The Sun.
London, England, 1824-04-24 00:00:00

.LONDON LIQUItNALS.

DAILY

tarae!i from the Meriting Papers, April 24.

DIORN INC CIIP.ONIgi E.]

The- important consequences which must at,
:and the result_ of the present attempt, on the
part of those who' are deeply interested in West
in property, to form a Joint Stock Company,
fOr, the purposes of receiving consignments of
West India produce-, and of lending money On
West India mortgages, are becoming daily wore
nounifest-to the mercantile classes of the City. of
London,. for the success of this Company can
unly be attended by the formation. of a mono.'
poly, which must prove ruinous to ,all receivers
vtoonsignments of Westiodia productions in the
United Kingdom ; and, should, this attempt
prove abortive hereafter, as most undoubtedly it
will, the losses and difficolties at present expe-
rienced by what is 011e:t1•the West India lute-,
rest, will be removed irom those who, from past
profits, are alone legitimately entitled to bear
them,. to unsuspecting individuals, 'who have
oever reaved any advantage's from the West
_lndia trade when it was prospercrus, and who
never would have been admitted into it, had its
future prospects been more favourable than its
effects are calamitous at the present mo-
ment. -- Surely some suspicions ought to hang
over the formation of a CorEpany, recommended
by the great West India Agents, to whose future
trade the success of this Joint Stock Speculation
must prove ruinous,' and before individuals em-
bark their property, and the future welfare of
their families in an undertaking of this descrip-
tion, they ought, at all events, to desire to have
some sound and solid reasons from the half of the
DirectorS, for their abandonment of a trade
which promises such mighty advantages to this
Association, which is to be their•successor. The
want of capital cannot be urged, for so long as
the trade was good,. it was supported by abun-
dance of- :mild that too at a time when
three times:the,Capital, now requisite, was re-
quired successfully to supply all Europe with
West peodnetions. The price of -Rums
Low is 11. 4d. trV is. Bd., per gallon ; the

advances required for consignMents are far
above 'value of their commissions; the
trade remains amongst the present •West India
agents , only, because a vast capital is sunk in
West India mortgages, and it is well known
that the West India merchants are perfectly
satisfied to 'resign either to an individual, or to
a Joint Stock Company, that portion of their
trade on which these advances are heaviest. No
regular trade. will be surrendered to this Joint
Company, nor is it possible to conceive that any
merchant will hand, over to it an agency of re-

gular consignments on which the advances are
within the value of the property lodged for se-

curity. In the present uncertain state of the
West India estates, and of the property of Chris-
tians in human beings, may, however, be found
the real cause of a West India monopoly. In '
consideration of the repayment of money ad-
vanced on West India property, the consignees
of West India produce are perfectly ready to
resign any agenCy which is not in any degree
equal to the chances which they now run of
never receiving the capital which they have
Nested, and consequently that part of their
trade which is bad or aoubtful, they with
pleasure will hand over to this new mono-
poly. It is understood that all the shares •
are already disposed of by the original projectors
of this society, but a vast portion of them are
way meant for a re-sale in the market, with a
-view to immediate profit. Beyond the original
subscribers, however, it will be difficult. to find
capitalists who will become willingly proprietors
9f a society, the first of whose operations will be
to Pay up the mortgages, which eminent West
India agents possess on West India estates, and
vthich they part with because the risk is much
greater than the profits, and to take the chances
of los4es which- individuals are unwilling to en-.
counter-,-a hopeful prospect, this is, indeed, to a
company, whose interests are to be attended to
weDirectors, reaping annual salaries for their
ekly attendance at the honourable Board, as,
go doubt, their round table still be denominated.

