The British Press; or, Morning Literary Advertiser.
London, England, 1826-01-12 00:00:00

THE BRITISH PRESS.

rail( :s liv ititirisii
Bank Stnel 222 2191
War A rct.
1 per I cot. Red. 8l 1
S pN Cult MI/
Ditto ,Nt.B'24 811lrt 82
SA per tint. Yfti
9i per Colt. Red. WI I

VC ICES iIF rOItEIGN
Staelion Scrip
Ditto *cot. lb Ws.
Chilian Booth
Ditto Acct. GO
Dolotribiao Bonds
Ditto Bunds (1U21) 8.54 i ! 5
4144
Dittocct. 5 41
Ditaish Bonds 62 a 1
Ditto A oct.
Mexießn Bowl*
Ditto Bonds ( 1C25) G 9 tie

MOCKS VESTNI(I).4 y.
• Pftw 4 per Cert. NNIO 98i
Long Ann. 201 6.16
South Sca Old Annuities 611
6:i, M 11.1,00111. 8 2 4 pm
Dim. 11101.8 4pm
Dino, Small 67 pm
Lottery Ticbte 191. 184.

sTUCK. ViidiT Ell DA 1 .
11,•1ican 14'nds (1W2.%) Acct. 70
Peruvian I rinds i 8i a i t
43 8 at 84 '
Ditto Acct. 441
Portuguese hoods 73
Prussian funds
Ditto Bonds (1M) In 1
Russian Bonds 04 31 24 lj 1
I
Ditto Acet.l3 24 3
Spanish Bonds 13 Id 131
Ditto Acct. 144 13
Ditto Bonds (1313) IQ 1.11

PRICES OF SHARES VESTERDA 1 .
al l X Es.
Shore. Pam. rremlnas per Siam
An to Chilian
Bolanna 4OO 21 40 LS
Ovalllian
Haytien
Hibernian 6O 4 3 di*
Ds►eo.Pernvran
Potosi LI Paz A. Peruvian Au SO 9 ;dig
United 31 axles°
Ditto New 4O 10 910 9

ASSURANCS CCSIPANIES.
klitanee British and Foreign._ 1410 10 11
OAB MOUT AND COKE COMPANIIS.
United General 6O 13 et 641 die

34111CCI.I.ANEOI'll•
British Iron lOO 26 71 5 dis
British Rock and Patent Salt 10 0 1
l'Anada lOO 10 1 111 1G
French Brandy Distillery Co be 9 051
General Steam Navigation lOO 6
Mexican
Vigo Bay —

tilt 313ritisit

DRURY- LA NE 7111...,47:11P.

This loaning. R
O pera SIVA Y. Jan
of ni 12, will be perfored the
ROB ROY MACORKOOR.
Rob fl Mr. V. snack : Francis Osbaldistune. Mr. Metals; Bann*
N1e..1 Jar. le, Mr. Liston. Mum Veroun, Midll basphana i Melon
hiaegregor. airs. 6111111.
' •

- -
To conclude with the Pantomime of
HA 11LI,141JIN, JACK OF ALI. tit ADES.
Ilar:oviln. Mr. !lowed; Puntaloon, Mr. T. Hienchard; Clowe,
T. Brown; Columbine, Miss Harnett.

To-morrow, Der Ireleehutt ; The Camp; and the Pantomime.

COVENT-GARDEN THEATRR.
Tiela levelling. THURSDAY. Jan. IL will be performed the
Comedy of

A 1101.1) STiliiie-E.FMR A
Colonel Pennine, Mr. C. Kenibte; Perrawinkle, Mr. W. Fames;
Obadiah Prim, MI. Fail reit: Freeman. Mr. Cooper; Pure,
Mr. Meadows. Ann Lovely, ellee Chester.

To conclude with the Pantomime et
HARLEQUIN AND THE MAUICK ROSS;
Or, HEW I V AND THE DEAS r.
FlArtequln. Dir. Eller; Pantaltom, Idr. Barnes; Clown, Kr. J. I.
tlrimaldl; Columbine, Was Homer.
To-morrow, The Tempest ; and the Pautomlme.

The BRITISH Pates commenced publishing petty:l4l mom
ing st five o'clock.

LONDON, THURSDAY, JANUAAT 14, 11120.

