The Sun.
London, England, 1825-12-13 00:00:00

sent for by Ministers to learn the real state of
the Funded Property, and the actual circulating
medium necessary to relieve the want so clearly
exhibited. Whatever truth there was in this
last, the others were generally disbelieved ; but
yet this, with a knowledge that only one house
(Sir Peter Pole's) had really stopped, contri-
buted to remove, in a great measure, the alarm,
and Consols for Account closed at the improved
price of 834.

[MORNING CHRONICLE.]
If the bank were to pay the next dividends on
the 20th of December, instead of waiting till
they become due, a very great relief would
thereby be afforded in the present embarrass-
ment, and much distress throughout the country
would, in all probability be prevented. The
bankers are obliged to be prepared for the pay-
ment of the quarter's taxes, for which purpose
they cannot avail themselves of the dividends,
though the latter follow the former almost imme-
diately ; but if the accommodation of this antici-
pation were afforded, the bankers would be
enabled to pay out the money, which, in jus-
tice to themselves, they must now retain in
their hands. We can see no objection to this
measure, which, in a time of alarm like the pre-
sent, might be attended with the most beneficial
results. Indeed, it is impossible to calculate the
benefit, at a period when long established houses
are every w here para lysed for the most trifling SUMS.
An observation in the Chronicle of yesterday has,
we learn, been misconstrued. " The exchanges
(we said) are already so high, that gold and
silver are below the mint price. The contraction
of the paper as necessarily raises the Exchanges
as its extension lowers them." An inference has
been drawn from this, that we wished to have it
believed that the Bank had actually contracted
its issues. In fact, we undersand, that so far
from this being the case at present, the Bank
were never more liberal than at present ; and yes-
terday in particular the conduct of the Bank gave
the highest satisfaction. But the circulation of
paper generally throughout the country must have
been very much contracted by the want of confi-
dence in country banks, and the embarrassment has
forced goods extensively into the market,and tempt-
ed purchasers from every quarter. The cotton spe-
culation, which was productive of so much dis-
tress in the north of England, terminated by at-
tracting foreigners to our markets, who purchased
that for which our speculators had paid a high
price at a much lower price. The result of all
this is, the influx of gold and silver into the
country, and the consequent rise of the Ex-
changes, and the place of country paper will,
in many places, be supplied by gold. The
gold and paper cannot both circulate, and there-
fore if gold circulate more extensively there
will be a contraction of the paper. No doubt,
the want of confidence for some time will induce
people every where to retain a much greater
amount of cash by them, to be prepared for un-
foreseen demands, than they would think of
doing in other times.—The present state of alarm
cannot be of long continuance. Those houses
throughout the country which are in straitened
circumstances, must soon sink under the pressure.
Those who can sustain the immediate shock
may be said to he out of danger. When it is
seen that the evil does not spread, confidence will
be quickly restored. When the effect of the
failure of Pole's Bank on their country corre-
spondents has been ascertained, we may Chen
say, that the storm has nearly spent its
ravages. We must repeat, for the hundredth
time—throw banking free, and it will of
itself take that direction which will be most
beneficial to the country. At present, and
in all times of difficulty, the want of confidence is
greatly increased by the knowledge of the cir-
cumstance, that on account of the Bank of Eng-
land monopoly, the country banks must neces-
sarily be established on too narrow a foundation.
There is no reason why a thousand or ten thou-
sand men should not, as well as six men, consti-
tute a Banking Company, in any part of England.
If the people were to give a preference to banks
with small capitals, then, in God's name, let
them gratify their inclination ; but at all events
give them the option of dealing with any description
of bank which may be most acceptable to them.—
One device the country banks have had recourse to
in several places, with the idea, no doubt, of se-
curing themselves against sudden demands. In
some of the largest towns, the notes are payable
in London only, and not also at the banks of the
drawers. This accounts for the late large trans-
fers of notes to London for payment. But though
this device may succeed in ordinary times, it will
be of little avail in times when credit is shaken.

[NEW TIMES.]
A Neapolitan Paper contains the following pa-
ragraph :—" The Government of the King of
Morocco having bought, by a contract executed
in the Sardinian Consulate at Tangier, a goletta
called the Maria Louisa, armed with four twelve
pounders, and two eight-pounders, a report was
in consequence circulated, that this vessel was to
be dispatched on a cruise against the ships of
those Sovereigns who had no Consul ht Morocco,
and in particular the flags of Naples, Tuscany,
Rome, Austria, and Hamburgh, were specified as
liable to capture. It might easily have been
known that this rumour was unfounded, so
far as regarded the Neapolitan flag, since
treaties of peace, commerce, and navigation,
have long existed between the Crown of the
Two Sicilies, and his Majesty of Morocco; nor
has any event ever occurred which could pro-
duce the least alteration in the pacific relations
of the two Courts. Nevertheless all requisite
measures were taken by the King our Sovereign,
not only to remove every ;del of hostility between
the two States, hut also to obviate all suspicion
that might prejudice the free navigation of the
Neapolitan flag, and the commerce of his Ma-
jesty's subjects. Accordingly, the Royal ves-
sel II Vesuvio, commanded by the Marquis D.
Giuseppe De Blasi, was dispatched to Tan-
gier, where she arrived on the 24th of October,
to ascertain the dispositions entertained, there
towards our flag, Captain de Blasi having had a
conference with the Pasha, has brought back the
most positive assurances that the Neapolitan flag