The British Press; or, Morning Literary Advertiser.
London, England, 1825-12-22 00:00:00

THE BRITISH PRESS.

notified to him from his Curt, and great surprise has na-
turally been excited at the silence observed towards him.

In the state of entire ignorance in which we are with
regard to what has taken place in Russia, it is quite prema,
ture to speculate on the probable conserplences of the ac-
cession of CONSTANTINE. He is known to be a great
favourite with the military, and is himself an excellent
soldier. His habits have been disciplined by actual service.
In a despotic empire like that of Russia the only great
changes are those which occur in the person of its ruler.
His character may therefore be said to control the destiny
of his people. Corral-arm NEisof an irregular and im-
petuous disposition, -without any fixed principles moral or
religious. What course of policy he may be inclined to pur-
sue, or what influence his policy--whatever it may be—may
exercise over the general politics of Europe, time alone
can develope. He is friendly to the Greeks, and it is by
no means improbable that he may be disposed to signalise
the commencement of his reign by crossing the Pruth
with the fine army now collected on its banks. The Teaks
have furnished him with as good a pretext for war as he
can desire, by their refusal to evacuate the Principalities
of Wallachia and Moldavia. No measure would render
him more popular with his subjects, whose feelings in fa-
vour of the Greeks were painfully repressed by ALE XAN-
DL R. The very name that Co NSTA N TINE bears was given
to him by his grandmother, the Empress CAT II ARIN
with reference to her project of re-astablishing in his per-
son, at Constantinople, the Empire of the West. In his
youth a medal was struck, inscribed to " Constantine,
Kirg of the Greeks." He has always cherished the hope
of accomplishing this design, and now that he is suddenly
invested with power to gratify his ambition, he will hardly
be induced, from any purely political considerations, to
forego the dearest object of his desires. He is too untamed
to be yoked to the car of the holy Alliance. He is far
better skilled in the use of the sword than in the study of
the law of nations, and will naturaily be inclined to settle
any difference with regard to the latter by an appeal to the
former.

The French Funds were considerably depressed on
Monday, in consequence of the apprehensions arising from
the acciwrion of the Emperor CONSTANTINS. We sub-
join the quotations of that day :
' Far xcm Ft: wns.—PAars, DEC. 19.—Five per Cei ts. 94f. 30e. ;
Thee per Cents. 60f. Sac. ; Bank Stock 2050 f ; Roves de Naples
Certif. Falconnet 74f. bc. ; Royal Spanish Loan, ♦tt4f. ; Ex-
change on London—Ones Month. 2.5 f. 425c..—Coars Asitlantique.

The Madrid Gazette of the Sth inst. contains a long ar-
ticle, purporting to consist of news from different parts of
America. This intelligence is of precisely the same cha-
racter that we used to receive through that most veracious
of all official Journals, during the late campaign in Peru.
BOLIVAR is represented as a furious and sanguinary tyrant,
oppressing and plundering the people, who arc universally,
we are told, " strongly in favour of the King of SPAIN."
Or.wwria, it is affirmed, maintains his ground in Upper
Peru, and holds his head-quarters at La Pax, where Bo-
stvatt is afraid of attacking him, knowing he woUltl not
be successful, and finally the Gazetteer asserts that the
Mexican federation is dissolving, and the states declaring
them selves independent of each other. Why falsehoods of this
gross and palpable description should:hepublishrd, it seems
difficult to guess. In every p►rte( Eurepe to which intelli-
gence arrives direct from Seeth America, the attempted fraud
will be instantly detected, and• even in the Peninsula credit
can only be gained for a few weeks at the expense of losing
it for ever afterwards. Though there ettia,aplil fiery
cently some 'doubt with regard to the filirer.Gerteral
OLA N LTA there can be none now. The declaration of in-
dependence by the States of Upper Peru proves, shat the
royalist force in that quarter, under °LANE /A, MINI by
some means have been completely annihilated.

