The British Press; or, Morning Literary Advertiser.
London, England, 1826-01-19 00:00:00

THE:)3RITISH PRESS.

,
as pont*, a 12110 50444pn to accelerate tie progress of la,
suits. t 1
111. deCorpie is WI at Burgos. where he has received no"ortler
since the first, which commanded him to remain there till further
orders trout his Majesty. Ile waits with the confidence and resit.
nation which are given by a good conscience, and the conviction
that he des inn done anything but for the good of the tactearchi.
and the King.
(from the Conrr;cr riatirair.l

PA :11g, JAX.

Private letters from S. Petershurgh state that three petsons of
rank have been ;it-rested the►c ; that among the number is a Russian
Prince-Ithat this Prince is allied to the Austrian Anthessador, and
that he lived is the same palace with the Ambassador himself.
They add, that two of the persons arrested assign in their examina-
tions very different causes for the troubles which hate happened,
and to the massacre which followed it.

The signal for these movements, according to one, was given by
some young officers struck with the disagreement of two contra-
dictory oaths succeeding each other so rapidly, and tending to bring
fidelity into derision. According to the other, they originated in a
plot prepared ►ince the nest; of Alexander's death, and which had
sr ne connexion with a system of foreign influence and polic;
which events will soon develop.
FRENCH Pcxw.—Palos, JAN. 16.—rive per ('et ts. WE 20c.;
Three per Celli!. 67f. Irk. ; Bank Stock 2,080 f. ; Itente do
Naples 771. ; Rente d'Espagne 101.; Royal Spanish Loan
; Ilaytien Loan 980f.—Corr, Anthottique.

It is not often that we remark upon the writings of Mr,
Conant T, and for this reason, that, revolutionary as his
doctrines are upon all topics, we apprehend no danger from
them. They arc neutralised by the excess of their malig-
nity. He is so universally known as the revengeful and
inveterate enemy of this country, that his predictions pass
for nothing. He makes no hesitating avowal of his enmity
to every thing connected with her prosperity; his hatred
is manifest in every subject he touches and in every sen-
tence he writes. Whatever, party is intent upon under-
mining her power finds i❑ him a willing confederate. He
is ready at all times to enlist himself against the Govern-
ment, and the more popular the Ministers are, and the
higher they stand in public estimation, the more turbulent
are his attacks upon them, and the more vulgar and violent
his abuse. But from his pen it flows away without harm,
because whoever takes up his Register expects, as matter
of course, that his statements will take their usual swing,
and his virulence its usual latitude. He is read, because
be is always worth reading; for, though he abounds in
misrepresentation, his style is fluent, forcible, and full of
energy. He says whatever comes uppermost, and takes
whichever occurs first, whether a fact or a falsehood, care—
less which it is, suloug as it answers the purpose ; but there
is still a freshness of mind, and a Cossack strength of
language, that rivets the attention of his readers, and leaves
them only to lament, with regard to the writer, that he
should be entirely destitute of principle, and utterly re-
gardless of truth.

