The Sun.
London, England, 1838-04-06 00:00:00

FRENCH SPECULATION.

The spirit of speculation is raging to an extraordinary extent on the
Paris Stock Exchange, and every post brings particulars of schemes
started, and of manoeuvres practised by schemers, which bear a close re-
semblance to the state of things here in 1825, The frenzy in Paris
has attained to such a height, it seems, as at length to have attracted the
attention of the GoversiMellt and the Chamber of Deputies, where re-
pressive laws for checking the spirit of gambling abroad, and for punish-
ing the unprincipled speculators and projectors, appear to be contem-
plated. In the recent discussions upon a new bankrupt law Revere! Mem-
bers of the Legislature expressed themselves with great warmth reapeetinar
the "cunning schemers fleecing blind victims with impunity," and
the
reflecting rashness with which "so many people were throwing themselves
into a career of blind hazard, and seeking fortune by the most incur'.
eeivable means." . . . " Commercial disorganization," says M.
Teste, "is imminent; disasters will follow, and shortly victims will be
innumerable, and the infatuation of the country dearly paid for." The
extent to which schemes have been multiplied in France is surprising,
the regular share lists quoting the juices of nearly 500 public companies
ofall worts, besides a variety of other affairs not sufficiently reputed to be
favoured with a quotation. Among other manoeuvres to entrap dupes
recourse has been had to distant lands. It is a common trick, as stated
in a letter from Waaltington, to delude European capitalists
with highflown representations of the value of certain lands in
the United States, of which an example was stated at a recent sitting of
the Academy of Sciences at Paris. A memoir had been present" by
a M. Warden about the discovery of certain mines of copper in the ter.
ritory of Wiiicousin, founded upon a report of one Stambaugh, repre.
sented by himself or others as having been employed by
the American
Government to examine or survey that part of the Union. In this re.
port Stambaugh pretended that the mines extend over a surface of more
than four hundred acre., and that the mineral is found at eighteen
inches below the soil, and becomes more rich according to the
depth. Gross as was this falsehood, it produced all the effect calculated,
dupes having been found to purchase the lands for 100,000 dol., who would
not have given 5,000 dollars had the slightest knowledge been possessed
of their real mineral value. With respect to Stambaugh, it was en.
tirely false that he had ever been employed by the Government of the
United States to examine the country, nor was it indeed at all likely he
should have been, from his utter ignorance of mineralogy, the man in
fact being no more than a suttler to one of the military posts on the In-
dian territory. It is indeed impossible to take up a French paper
without encountering advertisements for numberless new companies
fur alj sorts of objects, from railroads, Iron and coal mines,
down to " galvanised iron," " lithographic stones," Ir swan
p and stearine,"
and even for "the discovery of mines of coal and bassinet' in the
district of Scnlis," with a multitude of others not at all less extrava.
gant, The causes of this irrational and gamblingrnania are variously ac-
counted for, but it seems to be considered that the reduction of the
general rate of interest, the higher prices of the funds, by which the
return upon them is reduced in reality to about 4 per Cent„ and the
reduction of the 5 per Cents., still talked of, and more or less remote:),
likely to be effected, combined with the abundance of money arising
from a generally increasing prosperity of trade daring so many years of
peace, have jointly tended to produce this state of speculative eaciternent.
The reduction or the Fives by 1 per Cent, is calculated seriously to
affect the smaller classes of rentjers in their means of subsistence, and
this seduces them too readily to embark in any fine.worked scheme by
which their annuities would apparently be Considerably increased,

•
Lord Charles Fitzroy paired off against the motion
of Lord Chandos, and the story of big dismissal for not
having voted, is only one of the baseless fabrications of the
Tories.

BIRTH.—On the 2d inat., the Lady of W. It power,
of Craven-street, Esq., of a daughter.

A PAT It IA RC FIA L PA R T Y.—At the Parish
Church of Llanaßa, on Sunday the 18th instant, vt as christened
Rebecca, fifth child of Elias Evans, smith, by Mary his wife.
The ceremony was attended by the young Christian's father
and mother, her grandfather and grandmother, her great
grandfather and great grandmother, and her great great
grandfather, who walked a considerable distance to attend
the christening. The party analysed would appear thus—
Rebecca is the daughter of Elias Evans, smith, of Edward
Evans, smith, son of William Evans, smith, whose wife
Mary, is daughter of Edward Jones, the great great grand.
father, late warrener of Llanasa, who died in his 93d year,
and who has now living more than 160 deseendants.—Carnar.
von Herald.
We understand that the Directors of the London
and Westminster Steam-boat Company, in order to teat tho
plan so strenuously supported by Captain Basil Hall, have or.
dered one of their vessels to be fitted up with the wheel at the
head inste4d of the Stein?