Star.
London, England, 1831-02-15 00:00:00

N°. 13,709.

TUESDAY EVENING, FEBRUARY 15, 1831.

LITERATURE.

History of the Bank of •England ; with as Examination of the
Question as to the Prolongation of the Exclusive Privi'eges of that
Establishment.
The very useful object of this tract is, to lay before its
readers a brief view of the history and transactions of the
Bank of England, in so far as they are of a public character,
and to inquire into the expediency of prolonging the Bank's
exclusive privileges for an additional term of years. It is
not official, but it may be regarded as proceeding from the
connections of the Bank, and as a vindication of that estab-
lishment. Some passages will illustrate the reasonings of
these parties.
" The iaaners of paper may, by over-issuing, depress the value
of the whole currency, gold as well as paper, in the wintry in
which the over-issue is made ; but the moment that they do this, gold
begins to be sent abroad; and pipe; being returned upon the issuers
for payment, they are, in order to prevent the exhaustion of their cof-
fers, compelled to lessen their issues ; and thus, by raising the value of
the currency stop-the drain for bullion.
" It Is absolutely imperative upon Government to interfere, to pro-
tect the interests of those who cannot protect themselves, either by com-
pelling all individuals applying for stamps for rotes, to give security
for their payment, or, by making sure, in some other way, that they
have the means of relying them, and that the circulation of the notes
will be a benefit, and not an Injury to the public.
" A security of this sort has been exacted in the case of the Bank of
England ; and the whole 14,688,0001. lent by the Bank to Govern-
ment, must be sacrificed before the holders of her notes can sustain the
smallest loss. The system of taking securities having been found to
answer so well in the case of the Bans of England, is a powerful argu-
ment in favour of its extension. Were securities taken from the coun.
try banks, their ultimate failure, in the capacity of banks of issue,
would be rendered impossible; and a degree of solidity would be given
to our money system, which it is idle to expect it can ever attain, so
long as it continues on its present footing.
" The unjust liabilities imposed upon the Bank of England by the
existing system, place her in a situation of great difficulty and hazard.
They oblige her to provide a supply of coin and bullion, not for her
own exigencies only, but for those of all the country banks; and what is
harder still, they expose her, to be deeply injured by any misconduct
on the part of the latter, as well as by the distress in which they may
be accidentally involved. In consequence, her free action is at all
times in some degree impeded ; and her power to render assist.
area to the banking and mercantile interests in periods of dis-
credit, is materially diminished. The country banks keep but a
small supply of coin in their coffers. They are all, how-
ever, holders to a greater or less extent, of government securities; and
whenever any circumstance occurs, to occasion a demand upon them far
coin, they immediately sell or pledge the whole or a portion of their
stock, wry the notes to the Bane to be exchanged, and then any the
specie to the country. Hence when any suspicions are entertained of
the credit of the country banks:, or when a panic originates amongst the
holders of their notes, as was the case in 1793 and 1825, the whole of
them retreat upon the Bank of England, and 700 ter 800 conduits are
opened, to draw off the specie of that establishment, which +nay thus,
it is evident, incur the risk of stoppage without having done any thing
wrong. It was not the drain for gold front abroad, but the drain for
gold from the country, that nearly exhausted the Bank's coffers in
1825, and forced her to issue about a million of one and two pound
notes. The currency cannot possibly be in a sound healthy state,
while the Bank of England, and, throu,th her, public credit, are placed
in so perilous a situation. And as nothing whatever is gained by the
present system, as it is productive of great insecurity ard expense to all
parties, without having a single countervailing sdvar tage to recommend
it, it should certainly be put an end to, by making Bank of England
paper legal tender for the paper of the country banks."
" This great establishment, which has long been the pri cipal bank
of deposit and circulation, not in this country only, but in Europe, was
founded in 1694. Its principal projector was Mr. William Paterson,
an enterprising and intelligent Scotch gentleman, who was afterwards
engaged in the ill-fated colony at Darien. - Government being at the
time much distressed foe want of money, partly froi.: the defects and
abuses in the system of taxation, and partly from the difficulty of bor-
rowing, because of the supposed instability of the revolutionary esm-
blishment, the Bank grew out of a loan of 1,900,0001. for the public
service. The subscribers, besides receiving eight per cent. on the sum
advanced as interest, and 48001. a year as the expense of management,
in all 100,0001. a year, were incorporated into a Society denominated
the Governor and Contpany of fix Bank of England. The thane'
is dated the 27th of July, 1894."
" The Corporation is prohibited from engaging in any sort of
commercial undertaking, other than dealing in bills of exchange, and
in gold and sliver. It is authorized to advance money upon the security
of goods or merchandise pledged to it ; and to sell, by public auction,
such goods as are not redeemed within a specified time.
" The Charter of the Bank of England. when first granted, was to
continue for eleven years certain, or till a year's notice after the Ist of
August, 1706, The Charter was further prolonged in 1897. In 1708,
the Bank having advanced 400,0001. for the public service, without
interest, the exclusive privileges of the were prolonged
till 1733. And In consequence of variousC°37:sinteita:made at different
times, the exclusive privileges of the Bank have been continued by suc-
cessive renewals, to a year's notice, after the Ist of August, 1833. The
lost renewal was made in 1800, by the act 40th Geo. 111. cap. 28, in
masideranoa of an advance by the Bank to the public of three millions
fir six years without interest."
" The Bank of England has been frequently affected by panics
amongst the holders of is notes. In 1745 the alarm occasioned by the
advance of the Highlanders under the Pretender as far as Derby, led to
a run upon the Bank • and in order to gain time to concert measures
for averting the run, the Directors adopted the device of paying in shil-
lings and sixpences.
" During the tremendous riots In June, 1780, the Bank incurred con-
siderable danger. Had the mob attacked the establishment at the com-
mencement of the riots, the consequences might have proved fatal.—
Luckily, however, they delayed their attack till time had been afforded
for providing a force sufficient to ensure its safety. Since that period a
considerable military force is nightly placed in the interior of the Bank,
as a protection In any emergency that may occur.
" The ear 1797 is, however, the most important epoch in the recent
history off the Bank. Owing partly to events connected with the war
in which we were thenongaged—to loans to the Emperor of Germany—
to bills drawn on the Treasury at home by the British agents abroad—
and partly, and chiefly, perhaps, to the advances most unwillingly made
by the Bank to Government, which prevented the Directors from hay.
ing a sufficient controul over their issues, the exchanges became unfa-
vourable in 1795, and in that and the following year large sums in
species were drawn front the Bank. In the latter end of 1796 and the
beginning of 1797, considerable apprehensions were entertained of ht.
vasion, and rumours were propagated of descents having been actually
made on the coast. In consequence of the fears that were thus excited,
runs were made on the ptovineial hanks in different parts of the coma.
try ; and some of them having failed, the panic became general, sew
extended itself to London. Demands for cash poured in upon the
Bank front all quarters ; and on Saturday, the 25th of February, 1797,
she had only 1,272,0001 of cash and bullion in her coffers, with every
prospect of a violent run taking place on the following Monday. In
this emergency an order in council was issued on Sunday, the 24th, pro-
hibiting the Directors from paying their notes in cash until the sense of
Parliament had been taken on the subject. And after Parliament met,
and the measure had been much discussed, it was agreed to continue the
restriction till six months after the signature of a definitive treaty of

