The Sun.
London, England, 1828-07-18 00:00:00

SMYB NA, MAY 24.
The convention of 6th July was intended to prevent a
war between Russia and Turkey : the Russians declared
war; it aimed at preventing the Greeks from falling un-
der the supremacy of any power. Capo d'letrii, a Rus-
sian Minister, was placed at the head of the State. The
destruction of two fleets at Navarin was of advantage only
to the Greeks, or rather to the Russian marine. Mol-
davia and Wallachia, already half subject to Russia, by the
treaty of Ackerman, will become wholly so by the right
of conquest. Two important districts of Persia have also
become rt uso a n provinces. Thus fruit falls from all sides
into the lap of Russia, which is precisely what the treaty
was designed to prevent. Such are the results when the
fine-spun web of calculation is substituted for solid prin-
ciples and a straight-forward mode of acting. France and
England are most deeply interested that Russia should not
penetrate into the heart of the Ottoman empire ; but the
refusal of the Porte to accept the mediation, hinders these
States from attending to their own interests ; nay, compels
them to support against their will the adverse interest of
Russia. While the Porte is thus preparing dangers for
these two States, it seems to deceive itself with respect to
its own danger. Let us look at this a little more
closely. In former wars the Porte commanded the
Black Sea, its marine far superior to the Russian,
not only protected its own coasts, but threatened those of
the enemy. Now the parts are changed, and the supe-
riority of its fleet gives Russia the inestimable advantage
of easy communication by sea. With respect to the phy-
sical and moral force of the Turkish army, the Poi to must
not conceal from itself that it is at this moment at the cri-
tical point which occurs in every revolution. The an-
cient interests are overthrown, and the new ones not con-
solidated. It is the moment of weakness after a violent
fever. If the Russian fleet combines, its operations with
those of the army, it will take possession of Varna and
Burgos, supply the army with provisions, and thus relieve
it from the embarrassing necessity of bringing its supplies
with it. Thus the army may have behind it the fortresses en
the Denube ; nay, even the celebrated position of Schumla,
and penetrate rapidly, almost without obstacle, into
the interior of the country. The passes of the Balkan may
soon be taken if the Russians, relieved from the attendance
of provision-waggons, can take at Varna the small quantity
required for two days' march, in the certainty that they
will meet with a fresh supply on the other side of the
Balkan. What danger would the Porte be in if the Russian
army was posted in this manner at the distance of only forty
leaguei from the capital, on the main road leading to it,
with its left wing supported by Burgos, from which it
would draw its positions, and its right by Adrianople—
the second capital of the empire—one of the most fertile
provinces; while, on the other side, the peace with Persia
opens a new way into the heart of the empire, so that the pro-
vinces of Asia are equally threatened with those of Europe.
Russia proceeds according to a two-fold object. It announces
that its honour is attached to the treaty of London, and thus it
calls on the honour of its Allies, which is interested in the
same question. It advances to avenge personal injuries,
and advances as rapidly as possible, in order to anticipate,
by its movements, all reflections upon them. It declares
to its Allies, " Either the three Powers act in common, or
Russia acts alone, but with the approbation of the other
two; or, lastly, it acts without their support and assent,
left entirely to its own means; but then it is led to con-
sult only its own interest in the mode of execution." If the
Porte accepts the mediation with respect to Greece, France
and England are free to act, Austria joins them, and all the
dangers that threatened the Porte vanish.

Accounts are said to have been received at
Utrecht from Curacoa of the 3d Jude, respect-
ing commotions in Colombia, but they deserve
little credit.

The Swabian Mercury of the 10th inst.,
contains a rather interesting account of the pro-
gress of commercial enterprise among the Jews
in Bucharia, who have extended the sphere of
their manufacturing industry, by sending a suc-
cessful sample of it to the great fair at Leipsic :
LEITSIC, JUNE 30.
After having seen for some years past merchants from
Tiflis, Persia, and Armenia, among the visitors to our fair,
we have had for the first time two traders from Bucharia
with shawls, which are there manufactured of the finest
wool of the goats of Tiber and Cachmere, by the Jewish
families, who form a third part of the population. In
Bucharia j(formerly the capital of Sogdiana), the Jews
have been very numerous ever since the Babylonian cap-
tivity, and are there as remarkable for their industry as
manufacturers, as they are in England for their money
transactions. It was not till last year that the Russian
Government succeeded in extending its diplomatic mis-
sions far into Bucharia. The above traders exchange their
shawls for coarse and fine woollen cloths of such colours I
as are most esteemed in the East.

SWITZERLAND, JULY 5.
Since the Ist July the Journals published in the Canton
de Vaud are not subject to a Censorship, as the Council of
State has not asked for a renewal of the extraordinary mea-
sures to restrict the press, and the great Council has de-
clared that the Canton of Vaud will neither give its , assent
to the renewal of the resolution of the Diet of the year
1823, nor any longer conform to it.

In our Paper of Saturday last we shortly ad-
verted, and with approbation, to the financial
statement of the CHANCELLOR of the Exc lIE-
QUER. It is pleasing to see the reign of delu-
sion coming to a close, and the principles of
reason beginning at last to triumph in the ma-
nagement of our finances. That a Sinking
Fund is nothing more than a surplus of revenue
above expenditure, is one of the plainest axioms

that can be conceived ; and that we should have
so long run counter to it, and have continued

to borrow money in order to pay debt, is cer•
;ainly surprising, and marks in our public ma•

nagement a strange tardiness to adopt the most
simple improvements. But, besides this ob-
vious error, there has been in our whole finan-
cial system a singular perplexity and collision
of opposite principles. We have been con-
tinually running into contradictions ; doing and
undoing, building
down with the oth'p
eir. wiitl,ihuosn,e
during
anngtdhrlg
Mar-
quis of LoticioNDEßßY's Administration, the
policy of establishing a Sinking Fund was con-
tinually insisted on as the great security of the
Stockholder and of the country ; and it was
voted that we shouldhtahveereadelFnputToin
ofof
debt.Fiv e
Millions par annum, for
Now, just at this very time the scheme was
v to
be, intothe
set on foot of converting the naval and military
pensions, which were
payment,
which was CoIl
lies
one great annual
same for forty-five years. Those annuities on
the lives of military and naval officers were con.
tinually falling in—we were every year paying
less on this account. -We were paying more at
present to pay less hereafter. Now this is pre-
cisely the principle of a Sinking Fund; and these
annuities were therefore, a real Sinking Fund ;
they imposed a greater present burden, but gave