In his Register of the present week Mr. CORBETT ad-
dresses himself to the mechanics on the subject of viper
ma icy. And we have at the outset a specimen of the
easy assurance with which he asserts what he himself, as
well as every one else who has any acquaintance with the
subject, knows to be wholly unfounded. " You have
seen," says Le, " and indeed felt, the effects of the stop-
page of only six banks (out of seventy) in London, and
of about a hundred (out of eight hundred) in the country.
What would you have seen and felt if the whole had
stopped? This was not only possible, but this is what
must hare taken place if one-pound notes front the Bank,
and other measures the most extraordinary, had not been
resorted to." Mr. COBBETT ventures the above assertion,
not doubting but that it will pass muster with that
c'ass of readers whom alone he is anxious to influence.
He knows they will never pause to ask themselves—if it
were at all likely that the trifling lssuc—(for it was but
trifling)—of one-pound Bank of England notes kept all the
residue of the bankers in London and in all other Farts of
the kingdom from stopping payment. A man must be in
the last stage of idiotcy that could be made to believe it.
It is manifest that nothing preserved the banks that stood
their ground but their being prepared to meet—and actu-
ally meeting—all the demands upon them. But for the
causeless panic that produced the run upon them, even
those which failed would have been found equal to all
their engagements, and would have continued to answer
every claim upon them without difficulty. But the
great object of Mr. COBOETT, and of the faction in this
country to which he belongs, is to cry down Loper• riii-
rency ; and accordingly, taking ground on his own false
assertion with regard to the banks, he asks—" Ought we
not to inquire whether paper money be a thing necessary in
a country ? Ought we not to inquire why we have it at
all i' Ought we not to inquire whether we cannot get rid
of the desolating curse ?" And, having proceeded a due
length in this sweeping and dictatorial tone, he affects to
scorn as absurd the opinion that paper money is at all es-
sential to the carrying on the concerns of commerce, and
he endeavours to prove it—as is customary with him in all
his demoi,strationA—by first raising suppositions to suit his
case, and then drawing from them such conclusions as may
be made to serve it. He is a praCtised adept in this sort of
manoeuvring; the sample which we arc about to quote will
exemplify it:—
" Let us suppose a country where the whole of the
sales, purchases, bargains, in short, all the dealings in it,
require money in circulation to the amount of fieente mil-
lions of sovereigns. Then, let us suppose that, from some
cause or other, the 61ealings fall off one lire/j; that instead
of two bushels of wheat there would be only one, and so
on with everything else; and let us suppose that t,c (mon-
lity if money were to remain the same. The consequence
would he, that the one bushel of wheat, and the one every-
thing else, would have as much money employed in the
removal of it- from hand to hand as the two hail before,
for, observe, all the money in the country would still be
used; competition would snake men employ the whole of
it."

Now, either Mr. CORBETT is misleading himself by a
gross fallacy, or he is purposely endeavouring to mislead
his readers. Ile first takes twenty million of sovereigns ns
the amount of the currency ; this he considers as being
wholly employed in the purchase and transfer of commo-
dities of every kind. Ile then says, " Let us suppose that,
from some cause or other, the dealings fall off one hall.;
that instead of two bushels of wheat there would be only
one." But mark the fallacy. The dcalinv falling off one
hay' is here put as synonymous with there being only one
bushel of wheat instead of two; whereat the one circum-
stance is totallyktferent in its nature and consequences
from the other. If the dealings which absorbed the twenty
million of sovereigns fun if one iaT, then the quantity
of rirculaling medium required will be less by one half;
but if there is such a deficient harvest as to reduce the
.coppill oreora one half, and that " instead of two buahelsi
of wheat there would be only one," in this case the price
will br doubled, and will of course absorb a double amount
of whatever 'Portion of the currency was before paid in eZ-
: change for it. And if " the one bushel of wheat " rises to
the same price as was before paid fee the two, it thin be-
comes impossible that " the one of every thing else can

-

have as tunas musirt, employed in the removal of it from
band to hand as the iwu had before." The statement re-
ftites itself.

Mr. CODDLTT blunders equally—either ignorantly or by
design—when he proceeds to prove the converse of his
proposition. " Nutt, suppose the contrary of (Lis. Sup-
pose the (killings in the country to be &added, anti suppose
the ynaatity of money in the country still to remain the
sante as if was kfure. The consequence would be, that
he:, bushels of wheat, and two of every thing else, would
havo no more money employed in the removal of them
from hand to hand than the, one had before."—Certainly
not. How is it possible they should? If the quantity of
money—the twenty million 'of sovereigns—remains the
same as before; if there were twenty.bushels of wheat and
twenty of every thing else,. instead of two, it is quite clear
that they " would have no more money employed in
the removal of them from hand to hand than the one had
before," and for the best of all reasons, because, according
to his own showing, there is no more money to employ.
To suppose the case of a nation having twenty million of
sovereigns, and no more, to carry on all its commercial
dealings, and then to argue very gravely thati these deal-
ings arc doubled no more money will he employed, or in other
words, that no man can give more than he has got—to dress
out this most common-place of all truisms with a parade of
reasoning is truly ludicrous. Mr. COWIE TT'S Registers will
furnish endless examples of this mode of discussion. It is
under this sort of cover that he carries on his weekly '
crusade against the established principles of moral reason
and political truth. It is worth remarking, by the way,
that he never fails to wind up his arguments, however
puerile and inconclusive they may be, in a tone of perfect
triumph ; thus, after putting his supposed cases as above,
he asks, as if flushed with victory—" What becomes, then,
of the assertion that an increase of dealings demands an
increase of the quantity of the circulating money ?" The
answer to which is, that Me assertion stands just where it
did, anti that all that Ur. CORBETT has advanced, even
giving hint all the benefit of his suppositions, shows that it
is utterly beyond his power to snake, much less to over-
turn it.

