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London, England, 1841-06-25 00:00:00

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LONDON, FRIDAY, 3 UNE 25,_1841

CHIP for NEW ZEALAND WANTED.
The COURT of DIRECTORS of the NEW ZEA-
LAND COMPANY do hereby give NOTICE, that they
will be ready on Tuesday the 6th July next, at Three o'clock
precisely, to receive 'fenders for the hire of a Ship from 500
to 750 tons, old measurement, for the Conveyance of Cabin
Passengers and Emigrants from London to their Second Settle-
ment of Nelson, or such ether Port in the island of New Zea-
land as may be determined by the Directors. The Ship will
be required to be in readiness for the reception of Cargo, and
to be fitted for Emigrants on or before the 25th July ; and
will be despatched from London on or about the Ist Septem-
ber. Forms of Tender may be obtained on application at this
House on and after Thursday the Ist July.
The Directors do not pledge themselves to accept the lowest
Tender. By order of the Court,
F. DILLON BELL, Secretary pro tern.
New Zealand House, 24th June, 1841.

the shape of Treasury bonds, and the remainder in cash ;
and we have always thought it highly probable, as no
dividends are paid on any portion of the foreign public
debt of Spain, that the Treasury paper so with-
drawn would not be cancelled as it ought to be, but re-
issued at any price it would fetch. The Indemnity an d Trea-
sury bondholders have fancied that, in the event of a csonsider-
able multiplication of either of the two securities, the fa, I. would
become apparent by the increased dealings in it ; for -stitherto
the bonds have been in few hands and are rarely quot eel. But
v..'-at do we now hear? Treasury bonds were, it is well known,
create.-1 to cover the whole of the dividend on the Active Stock,
due Noe:Tiber Ist, 1836 (600,000/. sterling) and although
only about sa2e-half the amount was appropriated to this pur-
pose ; the immei.se residue is, we understand, nowhere to be
found, the Spanish Government affecting to know n ethirig at
all about the matter. The ex change of the coupons ire. London
was confided to Mr. Isale Lyene Goldsmid. We have c 3nsidered
that gentleman very lukewarta in the cause of the par-
ties eezclia,nging, and the purchasers of the Treasiu bonds,
for his seetne is identified with the transaction, and iv has ap
peered to
to be indispensable to the maintenance of his own
dignity as a ~'an moving in the higher circles of the financial
world, to prociCe
justice for them. We have, howaYer, not
the slightest suspie
ion that he is in any way privy to the scan-
dalous business to wil'ich we have alluded, assuming that there
is some foundation for : vhat we have heard on the subject. It
is intimated indeed, that the commissioners charged with the
Paris conversions are more _likely to be in the secret. Those
,e
of the Treasury bondholder,' rho have obtained a hint
of what is passing are sent.. ing to their bankers to
ascertain which of their Isebore bear the signature
of Court Campuzano, acting at k aris, and which have
the names of Count d' Aguilar and Mr. 12°1thnlid' as the Lon-
don Ambassador and agent, attached to te.eT ; but we pre-
sume the Spanish Government must be equal :v liable for the
one and for the other, as they will both have' t. le quadruple
guarantee of Queen, Cortes, Blendizabal (as Ministe.")'. and the
London Embassy. It will, in the meanwhile, be Pik sractory
to the parties to have Mr. Goldsmid's attestation of fieese"lll-
- of bonds brought to him for inspection, and thile
dare say he will give without hesitation. He is understood ,
to have stated a short time ago that only 150,0001. or from
that to `OO,OOO/., remained in circulation. The affair of
which we have spoken may be devoid of truth, and
the Treasury bondholders should not at once adopt
the report as a sufficient ground for throwing away
their already depreciated property, but wait for such
explanations as may be offered upon the subject. If the
Spaniards have made an admission of the fraud, it has pro-
bably been from an intolerable consciousness of their consum-
mate knavery, or from a desire to show that, although there
might be a disposition to redeem the legitimate amount of
bills (150,0001. or 200,000/.) or to discharge the interest ac-
cruing upon it, 600,000/. sterling would be a more difficult
thing to deal with. We ought to add, that the Paris marks t
has exhibited no symptom of renewed issues of the bonds in
