Star.
London, England, 1822-02-21 00:00:00

PARLIAMENT AR Y PAPERS.

It appears, by a Return made to the House of Com-
mons, that on the 12th February, 1822. the Mink of
England had the following Bank Notes and Bank
Post Bills in circulation:
Bank Notes of £5 and upwards X15,784,7/0
Bank PAst Bills - - - - 1,679.120
Bank Notes under £5 - - 1,458,540

_ Total it 8,9g2,430

In June, 1821, the Total was 1:20,401,600, being
a million and a half of paper money more in circula-
tion than at pies.nt.

ESTIMATE of the PUBLIC INCOME and EXPEND!.
TURE of the YEAR 1822, exclusive of SUMS to be Issued
for the REDEMPTION of DEBT.—Ordered by the House
of Commons to be Printed, 15th February, 1822.
Actual Income for 1821 - - - £55,297,592
Add—Saving to the Customs by the transfer
of the Coast Blockade to the Navy £BO,OOO
Saving in the Revenue and other De-
partments by Deductions from Of-
&es, and for Superannuations,&c. 150,000--. 230,000

Deduct—By Repeal of the Horse Tax
French Indemnity, less in 1882
tkan in 1821 - - - 300,000
Monies repaid for Public Works In
1841 - - - - 219,000. 994,000

56,227,.599
480,000

Deduct Expenditure, including Extraordinary
Expenditure for Ireland - - -

£55,228,592
49,968,46

Surplus - - ‘5,2603,946
Charge upon the Consolidated Fund, exclusive of the Sinking
Fund.

In respect of the Dividends and Ma-
nagement of the Unredeemed
Funded Debt - - - £29,609,000
Other Permanent Charges - 2,041,000—X31,680,006
Interest on Exchequer Bills (including Exchequer
Bills on Consolidated Fund, and an Arrear of

• 1,509,000

£200,000 to the Bank) - - -
Army, exclusive of the Extraordinary Aid re.
quired in Ireland, and the Expense of Recruit-
ing and Clothing for the Regiments serving in
India .....
Navy
Ordnance

7,748,346
5,500,000
1,200,000

3liscellaneons - -
Greenwich Hospital

.

1,700,000
520,000

- 49,618,346
350,000

Total Expenditure, provided no Extra Ex•
pence tor Ireland were necessary
Add—Eatiniated Extra Expenditure in Ireland

HAZARD and Co. grateful for the increase of pub-
lic patronage bestowed on them, and for the preference given to
their old established (Aces (which they in some measure attri-
bute to their great success in selling Capital Prizes), respectfully
. .
request the attention of their Friends to a bn
Scheme of the present Lottery, which begins
It contains Five Prises of £20,000, Five
£5OO, 4300, Ste. ice. and Not Two Blanks
Prizes Sterling Money—No Classes—r
its own Fate—First-drawn Prize will
UASAILD and C. Sold in Shires ia the ye,
'arPrize of IMOD% and 16,497 a Pribe
and Co.'s CMlless, Royal Exchange-Gate,
6114, 014449694 corner of Swallow-street.

t
:

v.?

4,4

1
',. hi
I. ,

lii
t(4 H

t
..

~'~',
;i

t.:

i f

ey in some measureattri- i : , 1
ipital Prizes), respectfully i "I.:
to a brief Statement of the . ~
begins Nur TUVDDAY S— 41
Five of £2,000, others of ~.. t.
lank* to a Prise—All the
'Seery Ticket will .lecide I:.
II be £20,000 Money.— .
very last Lottery, 18,800
tar of £5,000.--Hats,RD
:late; 28, Comilla .0 ; hl t. ;;.
•street.
, .
. :

.•

I

7111 E EVEI

LONDON.

ING STAR.

