The Sun.
London, England, 1827-10-15 00:00:00

rnicEs OF IRIS.

Rank Stock - 1
Consols, 3 pet cent..
Gov. Stock, 31,zi par cent. SY2V4
Ditto, New 91,94 1
4 per Cent. 1007(.%
Gov. Deb. 344 i per cent -
Royal canal Stock -
Grand Canal Stock
City Deb. 4 per eent -
&Vast Office Deb. 4➢. et. -

MA;
Arrived. Due.
0 America 0
0 rrazil 0
O Buenos Ayres
2 Dublin
0
O Flanders 0
I France
O Gottenburgh 2
2 GuernseyBc Jersey 0

HIGH WATER AT LONDON BR?OGE To-MORROW.
Morning...2l minutes after 10.1 Evening....sl minutes after 10.

41Meirq 444,4
4A- IAA
I e
,

LONDON,
MONDAY EVENING, OCTOBER 15, 1827.

We have received, since our last publication,
the French papers of Wednesday, Thursday and

Friday, with the Gazette de France dated

Saturday morning. They contain intelligence
from Constantinople to the 18th of September

inclusive, which sufficiently proves the inaccuracy

of the private letters, which stated the disposition

of the SULTAN to submit. On the other hand,

it appears that the SULTAN and the Divan had

manifested the most decided determination to

resist ; and it is asserted that they persisted in

this resolution with the more pertinacity, in con-

sequence of being secretly assured that the alli-
ance of the Mediating Powers was formed of
such heterogenous materials, influenced by dif-

ferent interests, that it was impossible it could

last long. The SULTAN-, instead of having

made the communication which home of our

cotemporarics asserted he had done to the REIs

EFFENDI, had even expressed to that Minister
his displeasure that he should have receivcd the

Ultimatum of the 31st August, and had issued

an Hatti Scheriff to the Divan, directing that

assembly to show itself firm under the present

circumstances. Public tranquillity continued in

Constantinople, and many of the Christian

residents had determined • to -remain, in the
event of a rupture, under the protection of

the Austrian Ambassador. The Ambassadors

of the Allied Powers, met every day at Mr.

STRATFORD CANNING'S, for the purpose o:

drawing up their reports to their respective
Courts. The arrival of the Egyptian fleet, at
Navarino, was not known at Constantinople, at
the date of these advices.. Intelligence of that
event would probably reach the SULTAN about
the 20th or 22d ; and, if any indecision pre-
viously existed, the knowledge of such a cir-
cumstance of so much importance to his affairs
in Greece, would at once fix the SULTAN'S re-
solve. •

The accounts from Spain are contradictory.
In some it is asserted that an armistice had been
agreed upon by the Rebels, with the exception of
CA RAJOLS, while others describe the appearance
of fresh bands of Apostolicals in different parts
of the country. FERDINAND had proceeded to
Valencia, for the purpose of convoking a meet-
ing of the Ecclesiastical authorities to ascertain
the grievances complained of by the Insurgents.
Letters from Madrid mention that the QUEEN
was on the point of proceeding to join her hus-

band.

Private accounts from Lisbon mention that
General STUBBS had been acquitted by the
Court Martial.

The Moniteur gives a comparative view of
the produce of the indirect taxes for the first nine

months of 1827, with the produce of the same
taxes in the same period of 1826 and 1825.
francs.
Compared with 1826, there is a decrease of 10,506,000
And an increase of

Decrease of 7,733,000
The heads of the decrease are— franca.
Stamp Duties 853,000
Customs, Navigation, &c. 6,230,000
Duties on Liquors 2,048,00
Salt in the Interior
Various Taxes (Public Carriages, Navigation,
&c.)
On Sale of Tobacco 564,000
Post Office
The increase is—
On Salt Duties paid at the Coast 381,000
Sale of Gunpowder 93,000
Packet•beatsa &c.
Lottery 2,262,000
Compared with 1825, there is an increase of 836,000 f.

