The Sun.
London, England, 1822-03-05 00:00:00

LONDON JOURNALS.

EXTRACTS FROM 'ME DAILY MORNING PAPERS

March 5, 1522.

[MORNING POST.]
The Arm v Estimates were last night brought
forward in the House of Commons by Lord Pal-
merston, who with much perspicuity stated the
various savings that have been effected in the
',Military Department of the Public Service.—
Tile diminution of estimated expenditure for the
present year he stated at upwards of 500,0001. with
a reduction of force above 12,000 men. Great
arid gratifying as these reductions are, still fur-
ther may be looked for in the tranguillization of
Ireland. The army is now, witri this excep-
tion, in that skeleton state, from which, on sud-
den emergency, it will be easy to augment it to
any requisite size, whilst the present corps may
be regarded as a nucleus, round which a fresh
host may be gathered, retaining all the discip-
line and spirit of a veteran army. The great
Volume of Finance of course unfolded his page
on this occasion, although his Gallant Friend,
Colonel Davies, led the attack. This Gentle-
man proposed a further reduction of 3,300
men. Lord Palmerston, in reply, pointed out the
inconsistent line of conduct pursued by this
Member and his friends, by reminding the
House, that last year upon the same item he
only proposed a reduction of 10,000 men, and
that although Government had reduced upwards
of 12,000, he called for a still further diminu-
tion. .A plainer proof that opposition, and not
reduction, is the real motive of the conduct of
this Gentleman and his friends, it were impos-1
Bible to conceive. The Man of Figures, however,
resolving not to be outdone, renews the old
amendment of last year, and actually demands a
further reduction of 10,000 over and above the
12,000 reduced. He does this too, with Ireland
staring him in the face, and with the recorded
requisitions of his own friends, that the military
force there should be increased. On this occa-
sion the Hon. Gentleman also gave another proof
of his astonishing accuracy. He found out that
the reductions of the military in the Colonies
amounted to little more than 400 me❑ ; whereas
it was clearly shewn that those reductions actu-
ally amounted to 4,533. This furnished another
instance of the strange blunders so easily disco-
verable in the Encyclopwdia of Finance ! Oh !
what a fine thing it is to understand figures !

[BRITISH PRESS.]
The Bill for enabling Ministers to carry into
effect their plan for transferring the Navy Five
per Cents. into the new Four per Cent. Stock,
was committed last night. Some of the details
of the measure were considered. The Committee
divided upon a motion by Mr. Grenfell, for
withdrawing the clause in the Bill which allows
a remuneration to the Bank of England for the
trouble, &c. of managing the transfer. The mo-
tion, was rejected by a majority of 76 to 39. It
certainly would not be fair to impose the whole
trouble of this transaction upon the Bank without
allowing some remuneration, but we think that
no allowance ought to be made to the Bank for the
management of the seven millions added to the
total amount of the debt by the transaction.—
Upon this point the Chancellor of the Exchequer
refused last night to give any explanation, con-
ceiving that no opinion ought to be formed re-''
specting it until they had ascertained what would
be the increased trouble of the Bank. In the
course of discussion the Right Hon. Gentleman
apprised the Committee, that it was not intended
to give any indemnity to executors or other
trustees who had purchased annuities in the navy
five per cents. stock.- No person who, within
the last five years, purchased in the five per cents.
can have any right to complain of the present
transaction, for the very rate of this stock in the
market proved the conviction in the public mind
that the redemption of them was contemplated,
and all purchasers were aware of the risk they
encountered when they made their bargains. if
the result, therefore, ❑ow prove such as had
been anticipated, the con iequen.res must be•borne
by those Kho entered voluntarily and with their
eyes open into the contract. The Report of the
Committee was ordered to be taken into conside-
ration on Tuesday next.

rMORNING HERALD.]