The leading article in the Times of yesterday, on the
subject of the BAS PC, is written exactly in the style of one
who is at a loss what to say, and yet feels that he must say
something. Its laboured attempts to depreciate the charac-
ter of the Bank Directors having totally failed of their
iffeet, and the pecuniary difficulties which had for a while
suspended public credit becoming every day lighter, the
public are now told, by way of accounting for th isfa vourable
change—not that it arises—as the truth is—from the rapid
restoration of public confidence, but that " those difficulties
are the less oppressive, because they are langer borne with-
out any diminution of the strength of those who hear Mew,
and much more adroitness in shifting the burden from
this weak part and that galled teat to a new position."—
Nothing is so difficult to deal with in the way of reasoning
as sheer nonsense. It is a new doctrine of political philo-
sophy which teaches us, that " difficulties are the Less
oppressive the longer they are borne with." It must no
doubt he pleasing to invalids to learn that they gather
strength the longer their weakness continues, and that they
may recover the soundness of their "galled seat" by shift-
ing it to a " new position ;" but he that can discover what
this metaphor from Apothecaries' Hall has to do with
the Bank of England, has a fair claim to the praise of
sagacity.
The Mint yesterday delivered seven hundred thousand
sovereigns to the Bank of England. It has not less
than ten presses at work in augmenting the supply of
specie. This well-apring of abundance places the Times
journalist in a sad dilemma. Having been the first that
spread a report throughout the kingdom that the Bank was
involved in embarrassments—and having generated every
where a dread that it was about to " stop payment"—it
proceeded next to hint pretty broadly that it would speedily
be reduced to the necessity of applying for an authority to
suspend cash payments. " But as fur relief from the King's
Government"—said this sage journal, with an air of autho-
rity that would lead us to suppose the Privy Council were
actually sitting in Printing-Horse-square—" As for any
relief from the Kiso's Government, we can tell the spe-
culating people, and their great foster-mother, in Thread-
needle-street, that they will meet with none—no, not a
particle--of the species of relief which they look for."
After having circulated its malicious insinuations so effec-
tively as to cause the utmost agitation and alarm—aster
embittering, to the utmost of its means, the pressure of
commercial distress, and hearing the curse of indignation
loud against it in all quarters, the incendiary comes coolly
forward from behind the scenes, and with an affected sim-
plicity asks—"lVla is it that accuses the Times of having
propagated unjustifiable fears for public credit ?" Now
that all alarm has subsided, and this journalist finds all his
malignity neutralised, he takes new ground ; or, to use his
own elegant metaphor, " he shifts his galled seat to a new
position," and represents the Bank of England and ?,im-
self as joint-proprietors of a common stock of wisdom, the
Company, however, acting—as no doubt was proper—
with due deference to him, as supreme adviser. The lan-
guage of the Times on Monday was—

" We really do not know under what state or condition
of public credit we this day address the conntry. Dark
rumowa and Udine swpictons have certainly been in cir-
culation, that the Bank of England would suspend its

cash payments, ender a Council Order of course; and if
such should prove to be the case, the portentous measure
may, perhaps, be announced or made known in the city
about the time that the reader takes into his hand to peruse
these our statements on Me subject."
But the fact having been thus assumed for the purpose
of exciting all that dismay to which it might he supposed to
lead, and the affluent and .rapid supply of specie having
proved this malignant rumour of the suspension of cash
payments to be totally unfounded, the limes turns short
round, as if it were Chief Counsellor of the Corporation,
and exclaims " The course which we argued that the
8.3 x 1 ought not to take, it has not taken—it has not called
for a legal authorization of the suspension of cash pay-
ments; and, therefore, so far the BAN K and we are
agreed." Prodigious ! But what may we be permitted
to ask is here meant by the Bank not having " called for
a legal authorization of the inspensism of cash payments?"
ff this information is at all intelligible, the public must
infer from it that the Bank has suspended it■ payments
in specie, but has " not called for a legal author;zatiun"
of the measure !

