The Sun.
London, England, 1827-02-20 00:00:00

On sth Jan. 1827 - -

5,119,555 . 3 9i

From hence it is clear, that by the surplus income;
and by drawing the balance in the Exchequer lower,
the actual reduction which was made of the total
amount of Funded and Unfunded debt, was, in 1825,
9,900,7251.75. Bd., and in 1826, 1,195,531/.165. 2d.

And it therefore follows that if the before-mentioned
sum of 1,580,0001. had not been advanced by the
Bank of England in the 'last year, the income of 'the
Country would not have been sufficient for the ex-
penditure (excluding that for the Sinking Fund) by
384,4781., that is, if no funded or unfunded debt had
been redeemed or created, the income of the country,
without borrowing, was not sufficient to defray the
expenditure by that sum.
This is certainly a state of things far from satisfac-
tory, but it may be argued that the Revenue of the
Country was depressed during the last year from vari-
ous causes, which will cease to operate this year, while
the expenditure was swelled by advances and acciden-
tal circumstances which are not likely to operate
in the present year. To a certain extent this may
be the case, though we are not sanguine enough
to hope that the income will, on the .one hand,.
be greatly increased, or the expenditure, in the present
state of affairs, be materially diminished during the
.current year. But, for argument sake, we will admit
that these two causes may work favourably to the ex-
tent of 2,000,0001., which is far beyond what we ex-
pect they will. How then will matters stand ? We
have seen that the actual reduction of the total amount
of funded and unfunded debt,. effected during the last
year, was, with the aid of the sum of 1.580,0001. ad-
vanced by the Bank, on the Half-pay Annuities, only
1,195,531/. With the supposed additional 2,000,000/.
an actual diminution could therefore be effected to the
extent of 3,195,531/. ; but a Sinking Fund is to be
maintained to the amount of 5,600,0001. In what way
then is the difference of 2,500,000/. (in round numbers)
to be raised ? Is it to be raised by direct Loan, or by
a further issue'of Exchequer Bills ? The latter may
be the temporary expedient, tut the former measure
must, in point of fact, be resorted to, by Funding Ex-
chequer Bills, or by raising the money to pay them
off. What, then, are the inferences we draw from
these premises ? They are simply these :—that the
Income of tlle Country (even including the advances
of the Bank) is not sufficient to maintain' a Sinking
Fund of the present amount; that it will •bes-still'leS-s
able to do so next year, when those advances by `the
Bank for the Annuity of 585,7401. sold to them,. ter-
minate, and that, therefore, so much of the Sinking
Fund as .exceeds the actual difference between the In-
come and Expenditure, must be annihilated, or the
Income of the Country must be raised to a correspond-
ing amount.
If the maintenance of a Sinking Fund to its present
amount is considered essential to support the credit of
the country, or as a tangible resource in case of emer-
gency, the latter measure, of increasing the income by
taxation, or some other means, must be resorted to, for
it is idle to say that a Sinking Fund of larger amount
than the real surplus income, and maintained by bor-
rowing with one hand to buy bank with the other, can
be otherwise than a most clumsy and expensive ma-
chine of very doubtful expediency. On the whole, we
confidently trust that the question of Finance will be
fairly met in the ensuing Session, with the desire of
placing it on a footing calculated to maintain the na-
tional interests without affecting the national credit.

THE FUNDS-(THIS DAY).

CITY, Twelve o' Clock.

As the account day approaches (the 27th inst.) the anxiety of
the speculators increases, particularly as the fluctuations have not
only been frequent but heavy. This morning the Consol-market
evinced a decided disposition to advance. Consols opened at 81i
(having closed yesterday at 80i 1) and rapidly went up to 81t,
buyers, at which rate some business was done; a re-action then
took place, and they receded to 1, and are now 611 k ; the
continuation for April account is scarcely per Cent. Reports
are in circulation of a further division of troops proceeding to
Portugal, as well from this country as from Hanover. India
Bonds are 48 50 ; and Exchequer Bills, 30 1 pm. The atten-
tion of the public seems to be fixed on the English Funds, and
little business has hitherto been done in the Foreign ; 'Mexi-
can 6 per Cent. Bonds are 671 a ; Colombian, 37 115. ; the meet-
ing wiucl. took place ye,tcrday h.T, not had any e&ct on them;
Greek are 15i 16i; and Russian, 99 1. Nothing new can he
quoted relative to Shares, the prices remain without any variation
for the last few days, and no business seems to be doing in them.
Three per Cent. Consols, 81f 1 ; Ditto for account, ;
India Bonds, 48 50 pm. ; Exchequer Bine, 30 1 pm. .
FOREIGN FUNDS.—Brazilian, 63 5 ; Buenos Ayres, 32 4;.
Chilian, 36 8 ; Colombian, 1824, 37 4 ; Danish, 601 1 ;
Mexican, 5 per Cent., 56 7 ; Ditto 6 per Cent., 67i ; l'ortu-
Peruvian, 33 5 ; Greek, 15i- 16A ; Russian, 99 ;
tnglo Mexican, 35 32,4 dis. ; United Mexican, 11.
gBluoP:asecullifsss.c.llr73rizilian, par 1 pm. ; Real del Monte, 50 10 pm. ;
Tlalpuxahua, 35 45 pm. ; Bolivar, par, 2 pm. ; Colombian,
19 20 per Share ; New, Ditto, 14 15 per Share ; Potosi, 34 6
per Share; Pasco Peruvian, 641 per Share.
Two o'

Consols have again advanced to their highest quotation this
morning, being 814 1 for account, and 814 2 for the next time ;
money Stock is scarce, which circumstance may account for the
prices keeping up. In the Foreign Funds there is nothing par-
ticular to mention, Colombian Bonds are 37 ; Greek, 16
and Russian, S9l I.
THREE 0' CL 0 CK-
Consols for account, 81i Al.

We shall give the fight between O'Neal and Can-
non in a Second Edition.

A MON CHAT.
J'ai recu les V's, aussi oettes du lSme, avec les P's ; je tacherai
faire tccit ce que vous me chargez, et qu'elle vous envoiercie ce
qu'elle m'a prorois. Reste assurez qu'on pense de voila a cheque
heure, et sovez tranquille la dessus moi, je vous emprie de ne
plus preter I'oreille A tout ce qu'on vous ditent, car je serai tou-
jours le meme. Attendez le ISme du moi prochain.

Feb. 18, 1827.
_ANECDOTE OF MOLIERE.—The following fact
respecting this celebrated character deserves to be mentioned.—
He had just bestowed some money on a supplicant—a moment
after the poor man ran after him, saying, " Perhaps, Sir, it wa
not your intention to have given me a louis d'or, I have come to
return it to you."—" Keep it, my friend," said Moliere, " and
here is another," exclaiming at the same time, "Virtue can neve
remained concealed ;" an explanation proving that he reflected on
every thing that presented itself to his view, and that he studied
nature in all her features, as a person who was arribitious of truly
representing her.—Le Mercure de Londres.
Died, on the 10th instant, in the 85th year of his
age, Wm. 3litford, Esq., of Exbury, near Southampton, bro-
ther of Lord Redesdale, and author of the " History of Greece.—
'rants Telegraph,