The British Press; or, Morning Literary Advertiser.
London, England, 1826-10-21 00:00:00

TO CORTIFSPONDE3iTS.

Yia apprehend there wa; SOW; mistake fn ease of" Philomason."
Mere advertisements are r.ot within the eognizaam of an Editor,
ti..:ess under peculisr circumstances.

The BRITISH PRRS3 commenced publishing yesterday
moming at five o'clock.

LONDON, SATURDAY, OCTODEft 21, 1526.

NS e have received the French Papers of iVednesday, and
Etude dated Thursday. They contain nothing inte-
restir.g.

F aeacu FL !I ns.—Ftve per Cents, 103 f. 90c.; Three per Cents,
COe.; Reines de Naples, 74f. 26e.

The Leeds Intelligeneer says—" We have the authority
c one of the most respectable cloth merchants and menu-
L.:lnters in this town, for stating, that now, and indeed
t•'• ce the adoption of the reciprocity system, most of the
tpuers fur woollens, from the Continent, are accompanied
1 stipulations that they shall be shipped in foreign vessels,
cn account of the lower rates of freightage. Articles
brought here froim the Continent, for the same reason, are
preferred in foreign bottoms." This is one of those pars-
g,apes which are inserted by the advocates of restriction,
w:thout any very definite view of the object which they
I,:einse to themselves from their insertion. The conclusion
v.: izh any rational man would draw from such a paragraph
acid be, that foreigners have formed very confused and
runeous ideas of the change which hes been made in our
(srmercial polity, that they have been induced by it to
speculate beyond what is proper in their circumstances,
and that there is consequently a very great probability of a
:.needy revulsion in those countries which have been mis-
led by fallacious ideas of that sort. It' foreign merchants
lisse made such stipulations with their correspondents in
Logland, in consequence of the reciprocity system, the
foreign merchants who made these stipulations must have
been extremely ignorant of the former state of our com-
rrercial regulations, if they supposed that there was any
restrietion laid on the exportation of woollens to the Conti-
nent in foreign vessels, before the late reciprocity system
took place. All the arguments of the advocates of restric-
tion resemble this. They all resolve themselves into
cases which took -place just u much under the old
a: the new system. But we are not satisfied with
merely showing that the argument does not hold
good against the reciprocity system. We take the fact
which has been so kindly furnished to us, and we draw
from it this logical conclusion, that foreign merchants have
entertained false ideas with respect to the change in our
system—that the speculations which they have founded
upon that false assumption cannot possibly be productive
of permanent advstltage, and therefore that the increase of
trade in these countries cannot be considered as any thing
but an ebullition similar to that of 18V4-3 in this country.

Without imitating COBBLTT in claiming for ourselves
the gift of prophecy, we may be allowed to claim some
merit to ourselves on the score of consistency with regard
to the affairs of South America. A contemporary yester-
day informed us, that even a few mouths ago the recent
events in South America could not have been anticipated,
and were not so much as dreamt of. Now, so far back as
April last, we used language on this subject which we
should not now hesitate to repeat. We stated it as our
opinion, that a Congress could not decide the innumerable
points which must eventually come into discussion in South
America; that it would not be able to reconcile, or even
to discover, all the conflicting interests, which had not then
had an oppOrtinity of developing themselves, on account
of the feriptiA.,ll common danger. " Sooner or later,'
we added, •foste shall see America act the old drama, which
has so sitars bred exhibited in Europe, and the crusaders,
who nqw unite under the cottmon banner of liberty, will
ere long divide, and draw the sword in quarrels of a more
partial nature." Whether this has not been justified by
the result, as far us it has gone, we leave our raiders to judge.
Wes did not, however, conclude the article which contained

these remarks, without mentioning it as our opinion, that
these oxasional tempests would produce no permanently
injurious effect upon the state of the Transatlantic States, and
we are now not less anxious than we then were to impress
this on the minds of our readers. As to the financial
affairs of Colombia, we all know that the United States
Stocks, after the war of their independence, were certainly
not less hopeless investments to appearance than the Co-
lombian are at present. This is an argument, how-
ever, which will not do for the Stock Exchange. The
frequenters of that Mart do not extend their views to the
period when these Stocks will probably be tripled in value,
nor do they even consider in their bargains that a very
few years must produce something like regularity in the
payment of the dividends. All they consider is by what
means they may contrive to raise or depress the Market
for the moment. If to take advantage of a momentary
folly were the sole duty of a Statesman, the stockjobber
would be the most consummate politician. Some of oar
contemporaries have lately been made the tools of these
speculators, who, under the mask of early intelligence,
contrive to publish garbled facts or direct misrepresenta-
tions. We have not, perhaps, ourselves been able suffi-
ciently to guard against such projects on all occasions;
but thin, at least, we can say—we have never trusted to
stockjobbers for our intelligence, and we have never had
any regard to the interests of any particular portion of that
' clans in what we communicate to the public.

CITY, FAMT EVIMING.

