The Sun.
London, England, 1818-09-09 00:00:00

WEDNESDAY, SEPTEMBER 9, 18

SPANISH DECREE.

The King our Lord has been pleased to address
to me the following Decree :---

" On taking a view of the antiquity and pro-
gress of the Debt of the State, and considering
that neither the lapse of years, or even of ages,
nor private and public prosperity in various folio-
nate epochs, have sufficed to extinguish, dirni-•
nish, or consolidate national credit, I should
have renounced the arduous attempt to restore it,
had not the principles of eternal justice, to which
numerous creditors, the innocent victims of the
promises of the Government, appeal, and the con-
viction that credit, which has at all times contri-
buted to the welfare of States, forms in modern
policy the chief basis of their power, incited me
to exercise a constant vigilance in in7estigating
and discovering the real cause of so many evils,
-and the means 'whereby they may be remedied.—
This I have accomplished ; and, in consequence
of the deliberations of my Councils of Castile and
Finance, of representations from various corpora-
tions and enlightened individuals, of the informa-
tion derived trom a junta' of Ministers which I
nominated for that purpose, of that' whiCh• you
resented to me in a memorial on this important
subject, and, finally, of the luminous disctission
atid judicious opinion expressed by my Council of
State thereon, all the light of which this difficult
and interesting question is susceptible, 'has been
cast upon it ; anti I have obtained-the inestimable
satisfaction of being convinced that the public au-
thority, which enforces with all the rigours of
the law the fulfilment of those stipulations be-
tween individuals which are secured on mortgaged
property, tenders the engagements contracted by
r ire Government illusory, if it be not guided in all
its operations by those maxims of morality, jus-
ti,e, and public conveniency, that form the su-
preme law from which its high functions cannot
exempt it :—that the unalterable 'principles 'of
that law are those only which can assist in the
establishment of public confidence:—that a system
founded on solid bases dictated this supreme law
in all the branches of public administration, and
its most exact and scrupulous observance can
alone supply sufficient means for meeting the
debt, and consolidating the credit of the State;
and that, to establish this system, I ought to
imitate that conduct which a wise and just pru-
dence dictates to the father of a family,• who,
finding that misfortunes or imperious circum-
stances have injured his credit, reduces his expen-
diture as low as possible, reforms all the abuses
that have contributed to his embarrassment, care. 7
fully watches to prevent similar abuses from
springing up, and exciteOhrOugh his whole esta,
hlishment an.anxions activity for augmenting his
profits, and a constant assiduity to obtain the
confidence of his creditors, by regular accounts, a
steady integrity, and a frank disclosure of his
transactions, his situation, and his prospects.—
These are the principles which 1 propose to oh,
serve, and they are the same which were sanction-
ed in my Royal Decree of the 30th of May, 1817,
which shall be inviolably executed for the benefit
of the great Spanish family whose father I have
been constituted by Divine Providence. The pru-
dlent and economical measures adopted by that
Decree, owing to the magnitude of the evils which
afflict us, have not yet had all the desired effect ;
but that effect will doubtless be produced as .soon
as the critical circumstances of the State may
permit, and prudence direct, the execu•ion of the
law ; but it is not permitted to men to obtain sud-
denly what they desire, or what is fitting for them.
The expenditure, which has hitherto been left
without rule or order, is daily diminished, and
in time will be annually reduced and limited to
what is absolutely necessary. A profound peace,
which, determined as I am to adhere religiously
to treaties, never will be disturbed by me, and the
most perfect harmony with all the nations of the
world, succeeds to a war system, the principal •
origin of the national debt, and a decided protec-
tion given to the agriculture, the manufactures,
and the commerce of my subjects, which, as the
fountains of ail public and private wealth, occupy
my first attention, will augment our resources,
the deficiency of which restricts my plans with.
respect to the public creditors. A previous know-
ledge of the talents and probity of all the persons
to be employed in the administration of my Royal
finances, and a rigid attention to their accounts,
Kill be the means of avoiding dilapidations and
increasing the produce of the Royal revenues.—
The correct and regular account of the estimates
of the expences of the revenue, and of its distribu-
tion, will guarantee the integrity of these trans-
actions in my reign, hitherto distinguished from
those of my ancestors, in consequence not only of
no burden having been thrown on the nation by
either domestic or foreign loans, but, on the con-
trary, by having reduced the debt beyond what the
wants of the Country and the Royal Treasury ap-
peared to warrant ; and, lastly, a strict attention
to the payment of the advances -on the duties,
which are now signed, or may hereafter be sign-
ed, thus securing the religious performance of my
promises by establishing a complete separation
between the funds of public credit and those of
the treasury.
" These are the straight paths which I am con-
stantly desirous of pursuing, in order to arrive at
the much-desired end of establishing public credit :
those tortuous ways which have conducted to the
opposite extreme will not again be resumed—the
evils which have so deeply afflicted my heart will be
repaired—and the state, which in its distress found
no assistance except at the expence of great sacri-
fices, which in the end have weighed heavy on the
country, because the failtire in fulfilling engage-
ments has excited distrust, will merit the recovery
of confidence, and will obtain abundance of sup-

