The Sun.
London, England, 1827-05-22 00:00:00

of their business is on. the-ordinary description
/-S.' 6d. of property, and the diity ou that -amount
fel. the same periOd is 35...0r 209. per cent. on
the amount of premium. Hence, many who
could afford to pay the consideration charged by
the Insurance Offices, cannot pay the additional
expense of Government duty, and are tempted
.to leave their property exposed to all the risks of
accident. For the same reason those who do
insure :do so only to a very limited extent—to
such an extent as may protect them against
positive ruin in case of fire, but not to such an
extent, as would be necessary to afford them full
and complete protection.
The operation of the tax is, therefore, most,
injurious to the Insurance Establishments, to the
Revenue—and to the public at large. To the
first it necessarily limits the extent of business ;
and so unproductive has it become, that several
establishments have already given up Fire In-
surances altogether. For a similar reason the tax
is highly injurious to the Revenue. The amount
of property actually insured bears no proportion
to the insurable property of the country, and
there cannot exist a doubt, that were the duty
reduced to one-third or one-half of its present
amount, in the course of a short time a larger
Revenue would be created. For this purpose
some restrictions would require to be imposed
on the Insurance Companies as to the mode of
doing insurance—but into matters of detail we
cannot at present enter. The effects of the tax
ih •
rePreasing a spirit of prudence, and entailing
ruin on those whom it induces to leave their
property unproteeted, have been already pointed
, and deserve the serious attention of the Le-
gislature.
The-advantages that would flow from a reduc-
tion of the duty must be quite -apparent. A much
greater amount of property would be insured,
d in this way, though there would in the out-
set be *-a- defalcation such defalcation would
soon -Ij6
compensated. In proportion to the
toount of reduction, would the inducement
incre' guard against accident by insurance be
ased ; and when accident did occur, those
instances of misery and destitution, of which weno
o frequently hear, would be altogether un-
Ahown.
Many arguments might have been adduced in
tipport of the view we have taken, such as the
~.ad vantage which the law at present gives to
".igners and the inducement which it affords
to effect insurance in countries where no tax on
nisnrance exists ; but these we have purposely
°lllltted, because we conceive that enough has
been stated, to shew that an urgent necessity does
exist for a revision of the law 'regarding Fire-
nsnrance. The revision will not, however, we
'trust, be limited to the dUty on Fire-insurance,
Ihit
strong objections likewise apply to the pre-
?sett Beale of duties on Marine-insurance ; and
e2fe. Will, it is to be hoped, speedily become the
41,1!et of enquiry—which must lead to redress.
The following Official Notice has been cir-
elated' at Lloyd's
a: :
LONDON, MAY 21, 1817.
PORTUGUESE CONsuLATE
,GErj"r"
..,6_Notie.e hereby given, that. Captains of vessels:an.d_otbersi
ceeding to the Portuguese dominions, are on their arriva
P°ll to deliver all their letters to the Officeri of the
Pi..°4ll;lll°f,l,lealtla, by whom they are to be visited on first
tt, toe port. In default thereof, they will be liable
w.
P_ellatea of fine and imprisonment, as established
La
Signed) -
'•„ 1", S i‘jpA.ytia.Consul-General.

Alt,fletter from La 'loliayra, of the March, mentions
hitt h,...""fal Bermudez had left that place in disgust, sold
4i"•ina.estates- in Cuinana, and went to Trinidad;
144,1,P, 'a and will be a great loss to Colombia. It is said
dot
President that he would rather serve the Eng-
teiiel..l4ll3';vate.soldier, than the ungrateful Republic as a
bas ; how true_ I Will not say, but certainly he
lieetic°4 away muchr.disatisfied; there is a large garrison
44d'sLine at, the Caraccas, at present ; money is very scarce,
--,.ii",s•ooyernruerit have no means of paying their debts.
44,-- 'Pce is not restored, and we fear if the President
A'"t,l'ls we shall again have more trouble.
letter 'rend' paper received this morning, states that a
of t refeived from on board the Talbot, in the roads
124,413:111a, of 23d March, which has the following para-
24iji ---grA. few days ago, two French frigates, the Ar-
tor land Galathea, took on board 500. Turkish soldiers
—wija, with Soliman Aga, who is to be the new
• , THE FUNDS—(THIIS DAY).