question. On the contrary, there has been so little doing in
them, and so few to be met with, that they have not been
commonly quoted there any more than here. We would sug-
gest further, and this is a view of the case to which we call es-
pecial attention, that the rumoured abstraction of the unex-
changed bonds may be an invention originating with a set cf
scoundrels who, while our Police Magistrates, with their large
salaries, occupy themselves in the investigation of petty thefts
involving losses to individuals of a few pence or shillings only,
are permitted with impunity and without inquiry to carry on
their depredations by wholesale.
If the act imputed to the Spaniards has been really com-
mitted, it has to be seen whether it was in London or at Paris.
In either case, it is the duty of the Embassy to hunt out the
criminals concerned in it, and to prosecute them for the felony.
General Alava, the late Ambassador, always felt this Trea-
sury bond swindle as a cankerworm in his breast, and the
same discomfort awaits his successor unless it shall be re-
dressed. Villany so deliberate, so heartless, so ruinous to in-
dividuals and families, as the case presents, and in which the
Spanish Embassy is acknowledged to be deeply implicated, will
be followed up by its victims with a firmness of purpose, of
which some indication, though as yet but a faint one, has been
afforded in the columns of this Journal. 01 that the Govern-
ment at Madrid may be certain.
HERALD.—The inaugurating address to Congress of the
President of the United States may be regarded altogether as
a temperate and statesmanlike document, and very commend-
ably free from that undignified vituperation which, and parti-
cularly in respect of banking, fiscal and currency questions
commonly disfigured the addresses of General Jackson and Mr.
Van Buren. Mr. Tyler offers no decisive indication of his own
views or inclinations on the litigated point of the establishment
of another national bank. This he submits to Congress, re-
serving however his own right of confirming or repudiating
whatever decision that body may come to. Undoubtedly if rio
other rettely can be found for effectively redressing the abuses
of paper money in the United States, and for reforming
those several hundred spurious species of currencies which dis-
order all the relations of commerce, agriculture, and pro-
perty, and disgrace as welt as discredit the country in
the eyes of other nations, for almost every bank in the union
has its own distinct and peculiar circulation, the only differ-
ence in repute being the degree in which some are more
worthless and have fallen to lower rates of discount than
others, why in that case the sooner a national bank shall be
restored or decreed the better. It is quite clear that such an
institution, managed with ordinary skill, prudence. and inte-
grity, and placed beyond the possibility of control of such
slashing financiers as Mr. Biddle, and rigorously restricted to a
paper circulation convertible into specie at will, might operate
very wholesome changes in the economical fortunes of the re-
public, and not the least beneficial of these changes would be
that it would necessarily sweep off into one common insolvency
and by scores at once, that detestable swarm of bankrupt
state banks by which the whole community in their individual,
and also in their State capacity, are daily swindled and their
substance devoured.
Mr. Tyler (the President) appears fully alive to the devas-
tations which these locust State Banks have worked, and are
still working, and therefore he enforces the " necessity which
exists for adopting some suitable measure whereby the un-
limited creation of Banks by the States may be corrected in
future." To such a measure the States themselves must how-
ever be consenting parties. for any attempted interference of
the Federal Government alone would assuredly be repudiated
indignantly as an unwarrantable invasion of those " State
rights," about the possible infringement of which the various
members of the Federation are so jealous and value so highly.
The President himself of course was perfectly cognisant of
these facts, for he suggests that such a " result can be most
readily achieved by th consent of the States to be expressed
in the form of a compact among themselves," to be carried out
with the sanction of the Federal Government, without which
it could not be completed.

