The Sun.
London, England, 1829-05-13 00:00:00

or four millions of this debt is paying off little or
nothing—it is hardly worth mentioning; besides,
the holders of the debt do not ask to be paid off.—
All that is done with respect to the debt is—the
people pay taxes daily to the Government to the
amount of 28,000,0001. a year, and as fast as the
Government receive the money for the taxes, they
pay the money into the Bank of England, and the
latter pays 28,000,000/. to annuitants, in quarterly
payments and, as the annuitants receive their pay-
ments from the Bank of England, they either invest
them again in Stock, or they pay them to the trades-
people; so that no sooner is the 28,000,000/. paid
in taxes to the Government, than the latter
pay it again to the people, and thus the money
is kept continually passing from one to another—it
never stands still a moment, for even should the
bankers get any part of it, they only keep one-third
in their tills, the two-thirds they employ in dis-
counting bills of various descriptions. As to the
quantity of gold that is wanted for the quarterly
payment of the debt—it is only 7,000,0001. at the
utmost—but we should think that the greatest ex-
tent of gold that is wanted by the Bank for the quar-
terly payment is, perhaps, nu 2,000,0001. Sir
James is quite wrong in his assertion as to our at-
tempting to pay off the 800,000,0001. debt in a gold
standard. There is no such operation going forward,
and the only operation that we can see is the one we
have stated. But even the payments of the taxes
to the Government are not in gold, but chiefly in
paper; or if the Government were to receive gold,
they would immediately change it for paper, or send
it to the Bank of England, so that it may be said
that almost as soon as the Bank of England issues
gold to the public for the interest of the debt, the
public pay it back again to the Government in the
shape of taxes, and the Government pay it to the
Bank of England.—Alorning Herald.

FROM THE GAZETTE OF LAST NIGHT.

Dawning-street, May 8, 1829.
The King has been pleased to appoint Major-General
Sir James C:omichael Smyth, Bart. to be Governor and
Commander-in-Chief of the Bahama Islands..

Downing-street, May 11.
The King has been pleased to appoint Edward A. W.
Di unimond Hay, Eeq. to be his Majesty's Agent and
Consul-General in all the dominions of the Emperor of
Morccco.

Crown-office, May 12.
MEMBER RETURNED TO SERVE IN THIS PRESENT PAR-

LIAMENT.
Borough of East Looe.
Henry Thomas Hope, Esq. of Duchess-street, London,
in the room of Lieutenant-Colonel James Drummond
Buller Elphinstone, who has accepted the Chiltern
Hundreds.

Commissions signed by the Lord Lieutenant of the County

of Glamorgan.
John llomfray, Esq. to be Deputy Lieutenant. May 1.
Whitlock Nichol!, Esq. to be ditto. ?I ,y 1.
Swansea and Gentlemen Yeomanry Cavalry.

Thomas Penrice, Esq., to be Major-Commandant,
vice Hughes, deceased. April 20.
Henry Lucas, E-q., to be Captain, vice Penrice, pro-
moted. April 20.
Thomas Thomas, El., to he ditto, vice Evans, resigned.
April 28.
John Strick, Gent, to he Lieutenant, vice Stephen
Bowen Jones, resigned. April 20.
John Henry Hammond Spencer, Gent. to be ditto, vice
Thomas, promoted. April 28.
Commission in the Clumber Troop of Sherwood Rangers,
signed by the Lord Lieutenant of the County of Not-
tingham.
Gervas King Holmes, Gent. to be Second Lieutenant.
May 1.

DECLARATIONS OF INSOLVENCY.
Antonio Joze Meirelles, Liverpool, merchant.
Thomas Henry Coe and Frederick Farmer Moore, Old
Change, Cheapside, printers.
.Archibald Allardyee, Chadwell-street, Clerkenwell,