The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-04-21
England.

BIkTH OF "A PRINCE-HEALTH VI THE QUEEN-FHE
FINANCIAL PROSPECTS, OF ENGLAND-PRoPosED
OPERATIONS OF GOVERNMENT IN THE SOUTH SEA
STOCKS - IMPORT DUTIEs-rEE INDIAN AFFAIRS
-DESERTIoNS FROM THE ROYAL NAyY-KAF-
FIR WAR AND ITS COST WRECK OF VESSELS
IN THE ENGLISH CHANSEL-AcCIDENT AT THE
CRYSTAL PALACE, DUBLIN - RUMOR OF MRS.
STOVES ILLNESS = SPORTING INTELLIGENCE =
TRADE, REVENUE, AND OTHER REPoRTs-MINIs-
TERIAL RECEPTIONS, ETC.
The Queen has given birth 10 another son at Buching
ham Palace, at quarter past one O'Clock p NJ, 1ll
INST Mother and child are las well as can be expected
&c There present the occasion in the Queen
apartment Prince Albert, Dr. Locock and Mrs Lilly, the
In the adjoining chamber were Drs. Sir James
Clarke and Ferguson the Duchess Of Kent the Lady in
Waiting, the Earl OF Aberdeen Earl Granville Duke of
Norfolk Duke Of Wellington, Duke OF Newcastle Mar
quis Iansdowne Marquis OF Breadabane Duke Of Ar
gyle, Lord Palmerston and the Lord Chancellor.
The Chan celor Of the Exchequers proposed measure
FOR the reduction OF the national debt excited much
tenon in financial circles The details of the plan
submitted TO the House Friday night 9Th inst The PLAN
said the Chancellor divided into three portions The
FIRST dealt with minor stock chiefly and the debt due to
ths south sea Company which amounted, in the whole,
20 go 800 000 With respect TO these proposed to
undertake compulsory operation for if the holders did
not accept the equivalent offered to them they should be
paid of. Viexing the balances command of the
government this might be considered safe operation,
while the Communication of those stocks would effect
quarter per cent interest representing annual reduc
tioD OF Els co., The second part OF the plan related to
the issue excequer bono the third to the youn
tary Communication If the three per cent stocks repre-
senting capital of $500 100000 Both these plans had
one ultimate object viz to lay the foundation Of per-
and and half per cent interest. Exchequer bonds,
which he proposed TO issue, would be transferable by
simple delivery and without cost they would bear interest
firstly at 81 10 per share for given time to be hereafter
named and subsequently at the rate Of 81 los cent
After lS49 they would redeemabe and lastly these
bonds should not exceed $50 900 600 The bonds
would be exchangeabe with exchequer bills from which
he anticipated paying reduced rate Of interest. Ex
ehequer bonds might be sold by government, and the
proceeds invested in purchase Of stock for the purpose Of
c&ncelliDg it, The next point was the voluntary
version of the three per cent stock any time bet
the passing of the act and the 10th of October
exchange them into exchequer bonds two and hall
per cent stock he also proposed to limit the two and
half cents to ESQ and by this provision the
national debt would only be increased by nominal add
ton Of about 90 900 900. This would be but small
sum comparatively, while the object of the government
would be gained In making irredeemable the two and
hall per cent stock These the main features of the
scheme After remarks by several members, chiefly
huoatory 81 the plan, the resolutions passed in
mittee, and the House resumng we're ordered 10
brought up on the Monday following
The other business In Parliament has not been impor
cant The chancellor OF the Exch equer stated that gov
eminent had no intention at present Of adopting deci
NAL currency, although admitting Importance and
TO extent, the desirabeness of such and
would assent to it's being referred 10 committee Mr.
Overa brought forward his motion to reduce import
duty French wines to shilling sterling per gallon
The Chancellor of the Exchequer declared it impossible
financial grounds. to accede TO the proposal
The matter Withdrawn The Chancellor would howe9
81, make further statement on the 18th. bill to
punish assaults committed on women and children
under discussion and Lord Palmerston made eec
tive remarks against corporal punishment On Thursday
both houses voted addresses Of congratuaton to the
Queen Some discussion took place in the Lords the
affairs OF India and also the NAL administration OF the
business Of the New Zeslsnd Emigration Company The
evening wholly occupied by the Commons in a de.
bate on the state Of the Irish consolidated annuites
Inc Following Is detailed abstract of the quarter g
revenue than that received by last mail Accounts
are made up to 9Th April inclusive and the balance of
crease as compared with the sponding period of
Pfooens year, - tAol3 which Is accounted for thus: