The British Press; or, Morning Literary Advertiser.
London, England, 1810-08-17 00:00:00

H DI'FiWR, Sterv.m,

bale 1.0111r1f1•,v .t•
.1...11,1we 111. Ilr.iurlrJ Boo:. ;et

_
I .. J No. in, CI OW n-gungl, tin
Ni.. :11, Filth :it., et, din; fi dr and Curbs,
l'AternnAltr row I and Miittlyp and en Purla•untlt

CHING'S P.ITENT Vt'tlll3l
*re the m .-t •n.treei of
Dutea.ors ircootonte ery PArest
a:. 1• h. 1.. aof ( 44.p.;161 ti tiedwith. They
of alsorti,e, o, the colour of the
fa, ..„ mat o'kil•Niathil artegular Hate of SW' 11454.01% &flouted
after usils u.d.it pain.; tht tog uu ours:stuns ihry
t the. growth of thc b a..clthc) louse tato% by eo

. .
to: to ato uiittin.on ur &ray. Roth as a prevent and
t c liann al rranitue t h.. thova 1...r.1k at M. at.
riae is nun tr. 1,1% all•,ar.l,uu 11w 11 di • I.IOOS Or the high.ist
both in :k sad re.ipertabilitv,
in• I.ati itta'." 1 It. r en to the
t fr OW a pr.% .a .1 nt:t.l4c of il• rut ane•
t• •. 111.4, own tkettil:..a, stamp, tt • and it beyond eortiptlt.
tura, t ..I pt. • a a tact .ali 10 11, or • 11101 *o *Abr. Hedit.iue
11.' la I. el .'•11 16.1 t P.‘root, ~.,•1 other., who hare the 1-11,

.4 .:].I ~ .1 hale taus rsm• ay as a family N. d c rr
t h. oriel. Ilse blowair h or Bowels of '..t
• Vl• a ...altered. whirls st *4ll allisys he (laud to

t.i

I .91.445:41e and Fetal, mi 8999‘e,'99, No 9,
11...0h10cs 9•1.9.., I.) 5C..11, StII. 414 NI 1:I•
, Se ••1 Ilaale,, C9lll,•Gor-h ; M'11;•looi Rostov,
, 19.991915%1, Notsik.vo:•l.• ; ft. 14.11, P94.8199:99.94
as 9, I:%eirt 09olt 79,.:195, I'

tw s lid

Llutotss: awl 10.
at di 9cl utu Ss tad

•, it. L., tr..

is 11,,c, however, in jounce to the present Di.
re:tor, of the Bank of England, to remind the
llou.e, that the suspension of their cash payments.
though it appears in some deAree to have originated
in view taro by the Bank of the pace-
liar d tEcolties of that time, was not a measure
sought for by the Bank, hut imposed upon it by the
I.egishalure for what acre held to be urgent remise
of State polis-y and public expedirucy. And it
ought not t i be urod as usher of charge spinal
the Directors. if In this novel situation in which
their commercial company was placed by the law,
and intrust-d aid) the moist:din:l cod control of
the whole eirculating medium of the country, they
were not Gully aware of the pritschilni by wiielt so
&heat- a inlet should be executed, not continued
to conduct their bo.ine-s of il...cuuuts and advances
according to their Griner routine.
It is important, at the wine time, to observe,
that under the former at stein, when the Bank was
bound to asisw,er 44 notes in specie upon &amid.
the state of the foreign exchanged and the price of
gold did moat materially influence its conduct in
the issue of those awe., though it was not the
practice of the Directors systematically to watch
either she one or dm other. So long as wild was
demandable fur their 'leper, they were speedily
apprite.l of a driereedmi of the exchange, and a
ri.e iu the pike of Oil, by r run swim them fur
that *uncle.. If rt an' time they Incautiously
eNe.e led the proper limit of their 'Aran. re rod
issues, the. paler was quickly brooglit ha- k to
them, by those oh.) were tempted to profit by the
market ;Hire of g.• 1•1, or by the fete of exchange.
In this menu, r evil SOWS cured itself. The
Directors of the Wok Ii wing their appreheusioas
excited In the redaction at their stock of gold, sod
being able to reploce their loss on y by reiterated
purchases of hullian at a very losing price. ea-
tonally contracted their issues of paper, and thus
gave to the reusaining paper, as well as to the coin
for which it was toterchangesble. an increased
value, while the clandestine exportation either of
the coin, or the gold prodliceil from it, combined
in improving the state of the exchange, sod iu pro.
du• lug a corresponding diminution of the difference
between the market price and mint price of gold,
or of piper convertible veto gold.
roor Committee do not 'nem to represent that
tile ni Amer in which this effect resulted from the
r•in•litel -.!t•ch they hate dew:retied, was niettoctly
in.rixtic I h) the !link Directors. The fact of lis
,hrir paper as often as they experienced any
~rent .1- i i of 401.1. is. however, unque.tintiohle.
Mr. B stated, in his trtdroce in fore the
Secret Consenter of the Howe of Lord,.. io the
rear 1797, that in 175.1, when the flack rape-
•iencr 4 arttat of cash ninth alarmed them. ow
Uhreetnre look a bold step, and 'dosed to m ate
the wit incr. on the loan of that year. This. lie
,id, a.,-w fel the purpose of m:lkine a tvinputary
in the amount of tit., tlirm of ;;Irir ape.
1n 1 .ill the three Directors who hove tw.-o
.•, ginjur., 1,.1 ..r your Committee, mines, lit -cone
t•V( ;ton of the Bank 14,1 t• a, having a natly
t lho r petite& tweet lent t. the

