The Statesman.
London, England, 1818-01-07 00:00:00

. _
to 940,0001:-1lf'pee ematt.., elesidlata4ireld in the
one way. or. 114 mutat. ILA' other. We do net
profess to know the public debt of the Tows of Edina
burgh ; and therefere pet Meer as hypothetical caseri
to inottrete itt eltette es private property: Neithite
do we know whether any useaseies have etrr been in
contemplation for putting a step to the acceetelation
of the City Debt, or for paying it off. But if the
present system should come to it stop at any period.
either froM ihsolvency., or from a resolution of the
inhabitants to clear off incunahrances before they be.
cable intolerable, the Town Would find itself in such
a predicament as we hare been imeglaing. To sim-
plify the calculation too, we have gone upon Aesop.
position, that the additional imposts resider/id neer*.
vary would fall on rents alone ; city reties are go.
reerally .levied in this way, whether they affect the
' landlord or the tenant. ' Our object is merely to show
to what estent the borders would fall open the com-
munity as individual. If the City Debt gibe rise to
new ceases, es we think it must do sooner or later.,
they may not assume the form we have been *oppos-
ing. They may be iinposed by degrees, and under
ditTerefit pretests from that of redeeming the debt.
They may corn* upon es in the shape of Se
many additional pennies on the pint (stale, or or
come per cents. added to the shore-dues of Leith, or
to some other existing impost. This sleet. not Ans.
terielly affect the argumeet, since one thing ix pietls
certain, that the debt, both principal" add Lewes!,
•rnnele ptid4 either oil uf. tire hied prepnity. tit tied
inhablltiots, or out of the iiiisia proa,;ee of tlelt
I industry. • ' ' ..
To take i differept 'haw of the mattet4 let ea pp.
pose that the value.of the berit a tile property in gdits.
burgh, estimated' at fifteen or sieteen years purchase
on a rental nf 3!3;9001. is, in mend untrlbliti, five
millions. Then., if this property is an'sweralile for a
city debt of 313,001:01. it, trde italue is dieisibished by
one-sixteenth part; or, supposing the' debt to be
6-26.0001. then it is diminishettio iglus rere.eiglsth
part. In this case every tenement. arid every piece
of ground, is under a mortgage for otre.eiglitli part
of its value; every subject *kith %quota he worth
8001., if there were no debt, r nod be worth nts
snore than 7001. These consequences of the city debt
mny appear perfectly hypothetical to us 'it present;
hut will the inhabitant! of Abirdeen sori-itier the
id.ht of their town as a mere nominal incireihrence ?
The debt of Aberdeen, as stated by the Illsgist s
is 230,0001. The population, acebeding to the .
ear
sos of 1811, is one-thin! of that qt P.diriburgh ass..l
'estimating the rents at something lititsteen a fourth
I
end a filth, the debt will probably equal three years°
entlie rents. Unless Aberdeen, therefore, has a sta.
plus revenue, the interest of the :debt may be consi-
dered as entailing a perpetual 491'4 IS per cent. nit
the rents of that city. Thit may'vlotibe'the way itt
which the money may be raised; but ie whsteree
way it is raised an equal amount will be regirired,
unless funds are already provided. Now, would any
considerate person purchase a piece of property,l4+
ble to such a burden. without making a coneiderable
deduction from what would be its value under eth
I ei
circumstances ?
The principle we have laid •down is iipplicable il
every Burg which is encumbered with *debt, wilt:
nut having any 'dleposahle reviswear, cud is simply
this :—That when the debt equals ease year'S teat of
the Bergh, the burden is astiairialeitt‘ to a plerpeteal
cos; of 5 per cent. nu houses, and the value of pros
party within the Burgh is diminished one-lifteentb.—
When the debt equals t 4 years! rents, the hoyden
is equivalent to a perpetuit cese of 10 per cent. en
house rents, and the value of property within the
burgh is diminished one-eighth. There are, in foot.
cases on record, in which the inhabitants of a burgh
have been subjected to etent (tes)for payment of ibis
Burgh debtr; and, judging frorikpresent appearances.
most of the burghs are likely to be hi.olo—ipurle situ.
titian sooner or later, if the prefect system is allowed
o continue.

.- --________
___T,
N. 4 AL INTELLIGIINGE; • ."• 'ff-,
..........-. • . t .:17!1.1
SHEIRNNss, J'Au. 6.--The Hibernia, .et illiatiepi,
ford, which wai on share on the Blythe lissid,libue
en got off; and has proceeded to Londeso li!s,ia 7 •
s' Po RTSMOUTH, JAN. 6.—Sailed the Canada., heeeris
tor London.
I)Ett, JAH.-6.--Arrived the Arrest transport front
Dover to Chatham ; and a brig, it.insport, No. R 74,
has passed ttirringh from the Westward to the North-
ward.—Came down from the !liver i,e George 111.
Filter, for Calcutta; and Intrepid, Johnson, fa/
Vicparaisn and Bengal; Ocean, (or Jamaica;. Ma.
sienna, Moore, for Smyrna; Hope, Salmon, for Sr.
Th.,mas ; Charles, West, for Savannah; and Con-
stantine, Wetherslt, Hayti, Cosmopolite, Barber,
for Genoa ; Cerel, litatthews,for Jamaica.
FALMOUTH, JAN. 40-.-Sailed the Active and Hind
revenue cutlers, on a cruise. •
DARTMOUTH, JAL. 6..—Artilred off this port the
schooner Moira, of Ilfracombe, from Bristol, la.t
Plymouth, bound to Weymouth, with a general
cargo, having lost her foremast, and both topmasts,
in a severe isle from the S.W. last night; the pilots
will bring her in here, if 'the weather permits ft,
otherwise they will endeavour to.mske Torbert •
Worms, JAN. 5.-4rrited•.here yesterday the
Perseverance, of Wakefield. She was blown past.
the Humber in a gale and thick weather, and ow en-
tering the harbour she sustained much damage, sari
bat for the prompt assistance of the people on. the
pier and three treats, abs meet leave been lest ; se
was got into. the lieboor with difficulty, after leav-
ing an anchor.and cable ou the bat. .
GRAVESEND, J AN. ,6.--kirived the Hester, Wit-
kinsow, from Jersey • and Olive Branch, Hayti,
from Demarara.—Sailed the Sir Joseph Basks, ----,
sod Moreland,. tied, • for Jamaica - Barbodoes
packet, Balstor, forßiarbadoe4; Earl of ilelfsst, John
Ablwrileieb, for Belfast; and the Elekeor, Stepheas,
fbr esSeed. • • ' •
• tr,..,.0.1,. N . ...i..-...___:._.,ft-.
Sul:Mt:ganglia! for Coutri Euroutt.-.-On 'Churl-
day night -died§ i:at hit hoisitriii liaie-rtreet, !it.
JIMMO'si Coast garroato, in' hisgbith year. Toe
esotreildwes descsuededierem the4rst family in Europe
Fthe reblesse, being not oredeWirtince In the.
Weiteiltriblic,,,bed elso. a Prince of the House
ottild;,..: 4,001 t2sitolutt wes also the MOW,
411,1404. the late Admiral of Venice; he eve site
il
*imp er two of the flout palaces in the marlditiors -
and Zroobio. ..?.,,b. ; i

,
.