The British Press; or, Morning Literary Advertiser.
London, England, 1822-10-08 00:00:00

'bate on the propriety of senaitsg Oortottimiaiienters
to these countries, to 'vette what they have got to
say. They may save themselves that trouble, as the
time is now gone by when liligiiroposals would be
ristened to short of absolute ihdefileakletice. 'Spain
3mi,', well make tap kr &igen retwgaisa as at4oilloiyitbesit _worn lbr to
teiliproibse a.t.c. at *lfetwenr Piellnetant'she
ylit4o grit it. We are leery year beewuiiiig
tiewiTeted nseetwahned from the leather condtry
antt;lf Iluch longer 'delayed, it will have lost all iis
imporrance.l more especially if-England, or ally of
..thil'Etirwpesti •Power's, theild follow the steps of
Worth 'America.

-" already that this Government has
.nile much inwards the restoration of public cre-
dit. _Their. debt is about live millions of dollars,
'which. is Moiled, aid the interest 'paid regularly
terry quarter ; besides, as the revenue now exceeds
lustcriilly the extwossaluotwithatawding the duties
are reduced Owe than osee-half), they are applying
such' adtplus io wiping off their debt. I have
each iniplicit confidence in the stability of the pre-
sent system. that 11. would not hesitate to invest
inoary iu their -stock, which, though nominally six
per test. per antrum, !toys, au cording to its present
reduced value, hearty 90 per cent annually. 1 have
No doubt that the value of ibis property will
gnidnally turrease; sod if we go oa improving as
rwe here latterly dune. 1 should think some of your
I capitalist. will be tempted to boy in, whilst such
advantageous interest is derived."—!lbid.)

re die EDITOR of The BRITISH PRESS.

Sia--I have in a femme hitter expressed a rite-
tided opirkiun, that the league of Sovereigns which
at the present daytattempts to keep down the spirit
of improverueot.• will dissolve by the iuherent de.
fects of its conatitotion. It will not, however, be
iticonsistilitvilthz that opinion, if I now attempt to
point out sow of the consequences which could
not fail to arise from its long-continued existence.
The project of establishing an universal Monarchy
in Europe has Sprung up at cliff...rent periods in the
ambitious talents of individual Sovereigns; attempts
have been made to carry this project jot* effect ;
these attempts have constantly failed, and every to-
lightened mind has rejoiced at their failure. if we
ceu suppose the possibility of this alliance of Kings
being permanent, will not a state of things nearly
approaching ui Fbaracter to an universal Monarchy
have been is effect established ? Europe will have
become one federal State, and her different Sove-
reigns, uo loner independent, will have dwindled
iuto the Lieutenants of a coufederacy. Every
year edited. to the duration of this league,
and every fresh enterprise spinet freedom in
which it may embark, will vender this degrad-
ed character of Lieutenant more fixed and in-
delible ; for the feelings of loyalty in the 'minds
of their subjects being gradually extinguished,
they will severally feel themselves more and more
deprodaut upon the federation, as the sole remain.
ing guarantee of their sway. Bat equality of power
and.aothority amongst the different members of a
league like. this' is 'obviously impossible, and,
iockrd."it tin start:it-7 WI to happen that sooner or
later some Aim member of AM Amore Should ac-
quire • predominant inflows°, in its cot:Ewalt, and
enjoy the power, authority, and even the title of its
head. Whenever this shall arrive, and if the Holy.
Alliauce isle be lien:einem, arrive it most, Europe
is one Monarchy, and the splendid slalom of
Charles V. and Louis XIV. are substantially rea-
lized. Thus all these royal conspirators against
freedom, excepting the distinguished one, will ex-
perieree the appropriate punishment of their base.
uess and folly in the degradation of their respective
thrones.
We cannot here refrain from the anxious inquiry.
to which of the Allied Sovereigns the pre-eminence
would tisturally belong ? Unhappily the sourer
to this inquiry does not demand any very laborious
or difficult investigation. In any combination of
men formed for the purpose of mutually affording
insistence to each other in any given contingency,
it is obvious that that individual must enjoy the
greatest consideration whose power to lend assist-
ance is the greatest, sud who is the least likely from.
his eircumstuuces ever to be in the necessity of de-
manding it. If the league of European Sovereigns
be is effect a compact by which they are mutually
pledged to become borrowers or lenders of military
force, as the interest or wishes of existing authority
may from time to time require. it cannot, I think,
be doubted that he must possess a gradually in-
creasing ascendency. who has the most ample means
to lend, and the least occasion to borrow. if these
two advantages concur in favour of any individual
member of the league, it is almost inevitable that
he should at length acquire the name, character,
and influence of its head.

The Emperor of Raisin alone, of all the Allied
Savereig►u, combines these two essential conditions
of supremacy ; and this not so much on account of
the greater number, as of the greater barbarity of
his subjects. Paradoxical or sarcastic as this may
appear, it is nevertheless a truth of which .every
mind will, on a moment's reflection, be convinced.
The dangers to which► this league is avowedly op-
posed, are such as existing authority has to dread
front the improved civilizat►on and progressive intel.
ligence of nations. From this dread, Russia, es a
separate Power, must be, of all others, the most ex-
empt. Knowledge has yet shot scarcely one ray of
light upon the barbarous hordes which own Alex-
under as their chief. His subjects and his troops
will be long err they begin to speculate on forms of
government, or to dream that the people's good