The Express.
London, England, 1850-08-31 00:00:00

Vie efaIVMS.

OUTGOING MAILS.
TM Wed Twits Mahe. enebedles Honduras. Hums. Ha.
melt. ani Sannel (St. Dentee), aad isrladiait V.sto •
mink. How Geemet, end they Tows (It de Mani*
will be mule up es the weeekti et Seetamsber 2.
TM meth Ise Maim will bit mile up on Smp•mber 2.
The 'withu
nhr ILehMs.the sail Seems Arse, will
M swim es the realm et Sept. 4.
The 'stile he IMAM Neeift Amnia. Hennas. and the
Veiled Matte while mile up is tit manta el Seek 6.
The nails nal lintedllm to the Med.norramems. Sept,
) los, Wis. IkerlLeas, Ike., will be made up ea the
erotism of Sept. T.
The sails Mt Listen, SpeM. turns Gibraltar will be nab
an en 2,.peetabir 7.
The mat far Hememeb, Ilteduras, N :mantel,
Chill, and Pern,wl/1 be sea& up mate siornies et 17.
The fouls tar Gibraltar, Hatay Orem% the koalas de,
Baia, Ceylon. Wis. awl Chime. sit Seuthemplesr will
be made up en the menthe et Sept 20.

Mal IrATIOL AT IMMO! 0311111111.
Tuts ihr-AtMies,TA. 17.".
T11.•11101111 AIM.

LONDON, SATURDAY, AUGUST 31.