SPIRIT Of the PUBLIC
FROM THE MORNING WE" OF THIS
"Y.
I
C H RO NIC LE. Our Tory Contev;Porarics, after e.?MPtl:tirr
ing bitterly that the name of her Milel'tY
iSna'ffe;titfill t:ct
prospects in the coming JOU RNALS.
contest, and rept:'e r n
po-
as a culpable association of her name with thet.... theirercen''ss°'
litical partisanship, very ingeniously .suggest that own
eardidates and canvassers should enifiloy her Majestrs came
for the production of equal advantage to the Tory caub
Were it not for the earnestness and diligence of the f,ction is
all kinds of falsehood, this sugges:ion night be taken for
what is commonly called a quiz. But Tory lying is no
joke. It is the every-day hard work of writers and
speakers. And the more desperate the falsehood, the better
it accords with the desperate and final plunge for power
which Toryism is now making. For it is seen well enough
that usless immediate success be obtained, at what:-
ever cost. the sordid bond that holds together the present hete-
rogeneous oppo!ition is utterly dissolved. The Queen is with
the people, and for the people. That is the plain matter of
fact. If the people will support her, she will stand by them
in promoting "the trade and industry of the country," and in
providing for the public service " in the manner least burden-
some to the community ;" and if nut, not ; simply because in
that case she will have been deprived by themselves of the
power to aid them. That the ease stands thus, would be
enough for any Tory who regarded truth; it is nevertheless
very uwatisfactory to the organs of the party. But they
must pay the penalty of their conduct. Had they not been
against the people, the Queen could not now have bean against
them to any formidable purpose. Had they not been for
fresh taxation, her Alajesty could not have appealed
from them • to the nation to know whether it
preferred more taxation to the abolition of monopoly.
Libellers of her Majesty, as many of the party have continually
been, they cannot jut at this moment seriously affirm, with
the hope of evidence, that the Queen is desirous of additional
taxes, that she goes to the people for fresh imposts which Par-
liament has refused to her or her Government, or that repre-
sentatives are sent back to thet; constituents because she is de-
termined, if possible, to sustain the7iread-tax undiminished,
for the temporary advantage of a class at the expense of the
community. The Royal Speech is too plain, though their im-
pudence may not be too squeamish, fir such glaring falsifies..
tions. The Queen need not have spoken that speech ; the
vote of want of confidence had liberated her from all imaginary
compulsion of official etiquette; it was a personal and volun-
tary identification of herself with the people's cause; and no
political mystification can sever the holy alliance of Queen and
country. It is our rallying cry for the hustings ; and may
Heaven, for the sake of the toiling millions, " send her victo-
rious."