CITY, Twelve o' Clack. ,
too .".7 thing relating to the British Funds is stationary,
tol'siett, re-AY any transactions have been done. all day. Con.
En
P"led at the rate they have so long continued at,
ta;ight3.3 and up to the present moment no variation
t eh: 1110 tied; no alteration has taken place. either in
Fluer Rills or India Bonds since yesterday, the former
p Ir. Lilt at 49 SO MA the litter; '76 7 pm. The Foreign
The '1" had biz; little variety, Colombian being 31i 2..
ate. lints brought, by the Leeward Mail this morning
°n they of a very gloOmY character; at La Guayr?,,
z!tss; fn, there
_ : neither money, credit, or bm-
u
114 Y tler quite gone, and the, Government was
tietyw-,%.1'11t what it ought to be, in fact, it scarcely d
Mexican are steady at 684
14ews ads are. rather better, being 581 9, but the
lug in ,b 1.." ,Tal reported yesterday of the action terminat-
*l44 'l° %tilde in favour of the Imperial forces, and
delve icatsed. the rise, is rather too much to place confi-
ii exa ;. the belief generally in the City is, that the fact
`.I.Y contrary, and' that the Government would not
this hattlle4 to give the quickest information to the public on
mutt, po,,ttant event if there had been any truth in the re-
Aux. lti.e Share market is daily losing ground, Anglo
lart are at 50 dis., and every thing relative to these
-Imealations seems on the decline.
Thre,
sg.&;,..fitCent. Consols, 83 A.; Ditto for account,
koaeti,l4,ll:::th476 7 pm. ; Exchequer Bills, 4950 pm.
Chilian. 39 7,„11an; 681 9 • Buenos Ayres, 55 7 ;
- ,
can, Five per CE.rit., ,2an. 31t ; Danish, 611 ; Mem-
Petlivian, 2'i 9; i4t6 ; Ditto, Six per Cent., 684 i;
Spanish, 77 g";. Russian, 90i 1;
aixi& —Anglo;
Par ; Colombian, 10 12 peilZv' "hi ; Zrazilian, 1 dis.
P
par ; Tlalputahua, gcr 41? Real del Monte, 20
15 dis. ; Bolanos, 80 60 die' . ; ITllited Mexican, 16

'- - . Zito o' Clock.
Consols are immoveable—not tli',A;
ilitest variation has
taiken place all -day, and 83f, 'sellers; continue the rice.
hes litelniutn, and 76.
i„u'lil Bonds are about 18. pe.r
.eent.
31, which arises
volOnabian Bonds have receded to 30i
from the unfavourable intelligence froin that Republic.
Mexican remain steady, at 681- t•
THREE OCZ 0 Cx.
Consols, 83i, buyers ; for July, 83f.
„FOUR o'CLOCK—CLOSING PRICES.
vonsols 831 Danish Bonds 61
,Do. for Ac. 4831 Greek Do. 16.2.5, --
4razilian Bonds —... Mexican Do. 1825 68i
tuenos Ayres Do Peruvian Do.
C
Chilian Do. *
Russian Do.
(I.l.lMbian, 1A24, 311 Spanish Do. 12i.
..............__
~,.

_ _ _ _ ___
, •the e East India Company's ship Orwell ar-
wfid off Saleombe on the 18th instant. She sailed from
itel,Lo on the 19th of January, and from St. Helena on the
ith of April. The 2.3unira arid Lady Melville arrived
"1 of
on the ilth of January. The'/Iforgnis of Huntly
Wll, 8 to leave Macao on the 20th, and the _London about
t,i;e 224 of January. The former wto touch at the
‘-'aPril The London had arrived at StdHlen, and el
to sail for England about the 7th of April. The Orwell
,Illoke the 117aterloot outward bound, in Lat. 00. 20. north'
I,.__cmg. 23. 80." west, on the 18th of April, all well. The
wrrterioo parted company the day before frOm the General
"ItYcl and Pariuharaln.
1,