Star.
London, England, 1828-04-21 00:00:00

LIFE ANNUITIES.

Copy of a Letter from Mr. Join' FINLAISON to J. C. Haaana,
dated April 30, 1827, inclosing Memorandum and Four Tables
relative to Life Annuities, charged on Sinking Fund.
Narumat. Dear °Met:, ATAIL 30, 1837.
Sir—l beg leave respectfully to lay before you a short
Paper, vet Hied by the four annexed 11,:cument.,
eat nestly hope may be thought worthy of the earliest
attention of the L•rrds Commissioners of his Majesty's
Treasury. It establishes three points :
Ist. That in the account now annually laid before Parliament,
of the progress made in the redemption of the National Debt, by
means of granting fife annuities chargeable on the Sinking Fund,
there is an erroneous conclusion in favour of Government to a very
serious extent, which has no foundation in fact, but is probably the
of a mistake in reasoning.
5.1. That unless the tables by which those life annuities are now
sold, shall be immediately changed, the Sinking Fund will incur a
most enormous loss, which has been for many ye..rs increasing. is
now advancing at the rate of B,GOlg. ev.ry week, and during the
last there months bas exceeded 95,0001.
3d. That jud‘ing by the experience which we now have bad for'
these last eighteen years and a half, of the transactions of the first
year of the life annuity system—vie. the year ending 31st August,
1809 ; confining the question to that single year, in which only 540
annuities were granted (in all 58,5061. los. per annum), it appears
there are still 2'28 of those annuities payable, to the extent of
43,2511. 13s. per annum, which, in reference either to numbers or
income, is about four-tenths of the whole, and some of those will
no doubt continue payable fur many years to come. In the mean-
time the amount is closed with the annuitants.
They have been paid back as much as would have
repurchased all that they gave, and 10,759/. of Stock to
the bargain ; consequently, as long as they live here-
after, the Sinking Fund sustains a clear additional loss
to the extent of the principal and interest of whatever
May be hereafter paid to them ; and if this be, at pre-
sent, the consequence of granting only 58,5061. 10s. per
annum, the loss may easily be imagined which will
eventeally result from having granted 810,0001. per
annum (for to that extent the life annuities have since
beers carried) on the very same erroneous measure of
value.
' Now I humbly beg leave to represent, that the third
and last statement is a mere question of fact which
cannot be gainsaid. If doubted, it may instantly be
set at rest by the most simple inquiry; as this much
at least depends on no valuation of life by any table
of mortality whatsoever, nor any other reasoning that
is not within the most ordinary apprehension. By a
reference either to the Bank or the Auditors of Public
Accounts, it will most certainly be affirmed; and it so,
1 respectfully submit whether there is not matter for
the most serious. consideration?
It is now a period of eight years since I had the
'honour of pointing out to my Lord Bexley, the then
Chancellor of the Exchequer, that the loss now demon-
strated would certainly be incurred, and at that time
the Life Annuities granted were nothing like the halt
of their present magnitude; I was then, although chief
of a department at the Admiralty, frequently employed
by his Lordship in many services connected with
financial calculations.
Lt rd Bexley deeming this discovery (of which no
one else was aware) a meritorious service on my part,
encouraged me to commence a thorough investigation
of the law of mortality now prevalent among that
peculiar class of people of whom Life Annuitants
consist; on which basis, when complete, I was further
directed to compute an entire system of extensive and
perfect Tables, which should show the titre value of
Life Anntties in their various forms, as also of Rever-
sions, and of such other pecuniary interests as entirely
depend on the duration of human existence.
These directions were founded on a voluminous
Memoir, which 1 submitted to his Lordship in August
1819, and in which, besides showing front general lea-
ironing the very gmat erro; in the scale by which the
Government Life Annuities were then (as they are now)
sold to the Public, I also stated in detail the many and
serious imperfections which had been allowed to exist
in the various enactments for authorising thee finan-
cial operations. softie of which indeed are so ejovious,
that unleSt the framers of the Acts had been wholly
unacqdrffined with the nature of Life Annuities, they
could,lint have escaped notice.
Th‘ltemoir was again submitted in March, 1823,
tor.the le-Chaiscellor of the Exchequer who bas
lately left the office, and who, in like manner, directed
imp to proceed to carry into effect the intentions of
Lord Maley, and it is now ready to be laid before the
• present Right Hon. Chancellor of the Exchequer, for
the saw* purpose of enabling hint to give me instruc-
tions for my guidance, whenever a favourable opportu-
. may occur.
have now the honour to state, for their Lordships
llamado, that the progress hitherto made in the

egecution of this service is set forth in another letter
*aria I am about to address to you, in obedience re
the directions commuoicated to me by Mr. Hell on the
29th March, 1816, and wtich also explains the cause
of the long delay that has unavoidably occurted
in
complying with this.part of their Lordships' command.
I have 16e our to be, Sir,
Your mein bumble and most faithful servant,
(Signed) JOHN FIN LAISON,
J. C. Retries, &c. Actuary of the National Debt.