The state of France would appear somewhat
critical, if the. French funds did not maintain
their price with so little variation. It appears,
by the, Papers received yesterday, that the party
which attacked Saumur, under General Berton,
is wholly dispersed, and that he had himself, in
the disguise of a peasant, taken refuge in the
mountains. The latest account of his attack
upon Saumur differs somewhat from that which
had previously reached us. On his approach,
the Mayor of the town met him alone and un-
armed, and declared; with great intrepidity, that
his entrance -under rebellious colours would be
resisted. Berton, finding the gates closed, aban-
donetlthe attack, and the result was his being
deserted by the band of abono2so, who had
joined his standard. In Paris, 'too' it appears
that some alarm was excited. We have al-
ready mentioned the tumult in one of the
churches in the metropolis, whilst the Mis-
sionary Priests were performing religious Wor-
ship
there. The disturbance becitne so gene-
ral, that the military were called out, and se-1
veral persons. arreSted,'among Whom were two
leading DepUties of the left of the Chamber,
MM. Corcelles and Deinarcay. It does' riot Ap-
pear that they had been liberated. One -of the
Journals' states that Gen. D., 'whom we suppose
to be the latter Deputy, General Demarcay, was
apprehended whilst vehemently harangning the
multitude. It does not appear to us that this
affair in Paris is of a serious character. The
arrest of the two Deputies'niay‘have been merely
the conseqUence of their accidental presence.—
Pethaps also the exasperation of the public feel-
ing is encouraged by those who wish merely to
get rid of the present Cabinet, which we suspect
is tottering at this moment: The Duke de Cazes
is again in Paris, and has had a long audience of
the King. It is not improbable that this fer-

ment may place him once more at the head of
the Government. He is a shuffling politician,
but a dextrous shuffler, who understands the
play of political parties in France, the best of
any Minister who has been at the helm since the
restoration.

[MORNING CHRONICLE.]
The Bill for converting the Five per Cents.
into a F6ur per Cent. Stock, went through the
Committee last night, without opposition, except
on the clause respecting the allowance to the
Bank, on the understanding that it should be
more fully discussed on Thursday. In the Com-
mittee various questions were asked by different
Members with regard to trustees, the manner in
which dissentients were to be paid off, and
whether executors were to be protected, who had
laid out monies entrusted to them for the pay-
ment of annuities, if they should not dissent from
the plan. The Chancellor of the Exchequer
admitted many legal difficulties must occur,
which the Bill could not provide for, and which,
we understood him to say, might be discussed in
the House of Lords, when the measure got there :
but it is evident all these inconveniences could
linot have arisen, if the same fair, open, and candid
dealing with the Stockholder had been pursued
in the present instance, as in Mr. Pelham's ar-
rangement in 1749. A question was put to Lord
Londonderry by Sir R. Wilson, Mitt! respect to
the state of the negociations between Russia and
Turkey ; in answer to which, the Noble Lord
referred him to the paragraph in the King's
Speech on the opening of the Session, as still
containing the opinion of Government on that
subject; and Mr. Ellis expressed his conviction
of the good faith of Ministers in the transaction,
and that they could only proceed in a measure of
such importance to the public creditor, on the
full reliance that the existing differences would
be amicably adjusted. For our own part, how-
ever, we must confess, that we know not how to
reconcile this confidence on the part of Ministers
with an infinity of circumstances which point
strongly to a war between Russia
aand Turkey.
Certainly the general opinion is very different,
both here and on the Continent, from that of
Ministers. We have elsewhere alluded to an
article of the 23d from Augsburgh, in yesterday's
paper ; and our readers will find in the extracts
from German Papers in this day's, accounts of
increased warlike demonstrations on the part of
Russia.

