The Sun.
London, England, 1823-01-23 00:00:00

importance of the State Papers alluded to, and
because they could not be properly understood,
from the imperfect translations previously given
from the French Papers.
Whatever may be the result of the present
alarming political crisis, our Readers now see
that in all that has passed, our information has
been correct, and our views consistent both with
the Policy of the British Government and the
best interests of the British Empire.
When the appearances of war were the most
threatening, and at the very moment when they
first, burst forth and appalled Europe, we calmly
examined and pointed out the reasons Is hich
then induced us, and which still induce us, to
hope that so great a calamity will be averted ;
and we at the sometime firmly and unhesitatingly
announced, that in the event of those well-
grounded hopes being disappointed, England
could not, consistently with her dignity and her
interests,' and would snot, remain an indifferent or
a neutral spectator of the conflict, but would be
found both willing and able to resist the accom-
plishment of projects directed not less against her
rights. her prosperity, and her power, than against
the independence of the nation whose unhappy
state of agitation furnished the pretext on which
those dangerous and ambitious projects were
formed. The strong assurance given by the Eng-
Hsh Ministry to that of Portugal, after England
perceived that the time was arrived to chew its
opposition to the projects which could not now be
(herded," or after " the changes in the English
Ministry had caused a change in' its view of the
projects of the Holy Alliance,"---the strong assur-
ance given by Great Britain," that if ever, con.
oars to expectations, the independence of Por-
tugal should be menaced, his Britannic MsJEsTY
would 'never be an indifferent spectator of so im-
portant an event,"—establishes the strict cor-
rectness of the first position which we assumed,
and of the first intimations of the policy of Great
Britain, which we alone, at the very instant that
policy was formed, announced to the public.
Our next declaration was, that a Commer-
cial Treaty was on the lapis between Eng-
land and Spain ; and which, , though imme-
diately and positively contradicted by the ad-
vocates of war, and by those persons who pre-
tended to affirm, that in the event of war, Great
Britain would preserve a strict neutrality, is now
proved to have been substantially correct, by the
measures in favour of British commerce adopted
by the Spanish Government.

The third stage at which we arrived, was the
intimation that the French Government had de,
termined. in favour of peace, chiefly copse-,
quenco of the knowledge of this country; and of
the knowledge which it had obtained of the po-
licy which the British Government Would pursue
in the event of a Spanish invasion. The Report
of the Portuguese Foreign Minister Proves
that we were equally well-informed on this.
.point, as on the preceding ones ; for it says"--
" The clear and pOsitive expressions (of
C3reat Britain) soon rqsOunded on the banks.
of the Seine, and the
.Government of his Most
Christian Majesty protested thatit had never
conceived any hostile, intention . towards
~..Port-
ugal; that, as 'Constitutional Uovewntnent,
it not only considered as unjust, but would, be.

ashamed to maintain so absurd a doctrine as,
the interference of one'Power in the internal po
litical organization of any other ; and that, not-
withstanding the 'fears which the army •of the.
Pyrences might nalaraky e.ccite, it u:ould never
pass the frontier line unless it were first ululated
by the Spanish troops, which, engaged: in the hor-
rors of a civil war in the provinces adjoining to
France, obliged the latter to take every• precau-
tion against the evils of all kinds which such 'a
neighbourhood gave room to apprehend."
Nothing can be more positive or satisfactory
than these evidences of the truth of every
thing that we have hitherto stated. It is true
that there still may be war bo.wven France
and Spain ; but, if there is, its commence
ment will be attributable to the French
Ministry ; but, either to the piedominance
of the war Party in the French ,Legislattire,
to the occurrence of some act of aggression
ott
the part of Spain ; --and we repeat, on a view of
the whole question, that war, thott,,,,h possible,
is EXCEEDINGLY IMPROBABLE.

EU.ENCJI FUNDi.—JAX. 20,6
Five per Cents.
Moo itt .. :. . . F. 83 10 c.
Bank Stock
For the account 83 f. 65 c.
Neapolitan Five per Cents.
... ...... .. . 7 1520 f. c,
01 F.
Spanish Bonds 1821
Lxcliange on London— One Slonth 25 f. 35 c.
Three Months 25 1. 40 c.
• -

On Tuesday night N.Jr..4cKsoN arrived at the
Foreign 0111ce in Downing-street, in a chaise
and four, from his mission to Madrid.
Mr. Secretary CAN:VING arrived in town yes-
terday from Sunning 11111, Berkshire, where he
bad been since Sunday. In the afternoon the
Right -lion. Gentleman proceeded to tin Fa
reign Office, where he transacted business for a
considerable time.

- '['l►e CztANcutott of the Ex'curntiutt transact-
ed business at the Treasury yesterday.

I