Star.
London, England, 1831-04-27 00:00:00

POLISH FINANCES.

The public securities in Poland consist of--
1. The LeUrea de Gage, meaning a kind of hypothecation of the
land for the security of the debt, which karst de gage may be called
land loan bonds. .

This species of public funds was created in 1825, by a law of the
King and the two legislative chambers, founding on the security of in-
dividual property in land, a credit that shall never exceed sixty years of
the land-tax, and called by the name of the " Tenth," meaning the
tenth of the voluntary declaration of revenue of each individual estate.
It is an impost freely granted by the body of landed proprietors of the
country full half a century prior to the time of the law enacting the
creation of the fund : the landed proprietors at the time this impost or
tax was consented to by them, during the ancient republic of Poland,
made themselves a return of the value of their territorial possessions,
anti of the net revenues of such, granting the tenth of their revenues to
the State as a land tax, and pledging their lands and hereditament, in
all future times for the security of this tax. The total amount of the
fund, or tearer de gage, is equal to the tenth of the annual revenue of
the land for sixty years, and can never exceed that amount ; but it has
been ascertained by statistical returns, that the aforesaid declarations
made by landowners of the value of their landed property amounts
in reality to scarcely one-sixth of the present real value. The !titres
de gage bear interest at d per cent. per annum, payable half-yearly,
and are issued fur the several sums of 211,000 florins of Poland,
1,000 florins, 1,000 florins, 500 florins, and 200 florins. (N.B.
a florin of Poland is equal to 6d. sterling). A sinking fund
of 2 per cent. is also paid every year by the association of lan
which extinguishes the subscription or debt of eachindrrindeM
In twenty-eight years, and the sinking fund Is further increased
by the accumulation of the interest of the !soiree de yams that are can-
celled, and have been paid. These karts de gage are accordingly at-
compahied by coupons, renewable every seven years. All payments
made on these bonds, or kilns de gage, and their Interest-coupons (or
interest-tickets,) are made in silver, coined at the rate of 8888-125
florins for one Cologne roam of pure silver. The !three de gege pass
free, and without any fotniality, from one person to the other. They
are guaranteed by the mass of property which the administration, or
association of landowners, hold on from all of their own class.—
The property pledged is by law obriVileto be insured against fire; the
administrative authorities of the Association are elected by the body of
the landowners, and are independent of all control of Government, who
only elect an agent to superintend the due execution of the law relative
to the business, and serve as guarantee for the confidence of the public,
and protection against abuse of any kind. The cancelling of the
tithes de gage is hied by a drawing, as of a lottery, and are off at
par. Up to the period of the revolution, leUres de gage for sum of
not more than 3,000,0001. sterling were issued, but it is to be consi- '
dered that at least the third of that sum belongs to public institutions
sod foundations, to religious endowments, to the depot of minors' funds,
and sundry other establishments, who have no inducement to present
the hares de gage to the drawing for the cancelling of them, not hav-
ing any better means of replacing the money on so sure sad good a se-
curity. The cancelling, therefore, bears principally on the ether two.
thirds of this paper, now hi the hands of individuals of different
countries. Up to the Ist of October, 1828, there bad been ancelled
about 1-11th part of the sum issued in these bonds,—say about
11,000,000 florins.
'The cancelling, by payment at par, prevents the Writ de gage
rising beyond their par, or nominal value, but the security is so great,
the tam of six years for the cancelling of them, and the regular m.
silent of interest so teligiously observed, that, before the fiaandsl re-
action (=manned by the revolution in France, the lenses de gage stood
in the h.oney market of Warsaw, Berlin, Frankfort, Ramble*, &c. at

