Star.
London, England, 1817-03-06 00:00:00

THE FUNDS.

The rise in Stocks his acquired the climax anticipated by the
lull:. The first bargain of X5OOO Stock was this morning made
at 70 for the account, Which has settled policies in the Alley to
the amount of £700,000. Consols opened at c 9/ for Monty.
and 70 for the Account. The Pubhc are under a mirake with
respect to the ftd. Ekehequer Bills—Goveinment Leer i.sued
the whole 24,00,000 to the Bank at Ss. premium, hut the
*III not take them it present ; they are only purchuers td mock,
which will account for the great rise, PoUcies were opened tide
morning, That Consols will be done at 75 On or before the April
Accountk.

The Speeches in the Haute of Commons last
night were rather of a desultory quality, but, not-
withstanding, the proceedings were not devoid of in-
tetest. A motion was made by Mr. M. Perz.lenaLu
to address his MAJESTY for the purpose of obtaining
information on the amount and state of human food
in Ireland, with a view to determine the expediency
of stopping distillation from grain in that country.
Froth the statements of Ministers, it appeared that
the subject bad already undergone much inveatiga-
tion. They were persuaded on the whole, that a SUS.
pension of the distilleries would not produce any
sensible benefit.—Tice whole argument may be re-1
duced to a few words •••4( The Irish must and will
have their whiskey—a prohibition, therefore, of the
legal distillation, is the same thing as a command to
the illicit distiller to prosecute his business with ala-
crity." It was also remarked that there was much
unsound corn in the market which could not be sold
for any other purpose; and besides ,‘ the failure of
the crop of corn last year was not so much in quan-
tity as in quality."
We were happy to hear the CHANCELLOR of the
EZRHEQUER acknowledge his c nviction that there is
always danger to be apprehended from the interfe-
rence of the Government and Parliament in matters
of trade. This has ever been our opinion ; and we
think it might be easily proved that the stagnation
experienced in our manufactures and commerce dur-
ing the last year would have been comparatively
light,but for the injudicious interlerence with a matter
of trade which originated, was perfected, and carried
into law, the Corn Bill, and the Bill laying dirtier ON
Chase, Baiter, Ike. imported from foreign parts. Nay
more, we think it would not be difficult to shew that
these laws, so far from benefiting, have been highly
injurious; to the landed and agricultural interests.
-It is true indeed that the prices of the farmer's
produce have risen since the passing of thes.: Acts ;
but it is equally true that the enhancement of price
was produced by another cause,--the general failure
of last year's harvest throughout the greater p ir: of
Europe. Would the price have been as high had
these laws, interfering with trade, not been enacted ?
We think they would have been higher ; fur we would
have had more money in the country—or, what is
the same thing, a greater quantity of realized indus-
try. When peace was restored w Europe, in what
state did it find the Continent ? The finances every
where in a state of disorder, the people poor and
without the means of paying with money for any of
the products of British industry. Were no other
means of payment within their power ? Yes, they
could have paid for large purchases had Acts of Par-
liament not interfered with "matters of trade." They
could and would have taken great quantities of your
woollen and cotton cloths—of your cutlery, hardy4re,
and iron goods, if you would have taken corn,
cheese, and butter in payment. But Os you pro.
hibited by the operation of legal enactments—
threw your labourers out of employment all over the
ccantry—left numbers of your trading ships to rot in
the docks, while your hardy mariners were compelled
to wander about your streets as vagabonds :—And
then you affect to wonder at the number of paupers,
and cry out loudly against the increasfoi the poor
rates !

It is in the very nature of laws nurtured and per-
fected by mere cupidity, to manifest, by their inevi-
table consequences, the shortaightedness —the abso-
lute blindness of their projectors—and also, sooner or
later, to make the evil fall on those who, by a coer-
cive " interference with matters of trade," endeavour
to counteract the universal laws of social in ercourse
laws too powerful to be controuled by locsl Legisla-
I •
bon. But for the Acts to which we have alluded,
Britain would have become the magazine of Europe
for all the excesses of foreign industry ; and these she
would have obtained in return for the honest labour
of that portion of her own population which for
months has been out of employment, living upon
the stock of a community to which they could
contribute nothing. With foll employment and full
wages they would not have failed to have full bellies:
in other words, the farmers, instead of supplying s
demand, measured not by the belly but by the purse
of the purchaser, would bare had hearty customers ;
and by the natural operation of cause and effect, the
land would again have begun to recover itself.—
But, by your present system, having nothing but ca-
sualties to bolster it up, it must progressively sink till
it find its minimum ; for a :nerd' scarcity is not of
frequent recurrence; and when it dues occur, always
brings deductions in its train which eventually eat up
all the supposed profits. Indeed the prosrects of
gain from a season of scarcity must ever prove an
illusion. Let the " seven lean kine," only -eat up
"the seven kin, fat and well-favoured," and the
stupid Landholder, who would counteract the laws

of onivitsal intercourse, will be sure to be obliged td
timately to sell his estate for present susten incc.
We might enlarge on this subject, but we will not
at present. It is, however, o.e o' great importance
—especially in the view of the approaching discitc.
lion on the system of the Poor L sws.3 system d,s-
graceful to common sense, and subversive .4 every
moral frelli:g among the I ibouring classes—a system
which is indehted for all its worst feitures to the
stupidity, the ignorance, the cupidity and dig.
honesty of—of whom ?Of the Landhohlers only ?
No. Of the manufacturing cl isTcs also—but princi-
pally oaf the lardliclders, with whom wejoin the whole
igriculttral body.—Wc Kill, ere long, return to this
st:hject.

Mr. 13not:Gttav's assault on the Master of the Mint
lart night was the poorest effort almost drat we ever
witnessed in the House. His reasoning was without
p int, his facts unfounded, his history apocryphal,
and his inferences quite groundless. Mr. W. PoLe
informed the House that the B.nk has sent wild to
the Mint, for the purpose of tesurning cash payments.

We have received this morning the Paris Papers of
Sunday and Monday last.

The Chamber of Deputies are still occupied with
the Budget. Delay—interminable delay, seems to
be the order of the day. It is said to be the policy
of the opposition to protract the discussion to the
greatest possible length, but from what motives of
good that policy is adopted we do not just perceive.
—Every day of delay in voting the Supplies must i e
productive of a loss of some hundred thousand francs
to the revenue ; and as on all hands it is admitted
that the very utmost atnount of revenue which can
be collected this year will fall greatly short of the
exigencies of the State, we cannot but designate as
profligate and wanton any opposition which has for
its object to postpone, without any necessary cause,
the putting that Revenue into a course of collection
as soon as possible.
TALLEYRAND has been restored to favour. 03
Sunday he had an audience of the KING, and nest
day resumed his functions at the Tuilleries as Grand
Chamberlain.

The Count P 0720 Dr Bottom, the Russian Am.
bassador, has been overturned in his carriage, and
ver► seriously hurt.
One of the Journals pretends that some sailors have
spread a report at Copenl.agen, happily most impro-
bable, of use entire di;appearance of the isl ind of
Madeira, in consequence of a volcanic eruption 1
Funds 61 1. 55 c.