The British Press; or, Morning Literary Advertiser.
London, England, 1826-02-16 00:00:00

sod hod relinquished his design of engaging in hostiiitiesulth thitt
we. 1, oat expected dist Captain Burney, Polideai Ageneot
e aupreme Government with the Siamese States, would proceed
to itangkok under an invitation from thence, for Ilse purpose
entering into explanations t egarding the existing war, and Of
docuoing tummies connected with the Improvement of political
sod commercial gelation. between the British Government and that

a Sit..
ire u• demand that the charge of the conquered districts on the
Toisstnen coast, including Tarot' and blergui, ht. been trans-
fmal the Honourable the Gover,tor of Prince of NValcs's
1,1„,,d oho will proceed to that quartet in person, during the
proem meth, to ascertain the conditicn and resources of the
and to arrar.ge measures for its future management. A
c.cimmisscr and two Assistants had been appointed to conduct
tilde /Ls of the Civil Athninistration, subject to Mr. Foliation's

&dem
The proceedings of the Siamese, as moll as the tone of their
tracers to the British officers at Mergtli. 3lartaban, and Rangoon.
hoe been lately of the most friendly said conciliating nature. One
of the Siamese feotlatorics, named the Rajah Chimpobun, having
committed some depredations in the vicinity of Tetmattarien and
Illergoi, to the eatent of carrying off a number of the inhabitants
into captivity. he has n ordered up to the court and put in irons,
seed the cap:tves released with compensation for their losses. The
Stamm Government has also writes to Brigadier-Gen. Sir A.
Campbell, ecplaining the muse of the hasty retreat of their army
from the vicinity of 31artahan, early in the year, and expressing
their wish to place a body
of troops at his command, for the pur-
me of se.operatmg against the common enemy, in the mouthed
November and December.
We elan 'lndentin.) that the (ileneig transport will touch at the
Island of itimrce. to receive on board Mr. Robertson, who has
been appointed Civil Conntissioner in Pegue and An. Mr.
Mangle% the Secretory to the Commission. has taken his passage for
Rangoon in the sante vernl. The report of a hag of trace having
proceeded font the littlish head-quarters at Procne to Ummera.
poet,,
founded apparently on the following circumatance
About the rriesl referred to, Sir A. Campbell had availed himself
of so opening for 1ml:tog a third communication to the Court of
An. explana:ory of the views and intentions of the British Go-
vernment suostspimit to the occupation of Procne; and of its sin-
etre disporit.on to coin into ncgociations fix peace, whenever the
Ring may depute properly authorised Agents to treat on the only
admivsib.e a td saistactory bash. . .

We are htnpy to state, that the troops have been generally
heels, In Assam and Cartier. during the present rainy season.
The latest returns give only 112 sick out of the entire Brigade of
fertile: troops or the Sylhet frontier.
The latest and most authentic reports from Prone lead us to be.
teve that a long period will not elapse before Burmese and British
courage are &gem put to the trial. There is little doubt that the
ersmy are preparing to defend themselves vigorously ; and as they
are within a few days' march of our head-quarters, the first move.
meets Melte Mire ender Sir Archibald Campbell will t t doubt be
st;ended w.th important results, if the Burmese leave him to act on
the offensive, which, however, some triers represent as still doubt.
ful. It is generally believed, in the mean time, both at Proms and
Itaegoen, that a Bye of truce has gone to Unnneratisora ; arid almost
very letter we have seen concurs in representing the obstacles to
regocia ion as far from formidable ; on the contrary, they state the
desire of the Court of Ave to treat as having been unequivocally
marked. They do not, however, enter into each particulars as
would enable us to judge for ourselves.
Preparations are now making for the reduction of Bhurtpore.
Alwur, and several other places, where disorder and disorganisation
More for sumo time been prevailing. The followers of the lihurt-
pwe Usurper are said to be committing many ravager in that neigh-
beurhood ; and the treatment of our authority by the Ranee of
Jugpore has been such as to demand notice. It is therefore more
than probable that that part of India will be the scene of import-
ant operations, as soon as circumstances permit.
The Elizabeth, which niny soon be expected, brings a large
quantity of silver from China, consigned to the different houses of
agency.