pur,i

Y

' N.,

96 pee sot. Jost Whey the Polish est dean disk oho vote es the
sun kom at 711 per Oat t sea dos ilinewdlike imbue pie-
Demes-ii jai km adMisi by the pries lisving•Tiellt sewed doss two
to lbw per not. The Wes el this isseurity is, in fact, esdeoe of
political events, having wades in common with the financial budget of
the kingdom—quite usesesmeled with the question of pssee or oar, ew
the atm*. of • It Is, therefore, not i 0 be woodend at
that it la ppdared by Iks capitalists, who are good judges of the secu-
rity it hdN out to them, both foe the principal and the regular dis-
charge of the annual nook arising from it.
2. The not public hod of Poland arises fres the public debt. This
is recorded en the ledger of the stets, or Grand Lien do is Done "ob-
lique, and the revenue applicable to its exigency results from the an-
nual budget, which makes such revenue amount foe the present year to
three millions sterling. The amount of this is entire, sod espied.'
for any purposes of debt, with the exception of a ken dale* MI mil-
lion sterling furnished by the house of & A. Frankel, ef Warsaw' in
the year ma. This loan is represented by obligations se bends of 300
forms each, to be catiaguislud in 26 years. There are 147,000 of
these obligations or boob, divided into 2,940 series, sad $0 number.
each sales. Rory yew, so the Ist day of March, 118 to 118 of these
series are drawn, for the motes ti being uncoiled by paying than if,
with the premiums attaetied to Nei of the mile as gain premiums.--
Bach number is of conies entitled to bessimbeased its original nominal
value at least, together with interest, Air the rate of four per cent per
annum, from the Ist of April, lel& The highest premium of any of
the seeks is 18,9091. seeding; al payments are made in silver, after
the Me of Ile 18.11ltbs lodes be the Cologne mare of pure silver.
it is worthy of remeek, that the annual drawing of the numbers
of the seeks of this loss to be paid off took place this year at the
Bank of Poland during doe two glorious days of the battle of War-
saw, and while the thunder of the artillery was proclaiming the
noble resistance of Poland to its oppressors. These obligations,
which were at 150 per cent before the French revolution, and at
109 per cent subsequent to it and before the Polish insurrection,
are now selling, on various money markets of Europe, at 138 per
cent ; foe those bonds or obligations which have been drawn to be
wttpi
cancelled this year, with the benefit of suchpremiums as a further
drawing may entitle them to, and for obli of which the an.
ceiling shall only be decided by the dra in 1802, the prose*
price is 96 per cent. As to this loan made with J. A. Fraakd, it
is to be observed, that if the conscience of the patriotic !minden
of Poland could in any manner be compared to that of the raw.
chiral revolution in Spain, and which there upset die valid:Zia( di.e
Cones bonds, Poland might have quoted a better tide to le•
self from her debt than ever Spain possessed, inainancli as the
kel loan was merely authorised by an ordinance of the lievereiga, eddy
to carry on a war of Russia against the Turks, and, conwerg to the
chartered rights of the nation, the two legislative &webers never hie.
kg been consulted. But Poland has acted in a NON worthy et her
regeneration, in declaring, that although the powers el Moen* Ordi
ought to combine to punish a King who betrays his sodas, no pewee or
person on earth who shall have placed confidence in the Polbh nation
shall ever have to regret having trusted its good faith;{ and it is truly
characteristic of this proper feeling as a nation, that wldletketb=s
the only borrower, and the true debtor for this loan, was
with his cannon at the gates of Warsaw, and sealing his shoes
dishonour with the blood of his barbarous hordes, at tho,e gates of that
Warsaw where two years ago he outraged heaven and the hbtery of the
world with oaths which now attest his perjury, Poland boom the
signature of such a king, and pays the debt he contracted within her
boundaries.

II~!~'~'

. • .

Mr. Alley—Aye, be add ft in a 'she, end in good humour ? Wk.
nses—Rewedy we.
Mr. Seel gated diet be had a warehouse nem dew to Mr.
mid bed seen Wean by Midi en Sunday meeeniege between ninasein
ten eels& The ober Wawa did the same.
II& leas" a bailor, stated that be bed had frequent aainiabni
widt Mr. Aida two or Oise yaw ego, as the Christian ruse. (A
larigtn) Ma Saes @midis Wisest of several religions, Ant be had
AGM be tbot was ymaibil Assumed way to banes, awl AM be
wan s Mabetwilis td that nansit. pod beaghter.) Mr. /Wen
means was sisal by Ma to be MOM spelt the soma mow
tiontbiksi et >ti As Ae As velem wbidi witness pro.
dm& wee, tbst hs vendee abould sit naked we dad,
(lasi laughter.) He deeded religion.
der.gAlley— se It net MOO
Wltnees—l
DU net we the jeke.
Mr. Alley—DU you lam Mil to be a Mahometan ? •
Witness—l believe be Null besoyeing.
•
Mr. Bodkin—That is ay awe.
Mr. Alley—l ten WI SSO 'bagmen to the excellent chainifistitliq
client, but I deny tbe=lialen sod authority of this Own, end
dell net call eingb w
Aldermen Ferebeedwa.-Is k wesib yen while to address the Condo
If you deny'Yes
its *Wisdom mid @whisky?
Mr. Alley , fiw ft doll not be said in another place that I did
not Urge thy —client's awe to dis Craft to every respect.
This ease wee then edjsweasil. sod will be concluded on the next
Court day.

