The Sun.
London, England, 1810-11-27 00:00:00

in the last the 1:4!•,t dear (HM) did not ex.
coed 7 per cent."--Ar,d they observe, " that an ex-
pence to this extent does not afford an adeqUate ex-
planation of a fail in the .exchanges, so great as
from its to 20 per cent. below 'par." " The in-.
creased cost," they add, " of such remittance would
explain, at those moments when the risk was great-
est, a fall of sotnethilig more than 7 per cent. in the
exchange with Hambargh and Holland, and a fall
still greater, -perhaps, in the exchange with Paris ;
• but the test 'of the fall, 'whiCh has aCtually tai:en
plaCe, remains to be explained in some other man-

:serf'
The expence of •sendine gold abroad W3s in no
degree less in the spring of 181Q' than in the au-
tumn of 1809 and it follows, therefore, that, ac-
cording to the statements of the Committee, the
lees on the Dutch exchange, ire the months of
March and April last, was exa6tl)eequal to the ex-
pence of sendhig gold as a remittance; on that on
Hamburgh 2 per cent. greater;
,and that on the-ex-
change.with.Pinis, it was undefined, because the
expense of sending gold to Paris was not ascertain-
ed. Accordioeto Mr. Nleshett's calculations of the'
par between LonclOn and 'Paris, the loss' on the
French exchange was 2 per Cent. more than the
expence of sending gold to Holland:—As- this was
the state of things tor some months prior to the
date of the Re-port, and et the period when it was
l'resented, it will, perhaps, with some, be a sub-
ject of regret, -than the passage referring to the ex-
treme of the lowest depression of the exchange
was not expunged, as the event had_ proved it to
be one of those temporary .effeelS which the
Committee had previously determined to disre-
gard.
'Whether, however,: the difference, which re-
mains to- be accounted for in some other manner
be 2 per cent' Jr 1 i per cent. it is not necessary to
travel out of the Report to assign a cause for it,
without recurring to. depreciation :--`t Referring to
the evidence of- a continental merchant, oil whose
opinion the Committee appears to place much re-
hence, they state :—That poliric l events, operat-
ing upon the state of trade, may often -have con-
trtbuted as well to the rise as to ehetall- of the ex-
change ; and, in particular, that the first remark-
able depression in 009, is to be aeeihed, as has
been stated in the evidtAll.,e already quoted, to corn-•
utercial eyelets, arising Lee of the occepation of the
Zelorth ,of Gerreraiiy by the troops of the French.
Emperor ; the evil has been, that the exchange,
when fallen, has not had the fell means of re-
covery, under the existing system :"-eltese means
am explained to be, " the clandestine transmission
gehreas, which improved it for the moment by
>trying as a remittance."
Thus, then, it appears, that on a full admission
of all the jeioci, les adopted by the Committee,
and of their application to the present case, the
foreign exchanges were at the time when the 'Re-
port was presented, arid fur three months prior
thereto, about 2 per cent. le low the natural liMit
of d•pression ; that this excess was the remnant of
a much greater depression, occasioned by political
ceents in the preceding year, during e period in
which the means of exporting_ English gold coin,
at the e iet-;rice, in paynteni of debts, were with-
held.—When it is stated that, for 6 ini,ntliS sitice
the date of the Report, the exchanges have Ct.ll-
- about the same standard, or rather high-
,er, and that at present the lo.s on the exchange is
barely equal to the expence and risk of transporting
gold, it will probably • be thought that the question,
as a practical question of national importance, is
altogether at rest.—Tle.t there i, no • necessity, at
least, for the adoption of hasty remedies, even
though the correctness of the general reasoning of
the' Committee should, on full healthy, be conced-
ed, But I d not admit its correctness : Ido not
believe that the fall of the exchange and the en-
creased price of 'bullion -indicate excess and con-
sequent depreciation of uur pager currency ; arid I
doubt it, because the premises, on which• ties opinion
is bounded, are unsound, an the conclusions con-
trary to experience.

SPAIN

PROCEEDINGS OF THE CORTES.

TUESDAY, OCT. 30.

acconnt was presented of an Order of the
Conned of Regency of the 25th instant, w bleb, in
consideration of the signal services, the, military ta-
lents, the victories, and other advantages gained by
Henrique O'Donnell, decrees to the said General the
title of Count of 'Bi,bal, free from all taxes or con-
tributions. The Consideration of this order was
fared.
Passed to the Committee of War an application on
the part of the Cadets establisheclin the Isle of Leon,
praying lot some improvements in 'their situation, and
the rani: which the law prescribes. •
Another application ‘A as made to the Committee
of Justice by Dun Abel Alvarez, of the town of
Rloseco, who having bs.:en in' prison for more than
five years, in coustquetice of 'a cause conneded
with the House of 'l,!rre, of the city of Cadiz,
praying the Tribunal would order an enquiry into
tie same,
The Deputy D. PEDRO ANTONIO PE ALGUIIIE (of
the COtrunir tee of Financ.-) explained in a iteport,`of
which an account has been given, the impossibility
nf'forthing any plan of Administration that %villein-
brace ,all departmetits, unless the Executive Poser
previously fixes the state of the publiC revenues, the
-expences, the r..cerpis, and how much may
he thought necessary fck present exigences'i con-
cluding that,,;vithout 'such positive data to dirett
them, the Committee would not pursue their labours
with any advantage.. On this subject some very
eloquent speeches and powerful arguments were
heard ; but the greater part of the Deputies agreed
that, in the present circumstances, and on so criti-
cal an occa ion, without prejudice to any general
jitan -of giioatrce
_that may hereafter be adopted,
speedy 'and effectual remedies ought now to be ap-
Vied, such as the present existing circumstances re-
.

. .
411 ire. . .
• The Report of the Committee of Justice .vas read,
resreaing the case of the MAiquis. del Palacio. The
confusion and obscurity with winch he explained
kioiself had excited further k!o-,:bte wick reopedt to