plies without those hard conditions which are im-
posed by bad faith. In consequence of the in-
vet sion of this order at the time of.the publication
of the Royal Decree of the 13th of October, 1815,
for fixing the bases of public credit, and assigning
duties for the payment of the debt, my Royal re-
solution expetienced the same fate as the edict of
the 30th of August, 1800 ; because, not being pre-
ceeded by a full and accurate examination as to
what duties 'could be appropriated to the relief of
public credit without producing serious inconve-
niences% its regulations continued to be objected
to, and finally ceased to be enforced. Such an
examination is a preliminary and indispensable
step in establishing the fundamental bases of the
grand edifice of public credit.
" At the time when I flattered myself with hav-
ing attained, through measures called or by jus-
tice_and public utility, that end which,, its conse
quince-of deviating from those measures, has not
yet been reached, I find that I cannot have the
satisfaction of announcing the happy epoch of the
completion of my, views, with all the extension
-which 1 wish to give them,'—that is to say, the
moment for realizing the payment of the interests
in specie, and the annual redemption of a capital.
sufficient to secure the public creditor against any
loss. In consequence, not being able to overlook,
in the application of the duties, the deplorable state
of the people, and the desire of avoiding any shock
between their character and the measures intended
for the encouragement of agriculture, mane-
factures, and commerce, all the deliberations
of my Councils and Ministers, and of en-
lightened individuals, have not been sufficient

to secure the objects already indicated. But
if, in order to extend the operation of the funds ap-
plicable to the support of public creilit, 1 had been
able to abstract myself from these considerations,
and to overcome my natural resistance to burden
with fresh contributions a people who have re-
cently given me proofs of the greatest fidelity and
attachment, and who have endured ail the horrors
of a most destructive war, I could not have adopt-
ed any measures which would have been capable
of influencing the restoration of public credit, or
which. would have redounded to the benefit of the
creditors ; for one part of my subjects being
debtors to the other, the imposition of any new
tax, beyond what the country might be able
to sustain, would be a violent measure, cal-
culated in a short time to ruin private for-
tunes, Which only can minister the requisite
assistance for the discharge of the debt—a
measure also of short duration, and which would
render all other sacrifices illtisory. Under such
circumstances, neither the creditors,
.nor the rest
of my subjects, can hope more from a Sovereign
than that he should adopt and steadily maintain
those means which are in his power for attaining
an object so much desired, particularly in such
a question as the credit of Government, which' is
more readily consolidated-by the observance of a
system dictated by morality and justice than by
the quantity of securities mortgaged. These
maxims of honour and good policy, which are
engraven in my heart, have made we determine to
propose only what 1 believe can be re-
alized, and to advance by degrees, until cir-
cumstances permit me to- completely fulfil the
obligations which have been contracted, by ex-
clusively applying, in order to attain that end, not
may the meassves to which I have now given my
approbation, but any others which may be sug-
gested, or which may present themselves in fu-
ture, without their being subject to any other ap-
plication, even when the debt shall be diminished.
On these grounds and considerations, I have li-
mited myself for the present to distributing among
the creditors, according to the nature of their
debts, such funds as the circumstances of the na-
tion permit to be so applied, but in such a man-
ner that all may in some measure be attended to ;
and for this. end, and, having heard my Council of
State, I have ordered, and do order as tOliows:"—