THURSDAY, FEBRUARY 21. 1522.
STOCK EXCHANGE, TEN O'CLOCK.
The Market is not so brisk this morning as yesterday, all
parties impatiently waiting for the result of the interview to.
morrow with the Lords of the Treasury. We are informed
that a large holder of the Navy b per Cents. has sent a Petition
to the Lords of the Treasury, begging they would change the
hour of meeting to four o'clock instead of one, that no advantage
should be taken of the result at the Stock Exchange.—Consols
opened this morning at 781 and f for next Account, the Navy
5 per Cents. 104* : it is again stated that a message is expected
hourly from the Bank that they will discount at 4 per Cent.
The foreign Funds this morning are u follows :—French
per Cents 90 ; Spanish 5 per Cents. Bonds 59 ; New Spanish
Loan 594 ; Prussian Bonds 881; Danish 84.
ONE O'CLOCK.
The Market continues, with very little business doing. The
Bank is in a bustle, by the attendance of numerous small holders
of Navy Five per Cents. who are still selling, but to very trilling

imount.—Current prices:
Bank Stock 218 219
3 per Cent. Reduced 78% 79 78% 4
3 per Cent. Consols 781/4 7$ %
31/2 per Cent. 89% 90-4 per Ct. 97% IA 96
5. per Cent. 1011/4 1037 A 104 %
Bank Long Annuities 20 3/s
India Bonds 60s. 565. pre.
Exchequer Bills of £l,OOO, Is. Si. pre. par 3s. pr.
Ditto small ss. 2s. pre.
Coasolsfor Acct. 78 78%.

In the STAR of yesterday we announced that Lord
LtvErtroot. had sent a Message to the Governor of
the Bank of England, requesting such Bankers, Mer-
chants, and others, as are interested in the Navy Five
per Cents. to meet him and Mr. VANSITTART tOa
morrow. This message relates to one of the projects
of the present Ministers, that of reducing the interest
of the Five per Cents. as intimated by the Marquis of
LONDONDERRY in his speech on Friday last. The
Noble Marquis then stated, that there was a fund of
£155,000,000 in the Five per Cents. and not less
than £75,000,000 in the Four per Cents. the com-
bined interest of which amounted to £10,700,000
annually. " Acting," said he, " upon the great prin-
ciple of supporting the Public Credit, if the situation
of the market should once bring the Three per Cent.
Stock to such a point as to render it eligible to re-
duce the higher Stock to the level of the Three per
Cent. it was their intention to do so, by which a
saving of interest, andn consequent increase in the Re-
venue to the amountof E. 3,700,000, would take place."
Of the right of the Government in the abstract to
pay off the 5 per Cents. or any other Stock at par,
there cannot be a doubt : it was one of the condi-
tions upon which the Stocks was created : but ac-
knowledging the right we deny the power : for much
as Lord LONDONDERRY may boast of the flourishing
situation of the country, and of the confidence in his
MAJESTY'S Ministers, they cannot borrow 155 mil-
lions of money at per cent. interest in order to pay
off that sum in the Navy Fives ; and the holders are not
bound to accept a transfer of their property into any
other Stock. That the Minister may endeavour to in-'
duce fundholders to admit of such a transfer we have
no doubt; but let the holders of the 5 per Cents. re-
fuse, and the scheme of the Minister falls to the
ground at once.

The experiment of reducing a larger into a smaller
species of Stock is not new ; it was tried in 1766, on
a small scale, and found to be attended with consi-
derable difficulties. The plan was that of reducing
3i millions of 4 per Cent. into 3 per Cent. Stock;
but it was not then thought practicable to reduce
more than a quarter of the sum in one year, which
thus extended the operation over four years, and,had
a war broken out, the plan must have been frustrated;
and yet Ministers now talk of thus reducing above
150 millions of Stock at once, as if it was a mere
trifling operation.
It is said that, in aid of this projected plan of
reducing the 5 per Cent. Stock, two expedients
are to be resorted to. One is an Act of Parlia-
snent to indemnify Trustees who hold Stock for
Minors for converting it into 4 per Cent. Stock.—
The second expedient is said to be that of raking a
loan from the Bank, for the purpose of increasing
the Sinking Fund, and of creating a temporary high
price in the 3 per Cents. until the reduction of the
intezest of the 5 per Cent. Stock shall have been ac-
complished. But it does not necessarily follow that
S per Cent. annuitants are ' o become voluntary 4 per
Cent. annuitants, merely because Mr. VANSITTART
chooses to make a speculation with a loan from the
Bank at the public expense in buying 3 per Cents.
at £7B. or £BO. Besides, by every £lOOO. 3 per
Cents. the Minister buys now, he lessens his power
to pay off any portion of the 5 per Cents. either now
or at a future period.
Notwithstanding the declarations of the Ministers
of their determination to preserve faith with the na-

