Star.
London, England, 1818-04-21 00:00:00

advantage]
4 might

of 690,0001. He objected, to this, as the
expected from it was only contingent, and
never be realized. The plan of the Exchequer seemei
to be founded on the prospective, and surely he might
say the doubtful prospect, of being able, at the end
of ten years, to induce the holding of the 3i per
cent. stock, to take 3 per cent. for their money. '1 hi;
could nut be effected unless the price of Stocks should
sise very high. The option given to the.arties with
whom this bargain had been Made to fund Exche-
quer Bills now, or to 'wait to do so till the `lci of*
May, he thought imprenridently conceded. The ad;
vantages thus given to them were incalculable. If
Socks should rise, they would then fund their Ex-
chequer Bills ; but if they should fall to 79, for in-
stance, they would then make their bow, and have
Clothing to do with his Exchequer Bills or with him.
The Right Honout able Gentleman had said, that he
never knew an instance of the parties to such a bar-
gain drawing back when the time arrived for making
it good ; but he (Mr.Grenfell) contended there would
be nothing dishonourable in their doing so, when the
option was thus formally secured to them.
Mr. MABERLY considered The bargain to to
highly advantageous to the public, and disadvanta-
geous to the contractors. He admitted that Excite-
Auer Bills were funded at 79, and that the parties,
availing themselves of the option given to them, might
draw back on the 2d of May, if the Funds should fall.
This part of the bargain he thought bad. The Right.
Hon. Gentleman had not told the House, in his state-
ment, what was the amount of the deficit in the Con-
solidated Fond in the present year. Ile could wish to
know how that matter stood.
The CHANCELLOR of the EXCHEQUER said,
it was obvious, supposing the Exchequer Bills next
year outstanding, did not amount to more than forty
millions, the deficiency of two millions of last year
would, in a great measure, be met by the resources.
falling in. In respect of the 3i per Cent. Fund, it ap-
proached so near to the lowest rate of interest, that it
was hardly possible to conceive it would be depre-,
dated. As to the observation made respecting op-1
tional engagements, he hardly ever knew one of that
nature waived. Supposing a fall of the Funds, and
'27 millions was convettcd into the S per Cent. he
saw no grounds for alarm; for if the subscribers were
to decline, he had plans in conlemplatiou which would
remedy any inconvenience which might ensue.
Mr. F. LEiVIS, did tit t see the bargain in that
advantageous point of view in which Gove.nment
viewed it. He thought the old mode of bor.-owing
would have been the be't to adopt. The present
Loan was certainly a close one; He would maintain
that it was impossible .to reduce the 5 and 4 per
Cents. to Si per Cent. until the 9 per Cents. were at
the price of 90 in the Markets. It wat quite delusive
to suppose so. With respect to the application of the
Sinking Fund, if the Stock were diverted from its
original destination, the operation on that Fundy
would be greatly to its disadvantage. The interest
of the three millions borrowed was at the rate of 41.
10s. ; and if a further sum were to be adtkl to the
debt at the rate of 31. 10s. it was useless to talk of
applying the Sinking Fund to the purposes for
which it was intended: it would, in fact, be a mere
nominal machine.
Mr. HART DAVIS defended the plan of the
Chancellor of the Exchequer. The 3i per Cents. had
not yet found their relative value in the market, but
he was of opinion the value would soon be found,
and be seen to be advantageous.
Mr. SHAW asked a question relating to the pur-
chases of the Commissioners for the Redemption of
the National Debt, and the Stock in which their pur-
chases would hereafter be made.
The CHANCELLOR of the EXCHEQUER could
not answer this question without anticipating the
sense of the Public as to the character of the new
Stock to be created. All he could say was, it would
be the duty of the Commissioners to pulchase in that
Stock which should be the cheapest.
Sir JOHN NEWPORT, as the three and a half,
per cent. now to he created, was not to lie redeemed for
ten years nor the interest reduced, wished to know it
all the three and a half per Cents. to be thereafter
created was to be secured in the same way. If this
were not to be done, he desired to know where the
lir.e was to be drawn, and whether one part of the
three and a half per Cent. Stock were to be regulated
one way, while the other parts of the same Stock
were subjected to different rules. He thought there
would be a marked distinction made between the
Stock now to be created and that which was saleable
at any hour; and he was of opinion it would be no
easy task to brine it up to its full nominal value.
Mr. HUSKISSON said, that during ten years one
per cent. would be given towards the redemption ;
but there was no pledge beyond the one per cent.
The Right Honourable Gentleman could not coincide
in the opinion of the Honourable Gentleman, that.
the Loan was a close one, for it was open to every
person who could command 2000/. He defended
the arrangements made, as being beneficial to the
Public. lie alwn,s was of opinion, that it was bet-
ter to borrow ib the Funds bearing a larger rate of

