The Sun.
London, England, 1825-11-15 00:00:00

tugal on the demise of the present King ; so that
the crowns separated during his life would be
united, by the principles of legitimacy, at his
death. The letter before us states, that the de-
ficiency is to be supplied by a supplementary
convention between father and son, in the nature
of a family compact, which their allies cannot
fail to guarantee by their sanction, and
which will for ever remove all cause of na-
tional jealousy. No doubt some such act is re-
quired to complete the present imperfect trans-
action ; but a sense of this necessity may have
suggested to the writer the idea of his family
compact. He adds, that the Emperor is about
to undertake a voyage to Europe, in order to pay
hit personal respect to his father, and arrange all
points of difference. Was it in contemplation of
this interview that the father took the title of
" Emperor," in order that he might not be bound
to pay homage to the higher rank of his son ?
It is stated in a letter from Egypt, that the writer
had seen a review of 24,000 troops near Cairo,
commanded by French officers, and trained to
European discipline. The army of the Paella,
including the troops in the Morea, is estimated at
.50,000 met►. The Journal des Debuts, in an ar-
ticle on the Congress of Panama, strongly cen-
sures the supineness of the French Cabinet, in
not taking advantage of the new order of things.
The journalist ought to have reflected that one
of the Ministers is at least better engaged. The
trade of the New 'World may be for some time
engrossed by more enlightemd States ; but M.
de Corbiere has carried his point against two
eminent professors of the Paris University, and
neither M. Royer Collard nor M. Guizot will be
allowed this winter to give their course of lec-
tures.

[BRITISH Pit Ess.]
The Paris Papers of Saturday arrived last
night. The advises from Madrid speak with lu-
dicrous gravity of the " recovery of the American
colonies." Great efforts, we are told, are making
to repair the remaining vessels of the Spanish
navy, and one new ship of the line, we are assur-
ed, has actually been launched at Cadiz. The
Mexicans, who have just gained quiet possession
of the last squadron of the King of Spain, will,
we dare say, he not much alarmed at the array
of force, possible and future, by which their in-
dependence is to be destroyed, even though the
Holy Alliance should add all the weight of their
assistance. The interests of Europe are too well
understood and appreciated by the powers of the
Continent to induce them to give the least corm-
tenance to the wild projects of the Escurial. The
Spanish Government, weak and contemptible as
it has been at every period since the commencement
of the struggle with the Colonies, is now sinking
to a lower depth of baseness and feebleness than
e ver. The Ministers,changed from month to month,
can pursue no steady course of policy. Their
whole time is consumed in fruitless endeavours
to retain their places and strengthen their influ-
ence. Every member of the Cabinet, with M.
Zea, is, with the single exception of M. Cabo-
marde, to be dismissed. The triumph of the
A postolic party is complete. M. Ugarte, it is
believed, will be recalled, and the Marquis de
Matallorida is on his return to Court, where some
great post await his acceptance. The Journal des
Debuts has an absurd article on the Congress of
Panama. It insinuates that England will take
part in the proceedings, with the view of preju-
dicing the new States of America against the great
powers of Europe, France, Russia, and Austria.
The writer also asserts that a principal object of
this Congress will he Ur require the Pope to no-
minate a Patriarch for America, as formerly Por-
tugal and Venice had. Certainly the distance at
which the Americans are placed from the See of
Rome render their communications tardy, uucer-
tain,and very liable to interruption ; but it is easy
to foresee that the l'ope will never for a moment
listen to any proposition for establishing an or-
ganization of the Catholic Church in America,
which would inevitably and speedily lead to its 0
entire separation from the Papal authority. We
suspect, however, that the design has never ex-
isted, but in the fertile imagination of the Parisian
Journalist. Certainly it has never been alluded
to in any of the documents that have appeared in
the South American Papers.

[MORNING CHRONICLE.]
The Jesuits are growing bolder and bolder
every day o❑ the Continent. Three Professors
of Paris, M. Royer Collard, M. Guizot, and M.
Cousin, are interdicted from lecturing, a pretty
significant hint to the other professors that they
can only hope to hold their situations by the
tenure of subserviency to the Priesthood. M.
Royer Collard is one of the ablest men in Eu-
rope. His speeches in the Chamber of De-
puties during the discussions on the Law of Sa-
crilege, were beyond all praise ; they displayed
great learning, and great powers of reasoning,
and they were not chargeable with the diffuse-
ness which is too common a characteristic of the
French writers of the present day. That the
exertions of this great man on the occasion in
question, in the cause of civil and religious li-
berty, marked him out for proscription is but
too probable. No wonder that the liberal part
of the French nation are at present so active in
their warefare against the Priesthood ! All men
of sense in that country are aware that the ob-
ject of the Priests is to destroy every vestige of
liberty, to destroy every thing like freedom of
inquiry, and to place the people in a state of per-
petual pupillage. They must triumph over the
Priests, or the Priests will reduce the nation to
that' state of prostration of intellect, after which
the good Bishop of London so fervently sighed.
Light and darkness cannot exist together ;
there can be no union between bigotry and li-
berality ; intolerance call only be rendered
harmless by being stript of all power. Two
countries besides France are at present more
particularly the object of the deliberation of the
Jesuits ; one of them Ireland, the other the Ne-
therlands. We see from the French Papers of
Saturday, that an hundred thousand florins have
been subscribed by one individual towards a
Jesuit's College in Ireland. So much for Dr. I
Magee's- commencement of the Reformation in
Ireland—a very odd sort of Reformation, no
doubt, when the condition of it is the exclusion