SEPTIMIER 22.

A letter from Rangoon. of the 13th alt. mentions that the steam-
vessel (with Sir Archibald Campbell and his stiffen baud, return-
ing from Rangoon), WWI nearly lost on her way up to Frame,
bating unfortunately got into a whirlpool between Donabew and
Stmata. Through the strength of her engine she had best part of
bet bull over the whirlpool, but her stern having got into the vor-
tex, she swung' round and round with great violence for several
minutes, and all on board, it is said, despaired of her getting out
safely. A Mr. Ventura, who was a spectator eta small distance,
io a b ut. hastened towards the whirlpool to save what lives he
weld in ease of accident. Luckily the paddles of the steam-vessel
ace. outside the verge of the vortex, and Mr. Dsrwood, the engi-
ma. rut the great. as power of the steam to the test, which brought
hot off—but poor Mr. 'Ventura, with his boat, went down, and was
wen ea more!

The discussion of the currency question has every
where created the strongest interest, and the sensation pro-
duced by it has added not a little to that breaking up of
all confidence which has produced the present difficulties.
The drawing certain quantities of local notes out of circu-
lation, with a view that from the diminution of the mass
an increase of value may be the consequence, is a method
of removing the evils of paper circulation which may,
under certain circumstances, contribute to the purpose in-
tended. But such a measure may be one of doubtful po-
Ley if brought forward at a period like the present. The
attempt to alleviate the evil seems likely to increase it.
The country banks, which were but slowly recovering from
the tremendous shock they had sustained, are not in a
catc to bear up against another concussion. The greater
part of them, it is expected, will throw up their establish-
met from the utter inability to carry them on in the face
of the danger that threatens them, and the embarrassment
to which they will be exposed. The failures that may be
expected to arise from this sudden withdrawing of the
usual circulating medium in the great manufacturing dis-
tricts, and from the consequent want of means to pay the
weekly wages of the labouring population when the accus-
tomed supply can no longer be readily obtained, must
greatly enhance the distress already so severely felt. It is
idle to expect that gold and silver sufficient for all the pur-
ples of commerce can be substituted for small notes,
under the present circumstances of the times. It would be
no doubt of considerable advantage to the country could
this be affected; but unfortunately, the measure which
creates the exigency can do nothing towards providing for
it. The revolution which is at this moment going on in
private fortunes is appalling. The end of all this train of
evils is beyond the reach of calculation.
With respect to the refusal un the part of Ministers to
adopt the measure of relief which was extended to the mer-
eentile community in the year 1791—whether the thus
cluing off' all hope of assistance may forward the cure,
or vgrarate the suffering, is a point on which it would be
Superfluous to offer our opinion. Experience will soon
bring it to the test. We shall however give, in reference
to the measure of relief at that period, the sentiments and
observations of a writer, whom, from the soundness and
solidity of his views on all that respects the important
subject of public credit, we cite as an authority on which
we think the public may rely with at least as much con-
fl.len.:e as on any of the academicians in the new school of
political economy:—
" Ths succes of the remedy which the Parliament admi-
nistered denotes what was the nature of the evil. A loan
of exchequer bills was directed to be made to as many
mercantile persons, giving proper security, as should apply.
It is a fact worthy of serious attention, that the failures
abated greatly, and mercantile credit began to be restored,
not at the period when the exchequer bills were actually
delivered, but at a time antecedent to that era. It also
deserves notice, that though the failures had originated in I
on extraordinary demand for guineas, it was Hot any
simply of gold which effected the cure. The fear of not
being able to obtain guineas, which arose in the country,
led, in its consetwetices, to an extraordinary demand for
itstk notes in London ; and the want of Bank notes in
Inndoti became, after a time, the chief evil. The very
IPtctati,m of a supply of exchequer bills, that is, of a
nPPIy of an article which almost any trader might obtain,
which it was known that he might then sell, and thus
n
into Ilsok notes, and after turning into Bank notes
1;14 also convert into guineas, created an idea of general
'l7`neY• This expectation cured, in the first instance,
he distresi ,f London, and it then leasenell the demand for
aim* in the country, through that punctuality in effect-
Divthf-' I,,nelon payments which it produced, and the
ers.d
al confidence which it thus inspired. The sum
itte by Parliament to he advanced in Est:twine
1111 was &ve millions, of wiiiiit nut oue half was taken*

