The British Press; or, Morning Literary Advertiser.
London, England, 1824-11-15 00:00:00

THE BRITISH PRESS.

THR oRMONnE ESTATES.

The greasalaterest which has so long existed in termer to this
property increases eonaiderably on the near approach of the great
10.16 It will appear to every one who has duly considered the
subject, that the present interest of the funds, and the refits of
Nt, do not bear a put 'illative proportion it may be urged that
('siestas, or Reduced, at 100 (paying an interest of 3 per cent.) are
about equal to the ay( rage interest (by way of rent) denvable from
land : but this important distinction presents itself_ the funds have
gradually attained the price of 00, and they will in all probability
Vie at par lo fare (;bristinse. banal (until latelyf wan current in the
market at 30 years purchase, thus yielding an interest of 24 per
cent. on the present distressed rental; it is true, that at the Late
sales of these estates it advanced to 40, and in some cases 46 years
purchase on rack rents; but the point so material to be kept in
view is this—the present aseria/ value of land is not so high by
Raper cent. as it shintld be, and so it nest be, in less than twelve
rhumba, to bear a due relative proportion to stock investments; it
is reeitvering from the drealful shock it received, but its recovery
is • • slow as to be hardly perceptible. When, however. ale pre-
sent price of retry thing con:tided with agricultural produce is
compared with what It was three years since, it will be seen
that it huts nearly dumbly,' in retry leading point, while the tern of
land remain' precisely where it dud t the landowners, se presume,
feeling that a little becethittir dote should be given to the farmer,
whose coffers had heels nearly exhausted by the previous unnatural
depreninn of his produce. Neat year it will be seen that the farmer,
having recovered front the shock of 11120 and 1821, will be
required to pay a rent in proportion to the preseat value of its pro-
duce. If this IMMO, cannot be controverted, as we believe it
rant et, it is then ekar that property invested on a_ present rental,
at 40 years purchase, will, in the ensuing year, yield an interest of
4 per cent., and by such rise as is warranted by prevent prices.
Thieve is another point worthy of consideration : the value of the
funds is by no means so certain as that of land. An angry massage
from any one of the great Potentates of Europe would necessarily
I demo. the 3 per rent's. front their present price to 711 or 110, while
the value of lanai smart be increased almost in the same ratio, from
the Mereased deanand for agricultural produce, the effect of the war.
The present investor in land has the chance of both states of things ;
if the present flourishing condition of the country, brought snout
by peace, continues, head will gradually gain its true relative value
as towards other propene ; but if a war ensues, he has this ad-
vantage ...er the funtilmitier, that the amount of his capital can-
not be indelinitely imrreaserl, row its market price sudtleily de-
pressed, wilily the very cause which an operates on his rival, pro-
duces increased 11C11131111 for the article in which he may be said to
deal; it would, therefore, appear clear to demonstration. that to
incest in bind in preference to the funds, is in accordance with sound
sense arid good taste. Returning to the Orrnoode sales next week,
there is no precedent for at morn arid such valuable property being
brought to sale at one time, and the peculiar circtoostatters of this
ease requiring the sales to be peremptory, give them a feature no
less Los than beneficial to capitalists.

POLICE.

MANSION.IIOUSE.

On Saturday Captain Francis hinnies ‘'enerpte, of the Spanish
Constitutional army. who, with another military officer. fought in
all the great banks in the Spanish rampr.igns, under Lord Wel-
lington, applied at the 31UnItiOn !louse, after the !mimics' of the
.finitiee-room had been concluded, under the following cireum_
and his brother officer and friend, had been, on ac.
count of the successor the French arms, and the reinstatement tii
Ferdinand upon the theme of Spain, compelled to By to this coun-
try. Upon tbcirarrival they applied to the late Lord Mayor in a
most deplorable condition, revisiting his advice as to the course
they stimuli pursue for the purpose of obtaining a livelihood.
Ills Lordship gave them some money, and advised them to ap-
ply to the Spanish Committee, but they learned soon that
there were no funds. The report of their case appeared in the
public liapere. and General Melarrit, of the Spanish service, reeeived
• letter directed to Captain Venegas, in consequence of that report.
The (lateral immediately sent to the Captain, desiring that he
would call for the letter; but the unfortunate Venegas. tr, on wait-
ing tin the General, was told by him that the letter had either been
mislaid, or given In mistake to sonic other pervm. This wax
unlucky news for the Captain, who believed that the letter might
have rontaintel a communieutlon of some importance to him. lie
and hie friend were now actually almost upon the verge of destruc-
tion front the want of thud. lle would, he said, have waited upon
the Dube, under whom he had fought in an many battles, when
Captain of a brave troop of Spanish cavalry, but his Grace was not
in town.

Mr. If oink a, In the absence nf the Tined Mayor. told the Captain
that be knew of no fund to which application might be made with
erect. He was struck with the great Mercado') in the appearance
of the gallant soldier since his List •isit at the Mansuw•huuae.
Hanger had, indeed, made sad havock in but Mae and counter
mince.

Captain Venegas sighed deeply. and regretted that he had not
fallen in battle, rather than be subject to the contempt of those
around him.

Mr. Unet.ea avked him what had become of his friend? Ile
r•ph.d. that the other officer wai at borne endeavouring to mend
Iris .liora, which were all broken.

The Captain then entreated that if any letter should be written
to him, it might be directed to him at the publir-haute, in the
garrct of which he and his friend lives, No. 9, lticlunoad-street,
lAttester-square.