Star.
London, England, 1822-02-23 00:00:00

TWELVE O'CLOCK.

The Funds are not so brisk as they were on the opening of
the Market this morning, when Consols were done at 781, 79.
Consols are now at 78; fur the Account, and S pet Cents. 1034.
All Foreign Securities are on the rise, owing to a great number
of persons investing their property in the above Funds, by which
they can obtain a greater interest.
Spanish Old 80nd5.... ........... 59*
Spanish New Bonds 60i
Danish 85
Prussian 884

According to the new system which Government have adopted,
of stlling the S per Cents. a person who formerly possessed an
annual income in the above Stock of £lOO, loses £l6 per
annum, and only gets now £B4.

By private letters front Paris, the French Funds are 90f. sc.
ONE O'CLOCK.

The rubLe continue to st.ll out of the 5 per Cents. and are
investing the proceeds in Foreign Securities, which are all upon
the rite. Spanish Bonds arc now 60, and those of the New Loan
GO:. Danish Bonds have also cut a prominent figure, having
improved one per Cent. this morning. A difference of opinion
seems to exist as to the probability of the plan being carried into
the full extent contemplated, bat the extensive holders are fa-
vourable to the project.—Current prices

Bank • Stock 249 248%
3 per Cent. Reduced 79% %
3 per Cent. Consols 78% %
31,4 per Cent. 90% 3A-4 per Ct. 97% 981/4
5 per Cent. 104 103% % 1,4
Bank Long Annuities 20% 9-16
India Bonds 525. 48s. pre.
Exchequer Bills of 4:1,000, gs. pre. par, 2s. pre.
Ditto small 3s. 4s. pre. pat, 2s. pre.
Consols for Acct. 78% %.

Ministers are certainly either very undecided as to
their plans or very careful that the Public shall not
know much of them at once : thus they are either
let out piecemeal or involved in such obscurity that
it is not easy to penetrate them. On Friday week the
Marquis of LONDONDERRY laboured for upwards of
four hours to convince the House of Commons that
the finances of the country were in a most flourishing
state ; and that the Ministry, of which he is so pro-
minent a member, had made every possible reduction
in the public expenditure, although out of an expen-
diture of twenty-six millions reductions to the amount
of two millions only were made, a large portion of
which was necessarily saved to the country by the
deaths of her late MAJESTY, Of BONAPARTE, &C.
His Lordship, who, in addition to his other offices,
is on all important occasions the mouth-piece of the
CHANCELLOR of the EXCHEQUER, intimated an inten-
tion on the part of Ministers of reducing the interest
ea the Five per Cents.

Yesterday the plan, having been duly concocted, was
submitted to the Public, through the Governor of the
Bank and several other Gentlemen, who waited on Lord
lavinrooL and Mr. VANSITTART, and is as follows:

" A new Stock to be created, bearing an interest at the rate
of 4 per Cent. per Annum, the interest to be payable on the .sth
of January and the Sth of July, in each year, and not to be paid
off until the Sth of January, 1829.

•
" All holders of 3 per Cents. who shall not signify their dis-
sent, to have for every £lOO 5 per Cent. Annuities £lO5 in the
ntw 4 per Cent. Stock. •

" Tht Sat Vvidead of the new 4 per Cent. Stock to be pay-
able on the Sib of January, 1823.
" Books to be opened at the Bank (torn Monday, the 4th of

, '

Usich, to Sittnalay, this 16sh at.ltarektain.beit days.lasle
hire, foe reviving signatures of pommies dissentie,
" Potions not signifying their dissent within this period, to
be donned to June assented, unless they shall have been of
the United Kingdom for the whole of such period ; labwhich
case they shall be • pernOtted to express such dissent at any •
before the Ist day of June, 1822 ; and any pawns who may
insany other pan of the world, except Europe, to be permitted to
express their dissent at any time before the Ist of March, lOn.
" Persons dissenting to be paid of In the numetical order
in which their names may be subscribed. Sear piiVenest to
commence on the sth July, 1522, and to be coodnuad tench
periods, and in such manner, as Parliament may direct.
" AS holders of 5 per Cent. Stock will rem*. that dividends
due on the sth July, 5.22."
Some of our contemporaries are loud in their
eulogies of this plan, while others condemn it; we
think it merits neither, since it W as harmless in its
'nature as it will be inefficacious in its results. When,
in 1749, Mr. PI MLi AM proposed reducing the 4 per
Cents. which then amounted to three millions, he did
it gradually, giving notice that after one year the 4
per Cents. should only pay 31 per cent. for seven
years, but after that period they shourd be further
reduced to 3 per cent. _ The whole of the National
Debt at that time was less than 70 millions, and the
interest did not amount to mote than three millions,
et of the holders of the three millions of the 4 per
Cents. only two-thirds agreed to the transfer; and
lholden to the amount of one million were paid off.
The interest of our debt now is thirty millions ; the
lamount of the 5 per Cents. to be reduced is 155 mil-
lionst and yet Ministers, without a shijling in the
Treasury, talk of paying it off. The fact is, that the
plan is merely a tub thrown out to the whale, a plan
, to divert the public attention front economy and re-
trenchment. That they cannot give £lOO to a single
lbolder who should demand it, Ministers are well
aware, but they hope to do it by transferring it from
one Stock to another; that is to say, to cancel the
present Stock which pays 5 per cent. interest, and
create a new Stock, which is to be called 4 pet Cents.
—lf the terms are agreed to by the Public generally,
the Navy Five per Cents. amounting in principal to
£155,000,000, and paying an interest of £7,750,000,
will be done away with; and instead, a new debt to
the amount of L:162,7.50,000 will be created, bearing
an interest of £6,310,000. On this proposition, there-
fore, an annual saving, to the amount of £3,240,000,
will be effected ; but, on the other hand, the sum of
£7,750,000 will be added to the principal of the pre-