hen! of the affairs of the Bank. The opinions held
by tho•e urditidud. are likely to hare an impor-
tant ',tactical influence ; and appeared to your
Committee. moreover. the best erid•nce of what
has constituted the actual policy of that establish.
went in its corporate capacity.
Mr. Whitmore, the late Governor of the Bunks
expressly states. "The Bank never force a note in
circulation, and there will not remain* note in cir.
culation more than the immediate wants of the
public require; fur no banker, I presume. will keep
a larger stock of hank notes by him than his imme-
diate payments require. as he can at all times pre-
.cure them." The reason bare ossigned is more pee.
bottles-1y explained by Mr. Wh.timore. alien Ire
says, s. The batik notes %maid revert to us if there
was a redundancy in circulation, as no one would
pay interest for a IniA mote that he did trot want
to make use of." Mr. W liantore further state.,
"The crsterion by which i judge of the snort prt.-
partial to be ma attained hetsseen the canons of
the public. and the Issues the I:Ink, is by avoid-
ing as much is pounhte to discou•,t -hat doe, sot
'weir to be trAi!ismite tneecalitit+ ,t..pe..." And
further, while asked. %VII inevure the Court of
Directors has to juige he. •hetlier the quantity
of ',auk iii, e. o .coretthezots is it 21 ) time ex.
ces•tie ? ?Ir. 14 hittn-•re st th .1 Or, it measure
of the seer. 0% or atrtn.esi.L., t.t hank rote' is e!•-
tautly I,k the rK:tr 1.• appheation that is
Meat! 1 t•-•tu Ice the r is, coat of head
Mr. l'e its -. I it•i D raty Cetves.iv, ai.l Loa Lir

vernor of the Bank, Mated vev dibilutttiphit ton.
currauce in opinion with Mr. W....hi5...re upou this
particular point. He referred 4s to the 'teenier io
which Bank notes are issued, resulting -from the
applications made for discounts to supply the ne-
cessary Want of Bank notes, by which their issue in
allionnt is so controlled that it ena never difitOnat to
an excess." Ile considers ." the amount of the'
Bank notes in circulation eta being controlled by the
otta,iotis 6f the public, for internal purposes," and
that " from the mintier in which the issue ut Bank
notes is controlled, the public will never call fur
more than is absulut4ly necessary for their wants."

Another Director of the Wank. Mr. Harman.
being asked. If he thought that the sum total of
discounis applied for, even though the accommo-
dation afforded should he on the seentity of good
hills to aide persons, might he such as to produce
1.0411 r races in the quantity of the Bank issues if
fully complied with? He masa ered, 1 think if
afr Miscount only for solid persons, and sub .paper
as is fur real Irmo fide transactions, we cannot
materially try." And he afterwards states, that
afloat he should consider as the test of a sit per.bund.
once would be, money bring more plintiful iu
the market."