[MORNING POST.]
•
Some of our contemporaries. have .exulted so
extravagantly at the verdict against the Bank of
England on Wednesday last, that a stranger might
well suppose the impartial administration of jus-
tice in this country an event of singular occur-
rence. It is also made a wonder that 'the Chief
Justice declared the Directors of the Bank of
England did not act for the public, but for the
Bank Proprietors, and by implication we-are in-
formed, or at least given to understand, that
the nature of the verdict ought to be ascribed
to this distinction. - Does it then necessarily
follow, because the defendants in a cause repre-
sent the public, tbat the plaintiff can have no
justice before the tribunals of a free nation ?
Nay, is it so uncommon a thing for the Go-
vernment, when the immediate prosecutor, to be
defeated, as to render'it a matter of astonishment
that the silly, and popular error of imagining the
Bank of Eagkind.to be-identified with the State,
should be corrected by the Chief Justice of the.
Ring's Bench . In.. truth, however, the action
which has produced such -miraculous effects upon
the wiseacres of the Press, partook, in every
sense, of the nature and consequences of a suit
between private parties, and in that simple and
common-sense light it was received by the
Court. As the Chief Justice observed, the
sole question was whether the Bank of ling_
]band bad taken more time than was absolutely
necessary in ascertaining the correctness of the
Power of Attorney for transferring stock,
and if so to what amount the Directors were
liable for the loss incurred by such superfluous
delay—but by no means (the first point having
been decided in 'tile affirmative) whether they
were bound to compenSate for the injury done to.
the Plaintiff. ' The latter in short ,was not once
at issue throughodt the proceeang,bufwas taken
for granted ; and therefore th'eJury found solely
upon the other grounds already stated. For our

own part. we.linow not. what object could be in
scent forholding-up the case or the result as remark-
able. The impartial administration of justice is not
we.believe singular in this country ; and although
we might understand how an improper charge
from the Bench, or an irregular verdict from the
-Jury, should be made themes for animadversion,
we really are at a loss to imagine how a matter of
every-day occurrence should be blazoned about
as a phenomenon, unless for want of 44 metal
more attractive," to enlighten the Public.

[THE TIMES.]
We received, in the course of yesterday, the
French evening-and morning papers of Wednes-
day, as likewise letters from Paris of the same
(late. The former contain no interesting intelli-
gence : the information which we derive from
the latter deserves considerable atteen. It
haisexcited ()Teat surprise in France that M. de
Villele should have been out-voted in his pro-
position with respect to the commencement
of the dischssion on his new financial project,
and that the suggestion of M. de Labour-
donnaye, the leader of the Ultra opposition,
which, had the effect of postponing it from
Thursday to Saturday, should have been adopt-
.ed, notwithstanding the urgent reasons advanced
by the Minister for a more early decision. The
temper of the Chamber, thus manifested with
respect to the time of the debate, has created
-considerable anxiety with respect to its result.
in the Chamber of Deputies there are no less
than c,25 emigrants, and 350 nobles, out of a list
of 460 members ; and the proportion of such
men in the Upper House-is still greater. These
punctilious and consistent gentlemen, who ever
since the restoration have been constantly call-
ing for an indemity,.and for whom M. de Villele
intended the million and a quarter sterling which
he is to save by a reduction of the Rentes, have
been consulting about the propriety of opposing
the project, and refusing the boon of their be-
nefactor, as the result of a spoliation indicted on
the small annuitant by a combination of foreign
bankers. In consequence of a union thus effected
between the pride of the Ultras and discontents
of the popular party, the influence of M. de Villele
has never been in more imminent peril since his
accession to office. Embarrassed by the resist-
ance offered to . their domestic measures, the
French Cabinet are not less so respecting their
foreign policy. The questions respecting the
tranquillity of Spain, and the independence of
the Spanish colonies—the difficulty of keeping
on good terms with England, and obeying the
dictates of good sense, while they remain sub-
missive to the views and are propelled by the fa-
natic folly of the Holy Alliance, afford sufficient
employment foi all their talents and dexterity,
though they had neither to manage the Stock
Echange nor the Emigrant saloons.