IVe cannot spare more space to this article at present ;
but as the Register and the Times hunt in couples to run
down paper credit and paper eurrene..:‘, we shall not omit
to examine the additional arguments by which Mr. Cos-
BETT professes to convince the public of " the necessity of
putting an end to them."

(ATV, WF.IINESDAV EVF.7O.!CO.

This morning the Stock Exchange had a very heavy
appearance, and it seemed as if Securities of every de-
scription were likely to be much further depressed. The
settlement to-morrow is, we understand, the greatest, in
point of extent of business and fluctuation of price, that
has been known since the termination of the war. The
differences must be very extensive. Consols for Account
opened at Sl: ; they afterwards declined to 1; some large
bargains were then made, and the quotation advanced to
at which, after a few changes, it closed; for Money, the
concluding price was tio; reduced, SO!. Exchequer Bills
were at 1 prem.; and India Bonds 6 to S.
About the middle of the day Foreign Stocks were much
depreciated ; but towards the close they not only recovered
their ground, but advanced upon the oily quotations in
the morning. Colombian Bonds left off' at MI; Mexican
Six per Cents. 611 ; Brazilian 631. Russian Bonds were
52; Spanish 12f ; Greek, 14,1.
In the Share Market little business was doing, and prices
were lower. Anglo Mexican Shares were reported at par ;
United fluctuated between 64 and 74 ; Pasco Peruvian de-
clined to 3 dis. British Iron Shares were selling with dif-
ficulty at 9 dis.

The indigo sale at the India House passed off very
smoothly yesterday, notwithstanding the misundetstentling
that existed between the Directors and broktrs on Monday.
We learn from Cadiz that an American schooner,
which wimt ashore near the Tiocadero during the recent
hurricane, would certainly have been pillaged by the
people, hail it not been that the commander of the French
naval station sent some men on board for her prott ction.—
French Paper.
An article from Berlin states that the Moscow Regiment,
which on the ‘2,6th ult. refused to take the oath to the Em-
peror Nicholas, is the old regiment of Lithuania. Formed
by his Imperial Highness the Grand Duke Constantine, it
was extremely attached to him, and manifested the most
lively joy when he was proclaimed E:nperor. It was one
of the best Russian regiments, unit greatly distinguished
knit* in the last war.

The decision of the President of the United States with
respect to sending Ministers to the Congress at Panama
has excited considerable attention among the American po-
liticians. It is distinctly announced, however, in the Na-
tional Intelligencer, that the persons who are to be rent
will be invested with no other authority than that of
" Counsellors," with the perfect understanding that the
United States' Government will not deviate from that
strict neutrality which has hitherto been declared and
maintained between the present belligerents. Messrs.
Gallatin and Crawford are mentioned as the individuals
upon whom the selection is likely to fall. Their functions,
it is added, " will be of the gravest and most confidential
nature."

The express conveying the Message of the President of
the United Stato to Ilthimere left this city on Tueeday,
at 2.; minutes past twelve; and, by theliml.re Ame-
rican, we ham, that the one by the Citizen's Line arrived
in that city at ten minutes past two o'clock, and the other
in about five minutes afterwards. If our clocks agree,
therefore, the time occupied in conveying the Message the
whole of this distauce of 37 miles was only one hour and
three quarters ! We presume that there is no instance on
record of greater speed.—Washing 100 Gazelle, Dec. 9.
The subscription at Montreal for the Miramichi suf-
ferers amounted to 1,4221. 18s. Id. on the 23d of November
last.

