The Sun.
London, England, 1841-02-12 00:00:00

the confiscatory law of Count Toreno, and that the
eleven years' interest had also been thrown over-
heard; or what was nearly tantamount to it; for the 551.
of Deferred Stock at 121. per cent. was not worth above
a five-pound note. Thu other privileges proffered, of
allowing the New Bonds to be taken in payment for
Church property, it was contended would work favourably
rather for the home creditor than for the foreigner. The
Spaniard, it was urged, had every advantage over the
stranger. He would be upon the spot, and could make
his selection cf properties, which must naturally be the
most choice and valuable, whether they should consist
of houses, farms, or vineyards, orange or olive groves,
or whatever other estates ; whilst it had been
proved, by the experience of the past, that,
however - full the intention of Senor Gamboa
that the foreigner should participate in the pro-
posed advantages, nothing of the sort had, up to the pre-
sent time, proved of the least benefit to him. Not a lot
was advertised in London, Paris, or Amsterdam, and the
consequence was that not a single purchaser was found out
of Spain. Thus, it is assumed, and we think most justly
assumed, that the English and foreign creditor must lock
rather to the rate of interest receivable in London and
Paris for any value that may attach to the forthcoming
new consolidated stock, than to the privilege of paying it
in, even at par, for the Church properties of Spain. Although
national and ecclesiastical estates to the value of ten mil-
lions sterling have been already sold, not a lot of them has
been available to the foreign creditor.

The Committee act well in demanding for their consti-
tuents an improved rate of interest on the unpaid coupons.
There is nothing else than this (the interest) upon which
a moment's reliance can be placed. The idea of English-
men colonising in the Spanish cities is quite preposterous.
Protestants, or even English or Irish Catholics, neither of
whom are allowed to be of the true faith, would not, espe-
cially after taking possession of the dwellinrs of a set of
bigoted Spaniards, be secure from the cuchillo for a single
night. Christian burial even was not given to an English-
man eight years ago, and we doubt whether it is down to
the present moment. These difficulties cannot surely
have escaped the vigilance of the gentlemen composing
the Committee of Bondholders.

The Committee du themselves credit in taking their
stand, as they did this day, upon the shameful conduct of
Spain with regard to the Treasury Bonds of 1836, as
given for the lint lapsed coupons under the Toreno'cor-
version. The non-payment of these bonds was a damning
infraction of a public engagement, and, until the outrage is
redressed, we can assure Senor Gamboa he will never be
able to accomplish the miracle he has undertaken to ac-
complish—the resuscitation of the fallen, the ;defunct
credit of his disgraced and frithless country.
The Committee will memorialise the Minister in terms
founded upon the view here given of their proceediugg,
for xarding their communication through General Alava
and Viscount Palmerston.

SUN.—There was more buoyancy in the public
securities to-day, and better prices were realised,
though the aggregate amount of business done was not
considerable. The favourable adviccs from Portugal
assisted the market.

Consols for present transfer have alternated from 88
to 88?,- ; and for the Account from 888 to 888, each
closing steadily. Exchequer Bills were at ss. to 7s.
pram ; and India Bonds at 11s. to 17s. discount ; Bank
Stock was at 1631 ; the New Three-and-a-Half per
Cents. brought On to 961 ; and the Reduced Three
per Cents., 881 to 8.
No improvement occurred in. the Foreign Securities,
Spanish Active Stock ranged from 231 to 24 ; Portu-
guese New Five per Cents from ail to 1 ; and Colom-
bian Stock of 1824 from 22} to 22,1 ; Mex'can Stock
of 1837 was dull at 271, and Buenos Ayres at 22;
Danish Bonds were reduced to 78 ; Dutch Two-and-a-
per Cents., were worth 491 to 8 ; and Russian were
rather lower, viz., 1131 to 114.
There were a few bargains in Railway Shares late in
the day, but without alteration in prices. Great
Western were 23 to 231 ; the New 10 to 101 ; the
Fifths 51; the Birmingham 85 ; and the South Western
188 premium. Brighton were 71 to 7i ; Greenwich
111; North Midland 26i ; and Cheltenham and Great
Western 33 dis. London Joint Stock Bank 'Shares
were 3i to 28 premium.
At a meeting of the North American Colonial Com-
mittee, a day or two since, we are informed that Lord
Mountcashel brought forward a plan for encouraging
emigration to Canada, of a novel and rather important
character, but of which the details are not yet to be
made public.

POLITICAL SUMMARY OF THE

MORNING JOURNALS.

