The Sun.
London, England, 1822-05-09 00:00:00

and was again adjourned. The most remarkable I
part of the proceedings was a proposition, so
very strange and extraordinary, as to be almost
incredible. It was nothing less than to strike off
at once twenty millions of taxes! What is
still more wonderful is, that the motion was
made the subject of serious discussion and
of a formal division. And this project was to
be entertained, forsooth, for the purpose of pre-
serving to the landholders their rents! As if it
could be carried into effect by any thing short of
a convulsion which would deprive the Govern-
ment, legislative and executive, of every vestige
of power—as if it were possible to break up the
very constitution of society, and to preserve at
the same time the safeguards of property. All
who can indulge such monstrous expectations
will do well to attend the next course of lectures
on political economy that may be delivered at
Bedlam.

[THE TIMES.]
The universal question in the city is, who wil
take the new contract? From the Bank, it is
understood, there are no hopes ; and we believe
we may add with perfect confidence, that there
is no list forming of private contractors, nor any
class of monied interest entertaining the most
remote intention of becoming competitors for the
bargain. They prudently decline to lock up pro-
perty to so considerable an amount for so long a
series of years, subject to all the contingencies of
war and changes of administration, productive,
too, it is possible, of ruin to themselves and their
children. On the other hand, who that has ob-
served the way-feeling habits of the Chancellor
of the Exchequer will conclude it possible that
he has brought forward a scheme to which no
one will listen—a contract for which no contrac-
tors are to be found ? We have heard it
affirmed, on the contrary, that the Right
Honourable Gentleman has declared that be-
fore he divulged the plan he was sure at least
of one offer : but the source from whence it
proceeds has not transpired. A few days will
clear up the mystery ; but we must hope, in
the mean time, that our remarks of yesterday
will prove well founded, that he will admit of,no
proposal for completing the contract which does
not rest on funds bona fide existing previously to
its being entered into, and not to be created for
the purpose. It is exactly a century since a
bubble exploded, which has become proverbial
for all other delusions of the same class ; and
though public credulity does riot flourish now
as it did then, it is always right to guard it
against imposition. We explain our allusion by
stating what has been described to us as the
only mode of completing the contract, and that
also which is said to be in contemplation. We
do not, we should observe, vouch for its accuracy,
but we have heard that a public company is to
come forward ostensibly as contractors for the
new annuity project. This company has funds
at disposal, but inadequate in themselves to the
1 undertaking. What they want in capital is
to he supplied in credit ; they are, there-
fore, to 'have the power of issuing bonds on
which money may be raised in the market.—
These securities, in ordinary estimation, will
acquire a value nearly equivalent to Go-
vernment paper, and perhaps, if issued with
discretion, will merit that distinction ; but as it
will be impossible to restrain those issues, a new
source of speculation may arise as dangerous in
the end to the public as the golden dreams of
profit from the South Sea scheme. We trust that
our apprehensions are ill-founded, but having
heard this assigned as the denouement of the pro.
ject, we thought it better to speak in time. If
we waited tilt the business were over, we might
not perhaps find it quite safe to do so.

By a vessel which put into Cork, letters dated
Feb. 23d have been received from Bahia. This
province, it appears, like the rest of the Brazils,
has been the scene of conflicts between the Euro-
pean and the native troops ; but which seem to
have arisen in this instance out of the natural
hostility between them, rather than from poli-
tical causes. The story in brief is as follows:
The new Junta► of Bahia had nominated to the
office of Commander-in-Chief an officer, colonel
of one of the Brazilian regiments, when an order
arrived from the Cortes of Lisbon for the ap-
pointment of a Portuguese officer, then at the
head of the European regiment there, to the same
station. As the latter appointment was deficient
in certain official forms, the Junta declined
' carrying it into effect till their arrival ; but it
was understood that the people of Bahia had no
repugnance to the nomination of the Portuguese
officer, neither did the Brazilian Colonel show
any disinclination to resign his new honours, on
the functions of which he had indeed scarcely
entered. But from this situation of things, the
military had in effect no Commander-in-chief,
and a degree of ill-will arose among them
which led to frequent skirmishes, terminating in
bloodshed,between the native and European troops.
A corps of Brazilians, occupying the castle of
St. Pedro, are s'!id to have fired upon the Portu-
guese from thence, who, exasperated at the
outrage, attacked and carried that fortress, which
commands the whole town, and the possession of
which they retained when the accounts came away.
No statement is made of the loss of lives in the dif-
ferent encounters, but it must have been consider-
able. There were, we understand, no further ill
consequences apprehended from the occupation of
the Castle of St. Pedro by the Portuguese troops,
as their number was very small compared with
that of the Brazilians, and it would not be diffi-
cult, therefore, if rendered necessary, to starve
them into a surrender, But the termination of
the affair would probably be, as soon as the late
events at Rio de Janeiro became known at Bahia,
the shipment of the Portuguese troops for Eu-
rope, as the most eligible mode of healing all ani-
;
mosities.--(Morning Paper.)

A Meeting of the Clergy of the Diocese of
Canterbury was to be held this day, to consider
of a Petition to Parliament against the Bill for
admitting Roman Catholic Peers into the House
of Lords.

VELOCITY.— The Velocity steam-vessel ar-
rived at Newhaven from Aberdeen on Friday
afternoon in 10.1- hours, including stoppages at the
five intermediate ports.—(Edin. Courant, May 6.)