The Sun.
London, England, 1825-09-23 00:00:00

speculation, and embodied, as it mast have been,
in the shape of gold, would act precisely like that
over-issue of paper of which the Bank has been
accused, in raising prices, compelling importa-
tions, and creating against England an unfavoura-
ble condition of the exchanges. But the remedy
will flow from the disorder itself—extravagant
prices must fall, where there Is no forced paper-
circulation. Ad verse exchanges must correct them-
selves by a physical necessity above all controul or
obstruction. The imports cannot long exceed the
exports, any more than the precious metals can be
furnished ad infinitum by capitalists, to supply
the balance. Let us then have no more laW-
making upon the subject of exchanges or cur-
rency—let us not dabble with questions which
always in the long run adjust themselves, and in
a manner more commodious for the general inte-
rest than has ever h.'en accomplished by the le-
gislature. Some wholesome laws against stock-
jobbing may be necessary ; but we wish not to
go much further.

[saw msEs.]
The attack on the Bank Directors was renewed
yesterday, the sapient Editor of The Times hay-
ing sounded the trumpet before him in an article
more than usually asinine. The leading orator on
the occasion appears. to .he one of those worthy
Gentlemen who think the public has an indis-
putable right to know every thing. It is true
that he demands the,production of the Accounts
only as a Bank Proprietor, but it is quite cer-
tain that it would be making them public pro-
perty. They would naturally slide into the
newspapers, and every item would undergo the
profound remark, or the severe reprehension,
of Messieurs the Editors. We w ish to know
where.this omnivorous appetite for information
is to end. Must every bill discounted by the
Bank be stated in the newspapers ? Is every
merchant's ledger to be opened to the inspection
of the writers of reports and paragraphs' lf so,
Paul Pry is but a type of the.curiosity of the
public. An Evening Paper, echoing the bray of
the morning oracle, exclaims against " the myste-
rious veil" which covers the transactions of the
Bank of England, just as if the same mysterious
veil did not cover the transactions of every other
Bank. The Directors yesterday evinced the
utmost readiness to give all the information
that could be at all necessary or useful ; and
in fact the replies of the Chairman to several of
the questions put to him, -served to correct many
erroneous impressions that hack
.prevailed out of
doors. It appeared from his statements, that the
amount of Bank paper now in circulation is less
by 400,0001. than it was this time twelve month,
and that the total amount of Exchequer Bills sold
within the last three months, instead of being
seven millions, as was rumoured, - has been only
670,0001.

[MORNING rosT.l
French Papers to.the 21st inst., and the Mode
of Wednesday, reached us last night by Express.
They contain but little news, and abound with
reflections respecting the conduct which we are
likely to adopt towards Greece, and the prodi-
gious increase of influence which we have acquir-
ed over all the Cabinets and Sovereigns of Eu-
rope through our new and liberal system of po-
licy. With regard to our conduct towards
Greece, it seems to be generally expected that,
consistently with our high character for en-
lightened principles, justice, and humanity,
we shall not reject the prayer of a deserted,
betrayed, and perishing people ; but that, with-
out directly accepting its Protectorate or sending
fleets and armies for its relief, we shall use the
right with which the application of the Greek
Government invests us, in a manner calculated to-
produce such a degree of unanimity amonz the
Christian Powers, as will prove more effective
with Turkey than the unsheathing of an indivi.
dual sword. The Journal des Debuts even goes
farther. It intimates that as Austria at this very
moment occupies the kingdom of Naples, and
France that of Spain, " contrary to the positive
letter of treaties," so England might take Greece
under her special protection without giving
offence to any member of the Holy Alliance.—
It even adds, that " by recognizing the legality
of the blockade decreed by Greece, and by
submitting to it, England has de facto acknow-
ledged the independent existence of Greece,
and may urge this tacit and antecedent recogni-
tion, as .a ground for accepting the Protectorate
which the Greeks, whose independence she had
thus admitted, have offered to her." There is
certainly •much truth and strength in this rea-
soning, and it is-gratifying to see, that whatever
step we may take in favour of the Greeks, we
may rest assured beforehand of the approbation
of those, whom national jealousies might have
been expected to actuate, but who lay them down
frankly on this occasion, and proclaim themselves
" ready to applaud the deliverance of Greece,
from whatever quarter it may proceed."

[Barn srt rums.]
Exchequer Bills, which were last week at a
discount, continue to fluctuate, but the premium
they reach is very slight. It is not unnatural that
this circumstance should be considered by many as
indicating some failure in our financial prosperity,
but the effect is owing to no such cause. It is,
no doubt, to be regretted that they should ever
fall to a discount, but the real and obvious rea-
son of their No doing is—that the interest upon
them is reduced too low, and, until it is raised,
it is too much to expect that they will be so much
sought for in the tnoney-market as to bear any con-
siderable premium. The lowering the interest from
twopence to three halfpence was not, in our opinion
politic, -as a measure of financial economy. It is
the difference between.f,ll. 03.10 d. and //. ss. 7d.
which alone occasions their depreciation. This
difference cannot be to the Government a saving
worth obtaining at the risk of bringing its bills
to the condition of a depreciated paper currency.
The prodigious facility afforded on emergencies
by the issue of Exchequer Bills, is aid of all the
great commercial and•financial operations of the
Government, must nia'ke it essential that their
credit should at all times stand high. At 31.05.10 d.
they will he always in demand, aS an investment
for floating capital. At that rate of interest, any
person looking to an interim einPloYment of his
money, will prefer purchasing•ExChequer Bills