Star.
London, England, 1819-04-08 00:00:00

COMMERCE.

We have frequently pointed out to our Mercantile
Readers, the danger to which speculators often ex-
pose their own property and the property of others,
by the imprudence with which they force it into fo-
reign markets. Let those who for the first time have
thoughts of embarking in speculations for the Aune-
rican market, first read with attention the subjoined'
Circular ; as it may prove the mean to save them

Efrom ruin.
Defective as the Laws between Debtor and Creditor
are in this country, thank HeAvert they bear no cern_
parison with those •in America.—After perusing the',
following • letter; an •Englishman may exclaim with
triumph, and with a just sense of the superiority of
his own Laws and Constitution, " England, with all
thy faults, I love thee still l"

COTT Or ♦ CUICIILAS LITTIER AINIAIIIIIII TO TKO arracumers
eau: astunt, NT DM JOON COO; Or POILADZISHIA.
dinostaarzw—The general expectation excited by the trwitl-
tOtiOln 'efforts of Mr. Hopkinson and Mr. Sergeant, Members
of.Consress from this City, to procure the passing of an ell.
dent Bankrupt Law, baring, in consequence of its rejecdon,
greatly subsided, if not toOdly ceased, it becomes the imperative
duty of those who ato liOdossed as Agents or Factors, to fur,
aids dzeir Corrosponfiwits with information as to the state of
the existing laws for the mangey of debts in America; a sub-
ject of the first imporomce Winds foreigners as are in the habit
of giving almost la dliesiminkto troika. flit there are mer-
chants it America, and many of them, as upright, scommies.
done, as punctual, and as hottest, as can be found in any port
of the world, I can cheerfully testify, from an 'varicose of
many years : but as communities are composed of Various ma-
terials, it is nocessuy to be on our guard against such as answer
the non= of this description-6st if we should unfortunately
fall into their hands, wq may he aware of the extent of their
power over us.

The power to make $ general nutkntpt Law remains with
Congress ; but that body is eomposed of Members whose old-,
eons on this subject are so various, that the public no loops ex_
pact any reelief from that quarter. The recovery of debt, there-
/80141s governed by the various Insolvent Laws of the individual
States, which, although they all differ, yet their bearing upon.
the general creditor being precisely the same, it will he sufficient
to show the practice under the Insolvent Laws of Pensylvania.
When any description of persons (Merchant, Mechanic, Far
suer, or Tradesman) cannot comply with his engagements, or
pay his notes as they become due, he is considered as having
stopped payment; and he immediately sets himself about dis-
posing of the property remaining in his possession, to whin:mom*
of his creditors be may think proper, by an instrument denomi.
nated an Assignment. As it is the common practice in Amerini
to carry on business by means of •accommodation notes, or iF
dorsements, those notes or indorsements must be first melba
for in the Assignment : this is the law of kytetsr on these mew
lions, and so deep-rooted is the practice, that he who &pails '
from it would be stigmatised as s man destitute of mead rind.'
pie. Borrowed money is equally sacred, and must also be
eluded in the first class to be paid out of the wreck of property.
The next class of favoured or preferred creditors, are particular
friends or relations, for whom the debtor possemea feelings if
friendship or regard, and the balance (which in most insamess b
nothing) is to be divided among the general creditors, embolism
those, however, who shall neglect or refuse to sign a full release
within a given period of time.
The first right of an injured Creditormoold seem to be, a
full and fair opportunity of inquiring into the affairs of the In-
solvent, and being consulted, at least, on the best measuses
*sting exigencies might require. How different h the peuctice ;
that assignment, in the form just described, is made without
the knowledge or consent of any, except, perhaps, three or four
of the favoured creditors. This act of the Debtor supersedes
mfr remonstrance ; he exercises his uneoutresled will and pka-
sare in the disposition of the effects in his possession : he chases
his own Assignees! be declare, which of his Creditors shall be
paid in full, and which shall receive nothing f and this system of
preferences has been known, in some instances, to be carried so
far, as to induce the failing merchant to make large purchases Of
goods but a few hours previous to his stoppage, for the purpose
of transferring them to a favoured Creditor!! !--Astosishod
you will suturallyxclaim,' is there no law to punish such a e
rob-
bery as this?'
Let us see what Mr. Hopkinson, one of the ablest American
Lawyers, says on this subject:—" The principles of the biol.
vent Law require only a full surrender of the property, in the
possession of the Insolvent at the time of his appliation for dis-
(*erg, ; but the manner in which he has lost the rest, whether
by extravagance, waste, gambling, or the indulgence of any
Ober folly or vice, cannot affect his right of discharge!"
The Debtor having thus, In defiance of every honest, jut, end
honourable feeling, parcelled out his favours to real or Penteaded
Creditors, causes his Assignees to give notice thereof la the
Palle Papers, with an intimation, that If the Debtor's release
be see signed by the appointed time, according to the termini of
she esaignmeut, they will be excluded from all participation in
future dividends : thus enforcing, with the uplifted hand of me-
nace, compliance, or further punishment, as if the robberi
akeady committed had not suilkiently transcended the climax
el deliberate villainy.
Notwithstanding the hardened threat of total exclusion, in
case of a refusal to sign off, it is pretty well understood in many
cases, that those who sign, and those who do not sign, Will
timately share the same fate—the whole property having bees
previously assigned to preferred creditors, and the threat of ex-
clusion executed even before it was made known ! In this cm
there will remain troublesome, oppreseive creditors, and as they
are sometimes caned • blisod.iuselters: who are only to be quieted
by means of the Insolvent Laws—to do this the debtor must be
actually placed in confinement, which is easily accomplished, at
the most convenient time, by means of a friendly or preferred
creditor, to be released—the Court appoint a day for the bear-
' ing, which Is the same day appointed for the bearing, perhaps, e
hundred similar cases ; fifteen days notice of this is givwsto the
Creditors, and, unless the clearest proof of concealment be matte
the debtor is free, and may enter into business ;gain, and pass
through the same oprstioa as often as he can lad credulity to
work upon.
The Insolvent Laws* not afford the necessary mesas et in-
quiring into sod iliftleg tits dike of the bsSvest....us. kior

