The Statesman.
London, England, 1821-07-13 00:00:00

.4NTARCrIC

par."

[IPMnIS THE NV% TliMk 4IAZETTE 01' Mls I.)

V...ela truest the lands Aiiiiiirui to 1.14. 4 dia! "if
Horn. have arrived in dill rent ports, wills eareurs is:
teal rkists. *1 Ise re.eiJiss visited .y the New Ilsork ism
tiff:dor, lie its alkint the Witold, f 6.1 dee., whey
• •grtabis• Fitt i%an Carr, that a li.tle sins., in a test
tired pl4res, and tontse 0n t..e rot log, err 4!;
toe torsos ut it that rTist. The dreary csitnata ettiti•
him. &inne the entire boomer. perpetual snow an I
tor ; not a tree, nor feels a slush apron,.
•1 he IP iurrals. heanaut house by air. 11. Astor. ar,
partly primitive eau psesly vulean.e. The saottpl..•
pito:u -ell to Dr. Nlitchill are-1. Quarts, in
and chryytaiiseil forma. 2. Atosthyst„ is
3. Porphyry, in small lavaboes. 4. How, Onyx, its
pebbles. 5. Loots of course dint. i. ,ElegAtit
Zealite, like that of the Fetro thonge in the Norti
Atlantic Oreaa. 7. Pasties Stone. to. Pyrites, sur-
charged with sulphur.

.1 he manuscript chart made by Mr. Hampton Stew-
art is an instructive aiition to geography, and ought
to be incorporated in the charts of the globe.
ti•ologists will learn with surprise that the biih
grounds and summits of the rocks in several of the
spo:s that have hero visited, are 'crewed with skele-
tons of whales, and relics of oilier marine animals,
leading to a belief shat the whole of• the mates al'
have been hove up by the operation of volcanic
(ruin the depths of the ocean.

Further disclosures of the natnral cnnoitution of
this c:iri,m4 region are expected with impatience from
future adventurers. There appears to be a u stir lick
lair tee* and original °bier% ations.

It is also hoped we shall soon receive a more full
and satisfactory account of the Tetra Australis, or
Continent of the southern hemisphere, ocrupyinp the
vast space between the trActs already surveyed and the
Pule.

!Went:stet:, Jet., 10.—.1 melancholy accident oc-
corn dat Ilighain en 'flours,lay last. As Fredericic.
third sun of 31r. Peter 'Us :wan, thatylace, a voeng
won axon: twenty years of age, wan passing near 11r.
Stunt's on a roi!, the animal tell.witk bin. arid he
wrs thrown on his head, and rime, iced a violent concoo-
lion on time lonsin. Surgical assistance was insonedh
only procured, but i.e stied in twenty-four hours after
the accident. It appears that the :Jim' toot of the
colt ranght one of italore fret, and in its fall the shoe
was torn utE
It is in the esotesaplation of Government to build
barracks for 1300 omen on the Synth of Blue Town,
Simeernes, and to occur). the present one' in the gar-
rison with mousioes.--(ltociestrr Chszllrc.)

_ ~ 1.

" The principal to be irrefteetnahle for ten years—
.the Company . ing to theniselves the right of por-
chasing at any tiwe of Creditors who may be willing
to spit.

" The principal to be payable in Bengal only.
" Fawn mouths' notice to he given by tlor Compatoy
of their intent' to pay off any part of the Loan tif the
Company intend to reoleem any part of it at the ex-
piration of ten years, notice will lir uivril at the end of
right years anti sine months fro:n the commencement of
th,. Loan.

" The interest to be payable half yearly, at the option
of the Creditor, either in Cash, in India, or by Itills of
Eitrhange, to 1w dawn half yearly an the Court of Di-
rectors in 1.4.11,1011, Ili 12 months' date, and at two shil-
lings per sici a rupee.
Every holder of securities of the new Loan may at
illy time alter the mode of receiving interest, on givi•ig
to the liential tiovernment three months. notice previous
to the iffirrest becoming ditc.
" Obligations of the existing Six pee Cent. Loans u :II
lie received in Siiliscriteion to the nee Loan, it a rate to
hr fixed by the Bengal tioyernment. '
" Cash Subscriptions, in India, will be received at

onarcvloss TO THE 141 W LOAN.
I. The immediate reduction of the exchange from Y..
64. per Burr 2., on the bills for the interest, whit},
i. at per cent. on the Proprietors' annual incomes, ..sing
an abatement of interest equal to IL 4s. per not.
Y. On forcing the Proprietors of these Loans to re-
ceive pl! went of the principle in cash, by which they
will be exposed to an uncertain rate of exchange for pri-
vate bids; or to subscribe the amount to this new pro-
:Bused loan, which is not remittable by the Company,
a toile the interest is remittable at 2s. per rupee only
wooly it Wire, the subscribers to whatever premium ur
I • the Bengal Government may subscribe, as an in-
•hiersisent to transfer their existing paper to the new
loan.

That the Company have the right or privilege of
'railing theitise!ves of any ineiliental ability they may
'erive from their command of money, proceedimm
rront the depression of trade, anti Vic low s:ate of the
exchanges, to p'tv off the niiretnittable loans, cannot
he questioned, and they Maly jit‘tify the measure upon
oat prim iple, howev-r injurious it may be to their
credi•ors.

. Had the Company proposed a reduction of interett
to five per rent. it wonld have proved more aceept-
.l le to the eretlitort ; and a jest regard to those per-
s.ms, who, hot a few years ago, were obliged to tun-
nit to a relaction of two per cent., ought to have in-
.need the Company to offer a more equitable mode for
Accomplishing the object they had in view, than by
t itu. depriving them of the advantage they possessed ,1f
fretting their property remitte:l by the Company's

-8 'Upon thn redneti,m of the interest in 1810, fro:ti
to sin per cent— the distress was secretly ft It,
am l the♦ w•e•re led td suppose that the terms of the ON
six per rent. loans would he adhered to, until the Com-
pany were in a situation to discharge their °blip-
.

Lion; from their own it.itural resources . Instead of
this, they are threatened into a compliance with the
present unjnst scheme, at a.time when they have not
the power of remitting it to Europe, except thronErli
the medium of private hills, and at a very unfavourable
rate of exchange, even if the state of the trade between
Inuits and Europe would• admit of it, uu hicb is far crow
brine the case. 'I he creditors are therefore left no
alternative, hut to subscribe to such terms as may best
suit the Company's convenience, by exempting the
Court of Directors from the danger of being drawn
upon for the interest of thr whole of their India debt,

calculated to be nrar millions sterling, or two
millions per annum.
Those oho are concerned in the remittable loans.
both for i•errest anit principal, which amount
twelve or thirree,i minim's, have nothing to apprr.
hend, aim..., if they are ,lisposed to give up their ad-
vantages, they may dictate their own terms; bnt the
persons who.re in the !bans prior to Ittl3,
grestly excee l those of the later period, must either
submit to receive payment in cash, or subscribe their
securities to the new loan, and have the interest paid
in cash, or by hills at 41. per rupee, and the principal
ultimately paid in rash at some indefinite time. If
they want to sell their securities for the purpose of
being remitted by p ivate bills, it will be at a heavy
discount. At present money is regorging in Calcutta
as it is in London, from the languid state of trade,
and in the absence of all speculation.
It is to be lamented that no wher expelling wig•
gritted itself to the Direcors, but the unjustifiable cue
they hare now pro?4sed.


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