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TIMES.— When England has a Government again, and the
relations of this empire with foreign countries and with its oe n
vast dependencies once more feel the guidance of that " steady
policy" to which her Majesty's gracious speech has recently
directed the hopes of her subjects, it will be discovered that
refractory convicts working the vessel of the state under jury-
masts until they shall have reached the penal colony far which
they are bound are not the fittest. crew to pilot the national
ship And to man her s uns. The vigilance of a Minister whose
attention is distracted by the pressing cares of sticking to his
place in the teeth of Parliament, and to his seat in the teeth of
his constituents, is not likely to keep the most effectual watch
at the very time when foreign Powers, in those happy coun-
tries where votes of censure and contested elections are un-
known, are naturally availing themselves of the relaxed
and uncertain state of our national policy during the
Ministerial interregnum. We know no whether the
sudden display of boldness and vigour which was in
preparation about twelvemonths ago has been warranted by
the necessity of the occasion or the magnitude of our suc-
cess ; but it is perfectly obvious that if necess ties of tenfold
importance were to arise at this conjuncture in our affairs,
there is no Government at all in the country able to meet them
by a course of action, which all the promptitude of the gallant
candidate for Marylebone would hardly bring to an issue kefore
the period at which the Ministers have themselves admitted
that patronage and power will have passed into other hands.
The consequence is, that the influence we were sup-
posed to have acquired in the Levant last year will have
been lost before the sun has gone round the zodiac ; and in
presence of these permanent designs, which are tenaciously
adhered to by Powers gifted with patience enough to await
the extinction of our outlived energy and our eccentric tri-
umphs, the policy of England is so intermittent and embar-
rassed by the unconstitutional attempt to govern the country by a
minority, that we cannot hopeto interpose any real opposition to
such undertakings as the artifices of Russia, the inaptitude of
the Porte. the intrigues of France, or the obstinacy of Mehe-
met Ali may set on foot. This state of things, which is bad
enough in itself, is made wort& by the comparative independ-
ence of action which it confers on our strange Ambassador at
Constantinople, and his agents, who now lord it in Syria.
ADVERTISER.—It is certainly a matter of the first hr.-
portance, that the constituencies of the United Kingdom should
ponder well and deliberately on the respective merits of the
several candidates who may present themselves for their suf-
frages in the present election.' In few, lamentably few, in-
stances, need it he expected that candidates will present them-
selves qualified in all respects to give faithful and effective
representation to the sentiments of the electoral body. The
course, therefore, for the latter to pursue, when they cannot
find as good a representative as they could wish, is evidently to
select the best of those who claim their confidence. A portion
of the Chartists, however—a portion fortunately becoming
small by degrees, and miserably less—appear resolved to pur-
sue an opposite course, and when they cannot find a candidata
cut out in exact precision to their own views, propose to sup-
Fort the worst of those who solicit their sweet voices. It is
on this insen, te. conduct of those who vaunt themselves
the elect a of freedom, that the Tories base
their chief Lope cif triumphing over the public interests.
For our own part., being anxious Only.for the best men to win,
we would recommend that the candidates be chosen by the ap-
plication of a sliding scale, and let him found to stand highest
in the public confidence have the undivided voice of the Liberal
electors. The Chartist who, influenced by a different and per-
verse feeling, gives his vote to a Tory, is guilty of an act of
political suicide for which no plea nor palliation can be alleged
in excuse, save that of temporary insanity. It is not our in-
tcnion to plead the cause of the Whigs, and wherever better
men present themselves these men shall have our support ; but
are the Tories better men ? This is the question. Are the
men whose Hie h .s been passed in continual opposition to the
claims of the people, better than they who have always advo-
cated at least a gradual concession of these claims, and against
whom the chief accusation is a too great tendency to conciliate
the very men to whom the suicidal Chartist would, in his
most stupid infatuation, now give a preference ? Before we
discard the Whigs, let us be prepared with better men to
supply their places ; but above all things, let not the represen-
tation be abandoned to the Tories.
POST.—Though we do not believe that Lord John Rus-
sell has anything like a good chance of getting into Parlia-
ment for the City, and do believe, on the contrary, that he
stands a very good chance of being, even among the Radie.el
candidates tic lowest but one upon the poll, we are sti.l Sue
prised that so many men of fair character are willing to give
him a vote. People talk of the political " pluck " of the mate
and really; if it were a genuine thing, We should be as willing
as any one else to give him credit for it. But surely, there is
some difference, and very important difference too, between
Lord J. Russ 41's conduct and that stout English persever-
ance, which is described by the short word we have quoted.
There is no quality more respectable than that of cheerful
constancy to a settled purpose, in spite of checks, and rebuffs.
and all sorts of ill fortune, but we cannot find this quality
in Lord John Russell. Instead of that quality, we find a
careless impudence —a complete insensibility to shame,
which is no more genuine English
" pluck " than the
material . of Brummagem jewellery is honest gold
and silver. Now it is really humiliating and disgraceful to end
men of decent character
going about and trying to persuade
people to rote fir this Russell as a friend cf the people, and of
that noble thing British liberty. We defy any of these men—
and that they are, at least some of them, clever men in t'oeir
way, no one can deny—we say we defy any of them to point
out a single instance in whick this Russell has exhibited gene-
rous or manly feeling towards the people. We defy any one
to point out, either in his dull books or in his political ha-
rangues, the evidence of the possession of a single generous
sentiment in public matters, or of the slightest sympathy with
the comforts of the common people. No such thing is to be
found, but on the contrary a cold supercilious contempt of all
homely and kindly feeling, and a preference for certain theo-
ries, which are indeed frnught with the affectation of political
learning, but which treat the mass of the people as if they
we're stocks and stones, or mathematical lines, to be regarded
by a public man as the insensible elements of abstract science

SUN.—The Stock Market to-day wore a firm appearance, and
before the close of bulness prices assumed rather an upward
tendency. On the whole, however, the operations were not
of importance, being restricted in some measure by the scar-
city of Stock. Consols were marked 89} till the close of
busine,s, when they advanced to 89i ; Exchequer Bills were
6 to 9 premium, a trifling improvement; the Reduced Three-
and-a- Half per Cents. realised 98i to 985 ; and the Three per
Cents. 89i to 895. There were no bargains in either Bank
or India Stock.

