The Sun.
London, England, 1830-04-02 00:00:00

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*14344
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LONDON,
FRIDAY EVENING, APRIL 2, 1830.

The French Papers of Wednesday, and the
Evening Papers dated Thursday, have been re-
ceived by Express. Their contents contain
nothing positive with respect to VILLELE's
joining the Ministry of POLIGNAC ; but the
Times says on this subject, that " a private
letter brought us by this Express, and on which
we can rely, states positively that there is not
a word of truth in the accounts published in the
Liberal journals respecting M. DE VILLELE.
No negotiations have taken place between
M. DE VILLELE and M. DE POLIGNAC. No
one has been authorized on either side to make
overtures to the other. M. DE VILLELE is a
cool calculator, and is well aware of the great
difficulty of the present crisis. He observed the
other day to a friend, that the circumstances of
the country did not render his entrance into the
Ministry advisable. He would like to see a few
more of his old rivals humiliated, like poor LA
BOURDONNAYE. The two divisions of Royal-
ists are indeed irreconcileable."
M. DE VILLELE leaves Paris, it is supposed,
on Monday week.

(Extracts from the Papers.)
" Rumours of a change in the Ministry continue to
prevail. M. de Peyronnet is mentioned for the Interior;
M. Ferdinand de Berthier for the Mirine; M. Dudon for
the Finance Department ; and M. Guernon Ranville, for
Keeper of the Seals ; the latter to be succeeded as Minister
of Public Instruction by M. Berrier.—Journal du Com-
merce.

" The Prince de Polignac left Paris yesterday, at two
o'clock, for his seat at Millemont, from whence he is ex-
pected at Paris this morning, to attend a Council of Mi-
nisters.

" The departure of the Count de Villele for Toulouse
is said to be definitively fixed for Friday next. —Le
Temps.
"The Courier de Smyrne contains the following
article :—" Letters of a recent date from Syra state that
England has ceded to Greece four of the lonian Islands,
so as only to keep Corfu, Zante, and Cephalonia. We
know not what reliance is to be placed on this intelli-
gence, but it does not appear improbable, if it be con-
sidered that the possessions in question, which would add
to the territory of Greece, are of little importance to
England, and, in fact, are a heavy expense to her."
" The National says—' We are of opinion that
England will be disposed to throw every kind of ob-
stacle in the way of our expedition, in order to thwart
its aim if there should be any intention of forming a
colony on the African coast. It is even reported that
Lord Stuart de Rothsay has expressed himself clearly on
this subject.'
" In lieu of the budget usually presented to the Cham-
bers, a report to the King on the administration of the
finances for the year 1830 has just been addressed to the
Peers and Deputies. This report, which embraces all the
parts of the most important branch of the public service,
contains a summary statement of the measures that for a
number of years have gradually improved the system of
the Central Administration of the Finances,
by procuring
important savings. The recapitulation which closes the
report computes at 20,760,000 francs the savings hitherto
made, owing to the gradual developement of parliamen-
tary inquiries and discussions.— Courier Francais.
" It is reported,' says the Temps, that soon after
his accession to the throne of Greece, Prince Leopold will
marry the only daughter of the late Duke of Piacenza,
who is heiress to a fortune of 30,000,000 francs, and
whose beauty is only equalled by her mental accomplish-
mentor. She is at present at Egina with her mother."
FaaNcl FUNDS.—PARIS, MARCH 31..—Five per Cents., 106 f.
40e.35c. 10c.45e.; Four per Cents.,lolf.:lsc.; Three per C?nts.,
83f. 75e. 80c.7be. 70e. 73e. ; Bank Stock, 1,915 f. ; Rentesde Naples,
OA 90c. 95c. ; Rentes d'Espagne, 13 12% ; Royal Spanish Loan,
90'41. 90f. % ; itentes Perpetuelled'Espagne, 78XE Si
17; Haytian Loan, 550 f. 547 f. 60e. MoE—Exchange on London
—One month, paper, 2.5 f. 65e. ; three months, paper. 25f. bUc.—
Caurs Amthentique.

German Papers have been received this morn-
ing to the 28th March. Their contents relate
chiefly to the recovery of Colonel HEIDEGGER
—the death of the Prussian Ambassador Extra-
ordinary at Hamburg—the elevatio❑ of an
English Bishop, THOMAS WELD, Bishop of
Ainyclea, in Upper Canada, to the dignity of
Cardinal, chiefly for his protection of the Jesuits
—and the dismissal of the REIS EFFENDI, be-
cause he did not conquer the Russians, with the
continuance of the plague at Adrianople.