peace.
•` Parliament being sitting at the time, a Coalmines was immediately
appointed to examine the affairs of the Batik ; and their report put to
rest whatever doubts might have been entertained with respect to the
solvency of the esublishment, by shewing that at the moment whets the
order in council appeared, the Bank was possessed of property, includ-
ing the debts from Government, to the amount of 15,613,6901. after all
claims upon it had been deducted.
" A great diversity of opinion has been entertained with respect to
the policy of the return to the old standard, in 1819. By one party it
has been represented as a wise and politic measure, they contend that
Mr. Peel's Act not only put an end to those fluctuations in the value
of money, which bad previously been productive OP great mischief,
and gave effect to the solemn engagements into which the pablie had
entered with the national creditor, but that it did this without riding
anything material to the national burdens. But another, end perhaps..
more numerous party, take a totally different view of this measure;
they contend that the public was not really bOund to return io cash
payments at the old standard at the termination of the wart tint the
return has very greatly enhanced the value of the currency; and that
this enhancement, by adding proportionally to the fixed burdens laid
on the industrious classes, has indeed been most injurious to their in-
terests."

PRICE 7n.

The extent and diversity of the mischiefs can neither be
enumerated nor described--and will only he duly esti-
mated when us an effect, the commerce of the country has
departed to America, France, &c. In truth, as to any
British interest, it has already departed : for though cirried
on, it is without profit to merchants and manufacturers, and
does not afford subsistence to the operatives. Will nothing
short of utter and universal stagnation satisfy those who
live and fatten on annuities, sinecures, pensions, die ?
6` In order to guard against a recurrence of the wide-spread mischief
and ruin, produced by this and the previous bankruptcies of the coon.
.tcesartnere try banks, it was resolved, in 1828, with consent of the Bank of
England, to make a change in the law of 1706, Braking the nurnbet
of is banki establishments to six only. And it waste
icily enacted, tisatheaosferth any number of partners mlOt form
einsdres into meociations, to carry on the business of Issnkftig, any
wbcre not within 66 miles of London. Ihe Directors of the Bank of
England came, at the same time, to the resolution of establishing
trees in some of thorneipal WWII': and, at this moment, branch.
are established in louorster, Manchester, Birmingham, Leeds
Liverpool, Bristol, Exeter, Newcastle-ots-'fyne, Bull, Norwich, &c.'.

This apologist of the Bank and the Peal System, then
ban the hardihood to assert, that these branches have been
useful. We should be glad to know to whom, for they are
merely the laughing stock of the country.
" The greater part of the paper of the Bank has generally, indeed,
been issued in the way of advances et hems to Government, upon me-
curity of certain branches of the renew, and la the purchase of Ex-
chequer bills and bullion ; but bee inns damask the medium of dis-
counts to individuals have, notwitheionibobsen tioneldemble. Amens
the papers laid by the Bank beim IPmellammt in 1797, was a souls of
the cast and bullion in her cones during every quarter of a year, for
several years previous to the restriction.
Cash and Bullion in the Bank, Bills Discounted, and Advances to
Government.
Cash and Bal. Bills Aver. Advance
Dates. Hon in hand. discounted. to Government.
1793 September £8,836,000 £2,065,000 49,4116,780
1794 September
1795 September 5,792,000 1,887,000 10,197,4100
17106 September
" Subsequently to 1797, the advances to Government were still
larger. They were, during the five years ending with 1818, as follows
1814 ... A 30,149,000 11817 .. ..C27,347,000
1915 26,494,000 1818 ... 28,061,000
1816 ... M,541,000
" In 1819. provision was made for reducing the amount of these ad-
vances ; and they are not at present, excluding the advance on account
of the dead weight, much above a third of their amount in 18I& It
should also be observed, that during the greater part of the war the ad-
vances were not nearly so great, and did not, indeed, reach eighties
