The British Press; or, Morning Literary Advertiser.
London, England, 1825-12-09 00:00:00

PRIVATE LETTER.

We learn from Corfu,—that aTara; despatched from Constan-
tinople has brought to the Sneakier, Retlrthid Pacha, despatches
from the Porte, et.joining him in the most formal manner to keep
his army on the best possible footing; and notwithstanding the
advanced season, to continue the siege of Missolonghi. He is in-
formed at the same time that the Capitan Pacha, as soon as he
has landed the Egyptian troops in the Mores, will proceed to the
Gulf of Lepanto, to co-orcrate with the army of Tbessaly.
Redschid Paella has published at his head-quarters a brmen of
the Sultan, threatening with the severest penalties every Turkish
soldier who shall quit his corps. This Pacha has written very
imperious letters to the Albanian Chiefs who have quitted the
Turkish army to return to their homes ; that they are immediately
to set out CO rejoin him with their troops.
Friss/cm Fuxin DEC. 9.--Five per Cents. W. 9k. ;
Three per Cents. lbf. 7k. ; Rente de Naples, 78f. 75c.; Rente
d'Espagne, ; Royal Spanish Loan, 501.; Haytian Loan, 800 f.
Exchange on Londuo—One Month, 25f. ; three months, 241. 80e.
—Cows Authentic".

We have received New York papers to the 17th ult.
With the exception of the following paragraph, they are
entirely destitute of political intelligence :

(From the New York Gazette of Nor. 16.)

Flom H .—We have been favoured by a very respect-
able mercantile house in this city with the following interesting
letter, dated Havannah, Oct. 29 :—An expedition, consisting of
three frigates and two transports, having on board 500 men, sailed
from this the 20th of last month, for the relief of the Castle of San
Juan de (lies, at Vera Cruz. When within one hundred and fifty
miles of their port of destination a furious storm separated them.
and this morning the largest frigate, the Sabina, with the Admiral
on board, returned dismested, without having been able to r ffect a
landing at the Castle. One hundred men, a number of officers,
the principal part of the stores, and a quantity of money for the
succour of the Castle, have returned in the Sabina, leaving those
almost destitute that arrived there; so that the expedition may
be said to be nearly broken up, because it will be some time before
this ship is refitted; In the main time the Mexican force at Sacri.
ficios, near Vera Cruz, consisting of a 50 gun frigate, two brigs,
and six gun-boats, may attack and perhaps capture the Spanish
frigates before they can return here. If the Mexicans had a force suf.
deft to blockade that castle, and oblige It to surrender, it would be •
good thing for us here. This treasury furnishes 50.00 dollars per
month for that fortress, which is certainly not worth keeping, for the
idea is preposterous that Spain can ever again reconquer Mexico
The for of the castle would probably induce Spain to come to a
reconciliation with Mexico for the safety of Cuba, and open a trade
again between Vera Cruz and Havannah.

This island is perfectly tranquil at present. Our ensuing crop
will be large, both for sugar and coffee ; there is very little now of
either in market, and no molasses—the former is held at enormous
rates and in greater demand—the latter has not advanced any,
being very little sought after. Exchange is heavy, owing to the
failures in England and the United States.

Bush.—Accounts from Pernambuco state that a numerous
levy of troops was taking plate throughout the empire of Brasil.
The levy *as made by tonsaiption, and many of the young men
had escaped and concealed themselves to avoid it. The cause of
this proceeding is attributed to the dissatisfaetlon entertained by
the people of Brril to that part of the late treaty with Portugal
which stipulates that the King of Portugal shall bear, in common
with Don Pedro, the tide of Emperor of Brasil. It is supposed,
therefore, that it; would squire the whole force which could be
raised to keep matters quiet. --Mo. Adv.
[From Willie's Now Orison Pelee Carreat of Oct 151
Coven tr.—As it respects this article, we are competed to repeat
the old story, " no sales or inquiry, consegneody obliged to omit
quotations, sod haying no data to go upon, cannot vesture an opi-
ates es to he seminal value." We understand *Nevis great indite.
try exerdsed in the country in picking, and but little disposition to
send to market until there is a demand here and prices somewhat
established, which is manifest by the small arrivals, compared with
those thistime last year. The late accounts from Liverpool up to
the 16th August, connected with the three preceding weeks, are
unfavourable for early speculations in this article, and the views of
the sellers and purchasers will no doubt differ very widely at the
opening of the market. Arrived this week from the interior, 144
bales ; cleared for Liverpool 760.

