The Sun.
London, England, 1825-02-05 00:00:00

[THE PUBLIC LEDGER.]

It will be seen by our Parliamentary Report,
that the campaign has commenced with strong
symptoms of vigour bit the part of those who
form what is called the Opposition, upon the Irish
question. A long discussion took place, last night,
upon the question for bringing up the Address, in
answer to the Speech, in which Lord Nugent,
Sir John Newport, Mr. Denman, Mr. Fitz-
gerald, Mr. C. Hutchinson, and others, strongly
condemned the measures already adopted by
Government towards the Catholics of Ire-
land, as well as those in contemplation. Mr.
Peel, Sir Thomas Lethbridge, and Mr. But-
terworth, as strongly defended the conduct of
the Irish Government ; and Mr. Peel declared
his decided opinion, that the great body of the
Catholics of Ireland, would not identify them-
selves with the proceedings of the Catholic
Board. Whilst Mr. It Martin -as confidently as-
serted his opinion and belief to be, that although
the great body of the Catholics did not approve
o f the violent language used by some of
the Members of the Association, yet that they
agreed with the Association in principle, and
would act by their directions, and support
any proposition emanating from the Board ;
and Lord Nugent said, he should on an early
day have to present a petition from the English
Catholics, signed by three rimes the number of
persons who ;lad signed former petitions from
that body, which petition should state one fact,
namely, that the English Catholics agreed with,
and were ready to support with their voice, the
claims of their Irish brethren. In the midst of
this diversity of opinion, :his Majesty's Govern-
ment have - determined on immediate ap-
peal, by %d itch the opinion of the House may
be obtaingd. Mr. Goulburit gave notice of
iv' motion forrThuesday,next, for leave to bring
in a Bill to prevent illegal Associations in Ire-
land. This • hasty /node of proceeding was
strongly reprobated by Mr. Brougham, who con-
tended that dine should be given for assembling
and obtaining the opinion of Irish Members on
this important subject, and with a view of en-
forcing a full attendance previous to the second
reading of the Bill, he moved that the House
should be called over on Friday se'nnight,.
which was ordered. That paragraph in the
Speech which alludes to Indian Affairs was also
discussed at considerable length ; and Sir Charles
Forbes censured the Government of India, for
having unnecessarily and wantonly plunged the
British Dependencies into a war with the Na-
tive Powers. He also ridicu;ed the idea of send-
ing out so small a force as Ministers contem-
plated, where a force of forty thousand men
would be required to effect any good object.
This attack on thelndianAuthorities called up the
President of the Board of Confront, who said a few
words in justification of the Board,and requested

of the House to suspend its judgment until cer-
tain Papers, now in progress of printing, should
be laid before them. The Right Honourable
Gentleman also expressed a confident opinion,
that, when they had read those Papers, Gentle-
men would agree with him,that the war in which we
were engaged was unavoidable, and that it had
been brought on by the unjust pretensions and
faithless conduct of the Burmese Government.—
The Right Hon. Gentleman also gave another
piece of important information to the Public,
namely, that advices had been received recently
which stated, that the health of the troops about
Rangoon had greatly improved of late.

[MORNING CHRONICLE.]
The King's Speech has produced no tensible
effect upon the English Funds, for the statements
contained in it, and in the speech of Mr. Canning
in the House of Commons, are of so balanced a
nature, that the most experienced jobbers upon
'Change are undecided in opinion as to whether
they ought to buy or sell. The impression, how-
ever, as far as it could be ascertained yesterday,
tras unfavourable to a rise in the Funds, as Mr.
Canning admits that the recognition of the
independence of some of the South Ame-
rican States excites some uneasiness as to the
future conduct of the Allies, whilst his expres-
sion of hope that all will end well, is by
no means of a sufficiently decided character to
satisfy the speculators who are usually most sari-
guine for a rise. The part of the Speech which
alludes to the desire of our Allies to maintain
and cultivate the relations of peace with his Ma-
jesty is considered very equivocal, as compared
with what was said in the Speech at the close of
the last Session, and which was as follows :
" I continue to receive from all Foreign Powers
the strongest assurances of their friendly disposi-
tion towards this country." Our City Politicians
fear that the desire here mentioned amounts only
to a hope that England may pursue such a policy
as will induce the Allies to remain friendly, and
not to the usual pledge of amity. Consols for
the Account opened yesterday morning at 93-a,
and were, at the close of the day, 93f4. In the
Foreign Market there was very little doing ; the
South American Securities, have, however, im-
proved a little. Mexican Bonds were at 8l
and Colombian at 911. The effects of the Lord
Chancellor's notice on Wednesday night, relative
to Joint Stock Companies, has not been so great
as might have been expected, though Shares ge-
nerally were a good deal depressed, and if the
holders had attempted to force sales, there is
little doubt that the fall would have been very
great. Few persons here understand what the
Chancellor really means, but it is thought that
his regulations will not affect for.eign specu-
lations.