millions until the latter part of 1811;
" In point of fact, however, a very large part of these advances has
been nominal only, or, which the same thing, has been virtually can-
celled by the balances of public money in the hands of the Bank. Thus,
from 1806 to 1810, both inclusive, the average advances to Government
amounted to 14,492,0701. But the average balance of public money in
the possession of the Bank, during the same peeks', amounted to about
11,000,0001. so that the real advance was equal only to the difference
betwe en these two sums, or to about 3,500,0001.
" It was agreed in 1807, that the Bank should,' in consi-
deration of the advantages derived from the public balances, continue
the loan of three millions' made to government in 1800 for six years,
without interest, on the same terms, till six months after the signature
of a definitive treaty of peace. In 1816 this sum was finally inanporated
with the debt due by government to the Bank. at an interest of dam
pa cent. Tn 1818 the public balances bad fallen to arm mildew;
and they have been still further reduced, in consequence of memo=
that were then adopted. In 1825 they amounted at an avenge as
5,247,3141. and in 1829, m 3,882,6521.
" Previously to 1786, the Bank received an allowance on account of
the management of the public debt, that is, for trouble in paying the
dividends, superintending the transfer of stock, &c. of 5621. 10s. a mil-
lion. In 1786, thb allowance was reduced to 4501. a tnillion, the Bank
being, at the same time, entitled to a considerable allowance for her
trouble in receiving contributions on loans, lotteries, &c. This, how-
ever, had been long regarded as a very improvident arrangement on the
part of the public ; but it was acquiesced in till 1808, when the allow-
ance on account of management was reduced to 3401. a million on 600
millions of the public debt; and to 3001. a million on all that it ex-
ceed that sum, exclusive of some separate allowances for annuities, &c."
"In 1803 the Bank lost, through a fraud committed by one of her
principal cashiers, Mr. Astlett, no less than 300,0001. And our readers
are all aware of the large sums she recently lost by the forgeries of
Fauntleroy the banker.
" Besides the transactions already alluded to, the Bank entered, ea
the 20th March, 1823, into an eagsgement with goventment
with respect to the public pensions sad annuities, or so they
have been more commonly termed the dead weight. At the end of the
war the naval and military pensions, superannuated allowances. Ike.
amounted to above five millions a year. They would, of course, have
Men gradually lessened and ultimately extinguished by the death of the
perdee. But it was resolved, in 1822, to attempt to spread the burden
equally over the whole period of forty-five years, during which it was
calculated the annuities would continue to decrease. To effect this pur-
pose it was supposed that upon Government offering to pay 2,11141,41101.
a yam for forty-five years, capitalists would be found who would under-
sake to pay the entire annuities, according to a graduated sadm
timely determined upon, making the first year a payment of 4,999,9991.
and gradually decreasing the payments until the forty-fifth aid last
year, when they were to amount to only 300,0001 This suppeddon
was not. however, realised. No capitalists were found wWiog to enter
Into such distant engagements. But in 1823 the Bank aped, am UM.
diden of receiving an annuity of 585,7401. for forty-four yarn, aim-
owing on the sth April, 1823, to pay, on account of the pensions, lke.
at different specified periods, between the years 1823 and 182$, both in-
elusive, the sum of 13,089,4191.
" The Bank discounted private bills at five per ant, during nearly
the whole period from her establishment till 1824, when the rate
was reduced to 4 per cent. In 1826 it was raised to 5 per ant;
but was again reduced to 4 per cent. In 1828, at which it continues.
" Previously to 1759, the Bank of England issued no notes for less
thin 201. She began to issue 101. notes in 1759; M. notes in 1793;
and 11. and 21. notes in March, 1797.
The question as to the prolongation of the charter of the bank, is
one of the very highest importance. Its decision cannot fall materially
to effect the interests of the public as well as those of the Bank Cot.

