The Sun.
London, England, 1824-05-21 00:00:00

PARTS PAPERS.

[Prom the Etoile of Wednesday.]
MADRID, MAY B.—All the accounts from
America are extracted from the French and Eng-
lish Journals, except the following :
" We have news direct from St. Juan d'inloa.
More succour' had been sent from the Ilavan-
nah than was required. The Commandant Le-
maur gave great satisfaction by his conduct as a
soldier,, and his behaviour with respect to those
Powers who Are in amity with Spain. No ap--
prehensions are entertained for St. Juan d'Ulloa.
MAY 11.—The Gazette published a circular
letter from the Supreme Council of War, on the
manner of levying the 35,000 men of the per-
manent army. It is observed, that the soldiers
will have only six years to serve instead of eight,_
as fixed by the decree of the sth and 19th of
April. It is also remarked, that above 100,000
men of the regular army, and of the constitu-
tional militia, have returned to their homes.—
. This Gazette contains no news from America hitt
such as. are already known.
May 12.—Viscount Digeon has arrived here,
and has taken the command of the auxiliary
army of occupation. Ile dined yesterday with
General Quesada, the Governor of Madrid.
PA ass, MAY 18.—A person who has just re-
ceived a letter from Greece, from a certain cor-
respondent worthy of credit, has had the com-
plaisance to communicate to us the following
particulars-:
" M. Edward Blaquiere has just brought to
the Greek Congress the sum of 50,0001. sterling,
proceeding from the sale of the first part of the
Greek loan, opened at London.

" It is-false that Colocotroni has been brought
to trial, as the Austrian Observer pretends. lie
was living in retirement at Tripolizza like 'a.
private person. It is the old Bey of the Mai-
notes, Peter Mauromichaelis, who has been called
before a court-martial, and acquitted of the
charges laid against him.
" On the Ist of April, Nicetas, the nephew
of Colocotroni, left the Pelopoune.us with 3,000
men, to advance to the Thermopylae, to cover
the siege of Negropont, now carrying on by
Odysseus" . _

[From the Courirr Franeois of Tursda!„.l
PARIS, MAY 17.—1 f we were surprised at the
term rash and .baffled enterprise, applied the day
before yesterday, by the Journal des Debuts to the
attempt of Don Miguel, we were still more sa yes-
terday, to find it stating," that a premature judg-
ment ought not to be prononnced on this mea-
sure ; that the Infant could not certainly have
acted under such circumstances, but from rea-
sons which require to be better known to be pro.
perly appreciated." It seems that- the Journal
des Debuts has said quite enough to justify the
opinion that the Infant Don Miguel acted con-
trary to the will of the Ring—a circumstance
on which a Monarchical Journal should not be
afraid to give a hasty judgment ; but even if this
fact should not be established, does not the
Prince's Proclamation contain these words—"
will complete the great work I have began, by
destroying the pestilential sect of Freemasons.
Perish the infamous Freemasons !" It is there-
fore an extermination en masse which is here re-
solved' on. Now, we ask, what reasons can be
given for such a terrible resolution ; or can there
be two modes of appreciating it ?

'l'il E LONDON JOURNALS.

DAILY

Extracts from the Morning Papers, May 21.

[MORNING POST.]

The first Court of the present year was held
yesterday, and his Majesty had an opportunity
of judging, by the immense number of Nobility
and Gentry who assembled to present their ho-
mage to their Sovereign, of the interest taken in
tiis -health and welfare, and of the sentiments of
affection generally entertained towards his per-
ton. He must have been highly gratified at see-
ing„ that in this flow of loyalty z)I1 distinctions of
party had disappeared, and that the Opposi-
tion Peer apd Commoner pressed round the Throne
with as much anxiety and zeal as the staunchest
supporter of Ministers. Indeed, the liberal
system Of Government lately adopted has
left of the Opposition nothing but the memory
anti the name. The era of unanimity seems to
have arrived, and never was the country more
grateful for the. advantages which it enjoys, or
more sensible that it owes them to a wise course
of, administration, and to the paternal solicitude
of a Patriot King. Had his Majesty been able
to glance beyond the crowded halls of his palace,
he would have seen that the same feeling which
collected the rank, wealth, and chivalry of
the land within, animated the countless multi-
tudes without. Never was the affluence of his
subjects greater, and never did they wear coun-
tenances more in unison with the spirit of the
clay. Every street in the line of communica-
tion with the Royal Palace presented a most
interesting spectacle. Filled with superb coursers
and magnificent equipages, loaded with rank and
beauty—rendered almost impassible by thousands
stationed on the pavement to witness the splen-
dour of the scene, and to form themselves one of
its most pleasing ornaments—their houses dis-
played on their balconies and windows, tier above
tier, rows of lovely females in elegant attire,
whilst joyous loyalty brightly beamed in every
countenance. The fineness of the weather added
to the gaiety* of the scene, but did not inspire it;
for it did not proceed from fortuitous circum-
stances, but from contented minds and loyal
hearts.

