The Sun.
London, England, 1831-01-10 00:00:00

EXCHEQUER BILLS.

(From the Times.)
The premium on Exchequer Bills is still advancing, and
is now 365. to 375. The expectation of a funding has
gained ground considerably within the week. While the
danger of war is hanging over us, nothing can be more ob-
vious than the necessity of diminishing the floating debt ;
for, though the amount of Exchequer Bills in circulation
is not excessive, a fall in them much below par would
prove extremely embarrassing to the Government, by
causing them to be paid in, as on former occasions, for
duties, and thus diminishing the ways and means. It
ought to be borne in mind, that the deposits made in be-
half of the savings banks, which amount to between
15.000,0001. and 16,000,0001. are, in effect, another de-
scription of floating debt, for which, as for Exchequer
Bills, payment in full may be claimed, and this contin-
gency ought not to be lost sight of by a prudent Minister.
(From the Morning Herald.:,
We perceive that the speculators fur a fall in the Stock
Exchange are still harping on the report relative to the
Government having determined to fund Exchequer Bills
to the amount of ten or twelve millions. We very much
question, however, whether there is one in the whole body
who really entertains any such opinion. At any rate it is
quite clear that the rise in these securities has not been
occasioned by the expectation of a funding being likely to
take place. Had this been the case, the advance would
have been confined to Exchequer Bills, whereas it has ex-
tended in an equal proportion to India Bonds—a proof that
it is to be ascribed to an excess of money in the market or
to some speculation of capitalists, whereby they have ex-
changed their funded stock for floating securities.
(From the Morning Chronicle.)
• - -

It is now pretty well understood that the extensive pur-
chases of Exchequer Bills, by which the premium on them
has been doubled within the last few days, have been
effected chiefly by the agents of the Northern Banks with
the proceeds of counter-operations in the 31- per Cents.
One broker clone has laid out, we are told, no less a sum
than 400,0001., tending more than ever to increase the
belief relative to the funding, as it would appear that by
some means or other the Directors of these Northern
Establishments, though far removed from the metropolis,
contrive to obtain the earliest information relative to all
the great financial transactions, by which they are enabled
to amass large profits. Exchequer Bills, therefore, a few
days since heavy at 16s. and 18s., have to-day (Saturday)
been sold so high as 375. premium ; and with such a
scarcity at this improvement, owing to the large amounts
cleared off the market, that it was almost impossible to
obtain even small sums under a much greater sacrifice as
to price. The premium, in fact, after the advance just
referred to cannot be considered as large, the bonus on
the funding if it take place, being probably worth 20s.
or 30s. per cent. more. The closing price this afternoon
(Saturday) was 365., and the premium on India Bonds
from 18s. to2os.

IRELAND.

(PRIVATE CORRESPONDENCE.)

DUBLIN, JAN. s.—You will see by the Dublin Papers,
that Mr. Stanley's letter to the Magistrates of Ireland has
brought down upon the head of that devoted gentleman
torrents of declamation, such as neither he nor any one
else, I verily believe, could have ever dreamt of. The
letter is, in fact, a sort of fac-simile of that issued by Lord
Melbourne to the Magistrates in the disturbed districts of
England, qualified and adapted to the peculiarities of this
country. On your side of the water, people, I imagine, in
general did not find any thing unnecessary, not to say
illegal, in Lord Melbourne's epistle ; but we are in the
habit of viewing matters in this happy country through a
different medium. The letter is considered an insult to
the Magistracy of Ireland—a violation of the law,—nay,
as little short of high treason. This would be all abun-
dantly ridiculous, if it were not very melancholy.
The question is, what will the Government do ?
cannot answer that question. I believe there is no one
who can answer it accurately. They talk of prosecutions
not only against the Press, hut for parole sedition. It will
be very difficult; I think, to manage this, and I own I am
not one of those who approve such prosecutions. On the
other hand, Government are not allowed time to bring the
ameliorations into play. They are badgered and hunted
in such a manner, that I ant very much afraid recourse
must be had to extreme measures. This I should depre-
cate ; because, notwithstanding the uproar of the Repeal-
ists, I am persuaded the delusion will pass away before the
lapse of the next three months.
1 referred in toy last to certain tithe proceedings in Kil-
kenny. I send you an extract of a letter from that place.

I also send you a letter from Newry on a circumstance
which I think is likely to cause some noise hereafter.
KILKENNY, JAN. 4.—A large body of the 66 hurlers"
again assembled at Burnchurch yesterday ; the multitude
surrounded the house of the Rev. Dr. Butler, and a depu-
tation, consisting of twenty-four parishioners, came for-
ward, requesting to see him, and o❑ his appearing at the
window, they stated they came to demand a reduction of
tithes. The Rev. Doctor pulled out from his pocket an
address, which he read. It reminded them of the many
acts of kindness he had done to numberless of his
parishioners, in supplying their wants in seasons of dis•
tress, and affording them extensive employment—re-
minded them that hitherto they had paid his tithes with-
out dispute, and that the last harvest was admitted to be the
most remunerating one the farmers had had for many
years—declared that to clamour he would yield nothing,
and begged them to depart with his blessing. This, you
may suppose, was, though a decided, any thing but a satis-
factory reply, and the people loudly declared they would
all resist the payment of his future demands.
NEWRY, JAN. 4.—A man named Wilson, a pensioner
of the 87th Regiment, was arrested here some few days
since, from whom some important information has been
obtained by tke Magistrates, touching the proceedings of
the Tommy Downshire bays. It appears that he has been
employed by some parties at 365. per week, to train bands
of armed men by night. On Saturday an order was re-
ceived from the Lord Lieutenant to transmit him to Dublin,
and be has been accordingly sent thither.