potation.
" It is universally admitted that, under the circumstances in=
we have only to choose between the Bank of England and a
Bank, or a Bank established by Government, and responsible only kf
it. Those who argue in favour of the establishment of a Natiosal
Hank, rely principally on the saving which they think it might be sip&
to produce to the public. The interest of the capital 6f 14,088,0001
lest by the Bank of Ragland to Government at 3 per tent. amounts
to 410,0001. a year, there being besides, u already seen, a sum of about
260,00111. a year paid: to the Bank foe managing the public debt ; and
it is coincided that were a National Bank established, both these sums,
satessdils together to 700,000 L a year, might be :laved to the public.
It haw, however, that the stamp duty of about 80,0001. a year paya-
ble by the Bank of England. which might probably be. estimated at
300,0001; making together 380,0001. must be deducted from the above
sum or/00,0001; and we believe we may safely add to the deductions to
be made from the &apprised gains, a futher sum of 100,0001 a year for
the expense to which the National Bank would be put in procuring
supplies of bullion and coin, and in regulating her loans; so that the
entire gain resulting from the supposed elapse could not amount, on
the most exaggerated estimate, to above 328,0001."
Amount of Bank-notes in cireulatkm airy ten years, from 1800 to
1830 ,
1800—February 31
August
1810—February sll
_ _
14;46;176
118,1111111,100

NO' ••• I/ moo • ••••••••• ••
1820—Koromy 116 ...... _
August is
1830—February 26 . .............
These details will qualify our readers to judge of the bank
qUestion in the discussions likely to arise about the renewal
of the charter. The author writes as an advocate of the
Bank, and his book in that interest has great merit, candour,
and perspicuity.

