The British Press; or, Morning Literary Advertiser.
London, England, 1826-07-31 00:00:00

must be, of the solidity of the basis on which our national'
prosperity rests; he stated his conviction; be braught for-
ward his calculations, and mentioned the conclusions to be
drawn from them. He is not to be blamed if people drew
false or exaggerated conclusions beyond those which he
suggested. We do not meat. to assiime the language of
apology when we ought to use that of panegyric; and the,.
attacks of Journals whose nit is always to rail should not
have induced us to make even thee few remarks, if we had I
not otserrrd that some wtitersjscenstomed to appreciate
with considerable justness the merits of the present Admi-
nistration; have thought it necessary to take up the pen on
this occasion. For our parts, we have not the slightest
oljection to admit the falling off in the revenue dur-
ing the late quarters. We differ from the Opposi-
tionists only in one particular. We consider the
decrease, not as a proof of want of foresight in
his Majesty's Government, but as a 'severe and effectual
chastisement on speculators for neglecting to attend to the
warnings which were so often thrown out, in order to re-
strain their rash attempts and unprofitable exertions. In
fact, the late crisis is nothing extraordinary. A person ac-
customed to reflect on history, could easily have foreseen it•
Not a single war has ever terminated in this country, with-
out producing distress in the first instance, ridiculous spe-
culation in the next, and conseqUent distress afterwards.
It is even to be feared that another era of mud specula-
tion trill follow the present season of Andreas,. if Ilse
people do not take warning by the recent calamities, as
well as by the history of former ages. For our parts, we
deprecate any resumption of the ohl schemes of trade,
even if they should have the effect of temporarily relieving
the distress of the labouring population. It is not an
easy lemon for a hotly of merchants to learn, but it must
he learnt, to employ only as much labour 'and capital
every thy as will supply the consumption of that .day.
Hume says, that a rise in the price of provisions is benefi-
cial in times of scarcity, by obliging men to contract their
consumption. This principle is the basis of political
science, and on the same gronntls we assert that occasional
re-actions are necessary in seasons of sanguine speculation, in
order to check the useless employment of human labour
in manufacturing more than is reiuired.

CITY, SATURDAY VIEWING.

The speculations for a rise in the Funds have been con-
tinued to-day, but they have not been carried to so large
an amount as yesterday. The improvement, nevertheless,
on the closing quotations of yesterday afternoon, has rather
exceeded g per cent., and on those of Monday l per cent.
The firm state of the market appears to have occasioned
very general surprise, as, at the commencement of the ac-
count, the jobbers got rid of stock, not only in the regular
bargains, but indirectly by options, under the conviction
that the distresses experienced not only by the commercial,
but the manufacturing interests, would absorb the major
part of the floating capital arising from the payment of the
dividends. It is 61,4 to guard against the losses sus-
rained by these transactions, that the Jobbers have been
compelled to make large purchases, although much against
their inclination, being still willing, by wagers, to back
the rise against the fall, during the whole of the Account.
The last price of Consols for Account yesterday afternoon
was 77j; opened this morning at 77i, and advanced, with-
out any re-action, to 781 buyers. Consols for Money
touched the same price. An effort was for a time made to
bring about a re-action, a few of the brokers effecting sales
of Consols for next week, anti the Account, but did not de-
press them below ; the closing price was 78i. Reduced
Annuities have not been sold higher than 78/; making
the difference between this Stock and the one just men-
tioned not more than ; per colt., whilst on the last settling
day, and for some days subsequent, Reduced Annuities
were sold much above their proportionate value. The
Four per Cents. have been sold as high as 93g, but in the
New Four per Cents., or the Scrip, there has been scarcely
anything doing.

The demand for Exchequer Bills has rather increased,
and those which were sold yesterday at Its. premium, have
to-day fetched 14s. premium, while the more current price
of India Bonds has been 20s. premium.
Foreign as well as English Stock has been sought after

to-day, but the quotations have not undergone any mate-
rial alteration. Russian have been sold at 625, and still
appear to be rather a favourite Sto, k for investment. Aus-
trian and Prussian must be quoted nomirally only a shade
higher. If we may judge from the little speculation in
R_•publican Bonds, the account fixed for Monday is very
nearly settled, and the principal part of the business will
be that of adjusting the differences. Mexican, which
opened at 4SI, has this afternoon been done at 50. Colom-
bian rose to 331. fell afterwards to 321, but closed at
within per cent. of the highest price during the day.
Peruvian Bonds have risen from 251 to 26.

An account appeared in a Morning Paper, with parti-
culars of the Kings departure from his Palace, after hold-
ing his Court on Thursday, which, in several instances,
was very incorrect. It observed upon the King not hav-
ing a military escort, which is no novel circumstance. It
is stated that there were no police officers, whereas there
were about a dozen.

Friday the Princess Augusta visited the Duke of York
at dlr. Greenwood's Villa, Brompton Park, and took leave
of her Royal Brother previous to her leaving town for the
season. The same (lay Sir Henry Ilalford attended the
Royal Duke. On Saturday Mr. P. McGregor attended his
Royal Highness, and reported that the Royal Duke was
going on as well as could be wished. In the evening his
Royal Highness rode nut in his open carriage, and passed
through St. James's Park.
The Princess Augusta left her residence in the King's
Palace, St. James's, on Saturday morning, in her carriage
and tour, tur her seat at rrognua e•
Saturday morning, Earl Ilathuratleft town, on a visit to
the Elrl and Countess of Harcourt, at their seat, St. Leo-
nard's Hill, where the Countess Bathurst had arrived the
prucetling day. The Noble Earl and Countess will pro-
' ccrd from St. Leonard's Hill to their scat in Gloucester-
' slam, for the season. _ _

tiorday morning the E trl of Harrowby left town on a
tour. The N.,ble Earl embarked on board a steam-packet
at the Tower-stairs for Calais, at six o'clock, and proceeded
to Genera, on a visit to his son, Lord Sandon, where a re-
sidence is engasttel for several weal. The carriage and
lu.,gage oldie Noble Earl were shipped on Friday.
Ir. secretary Canniug left town yesterday morning (it
was understood) for the residence of Sir George iVarrender,
at Lochcad.

Tim LATE ELOPEMENT.—The fashionable world are lost
curprise' the parties being both very young. The Lady
left behind her all her valuable jewels, and even her purse,
containing nearly a hundred sovereigns, on the toilette-
table. So high-minded was she, in consreinence of having
brought no fortune to her Insband. 'I he seducer, the
same age as the husband—namely, twenty-five, is the son
of a General Officer much esteemed by our Isle King. The
elopement tool: place at the hour of one in the morning of
Tuesday last, from the town house of the husband, who
was absent from London. The frail fair fled, without bat
or bumaet, to a neighbouring street, where a barouche and
four were in waiting. Not one of servants was in the
secret. The husband is rich, but the paramour poor !
The English Gentleman, Sunday paper, states that the
favourite gentlemen of the long robe are said already to
have received briefs marksd with. these words " C.C. Ast!ey
c. Liarth.