[atimsll ',fuss.]
• Many persons saw, in the Chancellor of the
Exchequer's measure for paying off the dissentient
Four per Cent. Stockholders, nothing short of a
violation of the Sinking Fund, and an alarming
injury to public credit. It was the privilege of a
few to view it in its true light, and to perceive in
it one of the ablest financial measures; it was only
to be regretted that it would not operate upon a
scale of greater extent. In our opinion, so far
from violating the Sinking Fund, it actually
effects a redemption of debt by the most faithful
application of that fund ; it actually redeems
debt, to the utmost extent of the money applied,
and upon the most advantageous terms for the
public. The seven millions of money, in pay-
ing off four per cents. at par—that is, in discharg-
ing an annuity of 41. by means of 1,00/. paid, ac-
tually in practical effect discharges an annuity of
3/. by means of 751. paid ; therefore, in truth, the
seven millions will,as it were, buy up 3 per cents.
at 751. per cent. instead of buying them in the
market (as Nl,,ould be the case if the measure
were not adopted) at 96 per cent. and at still
higher prices, aseording to the advance in the
price of 3 per cents. to par, which is expected
soon by all intelligent persons in the city. Seven
millions of money will thus discharge an annuity
of 280,0001. ; but if the seven millions were to
be. laid out in 3 per cents. in the market in the
eighteen months succeeding October next, the
;very laying out of such money in the market
would certainly raise the 3 per cents. to par ;
:the 7,000,0001. would only, in such case, dis-
,charge the annuity of 210,0001. Thus a sav-
ing is accomplished of 70,0001. per annum.—
As to its injuring public credit, those who,
not perceiving the efficacy of the measure,
thought proper to sell stock on speculation,
and who actually occasioned a fall of a frac-
tion per cent., if. they sold to any extent, will
by their losses experience an incontestible proof
of the unAniken stability of public credit. A
gradual advance must take place in the English
Funds • (political circumstances remaining the
same), both on account of the mass of capital
that will be:disengaged by the very measure
in question,. which, after casting about in vain
-for more secure investment, will again take
shelter in the best of all securities, the Eng-
lish National Debt ; and on account of
the increasing_ ratio in which capital im-
proves and is accumulated in this opulent and
commercial country. The evidence of the
astonishing increase of capital in this country
was seen in the latter years of the war. In
1.811 the gross' receipt of money into the Exche-
quer was about 90 millions ; in 13157 an interval
of only four years, it had reached 131 millions ;
we have, since seen every Foreign State contract
loans by means of English capital : nevertheless,
we see public works and new companies absorb-
ing masses of the same capital ; our merchants
extending their Enterprise to the most distant re-
gions ; and yet such is the Progress of accumula-
public. funds are the favourite
tion, that ih
resource of investment, although yielding little
more than 3 per cent. for mon9.y.!lnder these cir-
cnmstances,we have read with Peculiar satisfaction
a financial paper, recently submitted to the at.,,
tention of his Majesty's Government, and to
public men, by Mr. thick wood, the design of
which is to take advantage of this redundant ca-
Oita!, and to encourage its being (ll) )loyed in ob.
jects of domestics 'ather than,foreign, investment;
and at the same tinge, to carry into execution
ether important suggestiotes.. The Stockholders
are deeply interested - in Mr. Erick wood's views,
because he contends against any further reduc-
tion of. interst,' and as it is rumoured that the
thfee per tents.- are. to he reduced to q. per
cents, he. recommends the "creation of a new
stock, to be secured 'against reduction for a
long term of yeais. lie proposes that the three
per cents. should. be 'transferred into such new
stock, and that an annual 'funding and re-
issue of Exchequer Bills should take place. fie