PARLIAMENTARY REFORM.
Immense public meetings took place last week at Leeds
and Halifax, the most populous and intelligent districts of
the kingdom, when a aeries of resolutions were passed
unanimously, in favour of reform in Parliament, and vote
by ballot. In truth, all the great meetings have decided
for ballot ; and its admission is indispeusible, if the wishes
of the people, and, we might add, if common sense govern
those who ate to put forward the measure. Lord John
Russell ought to be made to feel that any compromising,
half-measure, such as he has heretofore advocated, w tit t uin
his fame and the ministry.
Halifax, Wolverhampton, %Yalu], Shields, Leeds, Man-
che-ter, Dudley, Ashton, Stockport, Sheffield, Birmingham,
have now put in their claims to representation, and owns
seeking the distinction, will of course be preferred. W.
wonder that nothing is heard of Loughborough, Chester-
field, Flolvwell, Bromegrove, Henley, Kidderminder,
Hinckley, Barnsley, Huddersfield, (icole, Brighton, Wor-
thing, Margate, Rametpte. Mlrylebone,Greenwich, Graves-
end, &c. &c. The Cornish borougfii *ad towns, who
know so much of the abuse s, have been laudably enetg
Parliamentary Reform, now so openly and meritoriously
ad:ocated, was in 179'2—.3, held by the Pitt administra-
tion highly seditious. In those years Holt, of Newark
was sentenced to two years' imprisonment for printing the
Duke of Richmond's Letter on Reform ; Phillips, of Lei-
cester, to eighteen months, for vending another work on
the same subject; and Winterbotham, a Dissenting Minis-
terof Plymouth ; for two years, for reflecting on the co: -
ruptione of Parliament in a sermotr; Gilbert Wakefield to
two years, for a pamphlet on the same doctrines.
Vaughan, Master of the Grammar School at Leices
ter, was prosecuted to destruction, even to death, by th
close corporation of that place, for reprinting Cowper
on Loyalty and Porteous on War. The Dean of St. Asaph also
was prosecuted for a dialogue on Parliamentary Reform.
Muir, Palmer, Gerald, Margorot, and Skirving, were at
Edinburgh transported for 14 years as mere advocates of this
very reform; and even the famous high treasons of Hardy,
Tooke, Thelwall, &c. had no object but Parliamentary Re-
, form, which the constructive law of a venal Judge sought to
make treason ! Prosecutions and punishments made, Loa -
ever, no converts, and changed no opinions; but on the con-
' Crary, they proved the weakness of the cause which they
professed to support by irrational means, and by re-actiou
produced the results which we witness in 1831 !

(From the Limerick Chronicle of February 9.)
The head.quarters of the 90th Light Infantry arrived at Bpithesd on
Meoday, in the Amity transport, from Corfu, after a period of ten
yeses' service up the Mediterranean. The following officers have al.o
come bane r—Major Dixon, Captain 0. Wilson, Lieutenant H.
Ensign E. Eyton, Dr. Hathwaith, Quartermaster Maitland
and fam y.
The order was at one time actually given for the reserve companies
of regiments serving in the Mauritius to proceed forthwith to join at
bead.quartas, but subsequently rescinded, and the 87th Irish Fusileers
ordered in their stead.
Lieutenant Collis, of the 99th regiment, returned home from the
Mauritius in the Tweed frigate, commanded by Lord John Church-
bill, a few days since, after an absence front his native country of
more than ten years. This officer went out with the 83d regiment in
1819, to the Isle of France, and was subsequently promoted Into his
present corps.
Captain Constantine Yeoman, of the 89th Reserve, has returned from
leave of absence in England, and resumed the command and payment
of his company, at Clare Castle.
The Reserve Companies of the loth regiment have obtained upwards
of thirty excellent recruits from the immediate vicinity of Clare.
The 80th regiment is still recruiting at Ennis.
Tapper Toohey, a fine-looking man, and a notorious pugilt.t, was
lately enlisted at /anis, by the party of the 50th regiment stationed
there, and on joining the corps at Templemore, knocked down a co.
loar.serjeant, and otherwiseomiscoodacted himself, for which he re-
ceived 250 lashes