. - 257 bales
1957

Arrived sines lst inst.
Arrived in earns time last year

The Times of yesterday attempts, not merely to vindi-
cate, but to praise itself for the inflammatory endeavours it
has made to aggravate the ernbarassments which, at this
moment, afflict the commercial world, and for the extent to
which it has contributed to excite that public alarm which
has been so injurious to private credit, and so destructive
to commercial confidence. But its mance:lure on this sub-
ject is worth remarking. The public are gravely told, in
its leading article on the state of the Money Market, that
" with respect to the measures taking in the City to sup-.
port commercial credit, the present conduct of the Bank
Directors is lauded, although they, it is said, have to bear
the blame of having brought on the crisis by their own
previous deviations from sound principles of banking."

It is said! and who has said it? Is it not the
Times itself that has, day after day, accused the Bank of
having " brought on the crisis" by " having lent its aid to
stimulate and encourage the rage for speculation ?" Has this
journalist not, day after day, endeavoured to depreciate the
credit of the Bank by undervaluing its resources, and by
enumerating dangers which have no existence? But after at-
tempting indirectly to retract its malignant insinuations, and
to shift aside the indignation it has so justly incurred from
every quarter, this journalist manifestly feels humiliated by
even this slight recantation, and he accordingly endeavours to
recover from it by introducing a second leader; by way of
apology for which, we are told that "the state of the money-
market requires a few additional remarks," and he then re-
turns to his attack on the Bankers, and renews his en-
deavours to cry down their credit and to destroy the public
confidence in their stability. It is asked—" Are not these
bankers well aware that the state to which they hare
brouet things, by their over issues and their too ready
supplies from scanty capitols, was a state most grievously
oppressive and injurious to the nation, as well as destruc-
tive of• its character and morals? Why ask, thus artfully,
it the Bankers are not well awa, e of having caused those
dreadful effects on the credit, prosperity, character, and
morals of the nation ? The accusation is as tithe as it is
mischievous; and it is only an additional insult to ask the
hankers if they arc not convious of its truth. The public
are moreover told tkat, " such is the thoughtlessness
of mankind, that if the difficulties now existing were
smothered up, and the accommodation-paper men suff•red
to huddle up their ()furs as well as they could, without being
obliged to put their real junds to the test, their map, and
not their danger, would be pleaded as a precedent to nye-
late their future conduct." The manifest object of all this
ia, to induce all who may have any sums of money at a
banker's " to put their real funds to the kit," and by this
means, to occasion a run upon them, which, taking them
II suddenly, they tray be unprepared to meet. The Times
has omitted no effort which could tend to produce this

THE BRITISH PRESS•

eLcet. But we would entreat all whom its misrepresenta-
tions may have misled, or whom its assertions may have
inspired with alarm, to pause, and consider, whether by
their groundless want of confidence they may not them-
selves occasion the very danger they apprehend ? No
unemployed and unproductive in his chest
banker, from the very nature of bia establishment, cart be
supposed to Leep
the whole of the money deposited with him by his custom-
ers, and if such alarmists as the Time: and Coansrr
for the former is, on this subject, but an echo of the
latter, and does but repeat and revive, at second hand,
all hie stale and worn-out invectives against small notes,
and credit, and paper currency—we gay, if such malignant
alarmists as these shall succeed in inciting the whole mer-
cantile world, as with one accord, to call in every shilling
of their money at any particular moment, it is obvious that
no bank, however solvent, could be prepared with re-
sources to meet such a demand. A banker may have
the means of doubly satisfying any calls that may be
made upon him, but lie still cannot, from the very
nature of his business, have a sum adequate to this
exigency forthcoming on the instant. We all know that
an individual with ten thousand pounds of property
out on mortgage, and ten thousand pounds more in the
funds, may be unable to satisfy upon the spot an un-
expected "demand of one thousand pounds. yet would any
man of common sense hare any fear for the safety of his
claim because the means of discharging were not inimediate/y
available? What man—except from malicious or interested
motives—would endeavour to depreciate the credit of such
an individual? What but such motives then could induce
any one to endeavour to occasion a run upon public hankers,
for the purpose of "patting their real funds to the
What can justify any Journal which has the power of work-
ing insidiously upon the public mind, and operating on
its fears to a fatal extent ;—what, we ask, can justify it
in misleading its readers as to the true principles upon
which public business is conducted, and the true basis upon
which all credit rests, and influencing them to act, from
causeless apprehension, in a manner fatal both to the public
interest and their own? But as the Times has chosen to
fight under Mr. CORBETT'S banners, its proceeding is quite
in character.

We had intended to investi;ate the causes which have
!ed to the present state of commercial credit, but the length
of our present article obliges us to postpone this inquiry
till our next.

CITY, THURSDAY EVENING.