sent National Debt. Now taking the sum of L:1,240,000
at six years' purchase, it amounts to the sum of
£7,440,000, which about equals the additions made
to the principal of the National Debt. The gain to
the country, therefore, will not take effect until after
the expiration of six years ; inasmuch as the million
and a quarter- annually saved by this operation will
not pay the addition made to the principal of the
National Debt within a shorter period. We have
hitherto supposed, that the whole of the holders agree
to the transfer—that is, agree to receive four per
cent. for their money, instead of five per cent. as gua-
ranteed to them on the creation ; but should they
refuse, Ministers, with all their vapouring about the
national credit, must either violate it or seek other
means of evading the demand of the Public for such
a system of rigid economy and retrenchment, in every
department of the State, as shall make an extensive
reduction in the public expenditure.

At a late hour this forenoon we received a Flanders
Mail, bringing Frankfort Pipers to the 15th instant,
and Brussels Journals to. the 18th. The following
are extracts:

.ae was. Sem amelitary stssowas, 'it is adaed,
In beets
ethrilitrng of bfialeteddithe reanstermiajthelliesiates
Gentle op the 15th, a Petition was presented from
some Landowners in East Flanders, desiring that, so
Primer the national agriculture, the im • a of
grain, butter; and cheese, might be
FRONTIERS OP SRRVIA, JANUARY sa
Great fears were entertained of An insurrection is
Servia. But the Pacha of Belgrade has succeeded is
pacifying the most distinguished Servian Chief, who
bas the greatest interest with his nation. Whatever
be the reason, it is a fact, that Milos& has lately do.
cared himself in favour of the Porte.

\

DISTURBANCEE IN IRELAND.

FROM Tilt DUSLIN JOURNAL OP RIONEIDAIr.
We regret that it is not this day in our power-to
mention any abandonment of the lawless pursuits of
the banditti in the country; indeed the system seems
to be extending. In the county of Sligo, which hi-
therto has not manifested intubcrdination, scum'
outrages have beeen committed. At Easky, a few
nights since, a temporary barrack was set on fire by
a party of disaffected persons, and consume& A
Serjeant of Yeomanry was beaten to death by this
party. In the county of Roscommon, also, nocturnal
meetings, for illegal purposes, have been held about
Ballagh and Culumogh.
In the Barony of Iverk, county of Kilkenny, last
week, the banditti :ommittact several outrages. Wed-
nesday, a numerous party attacked the house of It
Lindy, near Kilmaganny, demanding arms; on being
tensed, they tet on fire put of the dwelling, which-,
in all probability, would have been consumed, had
not a Catholic Priest slept in the house upon learning
which the party desisted.
Mr. Max, who was dreadfully wounded by the in-
surgents some time ago, died on Alonday after much
suffering. Two men have been committed co Kil•
kenny jail, charged with the murder.
In the county of Tipperary, the insurrectionary
spirit proceeds with unabated zeal. Wednesday, three
houses and offices, on the lands of Coolnaun, within
two miles of the town of Tipperary were%urned.
Of the fourteen men tried at Cork, on Monday, in
one indictment, the following ten were found Guilts.:
Daniel Murphy, Daniel Reardon, Patrick Lehane, Patna
Breen, Thomas Guggin, Cornelius Buckley, Cornelius Lug,
Jeremiah Hurley, Hurnihry Hinchey, and John Kelleher.
Four were acquitted, of the names of Thomas Sz..hriven,
mothy Swiney, Michael Lynch, and Martin Swiury. The
Court then adjourned.