The Sun.
London, England, 1824-02-21 00:00:00

al Regime! and a Royalist Minister (what a con-
trast !) to see the rentes at par. How much of this
great consummation had been accomplished by a
few energetic holders on the Stock-Exchange
here, and the gentlemen of another religious per-
suasion, we shall not attempt to say ; but the
French Journals will acknowledge no auxiliaries
—all, according to them, is due to the constitu-
tional regime and the Royalist Minister. The
Moniteur has no intelligence of any importance.
The Etoile contains Ferdinand's last Decree on
the trade of South America. But this is mere
waste paper. How can the Spanish Tyrant or
his Ministers regulate the trade of a continent
over which he has no longer any controul ? How
can he establish Custom-houses " where duties
on importation and exportation shall be imposed,"
where, with the exception of the Castle of St.
Juan de Ulloa, Spain has not in all Mexico a
single strong place or possession beside ? In the
same spirit of assumption, the fifth article of
this Decree declares, " That there shall. be
" determined by regulations on this matter,
" what advantages, preferences, and franchises,
" should be granted to Spanish trade,navigation,
" agriculture, and industry." The conclusion of
this Decree is equally imbecile ?—" The Ame-
" rican Spaniards (it says) will see in these mea-
" sures a fresh proof of my strong desire to
" increase their prosperity ; the European Spa-
" niards, the firm resolution to secure to them
" the franchises and preferences to which they
" have a right ; the bona fide traders of all
" countries, the intention of preserving and fa-
vouring existing mercantile relations, and the
" advantageous employment of their capitals ;
" and lastly, friendly and allied States and So-
" vereigns, a public testimony of the price I attach
" to the preservation of the harmony and good un-
" derstanding which unite us." This Decree, and
those which have preceeded it, are an idle and
vain-glorious assumption of authority over South-
ern America, which will never be realized
That Continent is now beyond the power of
Spain. But these manifestos have been con-
certed with the French Cabinet, and not put for.
ward without deliberation and purpose. The
supremacy of Spain will not be abandoned with-
out a struggle ;an effort to recal it, of some sort,
under the Councils and with the aid of France,
will ultimately be made. These impotent De-
cress are but the heralds of such a measure,
which, when made, will be completely powerless
and unavailing.

[MORNING h ERALD.]
The following is an extract of a letter from
our Madrid correspondent, dated Feb. 5.—" In
the discussion upon the recognition of the debt
of 31,000,000 of francs to France, the Infante
Francis was the only one for the recognition;
the King Don Carlos and the Ministers were
against it, and it was only the menaces of the
French Ambassador and the assurances that the
French army were on the point of quitting
Madrid, that brought them to compliance.
There are various surmises as to the nature
of the security given for the payment. Some
persons, who are not without means of know-
ing what has been done, pretend that Cadiz, the
Havannah, and the tobacco and salt duties have
been mortgaged for that purpose. Since the ar-
rival of M. Marcellus here, considerable bustle
and activity are observable among the Diplomatic
Body. The French Gardes du Corps are prepar-
ing for their departure, which is to take place, it
is said, after to-morrow. This is not a little asto-
nishing, for I know that some days ago, as I
informed you, they received counter orders,
nor shall I still credit the fact until I see
them set out. Count Bourmont having learned
that the Royal volunteers intended to make a
military promenade outside Madrid on the Ist
instant, demanded the motives, and was told
that it was merely to exercise the troops, and
make them go through their evolutions. But
whether believing this story or no, he ordered a
regiment of French cavalry to march to the same
spot, and, at the same time, such is the distrust
which is entertained by him of any armed force
here but the French. The inhabitants of the
village to which the troops marched, not be-
ing warned of their approach, fled the greater
part of them, while those that remained shut up
their houses, and barricadoed their doors and
windows, so that the brave volunteers found no
means of satisfying their appetite, sharpened by a
morning march. Letters from Cadiz confirm
what I told you in my last, relative to the re-
fusal of the French General to allow Burriel,
Escocio, and others to be arrested. The only
other fact of any interest they contain, is an
order to the Officers of the ex-National
Militia in the Isle de Leon to quit it imme-
diately. Letters from Barcelona show that
considerable mistrust is entertained by the
French of the intentions of Baron D'Eroles.
Since his arrival in the neighbourhood, extraordi-
nary measures of precaution and vigilence have
been adopted. In the town, there is nothing but
peace, good order, and well regulated liberty—
an order of things that would very quickly be
changed if the Baron were to make his entree
there. All those who had been dismissed
from the regiment of Carboneers by the
Cortes, have, by a Royal Decree, been re-
called into service. The elevation of M. Ugarte
to Secretary of the Council of State, has excited
no little attention on account of the motive of his
elevation, as stated in the Decree for his appoint-
ment, which is as follows :—ln recompense for his
zeal and fidelity in risking his life by executing un-
der the Constitutional Government orders and com-
missions received secretly from the King. It has
been remarked as a curious coincidence, that the
very day that the editor (Monk) of the Restau-
rador, received the order suppressing his paper,
was the anniversary of the holy founder of his
order. The Afrancesados are in high spirits, for
they pretend that the King signed, on the 2d
instant, a particular amnesty in their favour,
which, though not all that they could have
wished, is still acceptable, as by it his Majes-
ty declares that he considers them worthy of
being employed when proper occasions shall
offer. Indeed many of them have already been re-
placed since his Majesty's return to the capital.
The am Testy for the Liberals will not appear, it