It is material to observe, that both Mr. Whit-
more end Mr. Peeves Rtato, that `• the Bank does
not comply with the abide demand upon them for
discounts, and that they sire never induced, be a
view to their own profit, to wish their issues Ire.
youd what they deetu consistent with the public in-
terest."

Another very important part of the evidence of
theee Gentlemen upon this point, is contained in
the following extract:— •
" Is it your opinion that the same security would
mist against any excess in the Mines of the Bank,
sf the rate of the discount were reduced from I. to
41. per cent. !" Answer.—" The security of ■n
excess of issue would be, I conceive, precisely the
same." Mr. Peerse.—" I concur in that answer."

" If it were reduced to 31. per cent. r—Mr.
Whitmore, " I conceive there would be no diff.-
►enre if our practice remained the same as cow, of
not forcing a note into circulatioo." Mr. Pears—
" cancer ill that enswer."

Your Committee cannot help again calling the
attention of the House to the view which this Eel-
dance presents of the consequences which have re-
volted from the peculiar situation in which the Bank
of England was tamed by the suspension of Cash
payments. So long as the paper of the Bank was
convertible into specie :it the will of the holder. it
was emsagh, but for the safety of the Bark mid for
the public interest in whit regarded its circulating
medium, that the Directors attlided only to the
character and quality of the bills discounted, as
real ones, and payable at fixed mid short period..
They could not much exceed the proper hounds in
respect of the quantity and amount of bills discount-
ed, so as thereby to produce an esccsss of their
paper in circulation. without quickly finding that
the surlrins returned upon theniselres in demand for
specie. The private interest of the Bank to guard
lb. ioselves against a continued detains(' of that na-
ture. MIS a sufficient protection for the public ageism
any oneh enress of thank paper, as would occasion
n instetisl fsil• in the relative value of the circulat-
ing mr buns. The reste*tion of cash payments, es
has already been sheen, haring rendered the same
preventive policy no longer necersary to the Bank.
has removed that check upon its issues which was
the public security against as excess. When the
B Ink Directors were no longer eitpo•ed to the in.
cquiteisience of a drain 111111011 them for gold, they
naturally felt that they bad no such inconvenience
too giisrd against by a more restrained system of
discounts and advances: and it was very natural
for them to pursue as before (hut •ithant that sort
of Kissed and limitation which teatime( become no.
tierces try to their own 'trinity) the same liberal
sod passivist system of coinutereint R4'4111(111 from
watch the prosperity of their nen establishment had
ste-selte I, as well as in a greet degree the rummer-
Pal prosperity of the whelp country. It was !wh-
eel liar the Bank /rectors to believe, that noihing
low hesselit e sold accrue to the public at large.
e bile they s ra the growth of Bank profits go baud
in hand with the aceo timodations grant d to the
merchants. It was hardly to he expected of the
I h.tetor. of the Bank, that they shout I be fully
asis-a of the consequences that might result from
peter perecing, after the auspeurion of cash pay.
twssism. the same system which they had found a
safe sue lwfore. To watch the operation of money a
1 sw, and to provide against the injury which might
r stilt from it to the putahe inieresto, was the pro-
voter, not so ustseh of the Bank as of the Legis-
• lattice : &owls in the opinion of your Committee.
there ie season to regret that this House has not
inked ratty notice of all the consequences of that
law.

Ry far eic moat important of those conseqiienees
i., that while the convertibility into specie no iouger
e.i.ts ea 'a check to an over twee of paper, the
Bank Directors hare not perceived that the re-
moval of that check rendered it possible that suth
on exams might be Waited by the discount of per-
fectly good bias. So for from perceising this,your,
Committee have shewn that they maintain the con-
trary doctrine with the utmost coutidence. however
it miy be qualified occasional some of the it
expressions. That this doctrine is • very fallaciou.
one, your Committee cannot entertain a deth%
The fallacy, rpm which it is founded, lies in nut
i+iiiinguishing between an lidva.ice of ca.•i:al In
and an addetiol of sootily s•f c,ir: rote
the general maw of circulating If the
advance of capital only is considered, ■. made to
• who are retitle to employ it in ■n*
productive audertakings, it is evident there need be
so other limit to the total amount .f advances than
abet the means of the lender. and his prudence in
the oclectimi of borrower.. may impose. Wit, in
the present situation of the Book, intrusted as it
is with the functiop of supplyinz the public with
that paper currency which forma the Firms of our
emulation. cud at the same time not .uhj•cted to
the liability of ciinvertingthc paper into speci►. eve-
n advance which it makes of capital to die mer-
chants, in the shape of discount, 'becomes as addi-
tion also vs the mass of circulating medium. to the
fPiit in-donee, when the advance is made by notes
paid in discount of a bill, it is undoubtedly 110 much
eapital.so much power of ma k int! purchase., placed
ia the hands of the m►rchart who receives the
tones ; amid if those Lands ...e t..fe, !be Gioetatiol is

