The British Press; or, Morning Literary Advertiser.
London, England, 1825-01-12 00:00:00

BULLION.

to 2
10 2
36_

_ _ _
.C. s. d.
Portugal Gold in coin 0 0 0
Foreign Gold in bars 17 9
New Doubloons 3 17 0

New Dollars
Silver in bars

o o o
O b of

PRICES OF SHARES YESTERDAY.
Anigio-Mexican Mine - 1001. Share, 101. paid, .C 153 120
United Mexican Mine - 40/. - 10/. - 145 115
Arians Ironand Coal Mines 1001. -5/. - 214 22
(.olorobian Mine . 1001. - 51. - 1.10 G 2
Real del Monte Mine . 4001. - 701. -
Brazilian Mine . 103/. - 51. - 66 44 pm
Rio de la Plata Mine - 1001. - 51. - 68 56 53 pm
Ilibernian Mine - 501. - 21. - 34 spm
Australian Company - 1001. - It. - 24 25
Cicada Company - 1001. -5/. - 25 23 24
Pearl Fishery Company 25/. -2/. - 25 pm
Alliance Company . 1001. - 10!. - 1114
Sistine Alliance Company 1001. - 51. - 71 1
ontinental Cu Company 100/. - 01. - 224 pm
Bath and Bristol Rail-road 501. - I!. -
Kentish Rail-road - 50/. - 11. - _

London and Bristol - :SOL
Birmingham and London Railway

pm
. 1 pm

Ehe 9 rittoft I)!refso.

THEATRE. ROYAL, DRURY-LANE.
Thu Evening. WEDNESDAV. lan.le. will be performed
THE SIEGE OF BELGRADE.

The Sommelee. xi. iiiiiiiiii Nome]. Mr. 0.
&rah; Vu.reph, Mr. (Jetties Leopold, Mr. Harley; Peter. Mr. Fitz-
adlin• Aalselm, Mr. Bedford. Ulla, few Stephens; ILetberine.
iddon ; Ohlta. Mae Nleol.

After which.
HARLF.QIIIN AND THE TALKING BIRD.
THE SINGING TREES. AND GOLDEN WATERS.
HarlequJu, Mr. Auld; Pantaloon, Mr. Blanchard; Clown, Mr.
Kirby. Columbine, Mlle Barnett.
Der Freiechuts.
ly popular new Pantomime ovary Evaning•

The very

- -
THF:ATRE ROYAL. COVENT-GARDEN.
This Evening, WEDNESDAY. Jan. 12, will be performed
INKLE AND Y Alt Ico.
Sir Christopher Curry. Mr. W. Farrel): kale. Mr. • Captain
Catipiey. Mr. Pea:atm' Medium, Mr. Meadows: TrAtelge. Mr. Parr.
eett. Parfet.. Min M. Tree: Narcissus, Mi.. II"T"."1" ""W"i'
Mass Love: Patty, Mrs. Gibbs,

After .
HARLEQUIN AND THE whichDßAboN OF IVANTLEY;
Or, MORE OF MORE HALL.
Harlequin, Mr. Eller 1 Pantaloon. Mr. Karnes; Clown, Mr. J. S. Gri-
maldi. Columbine. Maa Homer.
To-morrow, The Ineenetant.
The new Pantomime every Evening*

TO CORRESPONDENTS.
The Letter Oa the Conaiwation Laws shall certainly arpesr

to-morrow.

The BRITISH Pits, commenced publishing yesterday owning
at five o'clock.

LONDON, WEDNESDAY. JANUARY 12, 1823.

