We beg to call attention ...
We beg to call attention to the present situttion of tbe holders of 5 per Cent. Stock of 1797-a portion of the well- known " Loyalty Loan," raiged in the commlencement of that year. The question turns on the eous.,Ti.u6tion of the act of Parliament,, by vyhich cerji privileges are under- stood to be conferred en 'tne holders, but wbhicl does not elearly dlefine the nnode according to wvhich those privileges are to be clairned or exercised. This stock is irredeemable, unless with the consent of the propiietors, until three years after the other 5 per cents. existing at the time the Loyalty Loan was rrade, should be paid off. (The redemiaption of the S per cents. took place in July, 1822; and it follows, thereforc, that the holders of the 5 per cenits. of 1797 may be paid, ofF at par in July, 182b.) But as a good deal of patriotiG feeling was held to be connected with this loan, a still further privilege was conferred onl the siubscribers, which was, that in two years after a definitive treaty of peace, they, the holders, ahould be entitled to de- `m1and ofGovernmeiit, either payment at par in. moniey, or 1331. 6s. 8d. in S per cent. stock (equivalent to buying 3 per cents, at' 6); for every 1001. .5 per. cents. of 1797. The 3 per cents. iow -being at 94',t it'iclear; that if tbis'de- mandl is niade% uit)le holders, every iC'Oof this stock, is wortjb 125142 typile,' if the proper.-pi6noil-i'syj,:n'pgl&ect- pacd ,hy, t wjlI enlj'Iget 1;Q1 aiitiey .^vt1 ti0i tLe le, wl period otf Ted Wptidni. What' is Wi)f6dJ 'tl-ere , is; l'at, EoxnepuEie.otjceshogldbe gten,2 gitler biy thebalnk~ or the Government, from tich thees persont may learn what tdrpiirpileges Aea Pliowtobh4ercise them.n Though b,adva~iige of-any neglececdf the '6Iderof th& c 'fther ign&alice of -the-pr>Qier1Thd,e4of prgc g4e7ing.'he lveiy idif4reet.foot.t ing, howevei, on welich these {eirs6n are nRow plaecd, a's conipar,eR',wvttl .ceoo'ritoional re~dit1ors, may serve to show-with what a lack of foresight many of the financial barg nq.'q G,reat Britaui wre made.