The Sun.
London, England, 1825-12-23 00:00:00

[NEW TIMES.]

Whatever doubts may have existed as to the
death of the Emperor Alexander must now be
removed, for the news is,
confirmed from so many
quarters that further scepticism would be ridicu-
lous. The date of the melancholy event is stated
to he the Ist instant, but of the place where
it happened there is still some doubt. The
German accounts say it was on the road from
Taganrok to St. Petersburgh ; but Lord Clanwil-
liam's first account, which is said to have been
followed by a second to the same effect, speaks
of Taganrok itself as the scene of his Imperial
Majesty's dissolution. As to the cause of his
death the most credible account is that the Em-
peror had been attacked with a violent cold
during his travels in Crimean Tartary, which
settled in an inflamatory sore throat, of such
virulence as to deprive his Imperial Majesty of
speech for some days. Fortunately however, he
recovered, so far as to express his wishes; and
conscious of his approaching end, he declared
the Grand Duke Constantine his successor,
thus confirming by his last wish, the right
of that Prince to the throne of Russia.
The romantic tale of assassination, at a water
party, on the sea of Mop!), although we
are told it came from " a high quarter," is
now pretty generally taken to be a com-
plete humbug—not that we in the least sus-
pect our worthy cotemporary himself of any
thing like an intention to deceive the public : he
was, no doubt, deceived himself: and we would
therefore advise him in future to be cautious of
the information that he gets from " high quar-
ters." The French Funds seem to have been
more affected by this event than our own :
and yet we do not see why they should he
so. M. De Villele, whom the reports in
the city had very unceremoniously turned out
of office, appears to be more firmly fixed than
ever, at least for a time. No Sovereign in Bo-
rope would voluntarily choose such a moment as
the present to make changes in his Cabinet. As
little reason is there to apprehend that the Em-
peror Constantine will in any degree break faith
with the public creditor. The Russians never
have done so : they religiously respect contracts
of that nature ; and their Monarchs have always
paid in full the debts of their Predecessors. It
was, no doubt, a knowledge of this historical fact,
that prevented the fall which had been anticipated
in the Russian Bonds.

[THE TIMES.]
The agitation of the waves after a storm is a
proverbial expression ; but we think that the
state of the Money Market yesterday presented
something more of turmoil and menace than would
be strictly analogous to that description. There
were some few elements of confusion mingling
with the subsiding hurricane. Or at least, ob-
serving how long, and with what reluctance the
calm succeeds, we should infer that the preceding
tempest has been yet more violent than was ima-
gined during its existence. The Bank was
surrounded by the civil and military force
which has been recently thought necessary.
—We hope., the serenity of the sacred
season which is now at hand will not be
disturbed by this display of secular power.—
We said at the beginning of the late confusion,
that the Bank had to look to its own propriety,
and to the guarding themselves against ruin or
absolute loss. The -duty of the Directors was
confined within these bounds. It is with regret,
therefore, that we hear it asserted, that the
value of Bank-stock. is increased. Indeed it would
be a great reproach if, during a crisis when all
the other banks and all other capitalists had
sustained great injury, and barely escaped bank-
,
ruptcy,- a bank calling itself national had alone
enriched its partners, and increased the value of
its stock. We hope the Bank of England will
look to this. We should think it acted in a highly
culpable manner, if, by the prodigality of its
issues, it ever suffered the foreign exchanges to
turn against us, or the value of gold to pass the
Mint price.
[MORNING HERALD.]
It has been fortunate for the Bank that during
the present storm thy exchanges have bees in our

favour ; had that not been the case, gold would
have borne a premium, and would have been ex-
ported. While a sovereign is only equal in value
to a Bank of England note, there is not much
danger to be apprehended of a run upon the bank.
We remember, however, when the rate of exchange
between Paris and London was as low as 16 francs,
guineas at that period were purchased at high
prices ; and they disappeared, till the exchanges
came round again to 1?e in our favour. As for
hoarding, there is not much danger of that in
this country—for almost every body spends as
much as he receives. Too many spend more
than their incomes amount to, as is proved by
the numerous insolvencies and bankruptcies.
Still we cannot help thinking, that though the
exchanges are in our favour, a circulation of ten
millions of sovereigns is much too little, while
the Bank of England and country bank paper
amounts to so much as forty millions. One is cer-
tainly out of proportion to the other, for if ex-
changes were only to turn against us 21 per cent.,
and that a sovereign should be worth 6d., every
one of course would get his note exchanged for a
sovereign, when the latter coin would soon dis-
appear. We do not agree in opinion with some
of our contemporaries that the rescinding of Mr.
Peel's Bill at the present moment would increase
the panic, at least in London.

[BRITISH PRESS.j

The great obstacle, it appears, which stands
in the way of the Silk Trade, in their application
for the postponement of the introduction of fo-
reign wrought silks till they shall have so far
improved their machinery as to enable them to
bear up against it, is—that the yielding to their
request would be an abandonment, so far, of
those principles of free trade which have, upon
mature deliberation, been adopted, and from
which it is not thought, expedient to depart.
We sadly fear that if this system of free trade
k to be persevered in, it must be by a sacrifice
of the mercantile and manufacturing interests of
this country, to an extent, the consequences of
which we tremble to contemplate. The popula-
tion of this country must be fed, and if their
means of obtaining subsistence by their own indus-
try is withdrawn from them, how are they to be
provided for, and what is to be the result ? If the
mercantile interests of this country are to be put
in issue--as they will be—by this experimental
system, who shall say to what it may lead, and
where it may end ? We would entreat the
advocates of these principles—ere it is yet
too late—to pause before they attempt the
application of them in the present state of things.
Let them take the advantages of contingencies.
Let them profit by occasions as they arise. But
let them not attempt to benefit the manu-
facturers by abstract theories of political econo-
my, for which they are not prepared, and which
can only produce effects so deplorable as to leave
them every thing to apprehend. If we speak on
this subject with an earnestness that is extreme,
it is from the deep and indelible conviction we
feel, that, before three months shall have elapsed,
if this scheme of policy as to the Silk Trade is
not postponed, the consequences to this country
will be such as no after-wisdom can either avert
or recall.