of the body of the people from the benefit of
education. Ignorance is the arm by which
the Irish Protestant Church is to foil the Jesuits.
The language which the French Ministerial
Papers hold with respect to both Ireland an►l
the Netherlands, is rather calculated to startle
us. The Irish Catholics evidently count a good
deal on the patronage of the Bourbon Govern-
ment, a patronage which never can be of tile
least real service to them, whilst by rousing
the jealousy of the people of England, it may
be productive of much mischief to the empire in
general; for the cause of the 1641 Catholic is
not more his, than it is the cause of the English
Protestant, both equally interested in the gene-
ral tranquillity' and prosperity. The English
know well enough that the French Government
neither intends effectually to assist, nor can effec-
tually assist the Catholics ; and though the Go.
vernment, under the influence of fear, might con-
cede that which we fear it never will concede to
justice, yet if the coquetry between the French
Government and the Catholics does not inspire
fear, but engenders merely animosity, it can lead
to no good. We have little faith in Dr. Magee's
or any other Protestant Reformation in Ireland,
till the Catholics are freed from the stigma which
now attaches to them. Then, indeed, we might
hope for some success against a religion which
we every where see arrayed against the cause of
truth and freedom.

[NEW TIMER.]
The panic which prevailed in the Money Mar-
ket on Friday and Saturday last yesterday in-
creased in a considerable degree. The same
feeling which pervaded the public mind some
weeks since, and which we then commented
upon, appears to operate precisely in the same
' manner at present. Yesterday the holders of
Consols, as well as other Securities, evinced such
anxiety to sell, that it was difficult to induce
persons to come forward to any extent, without
holding forth such inducements as to throw great
losses upon the sellers. The portion of business
transacted in the Congo! Market yesterday was
to a very great extent, and the purchases had not
the effect of raising the Funds in the least de-
gree ; on the contrary their appearance bore the
most gloomy aspect. As we before remarked in
these sudden instances of depression the public
have chiefly themselves to blame, for from a want
of confidence, they in a body offer such an im-
mensity of stock, that it is almost impossible to
find purchasers without causing the very evil
they are desirous of guarding against. Consols
for the Account and for Money opened at the
same price, viz. 864, and receded to 854. Exche-
quer Bills of 10001. from ls. to 2s. premium ; of
5001. ls. to 3s. pm., and small bills 4s. to 6s. Mo-
ney is certainly scarce in the City. Bankers' ac-
ceptances can be discounted at about 4 per cent.,
Merchants' of the first class, from 4 to 5 per cent.
In the Foreign *Market the sacrifice to those in-
dividuals who sold was very great, and the quan-
tity disposed of immense ; the fluctuations in
some of the Securities were as much as 3 per
cent. As might be expected, the jobbers and
speculators were in the most feverish state.—
Colombian Bonds, which opened at 70+, were
done so low as 671, but closed at 68+, the same
price both for Money and the Account; Mexican
Scrip opened at 10 ft, closed at 121 dis.; Greek
Bonds, 41'34; Brazil Scrip, 10+ dis. ; Russian
Bonds, 91 to 891; Spanish Bonds, 16 ; French
Rentes, 98f. 75c.; Exchange, 25f. 10c.--Iu
Shares there was not that quantity of business
doing which took place in the other Securities;
but what was done was at a depreciation ; in fact,
with such a feeling as the Public at this moment
are possessed of, the Shares in many of the Com-
panies are not that sort of security which could
induce them to speculate in. Anglo American,
25 pm.; Bolanos, 55 pm.; Bolivar, 15 to 14 pm.;
Castellos, 1+ pm. ; Real del Monte, 140 pm. ;
Royal Stannary, 4 dis. ; United Mexican, 11 pm. ;
Welch Iron and Lead, 8 dis. ; Alliance Marine,
1 to 1+ pm. ; British Iron, 74 dis.

[THE PUBLIC LEDGER.)
The Funds continue to fall rapidly and as
there are none of the usual political causes to ac-
count for it, the circumstance is the more extra-
ordinary, and calculation is absolutely bewilder-
ed in attempts to explain it. One thing, how-
ever, is clear, that increased employment of
capital in productive labour, though very consi-
derable, is not extensive enough to afford a satis-
factory solution of this enigma ; for it must be
remarked, that the depression has been about -5
per cent. in the course of nearly as many weeks,
and very near 10 per cent. in as many months.
If it be a re-action, occasioned by th. late spe-
culative mania, it will probably arrive soon at
an end ; but if it be the effect of several causes,
acting simultaneously, it would be rash to fix any
limits to it in its descent ; and this opinion indu-
bitably acquires some consistency, from every
appearance at present indicating a further dete-
rioration of that species of property. That poli-
tical causes are operating, though not of the
usual character, to produce the panic that now
prevails in the Money Market, is an incontro.'
vertible fact. The different Governments of
Europe are, it is true, as determined as ever to
cherish the blessings of peace; but it is equally
obvious, that the proceedings of some of them
are decidedly at variance with this resolution.— !
Whilst tl►e cause of good government has
made great progress lately, the attitude and lan-
guage of some Powers continue to be as hostile
to it as ever ; whilst others have taken an ad-
vanced position in its support ; and that this
marked collision of views will lead at last to
irreconcileable jealousies, no man in his senses
will venture to controvert. For example, what
can be so hollow as the friendly relations
now subsisting between this country and Rus-
sia, whilst one is the fearless champion of
sound principles, and the other their unflinch-
ing and uncompromising opponent. It is also
impossible to conceive any two things in na-
ture that are more at variance than Spain arid
England have been for some time in their inte-
rests, as well as their professions ; whilst weak-
ness alone has hitherto prevented the former
Power from coming to an open rupture. In the
mean time the internal disorders of Spain are an