The British Press; or, Morning Literary Advertiser.
London, England, 1826-02-24 00:00:00

17 T !NO or THE 213 T FEB,

The order of thedriii; the continuation of the debate on the
complaint of AI. lie Salliberry against the Journal du Commerce.
Mechia yas the fiat coiled to the tribtinal. He said that
there it nobody in the state which ought to be more jealous of its
dignity (ermsikratiou) than the Election Chamber; that this dig-
nity is the condition of its existence, and that the basis of it Is in
the fidelity of the elections. . . .

But ought the Chamber, for expressions that have fallen from
the pen of public writers, to suspend its labours, and put these
writers in prison? No. The susceptibility of the Chamber
shows that it reckons for something public opinion the queen of
the wos:d. (Murmurs.) However this be, but for the complaint
of M. de Salaberry the article in the Journal du Cozumel ce would
have been forgotten—it had passed unperceived.
It is falling in a passion in cold blood to prosecute a misdemea-
nor committed three months ago—a misdemeanour which the
public tribunals had not thought fit to prosecute; but the complaint
of M. lie Sslaberry was explained yesterday. Three victims have
been pointed out; the Journal dm Commerce. the A/is/argue. and
the Conrrier. (A laugh.) It is the Aria/argue, in particular,
which is aimed at through the JOUTUU, ti“ Commerce. (Pro's of
laughter.)
It is Hot only the Journal du Commerce, and its old article that
is aimed at, but the Journal des Debuts also. The object is to
destroy the freedom of the Press. The Speaker declares that being
taken unawares he can only offer general considerations to combat
the complaint of his Honourable Colleague. The author of the ar-
ticle attacked began by rejoicing at the two decrees of the Cour
kayak. If this is a crime all France is guilty.
It is the last paragraph but one that has given offence., The ez-
pressions, however, are not stronger than thine employed every day
in the other journals.
N. R. M. Chiffet ascends the tribune after M. Mechin, to sup.
port the motion of M. the Salaberry ; N. Royer Collard defends the
journal accused ; M. Duteire demands that the Journalist shall
be punished, and M. Aries would have contempt_alone do justice
to him.

FRENCH FUNDS.—PARIS, FEB. 21.—Fire per Cents. W.
Three per Cents. 66f. ltle. Bark Stock. 2,000 f. Hente de
Napleg, 73f. Royal Spanish Loan. 474. Exchange on London—
One Month, 26f, 60c. ; Three ditto, 261; 26e.—Coure Art/weaves.
A Flanders mail arrived last night with Brussels Papers
to the Vld inst. Their contents are uninteresting.

Whether the of of the Memorial forwarded to Fife
?louse by the unanimous vote of the Mansion House
meeting will be acceded to will soon be known. In the
mean time the distress which prevails is spreading so ex-
tensively that we think it not possible that the interference
of Government can be much longer delayed. The referring
the mercantile embarrassments of the country to the Bank
Directors, and procuring relief through that channel, ap-
pears to be neither so effective nor so constitutional a mode
of proceeding as the prompt interposition of Ministers,
acting under the autltority and sanction of Parliament.
There is nothing in such a transaction which need shrink
from the light, and in all such cases an open and straight-
forward course is always the best. If it would be impru-
dent or impolitic on the part of Goientrnent to make any
advance by war of loan to the mercantile interests, we
see not how it can be wise or prudent on the pait
of the Bank to do that which Ministers refuse to do,
or on what ground they can be asked to afford that relief
indirectly, which those in office have directly and distinctly
declined as grant. If the measure is one of sound policy,
the less circuitously it is carried into effect the better. It
is snore consistent with the principles which at present go-
vern the conduct of Ministers, to grant a loan of Exche-
quer Bills on paper and efficient security, than to encou-
rage the Bank of England to enlarge the quantity of its
paper for the purpose of administering that aid which me,

deem it expedient to refute. It is a rest important fag,
that when the Joao of Exchequer Bills watipintud hi the
year 1793, commercial credit began to reopen' 4tsslf be-
fore those bills were actually delivered, No stronger
proof can be adduced to demonstrate die utility of moth a
measure at this moment. It may be deferred, but even-
tually it mutt be conceded. Thiap cannot go on etch
lonper in their present deplorable train. • It matters not to
what you ascribe the origin of the•evils that sureettind
us. You may refer them to overtrading—to Lied:iota
capital—to hqbble companies—to country banks-4o ex.
cessive speculations—you may refer them •to any one
of the thousand NUM which have all conspired, cure
or less, to produce them—but, after all, you are nethlog
the nearer. It is a waste of time to philosophise. The
mass of evil is before you ; and the only question worth
discussing is—how is it to be got rid of? It is of no we,
st this crisis, to read lectures upon the folly of overtran-
ing, when our factories are atia stop, and the great concern
is to set the wheels a-going. If those who, by their
prudent speculations, have brought ruin on themselves,
could be selected and set apart, it might, p:lliaps, he then
worth considering how far they ought to be left to auffer.
Our stoical apathy in such a case, though neither liberal
nor humane, might at least be pardonable. But to ext r.
vice the same cold and unfeeling discipline towards' the
whole mass of honest, upright, industrious intlit Wash.,
whom these speculators have brought into distress and
difficulties by tl.cir failure—there is nothing in this pro.
ceeding that can recommend itself to approbation, either
from its moral expediency or its political justice.
Our manufacturing districts cannot long continue in tie it
present stagnant and starving condition. It is not in the
power of Parliament to give bread to the labouring pupa-
lation ; much, however, may be done by a prompt and
judicious application of those means which are within its
reach, in staying the issues of calamity. But the reiief to.
be adequate must be immediate. The Bank u.ay do
much, but without the co-operation of Governinent its
best efforts must fail of their effect. It is the risible and
explicit intervention of Parliament that call alone quicken
the return of commercial confidence, and revive the energy
of the nation.

