The Sun.
London, England, 1826-02-07 00:00:00

''plied for the one and two pound notes with.
drawn—provided no gold were to come in and
take their places—and provided the circulation►
of five and ten pound notes were not increased.
But the truth is, that respectable country bankers
have always issued one and two pound notes
with reluctance; neither can We -conceive that
the recall of the whole will diminish the circu.
lation by more than in a fifteenth, or that the
prices need decline more than in that proportion.
%Vie have spoken of the propriety of exacting depo.
sits of security from the country bankers. This
was a plan of Mr. Vansittart's out of which he
was beaten by a combination of country bankers.
A meeting of them was held in London for the
purpose; and it is most remarkable that all, or
nearly all, the, country bankers who attended
that meeting to oppose the requisition of deposits
from them, have since become bankrupts : Sir
William Efford was, we believe, in, the chair. So
that it is pretty certain of what character, as to
solvency, those country bankers may be who
resist the giving of proper 4ecurity.

[THE PUBLIC LEDGER.
It was very generally expected that Ministers
would have been able to announce, on the first
(lay of the SessiOn, the termination of hostilities
between Spain and her late Colonies. As this
commnication would have been as creditable to
our policy as consistent with those pacific prin.,
copies which all -the leading Powers on this side'
of the Atlantic are pledged to support, its omis-
sion .has excited ne Slight degree of surprize, par-
ticularly as no one suspects Ministers of having
treated the subject with unbeCotning levity. On
the contrary; it is generally believed that they
wore extremely anxious to open the Session with
a notice, the most graceful perhaps of all others ;
for, besides putting the finishing hand to o Work
Which has contributed to their popularity more
than any other, it would be a real triumph
of reason over miserable prejudices and un-
tenable claims for Spain • herself. As a pre-
liminary to any plan for the gradual restoration
of order and quiet in the European dominions
of the Spanish Monarch, the termination of this
ruinous contest cannot be too often forced upon
his attention by those Powers, who see in the
weakness and distractions of that country, the
fertile source of present alarm . and future dan-
gers' to the rest of, Europe. The more urgent
these motives are for obtaining from the Cabinet
of Madrid a ,concession so des!rable in , every
point of view, the greater is the astonishment that
our diplo'rnaey cannot yet boast of this triumph;
and the pain of the disappointment is not miti-
gated by the consideration that the claims of so
runny British subjects for property unjustly de.
tained and confiscated by that Cabinet, are still
evaded upon the most frivolous pretexts.—
The pecuniary embarrassments of the Spanish
Monarch, are no excuse for his refusal to
liquidate these demands, unless he can
sinew that they are the effeCts' of circum.,
stances over which be bus no controul, or that
he has no possession he could pledge for tho se.
curity of his creditors. Unless he can chew one
of these two things, his reluctake 'cannot be
itscribed•with any propriety to any thing else but
had faith, and, that reluctfinee should be overcome
in the way that it has alWaye been usual to deal
with frudulent debtors. Ills pecuniary embar-
rassments in the first place are notoriously the
effects of his perverse course of misrule, and' not
of an all-controuling necessity ; and, in the next,
if lie has not money to pay his debts, he has
lands to pawn for their liquidation. Ile has the
Balearic Islands for example; and, if he has
made a temporary cession of Cadiz, Barcelona
and other important places in Spain to the
French for the mere gratification of hisorbitrery
propensities, we cannot see how he could either
honestly or honourably, refuse to give up those
islands, or at least one of them, if the ques-
tion were put to him in favour of those
British subjects whose property he has un-
warrantably seized. Whilst the justice of this
last claim can be urged upon him, his aversion to
meet. the soliCitations of our Cabinet on the sub-
ject of South America appears a :perfect enigma,
;which. it is the more necessarpto clearup, as it
iinplies at present either apathy on the one side,
or a sense.- of arrogant security, originating in
secret encouragement from a third party, on the.
other. Whatever may b The cause, it is clearly,
time that it should cease ; and it will not be
thought that our Government consults its dignity,
us long au it continues to allow the ..Court of
Madrid, French-ridden as it is, to treat its ap-
plications, supported as they are by justice and
sacred policy, with such superclious, neglect. It
therefore strikes ns, that Ministers will soon have'
it in their power to snake some important and gra-
tifying communication to Pediment on this sub-
ject ; and as the speedy arrival of a Spanish Am-
bassador in this' country is confidently spoken
of, we trust that he will•be the bearer of the un-
conditional acknowledgment by his Government
Of the new American States. To tack any con-
ditions to it, would not only take away from the
grace and merit of concession, but render
wholly nugatory ; and let us therefore hope tha
the recognition will be an unqualified one.

PIORNINQ HERALD.] ,
The Solicitor-General, we perceive, Is not
likely to walk over the course for the regresenta.;
Lion of the University of Oxford, as was at first
expected, but is opposed by Mr. Estcourt, the
pre,sent Member, we believe, for Devizes.—
These Gentlemen are both very respectable in
their way, no doubt, and, in the absence of the
only fit person to supply the present vaesech
may be as well qualified to be Members fOr Ox-
ford as the Gentleman who has just so abruptly
resigned his seat. If the University of 'Oxford
only want a Member qualified to secure to them
their exclusive right to print Bibles and Prayer
Books, and such like literary privileges, they
were never better represented than by Mr.
ocher, who probably is better acquainted %i ith
the machinery of literature than any man alive,
and probably either of the present candi-
dates may fin that sort of inglorious repre-
sentation quite 44 well ; but if the seat of learn-
ing and the cradle of tithterunen would wish to
see itself personified in the Senate by the