The Sun.
London, England, 1833-03-21 00:00:00

1441
r.. .04*41,14,

LONDON,
THURSDAY EVENING, MARCH 21, 1833.

Whatever may be the complaints we have to
make of the present Ministry, the contrast their
conduct presents to that of the Tories, in the
matter of patronage, is certainly great. The
returns which are now, that Earl GREY has
been two years in power, laid before the House
of Commons, show the different spirit in which
the two parties act up to the principles of
economy they both profess. During fifteen
years of peace, the Tory Government con-
stantly resisted all propositions having a ten-
dency to reduce the enormous amount of the
half pay list, till at last, towards the end of their
domination, they were forced to adopt a rule of
promotion, which has since worked in a
very beneficial manner. But we have before
us a return made to the House on the
motion of Mr. HUME which finely illustrates
their practice, whilst they had power. This do-
cument contains an account of the number of
commissioned officers in the Royal Navy, on the
Ist of January, 1828, in each class, from Lieu-

tenants to Admirals, and shows the number
struck off from each, with cie proportions in
every year. It appears that in 1828, when we
were still governed upon Tory, that is patronage,
principles, twenty-five captains were struck off
the list from death or otherwise, but forty were
promoted. In 1829, fourteen were struck off 'he
list, but seventeen were promoted. In 1831,
however, when the new principle of governing
by the voice of the people, and not by bribery,
came in some degree into operation, eighteen
were struck off the list, and seven only pro-
moted ; and in 1832, for eighteen struck off,
only ten were promoted. The list of Com-
manders presents us with similar results. In
1828, sixty-six were struck off, and ninety-three
promoted, being an increase of twenty-seven ;
and in 1829, the increase of promotions on
deaths was eight, whilst in 1831 there was a
decrease of fifteen, and in 1832 of ten. The.
list of Lieutenants does not present the same
results, there being a uniform decrease in the
number from 1828 downwards. The reasons
for this are sufficiently obvious. Let the present
system of vigilance on the part of the represen-
tatives of the people be maintained, let Mini-
sters always have before them the account they
have to render of their stewardship, and not
only in this department, but in every other, we
are confident great savings may be effected,
without impairing the efficiency of the public
service.

The Committee on the Irish Disturbances
Bill, last night, reached the 23d clause.
Among many minor alterations were two of some
interest. The first was, that the Barristers who
are to attend the courrsmartial as Judge Advo-
cates must be of five years' standing, and the
domiciliary visits are to be softened down into
calling upon the inmates to show themselves, or,
if they be ill, to admit authorized persons to see
them. This modification has completely recon-
ciled Mr. O'CoNNELL to the clause, for he pro-
fesses to be most anxious to strengthen the
power of the law to repress Whitefootism.

The Better Observance of the Sabbath Bill
was brought in at a late hour, read a first time,
and appointed for second reading on Tuesday,
30th April.

By the Paris Papers it appears that the pistol
plot has ended, as it began, in smoke. It was a
mere flash in the pan—an intrigue hatched,
reared, and matured, by the Doctriimaires for
the purpose of enabling them to carry on their
temporizing system. 0. P. Q., whose masterly
dissection of this blundering affair will be found
in another part of The Sun, has exposed it with
his usual caustic felicity. The supposed assassins
were both declared not guilty.

German and French papers contain particulars
of the late proceedings of Russia, as regards her
proposed intervention with the affairs of Turkey.
With these particulars our readers are already
familiar.

We beg, once again, to call our readers' at-
tention to the communication of our Kilkenny
Correspondent. " In all cages," says he, " con-
nected with Whitefootism, convictions have been
had." Yet it was in this very Kilkenny that
Mr. STANLEY so pathetically bewailed the im-
possibility of obtaining convictions !

There is a letter in town from Marshal
SOLIGNAC of the same date as the last accounts
from Oporto, in which Nye details all his plans
of future operations, and states that he was
only waiting for reinforcements to gratify the
wish of the army for a general battle with the
Miguelites. The Marshal writes in excellent
spirits, and seems to have no doubt of the
result, provided the reinforcements which he had
been promised should arrive in time. Sir JOHN
MILLEY DOYLE and other officers of rank write
in the same style. We feel it proper, however
to observe, that the official accounts received by
our Government were by no means of so cheer-
ing a character.

There has been a great deal of intercourse
(luring the last two or three days between Baron
DEDEL, Prince TALLEY RA ND, and the Foreign-
office ; but we hear that the Prince is by no
means satisfied with the tone of the Dutch Go-
vernment as expressed by M. DEDEL. The
King of HOLLAND persists in his declara-
tion that he will not negotiate separately with
the British and French Cabinets. He makes
the renewal of the Conference a sine qua non.

THE FUNDS.-(THIS DAY.)

CITY, TWELVE O'CLOCK.

