The Sun.
London, England, 1826-12-07 00:00:00

Zb

LNON,
THURSDAY EVENING, DECEMBER 7, 1926'

Monday and
We received last nightatilieerscaennivteornpaalpFerregnctlioprooprelsi°,:l,
but it is Tuesday,extremelydifcaunitdl
, or, as they
accounts given in artehecalEletd°
day morning.
These
opiniont of the actual state of things-whether,--
news from Spain,
Fie Refugees relative to the invasion of Portugal
papers are principally filled with
by the Rebels
have re-entered Portugal
amongst the conflicting
the
: it? 'ac;
actually invaded her with hostile ,iletidleat
Re( I
oyy
aeisist
ters-;
. in despot'',
intentions. ,„
The Etoile of Tuesday
morning states that an P.'
press on the which left Madrid 26th Nov.,an d3r
rived in
,Paris on the 2d • t ins . seems to have broqld
despatches announcing that Spain offers to give
every kind of satisfactionlest
of the Porto Portuguese
.Refugees, and to take measure% f
such a nature that if they are executed they will rel-ect-
every attempt of the descri • ofthat which bs *O
ption
taken place
taken
absolutely impossible : and the same For
yialludes to a statement given in another Journal that $
Reno
fe egraphic Despatch has announced to the
Government____ that the King of SPAIN ilitd isitied s
Decree, to the effect that the Portuguese Refugee°
shall be obliged to withdraw to the distance of 1;114
leagues from the frontier of the kingdom. This bitter
account seems to correspond with (yawl. reports from
Madrid of the 26th Nov-., Published in the Cnstittl.
tionnel Of Monday,of
the tmeasiness manifested anion,
King of SPAIN on hearing of the invasur,
and the
Journal
des Debars actuall publishes t!':
decree, dated the- 26th November, for disarming th .
refugees, and ordering the Marquis de CHAVES.76_
the Viscount de CUNELLAS to quit Spain. I-lad_ aoe.
intelligence, therefore, stopped here, we should. 11_1.
have reason to doubt its correctness, or the should
the Spanish Government in the orders it had gly.abst
but the Quotidienne of Tuesday positively 101°,1h,
it has received a letter from Madrid, dated the -47'
the
announcing the rapid strides of the rebels : that
column which left Lugo had entered Chaves, the fr;
rison of - Which to an an
,joined the Royalists : itid
SILVEYRA'S divisiohad passed the Pour° they
taken possession of Miranda ; and that or,
are proceeding with all haste to cargo,
operations on the line of the Douro. The soot
letter sates, that on the 29th the French Amblf,ofs
had a conference with the KING, and that gre,:th ob,
ta.made the most urgent representations, but. 1' n tho
flied nothing but vague promises of rieurolq° al
• leS
part of Spain._ The Courier Francais of ' osses-
also positively states that the Ministers arc ill t' they
sion of news from Madrid to the 28th, thouguE
, toile
only publish it to the 26th. The silence of the
_0
of Wednesday on these important subjects throws
_Suiliti,
doubt over the correctness of its previous .our-
and tends to the belief that the news in the other j
nals is not unfounded. ',ea ly iteadY;
In the meantime the French Funds ar,eriie. I.lc b°
they rose on Monday to 991. Ssc., leftso "ii-0f.'6,50,
rather declined on Tuesday, having ° 1 wer.
e Also rather °
and 71f. 50c.; the Exchanges sr ia , Dse. ',---
P.aais, STOCK EXCHANGE, BioNpAT EVIL/4:,.. . Three '
per
Five per Cents., 99f. 80c 79 75c. 700. ""`'. „„ •771,
Cents.; 71f. 15c. 30e. 50c. .65 • c.soc. Ditto,Npie 11"--5' }Pr
77f. 10c.; Cortes Bonds, 101 • "Royal 521 52 ;Pr
tiara 705 f. 710
- 1.-Exchan e One'Al
peg, Of, 40c. i
Months, 25f. 20c. for money.g ' c. f:
PARIS STOCK EXCHANGE, T zsnALY Evssll46' nge OW
Five per Cents. 99f. 90c 45c.1190. 115 c. • Three Per 1,14,10
7rtif. 75c. "e• 70c. 75c.. ; Bank"Aetions, 210751' ; goysl,
dienttot"47sl. ise.
70c. 55c. 60c. ; Cortes Bonds, 1011;
Haytian 705 f *5l, Oc'
EXCHANGE ' . . . thl
--One month, 251 45t. ; twee mon- ,
or Money.