linden weer,' the nature of the roceedleetwisids it ;. she Tat'
benetbefore whom the examination takes place, is nof
calcu-
laced for it, and never can be, and the whole affair has become a
mere mockery, which the vulgar attend for their amusement,
and 'nobody looks to for any advantage. I have known (said he)
maim), as a hundred Insolvents discharged in one morning;
have semi them sworn off by six or eight at a time, each strug-
gling to get his hand upon the book—repeating the oath, or
rather parts of it, altogethr, and exhibiting a scene of confu-
sion equally disgusting as iniquitous! In short, the whole
proceeding is a mockery—so contemptible in its progress,
and so ineflisient to say one good reent, that Creditors sub-
mit to be r, Allied, rather than appear as parties in such a
p oceeding , a full knowledge, •at their opposition will,
_ •ffectnal neither to discover the frauds of the Debtor,
nt. •• - rent its, ei Warr Bra the monstrous evils of these In-
solvent 'Mena found, not so mach in uitat is wrongfully
done tuideethene, in that which mayi...e rightfully, or rather
lawfully done :414;tere (said Mr. Hopkinson) we open upon
that boundless fraud, corruption, and ruin, in which we
see 11 various modes resorted to, is give preference to particu-
lar 'tom, to the utter exclusion of others, equally merited-
out a. just: by which those funds which should be fairly dis-
tributed to alleviate the losses of all. are bestowed on a few, who
may be preferred by caprice, by blood, or by future expectations
out to the Debtor. The whole power and machinery of
Assigisiments, Judgments, and Attachments, are brought into
action to promote and secure a purpose so immoral and unjust,
but, at the same time, so authorised by the law, as to be placed
beyond the reach of morality or justice."
Such is the language of an experienced, enlightened, and prac-
tical lawyer, uttered, no doubt, with the deepest feelings of re-
pot at such a state of thbrgs; but whose ardent and patriotic
mind, becomes willingto suffer the painful mortification attend-
ing the exposure of truth, for the consolatory and self-approving
reflection, that his utmost exertions had not been wanting to re-
medy the evil.
Another method of placing effects beyond the reach of Credi-
tors is practised, as follows :—The failing merchant makes an
assignment to two or three particular friends, who, perhaps, are
in no other view interested in his concerns, and never receive
any other than nominal possession. The assignees then adver-
tise that such an assignment has been executed, and that they
have duly appointed the Iniohitnt their Agent to settle the con-
cerns ; and if say turbulent creditor should thereafter think pro-
per to being an Ica* against him, he can plead " no property,
real or personal," be discharged under the Insolvent Laws, and
resume the management of -his affairs as usual, while the bam-
boozled creditor can only stare with astonishment and moral-
cad= at this hocus.p•cus kind of legerdemain robbery.
A great mass of the American People, however, reprobate
with virtuous indignation the laxity of the laws in eases of In-
solvency ; they are subject, in common with Foreigners, to the
depredations practised under them, and deplore with them their
fraudulent tendency. It is but justice to add, that the Society
of Friends, or Quakers, much to their credit, have made a full
stand against those unjust preferences no one can remain a
member of their Society who is of them. It is a pity they
do not go one step further, and declare him equally guilty who
submits to be favoured by them. To the credit too of some late
unfortunate individuals be it said, that they disdained the almost
universal rule, of preferring one creditor to the injury of another.
After this exposition, you cannot plead ignorance of the risk
you run in giving credit to persons of whom your knowledge is
at best but superficiaL. Permit one who is a stranger to many
of you to say, that the excessive credits you too readily give can-
not fail to result in enormous losses, and, if you contlnue in the
practice, inaitter ruin. This nation cannot 'etinsume the vast
amount of goods continually sent; and, with a few trifling ex-
ceptions, scarcely any articles will bring their original 'costs and
charges in America ! In consequence of which, and to the irre-
parable injury of the honest, well-meaning merchant, goods are
commonly sold by auction just as they arrive, by hundreds of
packages, always at a lou, and sometimes at sacrifices so greet,
that I forbear suggesting an idea of them, lest it should appear
Incredible! The ruinous losses must ultimately fall upon you!
Besides the preferences I have already enumerated, it must
be remembered, that if any debt is due to Government. it is a
lien upon the effects of the debtor, and must be paid at all events.
The high duties on British goods are bonded at a credit of eight,
ten, and twelve months; and it will therefore be easily ima.
shied, that a considerable sum will always, in case of failure, be
Age to the United States. When this, and the endorsed notes,
and the borrowed money, and the provision for personal friends
hi doesotod, it will be at once perceived that the debtor mast
boo mopped in very good time. if there should be any thing left
fee the general creditor.
When you recollect this, and also that your sole hope and de-
pendence must be on the native and inherent principle of honour
cad integrity of your Correspondents in America—that you can
have no other reliance—you will assuredly be more cautious and
circumspect in your Transatlantic operations than you hitherto
have been. If you are not, permit a friend and native of Great
Britain to inform you, that you are travelling with hasty strides
in the high road to rain.
I am, Gentlemen, your obedient servant,
Philadelphia, arch 1, 1819. JOHN COOK.