Up to the present time we are without arrivals either of
foreign news or ship letters. The only information of
importance is, the return of the French Admiral with his
ship from the Downs to Cherbourg, and the recall of our
squ Aron from the blockade of the Dutch coast. This is cer-
tainly a demonstration on our part of the relaxation of
severe measures against the Dutch.
- - -

The estaf-tte from Paris confirms what has been stated
for some time past, that the Powers on the Continent are
reducing their armies, which is a proof that Europe will
continue in the enjoyment of peace.
Consols opened this morning at the same price they
left off yesterday, 88k for the Account; 87k 88 for
Money, no business doing.
The Foreign Market is in the same state as that of the
British.
HALF. PAST ONE.

The meeting of the Bank Directors took place this
morning to declare the half yearly dividend on Bank
Stock, which they have declared, as usual, at Four per
Cent.

We have information, via Flanders, from Holl4nd,
that the Dutch Funds had receded per Cent, on Mon-
day, owing to our fl-et threatening again the Dutch coast;
as well as a report that Dedel would not succe-d in his
mission to our Court ; but no doubt, on their learning to
the contrary, and our fleet having been recalled,
their Funds will again improve. The Dutch steamer is
hourly expected. Up to the present time, we have no
direct information from Portugal. The Funds have been
heavy during the whole of the morning, at 88 for ac-
count, and 871 for money.
The Foreign Market is also in the same state, owing to
the fall of the Dutch Funds.
THREE O'CLOCK.
Consols for Account, 88.

CLOSING PRICES. —FOUR O'CLOCK.
Consols
Ditto for Account 88 Greek
Brazilian Bonds 63 Mexican . , —
Buenos Ayres... Peruvian ... .... -
Chili= Ditte.... Russian......, —
Columbian 1824 Spanish
The Si

'outhern Reporter of Saturday states,
that the " run for gold" has ceased in Cork. The Wa-
terford Mirror of Monday has not even an allusion to the
subject.

BANK OF ENGLAND.-(THIS DAY.)

MEETING OF THE PROPRIETORS OF
BANK-STOCK.

The half-yearly meeting. of the proprietors of bank-stock
took place ;n The court room of the Bank, c)r the purpose
of eonsid ring of a dividend for the half year, ending the
sth of April next.

The GOVER.NOIt, afrer sta:ine the nNects of the meeting,
ohserved, that the Court of Directors having considered
the state of the Bank accounts, were of opinion that a
dividend might h• made of 4 per cent. for this half year,
ending the sth of April next.

Mr. You MG wished, beore the question of a dividend
was put to the meeting, to ask the Governor the amount
of unredeemed issue of Bank-notes, and what amount hail
been a-custorned to be given under the denomination of
the amount of issues and deposits ? but he wished
a definite answer, for the purpose of giving the proprie-
tors an opportunity of knowing the state of their liabilities.
The GOVERNOR observed that the Court of Directors
had no wish for secrecy, an 1 that it rested with the Court
to decide whether, prior to the renewal of the Company's
charter, the Directors should alter the course that had
hitherto ben adopted.—(Heir ) He was, however, in
the hands of the Proprietors ; the Directors wished for no
mystery, as he thought had been clear by what had been
published, but he did not see why the Court of Directors
should take upon themselves to do that which was the
province of Parliament.
Mr. YOUNG said that he would not, after that intima-
tion, press for an answer ; but he wished to know what
the amount of the present circulation of the Bank was.
The GOVERNOR said, about eighteen millions.
Mr. YOUNG then said that he should take the liberty
of guessing the amount of deposits, which lie should con-
sider to be about eight millions, and from so large a de-
posit he inferred that the issues were far beyond the legi-
timate demands of the country. The issue was to an
extent so alarming that he was sure every considerate man
must be of opinion that it ought to be altered. It created
an improper state of the Funds, would lead to a recurrence
of foreign loans, and if any disturbances took place in the
country, the greatest evils would result. He therefore, as
a proprietor, felt called upon to deprecate so extensive an
issue, the great cause of which be could only consider to
be the extensive purchase of Exchequer Bills, of which he
should wish to know from the Governor the amount at
pr sent in the possession of the Batik.
The GOVERNOR did not consider himself justified in
answering the question without the concurrence of the
Court of Proprietors.
Mr. YOUNG would not press his question, but he
wished to know whether the amount of rests had been
ncreased or diminished during the last half year.
The GOVERNOR said there was very little difference.
A PROPRIETOR wished to know whether the dividend
which had been announced by the Governor was really
and truly a division of the profits for the current half
year, or whether it was taken from a reserved fund ?

The GOVERNOR said that it was real'y and truly the
profits of the last half year.
Mr. BLACKBURN then rose, and addressed the Court
upon a variety of topic., which, being irrelevant to the
qnestion of dividend, he %%ma called to order.

