The British Press; or, Morning Literary Advertiser.
London, England, 1826-07-12 00:00:00

THE BRITISH PRESS•

Revolutionists, and all oiler enoordoo of the Slate s of which I ac-
quaint you, Sir, that you may comimmicale it to the merchants-
BARCICLOINA, JVsw 28.
The following vessels of the Royal Navy have lately soiled from
the Bay of Cadiz, to cruise on our coasts, and protect our merchant-
men against the Colombians and the Algerines t--Jason, brlg,
Francis Sevella ; Jacinto, brig, Christopher Maslen; Diligent,
brig, Francis Aguirre; Andalos, schooner, M. Rolden.
PARIS, JuLT 9.
The Perseverance, steam-boat, on board of which Lord Cecil.
rant is going from London to Malta and the lonian Islands, was
obliged to put into Almeira, on the 11th June, because the crew
were disorderly.
*A letter from Geneva announces that the chateau of Cophet,
which the Duke de Drogli was having put in order to receive the
Duke of Orleans, has been destroyed by fire.

The Liverpool Albion of Monday asserts, that the quan-
tity of British manufactures shipped at that port fur the
Mediterranean is greater up to the present period in this
year than the quantity exported in the same period during
the last three years. This may be considered as a very
extraordinary fact, and one for which it is not by any
means easy to account. Liverpool is necessarily the great
mart for the exports of our manufacturing districts, and it
could scarcely have been supposed that an actual increase
had taken place in so important a branch of our trade.
The fact is, that the trade to the Mediterranean was one of
those branches on which no extraordinary expectations as
to the extent of the market had ever been entertained, and
the market was not therefore at any time overstocked with
our productions. This is the true secret of the steadiness
which is observable in the trade to that crarter.

We are led again and again to return to the subject of
the distress in the country, in the hope that, by our perti-
nacity in exhibiting our views, we may be able to induce
some persons to think on the sulject. The principle which
we stated yesterday we would repeat to-day—that all less
necessary commodities on which labour is employed, derive
their value from, and have that value increased by, the
abundance of necessaries. This proposition is so clearly
demonstrable, that its truth is almost obvious from its first
enunciation ; and it seems extraordinary that the conse-
quences resulting from it have been so little attended to,
It is certain that a man possessed of jewels and ornaments
to any amount, if he could not procure any other covering,
would give all those jewels and ornaments for a piece of
cotton; and it is certain that the piece of cotton itself
would be sacrificed if food could not be otherwise procured.
In proportion as necessaries abound above the demand for
them, in the same proportion precisely will a new demand
be created for less necessary objects; and as prices increase
in proportion to the demand, the value of superfluities
must increase precisely in proportion to the abundance of
necessaries. This has been frequently observed in
particular instances; but, from the intervention of money
in all cases of sales, reasoners have generally stopped
short at the medium of barter, and instead of con-
sidering all commodities as mutually exchangeable, and
calculating their respective values from their relative abun-
dance and utility, they have compared all commodities
with currency, and have given an undue importance, in
consequence, to an increase in the circulating medium.
Now, it is certain that the over-production of any one com-
modity, even of corn itself, will increase the price of all
other commodities, while it lessens its own value, and will
therefore cause misery among the producers of that com-
modity; but from the principle of political economy, by
which it is asserted that poolation increases in the same
ratio as the means of subsistence, it is clear that the over-
production of necessaries is less detrimental, in the long run,
than that of any other commodities. In our political sys-
tem, instead of the excess falling on our agriculture, it has
taken place in our manufactures, and the over-production
of manufactured articles has raised the value of agricultu-
ral produce, as compared with it, to an extreme degree ;
whereas, if the agricultural production hail kept pace with
the manufacturing, the relative proportions between the
two would have been preserved—we should have had an ex-
cess of both to export, and even if we had not found a mar-
ket abroad, no misery would have ensued, because all com-
modities would have existed at home in equal abundance.
The great object of the Legislature now ought therefore to
be, to increase the proportion of necessaries by all the
means in their power, whether by permitting the impor-
tation of corn in the mean time, or by contriving such en-
actments as may tend to throw a greater proportion of the
energies of the country into the agricultural department,
and by directing these energies to the production of neces-
Vries in the first place. The social system, in this respect,
requires a balance as equally poised as that of the plane-
tary system ; and a single excess of one article, beyond the
due proportion which ought to be assigned to it on account
of its utility, never fails to cause calamities among those
who produce it. It is not so much the absolute quantity
of commodities manufactured that must be considered, as
the relative quantity of one species of commodity in pro-
portion to another. hence the great aim of the Statesman
ought to be, to assign its proper degree of encouragement
to every article of produce, and to take care that no part
v exceed its natural limits.

CITY. TUESDAY EVZNING.

The same dull monotony exists as to the movements in
the Money Market as yesterday, buyers for the Account
look at 781, and there were sellers for August at 78i.
Holders for the Account were in extacy at the idea of 74,
but the want of money in the market has tended to defeat
even that rise. There was a plentiful supply of Exchequer
Bills in the market to-day, and although they were not
brought in by the same parties as on previous days, there
is little doubt but that they came from the fountain-head.
The Foreign Stocks are stationary, and the Course of Ex-
changes do not vary from last quotations, and transactions
in these quarters are of a very &mite(' nature.
By Lloyd's List, it will be seen that serious acts of
piracy have been committed by Greek vessels on those of
England; two letters having been received from the agent
at Smyrna, announcing the Wundering of the Volusia,
British merchantman, and two other vessels,. by Greek
pirates, of goods to the value of 18,000'. sterling ; and that
in consequence it had been rendered necessary to appoint
convoys, in the best way which the limited means at the
disposition of,the naval officer on the station enabled him
to suggest.
It will be quite necessary to have a force sufficient fur
the protection of our trade in these seas. Piracy has
always been the consequence of a naval force not properly
organized ; such was the case with the South Americans,
but they gained their independence ; and we trust that
England may be permitted to protect her trade, without
fear of incurring the jealousy of surrounding States, even
in the Archipelago itself.

. _
M. Bellart, Procureur-General, shied at Paris, after an
iilnvss of 63 days, and an almost continual delirium. It
is said that his illness was caused by the chagrin occa-
sioned by some trials, end pa►tly by the speech of the
Bishop of Herinopolis, respecting the Jesuits, M. BeHart
having denied the existence of any such class of persons.