so far, etc) in this Its Gfs Ara. Useful and pro re-
tire to the public. But as soou as the portion of
circulating medium, in which the advance was
thus made, performs in the head* Of hits to whom
it was advanced this its first operation ms capital, as
Bobo us the antes areexchatiged by him for wine
other article which is norcapital,lhey fall into the
channel of circulation as so. much circulating me-
diate, and form an addition to the mass of cur.
ivory. The iteressary effect of every inch addition
to the moat, is to diminish the relative value of any
given portion of that arse iu exchange for commo-
dities. If the addition were made by notes conver-
tible into specie, this diminution of the relative va-
lue of any given portion of the whole mass would
speedily bring back upon the Bank, which issued
the notes, as much as ass excessive. But if by kw
they' are not so convertible, of coarse this excess
will not be brought back, but will remain in the
chenillel of circulation, until paid in again to the
Batik itself in discharge of the bills which were ori-
ginolly discounted. During the whole lime they
remain out. they perform all the fitnctions of circu-
lating %medium ; and before they come to he paid
in discharge of thaw bills, they have already been
followed by a new issue of notes in a similar opeta-
tion of discounting. Each surceasive advance re-
peats the seine prioress. If the a hole sum of dis-
counts continues outststanding at a given amount,
there will remain permenently out in circulation a
corresponding amount of paper ; and if the amount
of discounts as progressively increasing, the 'moults
of piper which retuaina out in circulation over and
above abet is otherwise wanted for the oceablous of
the public, will progressively increase also, and the
money prices of cominolties will progressively rise.
This progress may he as indefinite as the range of
speculatiou and adventure is a great commercial
country.
It is necessary to observe, that the law, which in
this country limits the rate of interest, and of course
the rate at which the Bank can legally discomet,
eNpobes the Bank to still more extensive demands
for commercial discounts. While the rate of com-
mercial profit is very considerably higher than five
per cent. as is has lately, been in many brooches of
our foirigu trade, there is in fact no limit to the de-
mands which merchants of perfectly good capital,
and of the most prudent spretwit 'ftetirprire. may '
be tempted to make upon the Rea fee *retort sae-
dation and facilities by disorient.. ;Nor can any
argument or illustration place in a more striking
point of view the extent to which such Oahe Rauk
Directors, as were examined before the Committee,
seem to have in theory embraced that doctrise
upon which your Comuottee have made these ob-
servation., as well as the practical consequences to
which that doctrine may lead in periods of a high
spirit of commercial adventure, than the opinion
which Mr. Whitmore mid Mr. Primo have deli-
vered ; that the mine complete security to the
public against any excess in the issues of the Batik,
troold vest if the rate of discount were redoced
from dive to four, or even to three per teat. From
the evidence, however, of. the kite Governor and
Deputy Governor of the Bata, it appears, that
though they stale the primcipletanuah, that there
can be no excess of their eircu;ation if issti,.l or.-
cordiug to the r rules of docooot, art i hey .tt,E1.,;,.
the idea of actiog up to it in its *hole c:oeitt ;
though they stated the applications' for the al. ..... t
of legitimate bills to he their so!ir criterion of abun-
dance or searcety, they gave your Cosonottee to
understand, that they do not discount to thc fall
extent of snchlipplications. lit other .sords, the
Directors& not art np te the iiihriple which they
represent as one perfectly sound end safe, and must
Ire considered, therefore. es possessing no di,tioct
end °troth' rule to guide their discretion to con-
trolling the amount of their circulation.
The suspension of cash payments has had the ef-
fect of comintifing iota the hands of the Directors
of the B tt.k of Englund, to he exercised by their
sole discretion, the imporiatit.chorge of swpptyinq
the country with that quantity of circulating me-
dium w hich is exactly itroportomed to the wants and
mg:winos of the pubic. to the judgment .of the
Crentmttee, that is a trust, which it is unreasona-
ble to oiliest that the Directors of the Bank of
Englant should er-r be sale to discharge. The
most detailed k no. le bp: of the actual trade of the
country, combined with profound science in all
the principles of money and circulation, would not
erudite any men or set of mew to ddjust, and keep
always adjusted, the right proportion of circulatiog
isWdmro in a country to the wants of trade. When
the currency consists entirety of the precious me-
tals, or of paper convertible at will iuto tl.e per.
china metals, the natural process of commerce, by
establishing exchanges among all the different
emintries of the world, adjust , in every particular
Cottorri, the proportion of circulating mcdtuut to
its actual occasion., according to that supply of the
tin-chins metals which the mines furnish to the ge-
neral market of the world. The proportion which
rs tines adjusted and maintained by the natural
operation of commerce, cannot be stijitsted by any
human wisdom or skill. If the natural eastern of
currency sod circulation be abandoned, and a dia.
cretisteery issue of peeper money substituted to its
stead, it is vain to think that may rules can be de-
vised for the exact ex-rcise of such a discretion
though some cautions may be pointed out to check
aid control its consegnences, such as are incit-
e teed by the effect of an excessive issue upon es.
disoues and the ;wire of gold. The Directors of
the Bank of England, in the jsedginent of your
C., innittec, hii.e exercisal the new and extranr-
dm Iry discreti repn.eil iii them vine': 1707, with
as iricgrity and a regard to the public inn-lest, ac-
cordttig to their conceptions of it, anal hotrod a de-
gretof forbearance in turning it less to the proiit
of the Bank then it wou:d easily hair edinitted of,
that merit the continuance of that cui.tidroce which
the priblir• hea so long end so justly L It in the in-
tegrity with abich i s ;Unita :Ire direcied, as well us
in the unshaken bual•ility and ample rands of that
ore it establishment. That tin recto policy in-
soles's great preetwal errors, which it Is of the it,-
tn sot public importance to correct, your Comm.t•
tee are fully convinced; but those errors are less to
be imputed to the Bank Directors. than to hest :led
as the effect of a new sy,trio. of aural,ltoneier it
otigumted, or Wei, rendered taint ...m.l as a tt moo.
iary esio.rlient, it might hoer Feet well if Path,-
inn lit had M.O. at r IlliU stew sll the cons• -
rosetire.. When )afar C•miniittee ca.:.•ider that
'116.1 Jemet.m...%. j, nor ..1 rita.p:y le.g tin; kind-