Interest. The AMOdd Of the int`tv.iteci chA:ge Wet
only 19,0001. a year by borrowing on this Fund.—..
The race establishment, its respect to revenue, Wits
nct yet perfectly settled, and therefore it was not
correct to say 'the application of the Sinking Pond
was of no avail. It would be available for all the
purposes for which it was created When the peace
establishment was complete. He wished it to be
understood, thit if the terms were disadvantageous
to the Public his Honour able Friend was not cone-
pellet' to abide by the regulations, because, as his
Right Hopourable Friend had seated, he had, in case
of necessity, other plans In view.
Mr. J. I'. GRANT 'observed, that from the state•
menu made, -it would appear that the Sinking Fend
wasarge, in point of comparison with the debt
created. The saving to the Sinking Fund was there•
fore in proportion. In his opinion, no advantage
could accrue from keeping down a nominal capital.
He wished the Committee to look at the relative
situation as between the Income and the Expendi.;
tore; and observed. that the saving in the next year
would not tore opt as the Right Honourable Gentle..
man was led to expect, because the Income was not
competent to meet the Expeaditure. The House
ought to dtsire of the Right Honourable Gentleman
now to state those plans of which he talked.
Mr. C.G R ANT defended the conduct of Ministers
in the application of the Sinking Fttnd; and main-
tained, Ora the additional charge on the Public was
not more than 600,0001.
M. LYTTLETON said, he could not permit ;tie
question to •go to the vete without remindirg the
Right Hon. Gcetleman of one item in his budget ;
namely, the Lottery--(lteer, Azar.) He could not
retrain from saying a feat words as to the inconsis-
rene! of the Right Hon. Gentleman on this subject.
It was very strange, that while• the Right Hoactur.
able Gentleman was voting 1,000,0001. to build
Churches, he should, by the Lottery sycent, belt' fact
opening gaming houses all over the kingdotn.—(hPar,
hear, hear.) The Right Hon. Gentleman had de.
scribed hitt:self very grbud..l.aro,.:redly as a 4w-dead
sinner= nun expression which could not have been app
plied to him with decorum by any other persott ;
but he could not heir thinking that the Right Hon.
Gentleman would be more accurately described as a
soft saint—(hear, heno —a mart who was • tate` thii%6
but a rigorous saint or moralist, and who bent his
morality to the conveniences of his policy—(hear.)—
The part of the plan to which he alluded•was tntary
at variance with morality and religion—and if nu
one more able came forward, he should feel itifs
duty to submit a motion on the subject.
Mr. GRENFELL wished to know, if the. S per
cents. were at 80, and the Si per cents. at 91, whe-
ther the Right Ilonourable Gentleman, as a Com-
missioner, would think it more desirable to purchase
in the former or latter stock?
The CHANCELLOR of the EXCHEQUER 11161,
he should certainly-advise them to purchase us the
latter for this and the next year; but not to convert
the whole of the stock into that fund.
GRENFELL noticed a charge of 20d, rwr
100/. made by the Bank for receiving deposits on the
Loans, and asked& whether this charge was now to
be persevered in ? •
The C}L of the EXCHEQUER re-
plied in the affirmative.
Mr. GRENFELL said he should oppose such charge.
The Resolutions were agreed to, end the Report
was' ordered to be received to-morrow.

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THE EVLNIEW STAR.

LONDON.