We cannot close our remarks without adverting to tie
disastrous state of the working-classes in the SiM. Trade.
The extremity to which they arc reduced endangers the
vital interests of all those great manufacturing districts in
which their looms are thrown idle. Whatever the poli-
tical Economists may think of it, this is not a time to feed
foreigners with their bread. To withdraw sev,n millions
from the wages by which their industry was supported and
their families fed, and to give by the same operation three
millions in hard money to the silk-manufacturers of Frat en
and Switzetland, would be a fearful experiment in the idst
of times ;—at the present period the consequences that
may flow from it are such as we are net willing to con.
template.
The alacrity with which contributions have been fors
warded to relieve the distress of Spitalfields is most exem-
plary; but we said at first—and we repeat it—the funds
of benevolence must fail ; it is hopeless to look to precari-
ous charity for the relief of permanent wretchedness. The
subscriptions raised amount to ten thousand pounds, and
by the introduction of foreign-wrought silks these weavers
have lost their employment, and with it their wages, which
in the aggregate amounted to ten thousand pounds n-ipeek
It is easy to calculate what private charity can furnish
towards the supply of so dreadful a deprivation as this;
The prospect is appalling. Humanity has no resource but
in turning aside from the anticipation of it.
We abstain at this late hour from offering any observe•
tions on the speeches of last night. The interest, as wEp
be seen, arose rather from the deep importance of the sub.
jects than from any additional arguments with whieh thefr
were enforced. In truth, all that can be urged, either its
the way of reasoning or remonstrance, has been exhausted.
The secession of Mr. Wit.sosr, the City Member, from
the Treasury Bench, excited a strong impression, which
could nor fail of its effect.

At half-past one this morning, the debate on the Silk
Question was adjourned till tchnight.
—....w.

CITY, THEIVDAY EVENING.

The malicious rumours that we noticed yesterday, and
the industry with which they bare been circulated, kept
the Stock Exchanges this morning in a state of extreme
agitation, and the meeting at the Mansion-house had not
the effect of allaying anxiety. We noticed yesterday that
the rumours with regard to London houses were false, and
it was proved this morning that none of them were founded
in fact. Although the City was free from reports to-dai,'
still the fluctuations in Consols were excessive, varyieg
between 761 and 77i in less than a quarter of an
'The last bargains were done at 76} 77. Lank Stock was ;;0i•
2051 205 ; India ditto, 226 288; and the Bonds 3s. Gs. 4s.
discount. Exchequer Bills were Is. dis. to is. prem.
The Liverpool Deputation on the subject of an ad.
vance of Exchequer Bills, had an appointment with Mr.
Huskisson yesterday morning. The combined Depatatioi
from Liverpool and Manchester will be received by Lord
Liverpool to-morrow (this day).
It is understood that Ministers persevere in their deter.
mination not to make the advances solicited; but it is
believed that Lord LIVERPOOL has intimated to thi.
Bank a desire that in conformity with powers imparted by
the charter, and provided for by the regulations of the
establishment, the Directors will make advances on the
security of articles of merchandise.
The decision of the Directors will probably be madp.
known at Lord Li VLRPOOL'S to-morrow. Wecan on good
authority state tbat nothing has occurred in the course of
this morning to alter the views of Ministers on the subject
in question, which is one that the eyes of all speculstors
are anxiously turned to, as the price of Snicks siill pr.,-
bably be regulated by the decision of the Bank as to its
making advances on mercantile property.
In the Foreign market the fluctuations are not important
as compared with those in the English Funds. Colotnliirt
Bonds were 4.5 44g ; Mexican Six per Cents. 87f SSA
Russian Bonds 771; Spanish ditto, 91 10; and Greek
ditto, • .'
The transactions in Shares were extremely limite4;
Money Stock continued scarce throughout the day.
•-•

, .
Yesterday afternoon, coon atter three o'clock, the 1.41
Mayor, Sir James Shaw, Alderman Bridges, Aldeienala
Thompson, Alderman Wood. and Mr. Thomas Wilsort
waited upon the Earl of Liverpool, at his house Fa •
Whitehall. The consultation occupied about an hour. ift
ter which the Noble Earl had an interview with the Chan.
cellor of the Exchequer and Mr. Secretary Cannin*
previously to his going to the House of Peers.
Yesterday the Portuguese Ambassador transacted bu.
sinew; at the Foreign-office, in Downing-street.
The preparations for introducing the silk manufaeturo
into Ireland are in active progress. Orr Monday the Seoz
dricus, Mertens, from Cette, in the South of France, era
rived in Cork, with 26,000 white mulberry trees, valued at
10,000/., and the property of the British. Irish, and Colo.
nial Silk Company. They are comigned to Geenge POO',
Esq. agent to the Compq, and are 110111
the purpose of being planted. Ten serer of the Earl of
s estates, near Afitchelstown, are shindy laid out
for them, under the directko of Mr. Young, an luta=
Scoisrnan.—The remainder the trees are to he pl
at Mallow and Neuman., County Kerry.—Freeinuree
Journal.