el*to milt cir, elating osediteiMi be 6 eterbisei
udder an opiates .that the paper could not be
issued to excess if advitsced iu iAticounts to mer-
chants as good bills payable at atated periods; :mil
likewise under an opinion that neither the price of
bullion, not the course of exchanges, need be ad-
verted to, 119 rifordnig any indication with respect
to the sufficiency or excess of such paper ; your
Committee cannot hesitate to say, that these opi-
nions of the Batik must be regarded as in a great
measure the operative cause of the continuance of
the present stste of things.
Your Committee will now proceed to state, from
the information which has been laid before them,
what appears to have been the progressive increase,
and to be the present moonlit of the paper circula-
tion of this country, consisting primarily of the
notes of the Batik of England uut at present con-
vertible into specie; and, in a secondary manner,
of the notes of the Country Bankers which are con-
vertible, at the option of the holder, into Batik of
England paper. After having stated the amount
of Batik of England paper, tour Conimiitee wi:l
explain the reasons which induce them to think that
the nuniercirl amount of that paper is not alone to
be considered as decisive of the question as to its
excess: and hrfure stating the amount of Country
Bank paper, so far as that can he ascertained, %our
Committee will explain their reasons for thinking,
that the amount of the Country Kink cireolatiou
is limited by the amount of that of the Bank of
England.
I. It appears from the accounts laid before the
Comeuitteeupon the Bank affairs in 1797, that fur
several years previous to the year 179si, the average
*meant of Rink notes in circulation was between
40,000,000. anal 11,000,0001. hardly ever falling
below 9,000,0001. end not often exceeding to any
grr4t amount 11,000,0001.
The fullooing ahatract of the I acconnts re-
ferred to fur' Committee, or ordered by dour
Committee from the Bank, silll shew the prot:re,-
sive increase of the notes from the year 17ou to the
end of the last year.

