The Sun.
London, England, 1825-06-24 00:00:00

THE LONDON JOURNALS.

DAILY
Extractsfrom the Morning P (vers , June 14, elBs.

[NEW T)MES.]
The principal business in the House of Com-
mons last night was the debate that occurred on
the motion of Mr. Fowell Buxton, respecting
Mr. Shrewsbury, the late Missionary at Barba-
does. The llon. Member entered into a length-
ined and precise narrative of the circumstances
of the case, and described very minutely the in-
sults and persecutions, and brutal attacks, to
•which Mr. Shrewsbury had been exposed. Mr.
W. Horton replied to the statement made by
Mr. Buxton, without seeking to justify the out-
rages which had been committed, and very judi-
ciously avoided all topics which might cause fur-
ther irritation, and therefore complained of the
introduction of the case of Mr. Smith, in con-
nection with the question under discussion. Mr.
W. Smith, Mr. Butterworth, Mr. Canning, and
other Members, took part in the debate. An
Amendment was proposed by Mr. Canning, de-
claratory of the determination of the house to
support the Governor in the execution of the in-
structions sent out, directing him to " afford
ample protection and religious toleration to all
classes of his Majesty's subjects in the island, of
Barbadoes," which was finally adopted. The
Bill to repeal the Laws relating to time Combi-
nation of Workmen was read a second time,
with the understanding that the evidence given
in the Committee would be printed on Saturday,
and that the discussion on the Bill should take
place on Monday next. Some alterations were
proposed in the Spring Guns Bill.

[TII£ Pt'BLIC LEDGER.I
The statements respecting the Greeks will be
found to be most contradictory. In one account,
aaid to be official, the most brilliant success is
claimed for them over a part of the Egyptian
fleet at Modon. The Greeks attacked with their
fieeships, and the result was, the destruction of
20 vessels, which were anchored under the guns
of that fortress. Of these, two were frigates,
three corvettes, five brigs of war, and the rest
transports. The conflagration is stated to have
communicated itself to the fortress ; and the
town of Modon, for five hours, appeared one
volume of flames, at the end of which a terrible
explosion took place. The Bulletin, published
by the Greek Admiral, then says :—" This leads
us to imagine, that the powder magazine took
fire, and in that case, every one, and every
thing there, must have perished." If this sup-
position be correct, an eye-sore to the Greek
cause is removed ; for Modon had remained in
the possession of the Turks since the commence-
ment of the war; and the Greeks had men ra-
ther accused of great apathy, in having suffered
it to remain so long in the hands of the enemy.
We therefore regret that Admiral Miaulis did
not stay to ascertain whether his supposition was
correct or not. However he left the place, with-
out instituting any inquiry, as he was at Cala-
mata three days afterwards; and, in admiring
his courage, we are astonished at his want of cu-
riosity, particularly in a case olsuch importance.
Of the Egyptian ship.; that escaped, and which
were pursued by the Greek Admiral, nothing is
said ; and of the crews of the burned vessels, no
mention is like% ise made. We must therefore
say that the bulletin is as slovenly as the action
to which it refers, has been decisive. The source,
too, from which this official statement has been
derived, remains a secret ; and we wish that at
least, for the future, these matters would be laid
before the Public in a form less liable to ob-
jeclion.s.

[BRITISH PRESS.]
It becomes important, as the day approaches
when the new Spanish Loan will be brought out,
to consider the principle on which it is under-
stood to be founded. The King of Spain, on re-
gaining his absolute power, thought proper to de-
dare all the acts of his Government, under the
constitutional system, null and void. Among
these acts he included the obligations he owed to
his foreign creditors on account of the loans raised
under his authority, partly for the maintenance
of his Court and Family. In cousequence of this
scandalous fraud (for by no milder name should
it be designated,) the bonds of the Cortes, as they
are called, have, for a great length of time, been
at an exceedingly low price in the market. His
Catholic Majesty is now willing to allow these
bonds to be admitted in subscription to a new
loan, but only at a rate much below the value for
which he originally issued them. In the first
instance, having bound himself as solemnly as
any debtor could, he openly and ostentatiously
violated his engagement, on a pretence which, if
allowed, would put an end to all public faith.
He now proposes to take advantage of the wrong
lie has done, and buy up his dishonoured bouiL
as cheaply as he supposes the wants or despair
of his creditors will induce them to part with
their claims. fie refuses to pay, not on the
ground of insolvency, but because he will not
acknowledge the justice of the debt ; and he
himself fixes the rate of composition at which, in
his sovereign pleasure, he consents to extinguish
demands upon his treasury. If he would declare
himself insolvent, and put all his creditors upon
a fair and equal footing, there could be
no objection to the proceeding. In such
case, each creditor must_ take what the State
could afford to pay him. But Ferdinand
singles out a particular class of his creditors ;
and because it is his Royal will, insists upon
• their accepting a composition in lieu of their just
claims. The question which the Stock Exchange
have to decide is, whether so monstrous a breach
of faith shall, for the first time, be permitted, and
naade a precedent for other Sovereigns and States
to follow ? The amount of the composition is
immaterial. If it were 99 per cent. we should
As strongly object to the principle. It would be
well, we think, at this moment, if the bond-
holders were to meet and concert measures in
defence of their rights. If they silently ac-
quiesce in the injustice with which they are
threatened, they will be fit to be enrolled among