The Sun.
London, England, 1825-12-02 00:00:00

[MORNING POST.]

We received last night,. by express. French
Papers to the 30th ult. and the Etoile of Wed-
ttelay. The continued decline of the public
fends, which had become as rapid in the Fives
as in the Three per Cents. is of course the en-
grossing subject of every Journal. Those of
the Ultras (and even the moderate opposition
Royalists are become Ultras on this occasion),
teem with exultation at the realization of their
oft-repeated prophecies, and at the anticipated
overthrow of the present Ministry. For this is
evidently the point at which they aim. Every
lower quotation, they conceive, brings down
power and places to their level. The Liberals,
on the other hand, who have no hopes of profit-
ing by the discomfiture of the Administration,
also claim credit for their prophetic foresight, but
express something like patriotic regret at the fa-
tal., confirmation which it is receiving. " We
-have announced these sad results," say they
through the Constitutionnel, " but we are far
from congratulating ourselves upon them.—
' We should always wish to deceive our-
selves, when we predict events injurious to
public prosperity." The Ultras and the Roy-
alists do not take the.trouhle to feign regret. They
see the ministry shaken, and- endeavour to lay it
prostrate by furious and repeated blows. It is
indeed difficult to believe that M. de Villele or

any Statesman in his situation should long be
able to resist the violence with which he is as-
saulted, backed as it is by the total defeat of
his financial plans. The following extract from
the Quotidienne will give an idea of the perseve-
rance and energy with which the warfare against
the present Administration is waged : " The fall
of the Funds continues with frightful rapidity.
All the Stocks feel the deplorable effects of
the system. The creation of the Three per Cents.
bears its fruits ; it acts upon all the Funds not
only of France but of Europe ; even the Five
per Cents., that old Stock which, for this year
past, remained almost invariable, stripped of its
amortissement in contempt of solemn words of
M. de Villele, yield to the circumstances which
want of foresight has created ; yet it must be
said, and repeated, without ceasing, the emis-
sion of the Three per Cents. has produced or ac-
celerated all those results. It is in vain to tell
us that the fall is common to all Europe;
for this is taking the effect for the cause :
since what moment does this fall appear in its
terrible rapidity ?—and what is there in common
between the slow and insensible fall of the funds
of Europe, before the system and the immense
decline of them, all since the unhappy concep-
tion of the French Minister? Twenty-four mil-
lions of Rentes, at 3 per Cent., endowed with
the whole of the amortissenzent fall in precipitate
ruin ; the Five per Cents. follow, and perhaps
the lightest action of the amortissement would
havArrested their fall. Thus our gloomy pre-
dictions are accomplished—thus Royalist opinion
has the pain to see the grand idea of restoration
put to the hazard. How ill have the royal inten-
tions of the Monarch been accomplished by
those who have precipitated our beautiful coun-
try into new misfortunes ! Yet let France
and the emigrants take courage. The Throne,
the source of all good, the hope of the
unfortunate, will repair our distresses ; let
u' address our prayers to it ; it will compre-
hend the wants of France, devoted and suppli-
cant, and which is in vain calumniated to deceive
it. The Chambers will second the Royal thoughts
of the Crown ; let our King say a word and
many consciences long repressed will freely
express the wish of a whole people. For the
rest the time for argument is past : opinions
have become facts, and arguments arithme-
tical figures, and then facts and figures ac-
cuse the administration, which has prepared so
many misfortunes add committed so many faults.
Let M. Villele lay his hand on his conscience, let
him see there, where is the cause of the decline of
our credit ; let him as himself whether it is in
his power to deliver us from the abyss which his
imprudence has dug. In our present critical si-
tuation we have reason to wonder that the Moni-
teur and the Etoile, lately so fertile in words to
entice the creditors of the State to a fatal conver-
sion, which now do not even deign to calm the
public alarm in the name of this Ministry, which
appears on this occasion to employ the organs of
its thoughts only to mislead opinion."