Average amonnt of Rank of England Notes in
circulation in each of the fallowing y rani:—
Nun s et :11. oust
upis arta. its
eluding Bank
Poet Bill..
1792....1 1. 11,337,•2.1•1 1-13,334,753
:799 • • • • 1J,5u2,r.24 14;61, 47
11100.... 13,198,18;0 11,831,032
1801.... l 13,134,307 16, ttinou4
1500.... 13.617,977 17,831,451
1507.... 11,08:4477 10,2 17,519
1801.... 13,011,310 17,314,080
111113.... 11.607,3i8 17,141,933
14,814,170 ' 17,1330,1 u
1807.... 1.1,331,958 4,18.".,013 17,403,501
1•.4.... I 13,404.160 4,131,190 17,534,54 n
1400.... 14.133013 4,9614475 19,16400
Taking from the accounts the last half of the
rear Ittu9, the average will be found higher than
for the whole year, and amounts to 1,9,860 310.

Nuts under LI

L1,8r1,1U2
4,644.20,.1
20143,466
4,715,161
3,136077
3,864,114 S
4,743,674
4,:;44,5104
4,241,14 U

TolaL

The aceissats in the Appendix give vet, detailed
returns for the tint four mouths of the present
year, down to the 12th May. from %Mich •it
formal that the amount was then increasing. parti-
cularly in the smeller notes. The shot, amount of
flank mites i.n circulation. exclusive of Ym1,9001,. of
Bank-no-4 hills. will ka found ou the surveile of the
two returns for the sth and lith May last, to be
found ou the average of the two retains for the sth
and 12th May last, to he 14,136,6101. in notes of
31. and upwards. and 6,173,3901. in notes under 51.
making the sum of 20,309 9.01. and. including the
Sauk post bills, the sum of 1114-1!1,980.1.

[To be ctroiirtaed )

STATE Oh !WIMPS.

Nu VI.
[Cuacluded

In regarding the aspect of u:Tit:rs in France,
'acting our usn country, the chii f, and. indeide
almost the sole metiers hich is presented for femur
coosideration, is the question of Peace or War.—
Its England there has loog Oren two parties, hold-
ing diametrically opposite opinions on this import-
ant subject—the one affirming, that it is impossible
to obtain • secure peace, while the power of Bona-
parte is of so overwhelming • nature as at present—
and the other tiaintaining, that it is in vain to
contend any longer, sod that a period ought to be
put to war, for the sake of our commerce aid ii.-
ternal tnanufactiares. It is not necessary to say any
thing on • topic which has bei II .o voluminously
and laboriously discussal on both ; and the
only new point of view left for us is that a hith has
been very strangely left out of the consideration of
all parties, viz. IVhat would he the condition of the
Bonaparte d)nasty, were the Government tf
Uii-
taln to accede to a peace, and put it out of the
power of her enemy to au,ert way longer that she
alone stood between the world and happiness, the
advocate for interminable ear'
Were each an event as a general paciaciatioe to
take place, it would prove more dangerous to the
Usurper thou 'seri the most serious reverses in any
war he was prosecuting. For • short period, indeed.
the splendoer olio great and desirable an act might
dazzle the world, and with its brilliancy shed se-
cut it r round his head. But the novelty would soon
subside ; ■nd its the minds of men became nunetu-
pled with the chances and •peculation in which
more busy time• had engaged them, reflections
most bound to • person in the situation of Nat a-
leoo are sure to succeed. People, who have keen
611 away by the rapidity and splendour of his pro-
gress, would then enjoy more calmness, and, with

; their tett.e4 disengaged from the wonders of his
4, rise, every comparison that would be erode would

Ire ,hos,lvantngeous to the L'i,sturt.

This mental

state of the world (if we may use the figure), being
further aided by the injury of the uew order of
things, and by the moral feelin,:s which the late open
atrocities of Bloaparte in Spliu and Holland have
exc'teil. would contribute iu no small deg►ee to
alt.ke the stability of his throne. Hut the greatest
danger of all he would have to encounter. would be
L!a oats sJlilitry,..n2tri peewit had given to idle.

