The British Press; or, Morning Literary Advertiser.
London, England, 1822-11-28 00:00:00

rir~

.......iif:l tli*oe- • .i..
iiki „b„ -1,
._, AtticitoT .4-•,.
~ • a the trim- till tit=tnoirolv. ille election 111 proceeding milli
ibis. more spirit now. Chaises of all descriptions are
)re have been arriving every moment filled pith votes. Every
inied by sixty thi - presents s scene of active blade.
'the Spedatettr ;
" It is to be
p• be arranged
the Ottoman

/OVEMBEZ 9.
'easel• under the
enter the port
Tote of carrying
Capt. Anthony
Aimee. which
•rna, in 19 days,
:s have soiled
lila, to demand

iptore of two
vied with cora
di Romania.
the-oews cf the sot-
tad fortress of Cimee,
v*lscli which
Soda, another

:orfu, as weN as
ipelago, that the
-apture at Da-

the harbour
, vessels. the
,000 Spanish
near Milo. -a
destined foe;

'Cheek 'De ptt-
designation of
Iheir residence
Verona, has
in tins town
25.
anal hustle and
!-coaches are air-
salon of strength
On the London
.lescription cannot
being engaged for
arrival and departure
parties during the
fiches to this
The hotels

. during the
mg the least
sum 'of one
you a COM-
_a in the house
houses which let
the students,
them and the
advantage of
immoderate
,hat they have
their trends, at
believe. Pro-
ituortioPett (1.!!!; 1
:mime 26.
:k, Dr. God-
by three bes-
From Queen's
_ the eleetion.
acrid, and pro-
of the officers
npening the pro-
of the Senate '
'odents, who
I by the pro-
. novelty, than
they took in the
inaenced imtne-
concluded. It
'lpted at other
permitted to
declaration of their
considered consist-

b.7sides that,
Itical feeling,

Ain
THE BRITISH PRESS.
_- - -

LONDON,
THURSDAY, NOVEMBER 28, 1822.
An express arrived in the forenoon of yesterday
from Paris, which left that city on Monday after-
noon. No fresh news of importance had been re-
ceived from Spain or 'Verona, now the great points
of interest. The rumour of war gained ground
from the circoanstance of its not having been con-
tradicted by the Government. It would seem,
from the business at Lloyd's, that a similar feeling
prevails liere. The insurance on ships from France
to the %Vest Indies, from captures only, rose yes-
terday to three guineas. It was done on Tuesday
at thirty shillings.
Paris Papers to the 25th inst. have been received.
The Proclamations issued by MINA, subsequently
to the taking of CasteUhl, and dated the 24th of
October, are published at length in the Constitu.
tionnel. One of these documents, addressed to the
inhabitants of the Seventh District, contains the
severest denunciations against such towns and vil-
lages as shall either afford succour to the factious,
or surrender ,to the rebel forces, except in a case
which would not justify any attempt to resist their
attacks. Should any important disadvantage result.
from persons in authority neglecting to give the
General information of the enemy's movements,
.thay are to be punished with death.
The 20th of this month was the period fixed for
the expitation of his amnesty.
Accounts from Constantinople state that much
dissatisfaction was excited by the appearance of
another Finnan, making a further redaction in the,
value of the new motley. The SULTAN was so sp.
prehensive of any disturbance among the Janina.,
ries, that he found it necessary to court their fanner
with large bribes. The taking of the capital et,
Candia by the Greeks is confirmed.
There is scarcely any variation in the prices of the
French Funds, which seems to prove that nothing
decisive has transpired relative to a war with Spain.

lesrued who must
election would
himself off in
iucted in such
(o discover the
, by the Vice-
isoal to make it
election. In the
1 two tables, at
of paper printed with
candidates. On these the
immediately entry it I()
is placed at the
he presides with
. side, who receives
voters as they come up,
ice-Chaocallor, who just;
small box, with a
admit the pa-
friend of each
it read of even
thrown into the
is discover the
a ides from what
the election pro-
hall hut those
are obliged to
few ladies pre.
Attains. The
litany spirit. It
will adjourn at
...pposed it will be
candidates will make

xharecters• presepW,-
Niirwich, sod Peter-
Villiers, Fortescue,
Hollingsworth,
. Grldart.
strongly !,red by
ecLoet;
Committees of the
- I could obtain
the poll, or in
Is, but none of
that each looks
'he heads of the
Imo to terminute
'rill not terminate