The Hamburgh Mails of this morning have brought
the following Commercial intelligence:
The demand for Bengal Cotton, at Hamburgh, ,
having increased, some inprovement has taken place
in the price ; and we think the low prices here will
bring in several orders from the Continent—in other
descriptions of Cotton there was no alteration ; 350
bags had lately arrived from America.—ln Coffee,
little was doing, and the few purchases made were
at reduced prices—lndigos were very heavy nt sale,
and their value giving way.—ln Rice there was no
alteration, yet prices remained steady ; about 1000
tons from Carolina had been received.
In Tobacco there was likewise no alteration. About
200 hh4s. have• arrived at Hamburgh from New
York, chiefly Virginia, and about 90,000 pottnds of
Scrubbs- The holders of Raw Sugar had taken the
alarm, and were inclined to give way in their de-
mands. English crushed Lumps were sold by auc-
tion at 12; and 121 grotes. Wheat was on the de-
cline, and a reduction of srs. has taken place. Bar-
ley, in consequence of the demand in England, has
risen about l2rs. Several large arrivals of Colonial
Produce have also taken place at Ilamburgh.—Our
letters mention the failure of.the House of LEvIN
SaLISMAN for 331,000 Banco znarlis. This House
being chiefly in the British manufacture line, the
prices thereof would necessarily be effected, in oon-
sequeice of the forced sales it would occasion.
Exchange at Hamburgh, 2d April, upon London
33 54, Paris 25k, Amsterdam 107, Madrid 911,
Lisbon 38; Genoa BGi Leghorn 87i. line Silver in
bars, 27th March, '
10. Discount 3 per cent. Cheri-
bon Coffee is quoted at I`4 to 14, llavannah and
Brazil at I to 13 ; East India l'epper lh to 15:4;
'tobacco, Maryland 11 to 26, Virginia st to 13 ;
Bowed Georgia Cotton 30 to 37 grates, Bengal do.
14 to 16. Pextrams 451 to 46i ; White Brazil :sugar
•11to 13 Havannth in to 11i, 1.4. h..clia to

brought out for execution on the top of the New Vio:
monger-lane, Southwark. He was so feeble es to le sra.
able to ascend the kidder. He, however, behaved with
fortitude, praying rr.•)st fervently fcr were', in so lou! Z :re
voice as to be heard at a coxsiderabie distance. ir.e was
tended by the Rev. Mr. MAN and the Rt.:. Mr. P 11.17 :1!!7T, rt
sat up with him through the night. He exhibited rent r2stri
tion for the crime for which be AVZ.I abol.t to seer. ;le
turned off at sine o'clock, in the presence of s.:rie annual s
spectators. His body, after hanging the usual time, was del
vercd for dissection. _ _