The British Stock Market opened this morning under
rather heavy auspices, from the sales made at a late bout
yesterday, and it was some time before there was any thing
like business doing. The first transactions, however, were
done for an advance, and they gained 811 to 4; having re-
mained some time at this quotation, they suddenly went to
811, from that to 1, and it wu said that they gained fl 2;
but that appears doubtful, the closing price being 811 for
money, and 811 / for the Account. There were various
reports in circulation u the cause for this, arising out of
the arrival of an express from Paris, the 3 per Cents. of
that capital having reached 67f. 75c. It was confidently
asserted that the conference at Akermann had terminated
favourably, and consequently that the probability of a
war between Russia and the Porte was at an end. There
was also another announcement of more immediate import
to this country, which was, that Mr. Comma had suc-
ceeded in negotiating a treaty of commerce between France
and England, upon terms of mutual reciprocity. It is im-
possible to suppose but that this subject is one on which
Mr. CANNING has bestowed his serious attention. The
unfortunate opportunity that was lost by a Noble Marquis,
now no more, in the year 1614, has been often referred to,
and remains on history as a serious charge against that
splendid diplomatist. Lost in the vortex of military do-
minion. he overlooked that which, as representing a com-
mercial nation, ought to have been his first care; and it
would appear—if the report is correct—that his talented sue
cessor is about to redeem the character of the Cabinet in
this respect (as he has done on other occasions) from the
charge of supineness to which it was subjected, as regards
the best interests of the Empire. It is indeed a long time
since any such treaty was concluded between these two
contracting parties, and the subject is well worthy the
liberal policy of Mr. CANNING'S administration. The
demand for Exchequer Bills and India Bonds increases ;
they have to-day been bought at a higher price than has
been the case for some time past—the former at 21, 23,
and the lat ter at 33, 35, pm.
The Foreign Market is generally a shade better. Mexican
Bonds are from 641 to 63, with a very steady Market.
Colombian lionds,which closed yesterday at 361 to37,have
advanced during the day full two per cent. ; at the close
of the Market, however, they were something lower, at
381. The recantation of Dr. Fol. ey, as regards the state-
ment put forth as his, cannot, however, be considered to
have had this effect, as it did not appear till after the close
of the Market. The worthy Doctor denies that he ever re-
presented that be came to negotiate a new Loan (though it
was positively stated, in the article given as under his au-
thority, that he came vested with full powers to do so), and
negatives the proposition that he was employed by the
Colombian Government, although the article in question
stated that he was so employed, and that in consequence of
representations made by M. Ilearano himself. He also
denies that he ever said Colombia had not the means of
paying the interest on her debt ; and states that he is going
back to use whatever influence he may possess, in order to
impress upon the Colombians the importance of transmitting
to England the sum necessary to pay the dividend, and to
keep faith with their creditors; so that Dr. FOLEY is re-
turning to Colombia for the purpose of recommending that,
which he said, or somebody said for him, was impossible to
be done. There are several other points alluded to in his
observations; but as they refer to a letter which,
appeared in the British P►ess of this day, they will be
found in another place. Dr. FOLEY, like an honourable
man (whatever may be thought of his discretion), has denied
the main points of the statement put forth es his, and
therefore severity of remark is disarmed, as regards the
Doctor. What be will say to his friends who concocted
the statement for him it is difficult to imagine. There is,
however, little doubt but that the colouring given has pro-
duced the desired result, via.—a day's operation on the
Market. It wu impossible to suppose M. MUSTANG
could have acted in the manner which Dr. Focey's origi-
nal article imputed to him, and the result proves that his
conduct is beyond suspicion. In consequence of a formal,
and very proper, appliemism having been made by Messrs.
HERRING, GSAIIAN, and Pow Les, the contractors for the:
Colombian Loan of 1822, to Huararo, on the subject
of the dividend due in November, that gentleman hu
written them an official answer, in which he states that the
money has not yet arrived from Colombia. but that, from
the communications he has received from his Government,
he expects it will shortly. The arrival of the Jamaica
packet will doubtless bring further intelligence ; but in the
mean time it must be observed, that M. lltrar•no stands
completely exonerated. Ile has every reason to: suppose,
from the despatches he has received, that money will
come; and in effecting the insurance he only toot that
necessary measure of precaution, which, in point of fact, it
would have been criminal in him to have neglected.
Chilian are at 39, 40, and it is rather strange that some
question is not raised upon the subject of these Dividends.
The amount is not of magnitude, and it is possible, per-
haps, that they may come. There are some considerable
insurances of specie by his Majesty's brig Dove, packet, or
by ships from Buena Ayres, but whether remittances from
Chili are among them does not appear. Greek and Spanish
are at last quotations.
In Shares there is more doing; Anglo-Mexicans are
better, at 471 to 45 discount ; while Del Monies have ad-
vanced to 40, SO, premium. Brazilians are from IS to 14
premium.

The Corn Market has been dull today, but prices are
firm ; there was la plentiful supply of new Oats, which
realized as much at, old.
The sales in the Colonial Market have been tolerably
brisk, but at infe►ior prices as regards Sugar, it having
been impossible to mak" a large sale but at a reduction.
Rum is the only &Mole which looks well in the Market.