The British Press; or, Morning Literary Advertiser.
London, England, 1819-02-08 00:00:00

CONCLUSION .

There never walla period when such an Institution
was sil called for, nor when there was so
favourable au opportunity for carrying it into
ettert. It. fart, unless some great measure be
to:deft:lke'', to furnish the unemployed poor
with a nieaos of subsistence, by their awn labour,
the other cla,ses of the community will not long
hr. able to maintain them, and some fatal con-
voisson must be the necessary consequence ; where-
as, if tilio4 plitil were nn example of
-ucce.-101 improvement would tsv cxhiliited, which
wnsaisi mum be iniouicsi its evert/ other part of the
kitsgilani, and it would probably spread with a
rapidity, of which there Is no r%lllllple in history.
Its assoc. .s,,boviever, deprsals on the tiktirat
large Capital ; for, in many cases, If
only 5/. pit arse is expended, the iiilollCy may he
lost, wheiemv, by laying out 15/. per acre, the whole
expense may be repaid in the course of one year.
On the a hole, there is every re.isnis to hope, if
no other advantage were to resit It films the premis-
ed plan, tl.is object, at least, might be obtained,

Ar• grower

.

LONDON,
MONDAY, Fusin:Arty a, IRO.

hmeilt to state ll•et, durio?„ the last sestet(
rest superable pressure war t• pet Ir. red to the
City, only in the inot.ey Ili II kit, but gen.nally
throughout the various brariches of commetc-.
This is attributed to the anxiety which is said 10
have been felt respectiog the possibilay of the
Batik of England being; comp-Bed in resume cash
payments at the period now prescribed by law,
But 'iota alotaudirig the corricideirce of ill s mo-
mentary depression with the agitation in Parria-
meta of that most important question, we cannot
ocksiowledge the justice of the supposition. In the
first place, we do nut believe that any such arixiety
has betel felt, because every one is well assured,
from the constitution of the Committees No •rinted
Parliament to investigate the state of our gerterid
currency. that the Reports iu b.ll Houses will
advise the continuance of the I:airk restriction;
and who can believe that this recommendation, will
not be adopted by the Legislature ? In tie second
place, however, we think, without referring to this
circumstance, there is sufliciem cause for the tem-
porary pressure that we lament. The corunnunrca-
tiou made on Thursday last, out the Stock Ex-
change, by Mr. 111 AS e, that no farther Clitt-11.11111 of
time would be grouted by the Bank to the holders
of Orunium, together with the near approrich of the
time for paying the last instalment on the loan,
amounting to ,20 per cent. would naturally exercise
a very considerable influence on the state of the
money market, with which every fibre of commerce
must of necessity evince a ready sympathy. With
this circumstance before us, we need not suppose
the existence of apprehensions which have no from.
dation in reality. On Saturday one defaulter was
declared on the Stock Exchange, and a longsesta.
blished French house stopped payment to a very
great amount. These are the calamities that
from time to time, be felt in every country obese
there is no fixed standard of value, and where the
circulating; medium can be enlarged or diminished
et the will of a certain number of individuals, who
have no princride to direct or control but feeliirgs of
self-interest. We desire, however, to be understood
as by no means alluding exclusively to the Bank
of England. Of the Directors or that establish-
ment we can have no reason to speak but in terms
of the highest respect, and we feel confident that
if the currency of the country were altogether in
their discretion we should not have to complain of
the frequent and ruinous variations in the valise of
property that occasionally take place. But it is
the mischief of a paper currency that is unchecked
by a ready convertibility into gold and silver, that
those who have, the apparent management of it
cannot always be aware of the exact depth of
the cliamiti of circulation, or when it Is at
that happy state of fuloess which affords a per-
fect facility to the transfer of property without
affecting its relative valise. On Brie delicate point
a convertibility of paper into metals affords unerring
proof. If, indeed, the issue of paper were confined
to the Bank of England, it is possible, from the
great experience of that body, this point might he
itscertrimed with tolerable precraioir ; bust the Bank
is eternally counteracted by the issues of the lesser
banks throughout the country, so that let the Batik
of Erigland diminish its issues ever so enrich. the
channel it leaves dry will be soon overflowed by the
increased streams from the country books. The
present apparent high price of gold is caused solely
by Bus excessive issue of paper throughout the
country, and it is nothing snore than a delusion to
assert that bullion loss risen in price by the demand
in foreign markets, while our currency retains its
original and proper value. If our currency were not
depreciated, gold and salver would at present bring
a higher price in the London market than on any
part of the Continent, and consequently the precious
metals. instead of eluding our grasp, would be
flowing to us in a constant mid rapid stream.
Many people, however, now begin to ask. what
is the use of ever returning to a cash currency.
or why we should hazard any risk by alter-
ing the circulating medium ? To such persons
we should answer only by pointing out the
constant changes in the public foods, the
occasional depressions experienced in the com-
mercial world, the failures of long-established houses
ruined by soecidatiosis, wherein the absence of a
tix.d standard of value baffles their experience and
skill. We use the word speculations here in
a good sense, as expressing those fair and
honourable enterprises in which merchants moat
inevitably engage, and which, as a happy union of
skill, courage, and capital, have hitherto distior-
guished the merchants of this country above all
others ; but contrasted with these there is another
class of speculators, who confine their operations
to the money market, surd triumph iii the con-
fusion and uncertainty that in the present
system urns: ail through t the conittitiorty.
These men have unfortunately acquired too
much influence, and by holding w their hands
the apparent barometer of gumless credit, are co.
/Ailed to control the Treasury and the Palter;

