The Sun.
London, England, 1825-11-29 00:00:00

DIMINTNG POST.]

We received fast night, by express, French
Papers to the 27th inst.and the Etoile of Sunday.
It is evident 'from their contents that a change is
preparing, if it be not already effected, in the
long hesitating, policy of Russia towards Greece.,
The 'appeal made by the Governor of Napoli di
Romania to the protection of this country, has
piOduced the effect which we anticipated. It has
shewn the Emperor Alexander that if he conti-
nued to deceive the hopes of a people who con-
skier him as the first encounter of their insurrec-
tion, Greece would for ever escape out of his
hands, and might even' become, under the in-
fluence of another .Power, a strong and impas-
sable obstacle - to the future extension of the
Russian empire • towards the Bosphorus,—
From. that moment he determined on reviving
the expectations which his apparent desertion
had extinguished.• Ile publicly announced his
intention to visit his army on the banks of the
Pruth, and not only set out for Bessarabia, but,
before his departure, sent orders to his Charge
d'Affaires at Constantinople to renew the discus-
sions with the Porte respecting the evacuation of
Moldavia and Wallachia, and to renew them
with a tone of decision which would bring mat-
ters to a crisis. Thus he at once filled the Divan
with doubt and apprehension, and revived the
dying embers of the Russian party in Greece,
which only wait the rejection of her Protec-
torate by'our Government (if it be rejected),
to blaze on high and lead her to the feet of
the,relenting Autocrat. It appears by intelli-
gence from St. Petersburg!) contained in these
Papers, that the Divan in its alarm has thought
it prudent to submit, and has conceded all the
demands, and obeyed, as it were, all the orders
of ItUssia, without delay or remo►►strance. But
it appears also that this promptitude has not con-
ciliated 'favour, and that the execution of the
measures which the Porte has engaged to take,
is to be " watched 'rigorously," lest they -should
be rendered illusory by " secret instructions."--
In other words, a door for quarrelling with
liiirkey is to be left open, to be used or not, as
cir4umstauces may require. That it is not likely
toiernain long unemployed may even be presumed
frorn the fact of the Grand Duke Constantine
having been suddenly called away fro►n Saxony by
Urgent dispatches to follow, in the same direction as
his brother. His hatred against the Turks, and his
partiality for the Greeks, whom he would save as
Co-Religionists, and secure as future subjects ; his
undisguised ambition to realize his mother's views,
and to justify her choice of his name by. planting
the throne of Constantine in Constantinople, all
announces that if he is called upon to direct some
enterprize, it must be one for the rescue of
Greece and the reduction of the Ottoman Em-
pire. The rapidity with which he is said to be
travelling also affords grounds to presume that
the object on which he is bound is one connected
with his favonzite views, and congenial to the
long-repressed ardour of his spirit. Meanwhile
the intelligence respecting the sailing and progress
of the Turco-Egyptian fleet is so contrary, that
it is impossible to form a decided opinion on
the subject. Accounts from Constantinople
positively declared yesterday that the whole ar-
mament was still at Alexandria; some Austrian
reports now state that it had not only sailed, but
bad even reached, Nayarit). This latter intelli-
gence appears, however, decidedly premature.—
On the other hand, the French Papers iuform us,'

that Lord Cochrane had landed at Bologne ; from
which it may be hoped that his Lordship has
taken France on his way to Greece, and that the
expedition which he is to command will assem-
ble in the French ports, where no opposition is
made to the sailing of troops and military stores
for either party.

[BRITISH PRESS.]
We have heard much blame attached to the
Bank, as if the Directors had mainly contributed
to the present embarrassments in the Money
Market, by suddenly restricting its discounts. It
is natural for those who suffer, be the 'occasiOn
what it may, to ascribe their misfortunes to "any
other cause than their own imprudence. The fact
is, that no imputation can be more undeserved
than that which such persons have thrown upon
the Bank in the present instance. Anxious to
give every accommodation to the- commer-
cial world, the Bank discounted good bills
at four per cent. This gave great facility
to the transactions of the mercantile world,
and the mercantile world continued for some
time to derive great advantage from this liberal
Iccommodation ; but great numbers, instead of
availing themselves of it for the valid purposes of
commerce, perverted it, in the most mercenary
spirit of jobbing, to their own private emolument.
Persons in extensive dealing, and with high cre-
dit, who had an account at the Bank, soon found
that they could turn its liberality to account ;
they accordingly themselves discounted good
bills at five per cent. and, taking them to the
Bank, with their own indorsement, got them dis-
counted at four, putting the intermediate profit
of one per cent , without any further trouble., into
their own pockets. This practice was carried to
an extent Which made it imperative on the Baiik
Directors to put a stop to it. This it was that
obliged them to refuse discounting many good
bills, it being through the medium of such bills
that this most dishonourable profit was made.—
And yet there are persons who, knowing well
this real cause of the restriction of the discounts,
keep it carefully in the back ground, and de-
claim against the Bank as having first encouraged
the spirit of commercial enterprise, and then de-
pressed it by suddenly withdrawing its aid by
limiting the issue of its notes.