Star.
London, England, 1825-08-31 00:00:00

MINES.

SHARE. PAID. PRICK PIM MARK.
Castelln&EspirltoSanto 100 5 9/ 10
Pasco Peruvian - 100 - 5 - 131 14
Potosi, La Paz, & Peruv. 50 5 21 iJ 9
!loyal Irish 25 1 9-16 1 dia. par. 1 die. par.
United Mettican 40 20 581
Ditto Ntw 40 10 28 30
ASSURANCE COSIPANIES.
Alliance British & Fur: 100 10
Protector Fire 20 2
SHARK. PAID. PRICK rat amaze.
British Iron Company - 100 - 20 • 15/ 1 b
British Rock & Patent Salt 50 5 12; i
General Steam Naviiatioh 100 5 . 6*
Great Westminster Dairy 25 -6, 5
London Gold & Silverßefining 250 5 9k
Low, r Rhine Steam Nay. 100 1 5
Provincial Davit of Ireland 100 10 11i
Pearl Fishery, Yellow (issalOpm) 25 2 13b 14
Scarlet Dye 50 3 511

144
li

. While our leading article of yesterday was in the
Press, the Funds experienced a further decline, Comb
having closed at 87i To us it is evident that this
steady and progressive fall, although accelerate) at the
present nioment, has been for some time contemplated
by those who ar , in matters of financial operation, es-
teemed the most wise in their generation. We think,
moreover, that two efficient causes have concurred to
produce this effect, and that those will continue for
some time to keep the prices of three per Cents. verging
on the borders of 85, which we think their natural
limit. Those causes are, first, the cessation of the arti-
fiaial machinery by which the prices of Stock, in the
last two years, had attainei a factitious and unreason-

able elevation ; secondly, the unsettled state of Europe,
in reference to the distracted condition of Spain.
On the first point we maintain that it is utterly im
possible, in a commercial nation, abounding in industry,
skill, and enterprise—with the markets of the whole
world before it, that the profits of capital should, for any
considerable length of time, fall short of Three and a
half per Cent. The Public Funds are the first ens-

potium of unemployed capital, where, as under the
warehousing-system, it remains only until a more
profitable market is found.
The savings of income in this great Nation are in the
mass perfectly astonishing, and they all set in with a
steady current to the groat reservoir—the Stock Ex-
change. Would it be believed, although a fact offi-
cially declared in Parliament, that the small driblets,

individually saved by servants and other poor people,
and deposited in the Saving Banks, form a total ex-
ceeding a million sterling every six months, over and
above the sums drawn out?—and is it unreasonable
to*suppose that the savings of all the rest of the com-
munity, in the more opulent classes, equal in magnitude
a sum quadruple the amount ?—lf so, including the
Sinking Fund, there is an investment of more than at
the rate cf fifteen millions sterling a-year poured into

the Stock Exchange, to be counteracted only by the
demands per contra which may arise from specu-
lations in land, foreign securities, or the extension
of commercial enterprise. This competition na-
turally created a scarcity of Stock, and its never
failing concomitant time-bargains for a rise. While,
on the other hand, the late severe depression of
the Agricultural Interest, extending itself, as it
invariably does, to produce distress among the manu-
facturing classes, occasioned a total stagnation of en-
terprise, either in land or trade, while affairs bore such
'an unpromising aspect.
The country, however, has arisen from its prostrate

-

situation, like a giant refreshed. The recognition of the
Independence of the American ,Republies.combined
with the necessity of seeking employment for so great
2n overflow of capital, in speculations. of eve! y possible
description, has produced so violent a re-action, that
every channel of industi y is replenished, and therewithal
a rise of wages, and its consequence, increased prices.
The wages of that sudden augmentation of labour
must,in the first instance,come from the unemployed ca-
pital in the Funds, thereby producing a depression which
in its turn will be enhanced by tiMe•bargains for a fall ;
and thus the profits of capital may possibly, for a time,
fall even below their natural level. This inevitable
consequence has been protracted for a few months,'
perhaps, by the alleged unusual issues of the Bank,
first, in lending largely ol mortgage; secondly, in dis-
counting at lower interest ; but thirdly, and chiefly, by
lending on the security of Stock ; which last practice is
suddenly discontinued, and, necessarily, therefore,occa-
sions a forced sale of what was before only pledged.—
Those, we apprehend, are efficient causes for the present
scarcity of money, or, more properly speaking, the un-
usual demand made upon the stock of unemployed
capital. And it is self-evident, that whatever portion
of that capital is withdrawn, by so much is the yearly
profit enhanced of what remains.
Thus, as we hope, we have sufficiently accounted for
the depression of the Funds from the unreasonable ele-
vation to which they had lately attained, by accidental
circumstances. But the avidity of the Stockholders to
realise the profits of that great rise, is most obviously
the origibal progenitor of the increased speculation,
whether in land, trade, or foreign securities, and, the im-
pulse once given, the depression will naturally go on
with an accelerated movement.

