Star.
London, England, 1816-12-19 00:00:00

FRENCH P4PERL.

PARIS, DECEMBER 15.
There has been a violent hurricane all night in
'Paris, whits has hone considel able damage.
Ms Committee of the Chamber of Peers are stated
to have agreed to the projects regarding Divorce. ,
A public sitting of the Chamber of Deputies is
expkted on Tuesday to receive the Report of; die
Projet respecting the Provisional-Collection of bitir•
twelfths of the Contributions of 1817.
The prop sition made to the Chamber of Peers re•
girding the responsibility of Ministers was developed
by M. Lally Tollendal.
They write from Havre, that five fresh vessels laden
with grain have arrived there from foreign ports.
Some persons spread, during the few last days,
alarming reports of a rupture of the negotiations
with the Holy See. We believe-we may state that
these rumours are without foundation. The delay
which these affairs. experience is certainly trouble
some, but far from despairing of success, we cond.'
nually flatter ourselves that-the moment is not far off
when the wishes of the friends of the Church will- be
Ildfilled. The delays probably only arise from pri.
vate incidents, independent of the basis cf the,princi.'
Rai Convention, on which it does not appear that
lifers has been any change of opinion: .
• 'IRUN. DECEMBER 6.
Sir 'Henry Wellesley. British Ambassador to Ma.
drifts passed through this town on his way thither on
the lid instant: . •
VENICE, NOVEMBER se. . •
We receive melancholy intelligence from Albania
and Dalmatia: The plapue makes dreadful ravages
there, and carrids off numberless victims.

Tiiit EVENING. STAtt.

I.ON DON.

THURSDAY, DECEMBER 19, 1816.
PRICE OF STOCKS THIS DAY AT TWELVE O'CLOCK t
Reduced den—Cons. nub. shut—Cons. for opg. 6SU
4 per Cent. '7BU-5 per Cent. Navy shut
Ezahtsver Bills, 45.71. pr.—lodia Bonds 15s. 165. pre.

In our last we made an allubion to a proposition
for reducing the legal rate of interest from five ro
four per cent. as a mean calculated to reduce the
amount of Taxes now collected, and consequently to
give essential relief to our Agriculturalists and Ma-
nufacturers, and indeed to every class in the com-
munity. But at the same time we remarked, that a
question of such magnitude should not be decided
w.thout much investigation, with the special view of
coming to a correct conclusion respecting its justice.
Would it not be an act of injustice to the Public
Creditor thus to reduce the hire engaged to be paid
fat the use of his money I Let it be recollected
that when interest was reduced from six to five per
cent, the price of Stocks did not fall. Is it uarea-
Malik to believe that, were such a measure now
adopted, the same consequence would follow—that
the price of Stocks would not thereby be lowered?
But what has this to do with the question—which re-
lates to the interest only, and not to the capital? We
answer, that it has every thing to do with the ques-
tion ; that, so tar as justice is concerned, the question
i:sell„ when divested of intricacy, resolves itself
wholly into the effect that uould be produced on TIM
CarITAL, quad the National Creditor. For if the
price of Stocks be not reduced, the holder, whenever
he may wish to make a transfer, will be able to ob-
tain back his prints/la/ from the new purchaser—and
t .is is the utmost that he could in any event demand.
is justice, from the public.
This being demonstrable, who will pretend to argue
*that it would not be sufficient that the National Cre-
ditor should be only left in circumstances in which he
may be able to recover his capital, but that he would
still have a right to insist on his original interest, or
to be paid at par ? By what argument can it be
shewn, that if it were found to be for the general
welfare that the interest on all monies lent should be
reduced, there should be an exception in favour of
ene species of lenders ? The measure, if it ever be
adopted (and adopted it will be, some day or other,
or, else money will be left free to find its value, like
every other commodity, which would perhaps answer
the same purpose—but we cannot now enter into this
question) ; the reduction, if adopted, will be the re-
suit of a conviction that the general.benefits expected
to fi,w from it, not only to the nation generally, but
even to the lenders themselves, in the reduced rate of
all consumable commodities, and from the diminu-
tion of direct personal taxes, will more than compen-
sate any derangement or temporary inconvenience
which it may, in the first instance, occasion to indivi-
duals. None will maintain, if the fixed hire of
money should be settled by Statute, that the Legisla-
tors now has not the same powers and as good a right
to decide on its quantum as at any former period.—
If it were made apparent that it would be highly be-
neficial, would it be listened to for a moment that it
should only apply topers loans of money (we speak
yaw only of private loans) and not to money alreadyl
out at isterect t Would the Stockholder himself main-
tain this with respect to private loans ? On the con-
trary, would he not say, the Landholders income': as
been reduced, and it is but justice that the income of
the mere Money-holder shlrld., suffer a proportionate
reduction, that the relative . ' of property may be
lt.
restored and maintained. is there any argument
applicable to private loans which would not with
equal justice apply to the National Creditor ? We
conterad that there is not.
Qaes'tions of equity are generally easily understood
illy honest men of unwarped minds. It is plain that.
ea do &coo of justice, the National Creditor could