LAW REPORT&
COURT OF CHANCERY—Aran. 26.

CAMBRIDOIC ELICTIOL

The Luau Clesercxxx.oi took his seat at twenty minutes past ten
o'clock. On entering the Court his Lordship said be had seen his
Honour the Vice-Chancellor, who had suggested to him the propriety
of that to which be entirely assented, namely, that as so many Gentle-
awn m this Dar were interested in the ex ae of the elective franchise
for Cambridge, and as the writs for the exercise of that franchise had
issued for Tuesday next, neither this nor the Vice-Chancellor's Court
shield sit on Tuesday and Wednesday next
COURT OF COMMON PLEAS—Arun 26.

DAVIS V. COZENS._

nit Wes se smite on a promissory note, tried on Thursday lest at
OMNI^ buss Mr Justice Boaanquet, in which a verdict was re-
aming., the *intik .. , damages 401. Mr. Element Jowas now ap-
plied thea stis to show those why this verdict should not be set adds
sad aam trial mode, en the ground of a misdirection of the Jodie in
point of law.
It apposed that the dishwith," who is • groat at Bristol, had, In
11129, athipted the bill Is torties, Math was for MN. at two months,
hr them et poem of the sun of Syr, since bankrupt. While
this bW was iellifto Ryerbad onsies kr grocery goods, for which
be applied se ***MC to wham he was already Indebted, who,
however, semi to supply him with any, without security for the
payntsol. /fryer thwt left the aM is guard= with the plaintiff, with
a pee ite to gybe it with a teeth me. He, however. failed in so do-
les, aid *lardy aka frees= bethampt. The plaintiff, therefore
Weak this action to maw the etheset of the bill, and the jury bad
given a verdict in his &ewer
The Court were of 'pinks tilme thins WM coldest rounds for
granting a new trial, and the nth was *mhos gloated.
POPE AND OVUM V. SALL
This was an action brought by the plaintifh, as pariah odious,
against the putative father of au illegitimate child, upon a bond given
by him to secure the payment of a certain weekly allowance to the
parish for the maintenance of the child.
It appesred upon the trial. which seek plassiketare Lord Chief Jus-
tice Vidal, at the London ditties, that the ads, of the child being
dead, the child had been for sane time Is the possession of the grand.
mother, to whom the peridi peid a certain weekly sum
for its support The delbethat, on Wag applied to by the
parish, refused to pay any Meg farther towards its maintenance,
offering to take it hens, aid to support it himself. This offer
was not weeded to by the parish, neither *NOM the grandmother part
with poseawdra of the child. Under these thownsetenen, the action
was brarght te recover certain arrears of the wieldy allowance due to
the parish due the ithedant, for which he boil even his bond ; and
it was misted en the ground, that as he was beth willing and able to
take hens the child and support it, thepthh wow not entitled to re-
cover. These were these pleas to the asheadwa, on two of which there
was a mast for the phdatiffs, and on the third dosetwu a verdict for
the dettrist
• this bark* hen &kW ea • fanner by alliks ee the deka&
see le thew sense why jedigmeth &odd set be eased gaserally ter
piss,
setwill the weak kor the tisikethot es lbw
piss, the Nee ems on fa septheth today, the Ws tondo
Wog, whether or set the father amine& Mk as his bad to the pa-
rith, alter be bed WWI to tithe her the child, be being its &cum-
soma which enabled him le melds the ke appert.
The Cann, est berths lie. iletjams B. lowa en behalf oldie de.
isies. ask Mr. iledeem Hewes at the part of the parish, took
time le orsibke disk judgment.