The 2d West India regitnentis ordered to embark at Ream, for the
Honduras. 3
Leammala cobasi I. Reed, wbecommanded the fifth:Light Infantry
le appointed to the command of the 14th regiment, sad Lieut.. Col. T.
Renew, from half-pay of the Coldstream Guards, is appointed to co:, •
mend the 88th.
Captain G. Flacons, half-pay, is appointed Military Secretary to
Maim. General Sir -Willoughby Cottos, at Jamaica, vice Brevet Major
Has, half-pay.
Major J. C. Smith, balf.pay, is appointed Brigade Major in the
western diftriet, bead quarters, Armagh.
The following appointments have been made on the general recruit.
ing establishment in both weenier :—Lient. Plunkett 84th regiment,
to Londonderry; Lieut. Tiller, 99th regiment, to Cavan; Lieut.
M•Leed, King's Royals, to Edinburgh ; Lieut. Leslie, 4241 Royal Mgh-
lenders, to Aberdeen Lieut. Pickthorn, 78th regiment, to BAWL
Lieut. George Francis, Adjutant to the Bristol recruiting district;
Lieut. Lindner, frith regiment, to Racial • Lieut. Edwards, 98th regi-
ment, to Leicester ; Lieut. Lewis, King's loyal*, to Exeter; and Limn.
Gleeson, 90th regiment, to Devises.
The following are the new appointments In the ordinance depict-
mentst—Pri —a4pal Sterekeepes, Hon. Capt. H. Duncan ; Secretary to
the Master-Grano', Lieut. Colonel Cooper; Aid-de-Camp to the
Mesta General, Lieut. Col. C. Yorke; Secretary to the Board of Ordi.
nonce, Richard Byham, Esq.
SMALL-Pox avfnirs•rtort.—The attention of
Parliament, and the Corporate Medical Authorities, seems
to be demanded to the continually multiplied eases of Small-
pox after vaccination. Within a few years after the intro-
duction of vaccination, the occasional cases of variola were
explained away; and though these led to doubts of security,
yet hope banished fear, and suspicion was laid asleep. 'But
every week and every day now afford cues of severe small-
pox in persons in mature life, who thirty years ago were
vaccinated by Dr. Jenner and his immediate friends, in
which the vaccine pustule passed through its regular stages
to the complete satisfaction of competent and experienced
inoculator.. There is, however, now no neighbourhood
where the subject is not awakening attention, and few fami-
lies in which severe, often afflicting, and even fatal cases of
small-pox are not occurring. In short, in every society and
family circle, the subject commands attention, and is a source
of inquietude ; and it is no longer to be dissembled, that
equivocation and palliation are opposed by facets which forbid
respect to them. If vaccination is only a temporary secu-
rity, let that doctrine be formally promulgated and the ope-
ration be repeated. If the spurious sorts are so ambiguous
es
to deceive, let that point be fully investigated. Or if
some oonatitations are secured and others not, accurate dis-
crimination ought to determine the differences. The writer
of this paragraph had a large family vaccinated by Jenner,
Woodville and Ring, yet one of his sous, vaccinated by
Jenner, not long since, suffered a severe attack of natural
small-pox in his twenty-fourth year ; and his attention being
thus drawn to the circumstance, he found it was an occur-
rence known to the whole Faculty. Parliament having
sanctioned Jenner's discovery, and bestowed on him munifi-
cent rewards, seems to be the proper authority to conduct
this iDquity ; if not, then it would be a fit duty for either of
the Royal Colleges. But whoever does it, it ought to be
done, and at once.

LOW Melbourne has sold his house in Whitehall to Mr.
Apr Ellis for 35,00Q1. The house was put into its•present
state for the Duke of York, who, in consequence of its being
without a court-yard, exchanged with Lord Melbourne for a
manifioo in .Picnadilly, the prevent Albany.
The family of the Duke of Beaufort hare, within theke
few days, been plunged into deep affliction by des unexpected
demise of Lady Isabella Ann Kingman., their Graces'aixth
daughter, a highly accomplished and beautifullyourig lady,
who dxpi;P osiato 2d instant, at her noble father's. seat,
•Badorititoh. Hie ladyiliip, who war in her 23d year, 'wad
She wife of Tlessas'Henry IClagtcote, F.sq. if3lllnptsore
Castle, to whom she was married in April 1928. Lady
Isabella was niece to the Marquis of Stafford, and Lords
Charles, Norberne Berkeley, Edward, John, and Fitzroy
Somerset.

iiH

t~~
i 11
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k,

PUBLIC
k Siock, 201 202
india Stock,
India Bonds, 15
London Docks £59 101
St. Catherine's.X7B lOs
City Gas, £l9O
Bank of Scotland, £167
British Lint-n. 4350
Grand Junction. £343
L:eds,