tional creditor, their project has given considerable
alarm to the holders of the 5 per Cent. Stock, who
are principally small annuitants, widows, orphans,
and retired tradesmen. To counteract this alarm it
may only, however, be necessary to state, that unless
Ministers do break their faith with them, they cannot
reduce the interest either of the Navy Svcs or of any
other sr.i.ies of Stock. According-to Acts of Par.
liament, under which the Stock has been at different
times created, no reduction of its interest can be
made but by the consent of the holders of it.—

Any plait, therefore, that m*y be reposed for that
purpose, must be accompanied by a notification that
lush holders as do not choose to accept the terms of-
fered ilia be paid off at par. Consequently, the only
hope die CUANCILLOR of the EXCIIEQURR can have
of being able to effect his object, must be founded
on his offering such an amount of other Stock, as may
be somewhat more than equivalent to the Market-
value of the 5 per Cents. It will be for the holders of
Stock to consider well, whether, for any specious offer
of temporary gain, they sacrifice a permanent advan-1
tage; since nothing can be more evident, than that if
even half of the holders of the 155 millions of the
5 per Cents. declare, that they will only accept their
principal in money; it will L• utterly impossible for
the Finance Minister to make the payment of so
so enormous a sum, and consequently his object, in
that case, must be defeated.

Let then the holders of the S per Cents. take this
as an unerring criterion of the terms which the Mi-
nister may now, or at any future time, offer to them
—that no terms can be worth their acceptance
which are not accompanied with the option of taking
sterling money ; and that taking that will be better
than any transfer into other Stock. If however they
accede to any compromise in exchange for their pre-
sent annuities, it will be themselves, and not the Mi-
nista, who have reduced the interest of the 5 per Cents.
The plan of the Ministers, by reducing the interest
on the Stock, is to obtain the 1 million deficient, by
taking off Is. per bushel of the tax on Malt ; if, how-
ever, the Fundholders are firm, the Ministers will
have to resort to another expedient, and may, per-
haps, however reluctantly, be at last compelled to
reduce the expenditure to that amount.

This forenoon we received a Spanish Mail, bringing
Madrid Papers to the Bth instant. The following
are extracts :

MADRID, FEBRUARY 7.
BITTING OF THE CORTES, FEBRUARY 6.

In this Sitting the Law for repressing the abuses
of the Liberty of the Press was passed : it consists of
the five following Articles :

0 1. Those writinp are declared subversive in which the sacred
and intiolabk person of the King is insulted, or which contain
maxims or doctrines which suppose hint liable to respondbillty."

A long debate arose on this Article, which some
Members thought was not expressed in terms suffi
ciently precise, and left the Judges at liberty to
decide arbitrarily, and to punish even a single word
which they might suppose insulting to the King.
M. ROMIRO ALPUZNIT spoke at great length on
the inviolability of the Royal Person, and mentioned
many cases in which he thought the notion of the
sacredness of the King's character was abused, since
it might happen that a King might be possessed of
numerous bad qualities, and even be out of his mind
and incapable of government, all which it would be
right and proper to make known by means of the
press. He voted to reject the Article, and be content
with what was already fixed by the Constitution.