TUESDAY, APRIL 21, ISDN
THE FUNDS.
, OF STOCKS THIS DAY AT TWELVE O'CLOCilt.
tuced i—Consols 844i—for Acc. SOD
Ceut. 97.ii—Navy Anns.lo6ft
India. Bonds 96 98 pr.—Exchequer Bills IS 21 pr

night the CHANCELLOR of the Excufotrza
it forward his Plan of Finance for the year, or
is usually called the Budget, when new taxes,.
be levied. Our Report of the plan in the pro-
igs of the House is so full that but little need be
here. The sum to be raised for the year is 21.
!Blom. The Ways and Means provide about seven
'lions, and of course 14 millions are wanted to
up the deficiency, which is to be obtained by
conversion of S per Cents. into a Si per Cent.
in the manner that has been already described.
:•110141 the sum tiles raised not meet the full expen•
the Sinking Fund will be charged to make
the deficiency.

Public curiosity had been considerably excited by
-.pectation of the Minister's Budget, and pus-
to an immense amount were made for time
during the whole of yesterday, under the impression
the statement would be favourable. Towards
close of the Market Consols were 80 f, and the
-ket looked execediugly well. This morning a
disappointment took place, for Consols opened
14, and scarcely any buyers at that price ; they
to 801, at which price they remained at o'clock.
appears so powerful a party in the House
against the rise, that the prevailing opinion is a fax--
- reduction will take place. The accounts from
merica this morning are so very unfavourable, that
added to the ill opinion previously entertained
the Funds, and prevented many large purchases
1g made. The Commissioners were served at 801,
the jobbers generally.

e have received to-day, American Papers to the
_ ultimo, the contents of which are of more than
eal interest.
compliance with a Resolution of the Senate, of
16th of December, and of the House of Repre-
sentatives of the 24th of February last, the Pant-
)ENT has laid before Congress a Report of the Se-
cretary of State, and a variety of relative papers
respecting the negotiation between the Government
Spain and the United States. The documents are
great length, but the substance of them will be
gathered from the selections which we subjoin.
complexion of them is certainly far from being
;cable. The United States appear to feel all the
strength of their existing position in regard to Spain,
to be well determined to take every possible ad-
vantage of it. Having nothing to expect from negocia-
tion but what in the present feeble and embarrassed con-
dition of Spin they can, with every prospect of
im-
punity, take and maintain by force, and having in
already taken possession of nearly all they want;l
they manifest a natural enough aversion to any nego-
tiation at all, and are in a particular manner opposed
any mediation which might have the probable
effect of giving an Ally to. their opponents in the
event of an ultimate rupture. The sum of the matter
this—the United States think they have nothing
rear from a war with Spain, and they are careless
therefore how much they may do to provoke one ;
- can any one who attends to the tone of the fol-
lowing documents, doubt for a moment what the
conduct,df Spain would, and perhaps ought to be,
r her situation were less helpless than it is :
" RIOPAOrSONT or sari, 14TH MARCH, IRIB.

" The Secretary or State, to whom have been re-
(erred the Resolutions of the Senate of 16th Decem-
7, and of the House of Representatives of the 24th
jebruary last, has the honour of .submitting to the
Presiient the correspondence between this Depart-.
silent and the Spanish Minister resiling herei since
• received tl►e last instructions of his Government
renew the negotiation which, at the time ..of the
last communication to Congress, was suspended by
the insufficiency of his powers. These documents
will shew the present state of Ilia relations between
the two Governments.
" As in the remonstrance by Mr. de Onis, of the
;th of Deceniber, against the occupation by the
Inked States of Amelia Island, he refers to a pre-

ions communication from him, denouncing the ex-
'edition of Sir Gregor WGregor against that place,
Is note of 9th July, being the paper thus referred
to, is added to the papers now transmitted. Its date,
when compared with .that of the occupation of Ame-
lia by M•Uregor, will shew that it was wri:ten ten
days after that event; and the contents of his note of
3th December will skew that measures had been
taken by the competent authorities of the United
States to arrest M‘Gregor, as soon as the unlawful-
ness of his proceedings within our jurisdiction had
been made known to them by legal evidence, al-
though he was beyond the reach of the process before
could be served upon his person:
" The tardiness of Mr. Onis's remonstrance is of
itself a decisive vindication of the Magistrates of
the United States against any imputation of neglect
to enforce the laws ; for, if the Spanish Minister

