London, Saturday, June 5,...
The Times, 1824-06-05T00:00:00

We last rnii3resecexived the. Paj morning2tnc evenirgpapers' of lWednesday. The most impottant part of the cor,tentsf the l relates to the proceedings of the Chambers. On Tucsday the Duke DE LEvrs, the Reporter of the Peer: Comnmision on lhe project of 'aw for the coaveraion of the renfes, made bist lal hMalNsy of the ' tbr;hDlinisterialpla'n,.~or5 in other ords, his. reply. -to.-the spealier i *htihd taken i diferentaview ofthe subjdce-ro!f tt conhtanedi- his original report, .A discussio.n then .onmruenced en; th yaend. *ments. - .t.he.o3ving is ,tfie sme ent pioposed .by Count IdoY Iate ilini:stettfinance,) ,hichlwasoppobedby -It and 6ppoitediih a 1-repyby its'ut'bor , ',' .: *s Tfie iinister oE,ance is autlorized to substitute9efltes at 4.3 percent. for thosecreajeA by the iate -at 5 pe.r cent., either by-an 'exchange of 'the; 'against 'the 41 pet cents ,or ? rembarsement.of the s per cents; by a cotiract At a'4 '-'H1. This operatiion sh,all;,. oltake place by fifths, or in y less proportion? by aporating on ivery pottioft of the rentes in 'the samc proportira, cb i inidngby thoise portits of t,e rcntes, which, united und6r one namne,'shaU'not'exceed 1'0 francs. - 2. It shal notbe-renewed in the samne six-months. 9. It.shallwbe reserved to the holders' of five per cezfts. to make their election betyreen tliere.paywent of. their capital and the con. versiot'ofitJato the.new 4 stk. . . ."4. They. bhall beUllowed forty days tomake this election. "et f The''contract'fotth.i new f,our and' hal? stock, for the repay. mlentof'the .dentient bol s, shaD bc iade:at.a pblio bidding, ,s-prescribed by thelaw of the U7th of-March, 182S. " -The-reimibnsernent-offt'ne holders of. r.enter who.may reftise tbeir reduction, ,hallttA placJinthecour,se qf the half yearwhich follows that in which the operation- shall be terminated, in conform. ing to the order of their inicription ih the registers, wichshall.be opc,niA'eat th e TrM%AsTXyi' .. 7. Tbe_new.A-siockshal no.be liable to be repaid till -after the opnversion,ofthe wholeof the old fives-susceptible of. reimburse. After. the diseussion of this ndmenient,' tbe. Chamberadjoirn- ea till: Wednesday.. On that day the Chamber divdcd bn the above proposition, w7hen the Ainigters wre left with a majityof &nly two,. the numbers being for tie amend ofent,.112, and against :t, 114, Every persor ho kowany thingit the Tate d in terest, andthe statcof thnoney-miarlet, m Franceaidit is free fro.m ;ny preconceived bias in faiour of thlle .nanricipecalatioa to which the Ministerial project give. rice, must admit tbewlsdon and justice of Count Roy's amendment. That the rate of interest has .bt felN s much a's 'to admit of the Goyernment borrow.. ing at ft'ur per cent. is evident, from the, circumstance3 of. thefive per centschaving&only attained par abeut a month -before thce. new plan was jiroposed, and from the necessity ot'.engaging so many great captalists.to art.upon the fearsand wants of the'sall annui . tants. Tbat tho reductionor conversion can be effected on the terms proposed, there is no doubt; but as the details of the plan have no reference to existing cicumstances, the Minister m.ight as mell have ,ven thc option of three per cent., or repaymnent. as repayment or 'four. per cent. The amendcment of Count Roy seemed to give a middle term suitable to existinig circumstatnces, and would, hesides, .if adopted, have had the advantage of asaving the uecesity. of .cre. ;atirg ary additionAl-amountof debt against thestate. .. Aftertheanmindmeni of 12. RoY and the other arnendmntnbad 'beei re3ected onWednesday, the mikhteiialpri was. aged t, !and is ordeTe&dit be. carried into execution' Im the following manner: is' Theoperation shall he successively efflcted by fifths, upon ,eachportion ofrenter; each fifth may Jbeapproptiated to theconver_ sion orliquidationin the quarter which follows that in which`the ,operation shallhave been ellected, for anotherfifth. "T.o provide for, the liquidation of each fiEth, the MAinister will open a loan upon .the new funds, in 3 per cents. and 4 per cents.,- by the medium of. public bidding. ;." The 5 per cents. wili be-received in payment at par,and by pre. ference an tau?x d'adjydieation. .; ' The sar'plus ofthfunds willbee supplied by the capitalists ad.; mitted by adjudication, to charge themselves- with the payments *hich may be reguircd." It iq sai:in dle Pilots that M. SAnITonr` has surrendered his share of tbe proifits that might accrue to him from his interest in the 'eontract gor the conversion oftihe renters. FBESC}I. FuScs, PAnIS June2.-.Five per..Cent., optned at 104. 25.; closed at 104. 50.';'-iank Sto.Lk, 2,002. 50..; Neapolitan. 5 ler Cent., 96.; Royal Spanish Ioan, .18b23, 64. Exchatge on Lon. don; onemonth, 25; 25. ; three aonths 25.. _..fours Au*ntiquec LOANDON. s3JRD4: JUNE R 1824