The British Press; or, Morning Literary Advertiser.
London, England, 1826-08-11 00:00:00

THE BRITISH PRESS. '

ballast, arrived in the port of Archangel, in the course of the i
month of May ; the value of the goods imported by the six others
was 121.390 rubles ; Russian goods eapoeted 397,177 rubles. The
magnificent gardens of Count Resbanalko have this year become a
public promenade, bunks to the noble hosni li iy of the owner ;
they attract every day, but. especially on Sunday. crowds of com-
pany who find all the pleasures of a public promenad.,, t.uch as
music, swings, bowls, coffee, dec., and above at the advantages of
shade and coolness, without the inconvenience of the dust raisrd by
the carriages; and as the garden lies pretty hlgh we do not kel the
dampness of the evening, so generally felt in the isles of the Neva.

04).ESSA, JIILY

Last Friday, Count Wittgenstein, Commander-in-Chief of the
Second Army, arrived here, to inspect the garrison, and left us
the next day.
The number of wrangers who come here for the benefit of sea.
bathing, increases daily.
Al'heat of the first quality has bun at twelve ruffles per chetwert,
but the news from France arid Italy not being decidedly favour.
able to the corn trade, the price is now only eleven rubles. Eight
thousand chetwerrs of soft wheat have been sold in the week to Irth
July. at from seven to twelve rubles.
JULY. 21.—The Journal contains only a few promotions and
appointments.—Jourrial de Si. Psilarratorrer to the 25th of July,
inclusive.

In conformity with our genetal practice, we did not give
the former part of the case on the Oxford Circuit, involving
a question of libel of great interest, because it was entirely
rx-part+. The evidence on both sides is now gone through,
and we publish the whole of it to-day. The length of
this report, although sill without the summing up of the
Learned Judge, will prevent the insertion of many articles
that we greatly lament cannot appear this morning.

The public public attention canoes at *is moment be too often
or too earnestly directed towatds the jproccedings of the
various Associations which have unhappily, for the last
year and a half, been formed in this country, under the
name of Joint-stock Companies. At a time when distress
is paralysing all branches of industry, it is wise scrupu-
lously to watch the operations of the commercial world, in
order if possible to detect any latent cause that might
contribute to that distress, so that it may serve as a lesson
of experience that shall prevent the recurrence of similar
disasters in future. We have on no occasion passed an
indiscriminate ensure on all Joint-stock Associations, be-
cause it is known that works of magnitude and of extensive
public utility have been, and could only have been, the
result of the concentrated power afforded by the combina-
tion of capital and of talent. Individual energy, however
enterprising, is not adequate to a large and comprehensive
undertaking. Several of the objects proposed to be effected
by many of the Companies that have been lately formed
are of unquestionable utility, and such as could not hy pos-
sibility be attained by any other means than the united ex-
ertions of men of property. But the majority of the
schemes have, it is well known, been broached by mere de-
signing men, who, seeing the fatuity of the people in their
blind rags• for speculation, took advantage of it, and, by
projects the most monstrous. c intrived to get suddenly rich ;
while thousands of dupes found that their cupidity had
betrayed them to ruin. The exposures which have fol-
lowed the breaking up of many of these vile wholesale plun-
dering•, have caused such a revulsion in the public
opinion with regard to Joint-stock Companies of every
kind, that the consequence has been, that those of the
most indisputable character, and accompanied by every
circumstance that could recommend them, are looked at
with swpicion and are ultimately abandoned. The pro-
ceedings of the Cantwell and Devonshire Mining Com-
party, and of the London Northern Rail-road Company,
illustrate the foregoing observations. Whatever may
be 'the tendency of the former as to benefiting the public,
it certainly stands p. ominently forward as a specimen of
the tricks and contrivances resorted to in the concoction of
these speculating adventures. The statemnt made the
other day at a public meeting of the shareholders, as to
the sale of a mine for 30,000/., which three months before
had been valued by two competent surveyors at 3,000 e,
and actually purchased for that sum by an individual who
is now a Director of the very Cumllanf thattras charged
the above enormous price for it; this, with other facts
alleged at the meeting, exhibit, if true, as bold and infa-
mous a method of " raising the wind" as was ever practised.
It is said that an action has been brought against
the author of that statement, it being described by the
person whose character it affects, as " a gross falsehood
and a deliberree and malicious invention." We are glad
of this, for all we want is that the truth should be elicited.
If delinquency be proved, this case will serve as a beacon
to warts all thoughtless people how they in future disp tse
of their money ; and will show them the necessity of
having a moral as well as a legal security for their deposits,
in the characters of the persons to whom they are en-
trusted. If, on tie contrary, the falsehood of the state-
ment be satisfactorily shown, our indignation will be di-
rected against that class of busy meddlers, who by their
connexion and interference throw discredit upon the most'
pure and honourable transactions. For the sake of several
persons connected with the direction of this Company,
whose names have hitherto been distinguished for every
thing that is honourable, we trust the result will prove
the charges to be unfounded. But, look at the conse-
quences of these things. Perhaps there cannot be a more
legitimate object for a Joint-stock Company than the for-
mation of Rail-roads. The benefits which would result
to the country at large from such works arc incalculable.
Intercommunication is perhaps as far behind the intellect
of the age as any one thing that can be mentioned. To
facilitate the conveyance of those bulky articles which form
the first necessaries of civilized life, from one remote part of
the kingdom to the other, may well be termed a great na-
tional object. Such, then,was what the projectors of the Lon-
don Northern Rail-road Company propos:d to accomplish;
but they have failed in the attempt. And why ? Not because
it is a visionaty and impracticable scheme, or that it does
not offer a remuneration to those who undertook it, hut
because the faith of the public has been shaken in every
species of co-operation, where such Foote as Directors and
Secretaries are employ. d, and have the power to make
" IVe refer our readers to the Report of the pro-
ceedings of this Company yesterday, particularly to the
statement made by Mr. Warame, an intelligent banker
from Nottingham, by which will lie seen how indiscrimi-
nately the public take up and abandon all sorts of projects.

