The Sun.
London, England, 1821-08-08 00:00:00

FRENCH FUNDS.

Aug. 4, Five per Cents.
Bank Stock , 1530 f. c.

CC VIENNA, JULY 25.—Yesterday an English
Cabinet Courier passed through this capital in his
way to Petersburg with dispatches.
" It is affirmed that the Emperor Alexander
has left his capital for the army of Vollunia,
and it is generally supposed that his Imperial
Majesty's arrival at the head-quarters of Count
de Wittgenstein will be the signal of important
events.

." It is said that the Porte has not only refused
to give the satisfaction demanded by the Cabinet
of Petersburg, but also insists that all the Greeks
who have taken refuge in the Russian territory
shall be given up.
" The probability of a war between Turkey
and Russia has, it is reported, determined the
Servians to rise against the Turks ; and it is even
said that a battle has been fought near Miza, the
second town in Se.rvia.

" The English Legation frequently receives
dispatches from its Government, which are im-
mediately communicated to our Minister of Fo-
reign Affairs : they appear to relate to the pre-
sent state of Turkey. We expect, however,
that the first courier from Petersburg will be
the bearer of dispatches which will put an end to
all uncertainty on this point.

"We learn from Odessa, that a squadron,
composed of Algerine vessels, and of some ships
belonging to the Pacha of Egypt, which were
sent to the assistance of the Ottoman fleet, has
been defeated, and many of them captured by
the Greek fleet, 'which cruizes between the
Islands of Candia and Cyprus. It is added, that
a fresh Turkish fleet, consisting of nine ships of
war, has sailed through the Dardanelles.

" Letters from Constantinople state, that
since the last bad news from the Morea arrived,
a meeting or-the Ministers took place on the
2.3 d of June. They determined on endeavour-
ing to engage the Janissaries to select from
among their body a corps to proceed to the
Morea in defence of islamism ; but not only did
the representatives of the Janissaries, who have
seats in the Divan, refuse to accede to this pro-
position, but they added, that their constituents
had changed their opinions respecting the new
regulations, which they before approved, and
that every thing ought to revert to the old
footing.

CC FRANKFORT, JULY 30.—1 t is reported that
the new Emperor of China has been assassinated:

44 We have received letters from Corfu which
announce the continued success of the Greeks in
the Moreau who have compelled the Turks to
evacuate all their fortified towns in that province.
Epirus and the neighbouring countries are in
complete insurrection. The Greeks have sent
3000 men to the assistance of Ali Pacha, who
has thus been enabled to drive the Turks % from
Joannina and Trikala. The insurgents have
formed a large camp in Macedonia ; and an
Ottoman fleet, which ventured into the waters
of Corinth, was immediately captured.
44 Several districts of Walachia addressed, on
the 21st of June, a letter to the Russian Consul,
in which they entreat the assistance of his Sove-
reign, afte: having enumerated all the atrocities
committed by the Turks against the Greek
nation.

64 On the 16th of this month a letter reached
Trieste, announcing that Adrianople, the second
town in European Turkey, containing 130,000
inhabitants, and only 55 leagues from Constanti-
nople,had fallen into the hands of the Greeks after
a sanguinary battle. The latter are said to have
lost 6,000 men and one of their Generals named
Duroc, supposed to be a Frenchman. This news,
however wants confirmation.

" The last letters from Constantinople came
down to the sth of July. The preparations for
the defence of the capital are actively pursuing.
It is said the Grand Signior will put himself at
the head of the army, in the event of a decla-
ration of war on the part of Russia. It was
also proposed to display solemnly the stand-
ard of Mahomet, in- order to collect all the
true believers for the defence of the Crescent.
The Ottoman troops on the left bank of the
Danube have received reinforcements, and more
are expected from Constantinople. On their

side, the nussians are on the alert, and wait only
for orderi to advance.

" The reports in circulation respecting the arrest
of Prince Ypsilanti are void of all foundation.
This chief of the Greeks has taken a circuitous
route, and ought, by this time, to have reached
the Morea."

GREAT REDUCTION IN THE ARMY.—Ministers
are on a large scale redeeming the pledge
which they gave at the close of the last SessioU
of Parliament, and which Was promised from
the Throne, to practise every possible retrench-
ment. We are now enabled to state in an authen-
tic manner, that the following reductions are de-
termined upon, viz.:—
Two Regiments of Cavalry to be disbanded, v z.: the 18th
and 19th Light Dragoons.
Two troops to be reduced in each of the remaining regi.
meats.

Two companies to be reduced in each of the battalions of
Foot Guards and Infantry of the Line.
The whole reduction to amount to about TWELVE THOU-
SAND Officers and men.