STAPLES OF BR!'
Conon ( Liv.)—Sea bland, ltd
to 1201 ; N. Orleans, 611 to ad.
Woos. (Lon.)—Saxony prima, 33
to 5s ; Austrian prima,2l to 46_,-
Set; iVI3. 2s Od to 24 ; South
Down, 12 to 15 ; Blanket, 7 to 9.
Slut. thrown—Piedmont White,
..;7s to 456 ; yellow slack, 24s to
27s ; Modena raw, 14$ to 16s ;
Bengal, los 01 to 15s ; China,
13s 6d to 17s.
FLAX.—Riga, £52; Antwerp, £5O

to £65.
I now— Pigs, £4 lOs Od to £4 15s ;
Bars, £6 5s Od. to £6 lOs Od;
Swedish. £l7, to £l5 10s.
COPT, St--XB7 to £BB Os; South

Amer. £79 to 472 101.
LlAD—Bars, £l3 1.5 e to £l4.

,
TlN—Blocks, £3 15s.
SUGAR—Lumps, large, £3 3s Od
:o £5 4s Ori; Powder, fine,
.e. 7 16s to £4 6s Od; Bengal,
tl 2s Od to kl 4s ; Jamaica,

tine, £3 Is to 4'5 3s.
Tosacco—.3laryland.3id to sid ;
Virginia, 5 to 6 ; Cuba,ls to 18.
On —Floc. is Od half chest;
Linseed, 4:2 Os Od per cwt;
Pale Rape, £2 10s.
BRANDT—Bordeaux, 3s to 3s 6d.
Russ—Jam. (14) 2s 3d to 2s 5d ;
Dens (10 a 20) 2s to 2s 2d.
WHISKY, 105 9d to I ls.
Grams, 2s 64 to is 9d.

&KT—hood, £35 to £4O.

itieftzr—Go'od, £2 to £4O.
Mmaisuv--1...0n. P. £X) 10 £4O.

LONDON.

TUESDAY, FEBRUARY 15.

PRICE OF STOCKS AT TWO O'CLOCK.
3 per Ct. Cons. 804 4 1 per Ct. issa, 991
Cern. for Ace. 804 4 f I rig Ann. Jan. 1860, 174 3.16
3 t,er Cent. lit 1. 814 81 Old Annuities New,
:1.. pi ( t. 1818, 904 £lOOO Etch. Bills 33 21
'3' per Ct. Red. 11U4 i 2500 Ditto 35 34
3, per Cent. N, 4,1191 _ 2100 and 2200 Do. 35 31

FOREIGN STOCKS.
Ur. ztlian, so* . for Acct, 58*. Cbilian, 6 per Cent. for Acct, 20.
I.Ltni.li 3 per I. st.t, 601 ; for Acct 60*. Peruvian, —. Prussian,
1822, 96 ; for Acct, 96. Russian, fur Account, 92*. Spaniab, 17*.
Int. for A.ct. 17*. Ditto 510, 17*.

COMPANIES.
Regent's, £lB 105
Irish Grand Canal, £92 6s 2d
Forth and Clyde, £625
Liv. & Man.Railway,£lB6to4l9o
Crornford, £45
Albion Fire, £75
Alliance, .C 8
County, £4O
801211011 Mines, Xll3O
ISteam Navigation, rfis. £6 1.:5
[TISH COMMERCE.

CAP[—(92g.; £9 to £lB.
HlDES—Butts,2od to 23d; Buenos
Ayres (A.) 9d to 10id.
Comz--Jam. middling, £2 14s
to Al 3s; Dem. and Berbice,
£2 8s to £4 25; Malta, £3 Ss
to ,e 6 109.
TlA—Bobea, is lld to 2s 0s1;
Congou, mid. 2s 2d to 2$
Hyson, mid. 4s 3d to 4s 641.
Burres—Cork,X4 141 to £4161;
Datch, £4 10s.
Comm—Cheshire, old, £3 lOs to
£3 18, ; S.Glo'ster,X2 to £2 Bs.
TALLOW—Russia yel. £2 5s Cul ;
White, £2 7s 3d.
Bicu—Carolina, 145 osl to Ns ;
Bengal, 13s 6sl to 17s ful
SuoAs.-255 lid per cwt.
SMITHFIELD, Fes 14.—Beef, 41 od
to 41 811; Mutton, 41 2.1 to
4s 8s1; Veal, 5s Od to Si Bs/ ;
Pork, 4s 01 to 5s Od.
MAIL}-LAMB, FIB. 14 —Wheat,
689 to 821 ; Barley, 42s to 489;

