The Sun.
London, England, 1827-02-05 00:00:00

LONDON UNIVERSITY.

By the deed for the erection of this gteat work, it is fixed, that
the building shall not be begun until there are 1,500 shares of
1001. each actually subscribed, and the number may be increased
to 3000, whieh would reduce the amount of each share to 501.
On Saturday last the whole of the 1,500 shares were filled up,
ani the second instalment of 101. (making 351. per share) paid
hp on a large proportion of them, when the Council flied on the
7th of March for laying the foundation stone, which will be done
with all becoming masonic ceremony by his Royal Highness the
Duke of Sussex. We congratulate the country on the progress
Made, and the prospect that now fairly opens of great public ad-
vantage from this establishment. To those who have objected to
this College, we would say, that it is not to be considered as in
opposition to the Universities of Oxford and Cambridge, but in
aid of them, and as affording collegiate education to those who
either cannot be admitted into the Establishments in question for
want of room, or whose income does not enable them to bear the
expente of either of them. It is also pleasing to understand that
the ablest and best informed persons in both these Universities
speak without jealousy of the London University, in terms highly
to their honour, and thereby shew a degree of liberality which
we are happy to make known. We are confident there will he
ample employment for all the three Universities. With the cont-
pletion of the Establishment now almost secured, the next ques-
tion to be asked is, when it will be completed ? and we are ena-
bled to state, front good atithority, that Messrs. Lees, the con-
tractors for the building, and Mr. Wilkins, the architect, are
both confident that the building will be ready for the commence-
ment of the Lectures in October 1828, or, at the farthest in Fe-
bruary 1829, allowing the longesrperiod (of two years) that has
been contemplated. We also understand that the number of can-
didates for the several Professorships in the University hold out
the certainty that the most eminent men in each branch of learn-
ing and science will fill the chairs.
It must, indeed, be an object with most of the men of eminence
to have the capital as a field for the promulgation of their opi-
nions. It has long been matter of surprise, and we would add
of reproach, that the capital of England should be the only capi-
tal iu Europe where an University is not established ; and we
congratulate the country, that it will be so soon in the power of
young men to obtain a complete, efficient, and economical system
of education suitable for the age we live in. As it has hitherto
been a great desideratum, we are confident that the London Uni-
versify will soon acquire that eminence which its extended plan,
' and the liberal principles on which it is established, entitle it to
hold among the schools of Europe.—Morning Chronicle.

1760
1761
1762
1763
1761
1765

1768
1767

1768

1769
1,70
1771

1772

1773
17'71,
1775
1776
1777

1778 --

1779

1780
1791

1783
1784

1785

1786

1787

1788
1789

1790
1791

1792

1793

1794
171)5

1796
1797

11V8

1799

1800
1801

1802
1803

1904

1905

1806
1807

1808 . .........

1809
1810
1811
1812
1813
1814
1815
1816
1817
1818
1819

1820
1921
1922
182:1
1824

1825
1826

August. I November.

From the same hand, and connected with the same sub-
ject, may be added a series of remarks on the rate of inte-
rest at which Government loans have been negociated
from the period when such transactions assumed any de-
gree of national importance.

RESLARKS•
The average rate of interest at which the loans were negociated
during the American war, that is, from the beginning of the year
1776 till the end of the year 1784, was 51. 7s. Id. per cent.
The average rate of interest at which the loans were negociated
during the war with the French Republic, that is, from the begin-
ning of the year 1793 till the end of the year 1801, was 51. 4s.
7d. per cent.
And the average rate of interest at which the loans were nego-
ciated during the war with the French Empire, that is, from the
beginning of the year 1803 till the end of the year 1814, was 41.
19s. 4d. per cent.
It therefore appears, that in proportion as the debt increased in
magnitude, the greater was the facility in raising money, and the
lower the rate of interest at which money could he obtained.
The average price of 3 per cent. stock during the American war,
that is, from the beginning of 1776 till the end of 1784, was 654
per cent., being equal to rate of interest on 1001. of 41. Ils. Ild. ;
and the average rate of interest at which the loans were negotiated,
during the same period, being 51. 7s. Id. per cent., it follows
that there was an average gain of 15s. 2d. per cent. on the interest
on these loans, being equal to a capital of 251. ss. 7d. in 8 per
cent. stock.
The average price of 3 per cent. stock, from the beginning of
tol a rate nfte
785,tillthineernesdt
nit of 1792,100. of 31. 1.
1 was7si.per cent., being equivalent
r eTnheeb averagel
ipe itebeaot fi
s 3,
of the year 1793 till
Inc etnbte.
be
et ogcikn
nduringthe war with the
pero
the end of the year 1801, was 613 per cent., being equivalent to
a rate of interest on 1001. of 4/. 17s. ; and the, average rate of in-
terest at which the loans were negotiate& during the same period,
being Si. 4s. 7d. per cent., there was, consequently, an average
gain of Is. 7d. per cent. on the interest on these loans, being equal
to a capital of 12/. 12s. 9d. in 3 per cent. stock.
The average price of S per cent. stock during the year 1802
was 71 3 -16ths per cent., being equal to a rate of interest on
100/. of 41. 4s. 3d. _ . _

The average price of S per cent. stock during the war with the
French Empire, that is, from the beginning of the year 1803 till
the end of the year 1814, was 62i per cent., being equal to a
rate of interest on 1001. of 41. 15.. sd. ; and the average rate of
interest at which the loans were negotiated, during the same
period, being 41. 19s. 4d. per cent., it follows that there was an
average gain of Sc. 11d. per cent. on the interest on these loans,
being equal to a capital of 61. 10s. 7d. in three per cent. stock.
The average price of 3 per cent. stock, from the beginning
of the year 1815 till the end of the year 1821, was 70 3-16th°1
per cent., being equal to a rate of interest on 1001. to 41. ss. 6d.