The sales of public property in Portugal continue, and the
prices are generally very high-in some instances three times the amount of the valuations. Hitherto, however, the Government has not realized much cash from this source, owing to the arrange- ment explained in the subjoined extract from a letter of the Times correspondent at Lisbon. ‘‘ until all the certificates of old pay-amounting, I believe, to about 800,0001. sterling-are out of the market, the Government does not receive any actual cash for these sales. To say the least of it, it was an act of very great fully, both in the Cortes and the Ministers, to Sanction such a sweeping and unfair measure as this : it is unjust, because all or nearly all the emigrants who held any appointment have been supported abroad by the French Government, the British public, or from the large sums received by the Duke of Palmella in England from the Brazilian Government ; and the nation is now made to pay them their six years' full pay and allowances in these certificates; so that their emigration has been, no doubt unwittingly, turned to a capital speculation, in- asmuch as they receive much more than their due in every point of view."
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