The British Press; or, Morning Literary Advertiser.
London, England, 1826-07-17 00:00:00

THE BRITISH .PRESS.

turbances in the Braailn. From these it appears that the
insurrection at Cameta had there assumed a character of
greater importance than had been previously attached to
it, the expedition sent against the insurgents having been
entirely defeated, with the loss of its artillery and about
forty wounded.

The accounts from the manufacturing districts, which
now lie before us, are of a nature to excite the greatest
alarm. They show clearly the necessity of some specific
measure. The landed interest must now feel that their
interests and those of the manufacturers arc the same.
The increase of the poor's rates is far more injurious to
them titan the Corn Laws could possibly be beneficial—
admitting them to be as beneficial as some persons sup-
pose them• to be. It is a fact that, in some parts of the
manufacturing districts, the poor's rats have actually ex-
ceeded the rental. As to the repeal of the Corn Laws,
therefore, as an ultimate measure, we do not conceive that
there can possibly remain the slightest doubt, and there
can be still lass doubt of the propriety of using the discre-
tionary power vested in Ministers for bringing bonded corn
into the market; but even these measures will not remove
the distress hit mediately , as employment will still be wanting,
and it has been sug;;ested that a sum ought to be advanced
from the public revenue. But we must look farther titan the
mere supply of an immediate want, and as the causes of
the distress lie deeper than is soppasal, we do not think
that a temporary measure of this sort—if not connected with
some measure by which the poor map be employed i 4 o-
frod, woald be at all 1 eneficial to the country or ad-
vantageous in the end to the manufacturing population them-
selves. Nothing but a firm persuasion of the importance of
this principle could induce us to insist upon it so obstinately
from day to day. To remedy the distress of the country, in
the first place, the Corn Laws must be suspended, and
in the next place, means of employment must be found
for the poor, not in making roads, however beneficial such
labour may be, but in the immediate object of necessity—
in augmenting the means of subsistence. The sea, in the
first place, cannot be said to be eshausted as long as we
know that the Dutch carry away the food of thousands
from the coasts of Scotland, and the land cannot be sup-
posed incapable of yielding further supplies while we have
the example of the rocks of Malta rupporting 100,009 in-
habitants by the produce arising from the soil imported
from Sicily.

CITY, SATERDAY EVENING.

Considerably more business hts been transacted to-day
than is usually the case on a Saturday, and the speculators
for a fall, of which there are a great number, received some
assistance from a report of the failure. of a Scotch Bank.
Consols fell, at the opening of the market, to 7SI, and a
great deal of money stock was sold at 79, without the
dividend. These sales would not seem to be in uni-
son with the large amount of money in the market ;
but it would appear that this amount of money is
merely local, and that the distress is as great, in point
of fact, as it was before the payment of the dividends-
It was a most important point for the dealers that they
should effect a further dt pression to-day, as, should Con.
soli for the Account approach 78, options to a large amount
would be brought into action. The oilier party have not
displayed less vigour in their proceedings, and the conse-
quence has been, that, with great efforts, they succeeded in
forcing the market to a higher scale than it opened at in
the morning, Consols for Money having advanced to 771
without the dividend, and for the Account (Tuesday) to
714 with the dividend. At the close of the market it was
understood that the Bear party Lad carried their sales to
too great a length, and that consequently the Account will
be a Bear one.

The principal feature in the Foreign Funds this day
was the realization of the anticipated failure in the payment
of the Colombian dividend, and which excited considerable
indignation in respect of the conduct of Mr. lii KT ADO, as
to the want of faith on the part of his Government in not
making the payments in question. As soon as it was po-
sitively known that the dividends would me be forthcoming,
several private meetings of the bondholders took place, in
order to consider the best means to be pursued. It was
proposed that a deputation should wait upon Mr. Hyu t ens).
in order to elicit from him an explanation as to the line of
conduct which had been pursued by those whom he re-
presented. This proposition was however eventually
abandoned, as not.likely to lead to any practical result ; and
-it was at length decided that a public meeting should be
held on Tuesday next, before which period it is presumed
some application will be made to the Government, in order
to obtain its interference or that of the Secretary of State for
Foreign Affairs. Mr. Nose's intrusive friend, P. P. ap-
peared, placarded on the walls of the Foreign Stock
Exchange, with his usual verbiage, wishing to be informed
how it was that Mr. Marano hail not, according to
good faith, paid the Colombian dividends. Judging from
analogy, we do not apprehend this circumstance will de-
preciate the value of Colombian Bands; for it will he re-
collected that, as regarded the Peruvian, when the inability
of that Government to meet its engagements with the Bri-
tish creditor became a matter of certainty, that Stock rose
S per cent.; and therefore it is not at all unlikely but that
an advance will take place in Colombian Bonds. It is a
matter of some surprise to observe that the Republican
Stocks have been abandoned by their original supporters,
who now have, as was said by Lord CASTLEREAGH, turned
their backs upon themselves, inasmuch as they have
adopted a decidedly different line of conduct. What are
the real feelings of the parties in question we know not,
but certainly their conduct is to be viewed with some sus-
picion, and we would not advise any sale of these Securi-
ties upon the faith of the depression which has been so oc-
casioned, because it may he, that as soon as the Stock has
been sufficiently depreciated for the purpose of these par-
ties, they tray come in and cause a rise as sudden as the
fall was unexpected.
In respect to the Brazilian Mining Company, it is asserted
that very flattering accounts have been received, and that
a meeting has been appointed for Wednesday, in order that
the same may be communicated to the proprietors, which
has caused an advance to 31. premium in those Shares.
Favourable reports also are received of the Mexican Com-
panies ; but they have not occasioned any advance in
those Shares. Its respect to Greek Bonds, they have
reached, in some instances, .12,!!; but they can hardly be
quoted at more titan 12. Northern Stock is rather scarce.

NEw GREEK LOAN.—Private accounts from Paris men-
lion a report in circulation, that an attempt will be made
to raise a loan in that city of 25,000,000 of francs (about
a million sterling), for the ()reeks ; and that M. Ouvrard
is to be the contractor, and manages the negotiation from
the interior of his prison.
Neapolitan Loan of 2,500,000/., negociated by Mr. N.
M. Rothschild in London.:—The half-yearly dividends in
this Loan falling due on ./Tuesday, the Ist August next,
will be paid on that and every succeeding day, between the
hours of ten and two, at Mr. N. Rothschild's counting-
house, New-court, Sr. Swithin's-lane. It is requested that
the warrants, with a list thereof in numerical order, may
be left one day for the purpose of being examined.
COUNTUY BANICS.—A public meeting was held at the
Town-hall, Lancaster, on Thursday last, the Worshipful
the Mayor of the Borough In the chair, for the purpose of
taking into consideration the propriety of establishing a
bank in Lancaster. It was agreed unanimously, that a
joint stock banking company should be established, on a
plan similar to the Scotch banks, in three thousand shares
of 100/. each, each person not to have a less number than
five, or more than 100 ; and a deposit of 20 per cent. only
to be called for during the first two years.
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