The Sun.
London, England, 1819-05-18 00:00:00

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tin; exchanges, that whattyce the balance of trade may be,
the balance of gaytnents is greatly against the country; and
in the opinion of this `Court, there is not much eoconrage-
went to expect ;my material amelioration in the exchanes
for the present; our would a sudden ithprovernent, to What-
ever extent, decide the question, as it is on a 'gradual and
permanent rise only fliat fint reliance ought to be placed.
That, with respect to the Continental finance operations
already ;lidded to, this Court does not etinsiier their it'73n-
rions effects to be bour4ed by the investments which may
have already been made for account of British subjects; but
it is apprehended that-thwe operations, during their
nuance, will contribute to keep the foreign exchanges in an
unsettled state.

That this Court cannot refrain frOm adverting to an opi-
nion, strongly insisted on by some, that the Bank has only
to reduce its issues, to obtain a hscourable turn in the Ex-
changes, and a consequent influx of the precious metals : the
Court conceives it to be its duty to declare, that it is unable
todiscriver any so!id foundation for such n sentiment.

That gold is not superabundant on the Continent is fittly
ascertained ; and it follows that a new competitor going into
the market for au enormous sum, most, by increasing the
demand upon a limited supply, materially enhance the price,
while the quantity would remain the -same. that even if the
gold could be procured, the Mal could Duly pay for it with
-its in,tes.

That it is contended by those Who recommend a rednciion
of the paper-currency, that it will. have the effect of towel—
ing prices, and that foreigners will thereby he induced to
take more of the produce and manufactures of the Country.
That. the Coutt conceives this expectation to be founded
in error, inasmuch as a low rate of exchange has always been
considered most favourable to exports ; but that-even should
a temporary effect be produced, it would probably be only a
disadvantageous auticipation of the regular consumption, and
result it) a serious re-action upon the trade of the coontri.
That this Court.can confidently assert, that the Bank has
never pursued its own advantage at the expellee of the public
interest; and whenever Parliament in its wisdom'shall deco*
it to be most conducive to the good of the country to take off
the restriction, this Court will be prepared to meet the exi-
gency with every reasonable sacrifice; but to expect the Bank
to issue gold at al. I7s. told. ps.r oz., however high the price
in the market may be, would he to impose a heavy' loss upon
the corporation, without rendering any adequate benefit to
the public.

That this Court having thus deliberately expressed its sen-
timents, feels compelled to decline giving any precise answrt
to the first question proposed by the Committee, deeply im-
pressed- as the, directors are, that the resumption of cash+
payments, with safety to the country, must depend upon air-.
cumstances, which it is impossible for them to foresee, and
over which they could exercise no essential controul.
That in reply to the second question, this court is not
aware of any legislative enactments which could at the pre-
sent moment accelerate that favourable alterrtion and per-
manent improvement in the foreign exchanges, essential, in
the opinion of this Court, to the restoration of a metallic
currency; but for reasons already assigned, it is deemed
highly desirable,:that, prior to the removal of the restriction,
the Government debt to the Bank should be gradually re-
duced to the extent of 10,000,0001.

LONDON JOURNALS.

FROM THE MORNING PAPERS OF THIS DAY.

(British Press.l

A Dutch Mail las arrived, with Papers from
Brussels to the 15th instant. The wife of a Pity.
skill►) at Frankfort. stabbed her husband in bed,
and in►licted upon him seventeen wounds. The
crime has made a great impression, and people
assimilate it to that of Sand. The reasons for this
opinion, however, are not noticed. The woman
was probably mad.

[Morning Herald.)
it is among the advantages of the' peace that
many English persons have obtained right no.
tions of France and of Frenchmen. Before, every
thing appeared not as it really existed, but in
beau ideal. People saw France as in a picture,
in which every thing disgnsthig and mean was
sunk, and every thing grand and beautiful was
embellished and enlarged. But when the reality
was approached, the illusion vanished. This sues
cebsive enchantment and disynchantment may be
illustrated by the view of the city of Paris itself.
Viewed in imagination, we behold in it the
Louvre and the Tuilleries, but approached and
examined, we observe, in addition, between those
magnificent and contiguous edifices all that is
most disgusting to every sense. It was thus that
English visitors soon saw there was nothing in
the great nation which should excite their envy,
or rather, they were convinced, 'by their inexpe-
rience, that like the Athenian, they should thank
Heaven for the country it had assigned them.