self had no evidence of the project of M'Gregor, suf-
ficient to warrant him in addressing a note upon the
subject to this Department, until ten days after it
had been accomplished, it cannot be supposed that
Officers, whose authority to act commenced only at
the moment of the actual violation of the laws, and
who could be justified only by clear and explicit evi-
dence of the facts in proof of such violation, should
have been apprised of the necessity of their interpo-
sition in time to make it effectual before the person
Accused had departed from this country.
" As, in the recent discussions between Mr. Onis
and this Department, there is frequent reference to
those of the negotiation at Aranjuez in 1805, that
correspondence between the Extraordinary Mission
of the United States at that period, and Don Pedro
Cerallos, then the Minister of Foreign Affairs in.
Spain, will be also submitted as soon as may be, to
be laid before Congress, together with the correspon-
dence between Don Francisco Pizarro and Mr. Er-
ving, immediately preceding the transmission of uew
instructions to Mr. Onis, and other correspondence of
Mr. Onis with this Department, tending to complete
the view of the. relations between the two countries:
(Signed) " JOHN QUINCY ADAMS."
EXTRACT OF A LETTER FROM MR. SECRETARY ADAMS
TO DON LUIS DI OBIS, DATED MARCH 12, 1818.
" You perceive, Sir, that the Government of the
United States is not prepared either to renounce any
of the claims which it has been so long urging upon
the justice of Spain, or to acquiesce in any. of those
arguments which appear to yon so luminous and it-. 1
resistible. Determined to pursue the establishment
of their rights, as Tong as by any possibility they
can be pursued, through the paths of peace, they'
have acquiesced, as the Message of the President at
the commencement of the present Session or Con-
gress has informed you, in that policy of Spain which
has hitherto procrastinated the amicable adjustment
of these interests; not from an insensibility to their
importance to this union, nor from any indifference
to the object of being upon terms of cordial har.
mony with Spain, but, because peace is among the,
dearest and most earnest objects of their policy ; and
because they have considered, and still consider it,
more congenial to the principles of humanity, and
to the permanent welfare of both nations, to wait
for the favourable operation of time upon the preju-1
dices and passions opposed to them, than to resort
to the unnecessary agency of force.
" After a lapse of thirteen years of patient forbear-1
ance, in waiting for the moment when Spain should
find it expedient to meet their constant desire of
bringing to a happy and harmonious termination all
the conflicting interests "between them, it will need
little additional effort to wait somewhat longer with
the same expectation. The President deems this
course even more adviseable than that of referring the
questions depending between the two nations to the
arbitrament or mediation of one or more friendly
European Powers, as you have been authorised to
propose. The statement in your note of the 10th of
February, in reference to this subject, is not alto-
gether correct. It is not the British Government
which, on this occasion, has offered ; but your Go-
vernment which, without first consulting or asking
the concurrence of the United States, has requested
the mediation of Great Britain. The British Govern-
ment, as must be well known to yon, have declined
the offer of their mediation, unless it ihould be reques-
ted by both parties ; and have communicated to the
Government of the Unitad States this overture on the
part of Spain. The President has thought proper,
from motives which he has no doubt will be deemed
satisfactory, both to Great Britain and Spain, to de-
cline uniting in this request. He is indeed fully per-
suaded that, notwithstanding any prepossessions
which the British Government may heretofore have
entertained with regard to any of the points in con-
troversy, they would have been entirely discarded in
assuming the office of a mediator. But it has hitherto
been the policy, both of Europe and of the United
States, to keep aloof from the general federative sys-
tem of each other.
- 44 The European States are combined together, awl
connected with one another, by a multitude of im-
portant interests and relations, with which the United
States have no concern—with which they have al-
ways manifested the determination not.to interfere—
and of which no communication being made to them
by the Governments of Europe, they have not infor-
mation competent to enable them to estimate their
extent and bearings. The United States, in justice
to themselves, in justice to that harmony which they,
earnestly desire to cultivate with all the Powers of
Europe, in justice to that fundamental system of
policy which forbids them from entering the labyrinth
of European politics, must decline soliciting or az-
ceding to the interference of any other Government'
of Europe, for the settlement of their differences
with Spain.
" But however discouraging the tenor and charac-
ter of your recent notes has been to the hopes which
the promises and professions of your Government had
excited, that the time for adjustment of these differ-
ences with ,Spain, herself, had at length arrived, chi
United States will not abandon the expectation that
more correct views of the subject will ultimately be
suggested to your Government, and they will always
be disposed to meet them in the spirit of justice and
amity. With regard to those parts of the Province
of Louisiana, which have been iucorpnrated within
the State of that name, it is time that the discussion

