The Sun.
London, England, 1834-01-25 00:00:00

LONDON,
SATURDAY EVENING, JANUARY 25, 1834.

The French Papers of Wednesday and Thurs-
day are filled, for the most part, with specula-
tions respecting the late important political
changes in Spain, which seem to have been
brought about by the adhesion of several Cap-
tains-General to LLANDER'S late famous de-
claration.

Don CARLOS was still at Villa Real, in a
state of uneasiness, and using every precaution
to prevent a surprise.

FRENCH FUNDS.-PaRtS, JAN. 22.
Five per Cents., 1041.95 c. 1051. 104 f. 95c.
Four per Cents., 91f. 85c.
Three per Cents. 75f. 25c. 20c.
Bank Actions, 1,7151,
Rente de Naples, 91f. 901 80c. 90c.
Roman Five per Cents., 91%.
Rente d'Espagne, Five per Cents., 1834 20.
Rente d'Espagne, Three per Cents., 36% 4 34.
Royal Spanish Loan, 74 71% 72%.
Rente Perpet. d'Espagne, Five per Cents., 58 57%34.
Belgian Loan, 1831, Five per Cent., 97.
Haytian Loan, 2651.
EXCHANGE ON LONDON.
One month, paper, 25f. 30c. ; money, 25f. 25e.
Three months, paper, 251. 15c.; money, 25f. 10c.
-fours Authentiaue.
FRENCH FUNDS.-PARts, JAN. 23.
Five per Cents., le4l. 90c. 80c. 70c.
Four and a Half per Cents, 100 f. 70c.
Four per Cents., 92f.
Three per Cents., 751. 74f. 95c. 85c.
Bank Actions, 1,710 f.
Rente de Naples, 90f. 80c. 60c. 50c.
Roman Five per Cents., 91%.
Rente d'Espagne, Five per Cents., 20 19% 20.
Rente d'Espagne, Three per Cents., 56 35%%.•
I?oyai Spanish Loan, 7134 69 68.
Route Perpet. d'Espagne, Five per Cents., 5614 M 34 5514
Belgian Loan, 1831, Five per Cent., 56% 97.
Haytian Loan, 270 f.
EXCHANGE ON LONDON.
One month, paper, 251. 30c. ; money, 25f. 25c.
Three months, paper, 25f. 15c.; money, 20f. 10c.
-fours Autheillique.

German papers mention, on the authority of
letters from Napoli, that an investigation into
the causes of the late conspiracy there is rapidly,
but silently, going forward, and that many more
persons have been arrested on suspicion of
having taken a part in it. The following are
the only extracts worth making from these
papers :

BERLIN, JAN. 11.—The restless importunity of the
estates assembled in our western provinces, for the intro-
duction of a general representation of the kingdom, has
again manifested itself, and even called forth, in sup-
port of the application, numerous complaints against two
of our ministers. It must he owned that this circum-
stance is the mwe unexpected, as, by the visit of our Crown
Prince to their provinces, nothing appeared so firmly con-
solidated as the bond of reciprocal confidence between the
Prince and the people. We will not blame, as they seem
to deserve, the Rhenish provincial assemblies, for their
violence, which gives foreigners a ground for malicious
inferences, but which entitles them to entertain
doubts of the goodwill of the head of the State ? Why
do these provinces give a gloomy view of the opinions
and intentions that are entertained here ? Who has given
the otarnp of official authenticity to all those unauthorised

voices that have sounded from hence respecting representa-
tion, a free press, and the spirit of the times ? Have the
gloomy notions of some theoretical liberals here, and of
certain provinci d geniuses, ever been recommended to
imitation ? No ; we are not only in the undisturbed
enjoyment of many advantages, which we owe to the wise
prudence of our King, but shall obtain others that are
promised us for the future. The Prussian State is
destined " by its historical position to be governed on a
grand scale." The general estates of the kingdom are
a necessary part of such a system, and the time will come
when the measures that have been preparing will be car-
ried into effect. But people must not believe that it
would be better in this moment of uneasy reciprocal
mistrust to build the main edifice, when the foundations
are not every where completed.—Allgemeine Zeitung,
Jan. 19.

VIENNA, JAN. 14.—Five per Cents., 95 23-32 ; Four
per Cents., 86 ; Bank Shares, 1,2331.

The rise which has taken place, and continues
to take place, in the exchangeable value of money
is as little known or understood as foreign
exchanges, or the Mint price of gold and silver,
which we have endeavoured to render intelligible
to our readers.