AT MmDstosz.—Tlrarr!ly last, elt men: al
tence of the law was execv...ed on James ...L,river, aged ;si.,ae
William Anent, aged 19, both capitally eonsic:ed at tae
Assizi:.: Morgan for stealing :C1 sheep, the pre:pair
Miller, of Bow-hill; and I.:.y.Tra fcit r.lal•rrr, crr
mined on the person of T. Nickel's, r
general conduct of both the culpri:s !laceeonderi.:.:t:zt teasel
proper and becoming.—lt being the firs: ...In.!. that an-
had been taken fur execution frina the New

z riming

.I,a r.

her of persons assembled to witness thC ...ttelanch• ly cps
Morgan was the first to ascend the Idyll-Tx%
the board front the waggon wits a2.-ra stet Lur: raj: 7*
Howra with weak and tr.smbling step, assisted W. rx rt
turnkeys, next ascended :he taxfale— 'Ale tar :Al.
by the arm, while the halter •vas nlade fast, exclaim:
to Morgan, " We `:tall meet again ht happiness." T.: 4
ter replied, "We shall.' They then shouk hands with er
other, and with the executioner, who immediately destext:.
from them. The dying culprias prayed very fervently, ani
a
that rapidity of utterance, which a vase of •he uarrose ;Ise
between life and eternity Unpins. In 'tt few secor.iss alt rs:
bolt was withdrawn, when an occurrence tnrk piece
stet fteheelinfags of bu
uof theill4 drop, MTohf o h'
gae rn who seas xi-U.ls"a' tole
.sa long,
fefl so low that his toes touched the pla:tortn,
after, his weight 'atone:lt him nearly on his fin t. An exch.:l4-
o( horror escapted from the lips of many VanNv imtssed thee,'
rcuce, and much indignation expressed against eh:: Executi:
but the persons surrounding the.scacid with grrlg
pre.o.cr of naiad almost instantaneously. zot away th: plef
trom !tne:r ft.ef, and relieved etc recants of the
With respect to Morgan, it did tilt areear that his satterovq;
at all iiicrea.c.i oc prolonged the accident. The Zre3'll°.,,,
fail aiol ins we',;htoppearediastontet to deprive h mist him of ':„7" •
nor did powra St1:111t1 be Al ter I..asx:rf
te nal time, the bald were at: %Lanz., and placed in si•ills•
UM."' •

: .