Ws are awry to utter the opinion. that states are
leas intlrenced in their asknowledgment of debts
and in the punctual diecharg• a/their annual interest,
by soy abstract principle of honesty, than by the
perfect knowledge, that in these days credit is the only
treasure, and that the facility of drawing on th et
treasure in an hour of difficulty or danger, is worth
far more than any saving could effect, or any imme-
diate gain that diehonesty could secure.
An ancient politician would have been much
astounded had it been foretold to him that the time
should come when war was altogether an affair of
money, and that a state of things should exist in
which though all states kept up their mutual rivalry
of each other, and maintained in support of that rivalry
enormous armies; still it was open for any one state
to borrow from the wealth and wealthy men of ano-
ther state, meet to it, and moat in danger
from it, the graii opposedaterial and sinews of war.
Abmird as this might at first seem, there would
still appear same redeeming points in the system, since
it would tend to make governments dependent
upon a general monied public, caring very little in-
deed for patriotism or national interests, but still
bound to respect the prudent and the wise, and to
close the gates of the world's treasures against the in-
temperate or the dishonest.
Whether, however, this monied public has been, or
is even as yet, a very discerning one, may be doubted.
It is at present somewhat tory and conservative in its
leanings; and this is out up to it as • reproach.
Some four-and-twenty years ago, however, it was
decidedly liberal, most ready to open its purse
strings to any. young nation that would undertake
• struggle for its liberties. Despotic governments were
then so stu•itily exclusive and averse even to traoo,
that the spirit of the commercial community was
eager at least to open them. Times have changed
however. Countries that have gone through revolu-
BOW, and even won constitutions, have not proved in
all instances either liberal or honest. Republics have
repudiate' debts as well as parliaments and trines.
The young liberal parties of tai emandipated nation
are found to be peculiarly . jealous and prohibitive,
in order to codd:o up their domestic manufactures.
And altogether commercial spirit and se gaci ty is far less
inclined to put fai di in and make @salaam for liberalism
and liberal efforts, than was the case • quarter
of a century ago. As a borrower, the Czar of
Aram is more highly esteemed than would be any
Corteof the Peninsula, or the Estates of any semi-
despotic monarchy.
In this the monied public is about as Wren in its
predilection for one extreme, an it was in that for the
other. And when we consider the motive which
makes one government so scrupulous in pay-
cthe interest of its debts, and another so
areless, we might not be eager to trust for any length
of time even the punctual debtor. Thom states, in tact,
pay most attention to meet the interest et their debt,
who feel that they may want to borrow. There is
nothing, for instance, that Russia would not do, at
least the Russian cabi or teethe? than fail to be punctual
in the payment of a semestre. Austria, struggling as
she is in the sea of bankruptcy, will still make
gigantic eff3rts, we may be assured, to preserve her
credit. And yet we know this punctuality has but
the motive of making greater and greater drasghts,
utterly beyond the resources of the empire.
Of all itates, wham the one that was most Ms-
rested in a rigid attention to its debts, and to mestiag
their interest, was Ore( ce. That little country was
formed in hopes of future aggrandisement. And the
sole policy of its monarch and its statesmen should
have been to have laid and prepared every resource for
the time when it might mike a start. Instead of this
the lubberly idiots that have filled the throne and
ministerial seats of that country seem to bare not one
idea beyond the butterfly policy of enjoying the hour,
and spending what it produces, thus betraying their
dynasty, themselves, their noble country, and a
nobler cause. Who, in any case, would lend them a
farthing or a man?
Spain enjoys an unhappy eminence as a repudiat-
ing state. And her English creditors are apt to point
at her with unmitigated scum and resentment. And
it certainly does stem hard that those who staked
their money in backing the Spanish struggle for
liberty should be met by the triumphant liberal,
themselves, when in possession of power and of a
constitutional throne, with deaf ears and harsh terms.
But the unfortunate fact is, that Spain is not a country
that wants credit, or that is in the habit of receiving
sad appreciating it. Apart from the great current of
European politics, with frontiers naturally and inde-
libly marked, she has little to fear in any ordinary
state of things. The jealousies of other powers would
alone suffice to defend Spain. Nay, the jealousies and
conflicting interests of other powers are Spain's best
support in maintaining her hold over her remaining
colonies.
Spain, foe these reasons, as well as from the satis-
factory state of her finances, has no need of
borrowing. When the royal marriages were in
preparaiion, millions were raised with ease,
and dissipated to Lome PHILIPPE as the dowry of
the Duchess of MONTTENSIEZ, or given by handfuls
to all who laboured in that nefarious plot. And
nothing could be more easy than for an able finance
minister to raise the revenues of Spain far above her
ordinary expenses. If, therefore, there are ample
revenue to pay, there is not the same preening mem-
city to do so which renders other countries so punc-
tually homed. All we can say is, that what Spain
stipulates to pay henceforth she is well able to do'.
The willingness is another affair.
But it seems that Spain, although not wanting money
impolitical ends, is anxious to raise it for application
to material purposes. Her =jointers would apply it
to railroads, to great public works, to the ports, and
to the re-establishment of the marine. This expendi-
ture, though not imperative, is desirable, and, in part,
reproductive. But the bars idea of raising money
necessitates the settlement of debts already incurred
and neglected. With this view, the Spanish govern-
ment has made propose= which the bondholders have
met in a spirit of great concession and fairness. It
should be borne in mind, however, that the final sanc-
tion of any compromise must come from the new
Cortes, of which the complexion is doubtful, whilst
the views and motives likely to weigh with it are yet
is embryo.

IT is certainly carious, as well as agnificant, to ob-
serve how readily every question of any public im-
portance in America now resolves itself, more or less,
into a mere farm of the chronic, dispute between the
two great parties which are arrayed 'gained each
other on the embarrassing subject of slavery. No
matter what aspect a topic may at first ussome, or in
what quarter it may first present itself, it soon yields
to the necessity imposed upon it by what the Preach
would call the situation, and gravitates inevitably to.
wards that which is, for the present, the matte
of all political action in the Union. It
is thus that that which appears to be but
an ordinary question of htendrein domestic policy
sakes at once to put both the great camps in
motion. The andantes of a new state into the union,
when merely carved out of the existing national
domain, is made a gnat party question, as in the
ease with thapropaea annexation of any new terri-
tory to the coafederacy. Questions of war sad
peace, when with a state situated like Mexico, share
the same fate, and even discussions about the tariff'
amuse more or less the hue end savour of the great
dispute. This shows not only the extreme sanative-
nem of the public mind in connexion with it, but also
the difficulties in the way of its adjustment from the