Last night at a late hour we received the Etoile dated
Tuesday, with the other Paris Papers of Monday. They
state that on the 2ith ult. the Grand Duke Steno Las
read in the Senate his brother's formal renunciation of the
Crown, and declared his own acceptance of it. This is
all the information we yet possess of the mode in which
the succession has passed away from the Grand Duke
CONSTANTINE. From the Paris Papers of Sunday,
which arrived in the course of yesterday, we have in
another column made some interesting extracts relative
to this subject. The Quotidienne alleges that the Emperor
ALEXANDER, during his last momenta, wrote to CONSTAN.
TINL for thepurpose of releasing him from the act of renun-
ciation he hail executed on his marriage to the Princess
Loswicz. Thia story, however, appears to us wholly in-
credible. A fuller and apparently more authentic account
of the recent transactions connected with the succession to
the Russian throne is furnished by the Journal dm abaft.
That article seems worthy of attention.
The French Funds continue to rise. The assurance of
peace, resulting from the accession of the E►nperor
NICHOLAS, will probably induce a further advance in the
public securities of Europe.

[Fram the Etoik of Tuesday.l

worn ?"

Letters from Carlsruhe announce that on 25th the Grand Duke
Nicholas read in the Senate the formal renunciation of the crown
by his brother, and declared that he accepted the throne. He was
immediately proclaimed Emperor of Russia.
Letters from Marseilles of the 3d announce that the Marshal
Duke of Albufera died on that day, between four and five in the
afternoon, of the long and painful disorder with which he has been
afflicted nearly two years. lu the few moments during the last
four days in which he was sensible, he made his will in full posses-
sion of his faculties ; and on the 2d, again recovering his faculties,
after nine in the evening, confessed, anti received extreme unction ;
the remaider of the night he was calm and composed. After
seven in the morning he did not again become sensible. The
Duehess of Albufera, who is deeply affected, will set out fur Paris,
with her children, in two or three days.
FRENCH Ft:sm.—Pam, JAN. 9.—Five per f'arts. 911 f. 85e. ;
Three pa Cents. 113 f. 60c. ; Rank Stock sf. ; Rtnte de
Naples 78f. 40c.; Royal Spanish Loan 49if.; Hayden Loan 8001.
Exchange on London, one month, 25f. lk.; three months 24f. 90c.
—Cosr: A tilltaitioNe.

The mystery in which the affairs of Russia are involved
becomes every day deeper and more impenetrable. It is
beyond doubt that the Grand Duke NICHOLAS has been
proclaimed Emperor in consequence of the formal renuncia-
tion of CONSTANTINE ; but we know not how this change
has been effected. The known character of CONSTANTINE
prevents us from believing for a moment that the act was
on his part purely voluntary. Some powerful influence
has been exerted over him which he had not fortitude to
resist, and it was well perhaps for the peace of Europe that
he yielded. But it appears from the news received yester-
day that it is not yet quite certain who will reign over the
Russian empire. The accounts to which we refer state
that, on the proclamation of the Emperor NICHOLAS, the
regiment of CONSTANTINE stationed at St. retershurgh
openly declared their determination not to conform '
to any political arrangement to the prejudice of the oath
they had taken to the Emperor CONST•NTIN v.. and that
when they were required to take the oath of allegiance to
NICHOLAS they mutinied. The necessity of suppressing
with prompt severity any disposition to revolt, under cir-
cumstances of so.peculiar a nature, rendered it imperative
to resort to immediate coercion. The other troops who in
the capital remained faithful to the new Emperor were
marched against the refractory regiment, acd it was not
till much blood bad been shed that the mutineers were re-
duced to subordination. Afterwards, it is stated, several
of the ringleaders were tried by Courts-martial and put to
death. This is the substance of the intelligence received
yesterday from St. Petersburgh, and we have reason to
believe that it is correct in all the material facts. If it is
so, what a view does it open of the present condition
and future prospects of the Russian Empire ! The
revolt, of CONSTANTINE'S regiment was evidently an
attempt to seize the Government for him ; an attempt
which would not have been niab, unless the ringleaders
had thought that success would be acceptable to the hull-
vidualfor whom it was to be achieved. We would plat:

tenfold as much reliance on the opinion thus manifested
of CONSTANTINE'S disposition, as ou the information
we could gather from the public acts, which he might
by intrigue and artifee be itiduceel to perform. In
this state of things many questions naturally suggest
themselves. What part will the army in Poland take
when they learn the military execution done upon their
comrades? If CONSTANTINE'S popularity with the sol-
di:4.y was sufficient to excite a mutiny at St. Peters-
burgh, what effect will it not produce ou the spot where
he is present in person ? La it be recollected too
that his position is entirely changed. Ile must feel that he
cannot now exist in safety as the su'ijeot of his jealous and
' irritated brother, and he will know that the feeling of the
military is decidedly in his favour. As in the dajs of the
Roman empire, when the military in every province assumed
the right of electing the Emperor, we shall probably
hear by the next arrival that the army in Poland has
saluted CONSTANTINE with the imperial dignity. The
army of the Truth will be the arbiters of this dispute, and
it is not difficult to foresee that they will rive their suffrages
to the Emperor who accords most in habit and sentiment
with themselves.

A Morning Paper, remarkable for its puerile and proving
articks, asks the following questions, by way of proving
that there ought to be no such establishments permitted as
Country Banks:—
" Does not accommodation on the part of the country
bankets often cause the farmer to trust millers and bakers

with wheat when they ought not to part with their wheat
but for money ? Also the shopkeeper, while his credit
with the banker remains good, is it not an inducement for

him to sell his goods on credit, instead of selling them for
money ? And, in both instances, is this not a false sys-
tem? And is not such a system detrimental to the com-

munity, by enabling the latter to eat and to wear things on
credit, which ought to be paid for beibrc they arc eaten and

There is so much of glaring absurdity involved in these

questions, that merely to quote them makes all reply su-
perfluous. When an acute reasoner has recourse to fallacy,
it is worth while to detect it; but when, as in the instance

before us, a writer displays such sheer ignorance of his
subject, lie may be very safely left without an answer.
" It is a question," he proceeds to say, " whether discount-
ing by country bankers, or even by the BANE of ENG LA ND,
be productive of harm or good." Where, may we be per-
mitted to ask, was this ever a question, and when ?
A merchant has an opportunity, by means of discounting a
Bill of Exchange which has some months to run, of con-
verting it into money, at any period within that time that
the convenience of his business may n quire. Whether
this is an accommodation or not in a commercial country,
or, whether it dors good or harm, is a question that nothing
but the simplicity of a Loo-Choo Islander could justify.
But this profound political economist proceeds to demon-
strate it to be productive of evil, and he does this so con-
clusively, and with such classic eloquence, that we ought
not in justice to withold it from the reader.
" In the country it often effects great harm, by enabling
a farmer to keep back his sturwhen he ought to sell it,
and it makes him lazy in Me production of more; and
among shopkeepers, we believe, a great deal of ruin is ef-
fected, inasmuch as it enables them to lay in greater stocks
of goods than their trade requires; and then, in order to
effect sales, they trust people vrho afterwards either run
away out from the country, or who take the advantage of

the Insolvent Debtors' Act—resetve as much as they could
—go to another part of the country—play over the same
pine again, and again get whitewashed. Also in the case of

- -
ie BAxe or ENGLAND, we have known, numbers of

instances where discounting hu been the cause for over-
trading both at home and abroad, and ruin in the long-run."
After this convincing illustration of the evils of discount-

ing, it is reasonable to hope that all that source of accom-
modation in the commercial world will be in future neither
required nor granted, and that the Bank of England will
never again be the means of debtors running away out of
the country, and going to another part of it. We cannot
too soon get rid of a system that draws such consequences
PARIS, .7 AN. 9. r after it.