The rise began in the year 1811, owing to
the defalcation in the supply of gold and sil-
ver, from the revolution in South America,
which took place in the year preceding, and
overwhelmed the mines. That the rise in the
value of money began, and produced a great fall
of prices in that year, our exports which are
given in declared as well as official value, afford
indisputable evidence ; official value is a rate,
fixed in 1696, when our table of exports
was first established, of so much a yard,
pound, hundred-weight, and ton. This rate
never varies, and thus not only shows quantity
but also affords the means of judging of varia-
tions in prices by contrasting it with the declared
value, which is what is declared to be the actual
value by the exporter at the time of export, and
was not required until 1797, when it was fore-
seen that the Bank restriction, which commenced
in that year, would have an effect upon prices.
Now the amount of our exports in official
value in 1800, was 22,831,9361. and in declared
value 36,929,0071. Declared value continued to
gain upon official value until 1811, when our
exports in official value were 21,723,532/., and
in declared value only 30,850,6181., so that
an amount of exports in 1811, only 1,108,4041.
under official value in 1811, were 6,078,329/.
less than the amount of declared value in 1800 ;
and, since 1811, official value has continued to
gain upon declared value, the amount of which,
upon the exports of last year, was only
36,444,5241., of which the official value was
65,026,700/.

The period, therefore, when money began to
rise in exchangeable value does not admit of
dispute. It unquestionably bega❑ in 1811,
though it has been generally but erroneously
supposed not to have begun till 1819, when the
Bank was directed to make preparation for the
renewal of its payments in cash.
The amount of the defalcation in the supply
is not capable of being reduced to so much
certainty. In a letter which Mr. JACOB wrote
to Mr. TOOKE, and which the latter gives in
a note to a supplemental section in his book
upon high and low prices, the defalcation is
stated to have been no less than equal to three-
fourths of the previous supply, which, upon the
average of the ten years preceding 1810, is
stated to have been at the rate of nearly
forty-eight millions of dollars, or 12,0001.
sterling per annum, and upon the ave-
rage of the ten years subsequent to 1810
not to have exceeded 12,000,000 of dollars,
or 3,000,0001. per annum sterling. 'Whatever
the defalcation may have been, or may continue
to be, it must bring down prices to a commensu-
rate amount, for we and all the world purchase
gold and silver with the products of industry,
and if, with a supply of the precious metals dimi-
nished to one fourth, one third, or one half of
their previous annual supply, we continue to re-
quire the same quantity we did when that supply
was four times, three times, or twice its present
amount, we must give so many more, or so
much more, of those products in exchange for
the gold and silver we continue to require ; in
other words, those products must fall so much in
price. •
/n proportion as money rises in exchangeable
value, prices not only fall, but so much less of
it becomes necessary for the purposes of currency.
Hence in this country, where gold is the
standard of value, and paper circulates with it
as currency, the gold so circulating returns to
the Bank when it is not wanted for the pur-
poses of currency, that is, when there is more of
gold and paper circulating together than are
required for the purposes of currency, by reason
of the continuing rise in the exchangeable value
of money, a portion of the gold, but not of the
paper, returns upon the Bank, in order to
escape from the depreciation of exchangeable.
value, which would otherwise fall upon it. But
the Bank, not being aware of this consequence
of the rise of the exchangeable value of money,
issued more paper in proportion to the gold,
thus coming in, so that the gold, being no longer
able to escape depreciation in its exchangeable
value by returning to the Bank, betakes itself
abroad, that is, the currency becomes so
much more depreciated, and so much profit
call be made, by sending gold abroad,
that notes are sent into the Bank for
gold to be sent abroad, until the paper of
the Bank, by a portion of it being thus returned
upon it, becomes equal in exchangeable value
with gold, when the remainder thus continues
in circulation, and ceases to be sent in upon the
Bank for gold to be sent abroad.
Ihe ignorance of the Bank, in this respect, is
the cause of over-issue.

A dramatic sketch containing much novel
inter..st is, we understand, to come out at the Fitzroy on
Monday next. Its object is to illustrate the manners and
customs of Corsica.
Mr. W. Farren, we hear, is about to make
his appearance shortly in a striking new character at
Drury•lane, the same that Samson has been playing with
such effect at the Theatre Francois in Paris.
BURIED ALlVE.—Extract of a letter from
Fraunfeli, in Switzerland, dated the Bth instant :—" On
the 6th, a monk of the convent of Eschingen being dead,
his brethren, after the usual ceremonies, conveyed his
body into a subterannean vault, used as the comtnon
burying-place, where the deceased members of the com-
munity are laid in sight coffins, without any other entomb-
ment. Judge, however, of their horror, when, on re-
moving the stone that covers the entrance v-au4, they found
at the top of the steps the body of anotier monk who
had been buried ten
.days before. It appeared that he was
not dead when carried down in his coffin, but only in a
state of lethargy, from which he had revived, and con-
trived to reach the spot where they found him, but being
unable to remove the stone or make himself beard, bad at
length died of exhatnnott.