[The articles of the decree (which have already
been given in substance) for classing the public
debt into debt hearing interest, and debt without
interest, anti for providing means for the dis-
charge of the same, follow. The decree is signed.
by. the Kiug, and addressed to Don Martin de
Garay. To this document is added the Pope's
Bull, authorising (with some exceptions) the ap-
plication for two years of the revenues of such
benefices as happen to be vacant, towards the ex-
tinction of the public debt.]

It is a consolation to the industrious mechanic,
and persons of moderate income, who are afflicted,
to know they may have the best advice, gratis, if
they attend at certain hours, namely, Tuesday,
Thursday, and Sunday mornings, until one
o'clock, at the Medical Board, Great Charlotte-
street, Blackfriars-road. That thousands suffer
from improper treatment is a fact—the latent
seed of a dreadtul disease lurks in the system, de-
stroys domestic happiness, and entails debility on
the rising generation.
_ _ _

The Medical Board claims the attention of
those afflicted with Strictures, Fistulas, Cancers,
Scrophulas, Nervous Debilities, Eruptions, ul-
cerated Throat, Pains in the Head and Limbs,
frequently mistaken for Rheumatism, Nodes in
the Shin Bones, &c.

Messrs. COOPER anti Co. after forty years' prac-
tice in various Hospitals abroad and in this me-
tropolis, are consulted at Woodstock-street, Ox-
ford•street, daily from eight till eight ; and at
the Medical Board, Charlotte-house, Great Char-
lotte-street, Blackfriars-road,precisely from twelve
until eight in the evening,
44* Ruptured Patients, whose tumours ex-
ceeded '24 inches, have had them returned, to the
surprise of the Medical Profession.

4§* A side door;•and -private rooms for fe-
males.

[Pnrct SEIrtNRENCE.

INSOLVENT DEBTORS' ACT.

FOR THE SUN:

Mtt. Enrroa,-4 am induced to trouble you
with some observations on a subject of 'extreme
importance to the Mercantile and Trailing World.
The real facility which the Insolvent Ac: affords,
for extricating men frmn confinement,. tenders
them indifferent to liberty and careless of in-
dustrious pursuits. it' there was not a certainty
of early emancipation, debtors would be more
strenuous to keep out of prison, principle would
have mote influence ,on their conduct, and credit
would not be subject to the deceptions which
knavery invents; and which no law can det,et.
With the utmost vigilance that_ can bcosed
there is no certain prpteoion against fraudulent
conduct, because motives are not demonstrative*
and even if detection results from Fraud, punish-
ment affords no retribution.

The mischiefs, under the Act, are without esti..
mate; and if -the Law is permitted to continue-, its
extent of evil must be accumulative. Ten men,
in as many different gaols, may be individually
debtors to one person, and, although he can prove
no legal fraud against either, be is equally a
sufferer by their insolvency, and in his turn must
become insolvent too. Thus the whole trading
interest in the nation, in its turn, feels the shock,
and hundreds who are now at large may become
insolvent by rotation. Credit, under such cir•
cumstances, must necessarily become stagnate,
and no man will counteract the position that
credit is indispensible. I feel convinced, Sir,
that if imprisonment operated in terrorem, meri
‘vould not incautiously or designedly contract
debts as they do at present. If they were appre•
hensive no relief awaited them, they woulil not
so readily place themselves in a situation to re•
quire it ; on the contrary, the tear of imprison..
meta would induce cautionary conduct ; but three
months is to many debtors only a holiday, a sort
of jubilee or recreation. And if creditors were
not subject to The delusions practised by debtors,
or could be protected by ti►e power of the Law itt
legally retaining the debtors' person, they would
not be subject to so much imposition, and com-
merce and credit would again become co-ex
tensive.