The Paris Papers of Sunday arrived last night. They
contain no intelligence which we have not anticipated by
other channels. The recognition of the new American
States continues to divide attention with the legislative
measures before the Chambers. The Journal des Debals,

the organ of the royalist opposition, exluecses itself on the
sullied in the following terms. Its observations and in-
terrogatories are more worthy of notice, as illustrative of
the feelings of the Royalist party, than the remarks that
might appear (if any did, which is not the case,) in the
ministerial papers, as they are necessarily more guarded
in delivering their sentiments.
" It is now certain that England has concluded commercial
treaties with Colombia and Mexico, of which the basis must tines.
sarily be, the recognition of the independence of those Colonies.,
because no treaty could be had with a dependent power, it not
having the authority either to sign or enforce it.
" The consequences of this measure to the world are very
serious. What part will the European Continent take? What
part will France herself take?
" And it is at this critical moment that an indemnity is proposed,
at other times so desirable, but founded on a project of eventual
prosperity, which would require at least five years of peace to
realize. And is it at this moment that the rentes are to be reduced,
and fresh securities created, and the whole system of finance to be
overturned, and the fats of fortunes to be risked, on a desperate
game of chance ?
".Mr. Canning plays better than ourselves. While we were
triumphing in Spain, while our credit was upheld by the rejection
of the law of the Rentes, he took care to blink a question in which
we might have interfered with so much effect but when he saw
how little we had profited by the success of our army in Spain,
and by the glory of the Dauphin—when he saw us entering on our
disastrous financial specu'Ation, then he discovered that the moment
for acting had arrived.
" And then what does M. de Villele do ?

By the very nature of the ministerial projects of law it is evident
that he has foreseen nothing ; that he has adopted no system ; aid
that he has paid no sort of regard to our foreign relations.
" By and bye !
Bmides the discussion, of which we ga►e an abridg-
ment yesterday, respecting the petition of the men of co-
lour from Martinique, it appears that some agitation was
excited in the Chamber of Deputies on Saturday, by the
report of a petition from one of the new proprietors, who
having purchased a ratification of his title from the old
proprietor, prayed to be allowed to share in the indemnity
to the extent of the sum he had paid the emigrant. It was
proposed to refer this petition to the Committee on the in-
demnity, but M. de Puystacatx, and some of the Ultra
Royalist Members, insisted upon passing it over without
any notice." What !" exclaimed this Deputy, "shall we give
the gainer an indemnity as well as the loser ? It is as if we
were to listen to the request of a robber who had the audacity
to claim a part of the compensation given to his victim."
This violent and indecent language threw the Chamber into
confusion, and it was not till the President had rung his
bell once or twice that order was restored. The petition,
in spite of the opposition it received, was referred to the
Committee.

The llfoniteur is almost entirely filled with the proceed-
ings in the Chamber of Deputies. It contains nothing
official ; but it at last notifies that the royal ordinance for
levying 60,000 men, to which we have before alluded,
will appear in the next number. The following are ex-
tracts:—

PARIS, JAN. 8.

An Ordinance of the King, dated 18th December, the text Of
which we shall give in our next number, orden the levy of 60,000
men of the class of 1824.

Towards the end of December the coast guard of St. Jean de
Mont (department of Lavendee), found a bottle containing s note,
written with a pencil, partly torn, with these terms—
We, passengers on board the Elizabeth, Captain Lecomte, re-
quest the yerson who shall receive this note, to be so good as to
inform M. Bouchon, that the Elizabeth was this day, 29th Sept.
1824, with the wind on the quarter, steering E.S.E., at seven knots
an hour, towards Madeira.

All the aew and the passengers on board, whose names are an-
nexed, are well.
Half-past two o'clock.

Last night the Brussels Papers of Sunday reached us.
The States-General are employed in amending the laws
regulating the commercial intercourse of the Netherlands
with ether countries. The agriculturists, it seems, are
complaining of distress, and urge measures of reprisal on
their neighbours. The only sure remedy for these de-
rangements of the social machine is time; to which we
have no doubt the Dutch Ministers will refer these eternal
petitioners for relief and protection. Certainly no en-
lightened nation will now encumber its Statute Book with
fresh enactments against the freedom of trade ; we ought
rather to expect the abolition of all remaining restrictions.
BRUSSELS, JAN. 0.

