The Sun.
London, England, 1826-02-07 00:00:00

TO E LONDON' JOURNALS.
DAILY
Extracts film the Morning Papers, Feb. 7, 1826 L

[MORNING POST.)
Every thing announces that igte,-•presenUSes..
skin of Parliament 'will be of Wert duration.—,-
The House of Lords, which has generally to wait
till measures reach it 'from the Common's before
it can be said to engage seriously into business, is,
this year to proceed paripassu legislating with
the .popular or representative Branch, and in that
manner much- time will be gained.- The Earl of
Liverpool intimated last night that this was the
course which he intended to adopt. After laying
°tulle table copies of the various, Treaties and
Conventions mentioned in his Majesty's Speech,
his Lord Ship stated that it was a matter of consi-
deration whether of the two measures intended to
remedy the present and to prevent future evils,
one should not originate with. the House of Peers,
It'seemed to be hii opinion that it should, and
he afterwards announced that he should probably
iiitroduce the measure this evening, or fix a day
forAhat purpose. At the suggestion of the Earl of
Lauderdale, he also promised,on the second read.
ing of the Bill, to explain the nature of the sister
measureovhich- would be brought in at the same
time in the other House. As those measures,how.
ever, were.. `more than generally described by the
Noble Earl on the first night:of the Session, any
future explanation will serve chiefly to afford an
opportunity for discussion, little remaiiiineto
be known about their character and their object.
The Earl of Carnarvon inquired whether it was
the. intention of his- Majesty's' Government to
propose the appointment of a Select Committee
to inquire into the causes of the distress existing..
its the country, and into the state of the circu-
lating medium as connected with that distress.
The Earl of Liverpool declared that his Majesty's
illinistetS had no such intentiens ; and indeed in
a :case when the evil is pressing and its :causes
apparent, to lose timoin useless investigations,
instead of administering immediate ,remedies,
might gratify the curiosity of theorists, but would
be' little 'worthy of the wisdom of patriots and
of statesmen.' The Marquis -of Lansdown gave,
notice of a motion on next Thursday for informa-
tion relative to the circulation of notes, and the
Earl of Lauderdale moved for accounts of the mar-
ket price of goldond the course of exchange with
Hamburgh, Lisbon, and Paris,
.since 1822 to the
present time, which were 'ordered to be. produced,
On Thursday next, the Earl of Caernarvon will
also move fur returns of. the issues of Bank of
England notes, and (lithe amount of notes stamped
fo'r Private flanks from 1790 .to the present time,
unless the Noble Earl should by that day have
seen .cause to follow the advice given him from
the Treasury Bench, to. save troubl6 expellee,
and time, by using,the Iteperts which are already
before the Douse, anti which, in conjunction
with their appendices, contain the fullest infor-
mation 'on those subjects. Little was done in
the
.Comi»oes last night, besides presenting
patitions, chiefly from manufactimrs, against the
importation of foreign silks, and giving no-
ticec Some of the latter relate to ini-
pertent subjects. On the 28th instant, for in-
stance, Mr. ‘Vhitmore will bring the question of
the Coro Laws before the consideration of the
House, On the 14th Mr. Secretary Peel will
pursue the course of legal ameliorations which lie
has so successfully begun, by introducing a Bill
for further regulating Juries; and on the 7th of
Mardi he will propose another lttconsolidate the
whole of our In relating to the Larceny and
Theft--a potice which was loudly cheered by
the House. On, the 7th of March, Mr. Maberley
is also to move for the total, Repeal of the As.
sessed Taxes, a measure of which he founds the
practicability this year on his behalf (which Mi-
nisters as well as ourselves would be happy to
find correct) that in a few weeks or months a
the present embarrassments of the country w
subside.

[THE TiMES.I
The accounts of the state of commercial and
banking credit yesterday are interesting. The
reflection which occurs most frequently and most
strongly to our minds, on the present etubarrass,
meats, is—if the practice of over-issue and
babble speculation bad been suffered to condone
for a longer period, what 'would have been the
consequences; when, arrested a they are now
the re=action is so fearful ? It was a wholesome
panic that sprang up some two or three mouths
ago respecting the isoundness of the Money
Market. A pity that it did not spring up earlier,
and act as a prevention rather than a cure.—
Thousands—we do not mean of money, but--of
men, "Might, have been saved. But providential
above all things has it been, that a blind confi-
dence has not gone on till it plunged us intg ir-
remidable ruin. "In np case," says our City ar-
ticle, " unless in an affitir of urgent necessity,, is
" any new business entered upon." Does not this
fact prove, beyond dispute, the nature of the evil
from which we are retreating ? Oh, no Too many
new
businesses were entered 'upon recently I
After a feast comes a fast," says the old pro-
verb. We might have had funds for any prudent
commercial speculation of moderate extent, and
promising a reasonable return of profit ; but our
means belie been consinninv—as the prodigal
burned his candle—at both ends, While Go-
vernment has been plundering us on the One hand
for the support of a peace establishment more
than Sufficient to carry en a war, we, on the
other, have been converting our fictitious credit
into paper, and lavishing the flimsy currency
upon schemes of wild speculation, by which we
were to' be suddenly and wouderously enriched
in substance. The bubbles have burst, and we are
distressed; " Thank God it is no worso !" say the
wise and prudent : a twelvemonth more of the
late inflated prosperity would have ruined us.—
NOW, as to the remedies: prices, we presume, may
cadre -down a little. Some people apprehend a
fall that must be roost destructive, from the re.
call of one and two pound country notes. But
why, shonld the- effect su-much exceed the cause?
'Whatever proportion that trash bears to the' go-
neral mass of circulation, by so much might
prices declines provided no substitute were sup.