The Sun.
London, England, 1835-12-12 00:00:00

.- .
herself', as well as the immense benefits ! (inferred oil the *bole
World, by her marine—the dis-f! ',97ec.•;= 6, A new world due to
tier vessels. thn ti.ttll'.., ':vhich she can present to the must tiie-
ful rti.s"eries which have perfected, navigation,
.thc, thatv
Spanish names which illustrate the n.‘,1441 Ilisitlia'y of Ettrope,
she Would never, witht,k','A OA gre:k.te'st risks; diFogard the no-
aessity of tt 41Ataining. a i6Sleettible, riiiky 16 .ilefetid. Wo:'r Soil,
placed ns it is betiVeen the b.'',ll'tl. tlnu toe Mediterranean, to
preserve this IMPriant possessions which she still holds in
America, in Asia, and in Africa, to protect her external com-
munications and her maritime commerce in all the markets of
the world. The retoilectiniit ato still fresh of our having seen
sailing from 01 ports merchant ships which could not be co-
vered with the flag that in other times floated Victorious in seas
the most remote and unknown% •
' " Neither does the rtattwar situation of Europe require,
nor does the ti..;YCSent annihilation of our navy permit us to
aspire tO the creation of a numerous Let; . at present it is
enough for us to have d Sufficient force to defend our coasts
in both hemispheits, and to protect our mercantile naviga-
tion. This is the object to which this respectful address is
directed, and the plan which now, and without prejudice to
the introduction of the ameliorations which experience may
recommend, I offer, as follows, to your Majesty, from a sincere
desire of performing,the duties of the Ministry of Marine, with
which your Majesty has honoured me ad interim, and of ad-
vancing the glory rind prosperity of my native country.
" The whole of the Royal fleet requires a complete rcorga-
, nitstion in the personal, the material, and administrative
parts. It is necessary to re-establish it perfect according
the last improvements ; the scientific:education, now most
sadly neglected, of the youths who dedicate themselves to that
glorious career ; to attend with the utmost care to the subsis-
tence, to the stimulus, and to the recompense and advance-
ment of all who serve therein ; to take care of the welfare of
those who either from their years or their ailments are not
fitted for service; to establish an asylum for the invalids who
in the navy have contracted an honourable inutility. - It is re-
quisite that our ships of war should equal in construction,
equipment, and armament those of the most advanced nations,
and for this purpose it is proper to anticipate, at an oppor-
tune etaton, the dispositions and expenses requisite for future
costs and disasters. But, above all, it is. indispensable to sim..
plify the administration, and to distribute the sums designed
by the Cortex to the distinct-branches of the navy, with the
strictest and moat rigorous separation of the personal and ma-
terial part of the service, in order to remove perfectly the con-
fusion and vexation with which the preservation of the one
part is attended to, to the detriment and ruin of the other.
" Being convinced how much it conduces to save time and
expense, and at the same time to forward a good method and
facilitate administration, to draw to a centre of unity all the
operations of governing this branch, I believe it to be my
duty to present to your Majesty a new scheme of a secretary's
office for doing business, in which, notwithstanding the :n-
-crease of the number of individuals, will be effected by the sup-
pression of the superior board of the navy pay-office, and some
other offices, a considerable saving in the expenses, and in my
judgment a manifest advantage to the service.
" Your Majesty, by benignly taking these ideas into consi-
deration, and by sanctioning the annexed project of a decree,
or by reforming it in your high wisdom, will obtain another
weed, for posterity, among the other titles of glory with which
your august name will be environed, will also prize the name
of ' Itestoress of the Spanish Navy,' &c.
" JUAN ALVAREZ Y MENDIZABAL.
" Prado, Nov. 28, 1835."

Then follows the Royal Decree, whereby the Supreme
Board of Government of the Navy is suppressed, as well as
several other offices ; and the Navy-office is composed of a
sub-secretary, four chiefs of the sections, and five chief clerks,
in the following order :—The sub-secretary is to have one
chief clerk, with other subordinate ones for the centralization
of business ; and the four chiefs of the sections, with each a
chief clerk and some inferior ones, are to preside over the
following departments The personal branch ; 2d, The
facultative and scientific branches ; 3d, The material part ;
and, 4th, All that part which comprises the accounts. The
chiefs of the four sections are to form a body, called the Coun-
cil of the Navy, which is to meet every day for at least two
hours, and to perform the duties of the suppressed Board.
' The Gazette of Monday, the 30th, contains a long article
laudatory of the numerous donations offered by the Spanish
people on the altar of their country, and a short paragraph, of
which the following is a translation :
" All the rumours that have been current respecting the
triumphs gained by the rebels are false, absurd, and prepared
by malevolence. Despatches have been received from the
army, in which nothing new has occurred ; it observes from its
posts the movements of the enemy, and it is prepared, as it
has done on various occasions, to profit of the opportunities that
may offer. Among the rebels there is a scarcity of money and
clothing, and the desertion to our camp continues of its troops,
particularly of the infantry."

WEST INDIA LOAN.

MONEY MARKET, FRIDAY EVENING.

