The Sun.
London, England, 1826-02-03 00:00:00

FRIDAY EVENING, FEBRUARY 3, 1826.

TII F.; LONDON JOURNALS.
DA 11X
Extract:pipit/le Morning Papers, Feb. 3, Ino.
[TUE TIMES.]
The Speech of the Lords Commissioners, in
the King's name, on the DOetthsg of the Session
of Parliament yesterday, throws as little fight
into the views of Government on the state of the
country, and is therefore as little interesting, as
could well be imagined, Jn these respects the
document is faultless and uuexceptionable. It
begins and closes with the embarrassments of
commercial life; some of which, it is said, are
beyond the reach of legislative provision ; others
are remediable, or admit of correction, by placing
on a more firm foundation the currency and cir-
culating credit of the e9untry. There is, really
nothing else in the Sp ii` 'deserting at notice
and it is rather remarkableithat we Should be sent
for information on a subject of more lasting
portance than all others—namely, the views of
Government respecting the Corn Laws—to the
speeches of Ministers, rather than to the Royal
written conununicationProm the speech of Lord
Liverpool, indeed, in the House of Lords, we
learn that no change is intended on this head
during the present Session. The views of Mi-
nisters on the commercial perplexities, and the
evils of the paper circulation, will be best learned
from the perusal of their speeches, which merit
attention. They join in 'the full reprobation of
that bill, by which COuntry Benkers were allow-
ed to issue small notes, from the issue of which
the Bank of England abstained. They deal out
no very nattering comments on country banks
themselves, as at present constituted, and promise
a rernedy,—a remedy, indeed, which can hardly
be worse than the disease, but cannot, we fear,
cure it. Upon all these topics we shall make
our remarks to-morrow, when the particulars are
more fully before the country.

Inn ITISII rauss.]
We never remember a ii.eriod when the Speech
from the Throne at the opening of the Session
was looked for with greater solicitude. The con-
vulsion which has so recently shaken the com-
mercial world, and the shock of which has not
yet subsided, will easily account for this anxiety.
" Some of the causes to which this evil must be
attributed lie," it is justly observed, " beyond
the reach of Parliamentary interposition, nor can
security against the recurrence of them be found
unless in the experience of the sufferings which
they have occasioned." It was to be expected
that the attention of Parliament would be drawn
to the subject of the pslier currency. We may
therefore conclude tiettilnong the earliest mea-
sure Ur the peAs 2-t Lat.. I,3ltaii,*l trlAr irstrc- ct.w a wit vri
give the public some effective security against the
failure of country banks, by restraining their
issues of paper to the funds which guarantee the
solvency of the firm. The Speech gives us the
gratifying assurance that Great Britain has every
prospect before it of a lasting tranquillity.—
This will of itself afford the most efficient
means of restoring trade and confidence to a
sound condition. There perhaps never was a pe-
riod in the history of the world in which it was
more essential to all the States of Europe to preserve
that mutual good understanding by which alone
they can renew their strength and restore their
prosperity. The Speech very judiciously abstaius
from nil allusion to the distress of the silk trade.
It leaves the cause of this distress open to that
discussion in Parliament which it must necessa-
rily undergo. If the introduction of foreign-
wrought silks shall, upon due investigation, ap-
pear to be ruinous to the British manufacturer,
there is nothing in the disposition of Ministers
that will induce them to persist in it. if it shall
be found expedient, on principles of sound com-
mercial policy, to delay the admission of foreign
silks into our market, there can be no reason to
doubt but that the operation of the law which
permits their introduction in July will be post-
polled until at least the benefits to arise from
opening this branch of commerce shall be mutter
of mutual participation.

[M LW TIMES.]
The King's Speech, which was yesterday de-
livered by the Lords Commissioners, correspond-
ed entirely with the expectations which we ex-
pressed in our lust. It touched, as we antici-
pated, on topics of a financial,
military, and di-
plomatic nature. In respect to finance, it gave
the authoritative assurance that tl:e produce of
the Revenue in the last year had fully justified
the expectations entertained at its commence-
ment. Military operations are fortunately rare in
the present day, Tut those in India have given
occasion to displays of extraordinary skill and
intrepidity, both by our officers and men ; their
valour has been uniformly successful, and we
may, therefore, confidently hope that, ere long,
we shall effect an honourable and satisfactory
pacification. The most intirTreting parts of
the Speech, however, were undoubtedly those
relating to diplomatic transactions. in these
our Government has evinced a degree of
liberality, and an enlightened foresight which
cannot but attract the veneration of cotemporary
nations and of future ages. We
example induced F us rance to join have by our
in a Conven-
tion for improved freedom of Navigation and
Commerce. We have concluded similar treaties
with the 'louse Towns, and vvo have counected
ourselves in bonds of amity with the 'rising state
of Colombia. Add to these the Treaty n ego-
elated, under our auspices, between Portugal and
Brazil; and It will be confessed that " the
Treaty-making power," as Mr. Clay calls it,