Yesterday there passed through this city a British Cabinet Mes-
senger, sent from Vienna by Mr.Stratfurd Canning, with despatches,
said to be important for the English Cabinet.
The Second Chamber of the States General, after four Sittings,
-mployed in discussing the project of law foe sonic changes in the
Tariff of Customs, adopted 'J yesterday, by a majority of 72 to 23.
In these debates the distress of agriculture was frequently men-
tioned, and several Members expressed a wish for measures of re-
prisal against the French commerce. AVltile a subject of such
interest to our country was debating, with equal judgment and
patriotism, 31. de St. Cricq, President of the Board of Commerce
and Colonies in France, proposed to the Chamber of Deputies, in
the Sitting of January 3, some changes in the Tariff of Customs.
In the exposition of the grounds fur this measure, we observe the
following phrase :—" The best commercial legislation is that which
most effectually protects the agriculture and the manufac:um of
the country ; and this protection ought to go so far as to insure to
those in the home market a great preference above foreign agricul-
ture and manufactures. Let us, however, not forget that foreign
commerce is also a means of acquiring riches ; that exchanges are
the aliment of it, and that we must provide that exchanges may be
made on reasonable terms."

The fever of speculation which raged on Monday in the
American mining shares, has, we are glad to find, begun
to subside, and, with the returning sobriety of the public
mind, there has been a corresponding decline in the nominal
value of these attractive adventures. There was an average
fall of at least 25 per cent. yesterday on all the shares that
were in the market. No business was done in the Real
del Monte project ; the shareholders who had asked 1,500!.
on Monday being, we believe, yesterday'afraid of offering to
sell at all, on account of the ludicrous contrast the prices
they would realise would make with the lofty demands of
the preceding day : according to the old adage, however, it
is very probable that they may go further and fare worse.
It is not likely now that the delusion is losing its power
—that prices even so good as those of yesterday will again
be attainable. The decline, we expect, will yet be greater.
These are not the times when bubbles like the South Sea
scheme can be blown, and thousands of ignorant persons
duped out of their property by the artifices of daring spe-
culators. The press is now ready to canvass and expose
every attempt to work upon public credulity, and the suc-
cess of imposture must necessarily be very limited both in
extent and duration. It gives us pleasure to know
that we have contributed to allay the insane ardoLT
that was prevailing in respect of these Alining
Companies. The check they sustained yesterday may
be justly regarded as one of the beneficial effects of
the vigilant and enlightened control exercised by the daily
press over the public welfare. General principles are too
commonly neglected in the consideration of particular mea-
sures, or the purchasers of these shares would, if they had
known anything of the subject of their speculations, have

been aware that the larger their profits, the sooner they
would be at an end. The depreciation of value that re-
sults from the increase of the precious metals, is fatal, in
the nature of things, to those dreams of boundless wealth
in which all mining speculators have indulged. Mo tyres-
QUltlf, in treating of the causes of the decay of Spain,
which he ascribes to these very American mines, observes,',
" As the specie of Europe soon doubled, the profit of
Spain diminished in the same proportion, and the Spa-
niards had every year but the same quantity of a metal
which was become by one half less precious. In double the
time, the specie still doubled, and the profit still diminished
another half, and even more." Headds afterwards, " but
if mines should be discovered so fruitful as to give a much
greater profit, the more fruitful they will be the sooner the
profit will cease." But perhaps, after all, es facts speak
more eloquently than words, we think it not amiss just
now to look back to what passed in this city a little more
than a century ago, when the mania for schemes raged in
its utmost fulness, unlimited by any of the circumstances
to which we have before alluded. The strength of the de-
lusion re•.pecting the great bubble of that day is thus de-
scribed in " Applebee's Journal" of August .5, 1720:
" Our South Sea equipages increase every day; the city ladies
buy South Sea jewels ; hire South Sea maids ; and take new coun-
try South Sea houses; the gentlemen set up South Sea coaches-
and buy South Sea estates, that they neither examine the situation,
the nature or quality of the soil, or price of the purchase, only the
annual rent and the title: for the rest, they take all by the lump,
and give forty to fifty years' purchase. This has brought so many
estates to market, that the number of land-jobbers begin to increase
to a great degree, almost equal to the stock-jobbers we had be,
fore."
Parliament had previously interfered to crush the petty
frauds, which had mult;plied to an amazing amount. Ac-
cording to a calculation in a number of the London Weekly
Packet for January, 1720, it appears that the stocks pro-
posed to be raised by these schemes, exceeded 28,000,0001.,
" above twice as much," adds the journalist, " as the cur-
rent coin of the nation, nay, more than the third part of all
the payments the circulation of that current coin performs
in the whole kingdom." In the same paper there is a list
of ninety of those schemes, from which we purpose to-mor-
row to make some curious, and, in these times we hope,
not uninstructive, extracts.

