The British Press; or, Morning Literary Advertiser.
London, England, 1826-07-29 00:00:00

THE BRITISH PRESS•

country is permanently increasing ; notwithstanding its oc-
casional reverses, it is always making a steady progress.
NVe may illustrate our meaning by the case of a vessel ad- '
vancing by long tacks, which sometimes proceeds through
the water with amazing rapidity, though not exactly in the
proper direction. It is conseqty ntly obliged to turn back
with equal rapidity in an almost retrograde direction ; but
when it reaches the utmost point of its return, it is still
found that it has Mile some progress from the point
where it' started, and in the mean time it is in readi-
ness to take advantageof the first favourable wind to advance
directly towards its destination. The trade of the
country is always in this progressive state. The circula-
tion must increase in a similar ratio, and therefore every
advance made in trade is a clear sum put into the pockets of
the holders of Bank Stock, and quite independent of their
regular profits on discount, &c. it would be very well that
a Government should possess such a privilege, even in a
despotic State, because it would give its members an ad-
ditional interest in promoting the trade of the country ; but
it would be very improper that any private company should
possess such advantages without being bound to snake ad-
vances and compensations for the service of the nation.
We most decidedly approve of the establishment of Branch
Banks, but only in the understanding that the additional
permanent circulation of bank notes arising from the mea-
sure, shall not he reserved entirely for the behoof of the
Shareholders of the Bank, hut shall be syplied, after de-
ducting the fair profits, to the alleviation of the distress
under which the country labours, in the way which we
have so often insisted upon. Here, then, is another of
the ways and means from which we might hope to derive
some immediate relief.

We are quite aware how ungracious a task it is to recom-
mend patience to persons in the condition of the Manches-
ter weavers; but the apprehension of unpopularity shall
not make us shrink from what we conceive the performance
of a paramount duty. It will be seen by the letter of our
Correspondent, in another column, that a Requisition has
been signed by certain parties in that town, to the local
authorities there, the object of which is to cause them to
call a public meeting, to petition his Majesty to assemble
Parliament, in order that it may repeal the Corn Laws
and reduce the national expenditure. This Requisition, it
seems, has received the signatures of very few of the respect-
able inhabitants of Manchester, inasmuch as they disapprove
of dictation to the Legislature, as to the measures they I
should adopt ; but it appears that the main point in the
Requisition is approved by the majority of the inhabitants;
and we are sorry for it, because every day's experience
more strongly convinces us of the inability of Parliament
to dissipate the embarrassments of the country. The pre-
sent distress may very easily be accounted for in the exci-
tation that was afloat in the early part of the last year, oc-
casioned by various causes, every one of which had a
direct tendency to promote over-production. Amongst the
most prominent of those causes was the diminution of
taxation, which began to operate to a much larger extent
than at any previous period of the peace ; the freedom of
the intercourse with the South American States; and the
anticipation of the non-restrictive system being acted upon,
together with the actual commencement of liberal princi-
ples with Tigard to the Navigation Laws. That the free
trade system has increased the present distress beyond
what the announcement of it caused in over-produc-
tion, we do not believe; but if it had, what remedy
can Parliament apply to it? It surely could not re-
trace its steps when we are in the centre of our diffi-
culties, with a land of promise before us if we manfully
sustain them and proceed, and a desert of wretchedness
behind us if we turn back. The question comes, we
admit, in a most powerful shape as to what is to be done
with a distressed population ; anti although we assert that
neither the Parliament nor the Ministry can by direct
measures afford relief, we will yield to no one in our
anxiety for the alleviation of distress, which we think
can only be obtained ultimately by increasing the means
of human subsistence, and temporarily by the efforts of

Ctrii, FRIDAY EVENINU.

The Money Market to-day has presented an improved
appearance, Consols, which openel at 771 !„ having ad-
vanced to 771 f buyers, although money is as abundant in
the market as ever. As no Foreign intelligence has ar-
rived to aid this advance, it is generally attributed to the
reports of the probability of a speedy reaction in respect to
the manufactures of the country. It is understood that
the Deputations that have waited upon the Government
have represented that the stocks on band are beginning to
decrease, and that, if relief can be extended in the way pf
charitable donations for a short tine longer, there is every
probability thrt the services of the labourers will, ere long,
be called into action. Whether thess statements have had
the effect produced, or whether the bears have taken an
alarm, may equally be matter of conjecture.
In Foreign Stock there is also a trifling advance of about
to i per cent. ; even Spanish has improved in that ratio,
being at S. Mexican are at 49, and Colombian 33.
The continued beautiful state of the weather operates to
render 'the Corn Market still very dull and heavy, at prices
full as high as at the begirnieg, of the week.
In Colonial prOduce there is more dome than for some
time pst, and at rather better prices. The low ebb to
which they had attained was matter of serious and well-
grounded regret.
Looking at the state of the Markets g•merally, this day,
there is certainly an appearance of more vigour and anima-
tion about them than they have displayed for some time
past; and therefore, judging from the opratioos of a
single day, things may be said to be a shade better.
Exchanges display the slightest passible vat iatiori.

The Duke of York took his daily ride on horseback, on
Thursday.
The Princess Augusta visited the Duke of York yester-
day, at Mr. Greenwood's villa, at Brompton. •
Mr. Secretary Peel has had scvcral interviews with the
Mike of York during the past week.
On Thursday the Cabinet Ministers dined with Mr. Se-
cretary Canning.
Yesterday afternoon, at two o'clock, a Cabinet Council
was held at the Secretary of State's Mice for Foreign
Affairs, which was attended by the ord Chancellor,
the Duke of IVellington; the Earls ofL Liverpool, Ilar-
rowby, IVestmorland, anti Bathurst ; the Chancellor of
the Exchequer. Mr. Secretary Peel, Mr. Secretary
Canning, Viscount Melville, Mr. liuski3son, M-. Wynn,
&e. The Council broke up a few minutes after five
o'clock.
Yestrwlay, shout half-past twelve o'clock, the Earl of
Liverpool received a deputation of manufacturers, said to
be from Wrminghant. The hancellor of the Exch(quer
• and Mr. S:cretary Peel, atC tt titled the Noble Earl to
receive the deputation, which remained with the Mi-
nisters about three quarters of au hour.
Ytekrtlay, after the breaking up of the Cabinet Council,
t the Chancellor of the Exchequer left town for Charlton,

in Kent.
LI r taroor., Juz.v 4f.—This day we have had a better
demand for Cotton, chiefly el low bwoeda, and about three
thousand bags disposed of, at prices rather better • in the
week* about six or seven thousand bags have been sold,
chiefly to the tittle.