The Sun.
London, England, 1828-04-05 00:00:00

arises an almost irresistible presumption against the
practicability of the design itself.
Section 2.—Provisions adopted for giving Perman-
ence to the Sinking Fund of 1786.
The law considers this stock not as cancelled, no!
even as redeemed, in the common sense of that word,
but as transferred from the stockholder to the Sink-
ing Fund. That Fund, however, wo know, has
not any substantive existence; it is a mere creature
of our minds, an official form in which the State
conducts one portion of its affairs. The nation is
the true owner of these annuities. It has re-pur-
chased them from its creditors with the public mo-
ney ; and it now pays them to itself with one
hand, and receives them from itself with the other.
They are called interests, but interests of a debt
redeemed. A manifest contradiction of terms !
Section 3.—Actual failure of these endeavours.
Section 4.—Causes of this failure.
Many, who will readily disclaim all hope of direct
public benefit from a Sinking Fund, whether in
peace or war, at simple or at compound interest,
will nevertheless firmly cling to its continuance or
renewal.. They will admit, perhaps, without hesi-
tation, that a nation can no more profit by thus
trafficking with itself in its own Securities, and
buying debt with debt, and money with money, than
an individual could by shifting his purse from one
pocket to another, or his bank-notes from the upper
drawer of his cabinet to the lower.
Many have insisted, and still insist much on its
good effects, in raising and upholding the price of
Stocks. Whatever raises the price of Stocks ren-
ders them comparatively a less profitable employ-
ment of money, and tends therefore to divert capital
into other investments until the natural level be re-
stored.

SPORTING INTELLIORNCE.

WOLAISLEY HUNT RACES.-Armr. 2.

The Stewards were, T. STONOR, jun., and H. HAY-
WARD, Esqrs., and, under their superiutendauce, good
sport was provided.
A Silver Cup, value 50 guineas, was woo by Mr. Hard-
ing's Jack-of-Works, beating Mr. Musgrave's Kenilworth
and four others, in heats of two miles each.
A Cup, value 50 guineas, the gift of J. Fane, Esq.,
M.P., was won by Mr. Wiggins's ch. in. beating three
others.

The Subscriptions for next year's Cups are already
more than usually numerous.

HUNTING APPOINTNIENTS
FOR THE ENSUING WEEK.
His Majesty's Stag-hounds will meet on Monday, at
Farnham Common; Thursday, at Princes Risborough—
at half-past 10 o'clock.
The Crareu Hounds, on Monday, at Mr. Dundas's
Lodge ; Friday, at Grotto Coppice—half-past 10.
The Brighton Harriers, on Monday, near Patcham ;
Wednesday, near the Race Course ; Friday, near the
Dyke—quarter before 11.
The Lewes Brookside Harriers, on Monday, at New-
market Hill ; Wednesday, at Ashcombe (the alternate
Wednesday at the Kennel, Ilford) ; Friday, at Telescuu►be
Tye—half-past 10.
The Woreeetesshire Fox-hounds, en Monday, at Croorne
Perry Wood ; Thursday; at The Cliffey-10.
Mr. Dansey's Hounds, on Tuesday, at England's Gate:;
Friday, at Bacho Hill-9.
Earl Fitswilliaufs Hounds, on Monday, at Fineshade-10.
Lord Yarborough's Hounds, ou Monday, at Roston
Wood ; Wednesday, at Newsham Chace ; Friday, at Us-
sleby House ; Saturday, at Roston Wood-11.
Mr. Foljambe's For-hounds, on Monday, at Clay Bridges;
Tuesday, at Scotgrove Wood; Wednesday, at Lea; Thurs-
day, at Kingsthorpe—half-past 10.
Mr. Muster's Hounds, on Monday, at Norton Woods ;
Wednesday, at firanston Wood; Friday, at Skellingthorpe—
half-past 10.
Sir Jacob Astley's Hounds, on Monday, at Thema-
thorpe ; Wednesday, at Bintry ; Friday, at East Basham—
half-past 10.
The Shropshire Hounds, on Tuesday, at the Wrekin—
half-past 10.
The Derbyshire Deer-hounds, on Monday, at Skegby ;
Thursday, at Hoguaston Whin—half-past 11.