The British Press; or, Morning Literary Advertiser.
London, England, 1825-03-23 00:00:00

land that Mr. Vaugllan. Micistzr of his Britannic Majesty to the
Swiss Confederation, who lately left Switzerland on leave, will net
return to Switzerland, but that he is appointed Ambassador to the
United States of America, and will be succeeded here by Mr. Al-
gernon Percy, Secretary to the Legation at Paris, Ron of Lord Be-
verley, and nephew to the Duke of Northumberland."
It is afsmted that the Direetoral Government of Switzerland has
manifested an intention to take part in the Treaty of Commerce
which is actually negotiating at Stutgard between the Plenipoten-
tiaries of the States in the South of Germany.

Mr. Ilussrss3 N.II speech on Monday evening may de-
servedly rank him among the first political economists of
the age. There is no Member more clear-sighted uto
all that concerns the true interests of the commercial
world. He stands on ground sufficiently firm to justify
him in discarding, as he has done with unprecedented cou-
rage, the selfish and sorry doctrines of the Old School.

It is gratifying thus to remark the practical result of the
enlightened labours of RICARDO, MILLS, M'CULLOCH,
and others, in rooting out the mistaken notions which had
so long and so fatally mis-led the politicians and legislators
of the " olden time." The Parliament of England will
hereafter show to the great commercial States of Europe
what are the only true means by which nations can enrich
themselves in their dealings with each other. Commerce,
simply considered, is nothing more than the exchange of
one want for another want, and of one article of luxury
for another. In all commerce between nations, as in all
commerce between man and man, the more each possesses
the means of supplying the necessities, or ministering to
the comforts of the other, the greater will be the ad-
vantage desired to all from their mutual intercourse. The
instant that intercourse is conducted upon the principles of
monopoly and exclusion, from that moment their re-
spective interests are broken in upon, and the whole be-
comes by degrees a system of perfidious and unprofitable
rivalry. So long as this system prevails it is utterly hope-
less to consolidate their reciprocal interests; trade, so con-
ducted, never can be any other than a struggle which
country shall take the most profitable advantage of the
other; and, as always happens in such a conflict, both
sides in the end are losers.

The sovereignty of a Mother Country over her Colonies
has been exercised, time out of mind, in the most selfish
and oppressive spirit of despotism. The colonists were
looked upon as little better than hewers of wood and
drawers of water to the Parent State. Gum BRITAIN
can claim no exemption from this bitter reproach upon her
parental character. Mr. Hes IL 199 0 w drew an animated
and admirable picture of the mode in which she exercised
her supremacy over Ireland, when up to the year 1180 she
treated her as a colonial dependency. The rigorous com-
mercial restraints which she, in those days, imposed upon
the Sister Kingdom, were such that the very mention of
them called forth a murmuring chorus of " hear, hear,"
from every part of the House. It is difficult to conceive,
under the enlightened Government of our own time, how
restrictions so galling and so glaringly unjust were ever
patiently borne. But the progress of increasing wislom
in all that concerns the affairs of trade and commerce, is
conspicuous in the enlarged views which govern the policy
of Ministers, and in the manliness with which all those nar-
row notions are exploded which formerly were the regular
and received rules of legislation. The enlightened colonial
system, so ably advocated by Mr. HCSRISSON, cannot fail
to be succeeded by results the most important to the mer-
cantile interests of Great Britain, both at home and abroad
Without compromising those interests in the slightest de-
gree, all the profit to be derived from our foreign posses-
sions will be incalculably increased, at the same time that
they are placed on the sound and secure basis of mutual
justice.

It has been a question of frequent discussion, whether
colonial possessions add any thing to the real power and
effective strength of a nation. For any practical purpose,
this discussion must always be useless. It involves points
which never can be settled by argument, and over which
abstract reasoning can have little or no influence. Of this,
however, we may be catain, that whatever wealth we may
waste, or whatever blood we may shed to preserve our
colonies, their gratitude will never go a step beyond their
interest. We may watch o'er their weakness—we may
nurse them into strength—but if, when reared to maturity,
and in a condition to stand up in their own defence, we
treat them on the footing of dependants,uron whose labour
and industry we are to be feel and fatten, we may rest as-
sured that their struggle for independence will never be far
distant. If, taking any colony, we overstock her markets
with our goods, and leave her own upon her bands, by pro-
hibiting her trade with other countries, what pledge can
we have for her fidelity, or how can we hope to keep her
in subjection, when she shall be able to break off her al-
liance, and become a free State ? The liberal views
taken by the Member for Liverpool are those which every
British merchant must rejoice to hear maintained in a Bri-
tish Parliament; carried into effect they will open fresh
channels of consumption in all quarters of the globe, by
extending to all our colonies those equitable rights, which,
in their re-action, will he the soul of our commercial pros-
perity and the source tfot....zarnanent greatness.

The Foreign Stock Exchange yesterday was considerably
agitated by the rumours that were in circulation as to the
negociation now pending for a new Spanish loan. The
Times, in support of its former statements on this subject,
asserted yesterday, in the most positive terms, that an
express had arrived from Madrid " with a confirmation,
almost to the letter," of what appeared in that Journal on
Saturday, viz. " the determination of FERDINAND never
to do any act which should give the smallest value to the
bonds issued by him under the Cortes." On Monday we
exposed, by a relation of undeniable facts, the utter
groundlessness of the statements of the Times on Saturday;
and yesterday we were answered by the announcement of
the arrival of an express confirming, "almost to the letter,"
all that the Times had previously published. The article
of yesterday is written with even more solemnity and self-
importance than usually belong to that journal. An Evening
Paper of yesterday observes, that" the diameter elite Paper
is pledged to the statement ;" and indeed there is such an sir
of oracular authority and seeming precision of detail that
we might readily excuse a person unskilled in the areana
of the Times for being deceived Ly a series of aasertioas so
plausible and well arranged. "The character of the Paper
is pledged." No doubt it is: let us see then what this
"character' is worth. On Monday we denied all that the
7'imes had put forth up to (lett day. We showed by cer-
tain facts that the whole story of the Time, was a tissue
of pure misrepresentation. It is our business to make a
similar exposure of the article of yesterday. For this pur-
pose we shall first point out what parts of that article are
mtt true, anti we shall next state, from our own sources of
information, what is true with rtspect to the new Spanish
I Loan.

We begin then by denying the truth of every fact stated
in the Times of yesterday as to the pending negociations
for the loan?

In the first place, it is not true that " an express ar-