The extensive speculations at present carried on
in the securities of Foreign Governments, and the
new loans to which British capitalists are perpetu-
8110.1pvited to acce .ge an interest at the pre-
sent moment to the subject of nationai credit,
which appears to call upon us for such observations
as we think may be either useful or amusing to our
readers. o;
In order to divest the discnstion of soy of the
prejudices naturally arising from a consideration of
the immediate purposes to which the different loans
recently )iontracted with foreign Powers are likely
to be applied, as well as because it appears to be
an advantageous method of conveying clear ideas
upou the subject, we will first state the principles
upon which we think the comparative credit of dif-
ferent nations ought to be titillated, and then in-
dicate under each head how it applies to the various
borrowers, who now, tosether oar own funds,
compete for credit in the uscihey market of this
country.
It is an obvious remark at the outset, that the
existing high price of any government security is
by no means to be taken as a infallible criterion
Hof its permanent validity. A law rate of mercan-
Aile profit is necessarily followed by a low market
rate of interest, and this again by a high average
price of government securities. But a low rate of
''mercantile profit indicates that a nation is op-
• proaching, or has already reached the summit
of her commercial greatness; that her future des-
tiny is to retrograde, rather than to advarice; and
of course, that these shocks to her credit may be
especteil, which are the never-failing coocomi-
its of declension. We say, therefore, that
;ug high price is no proof of additional
security, since amongst the many causes by
which high price may be produced, there is
one, mod that perhaps more certain and power-
ful than any other, which is the unequivocal
prognostic of national weakness and decay. It re-
mains then to examine the different circumstances
in the condition or prospects of nations oo which
their public credit may rationally depend. First,
No debt can with propriety ,be called national, or
be secured by a valid national guarantee to the
lender, which is contracted by any government not
pommeling the respect, affection, or confidence •f
the people over whom it rules. It cannot be
doubted that carteris pasibus a representative go-
.
verousent gives a better guarantee for the perpetual
fuhilmeot of its pecuniary engagements than a
simple monarchy—nor that the security, as far as it
rests upon this basis, is good iu proportion as the
representation of the people is pure and perfect.
The financial history of all pare despotisms pre-
sents iis with a senor of unprincipled and un-
disguised defalcations, and the only instance of
financial fraud which amities the high and ho-
nourable character of the British Government,
would probably not have occurred if the na-
tional representation had been less imperfect.—
The instance of fraud to which we allude is the

,‘ •

-0...

. .
•
atoppage of cash payments at the Bent, which urs
unquestionably. a violation of faith with the public
creditor, et• the instant it took place, indepen-
dently of the depreciation of curreacy, by whiCh
"it was almoit necessarily followed. This measure
substituted a medium of payment to the public
creditor, of i nature litibertain, precarious, and
fluctuating, in the place of that used, secure, and
unchangeable measure of value, on which his con-
tract entitled him to depend. The change was
compulsory, end therefore a Manifest violation of
good faith. It may be said, that.by this change of
currency, the • public creditor was not placed in a
worse sitaatioh than every private creditor in the

kingdom ; but this circumstance, however it might
fora time disguise the character, or mitigate the
effects of the measure, could not essentially vary
its nature. There was, indeed, this material differ-
ence between the situation of the 'public creditor,
and that of any private creditor, that the new mea-
sure of value Was subject to be contracted or ex-
tended at the pleasure of Government—whilst it
was quite beyond the power of any private debtor
to influence its fluctuations. Government usurped
to itself the pnwer of paying the interest of its
debt in a currency of whatever 'sloe might be
most convenient to it; thus exposing its creditors
to the probability of receiving for the interest of
their loans, year after year, a value successively
decreasing. Tile effort now making to return to a
metallic currency, although from the changes of
proprietors in The government funds, it may not
afford a compensation generally to the individuals
who formerly aoffered, and cannot cure the evil
. of. the precedent, yet it does all of which the case
.odusiis to yellow, the credit of Government in its
prinsitive inter ity. This restoration, unfortunately,
can never its the nature of things be complete, and
we must always be com; wiled to confess the pecuniary
faith even of the British Governmeat is not per•
feed)? immaculate. The doctrine that public faith
is:some stream depends upon the degree of in-
fluence exercised by the people upon the conduct
of Government, is one, however, which scarcely
needs the support or experience. It is evident a
Mori that indirridusls, or select classes of men,
vie more subject to aberrations from the principles
of honour and probity, than whole nations. Sove-
reigns, or the lumbers of an aristocracy, having
the government of a country in their hands, might
be expected, even if we had no examples of it, in
no very long series of years, to find or to create the
occasion of casting off the burden of a public debt,
which dimiiii,hes by the whole amount of its iu-
Wrest their means of personal enjoyment, ambitious
enterprise., or sordid accumulation. Sack gtvern.
ments will at all times exact as much from their
subjects as they safely can, the interest of a public
debt will therefore always he coosidered by them
am so much clear deduction from a given fund sp.
plicable to lathe darling objects. The debts of
adlitiary ii;veruments will 'namely slsolk distin-
guished from those of free nations, in respect et
the purposes for which they have been incurred ;
and oationel obligations will always in popular
estimation be held more sacred if they hare
been contracted for useful or noble cads. It
is also manifest that the developensent of a nation'.
resources is greatly promoted when the 'dime, of
pop olar feeling generally "anal, the conduct of
Government. The frequent violation of iodivitheal
rights, or the establishment of injurious restraints
or monopolies, are as alien to the spirit of a freegol,
vernment as they ars hostile to the indastriiari-
commerce of • nation. Wily, Another important
consideratiou in estimating the comparative secu-
rity afforded to the funded property of different na-
tions, is the proportions is which it is held by the
inhabitants of the state and by foreigners. This
principle is indeed so obvious, as to have yea rise
to the absurd, though at one tilde very poreler epi-
nion, that provided the dell be wholly or prior*
pally due to the subjects of 1f state which had
contracted it, it is immaterial hip great its amount,
or what weight of taxation die ghyment of its interest
erecters necessary. This error, which we suppose
experience bus by this time served sulEciely to
explode, consisted merely, however, in carrying a
just principle beyond its proper bounds ; for it can-
not be doubled that the circumstance of newly the
whole amount of any national debt being doe to the
I subjects of the state, is one which matesielly lightens
its pressure, and fortifies its security. It appears
needless to enforce a priociple which is nearly self-
evident, we shall therefore merely remark, that its
application is pre-eminently favourable to the no-
tional debt of this country, mud directly hostile to
many of the foreign loans recently contracted for.
There are some other highly important conside-
rations connected with this subject to which we
shall take an early opportunity of adverting. The
amount of public debt already incurred by a na-
tion, compared with its natural resource., us a
means of estimating its comparative credit, is a
branch of this inquiry which cannot be omitted,
but on which it would be presumptuous in os to
speak without the greatest citation, since it has,
with reference to the public debt of our own coun-
try, baffled the inquiries and mocked the predic-
tions of some of the moat ingenious and philosophi-
cal economists that the world has produced.

