The Sun.
London, England, 1825-12-17 00:00:00

habit of sending to the newspapers, which things
were called statements of the revenue and ex-
penditure of certain kingdoms and republics ?
Do not the knaves know that what we now write
is too true, and that the public, by means of
the city knaves and the newspapers, have been
infamously defrauded ? Is it not known by our
contemporaries that such scandalous proceedings
have brought the Press into such contempt—that
the public believe that if they send any thing,
however preposterous, to a Newspaper, it will
be inserted,'provided a remuneration in propor-
tion to the preposterousness of the thing be only
paid for? Do not our contemporaries know that
this contempt for the Press has extended to such
a length, that even in case of death, the friends
of the deceased think that they can get inserted
in the body of a Newspaper, as an article of in-
telligence, the most nauseating flatteries ? Do not
our contemporaries know that in some cases this
contempt has gone so far that the friends of the
deceased have desired the Newspapers to put
black lines round flummery—the same as is done
in cases of Royal decease ?

rNEW TlNles.]
An issue of one and two-pound notes having
been determined on by the Bank of England,
with the approbation of his Majesty's Govern-
ment, it was, we understand, yesterday begun to
be carried into effect for the country circulation
only. The utility of this measure is great and
obvious, but it is merely expedient for the relief
of a transient evil. The nation abounds in real
wealth, but the symbol of wealth, which gives
life and activity to the exchanges of trade, has
been to a great degree withdrawn. Contagious
panic has caused a vacuum in the circulation of
the country, and that vacuum must in some
manner or other be filled up before our internal
commerce can be restored to a healthy state, or
credit, public and private, can be re-established.
It would be perfectly insane to suppose, what,
indeed, none but the insane readers of Cobbett
do suppose, that the circulation of so vast and
industrious a country as England could be car-
ried on by the precious metals. We could not
afford to purchase so costly a medium of exchange.,
and, if we had it, we should find it far too cum-
brous for use. It is indeed desirable that gold
or silver should form the basis of our currency,
but it is desirable that the great superstructure
should be notes of the Bank of England, coun-
try bankers' notes, private negociable bills, or
other transferable paper. The Bank of England
always retains large quantities of gold, into which
its notes are convertible. Private bankers' notes
are also• convertible into gold, but if both the
Bank of England and the Country Bankers al-
ways kept a sovereign in their chests for every
one pound note they issued, their notes would in
fact be useless, and we might as well return to•
the cumbrous and inefficient use of a metallic!
medium.

[THE TIMES.]
There were no failures in the City yesterday.
That negative sentence contains all the good
news that we have to report respecting the
money-market. The accounts of failures in the
country will be still found to be sufficiently nu-
merous. But the event of most importance was
the re-issue of one and two-pound notes by the
Bank of England. We shall frankly state every
thing that has been said in support of this pro.
seeding, as it is but fair that the motives which
have led to it should be fully known : the objec-

tions, we fear, will strike without being recapitu-
lated. In the first place, it is only to assist
the country bankers that they have been is-
sued, and to the country they have been
sent ; none, we believe, being as yet passed

in London. The number is limited. (Alas
this was the case at first, in 1797.) And the dif-
ficulty, and expellee, and risk of conveying gold
into the country, rendered the substitution of a
lighter commodity necessary, a single provincial
banker having been sometimes obliged to hire
and start with two post chaises for the transport
of gold, in order to take up the small notes
which were pouring in upon his concern. Such
are the reasons for, and the limitations proposed
to, the re-issue of Bank of England notes under
five pounds. It is also proper to state, respecting
the effect of the measure, that it did not seem to
create any alarm in the city. May this indiffer-
ence or frigidity continue !

[THE PUBLIC LEDGER.]

We have received the Paris Papers of Wed-
nesday. The Rentes have had another relapse
in consequence of the gloomy state of our own
market, but when intelligence of the favourable
change that has occurred here, shall have reached
the French capital, it will probably produce a
corresponding effect there. The Etoile has a
mawkish account of a recent conversation be-
tween the King of Bavaria and the Pope's Nun-
cio, in which the former is made to hold a
language, at once disrespectful and unjust to the
memory of his father, but inconsistent with the
liberal auspices under whicb his reign has
commenced. A Sovereign, who, on ascending
the throne, has expressed a determination not to
spare any of the abuses that have crept into the
public administration, and has already begun
some very important reforms, is not a likely per-
sonage to become priest-ridden. There is a great
difference between holding religion in respect,
and conferring an undue and pernicious influence
upon its Ministers ; but the Etoile, which is the
organ of the theocratic party in France, will not,
for very plain reasons, allow this difference. The
last accounts in these Papers from Madrid are to the
2d inst. to which it is affirmed that the correspond-
ence between the Diplomatic Body and the Spanish
Ministry still continued. As the English Minis-
ter is said to take the lead in the discussion, its
purport cannot be supposed to he very agreeable
to the arbitrary notions of the Spanish Cabinet.
It seems, however, to have reference chiefly to
the dispute between Spain and her late Colonies,
and it is not necessary to be a wizard to ascer-,
tain in this case the course recommended to the
Court of Madrid by the representative of ours.

• innlTisn PRESS.'J
Among the many topics which press upon the
attention of Min4ters at this eventful period, one