Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1813-10-21
Raleigh Star.

OF with only small psS5n Killed & wound
ed.
- Raleigh Star
IT,. e, THE BRHS LOAN.
June 3. The PARTIES who intend Bidding
for the loan, aited by appointment upon
tue earl of Skerpool and the chancellor of
the exchedder this morning, when they were
informed that the amount of the loan would
be 81 millions. For every 1907 advanced it
was proposed to give no reduced and 90
Consols."
If we understand these phrases rightly,
and comprehend the nature of the stocks TO
be created, in consequence of this loan (aud
We have taken some trouble to come at the
truth of the matter) the following curious
facts appear /:
The amount of stock raised to procure 27
millions, amounts 70 6 45,eo0,Oo0--to gvit:
6 29,700, COO at 5 per cent.
16,2O0,000 at per cent.
Producing together an interest of C ,529
o00--or rather lsss, than 6 htr cent on the
monies nomnalH raised. We say g nomi-
naliy," for the bonus, premiums and dis
counts allowed, will reduce the sum account
ed for at the exchequer, below IS millions
and half, and the interest on it will be
more than sic Per cenf.
In the whole transaction, no noney ap
pears fsfcr does Me Business" The
payment is made by the transfer of other
stocks TO the commissioners of the sinking
fund--by excheqger bills. or bank notes
the last is the best circulating medium; but
now very much like cur old continental mo-
ney, for it is IMPOSSIBLE thac Tic bank should
ever redeem it With specie.
The paper ofthe Dunk Of England has
excessively matiphed as the specie d'saps
peared. It's bills in sirc1lation in 1907, was
about l2,oo0,ooQ; inhSl0. 23,0O0,00O but
now upwards of.43,CQ9st00. The value Of
its notes, have of course deprecated; for
though in Ia7y a one pound uote is POS. ster-
i,Ag, il will not purchase as much of any
commodity as three dollars, which used TO
be valued at As. Cd. each. The dollar is
now o.. Cd. or at an Advance of exactly so
Jler cent. and one ounce OF Portuguese gold,
worth ia the United States S II 90, produ~
ces in England, FUe bouilds fire ShHiihgs,
equal to S 23 81; having an GGVaHGc of
nearly SO per cent.-40 her cent. ADVANCE
Is, therefore, the medium value Of eold q
silVer compared with the bank If EngiaHd's
notes. On these ndisputabe facts we shall
pursue the matter little further for amuse-
nent and instruction
The stock created tor the loan of 81 mil
lions, which produced at the eXchequer IS
ID millions, was 6 Is 100000. TINS 25 g
millions, supposIng it to be of bunk paper,
might have been paid with 3 millions OF
the same quality of money as the loans oil
the United States are composed OF, and the
interest is really and truly nearly 9her cent
fer dnnnTl.
These plain and simple facts give us
much insight into the oohd iiian of the beast
ed finances Of Great BrfGb1s Where the &C.
nuaI interest for money had seldom, il ever
exceeded, s FER cent before the rupture OIL
the peace by them in 1908.
Weekly Register.
NJ The official dispatches Of Lord Wei
lington lead as to believe, that the French
have met with signal defeat in all the late
battles in the north of Spain.--But British
officials have become oflate so notorious fol
their disregard of truth, that it would re-
Quire an extraordinary took # credulity e
yield implicit credit to his Lordship's ac-
counts.
Who, for instance, being acquainted witt
the real circumstances of the attacks ~
Craney Island cnd Hamilton, can persn,
the dispatches 1t Harm and Beckvifh
Gin the preceding Celumns) without being
astonished at their disregard Of veracity
and their ingenius endeayors so to pefver
ard misrcpfesent facts, as, to arrogate cfeGi
to themselves where they know they bav,
been covered with disgrace Although W,
admit that Wellington has, under the mi
ton Of French masters, bee me one Of th'
at6est generals Of The agc,we are far from
believing (such IS our impression Of British
Official military commui icMionO that hi
lerdslip has gaircdany adVautage. Sonh vii
no doubt give q very difieitnt account ant
prove, that so far from his Lofdslp's na
wing any claim to victory he has ac,pMh
experienced defeat. Butperhaps il we've
be better for the impartial reader TO susren,
BIS o, inion, until future operations shail Ell
a5le ban to judge wi,hcertain,y-
Noyoik Herald ,