'mar""';

~~~~.

. r

/

•
Bluff. Their eti,te;,ce ltrininotes with lit. 11,,„k
reit /101011. and if !lie destruction 6f viseli e-foori
ware the only uilriantage lobe derived from
to rash payment-, it iv " a cminirndettiiiii
vaulty to he wialsed for ;" lint with 11.. it
Must likeisi,e terminate the prevent rioilonu, 'uverlo.
toy of property, whic.i interrupts the inlet." a
besineav, del singe, initiate property, and in varto slat
prevent, the for.n.irion of all bargain.,. ends v. ny,t.
gages, the granting el timosities. and each ;ik• aus.
rani/einem,. that ore permanent HNC. 't.

DR! 111"-111111 to operate /Wan). While ti,e

fitteg medium islr taw. there ni
fur the vdltie of prope,re ; slid who 1,6,10
himself to the performoter of s opreifie
of which the effect vattot4 forteeta. bud
no coofideoce eau hr At Oust itl • fro yews 114
spit a trot Lac tutitly opposed .tu the term Gr
the cootruet ?

We ltd.e receiver! tsar Paris Pipers to the 3•I
instant. The present erstiOu wboutiits with sflil
death% mid tnarriagea. To the h•t ul• the former we
have now In add the death of the Ee.16„4
IV., of Spain. His Illiaitsve survlbril
has (lces•:s htrlc snore than a fortnight.--A 11.1,6,
lotion trolls the Chamber of Peen,. sit the heasi of
which was the CHANCELLOR, prevented, on tic 3d,
to his MAJEATT, the law fur granting a national ft.
convener to the Duke of Iticumak in. It bad been
adopted in that body on Tuesday, by a majority of 83
to 43, e circunifftance which 'hews the propriety oldie
Noble Duke's origins! desire to decline this in4rk of
Royal favour. Considerable alarm apps►, to hate
heels .elltnitld in remote parts of Frus,ce fur the
comairrcial stet. of Marseilles. The shock. how.
ever, was but a slight one, from the effects of which
the city ppredsly recovered.
'll.llr Freoch Fonda have improved coowiderahlt..
Os. M lay the Five per Ceists.opessed at 691. 90c.
and closed at 70 I. 30 c. ; and on Wednesday at
701. 00 c. Bank Stock on Tuesday, 1,515 I.; ow
Wednesday 1,521! 1.

We have received New Yo. k Papers to the eth
he Autional Intelligencer gives a brief out.
line of the adjustment of the disputes between
Spain and the United States. In the first Arnde
it is mentioned, that the United States deeply
regret the violation of the Spanish territory by the
American forces under General Jatusofr. and that
it wait without the authority of the Goverowew.
The second Article refers to the ceb,loo of ti,e
Floridan to the United States. The third tool
fourth Articles give a brat outline of the
to territory. fifth a .d sixth regulate the
tion of the two countries, and the old Treaty Is
referred to where it was agreed that the flag shou:,l
protect the cargo; but in case of future nati,
any Beiligerent should not acknowledge this prai.
efpfe, then the Treaty on this sulsject to be consi-
dered void. The last Article state. that the et ssi.in
of the Florida. shall he considered in full m meta
lot all claims of America upon Spain; rod an a
great proportion of these claims have arisen kraal
the confiscation of American property by Frelici
Officers, while in the territory of Spain, these
amounts to be specified by the United State.,
that they may be claimed from the Government of
France.

The intelligence from South America is of tlie
moat erorsorditiary description. An American, of
Nltinte Video, of eminence, it is stated, has trans-
