The British Press; or, Morning Literary Advertiser.
London, England, 1826-10-12 00:00:00

mtscaLL,

gilt Brttith tircoo.
DRURY-LANE. THEATRE.
ThLi Evening, THURSDAY, October 12, will be performed the
Corned.; of
THE BELLE'S STRATAGEM.
Doricourt, Mr.Wallei k ; Old Hardy, Mr. Denstop ; Sir George Touch.
wood. Mr. Cooper ; Filßer, Mr. Browne; S vilie. Mr. Bennett. Letitia
Hardy. Mier Mies Tree ; Mrs. Rneket. M re. Darleoe.
After which the Romantic ftrera of
DER FREISCHUTZ.
Ottorar, Ifs. Mercer: Bernhard, Mr. Redford $ Adolph, Mr. T. Cooke;
Casper, Mr. Horn; Kilian, Mr. J. Att./belt; Zamlel, Mr. 0. `Smith;
Linda, Ml.. Graddon ; Bo", MI.. A. Tree.

COVENT-GARDEN THEATRE.
This Ends& TUUSSIDA Y. October 12, trill be performed the
of
VENICIIIRIZICRI-E1).

lacer, Mr. C.lCemble:

Pkrre, Mr. Vnnn✓,

Belvidere. Mrs. Stoma's.

After which the Magical Entertainment of
TIIE CASTLE OP SORRENTO.

The Governor, Mr. Power ,11Iloral. Mr. Gurnee . Count Murrill', Mr.
J. !semi Germain, /Ir. Blanchard. Roetna, Miss Cowen.

POSIT7VF.LY NEXT WEDNESDAY ALL LOTTERIES END IN
THIS KINGDOM. SIX OP 430,00 u, kc. 4.019,000, IN ONE DAT.

The BRITISH PRESS Commenced publishing yesterday
morning A t five °Mork.

LONDON, THURSDAY, OcinaEß 12, 1b26.

Notwithstanding the gloomy anticipations of many jlur-
naliats, it does not appear that the deficiency on the whole
quarter's revenue has come up to what was asserted to be
its amount in the head of the Cu:toms alone. The de-
crease on the quarter is 690,(101.-1 large sum undoubtedly,
bat not nearly so much as might have been supposed in
the depressed state of our commerce. The decrease has
taken place in the Customs, Stamps, Post-office, and Mis-
cellaneous Items, and is in some measure to be ac-
counted for by the financial arrangements made by Par-
liament. There is an increase of 71,n6.11. in the article of
Excise, and an increase of 12,1911. in the taxes tinder the
management of the Commissioners of Taxes. It may be
somewhat difficult to account for this, as one might
na-
turally suppose that the produce of our domestic taxes
would fall off in proportion to the supposed diminution of
consumption. The feet is, at least, a proof that the prin-
cipal deficit has arisen from the diminution of our import
trade—a circumstance which must be extremely gratifying
to the alarmists of the old school, who apprehended an inun-
dation of foreign merchandise on the abolition of our re' tric-
live system. Every one knows that our export trade adds
little to the amount of our Customs; and the only way in
which the falling off in the Customs can show a falling off
in our export trade is by arguing that the quantity of cur
imports is regulated by the quantity of our exports—a
principle for which Ministers have all along contended, be-
cause it shows clearly that the only way to increase our
exports to forein countries is to adroit their goods into
this country in excharge. If our export trade do not in-
crease, it is foolish to suppose that our import trade, of
grain or of any thing else, will become so great as to in-
jure our own farmers or manufacturers.
If we deduct from the Revenue, before the late reduc-
tions of taxes took place, the amount of taxes which have
been reduced, the result will be much less than the amount
of our receipts is 'likely to be on the lowest scale on which
we can reckon it even at the present moment. If
no reduction of taxes had taken place, the amount
would have been .58,900,000/. The amount of taxes re-
pealed in thz last seven years has been 30,712,000/.;
and making every allowance for the depreciation of
the currency in 1816, and for other circumstances,
the net reduction cannot fall short of 21,000,000/.
The amount of the Revenue should not therefore exceed
31,000,0001., whir,:cs, even in this year of extraordinary
depression, it is certain that it will exceed 16,000,000/0
reckoning it at the very lowest. The Revenue, therefore,
has received an actual increase of 12,000,000/. It is true
we bad imagined that we might continue to reduce taxes,
and keep up our revenue for ever; and if Nature had fixed
no bounds to the extent of our markets, we might have
continued to increase our trade in proportion to the dimi-
nution of our taxes ; but our manufactures having now
reached, and unfortunately exceeded, the utmost height
which they can attain under our present circumstances, it
becomes the duty of the Legislature, by diminishing theprice
of necessaries, to diminish the price of our manufactures,
and thus still more to increase the extent of our markets
both for manufactured and agricultural produce. If this
be done, our Customs will again flourish as much as ever
and will continue to increase as long as the world conti-
nues to advance in the path of improvement and prosperity.