[NEw TIMES.]
The Constitutional Association are proceeding
with dignity, and at the same time with the most
considerate moderation, in carrying the laws
against sedition into effect. Another of their
prosecutions yesterday led to a verdict of Guilty.
The offender, however, both on account of his
youth and of his previous good character, was
recommended by the Jury to the lenity of the
Court : and in this recommendation the Learned
Counsel for the prosecution most readily joined,
on the part of the Association ; whose object, he
said, was much more to reform than to punish.—
The continued succession of verdicts against the
parties indicted by this most salutary Association,
has entirely put an end to all the trash we used
to hear about their supposed incompetency to in-
stitute prosecutions; and if a doubt on this point
could still have remained in any person's and, it
must have been removed by the clear and lumi-
nous exposition of the law, as laid down last
week by the Common Serjeant. Indeed it seems
strange that any person should ever have enter-
tained the notion that it could be unlawful to put
the laws in force ; or unconstitutional to repress
attacks on the Constitution.

[THE TIMES.]
Yesterday was the commencement of the 12
days allowed to the holders of Navy 5 per Cents.
for the expression of their dissent to the plan for

he reduction of the interest of that Stock; and

the ice was first broken by an individual who
put down his name, as claiming his principal;
that principal amounting only to 3801.; and the
total amount of Stock on which payment in mo-
ney has been claimed amounts to 20,0001:. We
state this only as a report, but one • which
we believe to be entitled to some credit.—
The process, however, (which we -hasten to
describe), is veiled in such mystery, that nothing
can be well learned from external appearances.
The manner, then, of carrying the proposition•
of Government into effect, is by a circular let-.
ter, which the principal, or agent in his behalf,
signs in the office of Mr. !case, the chief Cashier
at the Bank, whence it is carried to the Five
per Cent. Office, al,)d there checked by the clerk,

in order to ascertain that the person holds such
a quantity of stock.- The letters are then brought.
back to the Cashier's office, where they are num-
bered in rotation, and deposited. It is understood

that the names and the sums, are then entered in a
book, which, however, is not allowed to be inspect-
ed. The applications for the printed forms were
numerous. But, with regard to the number of per-
sons who have signed, it is, as we above hinted,
extremely difficult, on account of the method pur-
sued, to obtain information. Avery reasonable
petition was last night presented to the House,
requesting more time to be allowed to those who
wished to sign their intention of receiving their
principal
,; 'and a very pertinent question was put
by Mr. Ellice to the Chancellor of the Exche-
quer, whether the Right .Hon. Gentleman did
not, in conformity to the prayer of the petition,
intend to allow more time ? -The answer was in'.

audible in the gallery. But there was, besides,
a. variety of conversation on the subject, for an
account of which we wish our readers to consult
our Parliamentary report.

FIDE PER CENTS.--The following.is the form
of the letter issued by the Bank of England, for
such persons to fill up, who choose to dissent to
the plan for the reduction of the Navy Five per
Cents :
" To the Governor and Company of the Bank of England.
" No.

" I do hereby give notice, in pursuance of a resolution of the
House of. Commons, passed the 28th February, 1822, that
dissent from accepting •4 per cent. annuities, with respect
to 5 per cent. annuities, now standing in name ;
and that —.--require to be paid off in money, according to the
terms contained in the abovementioned resolution.

" March —_--,1822.
X••••••••••••

" Agent or attorney to said —"

LAW INTELLIGENCE.

COURT OF KING'S BENCH, MARCH 4.
(Sittings at Guildhall before the Loan CHIEF JUSTICE.)

FORD V. BRAMAH.
This action was brought by the Assignees of a Bankrupt
named Ford, under the direction of his Honour the Vice-
Chancellor, to try whether the Bankrupt had been a trader
within the meaning of the Bankrupt Laws. The Defendant
was the celebrated Engineer, and a question in equity be-
tween the parties depended upon the act of bankruptcy. It
appeared that the Bankrupt, who had been an Attorney, sold
a few dozen's of wine, and the question was whether be was
to be considered a trader.

The LORD CHIEF JUSTICE was of opinion, that no person
could be considered a trader unless he had carried on business
as the means of support ; and the Jury, under all the circum-
stances, found, by their Verdict, that it was not a valid bank-
ruptcy.