NEW SPECULATING COMPANIES.

COURT OF KING'S BENCH, FEB. 4.

JOSEPHS v. rrPatzE.
This was an action to recovEr certain differences sustained
by the plaintiff, in consequence of the defendant having ne-
glected to perform his contract with the plaintiff, regarding the
sale of sundry shares in the Equitable Loan Bank Company.
On the trial the Jury found for the plaintiff; subject to the
opinion of the Court as to the legality of the Company.
Mr. GURNEY was to-day heard for the defendant, and Mr.
SIARRYAT T for the plaintiff; after which the Court consulted
together.
The LORD CHIEF JUSTICE said, that it was evident the ac-
tion could-not be maintained, as the company itself was illegally
formed. The company proposed to lend money at a higher rat?.
of interest than is allowed by law, the whose 40,000 subscribers
to it must therefore conform to the regulations prescribed by the
Act of Parliament regulating pawnbrokers, or all that they did
was illegal, and no remedy for it could be had in a Court of
Law. Another objection also occurred, looking at the present
state of affairs ; " for," said his Lordship, " we cannot shut
our eyes to what is openly passing around us." It was the
duty of the Court, that the company was in direct opposition to
the statute of the Cth of Geo. 1., which was expressly passed
for the purpose of prohibiting all gaming and speculating in
public funds, and schemes. It appeared to him that the pre-
sent was an illegal association, the bargains in it were purely
gambling transactions, and in such transactions where one
man gained, it followed that another must lose ; it was, there-
fore, calculated to injure the morals of society, and ought to be
recognized in a Court of Law ; a nonsuit ought therefore to be
entered.
Mr. Justice BAYLEY delivered his opinion at great length,
to the same effect.

Mr. Justice IIOLROYD did the same.
Mr. Justice LITTLEDALE said, it appeared to him that the
object of companies of this description was to open books for
the purpose of drawing in unwary subscribers; and in pre.
suming to act as a body corporate, all their acts were illegal, it
therefore came within the meaning of the oth Geo. 1., and was
" a common grievance, prejudice, and inconvenience to a great
number of the King's subjects ;" for even the prospectus of
the company itself did not say what the object of the company
was, further than it was to lend money at 8 per cent. interest
upon its own showing, and it was therefore illegal.—Nonsuit
ordered to be entered.
Lord Chief Justice ABBOTT then delivered himself to the
following effect—" What I am about to state does not at all
refer to any point agitated in this cause, but I am very much
inclined to think, that most, if not all, of the newly proposed
companies are illegal at common law, because all transactions
in them are, in fact, bargains and bets, in anticipation of get-1
ting an Act of Parliament."
For the information of our readers—but more especially for
those in anywise concerned in Joint Stock Companies, we an-
nex the substance of the Statute 6 Geo. I. cap. 18, sect. 18:
" Whereas it is notorious that several undertakings or pro-
jects, of different kinds, have been publicly contrived, &c.—
within the City of London, &c.—which tend to the grievance,
&c. of his Majesty's subjects, in their trade, commerce, &c. &c.
" Be it enacted-.-
" That from and after the 24th June, 1720, all and every
the undertakings and attempts described as aforesaid, and afl
other public undertakings, &c. tending, &c. and all public
subscriptions, receipts, payments, assignments, &c. for fur-
thering such undertakings, &c.—and more ,particularly the
acting, or presuming to act as a corporatelbody, for raising
' transferable stocks, and transferring any shares in such stocks
' without legal autlicrfity, either by Act of Parliament or by any
charter from the Crown—shall for ever be deemed to be illegal
and void, and shall not be practised, or in anywise put in exe-
cution."
The LORD CHIEF JUSTICE said the Court could not in-
terfere.