CORBETT and the Times assert that there has been no
diatioution of taxes, because irnoney hac inorcacoll in
value nearly in the same ratio that taxes have been re-
duced. According to this supposition, 31.,000/., the amount
of taxes seven years ago—after deducting those which have
since been repealed—would be equal, at present, to
.;8,000,000/., the former amount paid. The 1.6,000,000/.
actually paid at present would consequently be equal to
78,000,000/. CORBETT indeed wishes the gross amount of
the revenue reduced; but it is obvious that its continuing
so high as it does is a proof of increased consump-
tion; and COBBETT surely would think it no loss to his
friends, if, instead of saving so much in consequence of
the repeal of taxes, they continued to spend it in 0
promot-
in,, their comfort..

We have received United States Papers to the 18th ult.,
extracts from which we have given in another part of our
imprelsion. An article from Santiago de Chili of May
the 20th attributes the concurrence of Buenos Ayres in the
Panama Congress to an article in the A'acionul, calling
upon the Government to imitate the example of the United
States. They also contain a correspondence between a
Brazilian officer (who formerly served under Rn A PART E),
relative to some deserters, which is rema►kahle only as
ahcectaining the fact that there arc many Austrian officers
in the service of Don PEDRO.

An article headed " Increase of the City of Albany,"
may serve as a text for the Times to show that the pro•

THE BRITISH PRESS.

sperity of other countries is injurious to us ; but, as we do
not think so, we do not extract it. For the other parti-
culars contained in these papers we refer to our extracts.

Our contemporaries are completely mistaken in asserting
that the correspondence between Itos►Nsr. and PINTO
GULDEs appeared a month ago in several London Papers.
It appeared exclusively in the British Press, and was re-
raarked upon by us; but none of our contemporaries at
that time thought it either "curious, interesting, or im-
portant," though they all consider it to be act just a month
after our first publication of it. It may seem invidious to
put the public in mind of these things so frequently as we
have been obliged lately to do ; but it is only a piece of jus-
tice which we owe to ourselves, to claim that which of right
belongs to us. We have avoided doing this in many cases
—such as that of the war in Persia, which was first an-
nounced by us, and afterwards placed to the credit of
another Journal ; but the present instance is one of so
flagrant a nature, and the silence of our contemporaries at
the time appeared to us so inexplicable, that we cannot for-
bear putting them in mind that the documents, with almost
the same comments which they give on October loth and
11th, were published by us on September 12th and 13th.

An allusion was made yesterday to the calculations of a
certain Member of Parliament, who is understood to have
made the subject of the Royal Palaces one of the principal
objects of his attention, undertaking to show that a million
at least will be expended on them, and founding upon that
erroneous assumption a variety of observations, not more
derogatory to the honour of the Crown than discreditable
to the generosity of the nation. Our object in speaking of
this Honourable Gentleman has always been to do him
full justice for upright motives and well meant exertions;
but we cannot help entreating him to extend his views a
I ttle more—to look farther into the consequence of things
—and to cease acting the one day in a manlier which
he will find the next to be in direct opposition to
his own views. If a man is obliged occasionally to
employ a physician, it would scarcely be the duty of
his friends to dun his ears continually with the enormous
expenses of medical attendance: yet this is the invariable
Course pursued by the Honourable Gentleman to whom we
now refer. Ile ought to know—if he is not aware of it
already—that the increased splendour of the Crown has
become necessary in our present circumstances, to secure
the rights of the people. Can any one be ignorant of the
fact that bankers and money-dealers begin to eclipse the
magnificence of Royalty, and that the bulk of our Aristo-
cracy are already thrown into the shade by the opulence of
this new oligarchy, which has got possession of the pro-
perty of our old Nobility ? If Mr. I%ume wishes to pro-
mote the good of the country, let him adhere to that party
(if it can be called a party) which is composed of the
KING, the bulk of the Nobility and G miry, and the People
themselves. These have all one intersst, and that interest
consists in diminishing their private expenditure, and con-
sequently increasing their disposable meala by lessening
the burdens of the public. if there were any oligarchs
who would lose more than they would gain by the diminu-
tion of the public burdens, the KING, the Nobility, and
the People, would be equally interested in the destruction
of the system by which they arc encouraged.

