his organic consti-
tution."

At a Meeting of the Committee of Lloyd's held yester-
day, it was resolved that it be proposed to the subscribers
at a General Meeting on Wednesday next, to vote 100!. to
Mr. Cook, Master of the Cambria ; and the like sum to '
be divided among the crew and others who were on board
that vessel, for their humane and praiseworthy exertions
in saving .547 persons out of the Kent East Intliaman,
which they fell in with on lire on the Ist instant; also,
20!. to Mr. Bibby, Master of the Caroline, and his crew,
for picking up fourteen soldiers whom they discovered on
part of the wreck of the Kent the day after she blew up.
It is needless to add that the proposal will be carried
unanimously.
Feet TRADE.—The question respecting the policy of a
free trade is now in a course of animated but temperate
discussion in almost all the manufacturing districts; and,
as far as we have been able to collect the general opinion
on the subject, we have no hesitation in stating, that it is
strongly in favour of an unshackled commerce, provided
this freedom be extended to the trade in agricultural
produce, without which, indeed, it would be mere mockery
to speak of a free trade; and, judging from the public
meetings which have already taken place for the considera-
tion of this interesting question, we think it is highly pro-'
bable that in the course of the present Session petitions
will be presented from all the great commercial and manu-
facturing towns in the kingdom, for a revision of the laws
respecting the importation of grain, which must bo at the
foundation of any comprehensive or consistent system of
free trade.—Lirerpool Advertiser.
Statement of British and Foreign Tonnage cleared out-
wards from the ports of Great Britain and Ireland, for the
year ending sth January, 1825:

GREAT BRITAIN. - IRELAND.
British Tonnage . 2,492,402 I British Tonnage - 70,317
Foreign ditto . 690,374 Foreign . 46,356
WINES AND SPIRITS.—The total number of casks of
wine bonded in the London Docks during the years 1823
and 1821, was 100,141 ; the number remaining in bond
on the .sth of January last was 45,080. The number of
casks of spirits bonded during that time was 32,499 ; and
the number in bond on the sth of January 13,598.
TOIACCO.—It appears by the official returns which have
just been printed that the quantity of tobacco and snuff i■
England, Scotland, and Ireland, on the 10th of October
last, was :—linmanufactured tobacco, 1,031,7451b5. ; Ina-
nafactured tobacco 1,016,2981b5. ; snuff' 545,4661b5. The
quantity upon which duty was paid from the 6th of Jan.
1894, to the sth Jan. 1825, was 16,931,6721b5.
The general importation into St. Petcrsburgh in thy
course of last year amounted to 120,446,175 rubles ; and
the exportation to 97,066,608 rubles. Among the 116
wholesale houses mentioned in the commercial list, that
of Clemers and Berg imported to the greatest amount,
namely, 16,681,075 rubles; and that of Thornton, Cayley,
and Co. exported to the greatest amount, via. 8,900,850
rubles.

MECHANICS INSTITUTION.—A very numerous and
highly-respectable Meeting took place on last Tuesday
evening, at the Gibraltar Chapel, Bethnal-green, to hear
the second introductory lecture, to be given gratuitously
by Mr. l'artington, preparatory to the formation of a new
branch of the Mechanics' Institution in that neighbour-
hood. The lecture was on the chemical properties of
atmospheric air, and wan delivered in clear and plain
language, free from technical expressions, and illustrated
with a number of pleasing experiments, with which his
audience appeared highly delighted. The Meeting, which
consisted of about 800 persons, was highly respectable,
and the best possible order was observed throughout.
CLERGY or FRANCE.—The Report of the state of the
French Clergy, of Ist Jan. 1825, gives the following enu-
meration :—Archbishops and bishops 73, vicars-general
287, titular prebendaries 725. honorary prebendaries 1,113,
curates 2,828, vicegerents 22,225, vicars 5,396, priests re-
sident in parishes or authorised to preach and confess 1,850,
priests being masters and professors in seminaries 876,
pupils 4,044, monk: and others 19,271.
CATHOLIC CLEan v.—The Carlow Morning Post says,
" We believe we anticipate every Irish Journal in the
following authentic intelligence. The Archbishops ate
to have an annuity from the Government of 1,5101. ;
the Bishops 1,0001.; and the Pariah Prints 300!. each."

Both our tune and space forbid us from entering at pre-
sent on this subject beyond what may be found in our
remarks on Dr. Sruazircisea first lecture; but we shall
itke au opportunity occasionally, as his lectures pro-
ceed, a discussing the principles they art intended to