The Morning Post adverts in the following strain to
Mr. O'Connell's letter to Mr. Ray on Lord Morpeth's
Registration Bill for Ireland :—" We presented to the
perusal of our readers yesterday a letter of Mr. O'Conaell
to a man named Ray, in Dublin, which letter is full of
real or affected exultation at the state of circumstances
produced by the proposition of Lord Morpeth's measure,
He dons not hold out any prospect of the certainty of its
passing. He has too mush care for his prophetical repu-
tation to say anything so absurd of that or any other Mi-
nisterial measure. But he is indifferent whether the Bill
succeeds or not. It it should succeed, then Radical and.
Romanist influence (which he calls ' liberty ') will be in-
creased in Ireland, If it should not, the repeal agita-
tatihn will be increased, or, as he expresses it, we aug-
ment beyond the powers of calculation, the zeal as well
as the number of the Repealers.' "
On the negotiations for a commercial treaty between
this country and France, the Times makes these re-
marks :—" The hopes which had been encouraged in this
country of an agreement between France and England on
the terms of a commercial treaty, calculated to benefit
the great interests of industry and the bulk of the popu-
lation on both sides of the Channel, have been greatly
damped by the recent discussions in the Chamber of De-
puties on the commercial tariff of France and the treaty
recently concluded between that country and the Nether-
lands. The French Liberals exult in the destruction of
that aristocratic class which affords, as we think, in the
discharge of its high political duties, the best security for
the maintenance and the safe improvement of the perma-
nent interests of the country, apart from the private or
temporary interests of men of less independent fortune
and dignity. But the class which has usurped the legis-
lative power and legitimate influence which the decayed
and despised aristocracy of France never really possessed,
exhibits a degree of interested prejudice and exclusive
dealing in the great affairs of the nation, calculated to br:ng
contempt and disgust upon their deliberations.
Puseyism, or modern Popery, which we have so often
described, forms the subject of a long article in the
Chronicle, which concludes thus:—" But for the entire
Tory party, as a party, the position is rather a ridiculous
one. Its own principle is at war with its own policy. Its
hard brains and its dirty fingers are in collision. Its war-
cry is the preservation of Protestantism, and its religion is
the revival of Popery. By its unprincipledness it has
fished for the alliance of Puseyism, and Puseyism comes
into the alliance to denounce its unprincipledness. The
incongruous compound cannot long hold together ; but its
momentary existence is one of the strangest novelties of
the nineteenth century."
_ _

The Morning Advertiser draws the following striking
cmtrast :—" While the Tories parade the most acute sync.
pathy with the sufferings of the pauper population, they
deny the poor free access to the most obvious means of
alleviating their wants—the purchase of food at the cheap-
est market. The Tories are most eloquently indignant in
denouncing the severe operation of the New Poor-law ; but
they are still more indignantly eloquent in denouncing any
interference with the atrocious Corn laws, to which is
mainly attributable the great mass of pauperism and suffer-
ing which festers and mortifies through the very core of the
working population."
The Morning Herald, in denouncing the Counties
Court Bill, exclaims :—" The Constitution We stumble
at this word in contemplating the provisions of the Bill of
Mr. Fox Maule. If ' constitutional principles' mean any-
thing, and the phrase is not an empty sound, we must con-
sent to renounce dime principles before we can embrace
a plan fur reforming' the administration of justice, which-
recommends itself by their rej.:ction. The Benthamite
origin of the measure is seen in the hostile spirit which it
evinces to trial by jury—for Bentham, though eternally
inveighiug against what, in his pedantic jargon, he called
judge-made law,' was a' reformer,' anxious to destroy the
share which the people have in the administration of the
laws by means of Juries, and to transfer their powers to a
single Judge."

We regret to hear that the distemper stiil conti-
nues in John Day's stables, and in addition to the Duke of
Richmond's Cx'enlivat, whose death we mentioned in ourlast,
Lord G. Bentinck'e Nina, by Bay Middleton, cut of Lady
Emmeline, two years old, is also dead.— York Courant.
THE DUKE OF WELLINGTON.--Mlle Paris

papers cf Tuesday afford a gratifying proof of the bone-
ficiid effect produced throughout France by the dignified
and conciliatory tone adopted by the Duke of Wellington
and Sr Robert Pccl on a late occasion, in reference to the
position of that country. All the French journalists have
copied from the London papers detailed accounts of the
illness of the Duke of Wellington, and the Journal Wes
Drbats pays the following compliment to the Duke
" Wo shall not lose a moment in adding our expression of
regret to that manifested by all classes of the population of
London. The Dukc of Wellington is one of the men of
. .

Europe whose preservation is of the utmost importance for
the general tranquillity—one of these men who, from the
security which the consciousness of great militar7 renown
always inspires, have the right to speak of peace with the
utmost confidence and authority. The remembrance ofthe
noble and dignified mariner with which be recently spoke
of France adds particularly to the sincere regret which we
feel and which we now express."
The following anecdote is, we are assured,

true :—About d 0 years ago the parish of Gilerux con-
tained a very scanty population, and for three successive
years the parish clerk made no returns, at the annual visi-
tations, of the registers of either marriages, births, or bu-
rials. When the Court inquired the reason, suspecting
him of negligence in the discharge of his parochial duties,
he replied (alluding to the parishioners) that " God did
not like them, the devil did not like them, and they did
not like one another." Of this strange reply an explana-
tion was demanded. " God did not like them," said he,
" else he would take some of them to himself; the devil
did not like them, or he would do the same ; and they did
not like one another, or thcie would bo marriages and
births amongst them." It is needless to say what effect
this had on the whole Court—Cumberland Packet.
The two brothers, Michael and Patrick Wallace,
who have been committed to Newgate, charged with felo-
niously losing the ship Dryad, are the sons of Andrew
Wallace, long known as a respectable storekeeper in
Leith. Ile was, for many years, the faithful servant of
Sir Michael Shaw Stewart, father of the late baronet ;
and, from gratitude to his respected master, named his
three sons after the family of Ardgowan. This will ac-
count for such names being associated with the late crimi-
nal proceedings against the Wallaces.—Greenock Ad-
vertiser.