Sista Vets. Ind 5i10.% Aid 4iumphs, r ,111 144
tibfy them for a titre; but tilie rretless I:0,11
by a military life. its enemies' countries.
engaged frrita any pursuit, is of all othrta the
4,44
to be dreaded in • Government founded e.i
tary strength. floAnute..itilist.be.tutare of
ands in our opinion, is as bristly determuied on ft.,'
lasting war, to avoid the peril. Lib thr int„t
etas advocate in this country is fur that sy.ktb.
From ull onr premises, vie would reupitaish
the folios ing conclusions

That the Princes of the Confedersiein unt
Rhone, not having any further adsaittse. to 0444,
'ives in view, are not better affected to
than 'compelled to be by his superior {rimer,
'Elfin Spain is, tutl must be, decide,ny
him ; And tfiat even its ultimate connusu
scl
yisld fur years only a barren acquisiCon,
, 'That the spirit of resistance is strong it,
and that the minds of all men ore spirm
Usurper. This lost is the most immintut
to him; as, notwithstanding political
aoel fear of his power may fur u period Lel,
Sovereigns of countries is sullveuois ; rrt I
streugth of the people, actuoted by these prim p.,
will ultimately be turned mote torr.o.y to 1.1,
titruction.

That Russia, however seemingly frierully
designs, is jealous and shinned at nis Mena.,
power.

But the greatest phyeical danger of ell cerili.,!T
results from that which appears his ma,
safety ; °wkly, his brier;; the al jest of terror. Cr
this prinviple, it is must difficult to ntai..tai% h„,,•
ever serviceable it is to attain. activioivii • 4tarkllPl
Or luve eanuot co.exiot with it ; asd the %mar t 1.4..
rite means must be cootiomd to prewrir,
hare. been wed to svpiire, authority.
Upon these short grounds it is total itt.t 6,4
Priweely coMbinations) that we venture to c.tzt
look of hope through the rlatB horizon oi Ems.
1)111111 Polities, and entertain as tappe•alas
though not immediate, the day of retnbatios
far di.tant.

Foarth Nigl4 el Hie New Grand Muck-lieron. lientGan
Railet.

crertr.v THEATRE --MMUS" OPEN!.
?IBS EV ENING, FRIDAY, Attrat 17, m
perfumed (111,4 Dose. a kelt Comic Opt; oil
TRICKS L'PA?i TRAVELLERS.
After whieb (rut the fit time) a New Origami lidk
tierio•Catioic Rano of ;kraus, raged
JACK THE GIANT-KILLER.
With ticketed Mimic, new Scenes, Dresses, end Hermitic,.
(The Balkt coder the direction of Mr. Broiling
Tu-tourrow, the Comic Opera of EA, Alarms, tacYi
Mr. Bratitiu will prr;litot the part of &lett, (beer
sight of his ralpctiatut) sod is which character be wiSti.
trudure Itir lia of " My Ilemt with IA .if hratiag,",ir
duet of " Vire r Rut!' with llies hull,; rod ilfreceidand
soot of " The Lail Worth of Maranon. '

floe Conde Opera of The Anuntx4 'lrArer, in witie. Ur.
bralrmo performed the part of lord koint leo
received List night with rapt omit* applau !e: orniAnt;
modicum, will he repented oa Nondov next.
A New Melo-Dramatic Opera, or dome nets, is its Auld,

TB E BRITISH PRESS.

-~-

LON DON,
FRIDAY, Aoeurr 17•

By a vessel which arrived on Wednesday fia
France, inudligence has been received ~f
penance th the Commercial World, iu the

' IMPLRIAL DECREE.
" neroLtox, &C.

" A flier having attended to the Report of oar Ceer.-1
the Adoriuiattatiou of Fittattere, (erotica ou the plea ro
tett); stud oho to etc Report of our Mmister of the ludo;
we have deemed, and de decree ao

" The Ditties on Wares and blerchandine Itendle
named, nee determined to be according to the sabre mn
rates ; that a to any—.
S( Deana, Cayenne, Surinam, Demerara,
nod throve, ...
- 411