mitted to the Uhited Stater the unexpected
genet. that the Govtriament of Buenos Ayrea, in
conjunction with Chili, have resolved on mendivg
oil otter to an European Foreigner, of " the Crow',
of South America." The Envoy was to proceed
to France.

An expedition. consistinw, of 3,000 men, had
been dispatched to Santa. Ft. A large expedittim
against Low was preparing at Valparaiso.

On Sitturthie morning, •t ten o'cloilt. the Lords
of the Council had • inteling :it the Privy Colour:I
Room. on Prize Appeals. which wi.i atteoitoit
Lv the LORD PRESIDENT. Sir W. GRANT, Sir
JOHN NICHOL, Mr. BEA:Kwitn,&.c.

Saturday efteritooti the Doke oe DUCCLFCCS
MA Lord BERESEORD, Coniottettder.iti-Chief er the
Portuguese army, ar.ived at the Geor4e
l'ottointintli, to embark in hi. Majesty's frigate
Liffey, Cuptoiti H's• HENRY Untscse, C.B. for
Lisbon, which ohm hos been fitte,l fur their tele
bun said passage vise of the wind
pr -
vents the Liffey's sir
Lieutenant PA Ray is appointed to the /I,r!-:,
with 55 men, and L.elitetiatit Lininx, is i!e
Griper, with 35 men, tun-oiled for the next
iii tti.covery t,i the Nustil Lieuteultit Lord
H. Itir NNE is aispOtarti to the Active.
Cowv., FEBRUARY s.—Oti the 17th tilt. in
long. 36. ht. 44. 30. oft tile batiks id Newbfundo
land, Captain GRAVES. of the Chutles (which too
rived at this port from N.tioncket, on the 2il
fell in with the brig Athon. of Chester, GEORGIC
TAYLOR, mostet, fr,un Curk, Wen with curl+, for
Boston, soil caving mite posiieogers on hood,
'rater-lugged, and tl.e afra stoking a fur loeitch
over her, with all her pulls blown away, Colitatto
TAY Loh, his crew (I'2 in number, two litivioz
died), und the passengers .f who's three %tr.e
fetualt,), exhausted with faitpie, and booltled
with the dysentery, so as not to be able to o.t.se 4111
detk. The see was 1441111.104:140 mountainous high.
that Capt. ttA YES Could only take them out of t!
Nelson by too in a time, which lie did, and lande.l
thin sole h.re this diiy. The isillihttritts of ' Eiott
;Aid %%eo Cosec suflirietit to supnly
them with clothes, &c. tirttl they 00 be fotetirkleJ
to their rewprciive homes. . .

!!!

[run( stumps% NIGHT'S sAirrs.)

:ir''`).‘t% , . I-1 -11. ••
.V-I - " • ' t 44. . ,?.:
1 k .
fd
._ )....k-
II .- ' : g sa*.-
, •
4,,,4,,„...:_ , ...., zi ...
,e— er";•,=*. rdr if
.--'-e. f,A* ~.....-:-Ero,‘ x,,,......
. : ,:.,v jug"... :.'3ll
„.........„,.. •
j0u,....)....'-, „,,,....,.e,;,
:if4rts
liti‘;,a

LORD CHANIERLA IN'S OPTICIA.Fut Mi.

Order% for the Court" going into inourninfz, on
Sunday nest, the 7th in•tnut, for her late MiajeNty
the reig K 941C1.11 Wirtrinlter;;;.
The !Ain to wear bl.lck silk, Gifted or plain limn,
.bite gloves, necklaces and eur-riur, black or white shapes,
fans and Tippets.
. .

• Cadets—Whitt ar pey itistrinv, tahhirg or ihmaske.
The fSelittemen to wear Mark, NU trimmed, (lova o►
'plain Imes, Week swords and but klrt.

•
Uadrems—Grey frocks.
'llie Court to change the mourning on Sunday,
the 141 h instant, •iz.

The Ladies I. wear black silk or Wee., coloured ribbanrisi
fens and tippet*, to plain white, or white and gold, or white
and silver staffs, will, black
The Grastews to wear black cwsla, and black nr plain
while, or while and pail, or white and silver stuff waistcoats,
full trimmed, enlists' et' words and buckles.
And on Thum&sy, the 18th nttuut, the Court
to go out of mourning.