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

to fabricate them at Madrid. According to let-
ters from that place an express from Galicia
Dad brought the news that the English Company
which has undertaken to seek for the silver
en board the vessels sunk at Vigo had got up
several millions. Letters of a later date, howe-
ver, received at Bayonne, direct from Vigo, make
no mention -of this circumstance. It had been
ascertained that the fire in the Escurial, which was
at first ascribed to design, was owing to the ne-
ligence of some domestics, who, after the Ring's
departure, had forgotten to put out the• fire in his
Majesty's apartment. The flames caught the
draperies and part of the furniture, and damage
was done to the amount of 80,000 francs.

[Ulf& PUBLIC LEDGER.]
Last night we received Frankfort Papers to
the 4th instant. They contain advices from Ma-
nia'. to the Ist inst.; by which it appears that
the zeal of the new King of Bavaria to reform
the abuses that have crept into the Government,
so far from subsiding, seems to increase. He
?as appointed two Committees, one of which is
in enquire into the state of the public Adminis-
tration generally ; the other, to see what re-
ductions may be made in the army. They
sit on alternate days ; and the reason of this
arrangement is, that the Kint may be always
ilitesent at the meetings of both. In the mean
dine, he is accessible to every one who has
,any Complaint to make, or any useful proposal
to impart ; and his reign already promises to be-
come a new era in the annals of Bavaria, and to
have,lesides, a considerable influence on the lot
4,1 the neighbouring States. His example will
scarcely fail to confirm thegood intentions which
the King of Wurtembergh has uniformly mani-
fested to promote the welfare of his subjects,
but which the Holy Alliance made early at-
tempts to neutralize. Most of the other Secon-
dary. Powers are, in likemanner, favourable to
enlightened principles ; and therefore the ex-
ample and influence of Bavaria may have the
effect of uniting them all in a Constitutional
League, as contra-distinguished from the despotic
confederacy of Aur:tria and Prussia.

EMORNINO CHRONICLE.]
The exchanges are already so high, that gold
and silver are below the Mint price. The con-

traction of the paper as necessarily raises the ex-.
c:banges, as its extension lowers them. What is
reprehensible is, that the body which has the re-
gulation of this important matter, either from
ignorance, or some other less justifiable cause,
neglected the warnings afforded by the state of
the exchanges till the twelfth hour, and thereby
added greatly to the distress of the . country. If
the Bank, instead of acting on the ridiculous
principle, that issues to a certain amount are re-
quired at all times for the wants of the country,
had taken the alarm, after the exchanges had
been for some time unfavourable, the Country
Bankers would have been put. on their guard,
and many of the daring speculators in the metropolis
Vould have been seasonably checked, and thus
much of the present distress and embarrassment
-would have beep prevented. The Leeds Mercury
states, that Messrs.:Wentworth and Co. will, in
all probability, be able to satisfy all demands
oti them, but that in the mean time the fail-
ure' must occasion considerable embarrassment
in Yorkshire. We must repeat what we have
again and again stated, that the Bank of Eng-
land monopoly is the cause of all these convul-
siOns, and that till Banking be thrown open, we
should never be.secure from a return of what is
now going on. Look at Scotland, we say, which
is a much more speculative country than Eng-
land, but which knows nothing of the Bank
failures of constant occurrence in the latter
country. The Scotch, as traders, are more ad-
venturous and daring than even the people of
Lancashire, the most speculative of the Eng-
lish; and in one year, 1819, as was lately stated
by a Correspondent of this Paper, under the
signature of " Probus," Bankruptcies took place in
Glasgow alone to the amount of nearly three
millions and a half, yet the Banks of the clun-
try, which are always ready to accommodate,
were not for a moment even suspected. Let us
tl en take a lesson from our northern neighbours,
and the present is the time for speaking with
effect. The influence of the private bankers is
so. great. in the House of. Commons, that when the
storm is blown over the survivors will stir heaven
and earth to have the existing system continued.