CITY, THURSDAY EVENING.
The various reports promulgated yesterday as to Con.
gresces ruptures, armaments for the protection of Portugal
under iter new Charter, &c. have been resumed this morn-
ing, and the consequence has been that Consols, during
the day, went down to 78. • at the close of the market
they had recovered only I, leaving off at 74. The whole
of these gratuitous pieces of information ere evidently
ushered forth for the purpose of depression, and certainly
have had the desired effect. At the same time, the day s
business has not been one of any importance.
The Foreign Market not produced any novelty.
The non-acceptance of the bills drawn by the Mexican Go-
vernment on the parties to the Loan, has had the effect of
forcing those Bonds in the progress of the market down to
b 0: at the close, however, they had undergone a re-
action, and closed at 51. Colombian also declined to 33?!.
An express from Paris states the price of the 5 per Cents.
at 10.1 f. 5c., and the 3 per Cents. at 65f. 40c.
There has been a great stroke of business ,one in the
Brazilian Shares, which retrograded to 14, and Fluidly left
off at 17 premium. Tlalpuxahua were done at all prices,
from 35 to 45 premium, finally closing at 40. There tl, 's
not appear any reason for these violent transitions beyeutl
the whim of the speculator.
In Mincing-lane there have been some considerable
sales of Sugar to-day, at prices, if not superior, at least
I equal to the last market, and suclt as, upon the whole,
give demonstration of the steady improvement of the
Colouial trade.

The Colombian privateers swarm on the coast of Spain.
Letters from Coiunna,
received yestertlay morning, state
that two were off that port. '1 hey had captured five
merchantmen, and were reported to pay no respect to any
flag. Three vessels were captured off Gijon; and the
Republicans privateer had sent three valuable prizes into
Gibraltar, between the 15th and 22(1 of July.
At:o. o,—Our Cotton Market hes not been
so animated this week as last; about .5,000 bales sold at
tolerably steady prices.

•
erti7?4;4=-4--A=i-- INT 1;0°1
- _ _ • k

MOVEMENTS.
The Duke of Roland liu left Belvoir Caa Dior Longshew
'lou se, near Sheffiell.

Lord and Lode Dude and family have left town, for their seat,
Wootlchenter Park, filmtceweraltire.
Lord St. Ibises left town yesterday, for the Rlyal Lodge,

Lady Lismore and family arrived yesterday at the London Hotel,
Albemarle-street, from a tour.
The lion. Thotnas Grenville has left Glastonbury, for South
Wales.

Sir Thomas and Lady Barker arrived yesterday at Gould'a
Hotel;Armyn.toreet. trom Worthing.
Sir James Hope, Bart. has lest town, for Tunbridge M'ells.
Lady Smith 101 town yesterday, for the Dowager Countess of
Galloway's neat, in Yorkshire.
General Ord has kft his Peat in Hants. for Brighton.
Captain Heatheote left town yesterday, for Cheltenham.
Captain Hay left Holme's Hrtel, Parliament-strert, yesterday,
for Scotland.

Captain Wood left Fenton's New Hotel, St. Jamen'ti-street, yes-
lenity, for Brighton.
11. Willoughby, H.q. has left his seat in Notts, for the Cliff',
Searbomugh, VorkAire.
Stratford Beat, Esq.. left Long's Bond-street, yesterday,
to jot,, his reg.:47l.m, the B'h Dragoon*, at Brighton.
:Amite! Smith, Em., M.P., and family, have left town, for their
seat,. Wood-hall-park, Herm
Ms. and Mrs. Oeorge [lynx leA town yesterday, for their seat,
Wtothawn Park, near Barnet.
Mr. and Mrs. C. K. Trite arrived yesterday at their house in
Lower Hrosvenor-street, from a tour.
Arrivals at the Royal Ho, St. James'a-streett—F. S. Welder.
hurt* Eno., from scotland ; J. A. Stewart, Esq., from ditto;
0. Stewart, E.g. from ditto; C. L. Walker, Esq., from Bristol:
Sir J. 'Frontier, from a tour; and J. Sparks, Eng., from Cnb.
ham. Departures:—The Hun. T. Fienneit, for Belvidere; J.
Page, Esq. for Holly-hill; and Sir W. Borrowes, 011 a tour.