The Sun.
London, England, 1822-11-14 00:00:00

[HORNING CHRONICLE.]

Though the alarm is now in a great measure
over, confidence is still far from being fully re-
stl'ored on the Exchange, so great has been the
force of example, and so long it is before, after
an "alarm of this kind, individuals can completely
regain their self-possession. People, however,
r.Ow begin to reason on the subject of the agita-
tion, and the views and motives of those who pro-
duced it. Several surmises are afloat, and among
otherS'one to which we have already obscurely al-
luded. It is thought by well-informed per Sons that
de French Ultras are deeply implicated in the
scheme, and that it had for object to injure the
credit of the Constitutional Government of Spain,
as their bosom friends, at the head of the Army
of the Faith, have been usuccessful in their mi-
litary Operations, and the moment was deemed
propitions, 'from the circumstance of the Cortes
having. decreed a new and larger Loan, for the
express purpose of clearing the Peninsula, pre-
venting all re-action, and consolidating still more
tht: new; order of things. As all this, however,
could not be done without some sacrifices, it is
thought the Pavillon Marsan has agreed to make
:-itlre.m. The names of some money speculators-
are als6 mentioned, who, from a supposed com-
petitiOn, are Whispered to have been induced to co-
operate in it. These, of course, are only surmises ;
but time,"itis to be presumed, will clear up the
Miitter ; but- that the French Ultras have 'some
hand in the plot appears probable, not only from
the general tenour of their policy and intrigues,
but also from the circumstance of mercantile
letters froM Madrid, addressed to persons in
'Lbtidoit, deeply interested in the financial con-
cerns of Spain, having been stopped in Paris,
more than once at this critical moment. Before
we close this subject we think it proper to state,
that great astonishment and considerable irrita-
tion was felt on the Exchange yesterday at The
Times having quoted the French Rentes `2 per
epOt. lower than they were When their own
eic-
press came away.

[BRITISH PRESS.]
Of any intention op the part of the. Allied
Sovereigns to dictate a Constitution to Spain ai
the point of the bayonet, there is not only no

positive intelligence, but the supposition has not
even probability in its favour. The present Con-
stitution of Spain may not be exactly to the taste
of the despotic Sovereigns of Russia, Prussia, and
Austria, but it is not a creation of yesterday.
They have seen its foundation laid, and the super-
structure completed, without fear or apprehen-
sion ; and whatever may be its defects, or to
whatever objections it may be liable, it threatens
to them no danger from its example. They sit
upon their thrones in remote security, and having
assumed the title of conservators of the peace of
Europe at Verona, they will not forfeit it and
become the disturbers of that peace without an
obvious necessity. No such necessity exists in
the present state of the relations between them
and Spain, at least none that would satisfy public
opinion, and fortunately that is a tribunal to
which they owe and must pay obedience. The
immediate contiguity of France places her in a
different situation from the other Continental
Powers with respect to the Peninsula. In her
case it is Urit Ucalegon. A political fer-
mentation in Spain must prove to France
a source of great alarm. It was soon ap-
parent that the cordon sanitaire, the original
name of the army of observation, was intended to
stem, not a physical, but a political epidemy.
Still, however, it could only be considered a
measure of precaution. The various trials for
plots and conspiracies in France did not say
much for the stability of her own Government,
and surely that was not the moment for medi-
tating the destruction of a neighbour. France
could not at any time march an army into Spain
without endangering her own internal security.
Bat the present moment is the most unfavourable
that could be chosen for the purpose since the
commencement of the civil war in that country.