The Sun.
London, England, 1822-02-23 00:00:00

LIVERPOOL replied, that of course the dividends on the Five
per Cents. would be paid in July, to those who dissented from
the plan, as well as to those who assented. The Meeting then
broke up.

We yesterday gave a brief statement of this
interesting and important Meeting, which the
preceding documents this day confirm.

1 This Plan for reducing the Five per Cents. ap-
-1 pears to have been in general favourably re-
ceived ; and it can scarcely fail to effect the
object for which it has been framed. While we
rejoice at an arrangement which is likely to
prove so beneficial to the finances of the country,
we are sorry that it should be accompanied by any
thing which can even be construed into an appear-
ance of trickery, or that may by possibility pro-
duce injurious and unjust consequences to indi-
viduals. We allude to the conditions which re-
quire that the names of parties who dissent from
the offer of 1051. in the New Stock for every
1001. in the Five per Cents. 'shall; be inscribed
between the 4th and 16th of next month, and
that the parties so signifying their dissent shall
be paid off in the numerical order in which their
names are enrolled. One effect of this will be to
render Ole Stock of those persons who form
the first - part of the list less valuable than
that of those who form the:remainder of the list;
—for, if the Five per Centsr'should be at 101 or
any higher amount; no one Will buy from
:those
holders whose position on the list renders them
more liable than others to be speedily paid off
at 100.—This, then, is an arrangement which
induces the holders to refrain from recording
their dissent till the very last moment ; and yet
requires that they shall all, who are so disposed,
express their dissent within a given time'—
Besides, is not the time fixed (the 16th March),
too short to allow many of the holders to deter-
mine on a clear understanding of the propositions,
financial operations of this kind being to many
persons quite unintelligible? _Some few, even, may
not be apprized of a measure, in which their
interest is so much concerned ; and yet they will
be peremptorily debarred from a choice after the
day appointed, unless they shall have been out
of the kingdom. These circumstances, to be
sure, are the less to be regretted ;- for, as the
Four per Cents. are now within 21 of par, and
will probably advance still further, it appears to
us that the terms offered to the holders of Five
per Cents. are advantageous. Though the addi-
tion to the principal of the debt, which will be
made by this proceeding, if all the holders of
Five per Cents. accept the offer of Government,
will be 75750,0001. yet the annual interest of the
debt will be reduced by the sum of 1,240,0001.
which is the amount proposed to be annually
saved to the country.

STOCK EXCHANGE, TEN O'CLOCK.

The House is crowded this morning, and a great deal of
business is transacting : Consols opened at 74 79 ; 5 per Cents.
are 104 ;—when the result was first known yesterday of the
plan of the Lords of the Treasury, the Funds fell, but after
three o'clock there was a great quantity of 5 per cent. thrown
on the market, and Consols rose per cent.
TWELVE O'CLOCIL—The Funds are not so brisk as at the
first opening of the market this morning, which was 78j to 79 ;
Consols are now 78i fur the Account, and 5 per Cents. 103.—A1l
Foreign securities are on the rise, owing to a number of persons
investing their property in the above funds, by which they can
obtain a greater interest.—Old Spanish Bonds 59i ; New
Spanish 604 ; Prussian 88i 4 ; Danish 35 ; French 5 per
Cents 90-5.

A long discussion took place last night upon
the Navy Estimates. It was rendered remark-
able by an attempt of Mr. Hum: to extort from
his Majesty's Ministers a circumstantial disclo-
sure of the specific purposes to which the re-
quired sums were destined ; what particular
payments were to be made 'under the head
of Searnens' Wages,—Wear and Tear of Ships,
—Victualling,—and Navy Ordnance. The
proposition was successfully combatted on ge-
neral principles, nor can we imagine one more in-
consistent with a proper execution of the services
in question, more calculated to obstruct and
harass any government, and in many cases that
may easily be supposed, more threatening to
the interests, honour, and even security of
the nation. Disclosures of the kind contem-
plated of course involve an exposition of the
manner in which our naval resources are to be
distributed, and, in a great measure, of the ser-
vices to which they are to be applied, and if the
purposes of Government, in these respects, may
be inquired into by Parliament, it follows that
every measure may be debated, and to a cer-
tain degree controuled, by that body. And
from the publicity of our Parliamentary pro-
ceedings it of course results that the com-
munications thus made by Government would be
made not only for the instruction of our own
countrymen throughout the empire, but of all
foreign nations. Such a state of things would
obviously, from the very nature of the naval
service, be injurious and embarrassing in the
highest degree during a general peace ; but on
the eve of war, or during the prosecution of hos-
tilities, it would be little less than fatal to our
Interests. These are considerations certainly not
to be found in any arithmetical treatise, but
which could not be altogether kept out of sight
in a discussion on Navy Estimates.
Mr. HUME was followed by Mr. CROKER, who
not only answered him on the general principle,'
but she wed that in many other respects the lion.
Member for Aberdeen had made but an unlucky
cruise. Mr. IIr.TME stated, that Government had
expended,since the year 1817, in the building and
repair of ships, no less than 17,000,0001. a sum
large enough to build all the navies in the world.
Mr. Caorcen. offered in reply a number of
details which shewed that the money laid out on
these objects in the period alluded to had not
amounted to six millions, and the only mode in
which Mr. Hum: could have raised the sum
to seventeen, was by taking in under the head of
ship-building and repairs the expence of build-
ing docks, dock-yards, and wharfs, of the works
at Sheerness, and even of the Plymouth break-
water. In comparing the expellee of the Marines
on shore with that 9f the seamen afloat, Mr.
Hum had erroneously pointed out that 350,000/.

