The British Press; or, Morning Literary Advertiser.
London, England, 1818-08-31 00:00:00

in the MetliterraiiPal, and silecr•?Jutl Rear-Admiral
Sir CHARI.Es PEN REM, K.C1.111 who is oil' his
passage home, iu the Albion, 7'1," Capt. Comm.

The Independence and Portimde Increased. front
St. Thomas's and St. Kitt's with cargoes of West
Indio produce, 11.1,..rii Ity Portsmouth no Monday,
for the 'liver, having landed several passengers.—
They report that Colonel Macins ALL), who had
shortly joined the Independent forces from England,
had been massacred, with many other British fa-
cers, through mistake, by a hotly of Indians : they
happened to fill in with the British Officers whilst
they were at dinner, and supposing them to be
Spaniards, they attacked them with such savage
ferocity, that they were all either killed instantly,
or died of their wounds. The Independent nava?
force, under Admiral Batox, is of so formidable
n description, that the Spanish ships of war (though
often in sight of each other) dare not attempt a
meeting. The Independent fl,et consists of twenty
squaresrigged vessels, and expected a further rein-
forcement, when, it was understt..od, they would
instantly commence offensive oporat:oun

By the Ana whaler, which saiiA from Callao
on the 4th April, Lima Gazettes to the 3d of that
mouth have been received. They contain no later
acconains respecting OISORIO'S expedition to Chili
than to the 14th March. His unopposed bolding
at Talcahuano, and his advance into the interior,
up to the above date, without meeting an enemy.
are mentiniced 1111 the harbingers of certain sneers,.
As the spirits of the Royalists would be elevated
to the highest pitch by the accounts of the action
of the 19th March, in which Ossoftto obtained a
temporary advantage, it may be conceived what
sensation the news of the destruction of their
army on the sth April would car►se in Lima. These
Gazettes merely notice the sailing of the British
frigate Araphion from Valparaiso~ without say
continent ; but they add, that an American corvette
(the Ontario) haul come out of Valparaiso to speak
with the Commander of the blockading squadron ;
that the American Captain had made many fair
li;Ofessions, and promised that the American vessels
should not, in case of reverse, take ally Insurgents
or their property away froin that port. The Ame-
rican Papers have given a ditleree:t statement of
the purport of this conference.

The funds continued to fall on Saturdry until
nearly the dose of the market, when having suf-
ficiently sported with the fears of the public, they
began again to look upwards, and proportionably
to restore the general confidence. consols, le.w-
ever, finally closed so low us 731=-Account 742.
We have been so long accustomed to consider the
Stock Exchange as a theatre, where the ingenuity
of one party is constantly devising 11104 OP to discon-
cert the schemes of the other, and where the cur•-
cess of either iu their speculations of avarice, i,
marked by an alteration in the prices of the market,
that we have in a great measure ceased to regard
the fluctuations in the funds as evidences of
any very serious impression on the mind* of the
buyers or seller., with regard to the political state
of the country. Such is the India ppy system to
wlirch we are subjected, that it belongs to any man,
irossesaing either large capital or extensive credit, to
disconcert the beat laid plans of the Exchequer,
and derange the whole fabric of our finances. The
prices of the Government funds, instead of belie,
indications of the public mind with rcgard to poli-
tical alraits, are
changes only to give occasion to vague conjectures,
and instead of being the result of a determinate
opinion, are become the causes of enii!eas specula-
tions.

It was therefore to be expected That the great and
rapid depression, amounting to nearly live per cent.
experienced during the last week in the prices of
stock, should have given birth to many coojectures
respecting the probable cause of so stringe on event.
Some were too fanciful to merit a moment's thought,
while others seemed to be in some degree at rengthersed
by the consideration of certain recent occurrences.
Fur our own parts, we can easily believe that the
funds may fall even five per cent. in our present
financial condition, without the toterverition of one
external circurustatice to agitate, itstereA, or amuse
the public.
The probability, however, of an arsproaching
War With the United Status of Norils America,
seems to have made a deep Surpres6sis upon the
speculators in the eily. loilependent of the cap.
tare of Pensacola, and the still-isisexpl.ained eXecu-
tic' of two British subjects, taken on neutral ter.
rilory, it is apprehended that in the Note lately
addressed by the Cabinet of Madrid to the Allied
Sovereigns, the sonrces of such a war may he traced.
This Note undoubtedly atiticiprites the Concurrence
of the Allied Sovereigns, and more particularly of
the Paiscr. REGENT or ENGLANe, the meas.
sures to be adopted by Spain for the toilsjogarion
of her IC:domes, and it is likewise certain that the
United States have ii.tlicted ars outfit!". upon Spain
which would seesii to throw them reins the ranks or
her antagonists. It Itto alto titiforrsumately happened,
that in so &nig the l.Teated States have ion eted
an injury upon England, whereby Powers
might be further disposed to take 'inverse sides in
the contest, and thus hostilities might be generated
between Great !intent and the I.Tioted States. Bust