The Foreign Market relapsed into its previous state of dull-
ness, but there WM no decline in prices. Spanish Active
Bonds brought 228; Mexican rose to 27i to ; Chilian were
steady at 61 ; Belgian touched 1008 ; and the Dutch Five per
Cods. were again at 100 to 993.
Shares were more dealt in, and some of them being pressed
on the market, gave way slightly. The more current rates
were these :—London and Birmingham, 69; ditto New 224 ;
York and North Midland, 21 ; South Western, 158 ; and
Great Western, .24q premium. Brighton were sa ; Black-
wall 7 to 88 ; Croydon, ; South Eastern, 18i ; 111idland
Counties, 11 ; Northern and Eastern, 108 ; and Manchester
and Leeds New, 9 discount. Midland Counties Quarter
Shares were 68 ; and Eastern Counties Debenture• 28 prem.
London and Westminister Bank Shares were l premium ; and
Combre Copper Company 28 discount.

MONEY MARKET and CITY NEWS.

FROM THE MORNING PAPERS OF THIS DAY.

TIMES.—The adjourned meeting of the British Iron Com-
pany, which took place to-day, seems to have led to no more
,atisfactory result than the one that preceded it, but the time
was consumed in violent discussion between the two parties
into which the greater number of proprietors appear to be
divided. The affair, according to its present aspect, does net
at all seem to tend towards a settlement.; and if we may judge
from hints thrown out in the course of the proceedings by some
of the dissentients, another period of litigation is probably
near at hand.

The Oriental Steam Navigation Company is carrying into
effect tome improvements in the communication with the Le-
vant, Egypt, and India, which are the result of a mission to
the East of one of the Directors, for the purpose of obtaining
information. By the improved arrangements, it seems the
line of steam communication to Alexandria is to be every
15 days, instead of once a month, while the means of transit
through Egypt are to be further extended. Besides the iron
steamer " Lotus," which is 00W plying on the Nile to convey
passengers between Atfe and Cairo, and alarge iron track-boat
which has been placed in the Mahmoudie Canal, and conve3s
the passengers between Alexandria and Atfe, a double route
is to be established through Egypt for passengers to and from
India. On the Nile two steamers are to ply, one to be sta-
tioned at Boulac (the port of Cairo) arid one at Atfe, where
the Mahmoudie Canal joins the Nile. The steamer at Boulae
is to be in readiness to convey thepassengers coming from India
down the Nile, and the one at Atfe to convey those for India
up the Nile. The latter, after landing the passengers at. Bou-
lac, and remaining a day or two for the convenience of
travellers, is to proceed up the Nile as far as Thebes,
halting at the principal places. A regular conveyance is tube
established between Thebes and Cosseir on the lied Sea, as
well as between Cairo and Suez. The distance between Cos-
seir and Ghenneh, on the Nile, near Thebes, is about 100
miles, and that between Suez and Cairo 84 miles. The steamers
ready
through
yers
runninEgyptg between Suez and India are to touch regularly, both
on their passage to and from India, at Cosseir, for tthoe purpose
i
of landing such passengers as may prefer a route home by
Upper,, ar dEtgoy
duringp
India.
n,
tdohi rao
plague .e 4 n- bp
laiasr
ot
cfhol our sde,:pdwa
passing
gtravellers are
in he evae
new arrangements.
The improvements in the Levant communication are to be
most important. Every 15 days a line of large steamers
are to start from Malta for Athens, Smyrna, the Dardanelles,
Constantinople, Sinope, Samsoun, and 'I ribisond, returning to
Malta by the same route, the days of departure from and
arrival at Malta being so arranged as to coincide with those of
the vessels on the main line between England and Alexandria.
A return has been published by.the House of COmmons,
giving the revenue and expenditure of Jamaica for 1838 and
1839. In 1838, the revenue was 162,2831. sterling, and the
b.
sed been detected. Seeing the
i
in relation to the " expenditure 155,1521. sterling; 1839, the revenue was
166,5761. 13s. 10d. and the expenditure 109,423/. Os. Ild.
The number of slaves, according to the last registration in
1832, amounted to 311,692.
POST.—It is said that another infamous fraud connected
daringwit
vti
Spanish
ia ny that had
fina finances has just
been
practised
Ac-
tive Debt," or the thing so miscalled, the holders of the In-
demnity and Treasury bonds must. have been in constant ap-
Ireiwmixed nlieistea same
operations"g at
haveexpensewthe
should be also tried.
Certain taken place from time to
time, the Spaniards obtaining, under special private arrange-
ments with different capitalists, loans for short periods, part in