With respect to the general question of mining schemes,
we would advise those who are about to embark in them
to ponder well first on the observations of ADAM SMITH.
Let them then look around them, if they have superfluous
capital, and see what feasible projects there are at home,
and if they must speculate, let their enterprise be directed
to the improvement of their country.
" Projects of mining, instead of replacing the capital employed
in them, together with the ordinary profits of stock, commonly
absorb both capital and profit. They are the projects, therefore,
to which, of all others, a prudent law-giver, who desired to in-
crease the capital of his nation, would least chose to give any ex-
traordinary encouragement ; or, to turn towards them a greater
share of that capital, than what would go to them of its owa ac-
cord. Such, in reality, is the absurd confidence which almost all
men have in their own good fortune, that wherever there is the least
probability of success, too great a share of it is apt to go to them
of its own accord.

" But, though the judgment of sober reason and experience eon.
cerning such projects has always been extremely unfavourable, that
of human avidity has commonly been qtthe otherwise. The same
passion which has suggested to so many people the absurd ides of
the philosopher's atone, has suggested to others the equally absurd
one of immense rich mines of gold and silver. They did not con-
sider that the value of these metals has, in all ages and nations,
arisen chiefly from their scarcity ; and, that their scarcity has arisen
from the very small quantities of then which nature has any where
deposited in one place: from the hard and intractable substances
with which she has almost every where surrounded those small
quantities ; and, consequently, from the labour and expense which
are every where necessary, in order to penetrate to and get at them,
They flattered themselves, that veins of those metals might in
many places be Lund, as large and as abundant as those which
are commonly found of lead, or copper, or tin, or iron. The dream
of Sir Walter Raleigh, concerning the golden city and country of
Eldorado, may satisfy us, that even wise men are not always
exempt from such strange delusions. More than a hundred years
after the death of that great man, the Jesuit Gurnila was still con-
vinces' of the reality of that wonderful country; and expressed
with great warmth, and I dare to say, with great sincerity,
how happy he should be to carry the light of the gospel to a
people who could so well reward the pious labours of their
Missionary. _ _

•
" In the countries first discovered by the Spaniards, no gold and
silver mines arc at present known, which are supposed to be worth
the working. The quantities of those metals which the first ad-
venturers are said to have found there, had probably been very
much magnified, as well u the fertility of the mines which were
wrought immediately after the first discovery."—WEaLett or
NATIOXS, Book IV. c. i.

The proceedings of the Irish Catholic Association on
Saturday, which will be found in another part of
this day's paper, are of considerable interest. The meet-
ing was unusually numerous, and the speeches seem to
us more impressive than usual—perhaps because they are
much better reported than generally in the Irish Papers.
We have not space for a lengthened commentary, though
the growing importance of the question renders it every
day of greater magnitude to the welfare of the empire.