The second great cause which we apprehend has in-
fluenced the Funds, is the present state of affairs in Eu-
rope, in relation to Spain. Here our cotemporaries
are at issue with us; but for very different reasons. The
Times asserts that the affairs of Spain can have no effect
on the Funds, because it would be madness in England
to interfere in any views which France may bare on
Spain, even were the latter to become a province of the
former. The New Times says, that it cannot possibly
be, that there is ground for apprehending any disturb.
ance of the peace of Europe—because (.. Oh ! most
u lame and impotent conclusion") Mr. CANNING is
absent from town, enjoying the recreation of rural
amusements; We differ toto eel° from both those
authorities, but must postpone our reasons to another
opportunity.

By the arrival of a mail from Buenos Ayres, we have
received a Me of the Argus, from the 6th of May to the
9th of June. This Paper contains several violent at-
tacks on the conduct of the Brazilian Government, in,
usurping the Banda Oriental. In the Argus of the 21st
of May, it is stated that according to the last accounts
from Monte Video, it was besieged by a regular force
under the command of Don BONIPACIO CALneaow, and
other corps, which were augmenting by the inhabitants
of the Banda Oriental, who display extraordinary en-
thusiasm for the liberty of their province.
In conformity with the resolution of the National
Congress at Buenos Ayres, of the 9th May, Don CAR.
LOS MARIA DR ALVEAR, General of the United Pro-
vinces, and Don Jose MIGUEL DIAZ VELEZ, were
appointed to the Legation to Peru.
Don DOMINGO ORO was appointed Secretary to the
Legation, which was soon to proceed to its destination.
The Government of Entre Rios has expressed its de-
termination to supply the funds necessary for strength-
ening the line of the Uraguay, which :hews that a war
with Brazil was in some degree contemplated ; indeed
it seems extremely probable; and new jealousies are ex-
cited against the Emperor of BRAZIL, accusing him of
a negociation with Portugal, 'by which the latter is to
preserve the sovereignty over Brazil.
In addition to the above intelligence, and.that in-
serted elsewhere from the American Papers, a letter has
been received from the Agent to Lloyd's, which con-
tains the following information ;

" MONTE VIDEO, JUNE 15.

es The Portuguese Admiral Lobo, le't this place to.
day to proceed to Buenos Ayres, to notify to the Go.
vernment, that if the Buenos Ayreans did not desist from
supplying the Patriots with arms and money, war
should be immediately declared against them by the
Brazils, and the River forthwith blockaded."

This forenoon we received a file of the Lisbon Go-
odie, from the Bth to the 17th instant. They state,
that the news of the Kuria recovering his absolute
authority, had been celebrated by public rejoicings at
Goa, Macao, and Mozambique. These Papers state,
that in consequence of the arrival of three French ves-
sels at Marseilles, from Alexandria, in Egypt, suspected
to have the plague on board, all vessels from Marseilles
are to be subject to the most rigorous quarantine in
Portugal, even though in ballast, and they ate to be
admitted only into the port of Lisbon. The Edict of
the Board of Heilth fixes also, as usual,• at this time of
the year, the quarantine for vessels from different parts
of the world ; those from Alexandria, not t' be ad-
mitted into any port; from the ports of Croatia, in the
Adriatic, from Corfu, the lonian Islands; Dalmatia,
and Albania, in Lisbon only, and under strict quaran-
tine ; from Naples and Sicily, eight days ; from Mar-
seilles, fifteen days ; and from the ports in its vicinity,
eight days ; from Gibraltar and Algesiras, sir days ;
from all the ports of France and Spain in the Mediter-
ranean, not specified in the edict, four days; from those
ports in English America where the yellow fever
usually prevails at this season of the year, twelve days,
(to be admitted only at Lisboa) when the cargoes are
susceptible of infection ; from the other ports, six days;
from 'the Havannah, twenty-tine days; and from the
ports of Cuba, and in the Gelph of Mexico, twelve
days ; all vessels from these ports to be admitted in the
port of Lisbon only.

The Lisbon Papers received this morning, contain an
extract from the Goa Gazette, of the Ist of January,

'which. mentions the capture, by hit BRITANNIC MA-
Jury's forces, on the Bth December, 1824, of the for-
tress of Quitur, twenty-five or thirty leagues from Goa,
in which were found treasures amounting to twelve
lacs of rupees, thirty-six bronze and iron cannon, a large
quantity of powder, cannon balls, stone and iron, swords,
musket% /cc.

A Jamaica Mail has arrived this morning, which
sailed on the 12th July. The Papers do not furnish
any news worth extracting.