Of the slim taken no part was lost. On the contrary, the'
email compensation, or extra interest, which was paid to
Government for lending its credit (for it was mere credit,
and not either money or Bank notes that the Government
advanced), amounted to something more than was neces-
sary to defray the charges, and a small balance of profit
accrued to the public. For this seasonable interference,
a measure at first not well understood, and opposed at the
time, chiefly on the ground of constitutional jealousy, the
mercantile as well as the manufacturing interests of the
country were certainly much indebted to the Parlia-
ment and to the Government:'•—An Inquiry into the
Nature and .FlPcts of the Paper Credit of Great Britain,
by Henry 7'hornton, Esq. 31.1'.

The above statement requires no reasoning on our part
in aid of the conclusion to which it leads. The great ques-
tion at present is, not what is the best means of curtailing
the paper-currency, for that is easily done, but how, con-
sistently with the regulation of that currency, can we give
steadiness to public confidence and stability to public
credit ? It is a futile attempt to restore gold by the mere
extinction of bank paper; if we want any proof of this,
every succeeding day, we fear, will bring fresh evidence
of it, net only from every quarter of the kingdom, but
from every class of the people.

• The Commissioners named in the Act state in their report.
" that the knowledge that loans might have been obtained, suthced,
in several instances, to render them unnecessary; that the whole
number of application% was three hundred and thirty-two, (Minims
amounting to 3,855.0:24/. : of which two hundred and thirty-eight
were granted, amounting to 2,2n-2.01004; forty.tive for sums to the
amount of 1,213,1001. were withdrawn; and forty-nine were re-
jected for various reasons- That the whole sum advanced on
loans was paid, a considerable part before It was due, and the re-
mainder regularly at the stated periods, without apparent difficulty
or distress."

They observe that, " the advantages of this memore were
evinced by a speedy restoration of confidence in mercantile trans-
actiors. which produced a facility in raising money that was
sently felt. not only in the metropolis, but through the whole
extent or Great Britain. Nov was the operation of the Act less
beneficial with respect to a variety of eminent manufacturers, who,
having in a great degree suspended their works, were enabled to
resume them, and to afford employment to a number of workmen
wbo must otherwise hare been thrown on the public."

CITY, WEDNESDAY EVENING.

The attention of speculators was chiefly drawn this
morning to the failure of the large mercantile esta-
blishment of B. A. GOLDICIIMIDT and Co. Another
object of attention was the purchase of Exchequer Bills
by the Bank, which appeared, from what passed in the
House of Commons last night, tohe under the unction
of Ministers. The Exchequer Bill Market has conse-
quently assumed a very different aspect to what it did
yesterday. These Securities were to-day at par to 2s.
pm ; yesterday they were 22 discount. In these times
of excessive agitation, it can scarcely be necessary to say
that the business in Consols was immense, and all the
eminent brokers deeply engaged in very extensive opera-
tions. The early Account Bargains were done at 742,
from which quotation they reached for a short time 75,4„
and then receded to 7411. They were subsequently re-
ported at 75k, and finally closed at 74i, after six hours of
as severe anxiety as was ever experienced on the British
Stock Exchange. Bank Stock was 190. There were no
transactions in India Stock. The Bonds were Hs., 10s.,
and IS.. dis.

