The Sun.
London, England, 1824-04-28 00:00:00

[NEW' T1A111.3.]

Yesterday afternoon an improvement of one
half per cent. took place in Consols. To account
for this sudden advance, it was asserted that se-
veral leading speculators had purchased, in con-
sequence of the strong assurances from Paris that
the project of the French Minister of Finance
was likely to meet with little obstruction. As far
as we could ascertain, however, it did not appear
that any later intelligence from France had been
received in the City than to Saturday evening.
The price of Consols had previously been at 961,
and- at the close was 961 i; and we understand
they were subsequently done at 97 for the Ac-
count. Foreign Securities support their prices,
and indeed they rather improved yesterday ;
while some of the lately introduced projects were
on the decline, the public frenzy having
in a slight degree subsided ; still there exists
much inquiry as to those about to be in-,
troduced. A Loan to any Government (no
matter what) where Bonds are issued, ap-
pears to meet with greater success titan shares of
a. Company for any specific purpose. The Bra-
zilian Loan is looked forward to with much in.
terest ; hut we understattil the proposals of the
parties bidding will not be received until Mon-
day next ; and that it. will bear five instead of six
per cent. interest ; there is a strong competition
amongst several houses who are desirous of be-
coming the:Contractors, and as it is to given to
the best bidder, a high price is expected to be
obtained.—Spanish Bonds of 1821 were done
yesterday at 17,1, and those of 1823 at 154.
oolombian Bonds are steady at 94, and the Scrip
at 41 premium. Mexican 11 premium.--The
Shares of the Alliance Company are 161 17,
and the Irish Equitable Loan 21 3 premium.

[MORNING POST.]
It is in the recollection of our readers, that
two years ago a tax of 10 per cent. was imposed
on the salaries of public Functionaries, including
the income of our august Monarch himself. It
will also be recollected that this reduction was
made on, the following grounds :—First, as a
means of relieving the distresses of the country,
-which, then, with regard to the agricultural
classes, sere certainly most severe ; and, se-
condly, because the low price of all the necessa-
ries of life rendered- the smaller income equiva-
lent' to the larger income when prices were
higher. • -Is it not apparent, therefore, on the
mere statement of the case., that the arrange-
ment %vas intended to be temporary; and as

peculiar circumstances had suggested its 'adop-
tion, that opposite circumstances would dictate
an opposite line of policy ? Now, in our
opinion, such a change has already taken
place as will justify, at no distant period, a
remission of the above Centage. In the first
place, distress has completely vanished from all
branches of industry; and in the next, there has
been for several months a progressive, and we
are convinced, a permanent rise in the price of
all articles of consumption, accompanied by an
equal fall in the value of money. Our readers
will perceive, however, that by the latter we do
not mean the corresponding depression in the
value of currency proportionate to the enhance-
ment of what it is employed to purchase ; but
we contend that both the demand for the neces-
saries of life has greatly increased, and the power
of money to obtai❑ those necessaries greatly de-
clined i❑ consequence of the vast accumulation of
capital throughout the country. The lower the in-
terest of money, the more of it is required, as an
equivalent for commodities ; and we know beyond
dispute, that capital for 1.2 months past has been an
absolute drug in the market. Ca►► it be fair or
politic, in such a state of things, to continue a tax
which originated in the very reverse, and never
would have existed but for the difficulties of the
nation at a time that money was scarce and ar-
ticles of consumption plenty—the one high in
price, the other low ? We shall not nevertheless
press the subject further on the attention of the
public at present, but we certainly intend to bear
it constantly i❑ mind, with the hope of seeing
justice done to all the Functionaries in the State.