CITY. WEDNESDAY Evr.stwo.

This has been a day of considerable excitation, not so
much from the portion of business done as from the ex-
pected proinulgation of the account as to the state of the
Revenue. The amount of the defalcation for the quarter
was stated during the morning to be 890,000/., and which
appeared, on the receipt of the particulars, to be correct
within .50/., the falling off being principally in the Customs
and Stamps, while the Excise showed an increase. This
event had been fully anticipated; indeed rumour, for same
days past, had placed it at a much higher amount ; and,
under the circumstances of the country, in consequence of
the alterations in our commercial policy, the state of the
Revenue cannot but be considered as presenting a very fa-
vourable view of its resources. Its effect on Consols was
sensibl) felt, by there at once appealing plenty of buyers
at 60,1, and for the November Account at being the
quotations of yesterday. In Exchequer Bills and India
Bonds there is no alteration.

The Foreign Market has presented a highly feverish ap-
pearance, in consequence of the excitement in respect of
Colombian Bonds. As noticed yesterday, the report of
money being at Vera Cruz, for the payment of the divi-
dends, was the cause. At the opening of the Market they
were done at 39i, and rapidly advanced to 42, in conse-
quence of a positive assertion that a policy of insurance
would be opened at Lloyd's for 600,000 dollars by twelve
o'clock. At that hour, however, such an event had not
taken place, and considerable sales were effected, which
took them down to 40. Matters, however, did not long
remain in this state, for the order for making the insurance
was declared, the policy being for 160,000/. This cir-
cumstance, however, did not occasion the Bonds to
reach their higher quotation, as the market closed at
40 to 401. The conditions of the policy are-40a. per
cent. premium, to return 19s. if by ships of war—the
underwriter to retain Ss., short interest—the specie to
be shipped between the Ist of August and the 12th of
January. At four o'clock the amount written was 35,0001.
Some doubts were thrown around this business by the cer-
tainly somewhat singular circumstance that the proceed-
ing is stated to rest upon the authority of letters said to
be received from Vera Cruz, by way of Port-au-Prince
and France, slated the '2oth August, there being letters in
town, received direct, to the 13th of August, which ate
wholly silent on the subject of any specie having arrived at
Vera Cruz, or of its being expected. As the difference
between these data' is only seven days, it is by some
thought strange that so unexpected an arrival should have
taken place without sn anticipation of such a probability
beiges 'fated in the baton of the earlier date. Still this
does not destroy the possibility, because the state of the
country, probably, had been of that nature to preclude
such information ; and, if strong and sudden measures bad
occurred to enforce the tax which had been imposed, no
doubt the money might be forthcoming. There is one cir-
cumstance, however, which perhaps ought to put conjec-
ture at rest ; and that is, that the insurance is effer ting
under the directions of M. Huns-Aro, the Colombian
Minister, himself. It certainly is possible to open
a policy without a prospect of the transaction to which it
refers ever being completed; but it is as impossible that any
Minister representing the Colombian Government here,
much less M. Hu RTADO, could lend his name to such an
act of deliberate misrepresentation. lie must know that
the money is forthcoming. His written order to the highly
respectable house which is effecting the policy must be
conclusive as to the regularity of the transaction in ques-
tion. All other transatlantic securities were more or less
af&eted by this movement in Colombian, Buenos A vrcs be-
ing 61 to 3; Chilton 3s to 9 ; and Mexican, poor Mi xican,
which have been so recently the pet of the market, 621 to
! Greek are 13/ to 141; and Spanish stationary at tol.
In Shares the Del Monks are improving, inasmuch as
they vary from 40 to 30 discount; in others that are quet
ble there is no alteration.

In Mark-lane, in consequence of the very large supply
of Oats which has arrived this week, prices are disposed to
give way a little, there being a break down of from six-
pence to one shilling per quarter. In other grain there is
little or no variation, and the market rather heavy.
The Colonial Market is looking up in point of activity,
some considerable transactions having been effected to-day,
at prices fully agreeing with last sales.

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