suggests that by such means nearly two hundred
millions of debt would be redeemed, thus coun.
teracting the loss sustained by paying 1001. for 3
per cents., for which the State received only SW.
during the war ; then, on account of this vast
redemption of debt, he proposes to supersede the
operations of the Sinking Fund in the stock
market, and consequently (among other objects)
to repeal immediately between seven and eight
millions of annual taxes. If this measure should
be found practicable, the immense advantage to
accrue from it are manifest, and would be felt by
all classes. It certainly carries weight enough
with it to demand the most mature consideration.

[MORNING HERALD.]
Tuesday's Paris Papers arrived last night.—
They are unusually barren of intelligence. The
accounts from Lisbon are of the 4th, only two
days earlier than those already received in Lon-
don. It, may be worth remarking, that the French
Ultra and Ministerial Journals justify and eu-
logize the conspiracy of the Prince Don Mi-
guel. The fact seems to be, that in Spain and
Portugal there are two parties—the moderate,
of which Count Palmella is the head at Lis-
bon—and the actual Ministry at Madrid—
and the party of despotism and the Inquisition,
They (the latter) work by concert, and have
formed the design of dethroning the two actual
Sovereigns. In Portugal a Regency would be
appointed ; but in Spain the party would set Fer-
dinand aside, and place his brother Carlos on the
throne. There is in the French papers a curious
and petty trait of intolerance. The Senator Lam-
bretchs, who died last year, bequeathed 2,000
francs, to be given by the Institute as a prize to the
Author of the best Essay on the Freedom of Iheli-
gious Worship, written within two years after his
death. M. Lambretchs, it should be observed,
was a Protestant. The bequest was subject to
the Minister of the Interior, who has directed
that the bequest should not be so applied, tiro-
chetti, the Italian, who was convicted of an at-
tempt to assassinate a Greek priest, has again
been tried, and sentenced to Death. His crime
was stabbing one of the keepers placed over him,
on the morning of his being conveyed to the gal- ,
lies.

[NEW TIMES.]
The Funds continued to decline yesterday :
Consols opened at 96, were in the course of the
day done at 95+, and closed at 954 for the pre-
sent account. The intelligence from Lisbon is
mentioned as the principal cause of this fall.—
It has certainly created an alarm among the
commercial houses connected with Portugal ;
but speaking politically, and with reference to
the general state of Europe, we think the
danger exaggerated. On the one hand, Prince
Miguel's party assert, and probably with truth,
that the Secret Societies, which, under the
titles of Freemasons, Communeros, Carbo-
nari, &c. produced the revolutions in Portugal,
Spain, and Italy, continue still to carry on their
clandestine machinations ; and that the Police in
Portugal has slumbered over its duty in not sup-
pressing these meetings. On the other hand, it
is quite clear that such an evil (supposing it to
exist) ought not to be encountered by means so
violent and revolutionary as those to which the
Prince's party resorted. It has been supposed
that the Prince meant to depose his father, and
to govern under the title of Regent ; but we
cannot find any ground for ascribing to Don
Miguel so criminal a design. His object most
probably was (and this is sufficiently culpable)
to intimidate the King into the adoption
of measures of severity against the supposed ene-
mies of the Throne. Even if any Foreign Power
coincided in the opinion that the Portuguese Go-
vernment should act more energetically than it
has done for some time past, still no reasonable
Sovereign could approve of the forcible means re-
sorted to by the Prince. These it was necessary
to repress on the instant ; and therefore the
Foreig❑ Ambassadors frost properly interfered to
stop proceedings thus vitiated in their origin;
and character. It has been erroneously supposed
that the people of Portugal originated either
the first movement or the re-action. Our infor-
mation leads us to believe that the great mass
of the people were indifferent or entire strangers
to the proceedings. The King's Government pro-
bably required some stimulus to vigilance and de-
cision ; and the Prince's party were disposed to
an intemperate and dangerous activity. The result
will perhaps be the adoption of a better and
wiser system than either ; but in the meanwhile
tranquillity appears to have been fully restored.
As a further security against any sudden con-
vulsion, it is to be observed, that three British
vessels of war remained in tl►e Tagus at the de-
parture of the packet. This force would be am-
ply sufficient to afford protection to the King and
his Ministers in a case of emergency. It was
rumoured yesterday that letters had reached town
dated on the 7th inst. bringing more satisfactory
accounts from the Portuguese Court ; but from
inquiry we have reason to believe that there are
no later ad vices than of the 6th. Another packet
or vessel may he daily expected, and it is to be
hoped wilt bring more satisfactory accounts.