We received inclll4
the
Argenic of
the,i 29th ult. which contains a Proclamation issuea:al,
uen. YEnmALoirr at Tiflis, on the, 22d Au"sit'bew
tdressed to the Inhabitants of Georgia , exhortilig ,a
o rally round the standard of their EmPtnoo,
promising to carry the war into the heart ae
of Fero;
and revenge, the outrages committed by the in°

of tiaprgia.
ellostlt"
TI
Hamburgh Papers to the 30th ult. reached
119'
15tH
'
night, but furnish nothing impbrtant.
ult. at which time no apps of
Winter hot I
gence from St. Peteraburghearance reaches down to th,e, kea
place. s

EXCUANGES ow I.OVDON•
Hambur Nov. 28.-56 7/—two months, SO
Leipsie, Nov.N 24.—Three months, 6 I'7.
Berlin, Nov. 25.—Three months, 6 29/.

______—_-,--_-----.---__
The Debate which took'place in the House of 0'111;
coons last night, on the, presentation of a Petiti°ll
an individual, complaining of the conduct of ROO
Catholic ,Priests in Ireland in excommunicating Per'
sons belonging to their flock, and of another by .
HUMS from certain Manufacturers, praying for A re'
peal of the Statute which prohibits the exportitioll

of machinery, if not on subjects of general interest,
contained two points which are well deserving of notice.
The first petition, not content with praying for the
correction of a system which the petitioner consi-
dered vexatious, asserted matter prejudicial to the
private and moral character of the Catholic Clergy.
In consequence Mr. PEEL, with the candour and
correct judgment which influence his conduct on
all occasions, whether the subject originates with
Members who usually act with or against his Ma-
jesty's Ministers, declared his opinion that the House
ought not to give publicity to the petitions of indivi-
duals who abused the right of petitioning, so far as to
write treatises as petitions in which they attacked indi-
vidual character. The motion for printing this peti-
tion was therefore negatived. On the other question,
the good sense of the House prevailed over the wild
theories of political economy. Colonel TORRENS
very sensibly observed, that in every science there were
general principles, but no universal rule ; and if we
could invent machinery better than other nations, why,
he asked, should we not avail ourselves of that superio-
rity ? why should we, by a mistaken policy, give it
up to others ? Mr. PEEL observed, that as in me-
chanics it was unfit: to be governed by pure mathema-
tical principles only, without allowance for friction and
the weight of the atmosphere, so in political economy,
it was fallacious to proceed on theory only, without
regard to the particular circumstances of the times:
Practical wisdom, therefore, prevailed over theories
which, in their first adoption, could not fail to have
the most baneful effects on the minds, as well as poc-
kets, of our manufacturers ; and Mr. HUM E'S mo-
tion was happily lost.

The discussion on Mr. WAITHMAN'S motion,
respecting the conduct of the Directors of Joint Stock
Companies, has been attended with one important
consequence at all events-,-it has set people right with
regard to their opinion of Joint Stock Companies,
abstractedly considered. After the fever with which
the public were infected, in favour of every scheme
which was attempted to be imposed upon them under
the denomination of a Company, and the depletion
which those schemes have occasioned amongst the
parties engaged in them, it is not surprising that a
disgust, equal to the former appetite for every thing
which belongs to Companies, shOuld have seized the
public taste. Without, therefore, a consideration of the
comparative advantages of some Joint Stock Companies
over those of others, or of the positive benefits which
many of these associations have conferred and do
confer upon society, the public hate hastily included
the whole in one sweeping condemnation, and would
have doomed them all to universal execration and abo-
lition. Forgetful that some of our first comforts, con-
veniences, luxuries, and securities, have their origin in
the combinations of Joint Companies, the public have,
in consequence of the losses sustained in bubble
schemes in which they had engaged, attributed to every
Company, without exception, all the evils to society
at large which parties by their own fblly have brought
upon themselves : and to be a Director of any Com-
pany, has been for some months considered as criminal,
as it was thought honorable during the Bubble Com-
pany mania. But these extreme opinions, founded in
erroneous impressions from accidental causes, can
never have their sway for any length of time ; and we
know of nothing which has occurred so likely to bring
itople back to sound reason on this subject, as the
Debate in the House of Commons on Tuesday even-
ing. Let it not, be supposed for a moment that
We advocate indiscriminately, all Joint Company
schemes. We advocate the principle—not the wrong
application of that principle to speculative projects,
incapable of a beneficial employment of the capital
raised by Jobbers on the pretext of such schemes.
We do not say that this principle of combined capital
and management could be applied with success to a
trade in sandal wood with China, or a coral fishery on
the shores of Barbary : but we do say, that for under-
takings of enormous magnitude, requiring capital be-
yond the reach of individual enterprise, and time for
their completion, and a system of management which
the life of an individual could not hope to accomplish,
,then we say, in those cases, the principle of a Joint
Stock Company, is a right principle, and pregnant
With incalculable benefits to society at large. Let any
one read- the speech of 'Mr. Husictssori, and he
will find it difficult to controvert this assertion,
and let him trace the instances in his own knowledge
and observation which the Aight Honourable Gentle-
man alluded to, and he must acknowledge its correct-
nesa• For example—who can deny that time inhabi-
tants of this metropolis owe the comfort of New Il iver
and other good water to Joint Stock Companies ? The
convenience of crossing the River without embarking
in a boat to Joint Stock Companies—and the security
against losses from fire, and the benefits of insurance
of Life, to Joint Stock Companies ? To the same
Retiree the Nation owes the stability of its credit by
the Bank of England, and the advantages of its India
and China Trade by the East India Company. Its mines
of tin, copper, and coal, • • are principally worked by Joint
Stock Companies. Its canals and docks are dug and
maintained by the same powerful agents. Its communica-
tion by steam, and indeed a great part of its Shipping
trade, are carried on bynthe same
i means. It would be
endless to trace the ihstances n which Joint Stock
Companies exist, and
which they have been pro-
ductive of the most Solid 'and lasting benefits to the
country. To condemn them indiscriminately, there-
fore, as has lately been the fasbion, is altogether
wrong ; and when the injuries inflicted on a large pro-
portion of Society by the Schemes of unprincipled
persons cease to smart, the public at large will return
to right reason on the subiiect, and admit that where
an adequate cause exists or the formation of a Com-
pany, no means of carrying into effect an undertaking
of magnitude exists so beneficial or- proper. With
these feelings on the subject, we should be glad to
see the state of the Law as regarding Joint Stock
Companies altered, and a facility given to persons en-
gaging in them, with proper restrictions as to the ob-
ject for which Charters of Incorporation should be
granted.