TFIE;:I4IV ENING STAR.

LONDON.

MONDAY, APRIL 91, ISM

STOCK EXCIJANGK, TWELVE O'CLOCK.

The Cnnsol market opened this morning at the same price they
left of on Satarday, ati 5 foe the Account, with scarcely any
business doing at present.
In the Foreign market little is doing at present.
CITY, HALF-PAST ONE O'CLOCK.

Since the early part of the morning Consols have improved, and
at present may iw quoted at 843 3 for the Account. This rise is
attributed, it is said, to favourable Accounts having been received
from Odessa; but the improvement is more likely to be owing to
the very great scarcity of Money Stock.
PII ICE OF STOCKS AT TWO O'CLOCK.
Bank Stock India Stock
3 per Cent. Red. 84 5 5 ex div Ditto Bonds 96 8
3 per Ct. Cons. 84i 3 South Sea Stuck
36 per Cent. Old Annuities 833
36 per Cent. Red. 911 sex div £IOOO Ezcbeq. Bills 64 53 4
4 per Ct. New 1013 3 2 £4QI) Ditto
4 per Cent. Scrip Xibo and E2OO Ditto 66
' 4 per Cent. 1826,1013 2 5 Commercial 59
Long Ann.l9 1.16 Consuls fur Acct. 843 1 3
FOICKIr;N FUNDS, TWO O'CLOCK.
Brazilian Bds. 5 p C't. De Acct. 603 3 /
Do. Ace. 593 5 5 Buss. 1id5.1822,5 per Ct. 873
Danish lids. 3 pCt. Do. Acct 875 8 7 /
Do Acct. 595 Spanish Bds 5 p Ct 113
6' reek Bon ..1-,,1825, 5 pCr. 17 Fr. Bente., 5 p C. 10:If
Mex. 8i15,1825, 6 pC1345 3 Exchange. 251 25c
Do Acct 345 5 5 French Rentes, 3' p Ct. 68f 50e
Porting. Bds. 5 p C. 605 Exchange 25130 e
BRITISH AND FOI(KIGN SHARKS, TWO O'CLOCK.

DNA 1411. PAID.
Brazilian 35 20 76
olombian 100 22j 16
United Mexican 40 36 11 i
Alliance British and Foreign 100 lO 9,

The contents of the Paris Papers of Saturday do not
add much to the hopes of maintaining peace in the East.
The Nara, it seems, has in effect put an end to the
commerce of the Itissians at Constantinople. It ha.
even proceeded to the arbitrary step of compelling the
Master! of the Russian vessels to past with the cargoes
actually shipped, at pikes lar below tl:eir value. The
Russian subjects mentioned AS ha•ing ben sent away
from the City, are ptobahly i.t the met cant& line. We
do not attach absolute ceedit to the report of the passage
of the Danube by the Russians at Reni ; but looking to
.heir anticipated intentions, and to the t;me when it

is stated to have taken place, we should not be surprised
at receiving more authentic accounts of the fact. The
ii,claration of neutrality anticipated from G. eat Britain
and the other Powers, in case of the commencement of
hostilities by Russia, will, of coui se, not be uncle: stood
as indicating a disposition of the lE.oglish Cabinet to
withdraw from the Treaty of London. Much yet re•
mains to be done for the cause of humanity in the
Morea—much is expected from the honour of the Allies
for the accomplishment of their tsriuen engagements.
and the fulfilment of the pledges that have since been
repeatedly given by the Ministers of the respective
Sovereigns.

By the intelligence horn Lisbon, in another part of
our Pacer, it appears that Don Nliourt has taken a
step that must excite the utmost indignation in the

iireasts of such of the Portuguese as have any sense of
the value of the impartial admiciistra;ion uf justice.
Nineteen judicial Magi st? ates, or Jo;zes, belonging to the
Corporations of sevet al towns, have been dismissed
out the sliglvest i.ffence or stain on their character, and
their places filled by adherents of the ruling power.—

The whole circumstances are not before us, but the first
aspect of the affair looks extremely ill. If the gratitude
and appl tuse of England deservedly tolkwed the first
act of his late *Majesty GEORGE the Third, n+nt.ly, to
secure the independence of the Judges of the Land, a
contrary feeling will u• questionably be excited agginst
the desiotic arm, that has aimed this blow ajainat the
pure ainainittration of justice in Portugal.