-:•
listte.l and puNlfieted f.rva. ILD-41-•
• ••Plroe, Te.)%le—!trr,

REVENUE. -
•
.1••••
ABSTRACT of the NET PRODUCE of the RE7E-11••,.,
GREAT 'BRITAIN (exclusive of th,! Anne: of t,': u.:
on Malt and Property) in the Years and Q:e.rtt.rs end d',
April, 1818, and sth April, 1819, shewiag the Inertz,.
Decrease on each head thereof.
...
Years ended April 5.
Increase. f5,,,:z.,.,;, i
1818. 1 1619. ,
Customs ..... ",852,8481 10,111 pal 259,0 FA
F,acise 90,236047' 23,1'40,523 2,884,476
Stamps .
c'),.;
Post-Office -
Aesess'dTaxes 6,176,8391 6,135,426 ... 41,i
Land Taus 1,187,0651 1,179,627 ...
..
Miscellaneous 467,547; 370,674 ...
.97,,
-.........--...-1..---
Total... 45,685,915! 48,649,030! 3,165,541 '-'os,i
Deduct Decrease i
2V,4251
Increase on the Year, 2,96L,115;
s:
1
Quarters ended April 5
Increase. Deer- 0
1818. I 1819. ti
r
Customs - e
Excise
Stamps .
Post-Office
Auesed Taxes 917,414 1135,246 ... 6:: I
Land Taxes 178,295 148,440 ... isi i
3Liscellaneons 73.2701 75,245 1,975 .... .
—.....----
.
Total... 10,249,207110,481,916 3c2,7341 11'.!.,
Deduct Decrease......... 130,028
'lncrease on the Quarter 2:::,709
We are then, according to the Revenue Baron, .
in a thriving and. flourishing condition, while am,
Commercial men and the Money-holders in the C.
there is assuredly nothing to be seen at this mem
but dismay. We are glad to nail eviilevee of i,:
sperity any where. The fact reminds u,, of the Ci.
tier who was entrusted with a tub of lire eels. i.
tended to stock a new pond. There happened to •
a hole in the cloth that covered it, and is hen •
came to etamine the tub, the eels had all disappear:
He delivered, however, the letter. The person t
whom it was addressed, on reading it, said, " vl.
I am glad to find six dozen of eels in the le:ter."
" Ah, ' exclaimed the Carrier, " I am glad they a.
in the letter; for the d—l acne is in the tub !"
His Excellency Count LATOUR ATARBOURG, t:'
new French Ambassador, landed at Dover yester.:-.
afternoon from l'Antigone kench pack t, under
salute from the Heights Batte.y.
DUKE AND DUCHESS OF KENT.— FRANKE:7.,
MARCH 29.—Their Royal Hit finesses the Duke .1:'
Duchess of KENT arrived here the ni:lit before li
The Prince paid a visit yesterday to the Court
Hombourg; the Hereditary Frince and Princess
HOMBOURG carne afterwards to
-see the Duchess
KENT. Their Royal Highnesses set out to-day .
England; the advanced state of the Duchess's ,?: L
nancy cAliges them to travel by short and easy stag,
LiTritrooe, Arm 6.—S.:iled the Bomhty Ca:de, —, I
Bombay; and the Aria, Sreen. far Batavia.
Ponesaun ' ern Avast. 7..--V;ind E. S. E.-Arrived :lie fl
—, from St. Michael's, for London. -
Doves; Aran 7.--Sailed this morning. the King Seerge,Ps
tarn Kiwo; and Leopold, Captain Roams, for Cabs ; also
I ord Sidmouth, Captain PRAXIS, with the Ostend Mail, Sc:
Arrived this afternoon the Chichester pa.rket, Captain aura
from Calais, with passengers.
Drat, AMR, 7.-Wind E.-Passed by at the back of
Goodwin Sand yesterday the Potomac, GOWN, from Air.st.rd,
to Batavia. Came down from the River 12st evening and sal..
the Clio, Wrudx, for St. Vintent's. Arrived this snoraiug
sailed for the River, the Atalanta, Swnitr, from limaica.
Ftvt P.M.-Came down from the River frid remain, •
Briton, Baome, for Bombay.
CHIMNEY SwrzPans.—The following is an A
stract. of the Bill now before the House of Commons
The first clauses relate to the form of the* Indenture: cf C'
ney Swoepers.-Indentures to be void, and Penalties imp.,
on Persons keeping Apprentices under a ccrtsin age.—Pea ::
for employing Climbing Boys who are not apprenticed, ex :.
on trial for only with the consent of Justices.—Poi:,'..
for employing Females in climbing Fluts..-Penalty for put:i..
or taking Boys ur.der years of age as Apprentice or c.:het
wise purchasing or selling their services--Boys not to he :els-,
i to hire, nor call in the streets.-Boys not to exercise this bu
. sinus of climbing before or after certain hours-flues liess:ils
to be built, to be constructed so as not to require coreing . as
to admit of being swept by machinery.-Requiring any ..'bil'
ApprenticZ, or Person to ascend a Flue, for the purpoec ie. er
• tinguishing fire, constituted a misdemeanor.
PEDESTRIAN ISM-72 SULKS TEE DAT Tot 12 a.m.
! Crisp arrived at Cribb's, in the Borough market, at five min-
' before twelve o'elocck, on Tuesday night. Ile set out ate:.
' ten minutes before four o'clock yesterday morning, on e 3 e•
I day's labour, havir.g done 432 miles in five days .
I EXECUTION AT tioasolosoxt-t.a.xx.—Thii morning, 7. e
minutes before nine o'clock, Robert Dean, aged 85, for the an:
der of Mary Albert in St. Ceurge's-liilds, in Ocis'aer Oat..
brought out for execution on the top of the New Car! in B.
monger-lane, Southwark. Ile was so feeble zs to le vat:,
t able to ascend the I...sider. He, however, behaved with
fortitude, praying rr.•)st fervently fcr mercy, it so low! a:3IW •
voice as to be heard at a considerable distance. /le gas::