The French Funds have scarcely varied. They
appear to have closed on Friday, at 101 f. .45c.,
and 71f. 65c. Extracts of the Papers are given
in another column.

We received last night Frankfort Papers, and
the Allgemeine Zeitung of the 7th, and the
Austrian Observer of the 2d inst., but they con-
tain no intelligence from Constantinople further
than that given in the French papers.

We received last night New York Papers to
the 16th Sept., Washington to the 18th, and
Philadelphia to the 20th. They contain no
news as regarding the United States. We have
inserted in another column some communications
from Bogota and La Guayra, which are not de-
void of interest.

In our' article in Saturday's paper, on,
subject of the Income and Expenditure of thel
country, it was shewn, we believe, with clearness
and accuracy, that the amount of the Revenue
of the present year would fall short of our Ex-
penditure (including in the latter, as it ought to
be, the sum appropriated for the Redemption of
Debt), by the sum of 4,750,0001. It was also
ehewn that in our receipts was included the
amount of payment made this year by
.the Bank of
Errnhgielaenudm, oine
tatcectotuhnet
filtihpaatypmaertntotfothbee
Bank
k which
eht
hthateyAieieuercuhnatS;
s, viz.soin e 2,10,
a3voe,7s4uopl_.
Annuityeßa
a
Half-pay
epbayy
th
posed. The further payments of 947,870/. on
the 15th January, 1828, and of 1,027,5001,
on
the 15th July, 1828, being together 1,975,3701.,
remain to be Made by the Bank of England,
which will complete the purchase on their part.
For the sums so advanced, the country will re-
' main charged till sth April, 1867, with a payment
to the Bank of an Annuity of 585,0001. If the
Ministers, therefore, abandon the idea of selling
any further part of the Annuity of 2,800,0001.,
originally proposed to be sold, and allow this
scheme, which has met with the universal condem-
nation of all sensible persons, to expire, a further
deficit in the apparent Income of the country,
equal' to -the annual amount recently received
from the Bank, will arise ; and consequently
there will be the further sum of upwards of
2,000,0001., necessary to make the Income and
Expenditure equal. Hence the Chancellor of
the Exchequer will have in fiiture years to con-
tend against the hydra of Expenditure with di-
minished means, and consequently; to render
them equal, and maintain the Sinking Fund at its
present amount, he must devise some plan by
which he can add upwards of six millions and a
half to the present amount of our Revenue, or
to reduce our Expenditure by that amount.
Either of these consummations, however devoutly
to be wished for, it would be folly to expect ;
and, therefore, we again come to the conclusion
which stares us in the face at every step of our
argument on this subject, that the Sinking Fund
cannot be maintained at its present amount.
That its effect in the actual and beneficial re-
duction of debt cannot be beyond the excess of
Income over Expenditure, is self-evident, and if
it is maintained at a greater amount, for the pur-
pose of a reserve in case of any urgent occasion
arising for the immediate availment of it, the
country is annually paying a great and certain
loss for' a contingent and doubtful advantage.
Indeed we have no hesitation in saying, that for
such a purpose the Sinking Fund could never be
made available. Supposing a sudden emergency
to take place, and the measure which this argu-
ment contemplates of applying the sum usually
appropriated to the Sinking Fund, to the current
services of the year, would not the measure oc-
casion a fall in the Funds which would shake
public credit to its foundation ? The emergency
which would be met by this measure would of
itself deeply affect the value of public securities ;
and would not the effect be doubled by taking out
of the market at such a moment the constant
purchaser, which the Sinking Fund actually
is ? The idea is altogether preposterous, and
if the Sinking Fund is kept up beyond its
real amount, for the chance of being so applied,
the sooner it is reduced to its natural amount the
more it will be for the advantage of the country.
Still it may be argued, that a Sinking Fund of
5,000,0001. is at all times necessary to support
the credit of Great Britain on its present ex-
alted scale. If this. be so (which we do not ad-
mit) it makes for our general argument, that Ex-
penditure must be reduced, or Income increased.
How that is to be accomplished then is the main
question.

