The Sun.
London, England, 1826-02-11 00:00:00

DAILY

Extract':
_from the 31urning Papers, Feb. 1 1, 16'26.
[montiiNG
An article in the Constitutionael of Wearies-
day has for object to create a belief that war
between Russia and the Prirte is almost inevit-
able. After alluding to the losses sustained by
keepint an army inactive on the Truth,
are heavier in one year than those of a war in
Turkey would be in two', and to the well-known
inclinations of the Russian army, " whiCh looks
towards Constantinople, in invoking the name of
the Grand Duke," the writer of the article goes
on to bay, 44 I t is of the nature of all torrents to
overthrow the • dikes opposed to their course ;
Nicholas is quite aware of this, and already the
question ilitioltpd at St. Petersburgh is the occu-
patio!' of Moldavia and Wallachia by the Rus-
sian troops. England and Austria will spare
neither seductions nor menaces to prevent this
occupati7m ; inft can Nicholas delay it without
danger ? The moment for acting is come ; for
four years the Porte promised to evacuate the
two Principalities, all the while sporting with
promises and the credulity of Russia. Turkey
merely changed the 'garrisons of Bucharest and
Jassy, and to make the troops of one principality
pass into another. 'f leis juggliniz can'deceive no
_one.; the Russian army demands satisfaction ; to
refuse satisfying it on this point might be hazard-
ous ; to yield to its wish would be to declare
war." We suspect, if the inclination exists, the
State of credit in England at this time will more
than counteract the eirect of the Duke of Wel-
lington's threats. The Russians will be apt to
say to themselves—if we mesa to have TurkeYs
now is the time, or never,—we may not Always
have England in such a safe position.

NITE PUBLIC r.EDGER.I
It was reported yesterday in the City, that
very alarm intelligence intlligence had been received
from Russia ;
but „,„ could not trace this rumour
to any source entitled to implicit credit. it was
stated that another revolt had broken nut In the
Capital, and that the army in Ressaralyin was in
a complete state of insubordination. It must be
allowed, whatever may be the fate of these ru.
moors, that the state of' that Empire is alarming
in the extreme,and merits the profound attention
of the statesmen of other countries. The army
.wants war ; the soldiers, on account of the licence
it would afford them, and the officers in the
hope of rapid advancement. At the same time it
cannot he denied, that revolutionary feelings have
crulde some progress it) its ranks, though perhaps.
not to the extent that snMe acrouuts state. The
troops who have visited France, are. probably in
retied with a love of violent change.; and therefore
the Government will, we fear, be put to the hard
necessity of giving these rumours vent abroad, in
order to divert them from itself, i t is plain, if there
he any truth in. what is generally stated, that the'
Russian Cabinet has only the alternative of a
civil, or foreign war ; and therefore it requires
very little penetration to ascertaitt the part it
will at last embrace. The dilemma in which
it is placed is truly embarrassing ; for though
pacific from principle, it must engage in hostilities
' from necessity ; and other Powers will thus he

rommi, PRESS.i
Lest night we received - the Paris Papers of
Wednesday. The pressure of commercial dis-
tress increases daily on the Continent, and the;
most eminent mercantile and banking houses,
are sinking beneath it. The great establishment
of Benecke, brothers, of Berlin, has suspended
payment. The shock thus given to public confi-
dence will be severely felt in every ramifica-;
lion of credit throughout Germany. There is
no longer any doubt es to the very favourable •
aWect of Greek stairs. All the recently-reported
successes of the Patriots are confirmed by later
intellikence. The Chieftains - have banished
discord from their Councils, and the soldiery are
submitting to a regular system of military disci-
Wine. The two
;Plenipotentiaries, it is stated.
have bean sent from Constantinople only to ap-
pease the dissensions hmong the Turkish Com-
menders. Thk we. think is highly probable. Mis-
solonghi however is certainly saved, Tripolizza,
has-been re-captured, and the troops of Ibrahim
Podia defeated near Salona. Greece therefore
must he free. `fhe • Austrian Government has
ordered a further direction of 6,000 men from the
army of occupation in the kingdom of Naples.
They will be marched into the Milanese territory
for the pre eat.

•
[NEW
Of the luminous, and convincing speech of the
Right 'lmmutable the Chancellor of the Exche-
quer, we have only time to give a brief, and a
very brief, summary. It breathes as all the pro-
ductions of the, Right liouourable Gentleman do,
that plain, unvarnished, straight forward spirit,
which equally disdainful of frippery and tnyiti.
cism, is pre-eminently calculated to carry con-
viction to every impartial mind. From the state-
ments made in it, we learn,
.that the whole num-
ber of one pound notes at present in circula-
tion does not probably exceed 4,000,060. To
withdraw these, and to substitute a gold cur-
rency to nn equal amount, is the object of the
Resolution proposed by the Right lionomable
however, proposed to
cGatritrtytleimhaisn.m
eiatsuries. into immediate execution,
'which might be attended with considerable in.
COOVellienCe, and some danger, The one
pound notes will be called in, not by any net or
order,of Government, but by the ordinary pro-
coo, of gradual absorption, by which at present
their circulation is limited to three years. After
the sth of the present month, no stamps. can be
obtained ; and therefore,from the same date, no
addition to the One pound notes already in ex-
isten`ce can be made. On the 5111 of February,
their circulation will terminate wholly,
hut ere that date there will be very ,few blithe
hands 'of, the cOmmunity. Thus gold will he
gradually substituted for paper; a here alone the'
substitution is desirable, and where the want of
it, during the present distress, has been most se.
Ve'rely felt. The merchant will still enjoy all the
Pcility-arising out of the beautiful invention of
hills, and the poor man will have the solid
security of his sovereign instead of the paper
of a speculating, or it tiny be of a frau—
dulent banker. The present Ministry, joined
to t) large a portion of sound disairniqat-
talent as ever fell to the share of any former
one, possess more of the 4.lel"nts"9l stability
and permanence than any of their predecessors
whom we can at present call to mind, They are
thus enabled not only to.concoct their measures
si
fyorsetliyie,irlfnt they
urniinlentc,an aiffflr:sls lei n
profoundly skilled
d
in the science of Qoyernment, the,/ might
,have
propounded a plan that was inefficient, or had
they. held their honours. by a trailer tenure, 'they
might have injured the best plan by hurrying it
prernaturely into execution. There is a moral
consequence if) these measures which 11.8 deeply
interesting to every feeling mind, which we
enonot help alluding; we mean the gradual (Erni-
nuition, if not extinction, of forgery. That crime
has been fostered by the small notes, and we
confidently hope, as they 'have, grown; so they
will perish, together,