On the subject of public credit, the opinions of this sage
Journalist are equally original, and his remarks equally
pregnant with wisdom.
" There is a great outcry made respecting the keeping
up the credit of the country; but our opinion is, that there
is too much credit, and so much credit is productive of bad
results. It would be a good thing if there were less credit ;
it would be beneficial if neither MEAT, URINE, GOP CLOTH-
ING could be had, except the money were given previously.
It would put a stop to the improvidence of individuals."
To put a step to the improvidence of individuals, is, no
doubt, a most desirable result; but we fear that a very long
period must elapse before any such effect can be produced
even by this most admirable mode. In the mean time we
fear that if the working classes, who receive their wages
weekly, .811:.11 have neither meat, drink, nor clothing, till
they have preciously mid fir it, they may chance to be
starved while the improvidence of individuals is undergoing
all this remedial discipline. We therefore feel inclined to
advocate the usual system of indulgence, and to let
humanity go en in her old-fashioned course.
But this writer is not only a great political economist,
as we have seen, but a reformer of our legislation. It
seems he has oflen expressed a ti-ish with regard to the
law of arrest, which by some unaccountable fatality or
other none of our great Lawyers or Statesmen have
hitherto shown any inclination to act upon. The public
cannot but be surprised at their indocility in this respect,
when they consider the wisdom as well as the practica-
bility of the suggestion. It is a sample of the curious
in its way, and we shall therefore contribute to give it
publicity. •
" We have Olen expressed a wish that the law of arrest
' were dune away trills ; for that law induces much of the
credit that we see bakers, butchers, and others, give peo-
ple. And merely on the strength that if they fail to pay
them at a certain period, they can bring them to book.
The butchers, bakers, and so forth, would scarcely trust
at all if it were not for this false security. If this law
were done away with, the state of fictitious living to which
we have alluded would also be done away with, and people
would be compelled to live more within bounds. There
would be then more of industry and less of extravagance.
This law of arrest does no good to any but the lawyers and
sheriffs' officers ; and to knock up much of' the horrid trade
of the latter would do good. We admit that the law of
arrest has almost virtually been done away with by means of
its now being in the power of any man to commit an act of
bankruptcy, and go into the Gazette, or go to prison for
three months, and in either ease get released from his cre-
ditors. • We would wish that Mr. Past., or M. liens,
would bring forward the subject in the ensuing Session ;
and if they did nothing else in the matter, we would
recommend them to bring in a Bill to Air fee—that
no man should be Amsted but by the eIIiDITOS
s If OW trete the law, many a Walser would

pause before he tote frOm a wife and half-a-dozen
children the husband on whose exertions the wife and
children depended. Now a butcher will give orders to
en attorney, with all the cold-bloodedness in the u 41(1, to
arrest Mr. So-and-So, whom he has foolishly trusted.
The attorney gives the suit to a sheriff's officer, who tears
a man from his wife and children, while they arc crying
and clingiug round him. In nine cases out of ten, the
butcher who had brought his victim to this pass by impro-
vidently letting him get into his debt, would go away
without doing his office, if he himself were obliged to serve
the process."

Equally wise and considerate would it be to bring in a
Bill to prohibit any man from eating mutton that did not
kill the sheep, fur the chance is, that the ewes and wethers,
instead of having their throats cut, would bleat and frisk
in the pasture to the end of their days. Equally judicious
and humane would it be to bring in a Bill to prevent any
man from prosecuting a felon to conviction unless he were
obliged to hang him after the sentence. There is, indeed,
no end of the extent to which this principle pf utility might
be carried. It might possibly puzzle a creditor sometimes,
when obliged to serve the process himse,T, to contrive—
when he had many debtors against whom he had occasion
to proceed—to apprehend one upon a bill of Middlesex, in
London, and another upon a Mild in Liverpool, to say
nothing of executing his /Ails in York, and his plur ies in
Berwick-upon-Tweed. But enough—the scheme is so so.
pient, that we refrain from throwing any further sugges-
tions in the teeth of it.

CITY, WEDNESDAY EVENING.

The vicinity of the Stock Exchanges was more than
usually prolific in reports this morning, making all due al-
lowance for the near approach of the settling day, at which
period great activity is always manifested by the news-
mongers. The most prominent of these reports was, that
the guards of CONSTANTINE, at St. Petersburg'', had
refused to take the oath of allegiance to his brother
NICHOLAS, and that in const-quence of that refusal
a conflict had taken place between these guards and
the other troops, in which two General officers were
killed. According to another rumour, M. DE
Lets was sent out of 'the Cabinet of the Tuileries, and
even the Ministers of GEOP.'3E IV. were dismissed by some
of these veracious seers of future events. The rumour of
the resignation of the King of SwEnt x, which we noticed
yesterday, was again revived, and in short, every idle report
that could be brought to bear, even for a few minutes,
on public credulity, was eagerly impressed into the s:rv:ee
of the speculators for the fall. We are disposed, however,
rather to attribute the continuation of the depression of yes-
terday to a heavy account than to any other circumstance,
or rather to the apprehension of it ; for although the scar-
city of Money Stock tends to show that such will not really be
the case at the settlement, yet the diminution of purchases
by the Commissioners has lcd extensively to that opinion.
Consols opened at 821 being a decline of I per cent. upon
the quotation of yesterday at one period of the day ; but
they soon fell to 8441, and afterwards to 82, sellers. From
that price they returned to ff. They closed finally at 82,
sellea, for the account next Thursday, and at 81f, sellers,
for the account in February. As a proof of the scarcity of
Stock, the money price is a shade higher than that for
time, and the bargains for the February account were done
at only I higher than fur this settlement. Reduced Stock
was 814, and 34 per Cents. 90. Exchequer Bills and In-
dia Bonds were nearly at the seine price as on the pre-
ceding day. _ .