With regard to reduction, we repeat, that we
do
not believe it can be carried to any very im-
portant extent. Every means have been used
and are in progress to lessen expenditure, and
with every anxiety on the part of Government to

accomplish this end we cannot hope for a 'further
diminUtion of expence, (even if all political
affairs go on smoothly) beyond a million at the
outside. We must then seriously resort to the
other alternative, namely, of raising additional
means. This can only be done in addition to
that gradual increase which we believe will arise

in several branches of our permanent Revenue,
by a modified tax on real property. Actual
property, whether Land, House, or Funds, must
submit to a per centum tax. "To this con-
dition we must come at last," and the sooner we

swallow the draught the more effectual will be
our cure. But if we reject this means of escape

from financial difficulties, and cling to the Sink-

ing Fund as our anchor of hope, we shall find
that we rely on a broken reed, and ultimately,

when perhaps too late, repent our mistaken con'

fidence in a mighty but deceitful phantom.

An Express from Paris, this morning, bring

the Saturday's prices of the French Funds'
Three per Cents. 71f. 70c.; Five per Cents'
101 f. 65c.

Private letters by the express say, that a Tuni-
sian frigate, belonging to the Egyptian squadr'fl
at Navarino, attempted to leave the port, but
was fired on by one of our squadron blockading
the port, which poured a broadside into her,
and compelled her to return.
Favourable accounts had been received in Paris
from Spain. The Manresa junta had accepted

the King's amnesty.
It was confidently reported in Paris that the
French Chambers would be dissolved.

Letters from Holland, received this morning'
state that the Exchange had risen there one groat,
and that the Dutch funds have improved.

Copy of a letter reeived this morning froill
the Agent to the North and South America°
Coffee-house, dated New York, Sept. 16 :---
The American Coast, and nearly all the West lan
Islands, were visited during the last month by violent ha'
ricaces, and the destruction of persons and property 1160
.
been very great. The new packet has arrivedihere from the
city of St. Domingo, the Captain of which gives Yell
he
th
els
eU
at anchor at the mouth of tehael
unfavourable(nests
iB.titih of
harbour
aotrutbgnottiuss thetroff:voemi .
thehdt trri
driven
oe,
nat hnsedhroe shore
t; c
terminatedot r nh t
vethe wind from S. S. W. All the mahogany near the COcosP
e
had gone to sea, and would probably be lost ; most of the
harbour got under weigh at
the commencement of the
all wrecked. Two vessels,gmaej,oanlPl
le
at the mouth of St. Domingo rivger,yalnadden, wtenft Vero,
put to sea, and l'erees
lost; several Haytian coasters were lost, with all thee`
crews. The following vessels have been lost on the coasty--
Blitish barque Alonzo, nine of her crew lost ; British brig
one may
one
br anigmsanlotustel;, BGrliantisghonb,ripgaJrtutoiaf,
the
crew
savedSt' 1;
ornß
rietgi soh'
saved ; the British brig Elizabeth, Nelson, sailed for the
coast a few days before, and fears were entertained for lief
safety.—The British schooner Friendship has arrived 8t
New London, from Nassau, N.P., in distress, bound t°
St. John's.—The British schooner Jane, of Belfast, ar-
rived at Wilmington on Sept. 12, from Kingston, and ill
distress ; her cargo consisted of sugar, rum, coffee, &C. ;d.
she experienced considerable damage in the late gale,
had the misfortune of having the Captain, (Sankerson) a 1
three men washed overboard, and lost ; the second msl
Mr. Mackenzie was also washed overboard, but regsllva
the vessel, and brought her in a shattered state to this for!,
:
where she will be obliged to discharge her cargo to rep
damageL—An English brig, with a cargo of mahogal
valued at 165,000 dollars, was ashore 20 miles entlol,:'
Ocracock. •

Frankfort Papers of the Bth it,st. have 130
received' this morning. The King of SAxOl4l
has ascended the Throne under happy auspices'
and promises to follow the system of his prede'
cessor. The people were making preparations
to take the oath of allegiance to his MAJESTY.