[TIIE TIMES. 3 •
We are somewhat bare of facts relative to the
recent explosion at Lisbon. An explosion in-
•deed it seems to have been, in which but part of
the - gunpowder took fire, the rest has been
Smothered, (perhaps only for a while), and the
shock was therefore less decisive than was et-
pected. Enough, however, has taken place to shew
.us the extreme weakness and decay of the build-
ing which it was meant to blow up. The. Prince
and the Queen intended to deprive the King of
the exercise of the Royal authority ; and this en-
terprise, which his Majesty was not sufficiently
strong to repress himself, and tinder which lie
has to a certain degree succumbed, was Stispended
by the unarmed interposition of the Foreign Mini"
stets. Thus stands the matter represente • d to us.at
present ; and if that representation be correct,
such Foreign Ministers for spirit, energy, and in-
fluence, or such a King and Prince for the want
of those qualities, are but rarely cotemporaneous
persodages in history. Perhaps, indeed, it may have
happened that the powers of the King and
Prince were so nicely balanced, that it required

but a little additional weight on either side
to turn the scale; and upon that supposition,
none of the actors in this drama may have been
possessed of a grand character ; which, as great
men are not the ordinary productions of nature,
is, after all, the more natural supposition. The
King, it appears, has not been actually deposed
by his son and wife ; but yet he has been obliged
to issue Proclamations, approving of their acts,
and condemning to punishment those whom they
had condemned. Our Journal contains a Pro-
clamation of that nature. It is dated on the 4th
last. In this, his Majesty is made to say, that'
the Prince was " under the necessity of having
" recourse to arms," and that the el a nger of the
crisis would not allow time for him to consult
his father. A dangerous concession this, we
should think. Was not the King at the head of
the Executive Government, and would not he
have been the fittest person to put both the
Prince and the army in motion ? We know
not whether it is worth the while to notice the
various rumours in circulation yesterday. One
was, that the Prince, convinced of the im-
policy and undutifulness of his conduct by the
arguments of the Diplomatic Body, had relin-
quished the command of the army, which had been
conferred on Lord Beresford. In one of the
scanty documents this day published, the Prince
returns thanks to the army, as its Chief. And
if we doubt the fact, we are still more doubtful
of the propriety of Lord Beresford, a foreigner,
taking the command of the Portuguese troops in
a period of civil commotion. What should we
say, if a French General were to take the
command, and order the troops under him to
fire upon their countrymen ? No mercantile
letters have been received in which this point
of the Prince's resigning the command is
spoken of : and advices from Oporto dated
the 10th, are equally silent on the subject. But
that the deposition of the King was the direct
object of the plot, is asserted throughout the cor-
respondence; and it is even added that the draught
of a decree was prepared, for the dethronement of
his Majesty,and the nomination of a Regency. The
Stanmer packet which brought the presentaccounts,
together with dispatches for Government, has had
orders transmitted to Falmouth to sail again for
Lisbon with the answer and further instructions
from the English Cabinet. The Statimer would
set sail immediately on the arrival of yesterday's
letters at Falmouth. The next accounts from
Lisbon, should any thing decisive occur, will
probably come through France, by which route
►►ews can be brought by a courier in 11 days to

England.