Star.
London, England, 1821-06-19 00:00:00

111 E EVENING STAR.

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[ONE; 0 Y.

TUESDAY, JUNE 19, 1821.
TIIE FUNDS.

PRIM Or STOCKS THIS DAY AT oNE O'CLOCK :
Bank Stock `329%—•s per Cent. Reduced 75% 76
3 per Cent. Cons. shut-31/2 per Cent. 8.5 h
4 per Cent. 93% % 94-5 per Cent. shut
Long Anus. 19 1-16—India Bonds 48s. 455. pr.
Exch. Bills. Is. pr. Its. dis.— Consols for Act. 77 14.

Ministers have yielded to the declared sense of the
majority of the House of Common., and withdrawn
their opposition to the repeal of the Agricultural
Borst Tax. On Mr. CURWEN% moving, last night,
that the Bill for the repeal should be committed, the
CHANCELLOR.. of the EXCHEQUER stated, that his
Majesty's Government had resolved not to resist what
they had ascertained to be the public opinion, how-
ever inconvenient it might be, in the present state of
our finances, to relinquish a branch of revenue pm-
duang about half a million annually. Mr. BIRCH
inquired whether Ministers proposed to substitute
any new Tax? The Marquis of LONDONDERRY
said, that no such equivalent was intended. Mr.
GRENFELL then wished to know how the defi-
ciency which the repeal of this Tax would occasion
in the estimated revenue, was to be made up—whe-
ther by deducting an equivalent sum from the three
millions and upwards, payable to the Commissioners
of the Sinking Fund, or by an adequate retrench-
ment in the expenditure? The CHANCELLOR of the
EXCHEQUER answered, that the repeal might be, per-
haps, felt at the end of the year, in the amount of
the Exchequer Bills outstanding—that is, that Go-
verninent, in lieu of half a million, in money,
which the repealed Elorse Tax would have ena-
bled them to pay, will probably be obliged to
issue Exchequer Bills to that amount, or, in plainer
terms, that the Government will take on credit what
tley cannot pay for in cash. And this is what the

1-
re
r.

Marquis of LONDONDIRRY is pleased so call a boots
conferred oa the country!

Mr. BROUGHAM pointed out the only way in which
the repeal of this tax might be rendered of real
benefit to the country ; but we confess we do not
share in that Hon. Gentleman's expectations, that
such will really be the result of the measure. He
recollected, he said, that " on a former occasion, after
the Estimates had been calculated on what his MA-
JESTY'S Ministers called the most economical prin-
ciples, that many millions of taxes were repealed.
The consequence was, that new Estimates were after-
wards framed to meet this reduction of Income.—
Such, he had no doubt, would be the result in the pre-
sent instance." If it be, we shall rank Mr. BROUGHAM
among the Prophets. But, for the present, we put
more faith is Mr. VANSITTART'S soothsaying. The
Revenue will be less by half a million, and the float-
ing Debt will be just so much the more at the end
of the year. Parliament has allowed the opportunity
to go past for making up for the repeal of this Tax,
by an equivalent reduction in the Expenditure. The
Estimates for the year have been voted, and motions
on motions for reducing them have been negatived.
There has scarcely been an item, indeed, which ad-
mitted by possibility of reduction, on which Parlia-

ent—thanks to Mr. Huste, and a vigilant few by
whom he was supported—have not had an opportu-
nity of deciding whether they would reduce or not.
Almost uniformly they have, after the most mature
deliberation, decided, that what was voted was the
least that could be voted ; and it is idle now to ex-
pect that Ministers will', of their own free choice, find
a way to do with half a million less than what was
granted to them as indispensably necessary.
As we said, when first speaking of the repeal of

this tax, there is an actual excess in the Revenue of
the year above the Expenditure of nearly four mil-
lions, which, as matters are now regulated, are to be
paid over to the Commissioners of the Sinking Fund,
in liquidation of the old debt of the country; and it
is in.this sum that the diminution caused by the re-
peal of the Agricultural Horse Tax ought to take
place. Can anything, to persons who take only a
common-sense view of matters, be more absurd than
to pay off one half million of old debt, when, by
doing so, we must incur, not merely an equal amount
of new debt, but all the addition caused by the neces-
sary expenses of negotiating the two transactions?
This may be called supporting credit; but it is sup-
porting it in a way which, if long pursued, must
soon eat up every inch of the real capital.

A mercantile house in the City has received a
letter from Odessa, dated the 22d May, 1821. The
intelligence which it contains is not only the most
recent that has been received respecting Turkey, but
since the last advices which arrived direct from Con-
stantinople, and which were of the 12th, is the most
authentic of which we are in possession. The fol-
lowing extract presents all that is of a public nature:

" I wrote you with extracts from your partner's letter, dated
Constantinople, the 12th of May, by the last MaiL I have
again a few lives from hint of the 14th instant, wherein be men-
tions that the Turkish fleet had sailed fur the Arches, nu doubt
to scour those seas of the Idriotes and Ipsariots, who have armed
their ships. Matters there were going on much more tranquilly.
and I hope this sad business will be soon completely terminated.
Galata, on the Danube, has been taken by the Turks, and all
the inhabitants massacred.
" The army of Prince Ypsilanti (if it deserves the name) is
said to be only 8000 strong, ill-equipped, and worse disciplined /
the Moldavian and Wallachians have risen against them, as
they lived upon free quarters, and plundered the Churches.
They retired on the frontiers of Austria, and tried, without suc-
cess, to excite the Servians to revolt. Some people, returned
from thence, say, that everybody wishes to command, and none
are willing to obey.
_

,0 The body of the Greek Patriarch is in the quarantine of
this place; so careful is this Government of giving offence to the
Turks, that our Governor has sent to St. Petersburgh for in-
structions whether or not a solemn funeral is to take place."

We have received to-day a supply of German
Papers of recent dates. They contain an extract
from the Circular, addressed by the Prussian Mi-
nister of Foreign Affairs, in the name of his Sove-
reign, to the different European Courts, on the sub-
ject of the conferences at Laybach. It is in spirit
precisely the same as the Circular conjointly issued
by the Courts of Austria and Russia. It disavows,
with equal solemnity, all intentions hostile to what'
the Allied :Monarchs may be pleased to consider as
real improvements—an assurance which is in its na-
ture abundantly superfluous. It proclaims the greatest
respect for the independence and freedom of States.
But against freedom, which goes the length of re-
bellion, it expresses implacable hostility, and declares
it to be the determination of the Allies to oppose and
combat it wherever they can reach it.

The Paris Papers of Saturday arrived this forenoon.
A letter from Augsburgh, of the 11th of June, is
quoted, which states, that an Extraordinary Council
of State had been held at Vienna, under the Presi-
dency of Prince Myrreanicu, Minister of Foreign
Affairs, shortly after the arrival of a Courier with
dispatches from the Austrian Legation at Constanti-
nople. It is added, that at the breaking up of this
Council, an extraordinary courier was dispatched for
Warsaw and Petersburgh.
There is no other news in these Papers of the
least importance.
French Five per Cents.—Friday, 851 r. 50e.

'Yesterday, at two o'clock, the Ktmo left hii Pa.
lace, in Pall-mall, escorted by a party of Dragoon',
for his Lodge at Windsor.