At a late hour we received the French Papers ofl
Monday, and the Etoits of yesterday, by express. The
accounts from Spain are very contradictory. The
Madrid Gazelle represents BISSIIRRS as escaping from
Maranchon, the 20th inst. in the road to Arragon, with
only 20 men, and these pursued at a distance of two
leagues, by 60 Carabineers of the Guard.
The Elate contradicts the rumours that prevail in
Paris, of Doa CARLOS being arrested, and the troops
sent after BESSIIRRS having joined him. _ _

The same Journal contains an article from Coati, of
the 4th instant, which states that lIRDSCHID PACHA
had made a third assault on Missolonghi,and gained the
first fosse, but was driven from the s-cond with the loss
of 700 men. It is also said IBRAHIM PACHA bad been
obliged to withdraw from Tripolizza, where he left a
garrison of 2,000 men; and that the place was after-
wards taken by a coup do main. It is said the situation
of the Egyptian army, which has been reduced to
6,000 men, is very critical.
The Captain of an English brig, which art ived from
the Levant, is said to confirm the account of the as-
sault on Missolenghi, but is silent as to the capture of
Tsipolizaa. It is added, that the Greeks have been re-
inforced by fifteen to 18,000 men from the Islands, and
that the fleet which landed them, 60 sail, proceeded to
Missolonghi.

PARIS, AOC 29.—R41111te11, Five per Ceuta. 103 E 50e. Three per
Cents. 72f. 10e.

United States Papers to the 2d inst. have reached us,
but they contain little news, except from South America,
and that not very important.
Late accounts from Chili indicate that the unhappy
differences which have long existed there, and which
had produced a state of anarchy and distress, have been
adjusted. The sentence of death against Da AQUINE has
been annulled, and all parties had united and cemented
their new friendship by numerous banquets.
Accounts from Rio de Janeiro to the middle of June,
state, that the second expedition then preparing to sail
for Monte Video, consisted chiefly of vessels with stored
and ammunition. The transports of the first expedition,
which sailed on the 25th of May, had on board 1,600
troops. The Congress of Peru has, in consequence of
the .report of an intended attack on Colombia, passed a
decree for assisting that State with troops, vessels, and
armaments. BOLIVAR is authorized to raise by loan
three millions of dollars, to be applied to.the defence
of any part of Sinth America in which assistance may
be required.

Th. a.cousts from Buenos Ayres are to the 17th of
May. It is stated that the Captain .of the Real Pedro
had obtained possession of all the arms, and some of the
munitions of General LAVALLTA ; and the latter had
marched with 1,000 troops to attack the revolters, who
were near Uruguay.
In the address of the Executive of Buenos Ayres, at
the opening of the fifth Legislature, the members are
congratulated on the increase of commerce, the im-
proved and comfortable situation of the labouring
classes, and on the establishment of schools in the city

and country, by which correct views of government
had been introduced, and the spirit of insubordination,
which had prevailed during a long period of revolution
and disorder, almost entirely suppressed.

The interior affairs of the Confederation of the Provinces of Rio
de 4 Plata, are represented as auspicious, their independence as-
siring commercial prosperity.
W. learn from the Havannab, that General La Bonne has been
appointed Commander of the Marines. A frigate and a gun-brig
bad arrived with troops from Cadiz. The ship Fame arrived on
the 4th instant front Cadiz. The frigate Cosilda was to sail in
right days for Spain. The following are extracts :
NEW YORK, AUGUST 1.
Accounts from Monte Video, of the 25th of May, say that the
Patriots, who were in great force, and well supplied with money,
had taken Maldonado. and that there was a fair prospect of their
soon reducing Monte Video. The whole of the province of Banda
Oriental was engaged in the revolt. The Government of Baenos
Ayres had placed, as a matter of precaution, a force in the province
of Entre Rios, and it was supposed it could not avoid taking a more
decided interest in the affairs of that province. Other accounts
mention the arrival of a skip and four brigs with troops and sup-
plies for Monte Video, which had calmed the apprehensions of the
Brazilians. A schooner bad landed supplies at Maldonado, but
she was afterwards taken and carried to Monte Video.

The, Peruvian Government had prohibited the importation of all
Spaniih products and manufactures. Callao held out on the 23d
of April, but its surrender was looked for in a few days.

Much as the extreme heat of the weather has been
felt in this country, it has been much more fatal in the
United States. It appears, from the papers last re-
ceived, that the number of deaths in one week from
that cause, in Philadelphia, was 180, of whom 90 were
adults. At New York it bad been, within the same
period, 184. Even the swallows dropped down dead
in the former place. The thermometer, for nearly two
months, bad not fallen lower than 95, and was generally
at 100, throughout all the States of the Union. On the
Rid of July it stood at 95 deg. in a current of air in
the shade. In Other parts cf the country it was still
higher. On the. 16th, at Philadelphia, it is quoted
at 153 Jeg. in the sun. "No wonder, therefore," the
Hartford Mirror says—" Nobody talks of anything
but the weather : how stands the thermometer ?"-
The crops are said to suffer considerably from this
intense heat.

The Earl and Countess of Livaaroot. arrived at Brus-
sels on the 44th inst. Lord Siamonms and his family act out on the
19th for Frankfort. •
The nitwit A141.1222D0n transacted huskies: for a
considerable time, on Monday and. yetterday afternoons, at the Se-
cretary of State's Motor Foreign Affairs, in Downins-street.

lIIMw