The Sun.
London, England, 1822-07-20 00:00:00

CITY, FRIDAY EVENING.

Several Mails arrived this morning, but no political news o;
the slightest importance have been received by any of them.—
This is not a French post day, and no private express has ar.
rived either from Paris or from Madrid.

This was a holiday at the Bank, being the Anniversary of the
Coronation of King GEORGE the FoURTII. It was not, how-
ever, held so sacred as to prevent any time bargains in the pub-
lic funds. The Consol Account for August opened at 795
and did not undergo the slightest variation during the day, the
closing price being the same as the opening one.
In Foreign Securities no extensive operations have this day
taken place. The French Dives are nominally quoted at 91 25.
The Prussian old Fives are 87a a 88, and the last Loan 855. i.
Columbian Sixes are 83i a 84, and the Scrip 84h Spanish
old Fives 625, and the new 61i At the closing of the Ex-
change, there was an increased demand for Spanish Securi-
ties, and GU was the price offered for Messrs. Hope and
Co.'s Five and a Half per Cent. Loan. It did not, however,
find any sellers at this price. The Danish Fives are 86i. The
Neapolitan 71. Russian Metallic Fives 78 ; and the Austrian
Fives have found a buyer at 78. Chili stock is dull and lower ;
the nominal price is 79$ The Russian new Loan apparently
is uncommonly heavy at 811 ; it is, however, rather a private
than a public loan, and extensive transfers may be made in it
without the knowledge of the public. These loans of the sur-
plus capital of England to foreign states are in unison with the
first principles of free trade. They give an interest to the British
capitalist for cash, which cannot be used at home without great
loss, and they enable foreign nations, to employ British manu-
facturers, and to pay them for their production. Not a pound
can be sent from England which English industry and mind
will not again draw back for labour, and if the lender can secure
to himself a good rate of interest, which it is universally
admitted he could not get in England at present, he creates by
his loan a demand for British productive labour from abroad,
and he also secures to himself a fair profit for his capital.—
Many Gentlemen think that this surplus capital would be
more profitably employed by investing it in the British Funds
they do not reflect, however, that wherever there is a buyer
there must be a seller. They also do not reflect that the profit
to be derived from the British Funds is now fixed ; that 791.
7s. 6d. at present commands 31. of interest annually, and that if
the present price of Consols were advanced 'to 1001., still the
interest would be only 31. England would be more flourish-
ing were there a more extensive demand for her capital ;
and if agriculture, commerce, or foreign wants, were to create
such a demand for money as to reduce the Consols to 501.
or 601., it would be a sure sign of prosperity, for such events
would give full and productive labour to the people. Unem-
ployed capital is a sure sign of individual misery and national
decay. Abundance can only be in the hands of a few, and
when they cannot profitably use it, want of work and low
wages, misery and crime, are the certain consequences to the
productive classes.
The Foreign Exchanges are this day generally lower. On
Hamburgh, the price is, 37.61. a 37. 6..; Paris. 25.65. a 25.60. ;
Amsterdam, 12.6. a 12. 5.3 ; Rotterdam, 12. 61. a 12. 6. and
money remained over on all these places. At Hamburgh during
the first 6 months of 1821, the import of Sugar exceeded 50,000
and in the same period of 1822, only 13,000 tons arrived. Still
the demand is heavy and the stocks large, principally because
there has been little demand for the Russian empire. The want
of money on the Continent paralyses trade, and restrictive re-
gulations daily deprive merchants of the power of benefitting
^` the human race..—( Morning Chronicle.)