should case—forming part of the territory of a <o-
vereign and independent State of this union, to dis-
pose of them is not within the competency of the
Executive Government of the United States nor will
the discussion be hereafter continued. But if you
have proposals to make, to which it is possible for
the Government of the United States to listen with a
prospect of bringing them to any practicable conclu-
sion, I am authorised to receive them, and to con-
clude with you a Treaty for the adjustment of all the,
cifferences between the two nations, upon terms which I
may be satisfactory to both.
" With regard to the motives for the occupation
of Amelia Island, the Messages from the President
of the United States to Congress, and my letter to
you of 16th January, have given the explanations
which, it is presumed, will be satisfactory to your
Government. The exposed. and feeble situation of
that Island, as well, as of the remainder of East Flo-
rida, with their local position in the neighbourhood
of the United States, have always been among the
primary inducements of the United States for urging
to Spain the expediency to the interests of both na-
tions, that Spain should cede them fur a just and
suitable equivalent to the United States.
" Ameia Island was taken, not from the posses-
sion of Spain) but of those from whom she had been.
squally incapable of .keeping or of recovering its
possession, and who were using it for purposes in-
compatible with the laws of nations and of the Unit-
ed States. No purpose, either of taking or of re-
taining it as a conquest from :pain, has ever been
entertained, and unless ceded by Spain to the United
States, it will be restored, wilt:never the danger of its
being again thus occupied and misused shall have
ceased. " _ _

" It is needless to add, that the proposal that the
United States should take any fin thcr measures than
those already provided by law for preventing arma-
ments hostile' to Spain within the territories of the.
United States, is inadmissible. The measures al-
ready taken, and the laws already existing against
all hostile armaments within our jurisdiction, incom-
patible with the obligations of neutrality, are suffi-
cient for its preservation ; and the necessary means
will continue to be used, as they have been, to carry
them faithfully into execution.—l have the honour to
be, with great consideration, Sir, your obedient and
very humble servant, "Join QUINCY ADAMS."

A letter from Bahia, da..ed January IS, says :
" We are in daily expectation of the Conde de PAL-
MA, our new Governor, who left Rio Janeiro some
time since for this place. Since the beginning of the
present year, we have had an additional duty laid on
all exports, en which there formerly existed a dutz of
eight per cent. except such as are exported in Portu-
guese bottoms for Lisbon. Coffee, hides, fustic, and
molasses, are subject to no export duty as yet ; but
we are in expectation that one will be imposed by the
new Governor.—The markets at Pernambuco are
heavy, and all kinds of provisions very scarce."

The Paris Papers of Saturday arrived this morning.
The tedious cause of Ilialdca is expected to last fif-
teen days longer, from ten to twelve of which will be
occupied by the pleadings. The still more tedious
debates on the Budget are to terminate—nobody can
guess when. Meantime the Funds keep rising ; and
poor Authors are sent to prison as usual. The Grand
Congress of Monarchs, we are now positively told, is
to be held at Aix-la-Chapelle, the ancient capital of
CHARLEMAGNE. Five per Cents. Friday, 67 fr. i 0 c.