In the Foreign Market the anxiety of the jobbers to ascer-
tain the effect of yesterday's failures, and the question of
the payment of the dividends on Colombian, Portuguese, and
the Five per Cent. Mexican Loans, excited much attention.
It was reported that dividends on the Colombian Stock, for
two years from the date of the contract, were deposited at the
Bank of England; that the dividend on PortugueseStoek was
regularly remitted from Lisbon ; and that as the amount
of the new Six per Cent. Mexican Stock was in part applied
to a reduction of the previous Five per Cent. Loan, this
Sink ns Fund would regularly go on, and the Mexican Mi-
nister might make arrangements for the usual payment
of the dividend with the eminent house of the contractors
for the lite Six ter Cent. Loan negotiated in London, on
wh'eli the dividends would, u a matter of course, he regu-
larly paid. There was, in consequence of these statements,
little alteration in the prices. Colombian Bonds were 40.
Mexican Six per:Cents. 51 .52. Portuguese 65 to 69. Brazil
43 to .50. Buenos Ayres .53. Russian were quoted 70 to 73.
Greek 18. Old Spanish 84 to 9.
An express arrived from Paris in the course of the
morning. The Funds on Monday declined about one per
cent.-5 per Cents. 97f. 40c.; S per Cents. 63f. 60c.
Real dvl Monte Shares were at par to .5 premium, and
those of the Anglo-Mexican IS dis.

Letters from Pernambuco of the 30th December, state
that Sir C. Stuart still remained at that port. The cause of
his Excellency's continuance there was matter of surprise
amongst the residents.

By accounts from St. Helena it appears that the Com-
mander, second officer, and eleven of the crew, of the
Rambler, wrecked at St. Felix 11th Auguet, were mur-
dered by the natives, going on shore to get refreshments ;
the first officer and 13 of the crew were saved.
Despatches were received yesterday morning at the Co-
lonial Department, from Major-General Sir 11. Douglas,
at New Brunswick.

On Tuesday night Mr. Clews, the King's Messenger,
left town with despatches for Vienna.
The Protestant Dissenting Ministers of the three deno-
minations, residing in and about the cities of London and
Westminster, have adopted unanimously a petition to the
Legislature, praying for the speedy and total suppression of
slavery in the Btitish Colonies.

The. whole of the demand; of the IVeymouth Bank of
Messrs. Henning and Co. will be paid in full.—Globe.
MESSRS. CREWHEON AND Co.'s BANK.—We under.
stand that a statement has been exhibited of the affairs of
Messrs. Crewdson and Co., from which it appears that the
amount owed by them on account of lodgments and ba-
lances is about 50,w/. ; and that they have a surplus,
above paying YOs. in the pound. of about 3Y,000/.—Man-
cheater Mercury.
Monsieur Merceraux, the merchant who was wounded
in a duel with a gentleman of the name of Patterson' at
Blackheath, on Saturday, underwent the amputation of his
arm on Monday night, in time to prevent mortification, but
he still remains in a very precarious state.
NORTHUMBBRLAND Coos TV ELECTION.—We stated
in our last that Lord Howick, on of Earl Grey, and the
Hon. T. H. Liddell, had offered themselves candidates to
fill the vacancy in the representation of this county, occa-
sioned by the death of Mr. Brandling, On Saturday
morning list another candidate appeared in the person of
Matthew Bell, Esq. of Woolaington, and this had scarcely
been announced, when, on the very same day, a bill
wait is•tued intimating that Lord Howick did not think
it advisable to proceed to a poll, and therefore de-
clined a contest for the present. An address from
T. W. Beaumont, Esq. the present Member, to the electors,
in which he deprecates the conduct of Lord Howick and
Mr. Liddell, who nA content with soliciting votes for the
approaching election, had gone so far as to seek promises
for the general election. IVe have made particular in-
qtfiry, and we find that the charge is well founded—that
these two new candidates had determined to take Time
by the forelock, and if possible by any means to se-
cure their seats in l'arliament at the General Election.
We admire, therefore, the manly promptitude with
which Mr. Beaumont denounces the system of forestalling
—this taking advantage of him in his absence; and we
admire the high spirit of independence which characterises
his address to the freeholders of the county. It is gene.
rally whispered that an understanding has taken place be-
tween Lord Howick and Mr. Liddell, that the former was
to retire for the present, in order that the latter might come
in for the short Session of Parliatnent, and that they
should unite their interests, as Whig and Tory, at the Ge-
neral Election. We do not vouch for the truth of this,
but it is confidently stated in conversation. But if any
such arrangement has taken place, we have little doubt it
will be frustrated, because the electors will not suffer
themselves to be thus bargained away, and the interest of
Mr. Beaumont, a gentleman of known independence, is too
powerful to be shaken by the attacks,of any of the candi-
dates, singly orjoktly.—Tyne -11erearj.