In another column will be found a notice of the
Meeting of the Society for promoting Christian Know-
ledge, at which, after certain resolutions had been passed
for measures to the memory of the late lamented
Bishop HEBER, it was determined to submit a me-
morial to his Majesty's Government; suggesting that a
Bishop should be appointed to each of our Presiden-
cies in India, instead of one whose spiritual jurisdic-
tion should extend over the- whole of our Indian ter-
ritory.
As to the wisdom and policy, and even necessity of
some such measure, we think no one acquainted with
me state of our Eastern territories, and friendly to the

welfare of religion, in those vast regions can entertain a
doubt. But greatly as we admire the Society for pro-
moting Christian Knowledge, we do not see why a
proposition of this nature should emanate from any
such body ; if his Grace the Archbishop of CA NTER-
BURY, and the Bishop of LONDON are satisfied of
the propriety and necessity of such a measure, why
have they not submitted that opinion to the Govern-
ment, who are never backward to adopt recommenda-
tions from those dignitaries for the promotion of reli-
gion and the benefit of mankind ?

Gross mis-statements having lately appeared 'in the
Times Newspaper, and from that copied into others,
relative to a Contract for Peas recently made by the
Victualling Board, and an incorrect and unauthorized
explanation of the transaction having also appeared in
the Morning Herald of the 2d instant, we have
authority to state that the imputations alleged
against the Victualling Board are wholly devoid of
foundation. On the occasion in question, the Victual-
ing Board, agreeably to their constant practice, desired
all the samples tendered to be examined in their own
presence, by their proper officer, and such as were
deemed fit for the service to be selected from those
that were unfit. All the latter were of course rejected,
and the quantity required was taken from the lowest
priced samples that were considered to be fit.

In another column will be found an interesting let-
ter from Ireland, descriptive of the preaching of the
Rev. Mr. POPE, who has been sent, with other zealous
persons, by the Hibernian School Society into the
Sister Island. Since we received this letter we have
been informed, by another correspondent, that the
Priests are greatly irritated by the preaching of Mr.
POPE, and are enjoining all kinds of penances on those
members of their flocks who have dared to listen to
him. The same correspondent describes the minds of
the lower orders as being in a sad state—more prone,
if possible, to murder and violence than ever. He
states, that if a tenant is ejected for non-payment of
rent, the land lies vacant, for no other person dares to
take it—he would assuredly be murdered. He adds,
that a very general opinion unfortunately exists, that
a rebellion must take place before very long. ,

In another part of.our Paper will be seen a para-
graph, noticing a recent accident in the narrow part
of the Richmond road, contiguous to Putney Bridge.
We wonder that the inconvenience and danger of that
narrow and angular pass have not stimulated the neigh-
bourhood to some successful exertion for improving it.
It is not more than wide enough for one vehicle to
pass at a time, and seems to have been originally left
open for local conveniences only ; but since the build-
ing of the bridge, and the increase of population about
Richmond and its vicinity, it has become a much fre-
quented thoroughfare, and is now wholly inadequate
to the wants of the public. A great improvement was
made in Wandsworth a few years ago, and a most es-
sential one is now in progress at Fulham, and we hope
the inhabitants of the County, from Putney Bridge to
Richmond, will follow the example of their neighbours,
and wipe off the opprobrium of their otherwise delight-
ful road.