The CHAIRMAN then put the question, that a dividend
of 4 per cent. per annum on the profits be declared for
the next half-year, ending the sth of April next, which
was agreed to.
Mr. WEEDING reminded the Court, that it was essen-
tially desirable that the Company should stand well in the
good opinion of the empire. In so thinking, be would
refer to the evidence given before the Committee appointed
to inquire into the B ink Charter, and to the three points
to which the Committee had stated in their report, they
hail directed their attention. The first was, whether it was
expedient to have one Bank for issues, and if so, whether it
was necessary to continue all the privileges now possessed
by the Bank of England. These two questions, he
thought, had been satistaztorily answered in the affirma-
tive, by the evidence given before the Committee.—(Hear,
hear.) Then, was it necessary that the public should
have any better security as a check upon the issues ? In
considering that question, he thought it must be taken
as a general rule, that those who is-ued paper should at
all times be able to exchange it for gold.—(Hear.) An-
other question was as to the present mode of electing the
Directors of the Company. He entertained a great
respect for the Members of the Direction, but he thought
it would be more satisfactory to the public, if an alteration
was made in the present mode by which they were elected.
He had no objection to what was called a house list ; but he
did object that, if any Director died or resigned, the other
Directors should fill up the. vacancy, and then call on the
proprietors to vote for it. It would only he fair towards
the general constituents of the Bank of England to put
the election in them. There were around the Chairman
so many men of wealth and station and character, which
would rinder it unnecessary that any one should resort to
a personal canvass and solicitation. There was another
question also regarding the Court of Directors. In the
management of that body they always appointed the se-
nior Director to the chair, which, in his opinion, was a
very bad rule ; for it might happen—and lie said it with
great respect for all the gentlemen sit that body—that the
greatest drone among then might fill the important situa-
tion of Chaim tn.—(Hear, and laughter.) That station
should be a matter of election among themselves, which
would operate as a stimulus to every, even the youngest
member, who might look forward to that honour.—
( Hear.) He entreated that, in any suggestions made by
the Court of Directors to his Maj-sty's Government,
these subjects wool.' not he lost sight in order that
they might have the Bank of England as perfect as any
human institution of the kind could be mad.'.—(Hear.)
Mr. YOUNG hoped that the instant the Direct irs bad
any communication with Government, they would call a
meeting of the proprietors, and inform them of its pur-
port, and that the Directors would not commit or pledge
themselves in any way without the previous concurrence
of the proprietors. He trusted he should have an assur-
ance to that effect, otherwise be should feel himself justi-
fied in going into propositions which be had heard were
about to he made.

The CHAIRMAN said it was impassible that any terms
could be agreed upon without the concurrence of the
Court of Proprietors.—(Hear.)
Mr. YOUNG thought that was not a distinct answer,
for there might be a sort of intimation or half answer
given by the Directors.
The CHAIRMAN said it was impossible for the Court of
Directors to do it wit:iout first coining to that Court.
Mr. YOUNG hoped it would turn out so. He wished
to know if the petition of the Court of Directors bad
been presented to Parliament?
CHAIRMAN—NO, it has not.
Mr. YOUNG—What does it pray?
CHAIRMAN—It prays merely for the continuance of
their present privileges.
Mr. YOUNG observed that a great deal had been said of
late about the extinction of their Charter, but his opinion
was, that so long as a National Debt existed, so long
would the Bank continue a Corporation. He believed
he was right in supposing that the Counsel for the Bank
was present. If right in that conjecture, he would wish
to have his opinion on the subject.
The GOVERNOR did not think it was expedient at that
moment to put any questions, as Government were about
to make some communications with respect to the charter.
He would, therefore, put it to the Court whether it would
not be better at present to leave the matter in the hands
of the Directors.

Mr. YOUNG cnn.idered that as the profits on the pay-
ment of the dividends were so small, and as the laws relating
to foreigners had been altered for a better security, it
would be requisite that when a Power of Attorney was
presented information should be at once presented to the
pay. If such a rlan were pursued there would not be
one to a hundred that now were. He only wished that
that Corporation, as a public body, would act on
the aunt-, principle as any one of the Directors
would act in his private business. The property of
the proprietors would thus be protected, and crime would
be decre ised. He would throw out as a suggestion that
it would he better to make it a rule that any person hold-
ing stock should leave his signature in the Bank.
An Hon. PROPRIETOR wished to ask a question relative
to the renewal of the Charter. He understood that it
was the case with the East India Company that a part of
the Directors were nominated to negotiate wiih the Go-
vearm followednroent
. Hbey
thatw wished
corporationhedtokno ?w whether that practice
w
The GOVERNOR said he presumed that the Government
would make a communication to the Directors generally;
but the usual course was that all communications with
Government were carried on by the Governor and Deputy-
Governor, who again reported it to the Court of Directors.
In answer to an HON. PROPRIETOR the GOVERNOR
said that as regarded tie transfer of Stock it had not been
altered.

An Hort. PRONLIETOII said, that as the present WAS a
time when very important discussions were likely to come
on, he could see that there was no person more fitted to
the chair than the gentleman who now filled it, who had
carried on the correspondence with the Government so
much to the satisfaction of that Court.—(Hear, hear,
bear.) He would put it to the proprietors whether it
would not be better for them to use what influence
they had with that Honourable Gentleman to induce
him to keep his present situation, he would not say for a