LWRift- NING ?On.)
FrVich rapers to the lOth instant, reached us
last night by Express. Though they bring noth-
ing official frinti Russia, yet they contain intel;

[THE TIMCS.)
We have inserted that portion of our city ar.
ticie which relates to the mining toncerns as it
came. We• spoke of their failure. Our so
speaking, even if we are in error, cannot occa-
sion the fact. The proprietors will be'enriched,
if the mines produce metal in abundance, in wite
of all we say. We can do no harm, therefohy,
e%cept in a case where a proprietor wishes to sell
his shares ; and really lie had better not part
with that which he has obtsitied so recently, Awf
which is sure to turn out a lucrativekspeculatiou.
The dissatisfaction of the money-men now seems
to fix on the recal of the "one and two-pound
country note!. They should recollect that the
permission to circulate this trash in the country
was an afterthought—an exception to the gene-
ral rule, which ordained the suppression of 11.
and 21, notes throughout the kingdom, and the
general resultption of cash payments. For our
own parts, so convinced are we of the utilitrof
culling in the country notes of 11. and 21., that we
6bould be content with this single measurer; The
Peaple of England would need nothing more
and , we doubt much whether all the debate
which is going on_ nt the moment we are writing
these remarks will have any other result than to
clog and fetter the revel of the small notes,' by
plans for thrusting more paper of different deno-
minations into circulation. Our, City Article
tells us a story of a mutt--u Yorkshireman too,
we presume,—,who has come all the way from
Leeds to London, in order to get cash to pay his
workmen. Why slid he not take a 51., 101, or
201. country note, its the case required, to the
bank that uttered it, and demand sovereigns

[MORNING lik:RALo.]
The Chancellor of the Exchequer last night
brought forward his promised motion, on the
subject of country bankers? small, or one and two
pound' notes, and concluded with moving a reso-
lution fur the di.continuance of all such notes
under 51., after three years, or subsequently to
Feb. ]829. rte.- prefaced his mutton with a
speech of cousiderable length, in the course of
which he reminded the House that the Commit.
tees of 1819 impressed on Parliament the neces-
sity of withdrawing such notes from circula-
tion ; that Mr. Peel's Bill provided for their dis-
continuaoce after- the resqmption of cash pay-
ments in 1823 ; hut (as he now and always had
regretted) the (uifilment of such portion of the
11111 was, by an Act of 189.2, postponed till 1/133.
He contended that those small notes were of a
mischievous character and tendency in many re-
sperts,,but in no way more thin, in placing in the
hands of those who, on well-founded or ill-
founded rumours, were likely to became alarmed,
tilt: power to make runs upon' bankers, and thus
4o create, if not panics, the most serious incon-
venience.. lie denied that the withdrawing of
these notes would occasion those difficfilties
which some imagined ; and non-payment of rents,
according to one Member ; but even if such were
to be the case, those erils must be met at some
period, except the issues of small notes were
never to tease. lie calculated that there had
been out one and two pound country- notes to
the extent of 6,000,0001. but, that the amount
did not now exceed 4,000,0001. The Bristol
affair of last summery and the consequent ex-
posure of demands of gold, having ochtsion-
ed drawings in and cautious issues. There
would then be, in the course of three 'WIN
a " vacuum" of four millions of gold to' be
supplied ; and the Bank having, since MC.
issued ifi millions and a quarter of sovereigns (17
millions of which he considered to be still imam.
diately available to the circulation of the coun-
try,) he could not think that the additional
supply of four millions of gold, to take the place
of the paper to be withdrawn in three years',
presented difficulties that might not be sur-
mounted, and that were not infinitely pre-
ferable to retaining in circulation the mix,.
chievous small notes, the holders of which
might produce such effects ai those to which
he had adverted, lie therefore confidently re-
commended the plan. An extended discussion
tatc"pilsalcieeti
tMher.laßwar,ittags ti
it ntioewm isiteotiodl,h e t
orqbeen scoot::
tinned for another year. Mr. 'Moberly., jun. at-t
tribute(' the mischief complained of to wild ape-
coatiow and over trading. The debate, on
motion of Mr. Canning, was eventually adjourned
to Monday.