I would humbly suggest, Sir, experimentally, the
repeal of the present Act, at least for a time, or to
let the public know that it is not meant to coutioue
beyond the period fixed ; and if the prisons should
become crowded, temporary measures, as heretb.
fore, might be resorted to. But, assuredly, the
prisons during the last five years have been more
crowded than at any former period. If hereafter
it should be found requisite to renew a permanent
measure, I would suggest a definite period of im-
prisonment for a specific son) after execution, and
even then not allow the same spice of imprison.
menu for an excessive sum as for sums of more
limited amount. Or, if the protection of credit
should he a distinct aim of the Legislature, pro-
bably uncertau imprisonment will best attain tliat
object. Under the provisions of the present Act,
it operates as a death-blow to credit altogether.;.
and such is the apprehension and suspicion of
men in trade, that credit is withheld where it
might be-given with safety, and the pretensions
of designing men are the insidious traps by which'
the fair trader is ensnared ; and thus the Act ope-
rates to prejudice the well-meaning, and to le•
your the fraudulent.

The restoration and protection of credit are ob-
jects of vital importance to the community, and
on a reflection that nearly twenty thousand per-
sons have been released from custody under the
Insolvent Act, it may be estimated that the debts
of such persons must in torn operate to involve
many others in the vortex of insolvency ; for, as
the Report of the House of Lords justly says,
" the creditor of to-day may be a debtor of
morrow."

1 would humbly submit, Sir, an extension of
the Lords' Act, as practical experience has con-
vinced me that the extension of benevolent feel-

ing best answers the views of the creditor, there-
by promoting his interest, and frequently his in-
clination, for we are not in this country proverbial
for unprovoked resentment. Under the old Law,
previous to the Insolvent Act, creditors were in-
duced to give an extension of time, for encourag-
ing the exertions of the debtor, who, when he had
no alternative left, willingly applied his efforts in
payment ; and to encourage those efforts, his
friends assisted %aim with a portion of means and
money, the sinew of industry circulated and en-•
couraged it ; but now the unprincipled debtor ob-
tains all the credit he can, solicits no time for the
encouragement of his industry, but voluntarily'
surrenders himself to prison to save his friends'
pocket—thus promoting indolence, and defeating
just expectations. .

These suggestions are the result of conviction
and experience, but feeling my own incompe-
tency to offer an adequate remedy, I may be ex-
cused in attempting to evince the necessity of it.
SCRUTATOR.
Wine Otiice•court, Fleet-street, Sept. 6.

Friday night the Bristol coach, on its way to
town, was unfortunately overtuined cn the off
side, near Marlborough forest. In the inside were
eight passengers, including two children, and on

the outside twelve, with the di iver. Sonic of the
individuals sustained injuries from bruises;hut no
serious accidents occurred beyond them and the
fright occasioned by such a disaster. The person
riding by the coachman, alighted on his fet t in an
upright 'position ; which, no doubt,, was oct a-
sioned by the buoyancy of the umbrella be was
holding over his head (it raining fast at the time)
with a firm grasp, and thereby rendering 1. a
descent gradual. This confirms the propriety of
using art umbrella as a fire escape.

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LONDON JOURNA LS.

Tillorning Chronicle, Sept. 9.]

The recent arrivals from the Mauritius represent the dis-
sensions amotipt the civil branches of the Government of
-that Colony, to which we have before adverted, as having as-
-sined a most aggravated character. We learn that the or-
dinary judicial Tribimals,with the special Conrts:of Admiralty,
established by commissions from the King and the Admiralty,
Dare been superseded by the acting Governor, and that in
lieu thereof he had appointed a Court in the person of a Mr.
Caunter, who' previously discharged the office of a mere Eng-
lish Interpreter to the Tribunals ! To have superseded the
Commissary of Justice and Chief Judge, an English Lawyer
of eminence, and to have substituted the Interpreter of his
tribunals, seetus at least an unprecedented arrangement,
even in Colonial transmutations. An alleged default is
:stated to have taken place in the local Treasury, and we have
heard that persons supposed to he implicated are on their
passage to Europe. One letter mentions, that the Clerk
who gave information of the deGeiency had subsequently put
an end its his existence. Under such a state of things, that
interesting Colony is the prey of great dissatisfaction and in-
dividual suffering.