VIENNA, Mai cit 22.---Metalliques, 1031; Four per
Cent. do., 98i ; Bank Stock, 1343 ; in the evening, 1350.

We understand that a clerk, only 18 years of
age, in a German house in Broad-street, has
absconded with money of his employers to the
amount it is said of 5,000/., and it is supposed
has escaped in the Cambria, which sailed from
Portsmouth yesterday morning at nine o'clock,
for New York. He has taken with him a. female,
a child, and a livery servant, the latter
having been stationed at Portsmouth up-
wards of a week to make the necessary ar-
rangement for the flight. Mr. GATES, the
solicitor, has gone in pursuit of him, but with
slight hope of success.

The Returns to be ordered by Government,
at the instance of the Marquis of LANSDOWNE,
of the quantities of gold and silver that shall
hereafter be exported from the South American
States, will be highly useful, provided they can
be ascertained with any degree of accuracy. There
will probably be difficulties arising from the very
imperfect manner in which the South American
Custom-houses take account of these exporta-
tions, and of the frequency of shipments without
any Government visitation, but though the Re-
turns be somewhat rough, they will throw much
light upon the effect which the present diminu-
tion in the supply of the precious metals may
have on prices throughout the world. If the
supply of silver from Ameitca be now only about

Jue-seventh of the eight millions sterling which
used to be produced, and if the gold has likewise
decreased, this diminution must already have
been sensibly felt, though counterbalanced by

;lie increased supply from the Ural Mountainp

which, according to Baron HUMBOLDT, appear
to have yielded gold and silver to the value
of three millions and a half sterling since
1824. The cost of obtaining the precious
metals expresses the value of the wages of la-
bour, and consequently of all profits and in-
comes in every country ; and it is therefore a very
interesting speculation in what degree that cost
may have been lately enhanced by the greater
scarcity of the precious metals themselves, al .
stractedly from other catiaesz Prices do not, it
is true, bear anything like an exact proportion
to the actual quantity of bullion, for they have
risen only about four or five times since the dis-
covery of America, though the quantity of bul-
lion in circulation has since that time been so
enormously enhanced ; but they are regulated
by it to a sufficient extent to make the inquiry of
importance. When we know that in 1514 the
value of a hectolitre (about 34 bushels) of
wheat was equal to 333 grains of pure silver—
that in 1640 it was 380 grains—in 1789, 1,342
grains—and in 1820, 1,610 grains—and that
prices haVe been regularly rising up to within
a few years of the last-mentioned date ;
and when we consider that the present re-
duction in wages and profits has been contem-
poraneous with the falling off of the supply
of bullion, we 'cannot but think that this subject
requires much further investigation than has
hitherto been bestowed on it. Mr. HUME,
who paid much attention to this topic, observes
in his " Essay on Money," that " though the
"'absolute quantity of the precious metals is a
" matter of great indifference, yet two circum-
" stances are of importance, viz. :—their gradual
" increase, and their thorough concoction and
" circulation through the State," and it is, at ail
, events, certain, that a state of things in which
they are increasing is as beneficial, as that in

which they are on the decrease is injurious to
industry. The condition of our industry is,
that the precious metals are on the de-
crease, and the difficulty of procuring them is
becoming greater and greater. It is therefore
imperative upon the Government to ascertain as
nearly as possible the degree in which this state
of things is attributable to the diminished
supply of the precious metals themselves, for,
that being once settled, the remaining causes of
the stagnation of industry fall within the range
of those which it is in the power, and forms
part of the duty, of the Legislature to remove.
Viewing this matter as quite distinct from
what is commonly
,called " the Currency
Question," it is not necessary to mix it up with
the opinions of those who hold that the with-
drawal of four or five millions of small notes by

the Act of 1826. has created such a demand for
gold in England as to raise its value all over
the world. The withdrawal of twenty millions
of sovereigns, says Mr. PAULET SCROPE, from
the quantity of gold available for purchase in

he civilized world must make a very large hole

in it. Not so considerable a hole, Mr. SCROPE,
as the abstraction of a pot out of a barrel of
beer, for 20 million sovereigns are but the two

hundredth part of the 2,000 millions sterling of
the precious metals which are in use throughout
the world, even admitting that a demand for 20
millions had been created. We think
both Mr. Sc ROPE, and his panegyrist
in the Quarterly Review, to be in error
as to the effect they attribute to the Bill of
1826, but we entirely agree with them in the
necessity of putting our Banking Establishments
on a very different footing from that on which
they at present stand. The Quarterly Review,
in the article on Banking, has well described the
advantages that Scotland has derived from her
most excellent system of Joint Stock Companies
carrying on business upon paid-up capital—re-
ceiving deposits of any amount, however small,
on which interest is paid—and lending on the
other hand at such a rate of interest as will yield
a profit over that which they pay. The Scotch
Bankers do not, like ours, derive a profit from
floating balances left in their hands without in-
terest, or make the discounting of bills their re-
gular business, but advance money upon -Go-
vernment or real securities, or upon those excel-
lent helps to industry—cash credits. There is
no fear from the issue of their notes, because