Accounts from Semlin, dated the 25th tilts'
say that "the Convention of the 6th July 05
perfectly well known in the interior of Turkel'
and the general opinion was, that the Dilll
could not do otherwise than oppose it.

A Mercantile house in the City has receive
accounts from Paris this morning, stating that
great many forgeries have been committed lately
in the above Capital, and caution them not t°
accept any bills or drafts without proper advice
being previously received.

Gibraltar Chronicles of the 24th September
have been received, they contain little news'
On the 21st, a French convoy from the west-
ward, passed up the Straits. A French frigate
is anchored at 'Algesiras, she arrived there PP
the 22d.

The Austrian Observer, of the SOth ult. coil'
tains no fresh news from donstantinople.

Letters have been received from Rio de Janeiro
of the 25th August. Business still continued
extremely depressed and produce high ; the ex'
change had, however, risen a trifle to 31.1 Per
milrea. A Meeting of the Directors of the Bid'
of Brazil had been held, when they came to the
determination of lending to the Governme°
such supplies of money as they might imine'
diately require, at the low interest of 3 per ceot'
Hopes continued to be felt that peace would
eventually be concluded, and these ideas were
countenanced by the sailing of a vessei
for the River Plate, with a person on board'
authorized to open anew the negociations with
the River Plate authorities. A eertso
eminent Hebrew house at Rio de Janeiro, it i°
said, has assisted the EMPEROR with a sum, 54
800 contos of reas, equal to about 100,000 stet'
ling, which bills are payable at Vienna, and is for
the purpose of paying the expences and other
charges :attendant on the voyage of the Pre
PEROR'S bride elect ; and it is also added, lb
house in question has received drafts on tile
eo'
Custom-house receipts of the Northern x-19 v.--C

There had

advices fro

Grande.

Extract (
the 25th Aug
been made M
here, ou the
by the Brazil
and that there
only difficulty
on the part o
—By a vesai
received to th
Buenos Ayres
war with this

The excl
to 31i- in cons
son who had
the Brazilian G
retention of 1%1
of the British

Extract (
neiro, the 9th
house in thie
Government t
with the Empi
here. Busine
determined to
forces. Order,
without delay.
100 of them
300 here with
and mulattos.
their drawn In
Buenos Ayres
taken no less
mencement of
other nations,
which the Bra;
laden with na
Brazilian brigs
plundering the]
on the coast.—

There is
been received vi
131,!t at Bencooic
and one which
short time sine(

SHIPPING

THE

The British
business all ti
o
a Variation I
t• " atket ; Cone
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and Excheque
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m
d
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tiderable amot
no loss will b
shewn fyr th,
terized. Bra:

been received
than the last,
to 31} perm
still, but altho
South of the
had sailed for
it. was with t

negociations
bian are 26i 7
and Danish, 6
In Shares t
lower, being 5
13111. ; and TI
6. ; and Unit)

Three per
Count, S7A i;
63 4 pni.

FOREIG
Chilian, 20 2 ; I
Greek, 15 16 ;
Cent., 55 ; Peri
92 ; Spanish
MINES. -Anl
; Bolivar 4
Puxahua, 60 dis.

Consols are
b 4 present the
Bonds have be
%an have impr(

Consols ha.
4 a report rece
had attempted
144' back, bu
"red from an E

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tte 4:1 Several
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Of diseases
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57
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total I°llo had
6 number Whom
1/444 cure

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to the

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ill arise

evenue,

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s, must

is con-