Yesterday afternoon, at four o'clock, the Duke of York
held a Levee as Commander-in-Chief, at his Office in the
Horse Geards, which was attended by between forty and
fifty Military Officers.
A Board of the Lords of tho Treasury was held at the
Treasury Chambers yesterday.
The Chancellor of the Exchequer came to town yester-
day morning from Beckenham.
Official notice has been given, that, in consequence of
the intended augmentation of the regiments in India to
their full complement, an addition of three or four thousand
men is required to be raised. For this purpose extensive
recruiting parties are distributed throughout Ireland, where,
it is hoped and expected, from the heroic character of the
people, that the whole augmentation will be completed in
a very short period.
For some years past the Colonial Department has been
harassed by a continued reiteration of complaint, and ap-
peal from New South IVales, which his Majesty's Govern-
ment have resolved to terminate by an entire change in the
civil administration of that colony. Without entering upon
the many grounds of disapprobation which have led to such
determination on the part of Ministers, we may observe
that it is understood to arise from a eonviction of the ab-
solute necessity of an immediate and effectual change in the
colonial system of Government in New South Wales.—
Even isg Paper.
A private letter from Brussels of the 24th ult. mentions
the mysterious arrest of an English gentleman of respectable
connexions, long resident in that city. Ile was taken out
of bed by three officers of Justice, and hurried to prison.
On the remonstrance of Sir Charles Begot, he was, after
an examination in the Hall of Audience, discharged, with-
out any specific charge being brought against him.
Two Ships have been lately built in Sir Robert Wigram's
yard, for the Colombian pearl fishery, with diving bells,
&c., and are nearly equipped ; one is shortly expected to
be launched, and the ober also in the course of a few
weeks, and will proved to continence the pearl fishery.
Eea.sTeM.—ln our notices to Correspondents yesterday,
was the following :—" The subscription will be forwarded
to the Spanish and Italian refugees. It was not respired
when it was first sent." For " when" read " u/mere.

The 99th regiment of Infantry, now in Edinburgh
Castle, will embark forthwith for Portsmouth, preparatory
to its proceeding on foreign service.

FASHIONABLE INTELLIGENCE.
Emily Marchioness of London(Terry arrived yesterday, at her seat,
North Cray, Kent, from a visit to the hlarchioness of Hertford, at
liastirr, Sussex.
The Marquis of Conyngharn arrived yesterday, at his house in
Hamilton-place, from NVindsor Lodge.
The Earl and Countess of Stanhope have arrived at their seat
in Kent. for Brighton.
Earl Gower has left town for his father's, the Marquis of Stafford's
seat, in Surrey.
Lord Hervey arrived in town reaterday from his father's, the Earl
of Bristol's seat, Ickworth Park, Suffolk.
' Sir W. Knighton, Bart. arrived in town yesterday from Windsor
Lodge.
Mr. and Mrs. Luttrell have arrived at 'their house in Grafton-
street, from their seat in Surrey.
The Honourable Mr. de Roos has left town for Brighton.
Lord Rivers has left town for his seat, Hain Park, Ncwmat kit.
Honourable Colonel Howard, 31. P., has left town for his seat,
Aslitead Park, Surrey.
The Marquis of Litchfield has arrived at his father's, the Duke
of Portland's, Welbeck, Notts, from a tour.
Departures from the British Hotel, Jermyn-street :--Mr. and
Mrs. Mayhew, for their seat in Norfolk; J. Stratford, Esq., for
Oxford.

TO TILE EDITOR OF THE BRITISII PRESS.
Sta.—An error of some importance has, I am confident, most
unintentionally crept into your Report of the proceedingsof the
Electing which took place, on Sunday evening last, at St. Patrick's
school, Meant-street. for the purpose of organizing the mode of col-
lecting the British Catholic Rent. Your Reporter has stated'
" that the money received was to be paid into a bankee's hands•
and remitted to the Catholic Association, in Dublin, every month."
The fact is not so. The intention of that meetin was to supply
a fund which should be at the disposal of the' British Catholic
Association. I have the honour to be, Sir,
Your most obedient servant,
JOHN ROSSON.

THE BANK OF ENGLAND AND MARSH
AND CO.