Yestereay the Lords of the Council assembled at
the Council Office, Whitehall, at which were pre-
sent Earl HARRoWISY, Earl BATRUE.sT, Lord Col.-
euesTeh, Lord STOWELL, Sir JOHN NIcHOL,
and Mr. BECKETT. The ATTORNEY and SOLICI-
- attended their Lordships.
Lord WILLIAM BENTINCK transacted busineA
at the Foreign Office nit Taesilsy. 4

' - ....,,,,s` ,-:,,,,r-• 4
._ ' - ••• ' '
..• • •
. . _
; r•
i i k.*• - 1 •-
-• •
: I :
t
Y 6.
I 11, 1 r
' cent. It is said the Sultrili has p
i ,•
.. quillity of the Janissaries by large brio
l It.„) , Letters of rather a favourable natur
' I • I • received from Erserum, accompenie
Persian heads. The 73d Number of th
i•
Oriental remarks, with much naivete,
wished that the affairs of Greece may
p lIV -before ',Otter, and the return of tl
, , '-
J;r::, - fleet.
I
7"rl. TRIESTE, NOV
The Greeks have seized several vesse
i . . Austrian flag, while eudeavouring to ei
• .
1, , of Napoli di Romania, folethi purport
provisions-and stores toilie Turks. Ca
; • Gagrisa, commander of the brig Bien A
.1 t has just entered this port from Smyrna,
I „ •• . announces that two Austrian frigates
Smyrna for Hydra and Sp.zzia,
i I
I
ir
'' isfaction and reparation for the cat
, vessels, the Palenton and Heitman, lade
for the Turkisbgarrison of Napoli e
This Captain confirms also the-news
•
t render of the important town and foam!
which capitulated. The Turkish to
• were in the midi took refuge at Sul
I small port of the island.
i
I
t News has been received from Corfu,
from several other ports of the Archipele
• .
i Greeks have made a most important cap
wit
-
mietto, in Egypt. They tank, even in
of that town, forty Turkish merchant
i . '71,0
. I i
,• '.. cargoes of .which are valued at 260,C
fl I , •__ piastres. They have besides taken, on
1 ~
- .
0 , , ', brig loaded with arms and ammunition,
-- • • Constautioople.
c -.: The news of the admission of thel3l
4 'AL.- .., ties, Metrics and Tebelo, and of the de
:'i 1 •' ' the town of Rovendo us the place of th.
il
during the sitting of the Chngsess of
• i . ' been confirmed. The Greets living i
cesve great hopes on this account.
*: CAMBRIDGE, NOVEMBER
)lJ•
-- .4
* ' This town presents a scene of unusual
‘,.. -activity. Port-chaises and stage-coac
. :
`; riving handy, bringing a new accession
• ;-
if.
li
i. f, " k
to some of the rival candidates. On t
i J''" • - _ road, a horse or vehicle of any descripl
be procured for any money, all being e
i is 1 i o'. -'. the purpose of fatilitating the arrival ant
- .
I I i , of the friends of the different pettiest
- ' ~treat three days. All the London coac
town are engaged for the same time.
• , 1 • 1
~ _ here are determined to make a harvest
' • • t -,g, election. They ask, without exhibitim
i . ,•o
I ' scruple of conscience, the immoderate s
: ? ! ;L•'i guinea for a bed, mid they affect to pay
f i
i 1 I Aliment by giving you the worst bed in
for half that sum. Most of the houses ' ti
1 1 lodgiugs being already occupied by thi
i' 1 ' . • there is but little rivalship between the
• • . tiptr. hotel-keepers, and the latter take the at
i / • this circumstance by maintaining their i
I rices. They will tell you, indeed, the
711` 1 , • ' ' beers engaged by the candidates, fortiori.
i .
.„:iasim
geoineeafaevneirgyhder