M. CUESTA answered at length. He observed that
the situation of the King was very peculiar; that in
a Constitutional Government it was necessary to give
his person this sacred and inviolable character, that
all attacks against him by ascribing to him bad, or
immoral qualities, lead to other excesses, as experi-
ence has proved that as for the cases supposed by
Senor R. ♦lpuente, they could not be of any weight,
since the King could do nothing without his Minis•
ters, who were responsible; and nothing done or cons-
mended by him, otherwise than by their agency, has
any legal force.
44 2. AU those writings are seditious which propagate maxims
or doctrines, or relate facts directed to the exciting of rebellion
or the disturbance of the public peace, though they should be
disguised, and on allegories of imaginary personages or countries,
of of times past, or dreams or fictions, or in any similar manner.
" 3. Those writings are declared inciting to disobedience in
the second degree which invite it by satires or invectives, though
the Authority against which they are directed, or the place
where that Authority exercises it functions, should be disguised
by allusions or allegories, whenever the Jury shall believe in their
conscience that a certain person, or persons, are spoken of, or al-
luded to."

Some objections were made to the Article, and, on
the motion of M. MARTINEZ de la ROSA, the follow.
ing words were added :-48 As regulated by the four.
teen Articles of the Law of October 22, 1820."

" 4. These writings are declared defamatory libels which
wound the reputation of individuals, though not indicated by
their names, but by anagrams, allegories, or in any other nmener
the Jury shall believe in their conscience that certain persons
are spoken of or alluded to."

After the word individuals, M. LASARTO moved
to insert, 66 outraging their private conduct," which
are used in the Law of the 22d October; which addi-
tion was approved.
& Caricatures are subject to the same rules, classifications
and penalties, as are matted by the Law of the 22d October,.
1820, and by the present Law."

General Campo Verde entered Seville on the sth,
accompanied by the new Political Chief; Don Joaquim
Albita, amidst the acclamations of all the well-dis-
posed citizens, who were rejoiced to see an end to
the system established by the anarchists. On the
127th, there were disorderly scenes at Zamora, in
which a great number of women took an active part
Order was net restored till the 80th.

Lisbon Papers to the 12th inst. reached us this
forenoon. The following are extracts:

LISBON, FEBRUARY S. •
The Cortes having resolved that the 6th of Fe-
bruary, as the anniversary of his Majesty's Corona-
tion, shall be observed as a national festival, orders
have been accordingly issued to that effect.
Fri. 10.—The Cortes continue to discuss the Arti-

cies of the Constitution. The law: respecting the
Wine Company of the Alto Douro has' sat been 1111
gone through. Several of the Articles proposed have
been rejected, and others demanded, or sent beck to
the Committee to be revised. •
Various dispatches have been received from the
Brazilian Provinces, announcing the election of De-
puties, and ckchiring their adherence to the Con-
stitution.
The brig Maria Primuera, in 75 days fromßio
Janeiro, brings news that all was tranquil in that
city. She brings five Deputies to the Cortes, from
the province of St. Paulo.
A Decree has been published, relative to the sale
of wine of the Alto Douro, which states, that the
whole quantity of wine of the first quality is 54 569
pipes ; of the second quality, 11,214 ; and, adding
those in the magazines of Douto. and Porto, the
whole is 157,112 i pipes.—lt is allowed to export to
England 25,000 pipes to be selected from those of
the first quality, at the price 0f15,000 rees per pipe.

The Paris Papers of Monday have been received ;
the following are the only articles of importance they
contain :

VIENNA, FEBRUARY 7.

The courier so anxiously expected from St. Pe-
tersburgh, has not yet arrived. but an English courier
has brought dispatches, containing, it is said, the copy of
a Note Which the Marquis of Londonderry has caused
the British Ambassador to present at the Court of St.
Petersburgh, in the name of his Britannic Majesty,
and the object of which is to maintain peace between
Russia and the Porte.

It is added, however, that England declares its in-
tention of observing the strictest neutrality in case of
a rupture, reserving to itself power to send reinforce-
ments of troops to Corfu, and a more numerous
squadron to the Mediterranean. Persons who have
the means of knowing the opinions of our Cabinet,
assert that there is not the least probability of war.

hob,