It is said, and we have no doubt that the fact is so, that the
West Ihdian Loan, with the exception of between 700,000/.
and 800,0001., is now paid up, while, at the same time, the
amount paid away upon the determined claims cannot at the
most be 4,000,0001. The situation, then, of the Government
as resulting from that transaction is, that we have in hand
10,000,0001. of borrowed money, on which interest has ac-
crued, and is accruing, for which no immediate use presents
itself, and which is consequently a dead weight on the re-
sources of the country. According to the current expectation,
it will be two years and more before the whole is called for.
It is impossible to form any judgment at present of the loss
the country will have to sustain from this operation, the most
ill-advised, perhaps, in all its bearings, that ever was entered
into ; but the day of reckoning must come hereafter, and it
is highly important, mean time, that the subject should not
be lost sight of. Its effect on the circulation and on the
monetary interest, which is another very important
feature of the transaction, may be tolerably well com-
prehended now without waiting for further develope-
ment. It is next to a miracle that the country escaped a panic
through it, but means were providentially found, as the temp-
tation to pay up the loan in full drew the Bank notes out of the
market, to have a great part of them re-issued, by a series of
factitious operations, by loans and accommodation of various
kinds, and the storm at last was safely weathered. The Bank
was the only gainer, as all these causes tended to advance the
rate of interest, and the Directors gathered in, in point of fact,
a magnificent harvest for their proprietors at the expense of the
Government and the monied interest generally. The only way
in which this state of things can be turned to any account by
the Chancellor of the Exchequer will be, to obtain from the
Bank a set-off, in some way or other, for the large Government
balances necessarily kept on hand. In a direct way, it is of
course impossible that an appropriation of money, like the slave
compensation fund, can be interfered with for a different pur-
pose, such as that, for example, of the payment of the divi-
dends ; but it may perhaps be demanded of the Bank with per-
fect fairness and propriety, that, having these large balances
in hand, they should make their usual advances for the pay.
ment of the dividends without charging any interest for them.
By such an expedient as this, perhaps some small portion of
the national losss may be covered, and we suggest this ac-
cordingly to Mr. Spring Rice, who, having got into a dif-
ficulty by the false step he made at the beginning, must
naturally be desirous to extract all the good out of it that
yet remains to him and to the country.
The notion, to which we adverted some time back, that no
sufficient powers were vested by the act in the Accountant-
General to pay the claimants under the disputed claims, on its
being determined which party was entitled to the money, turns
out to be a mistaken one. That functionary is not empowered
to sell the stock invested in his name and pay the claimants
in money, but he may, which answers the same purpose,
transfer an equivalent amount of stock, at the market price of
the day, into the names of the claimants, and in that manner
claims to some extent have, it is said, been recently settled.
—Times.

Lord John Russell has arrived at Woburii Abbey,
Bedfordshire, from Oakley-house, the residence of the
Marquis of Tavistock.

Mr. Hawes, M.P., and a deputation of between
twenty and thirty of the soap-mannfacturcra of London,
Bristol, and Carlisle, had an interview yesterday with the
Chancellor of the Rxchequcr and Sir Francis Hastings
Doyle, Bart-, Chairman of the Commissions of Excise, in
Downing-street. _ _

Lord -Brougham left Berkeley-square yesterday for
his favourite villa at Petersham, where he enjoys retirement
uninterrupted by those. obtrusions to which he is subject
when in town.

That admirable fiction, " The Disowned," in the
cheap re-issue of Colburn's Novelists, is enjoying the same
popular career as " Pelham." We never knew any young
persons who did not delight in this work of Mr. Bulwer's ;

it gives them back all their better impulses and higher as-
pirations with a " divine shape." This power of exciting
the enthusiasm of the young is the first stepping-stone to
an author's fame. Perhaps characters were never more
finely analysed than in " The Disowned." The vanity of
Talbot—the fierce partisan spirit of Wolfe—the mean,
fraudulent, and weakly-cunning of Cranford, are drawn
with a master's hand. The love-letters, too, are exquisite,
tender, simple, and impassioned. Another grace is con-
ferred on this production by the delicious touches of descrip-
tion that lie scattered through the pages. Most attrac-
tively embellished, elegantly printed, and bound in morocco
cloth, another of the best fictions of modern times will now
be presented to the public for a few shillings, published in

the first instance at a guinea and a-half. -
ALARMING FlRE.—About four o'clock this morn-
ing, a fire broke out in the shop of Mr. King, dyer, Essex-
street, Strand. It was fortunately discovered by the
policeman, F, 144, while still pent up within, and he very pro-
perly instantly sent off a cab to the Farringdon station,
whence all the engines, as also from Watling-street, were
directly sent. The fire had by this time assumed an alarm-
ing appearance, and great exertions were requisite to
stop it from ascending upwards, which happily succeeded.
The stock and furniture of the back parlour are destroyed, and
the building much damaged. Mr. - Braidwood, the super-
intendent of the Establishment engines, was himself pre=
sent, and rewarded the policeman with 10s. for his judicious
conduct, to which the safety of vast property and severQl
lives may probably be attributable. 'File building is en-
sured in the Globe, and stock in the Hand-in-Hand.

The trade of Paisley still continues in a very favour-
able state; particularly in the licaq covered shawls, the
staple branch of manufacture.