Oats, W-,s to 343.
GAZETTZ AVISAGI. FAB 11.•
Wheat, 73s 3d ; Barley, 425 44 ;
Oats, 25s 9d; Beans, 39s sd.
BOROOGH MARICIT,FIE 12. Kent.
,E 8 12s to sel4 14s; Farn.
ham, £l5 Os to £l5 Os.
COAL EICHANOZ, 14.-•• Best
Wan End, 351 Od to 364 Od ;
other torts, 27$ 6d to 345 6d.
SMITHFIILD HAT MAAILIT, FRI.
14. Hay, £E2 135 to £e4 4s.
L Straw, £1 163 to £2 Os.

TH 14. EVENING STAR.

We have Hamburgh mails this morning, conveying news
from St. Peterburgh, to the 26th ultimo. It appears that
the armaments of the OTTOMAN PORTE were known in
that capital ; and, with other momentous events, which are
not distinctly acknowledged, created great consternation.

Dutch Mails this day convey the news that Maestricht is
still blockaded—that workmen are employed, night and day,
in strengthening the Prussian fortress of Juliers—and that
every preparation continues to be made, in anticipation of a
general continental war.

We have accounts from Brazil a day later than those we
gave yesterday. The EMPEROR, it appears, has issued one
decree, with the view of consolidating his navy ; and ano-
ther respecting the financial state of his empire, in which
the circulation of the old bank notes is to be replaced by
specie.

We consider the whole of the Debates, both in the House
of Commons and House of Lords last night, as peculiarly
indicative of those difficulties in the direction of state policy,
which consist in the conflict of interests perfectly irrecon-

cileable ; and daily becoming more hostile— we mean the
interests of the land proprietor and the fundholder. Sir

JAMES GRAHAM is the only individual who appears to see

clearly the irreconcileable nature of the interests to which
we allude. The grand battle between the parties may be
postponed; but it must be fought. The interests of another party,
holding neither land nor stock, but with stomachs and hands
to take food, rather than leave their stomachs unprovided,
are as sure of bringing on the battle to which we allude, as
the movements of NAPOLEON brought on the battle of Wa-
terloo. Mutual and timely concession, in the two parties,
to the wants of the third, might prevent the fearful concus-
sion ; but if no spirit of mutual concession, and voluntary

sacrifice shall induce to wisdom, they may, for a while, as
on last night, skirmish at the out-posts; but the great and
decided battle, when one must yield to the others, cannot
be averted.

A morning print may talk, in hurlotkruntho phrase, of
the capabilities of this country for war ; but all, who can re-
flect sagaciously on its financial situation, must know, that
although► the energies of the country are great, if eman-
cipated, they are too puny even to show fight effectually, in
the present posture of its affairs.
Our Ministers have, indeed, an arduous task, as is evi-
denced by the discussion of last night. The fund-holders
are evidently not asleep. The measure proposed was
as gentle an experiment on their sensations, as could have
been made ; and they have shown their vigilance and
adroitness in resisting it. We regret to see that the mea-
sure was so unsuccessful on two grounds—because it was
the measure of a patriotically intentioned administration ;
and because it is indicative, that no chance of conceasional
mutual sacrifices,on the part of the land and fund holders, is
likely to be made to the necessities of the country ; but
that both still maintain the right to throw the emergencies
of the state on those who will soon reject them with the
voice of famine.
It grieves us, as general well-wishers to a reforming ad-
ministration, that so many of their measures should have
appeared to us objectionable. There must be some leaven
in the Cabinet; and that it is so, was admitted by Sir ha.
GRAHA Y, in his speech of last night. In their agreement
to differ, which means the reconciling of points really irre-
concileable, a middle course is adopted incompatible with
the position of public affairs. The narrow views of aris-
tocracy, the despotism of political arithmetic, and the bene-
volence of philosophy, are likely to produce that system of

r