they trade upon paid-up, not merely subscribed
capital ; nor would there be any from One Pound
Notes in England, provided measures were taken
for the security of the public, by restricting
the issue of them to such bankers as could
give the Government a satisfactory assurance of
their possession of capital, either by the deposit
of securities, or otherwise. To a paper currency,
convertible always into gold at the will of the
holder, there can be no valid objection ; so far
from it, that its tendency is proved, by the ex-
ample of Scotland, to be highly beneficial in
affording the means of procuring capital to those
whose labour would otherwise remain unpro•
ductive. Under the system, or want of system,
upon which banking in England is conducted,
small notes were, and would, if restored, be an
enormous evil ; but if once the solvency and
good conduct of the Banks are secured, the
source of mischief is removed, and the notes
do as much good as they otherwise could do
harm. The President of the Board of Trade
has expressed himself favourable to a revision
of the law concerning Banking ; and the ap-
proaching expiration of the Charter of the Bank
of England affords a most favourable oppor-
tunity of putting the whole system on a new
footing. If the Bank Directors raise obstacles,
as it is hardly to be thought they will, to mea-
sures which the public good requires the Go-
vernment has but one course to pursue, with re-
gard to the Bank Charter, which will expil e in
three years. The Government may make its
own terms with the Bank, and there is, there-
fore, no reason why it should not forthwith pro-
ceed to such a reformation of our monetary sys-
tem as appears to be imperatively required.

SHIPPING INTEIItGENCE.v.(TiIiS .)

FROM LLOttlq.3.

DEAL, APRIL I.—Wind, E.N.E. fresh.—iiiiiVed from
London, the Faith, Jackson, for St. Kitts ; Royal George,
—, for India ; rfautilust Dunsford, for Toulon.
PORTSMOUTH, APRIL I. E. N• E. --Arrived
-*rom London, the Boddington, Noyes, for 3ladras ; George,
Kaltensbury, for Van Diemen's Land. ga3e4 the William
Beasley, Small, for Quebec; Centurion, Btu ke,fo7 Quebec,
utd Colombia, Delano, for New York.
PLYMOUTH, MARCH :31.—Arrived from London, The
Nfaytlower, Martin, for America.
LIVERPOOL, APRIL !I.—Wind E.S.E.—Arrived the
Saracen, Hammond, from New Orleans; and the Ceres,
Ada, from Ancona.
MEMEL, MARCH 20.—There has been a strong thaw
this week, which has greatly diminished the snow, and
')egins td lia*.e influence on the ice, but a free navigation
is nut expected bdort the middle of April: There is no
open water on the coast.

THF MARKETS.-(THIS DAY)

CORN EXCHANGE.

There are considerable sup'pnn• this week of all kinds of
Grain except Oats. Of Flour the quantify t 6 large. There
is still a scarcity of superfine Wheat, but other strrte being
more • plentiful than of late are Is. to 2s. per quarter
cheaper. Barley meets a very heavy sale at declining
prices. Beans and Pease folly maintain Monday's rates.
Oats meet a slack sale, but are nut simper. Flour very
dull.

ARRIVALS.
Wheat. Barley.
English I 7,100 qrs. 10,9' ()qrs.
Irish
Foreign -

Oat 9. I flour.
7,300 qrs.l Flour.
550

-- brls.

CITY. MARKETS.-(TWO O'CLOCK.)

COFFEE.-The business by private contract, is small. '
By public sale, ordinary to fine ordinary Jamaica, has
sold Is. to 2s. per cwt. cheaper. Fine Coffees are, how-
ever, in demand, and 645. to 70s. are paid for middling to
good middling, for shipment. Berbice, favourite quality,
sold from 675. to 795. About 60 bales of Mocha, sold
from 755. to 855., being ss. lower than last sale pri,:es.
East India went off at 31s. Gd. per cwt. Good Mocha
realizes 100 s. to 105 s. 6d. freely.
Toßacco.—The demand for Virginias continues limited.
For the ,Antwerp and Holland markets ordinary qualities
realize 2i-d. to 211(1., and middling 3d. per lb. Of Stem-
med few purchases are.making for home use, and the stock
is considerable., A few sales have lately been made for
Ireland at 3d. to 4id. and lid. per lb.