Such confused jargon as Ibis is not pardonable. A journal
should at least enable its readers to understand what it says,
although, when understood, it may be worth nothing.

CITY, WEDIJESD•T EVEXTNO.

One of those re-actions took place on the Stock Ex-
changes this morning, against which we have felt it our
duty sines the decline of the panic constantly to warn the
public, because we were confident that repeated fluctuations
must follow the transactions of last week. The distress in
the country, resulting from the agitated state of public
credit in the metropolis, could not pass over like a sum-
mer's cloud, and we have lost no opportunity in impressing
this truth upon our readers, so as to guard, as far as we
could, against even the possibility of misapprehension. Of
this we are certain, that die depression in the latter part of
the day was merely dte consequence of the causes to
which we have above referred, and not originating in any
new circumstances connected with the state of public cre-
dit, either in London or the country. Indeed we are in-
clined to believe that the price of stock:: will even be lower
in January than at present. Many concomitant circum-
stances will lead to that decline, which may be considered
as the effect of recent events; but this does not in the
slightest degree alter or affect our general position, that the
panic is completely over, notwithstanding the malignant
but abortive endeavours of the alarmist press to keep it
alive.

This was a holyday at the Bank, but bargains were done
in Reduced Annuities for to-morrow at 79i 81. Consols
fluctuated between fifil and 8011, and considerable busi-
ness was doing in them. The decline of securities in the
middle of the day was accounted for in various ways by
different persons, according to their various interestP, but
we are satisfied ourselves that it was produced by opera-
tions connected with the late alarm, and we anticipate si-
milar depressions and fluctuations for a length of time.
The Exchequer Bill market was much relieved to-day,
and Bills rose to 28s. 20s. dis.

A great deal of business was transacted in the foreign
market during the morning, and the securities in it were
generally lower, particularly those connected with South
America. Colombian Bonds were 514; Mexican 6 per
Cents 60 ; Greek Bonds 16 13 ; Spanish ditto 13 to 4 ;
Danish ditto 58, and Russian Bonds 80 791.
We are sorry to find that the banking-house of Ca-
renagli and Co. of Bath, a branch of which was established
at Bristol, has been, in consequence of a severe run upon
it, compelled to suspend its payments. This circumstance
probably, with reports of a similar nature respecting other
establishments, bad a alight tendency to depress the Funds.

CONSULTATIONS OF XIS MAJESTYS
MINISTERS.

The members of hi' Majesty's Government continue
very active and indefatigable in their attention to the pre-
sent extraordinary state of the country, particularly those
at the head of the financial department, and at the
head of what is called the Home or Internal Departmet.t.
The whole of the Cabinet Ministers are now in Landon or
its environs, with the exception of the Earl of Westmore-
laiul and Earl Bathurst.

'f be Earl of Liverpool and the Chanceller of the Exche-
quer wire very closely engaged on Tuesday, except during
the short time they were in attendance upon the King at
hie Court ; they both left the Palace at the close of the
Privy Council, as soon as the Proclamation was agreed upon
for the assembling of Parliament for the despatch of busi-
ness, not waiting to hear the Recorder of London's Report,
as is customary. The Noble Earl afterwards received the
Governor and some of the Directors of the Bank of Eng-
land, and other gentlemen, at his house in Whitehall,
where they continued in deliberation till past ten o'clock.
The Chancellor of the Exchequer assisted at the delibera-
tion from five till half-past six o'clock.
The Chancellor of the Exchequer returned to town yes-
terday morning, from Charlton, having left London late
the preceding evening. 'fhe Right Honourable Gentle-
man resumed the communications and deliberations with
the Earl of Liverpool during yesterday, as well as with
most of the other Cabinet Ministers.

In the course of the day there were frequent commu-
nications by letters between the Earl of Liverpool and the
Governor of the Bank.