t ;esbui . '"tis ! Ninon:, 'De) I
... ' 1 vor.me,.; '
1 ,si
• ,
•-.t
• 4,
,
: ••r - •
I'his.oloo RIeI•INPOT"C
YUSIDAY, NOTE,
. -•• morning, precisely at ten o'clock
trey,, she 'Voce-Chancellor, preceded Is;
,eies with silver maces,
_ proceeded fro
•. ' - College to the Senate House, to open I
E , , i ' Ji.‘laitnediately after the candidates enter?.
1
I ' 7.-emeded to the huitirgi, where one of
,t -A
, '''''''` ,'-- .. wrist through the oaualforme/o of open
i . ceedi6gs in Latin. The gallery of
• IX' 4- - ' ~Itteittee was immediately filled with sin
,heemed rather to have been attracted
, • ceeding, which to them must he a nc
from any degree of interest which they
A v. '• probable result. The election coronae
r
. i distely after the Latin discourse con
,' ,I' .1" 1 ; differs altogether from the mode adop
. 1 Ili
Irk elections. The candidates are not p
l, U- 1 r make any speeches, or even a declare
0 'I
1. l sentiment.. That would not be convict
i ant with the dignity of Alina Mater: I
t s, it may excite too much warmth of polii
• .
1 ;' • and where there are so many of the leers,
possess the eaccethes lorandi, the eli
,11 ?- not terminate till each had shewn hi.
figures of rhetoric. The election is condi
l , 4 • way as renders it utterly impossible to
I'i 1 ' ,I ' I' state of the poll, unless it is declared
••", t Chancellor, with whom it is not usoa
- s I. known till the termination of the elee
_
hall of the Senate House are placed t
fi. ''l44 each side on which are slips of paper
' i , '' the names of the different candidates.
voters write " Elect," and immediate
.it
,0, .
...
the Vice-Chancellor's table, which is
P 4 i ; ~' upper extremity of the hall. Here he
,0
4 a proctor and arrestor at either side,
' A ~ the slips of paper from the voters as II
"1 1 - 0,...00 brads them to the Vice-Chance
I he at, and throws them into a ama
slit in the cover, just large enough to i
, Around this table also stands a
of
:6 , g. • ' of the candidates, but who do not
-. • • 'Count the slips of paper es they are tt,
• i • - Thus it becomes impossible ti
' a .. ~.,
i.
.of the poll, or even form an it
1 i " II ...
in the ball, in whose favour the
,r
" / . Nose
i-4k , . c
.•
•are admitted into the I
- . t . .'' • • are entitled to vie. Spectators
1'
I' ,4. 0 '. ' •' .' go to the. •g aeries. • -There were a f
.• •
seat, but fen others except the st
• 4 ' ' election has not yet commenced white
seems to proceed tardily. They a
ir :I\.
j. three o'clock to six, srbeu it is.sopp
. 14 renewed with vigour, sod the caueltdi
1 4
great exertion.
1 .
*rootlet user distinguished -chats
, • 11 , we noticed the Deans of Ely, Niirwa
' I`. • • •., borough; Hoy. Messrs. J. C. Villie
i• 64 ' .4 . mid 'G. Spencer; Rev. Doctors I
Jetties Gilder% ,batten, and J. W. (
' Several eiberappeared to be stron
• . .. 11. ,'i
the scrotators au d ilunitillOri.
I':4 •, 6
1 , Two o%
k 1
. I
I have just applied to the CoCome
i': i 1 1 • .• .
...
. , -s.• '' vootendiug Candidate., to Pee if I
''.• int' information upon the state of t
k I t•
11 i * ' whose favour the election proceeds
them could give me more then tl
. . with confidence to the result. Thi
University would wish the election
1 this evening, but Imndenstand it veil
(1,11.41 ;I: ''
•
' lit %.,..ii• t, i .
..