Yesterday, at half past four, her MAJESTY held a
private Court. The reigning Prince and Princess of
SCOMEOURO LIPPE ; and Count LUDOLE, the Sicilian
Minister, were introduced to her NIAJESIT, and most
graciously received. The Court broke up at 6 o'clock.
Her MAJESTY afterwards went to dine with the PRINCE
Ituonur, at Carlton House. At nine o'clock there
was an evening party.
Yesterday a meeting of the Electors of the Borough
of Southwark took place at the 'Circe Tuns Tavern,
in the Borough, for the purpose of proposing Re-
solutions in support of the return of Sir Roular
Witsoti to Parliament. At a few minutes past one
Sir Russia Wltsos enterer the room, accompa-
nied by Mr. BENNET, Mr. HONEYWOOD, Mr. Basica,
Captain Hyrcnitisox, &c. They were all cheered.—
Mr. HALLAN MARSHALL WAS called to take the
Chair, and Mr. HALL proposed a number of Resolu-
tions, declaratory of the determination of the Meet-
ing to support the election of Sir lloutur WiLsow,
and returning thanks to Sir lloszar, Sir FRANCIS
BURDIETT, Mr. BINNET, Mr. LASIBTON,
ROBERT WILSON made a long speech, declaratory of
his independence and resolution to support the in-
: wrests of his constituents, should he be elected ; ad-
ding, that if he ever differed from them on any great
question, he should feel it his duty to resign.
William', the printer of Port sea, who was senten-
ced to a year's imprisonment, for publishing HONE'S
Parodies, was released on Saturday by an order from
the SECRETARY cf STATE.

The brig Jane of Leith, Captain WILLIAM PAT-
TERSON, arrived on the 15th inst. at Holly Loch,
(Clyde) after a passage of 26 da:s from Naples, and
made the land in six days from Gibraltar, being the
shortest passage ever known.
Detachments of the Royal West India Ranger.,
the 61st aad 63d Regiments, have embarked at
Cowes, on board the transport ship Lady Mackvanil
and the brig Aid, for Barbadoes, having under tkeir
charge several prisoners•from Portchester Cattle. A
detachment of the 76th Regiment has also einlyzilk,,:d
in the ship Lady Hamilton, for Quebec, and sailed
on Friday.
Monday se'nnight, at 'Freestone Quarry, near Ha-
milton, three tenements, consisting of chvellit.ts and
loom *hoof were bunted to the groutd.

NAVAL INTELLICgNCZ.

PENZANCE, AVAIL It.
The following vessels were spoken witl. by c.),
Pilot-boat yesterday, vis.--Richroond, j f. 074
Madras for London—she touched at the Cape ;
ser, I lAll4lll.lcrox, from New York for Bremen, Zee
Achilles, blobs, and the Diamond, —, have received
ao much damage, that their cargoes are both 4,, ,z
FALMOUTH, APH:L
Wind E.—Arrived his 24,.jesty's ship Raz:, zd
the Hind cutter, from a cruize.

COWES, APRIL to.
Arrived the American ship Fisher Arne; Lt,..
from the lie of France for Copenhagen.
PORTSMOUTH, APRIL Ob.
Wind E.—Sailed his Massty's.ship Reszace, ea
a cruise.

DEAL, Arnri 10.

Wind N.B.—Sailed last night, the Sealeby
SOTHEBY, for China. 'The Orwell, Lamm; re.
,mains in the Downs, waiting for the Perseverantt
which ship is hourly expected fmm the River. Cs:,;
dowafrom the River this morning, and sailed, 6
Waterloo, Moons, for Madras; Rebecca, Pe !roue;
for Jamaica; Albert, SWAN, for Boston; F.rw
Piteous, for Montreal ; and Barbadoes Planter, Hr,
NAN, for Barbadoes.

DOVER. APRIL 20.
Wind E. N. F. and modes ate.—baled last eg,
the Lord Duncan packet, for Ostend, with a
and passengers. Sailed this morning the &Isar.,
Captain Moox, and Leopold, Captain Room's,
Calais, with passengers. Arrived this afternoon
Lord Sidmouth, Captain PEAKS, and l'Antig(
French packet, from Calais, with passenger•.
wreck of the vessel mentioned in my letter ci ;es'
day, remains in the same situation ; an writ
made to weigh her this morning by four fisk.z,
sels, but without success.

.....
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