At a quarter before four o'clock the Earl of Liver-
pool left his house in Whitehall, in his travelling
chariot, for his seat at Coombe Wood.

Yesterday afternoon, Mr. Rothschild proceeded to
the Earl of Liverpool's house in Whitehall, for the pur-
-1 pose of obtaining an interview with the Noble Earl, but he
arrived at his Lordship's house a few minutes after the
Noble Earl had left town ; Mr. Rothschild then waited
upon the Right Honourable C. Arbuthnot, and afterwards
proceeded to the Treasury, where he remained near an
hour, transacting business.
Mr. Secretary Peel transacted business at a late hour
last evening at the Home Office.
Tuesday evening Mr. Secretary Peel dined with the
Duke of Wellington and a select party.
The Duke of Devonslatidined with Mr. Wilmot Hor-
ton on Monday evening. .
Tuesday evening the Portuguese Ambassador transacted
business at the Foreign Office for a coneiderahle time.
The Govtrnor, Deputy-Governor, and Directors of the
I Bank, have been indefatigable in their attendance. They
have for many days past arrived at the Bank (some of
them) as early as nine in the morning, and some have re-
mainad u late as nine at night. They continue to give
every facility to money negotiations. Transfers of three
and three and a half per cent. stock were made yesterday,
although a holytlay at the Bank.
GOLD COI N.—The present anxiety for the obtaining of
gold would appear strange to some of our remote ancestors:
for when Henry 111 first issued gold coins the people re-
fused to give them currency. A precept was therefore di-
rected to the Mayor and Sheriffs to enforce their circulation ;
but the citizens making a representation against this kind
of money, a proclamation was published by the King, de-
claring that they were only to be taken at the option of
the receiver, and that holders of them should r, give
the full value from the TreasuryZeleducting the charges of
coinage.

There is one cause-not commonly adverted to that is
now actively at work to 'procuring the transmission of
bullion to this countryt'': The very high rate of interest
obtainable here, and the great prospective advantages
from the emplovrocut of ready money, induce those great
capitalists who have property at their disposal in foreign
countries, to cause it to be conveyed hither in the speedicat
manner, the inducement being not the state of the ex-
change merely, but the advantages in the employment of
money here.

A letter from Philadelphia states, that a merchant there
who owned six ships in the Canton trade had just failed.

FASIIIONANLE INTELLIGENCE.

The l'ilarquis and Marchioness of Clanricarde left the Clarendon
Hotel, Bond-street, yeatertlay,for their new residence in St. James's-
square.
. . .

Sir George Robinson, Bart. left town yesterday, for North-
an!ptoo... - _ .

Lord Muncaater left town yesterdsy, for Mellon Mowbray.
The Earl and Countess of Bradford have left Wiston.hall for
their scat, Castle Bromwich, Birmingham.
The Hon. Agar and Lady Ellis have left Roehampton for the
Earl of Essex's sea, Cashiobory Park. Herts.
Departures from Kirkham's Hotel, Lower Brook•street :_Lord
Lilford, for his seat iu Northamptonshire; and J. Montague, Esq.
for Scotland.
Wm. &ornatell, Esq. has left the St. George's Hotel, Albe-
marle-street, for his seat, near Colchester.
Sir Charles and Lady Long have left town fur the Countess of
Bridgewater's seat, A abridge, Herts.
Lord Sondes has left Gordon's Hotel, Albemarle.street, for his
seat in Kent.

Captain Matson arrived yesterday at the Waterloo Hotel, Jer-
myn.street, from Brighton.
Lord Althorp has left the 31arquis of Tairistock'a seat, in Bed-
fordshire, for :\ orthamotonahire.
Departures from the British Hotel :—Mr. and Mrs. Painter, fur
Bath; Captain Stuart, for Brighton; William Stanley, Esq. for
Melton Mow/bray.
The Earl of Mexborough has arrived at his seat, Metchley Park,
Yorkshire, from a tour.