A commercial Treaty 1145 been conclpsied between
the ll4ns Towns and are Emperor of BRAZIL. It

contains the usual stiputetions of reciprocity, of admis.
sion, and of duties. Hanseatic merchandize imported
into Brazil, will for the present be subject to a duty of
15 per cent. being a rate temporatily fized, in lieu of
the old r ate of 24 per cent. for the most favour eti nations.
Brazilian vessels, with goods from any country whatever,
ere to be admitted into the Hans Towns, but the present
state of the EMPICNOR.3 commercial relations does not,
it seems, enable him to accord a perfect reciprocity to
the Hans Towns in this respect.. The admission into
the ports of Brazil is thereforn confined to goods
exported and imported directly to and front the Hans
Towns—the cases of one of the iscbt ancient, and one
of the most modern trading States, undoubtedly suggest
sufficient reasons lot a difference in their commercial
policy.

Hattiburgh Papers to a late date have been received
this eaorning. The following are extracts:

PRTERSBURGH, Aran b.

The Treaty epfreace with Persia is now in the press,
and therefore its:publication may soon be expected. Be-
sides the previnees of lirivan and Nakitschevan, Russia
acquires the salt mines of Knipi and very extensive
comme,ci•al advantages. 'Of the military contributions
of 80 millions of rubles,64 are alteady paid. The Em-
peror has distributed sia millions among the Officers
who have the most distinguished themselves in the Per-
sian war, and General Paskewitsch has received ore
million for his share. 14. Obuskow, who negotiated and
signed the Treaty, has received the Grand Cross of the
Order of St. Ann, 44d SW►O'OO rubles.
The following is the honourable Ukase, by which
General Paskewitsch is made a Count: • ,
" As we desire to recompense the distinguished

nd the extraordinary services which our Asljumn
General Paskewitsch liss rendered to the country h)
splendid victories in the ear against the Per.i sn., %inch
have covered our arms with glory, and by concluding
an advrsrtageous peace, by which the boundaries of the
Empire are extended beyond the Araxes, and the pro'
vince of Armenia is added to our dominions, we have
raised him and his descendants to the dignity of Counts
of the Russian Empire, and command him to bear
henceinth the name of Count Paskewitsch-Erivansky.'

On the 12th of last month, his Majesty issued an
Ordinance for the Government of Bessarabia. The
Commander in Chief of those Provinces is to be called
henceforth the Governor of New Russia and Bessarabia•
All classes of people, Bessarabians as well as settlers, Jews
and gypsies, remain in possession of the privileges they
have hithetto enjoyed. The inhabitants are free from
the levy of sect uits for an undeterminate time; not in.
eluding the peasants who have gone thither from Russia.
The nobility in Bessarabia enjoy also, in Russia, all the
privileges confirmed by patents of nobility and the
laws. The peasants, excepting the gypsies, ate not
serfs either of Bessarabia or Russian landowners, nor
can the latter take any serfs, except gypsies, with them
into Bessarabia, other wise than as domestic servants.
The Governor-General is at the head of the whole
Administration, which is divided into the following
branches—that of the Province, of the Circles, and of
the Towns. The Provincial Government has it seat at
Kischenea; that of the Circles is to be in the towns of
Kischenea and Erzim, Bieltzy, Bender Akerman and

Linail. The Provincial Council consists of seven mem•
bei s, the Governor-General being Pr esident ; meets twice
a year—in May and November. •

LUDENIGSLUsT, APRIL 9.

This afternoon her Royal Highness the hereditary
Grand Duchess was delivered, unfortunately, of a still-
born female child. Major Von K rhlden is gone this
evening to Berlin, with this melancholy news.

HAMBURGH, Aram 14.

The Sir Edward Batiks steam-boat arrived here yes-

terday. at half-past four o'clock. About the same time
arrived the Lowther steam-boat. from Goole, which
it left on the 11th, in the evening, and was off lieligo•
land on the 13th in the evening.
COPENHAGEN, Aran. 12.
A Swedish squadron, consisting cf a frigate, with the
flag of a !tear-Admiral, a corvette, and a schooner,
coming from the Baltic, pasted this city yeAerda),
steering northwards. •