We have received accounts from Hayti to the 16th Nov.
(hr the 7111 of that month the three French Consuls ar-
rived at Pert-au-Prince, and on the Ntli had an interview
with the President Boyer. The two appointed to Aux
('ayes and Cape Darien would immediately after that day
proceed to their respective places of destination. Tran-
quillity, which had been threatened by the conspiracy, was
restored, and a general wish expressed that Consuls would
be appointed by this Government. Trade was dull ;
coffee crop scarce; price 101 to . dollars per cwt. The
brig Jane Stewart arrived at Cape Haytien on the 7th of
November: this vessel took out M. L. Alburet, the Chief
Commissioner to the Haytian Mining Company.
Accounts received from Panama, dated Nov. 1, mention
the arrival of several of the Deputies from the Southern
provinces to attend the Congress : no names of the indi-
viduals or of the Governments they represent are given.
We have received a Lima Gazette of the 25th of Ali-
gnft. It contains several decrees by Bolivar, dated Cusco,
4th and Sth of July, chiefly on the local affairs of Peru ;
but, in their way, of great importance. The first com-
mences with stating that equality is the basis of the Con-
. stitution, and goes Into details respecting the personal ser-
a vices of the native Indians, the exactions, and other op-
pressions which they have suffered—and decrees that coo-
-1 tracts between the natives and their employers shall be 4r-
gularly entered into, and the payment be made in cash.
All must contribute equally to the public burdens. The
second decree relates to the due distribution of the public
lands. The third decrees that all hereditary titles be
abolished—the authority and title of Cacique among the
I rest. The fourth and fifth relate to the cultivation of the
wool peculiar to Peru, for which premiums are awarded.
The sixth relate to the establishment of the Lancaster ill]
schools ill 1).:1", and to the regulations of the post.

.'ll

TERMINATION 01 THE JUBILEE.

The jubilee year, with all i:s boons sent privations
Rome, terminated on the of December; and
Romans, after twelve otionthe of pro" , pen font,
indulgences, are naturally armies:Bc for- a little recast:
To grant this, however, there seems to be sotnt 1
• ye:,
reluctance in their rulers; (ore upload of allowing
theatres to be opened at the witud ;nut, iintnediatelv
Christmas, no intimation of such concession has hlo,
been published. The closing of what is called the :
gate at St. Peter's conk place in the afternoon of
ma, eve, with the following ceremonies:—
After vespers had been sung in the Sistine Chapel,
Pope, attended by the cardinals, &c., descended bs
private staircase into the church, here he was reeeiv,,,i
the Chapter, and prayed before the rvliques and
moat. He next gave out the anthem, Cent
exhiltitis, which was sung by his choristers while
grand procession, prect tli:ig his Mohnen btaTir..,
candle, marched into the portico. 'Here he esccodol
throne which had been prepared fok bite, and the it,
ants took their respective places. The two step,
granite leading to the holy gate had been /eeriest:sic
moved, and two of wood substituted. Several trays.
tabling bricks, mortar, and stucco, destined for the all.
ance of walling up the sacred aperture, hail been p;
near the steps. The other requisites, such as aim
trowels, &c. were disposed upon tables. Every th
being ready, the two wooden steps were taken away,
Pope quitted his throne, with mitre cm head and cant!!
hand, in order to bless the bricks and mortar. This bet
performed, one of the masters of the cerettioniesgirt en
an apron. Kneeling upon a cushion placed in from
the doorway, he received a trowel from a Cardinal, ;
with it some mortar, which he spread upmithe thresh*:
reciting at the same time a form of prayer. Upon this
placed in the centre and at the sides dupe bricks, %II;
were gilt, and embossed with his arras and those of
cathedral. During this and subsequent operations I
choir sung the hymn " Calestis urbs
came the Cardinal Chief Penitentiary, who also placed
bricks and mortar. His Eminence was followed in aG.
process; by the four senior Penitentiaries (Confessors)
longing to the church. It will be sufficiently evident that
the most workmanlike arrangement of about IS bricks
could not close this entrance into the church; but, in order
to effect the semblance of completion, the workmen lowered
over the aperture a canvas painted to represent a pate. Tie
Pope, upon returning to his thronet resigned the *peen,
and washed his hands, the ewer being presented by the
linke of Gravena. and the towel by the senior Cardinal in
priest's orticrs. His Holiness then read the text of
above hymn. All the candles that bad bees borne bt those
who had composed the procession were now extingtnihed ;
the Pope gave out the l'e Dertm, which was irformed.by
the choristers; and the solemnity concluded with a publi-
cation by two Cardinals of plenary indulgence in favour
of all present. Similar ceremonies were perfoneed at the
churches of St. John of Lateran, Sr. Mary the Greater, and
St. Mary in Trastcvere, where the Jubilee getes wete shut
by Cardivals especially delegated to those offices.