The principal business in the Foreign Market was in
Russian Stock, which declined in the course of the morning
from 85 to 82. The other Securities in this market varied
in a very trifling degree from yesterday. Colombian Bonds
63 641; Mexican 6 per Cents. 680 70 ; and Spanish Bonds,
which were a few days since 11, are now 131 14.
But little business was doing in Shares.
Money was so plentiful that it could be procured on the
Stock Exchanges at 2 per cent.
In the Colonial Market there was not much variation in
the prices of Sugar and Coffee, although the demand was
not quite so active as it was last week ; but from the quo-
tation continuing firm we should attribute the trifling de-
' crease in the demand to mere casual causes; for had it
been otherwise the price would necessarily have failed.
Rum continues to be much sought after.

By reason of the supplies of Grain being scanty this
morning the prices rather advanced.

Extract of a letter, dated Madrid, Dec. 29 :—" Our
Government feels deeply the loss it has suffered by the
death of the Emperor Alexander, whom it justly regarded
as its most firm supporter. The Court is in a state of con-
sternation, and the uncertainty which exists as to the per-
son of Alexander's successor greatly increases the diffi-
culty anti embarrassment of our position. The Cabinet
has but little confidence in the knowledge and ability of
M. Paez de la Cardena, our Ambassador at St. Peters-
burgh. It is feared that he has neither address nor pru-
dence sufficient to conduct himself with propriety as to the
two Princes who appear to have.pretensions to the throne.
In this perplexity, it has been resolved to have recourse to
the services of M. Zea Bermudez, who knows the country,
and has given proofs of his !talent in diplomacy. A cou-
rier has therefore been despatched after him, with orders
that he should proceed to Russia with all possible speed,
instead of going to Saxony. Much reliance is placed upon
his ability to create afresh in the North that friendship
for the Spanish Government which there is reason to appre-
hend may be otherwise extinguished by the events that
will take place there. Another courier Was been despatched
to M. de la Cadena, to surrender his functions to M. de
Bermudez immediately on his arrival."
The last letters received from the Havannah, from the
most respectable sources, mention that the inhabitants of
that port were hourly expecting to be blockaded by the
Mexicans.

A private letter from Lis:ton announces the death of the
Patriarch, and states that a friar had been named by the
King in his stead, to the very great annoyance of the secu-
lar clergy, particularly of that part in wore immediate con-
tact with the See of Rome.

We understand that a new Association has been formed
for working mines in Colombia, under an exclusive grant
from the Supreme Government, embracing the whole of
the province of Carthagena, known as one of the richest
mineral districts of that Repubiic.
Mr. Colbeek,. an eminent surgeon at Hertford, was
dreadfully bruised on Sunday, the Ist inst. by one of the
coaches running against his gig, which was clashed to
pieces, and Mr. Corbeck and his servant thrown out.—
Essex Herald.

ANTIQUITIE3.—A Roman nrn, hi a high state of pre-
servation, was lately found in a stone coffin near the an-'
dent Roman military road that runs through the county of
Northumberland, about 10 or 12 wiles to the southward of
Berwick.
SIWALLOW•STRENT CRAPICL.—A meeting took place on
Tuesday night, of a considerable number of members andl
seetliolders, who are dissatisfied with the proceedings in
calling a Minister to the above Chapel, when it was unani-
mously resolved to lay their grievances before the Scottish
Presbytery in London. Reasons of protest against the
call were drawn up for signature by the members, and
a petitiou was framed for the seatbolders, who claim
equally with members the right of voting in the election
f the Minister. •