Consols opened at 84, but they afterwards declined to
831 1, in consequence of the failure of the banking esta-
lblishment of Wentworth and Chaloner, at York. This
bank was much connected with the manufacturing interest
in the north. It had branches at Bradford and Wakefield,
and an establishment in Threadneedle-street, on which it
drew. It is feared that the stoppage of its payments will
cause great inconvenience in the West Riding of Yorkshire.
Another country bank was also reported to have suspended
payment, but it was a house of very limited transactions.
In consequence of the difficulties of the York Bank the
state of alarm that has generally prevailed of late increased
this morning, and some very extensive tales took place in
the British Funds. The result was, that Consols closed at
831 /, Exchequer Bills were 11s. 17s. 14s. discount.
In the Foreign Market the transactions were not nume-
rous, and prices were rather more depressed, particularly in
South American Securities ; Colombian Bonds being at
61k, and Mexican Six per Cents. at 631 4; Greek Bonds
were 17 19, and Spanish ditto 1.5 to
There was a little more elasticity in the Sugar Market
than there has been of Ixte. The quotations of Coffee,,
however, were nominal, there being no public sale.
The eseenots from *e manufacturing districts are fa-
vourable ; the working „classes are in full employment;
and cotton having settled at the late reduction, there is now
a !kir demand for cotton wool.

The Moniteur contains an account of the labours rela-
tive to the liquidation of the indemnity of the emigrants.
The following was their state on the Ist instant :-13,013
demands had been addressed by the Prefects of the Depart-
ments to the Directors of the Domains ; 10,891 bordcreaur
had been drawn up by the Directors of the Domains;
5,533 demands had reached the Minister of the Finances ;
1,891 affairs had been transmitted to the commission;
1,512 claims, amounting to 69,089,926 fr. 93c. had been
decided ; 1,306 decisions bad been notified to the parties
interested ; and 642 incriptions bad been made upon the ,
Great Book, for the sum in capital of 33,142,3771'. 93c.
We have received Brussels papers to the 7th had. The
Rector of the parishes of St. Nicholas and Notre Dame
has been sun-mimed before one of the Judges for a sermon
which he preached. It is said the Hungarian Diet will
address a second resolution to the Emperor of Austria, in
which the facts that induced Lim to remonstrate against
the levy of troops, and some acts of the Imperial Commis-
sioners in Hungary, will be more fully developed.
Letters were yesterday received from Missolonghi of the
16th, and from Zante of the 26th October. They con-
tradict all intelligence of surrender to the Turks. The
squadron from Egypt had not appeared on that coast.
Tea TURCO-EGYFTIAN EXPEDITION.—The Austrian
Observer, of the 27th ultimo, describes the expedition sent
against the Greeks, under the command of the Capitan
Pacha, which left Alexandria oa the 17th October, to be
very formidable, and to have consisted of the following
ships :—One ship of the hue cut down; 20 frigates and
corvettes; one steam-boat with three guns, bought in Eng-
land for the Pacha of Egypt, and manned by English; 10
fire-ships which have been built here; and seventy-nine
transports.
Trig DIET.—The Brussels papers contain
a notice of the affairs of the Diet of Hungary, calculated
to attract some attention. It appears that this Diet, which
was opened with so much pomp, instead of proceeding with
the expedition which the Emperor required of them to the
vote of supplies, began to discuss the infringements which
they conceived had been made upon their const;tutional
rights, and embodied the substance of their complaints in
an Address to the Emperor: The Emperor made to
this Address an angry, and rather threatening answer,
especially recommending to them to proceed to grant
the supplies which he required. It appears that this
answer has been followed by a second resolution of the Diet,
not granting the supplies, but expounding more fully the
grounds upon which they had urged their first complaint.
As Hungary was supposed to be one of the parts of the
Austrian Empire most attached to the Sovereigns, their pro-
ceedings have given rise to many speculations in Germany. It
can hardly be supposed that people so well hemmed in and
protected as the Hungarians, can be infected with the
love of constitutions which Prince Metternich considers so
pernicious. Their grievances are, no doubt, of a practical
kind, and the Diet is so aristocratical in its formation, that
they probably affect chiefly the Nobles. The levy of troops
seems to be one of the grievances, but whether it be the
manner or the substance of the measure complained of,
does not appear.
The Boston Papers received yesterday contain an ac-
count of a great fire in that city, which destroyed from fif-
teen to twenty houses, and property to the value of from
75 to 100,000 dollars. Au article from Mexico, of the
12th of September, states, that nothing new bad occurred
in that Republic, but every thing was very tranquil, and
preparations were making for celebrating the anniversary
of Mexican independence on the 16th of that month.
A church belLof steel has been made in Cincinnatti. It
is in the form of a three aided pyramid, the mouth being
triangular; it is supposed to be an improvement on com-
mon bells, both in shape and material—New York Paper.
On the 3d the earth suddenly opened in the plain of
Leyden, and a house was swallowed. Efforts were home-
diately made to save the inhabitants; in the night three
men were extracted, two of them slightly wounded ; the
other, a very old man, has his arm fractured.—Brursela
Pups-T., D. c. 6.