Brussels Papers of the 2d inst. have been received this morn-
ing, but their contents are neither new nor interesting. It ap-
pears that the Governments of Baden and Bavaria have agreed to
cut all the windings of the Rhine between the fount of Ifasselforst,
near &bra,lgh, and the canal of Frankenital, which will reduce
the distance '7 or 8 leagues. Eight hundred feet has been agreed on
Al the breadth of the river, which will be 10 or 12 feet deep.
These arrangements are already commenced, and will be completed
in 1831.

The Government of Baden has also proposed to that of France
to proceed to the rectification of the Rhine, from Schroeckh to
Huningen.

Rear-Admiral Sir Thomas A. Hardy is to hoist his flag on
board the Sybille, at Portsmouth, for the purpose of superintend-
ing the equipment and trial of the several experimental ships
which have been recently built on the respective plans of Sir
Robert, Seppings, Captain Hayes, Captain Symons, and Professor
Inman. It is reported that Sir Thomas hardy, on the termina-
tion of this service, will succeed Vice-Admiral Lord Aurelius
Beauelerk, in the command of his Majesty's ships in the Tagus.

THE FUNDS.

CITY, (Tim DAY), Twelve o'

Consols opened this morning at 845, since which no business
of any particular importance has taken place, and they are now
quoted at 844 1 for the account. India Bonds and Exchequer
Bills seem to support their prices of yesterday. In Foreign
Funds, Mexican Bonds are very firm at 711, being a small ad-
vance upon yesterday's price; Colombian Bonds have also risen,
and are now 391. The chief interest has, however, been excited
in Shares, and every thing has been alive; Colombian Mines
have gone up to 131 141 pm. per Share ; in Anglo Mexican the
discount is reduced to 25 ; Potosi have also had their favourable
turn, and arc up to 70 80 per Share.
Three per Cent. Console, shut ; Ditto for account, 845 1 ;
India Bonds, 36 8 pm. ; Exchequer Bills, IS 19 pm.
Fos,trox Furrns.—Brasilian, 65 6; Buenos Ayres, 62 4;
Chilian, 385 9 ; Peruvian, 33 ; Colombian, 1824, 38/ 9 ;
Mexican .5 per Cent., 59 5; Ditto 6 per Cent., 71/; Danish,
611 2/ ; Portuguese, 74/ 51 ; Greek, 181191; Russian, 865 7;
Spanish, 121 13/.
Mixes.—_Anglo Mexican, 275 5 die. ; United Mexican,' 75
65 die. ; Real del Monte, 140 60 pm. ; Bolauos, 120 40 pm. ;
Tlalpuxahua, 50 60 pm. ; Brazilian, 9 11 pm. ; Bolivar, 12
pm. ; Colombian, 12 13 per Share; Potosi, 70 80 per Share;
Castello, 3 2/ die.

Two o' Clock,
Consols have been 84k, buyers, but ire now 844 for ac-
count ; Mexican, 71 ; Colombian, 891 40.
THREE 0' CLOCK.
Three per Cent. Consols for account, 844

COLOMBIA.

TO THE EDITOR OF THE SUN.

- -
SlR—From observing that you have, in every instance, given
a fair and impartial account of the general news from Colombia, I
beg the favour of your inserting the following remarks in your
valuable Paper :
The friends of the Republic of Colombia have seen, with much
surprise, and equal regret, the continual erroneous statements and
comments upon the same, which have been laid before the 'public,
respecting the actual state of that country. Statements of this
nature, unfounded in themselves, but borrowing a serntlance of
tptrhrieiistsleignrtforweozmi the authority of the Press, cannot but prove highly
injurious to the credit of Colombia, and must tend at the same
time to undermine and weaken the good uhrlerstanding which at
ot:,
resuminineggte between the two countries. To those who are at
all acquainted either with the public or private character of the
individual whose mighty mind has achieved the independence of
empire;there can be no doubt hut that hie first effort
pledge which has been ►given to this country, and which, from
p strongual rptel ymi 'an' Colombiantids ol :It one ien
ofr reins
theinicllolr Ililtfhg
soundsuth ei
maximsGovernmentlhsle.leg'vvrso:l;iotehfugeduweti t'oa;r:7l:A is lil)ut possesseseaji sacredtulestr'iic cmeh
therefore, to
their judgment until Colombia
interim, by reports fabricated offio
official
itsahuffia
at
ecrctoht
hue
enßmt
stsie(tiivs British public
which it)oumb lbleyc
he should
daily suspend
expect-
ed) shall arrive, and n
only be one motive-4led away, in the
of stock-jobbing. ul aiding and supporting a regular system
in London, for which there can
VERAX.
London, Dec. 6, 1826,

We regret to state that the Earl of Liverpool con-
tinues indisposed. The Noble Earl is confined to
his room.