were allowed for the first and '250,0001. for
the latter ; forgetting that the estimate for
the Marines included barracks, clothing and
food, as well as wages, but that wages only
entered into the calculation for the seamen.
Such oversights as these are hardly venial in any
gentleman interfering in public affairs, but they
are capital faults in those whose only claim to
distinction is a rigid accuracy. .
Mr. BENNET, (who the other night reproved
the SOLICITOR...GENERAL for introducing into
Parliament the language and manners of the
Courts below) declared that the Honourable
Secretary to the Admiralty had found a mare's
nest ; and that the system of granting Sup-
plies without inquiry formed one of the ar-
ticles of indictment against the House of Com-
mons. He intimated that the Hon.Ge,ntleman had,
both in the House and elsewhere, directed the
arrows of his wit against Mr.HumE for his finan-
cial exertions. This, which we suppose to he an
allusion to current rumours respecting a Sunday
Paper, drew from Mr. CI:OKEg . the reply, that
" upon his honour as a Gentleman, he did not
think he had ever, out of that House, taken the
liberty of _making any sinister allusions to the
public conduct of that Ron. Member."

We received this morning the French Papers
of Wednesday, of which the following are ex-

tracts :

" PARIS, FED. 19.—The King has lost one of
his most faithful subjects in the person of the
Marquess de Barail, Lieutenant-General of his
armies.
" The account of the election of the Abbe de
Pradt, as Deputy for the Department of Rosanne,
is incorrect ; 120 votes are required for the ma-
jority. M. Maudre, the Royalist Candidate, had
119 votes, M. de Pradt, 108.
" The Minister of the Interior has just pub-
lished an order that no Foreign or French vessels
coming from the North-east coasts of Spain shall
be admitted into the ports of France after the
15th of next month, unless they are furnished
with a Certificate from the French Consul at the
port from which they sail.
FRENCH FUNDS.

Feb. 19, Five per Cents.
Bank Stock 1567 f. 50 c.
HERMANNSTALIT . (IN TRANSYLVANIA), JAN.
31.—The public are already informed, that the
Hetaerists, - assembled in Bessarabia, have been
sent into the interior of Russia since the. depar-
ture of Prince Suzzo. They are now cantoned
on the left bank of the Dniester. This measure
at first excited great surprise, but when the arrest
of the Walachian Chiefs, Pentedeka, Basil Bar-
las, Georgias Manas, Soufas, and Karabies was
known, all the Greeks rejoiced at it, because all
these Chiefs now arrested were formerly insti-
gators of the troubles in Walachia, and the com-
panions of Savas, who, by his treachery, 'sacri--
ficed the unfortunate Prince Alexander Ypsilanti
and the sacred cohort. They are the men upon
whom Ypsilanti, in his well known Procla-
mation, invoked the vengeance of Heaven, the
contempt of mankind, &c.
" It might have been thought, that after so many
misfortunes brought down upon the Greeks,
these men would have refrained from new plots ;
but it is generally affirmed that.they had secret
connections with the Turks, which were disco-
vered by the Russian Authorities.
" We have news from Jassy of the day before
yesterday. The excesses of the Ottoman troops
had not ceased a moment. Salih Paella, whose
head-quarters are at Fockzany, did nothing to
restrain them.
CORFU, JAN. 2.—Letters from the Morea, of
the 9th January, say that the Central Govern-
Government of the Greeks has constituted itself
at Argos. The• Provisional Commission of Go-
vernment is composed of six Ecclesiastics and six
secular Members: Prince Koradha, formerly
llospodar of Walachia, who has resided for some
years at Pisa, in Italy, is named President, and
his son-in-law, Prince Michael Suzzo, who is ex-
pected from Russia, Vice President. A vessel is
sent to Leghorn to take them on board. Prince
Cantacuzena is sent to Russia, and other persons to
other Courts of Europe, to implore their aid, or
at least their neutrality-. The Senate of Argos
intends to publish a declaration, in which it will
promise to adopt a form of Government entirely
monarchical, and to accept it from the hands of
the Christian Powers. The Greeks desire no
other emancipation than from the insupportable
yoke of the Turks.
" AIX-LA-CHAPELLE, FEB. 1 5.—A ccounts from
Berlin say, that news has been received from the
Turkish frontiers very different from all that we
had heard before respecting the pretended Treaty
said to have been concluded between Persia and
the Porte. It should seem, on the contrary, that
the Persians continue their hostilities, and even
that a smart. action lately took place near Bagdad.
" Numerous couriers have lately passed through
this city for Petersburg', Vienna, Berlin and
Paris.

" A UGSBURGH, FEB. s.—Our letters from Vi-
enna by to-day's post are by no means satisfactory
respecting the pacific intentions which have hither-
to been ascribed in that city to the Russian Ca-
binet. It is generally believed that important
events will take place next month, for many per-
sons consider war as inevitable. The Russians
seem to be quite tranquil in Bessarabia, while the
Turks make marches and counter-marches, which
are of no importance, but much harass the inha-
bitants.
" They are also putting their fortresses on the
Danube in the most respectable state of defence.
Many European engineers (said to be English)
have lately arrived from Constantinople, and di-
rect all the works. There is no appearance of a
speedy evacuation of the principalities.
" CYPRUS, JAN. 11.—We have little reason to
believe that the next campaign will be attended
with decisive effects to the Greeks of the Archi-
pelago, and the other Mediterranean colonies.
They work at Ipsara with extraordinary activity
to increase their Navy,, and to fit out as armed
vessels all merchant-ships large enough for that
purpose ; munitions arrive from all parts, and
Europe furnises us with distinguished naval of-
ficers, whom the peace, or more probably a love
for the cause of liberty, bring iu crowds - to the