The Sun.
London, England, 1826-02-21 00:00:00

increased, it became necessary—because it is
avowed that there is not gold arid silver enough to
.supply the vacuum—to allow the Bank of England
to continue their issues of 11. and %I. notes until
October next. It was very triumphantly remarked

by the Minister last night, as an argument to
Ahevr that excessive issues need not be dreaded,

that the only means of giving circulation to these
notes were the Country Bunkers ; that the
Bunk could not throw their notes out of the
windows ; and consequently that any such
fear was groundless. Let us suppose this
triumphant remark correct (and facts, indeed,shew
it to be so), what will be the consequence to the
new measure, but total defeat— it will render
it perfectly nugatory and inoperative. The
Country Bankers contracted their issues, when the
Bank of England was (like themselves) forbidden
to issue one and two pontiff notes. Is it then to
be credited that they will now cease to do so—
or do the Ministers hope that these country
bankers will send into circulation the One
and two pound notes of the Bank of England,
whilst they are prohibited from issuing notes
of like value on their own account ? It is clear

they would not. They will accumulate these
notes in their drawers as fast as they can, and
they will then forward (IMO to London with in-
structions to carry them to the Bank and demand
gold for them—not an exchange of paper, as in the
happy days of cash restrictions, but good honest

gold, the current legal coin of the realm. And
whence is it to C 01114! ? Mr. CANNING says the me-
tallic currency is not sufficient to supply tile
vacuum, and proposes to throw in the paper
of the Bank of England for a limited pe-
riod, in order to aid the return to true
metallic currency. The value of this aid is easily
estimated, for it is simply the interposition of a
third party, before the note can,ba returned to
the Bank, and gold demanded in exchange, and
if it should not prove effectual what consequence
mast follow ?

The opposers of Ministers may► then, quiet
their fears, and the lovers of metallic currency
continue to enjoy the prospect of its return.
For under the present policy return it will, and
that more speedily than the Administration either
suppose or desire—but public distress and private
disaster, must mark its progress now. All this,
however, might have been prevented, and Vie
benefit of a metallic currency secured, but for
that fatal measure, and predisposing cause—the
impolitic attempt prematurely to Reduce the In-
terest of the National Debt.

The French Pupers of Saturday are devoid of
interest, and seem chiefly filled with the observa-
tions on the distress that now prevails through•
out Englaud. The accounts from Russia, con-
tained in these Papers, merely slate, that the
Funeral of the Emperor Arax.s.Nnua will be -se-
!anted on the l•Wth March. The Princes
Onor.ENsLir and Tsclitsent-NosTowsuY have
been sentenced to death for the part they took
in the late conspiracy :

FILENCIt FIINI/3.-PARIS, FED. 18.-FiYO per Cents.
96f. 25c.—Three per Cents. 6.1 f. 50c.—Bank Stock, 2,000 f.—
Iterate de Naples, 72f. 70c.—Itente d'Espare, NE—Royal
Spanish Loan, 474.—Ilaytian Loan, 770.—Exchange on Lon-
don, one month, 25f. 50c. ; three months, 25f. 30c.—(Conrs
Authealique.)

There was au arrival of. German Papers this
morning, from which we have made some ex-
tracts. It will be seen that the true believers
of the Turkish Capital have been manifesting
their discontent with. Government by the usual
demonstration—firing the City in those quarters
occupied principally by the Greek population,
and the Ambassadors of Christian Powers:--.

COXSTAIITINOPLE, JAX. 12.

The fire broke out In Galatia at the beginning of this month
caused great alarm in Pere also. The loss which the Chris.
tians have suffered by it is very great; many persons estimate
it at 50 millions of Piastres. Since that time about 2,900
Asiatics, employed in the Arsenal, have been sent to Scutari,
because there is no doubt that they, with a number of turbu-
lent Janissaries, were the authors of it.
The accounts from the theatre of war are rather more favour-
able to the Greeks than had lately been. Ibraham Paella is said
to be at constant variance. with the Seraskier, Itedschid Pacha,
commanding in %Western Greece, and the Albanians seem to dis.
like the winter campaign remaining for the most part inactive.
Time will soon chew whether we may give credit to the report
spread by the Greeks, of a defeat of Ibrahim Pacha. near Co,
rinth.—But it is, however, evident that his operations have no
hitherto produced any decisive result.
_

ROME. JAN. 31

The Carnival began on Saturday, the 28th, btu the con
course of people was not great, and there were hut few masks

The church has just lost a worthy prelate in the person of
Monsignore Codronchi, Archbishop of Ravenna. He was re-
markable for his piety, and fords love of the arts and sciences.
The Archiepiscopal Palace and the Cathedral of Ravenna are
indebted to him for many improvements, and the collection.of
documents and MSS., which he preserved from destruction,
and placed in his palace, will render his memory dear to future
historians. The poor lose a father in him. Ferrara is also in
danger of losing
its Archbishop Cardinal Odescalchi, who is
come to Rome for the purpose, it is affirmed, of sending to his
Holiness his resignation of the Archbishopric. Father Fontana,
of the Convent of the Holy Cross in Jerusalem, died lately at
a very advanced age. flu was the first editor of the Giornale
Becksiarlico. When it was revived he reserved the chief direc-
tion, but gave it up again a short time before his death.