The saving of expenditure by this important
measure will not be less than six hundred thousand
pounds per annum !—We take the liberty to sug-
gest, that when annunciatious of great public in-
terest are made by G overnment, they should appear
in an official form in the London Gazette, or at
least that they should be sent without distinction
to all the daily newspapers, for publication. We
have, on a former occasion, thrown out this hint;
and we are more and more satisfied of its pro-
priety. When any fact, calculated to be grati-
fying to the people, is communicated in a demi-
official manner, only through the medium of this
or of the other papers which generally support
Ministers, the Opposition Writers never fail to
throw discredit, as much as possible, upon the
statement, by the manner in which they introduce
it to their readers:—such as, "We copy from a
Ministerial Journal, so and so ;" and, 44 if this
should turn out to be correct ;"—" but so little
reliance is to be placed on the intentions of Minis-
ters," &c. &c. Now, if all annunciations of great
importance were at once Gazetted, or if the same
official statement were given both to the Opposition
and the Ministerial publications, the gratification
of the public, on any event of interest, would be
undiminished by the doubt and distrust, which a
certain class of persons never fail to create, by the
air of sagacity with which their ifs and their buts
are cast upon it. For our own part, from our
general attachment to Government, and our sin-
cere and anxious desire to see the public mind as
much as possible tranquillized, and gratified by
the conduct of their Rulers,we are quite willing to
waive the advantage -which no doubt arises from
THE SUN being considered as one of the demi.
official organs of the Government, and should be
truly glad to find that the course which we have
recommended is acted upon in future.--However)
with regard to the intended reductions :
though retrenchment and economy are certainly
in themselves desirable, and we cannot but re-
joice, in some respects, that this boon is granted
to the wishes of the people, yet the measure is
not so much one of unmixed good and congratu-
lation as many persons may suppose. We shall
say nothing here of the probability of a war in
Europe, though, if appearances are to be trusted,
the commencement of hostilities is not far distant :
and at such a moment it would be any thing but
good policy on the part of England, to diminish
her armed force. But, with reference to our do-
mestic condition alone, the effects will not and
cannot be so immediately felt to be beneficial
as most persons may be disposed to think.—
Indeed two or three 'years at the least must
elapse before the advantages of this proceeding
can be observable, while its immediate conse-
quences, except in a financial point of view, must
be injurious. It is pretty generally admitted,
that one of the principal causes of the existing
difficulties of the country is the very lozo price of
labour, in many of the branches of national in-
dustry,—the consequent injury inflicted upon the
home market for every description of produce,—
and the very low price to which all kinds of
produce are thus necessarily reduced. Now, it
must be remembered, that the object of
the intended reductions is not to enable taxes
to be immediately taken cf, though it will WU-
matily produce that effect, in proportion to its
efficacy in reducing the amount of the national
debt, This is not, however,the immediate object
of the reductions. Their immediate object is
only to improve the finances of the country,—to
place our income and expenditure in a more pros-
perous relation to each other than they now bear.
But, though this is in itself a very desirable re-
sult, and though it is, indeed, a financial opera-
tion, which is indispensable ; yet it is not one
which was necessarily dependent upon retrench-1
ment. It could have been effected by increasing
the income, as well as by diminishing the
expenditure. Ministers, probably in deference
to public opinion, have preferred the latter
mode ; and it is only right that the public
should be made acquainted with the peculiar
disadvantages as well as the advantages of
the course which has been adopted. That
course) so far from immediately diminishing the
public burthens, must immediately enlarge them,
by increasing the poor's-rates ; besides to a cer-
tain extent occasioning a further depression in
the value of labour, and inflicting a further injury
on the home market, both for foreign and domes-
tic commodities. The beneficial result, as we
have already stated, is remote, and is purely
financial. The market for labour, already over-
stocked and injuriously depressed, is about to have
twelve thousand able-bodied men suddenly
thrown upon it. The disbanded soldiers. must
increase the depression; and must either be
thrown for subsistence upon the poor-rates, or
they must displace, and throw upon the.parishes,
a certain portion of the labourers who now have
employment ; and thus, by increasing rather
than diminishing the burthens of the people, the
reductions must tend rather to aggravate than to
relieve the difficulties under which all classes
now labour.

POETRY.

TO THE ROSE.

BY 11--...-4 T.

Nature's fairest flower adorr:ing

All the variegated vale,
Wet with pearly dews of morning,
Breathing fragrance to the gale:

Tho' the rising sun-beams render
Thy rich crimson fresh and gay,
Yet thy transitory splendour
Lasteth but one little day.

Ere the Sun's bright rays declining,
Paint with red the azure sky,
Those vermilion cheeks so shining,
All shall wither, fade, and die.

Thus joy's short-liv'd pleasures tasting ;
Youth exults in early bloom,
Till some storm its beauty blasting,
Sinks it to the silent tomb.