has been nobly exercised by his Majesty's Go-
verntnent, since the last assembling of Par-
Htment. The Speech touches lightly on
some of the causes of the commercial etn.
barrassmenta. In the course of the debate
which took place, it was charged as an omis-
sion, that the Speech took no notice of the Cern
Laws; but Lord Liverpool and Mr. Canning
both took occasion to state, that under the pres-
sure of present circumstances, his Majesty's Mi-
nisters did not think it advisable to agitate so
delicate and important a question. upon the
whole, not only was the Speech as cheering and
satisfactory us we predicted it would be, but
the result of the debate was most gratifying.—
No one point was urged against Ministers which
they did not promptly repel, and their own views
(among which the regulation of count
stands foremost; appwartt.' to meet with very
general approbation.

[TUE PUBLIC LEDGER.I
The Parliamentary Session commenced yes.
terday, with a Speech, as usual, but which was
delivered by Commission in the absence of his
Majesty. Amongst the topics of general inte-
rest that are selected, the precedency is given,
with great propriety, to the present alarming
state of public credit. It begins with an expresr
lion of regret at the existence of this severe and
unforeseen calamity, and, after stating what are
not the causes, it leaves to the wisdom of the
two Houses to find them out. It says, for exam.
pie, that it has no connection whatever with the
political circumstances of the Country, or with
any thing else that could fix the responsibility
upon Ministers. It then mentions that some of
the causes (which are left to the wisdom of Par-
liament to divine, as they are not specified) are
placed beyond the reach of direct Parliamentary
interference, which means, we believe, that it is
not intended to eall upon Parliament for relief,
though several examples might be pointed out
where it did Interfere in similar cases, with the
most marked success. However, a measure may
ho extremely vicious in theory, though good in
practice and as this is the age of theory, the
old custom, so incompatible with the doctrines
of political economy, of issuing Exchequer Bills,
on the security of actual property, will not be
resorted to, itt order to meet the existing
embarrassments. Our State Physicians think,
quite correctly too, that it is-better to kill, se.
cunduni urtem, than to relieve the patient by
means of such a nostrum as we have just men-
tioned. In the mean time, it must be allowed
that the trade of the country is in a most sickly
state—an admission which the framers of the
Speech also make ; but as they decline all
el:Lab-Ix-Aid. _they, leave the cure to Providence'.
'They must have ceititibiy torgosxmwharJevityr,
said to the 'Waggoner, who implored his aid to
extricate his waggon, which bad sunk in the
slough; and perhaps if Ministers were to put
their shoulders, or those of Parliament, to the
wheel of trade, which is now stuck fast in the
mud, they would sooner get it out, than in the
way they seam disposed to pursue.

EMORYING POST.]
If we may judge from the correspondence be,
tereen Mr. Addington and Mr. Clay (inserted in
our Paper of yesterday) the Americans never
seriously wished to abolish the odious traffic in
Slaves. Our treaty with them was to establish
the right of search between the two nations, ex•
tending on one side to the Coast of Africa and
the West Indies, and on the other to United
States. This clause, upon being submitted to the
Senate by the former President, was returned to
him, with the 4g United States', erased. Mr.
Secretary Canniug,upon receiving it in this state,
sent it back for the consideration of the American
Government; and the correspondence affords no
ground of hope that the cause of humanity can in
this instance be successfully pleaded before the
tribunal of. the United States. This much re.
gretted event presents rather a curious political
anomaly of a Republican Nation, calling itself
free, alone opposing the Abolition of Slavery ;
but facts compel us to say that the Americans,
since their separation from England, have steadily'
kept in view what they conceived would conduce
to the benefit of their country, without troubling
themselves much with the theories or the politics
of others ; and in this kind of conduct they have
of course found their account,

ETLIR REPRILSENTATIYE.
The present state of banking and commercial
derangement, is naturally the prominent sub-
ject of his Majesty's Speech. We are inch gm.
titled to learn, that the question has already had
the matured consideration of his Majesty's Mi-
nisters, and that they are prepared to sub-
mit legislative enacttnents to Parliament, to
we know nothing
provide a remedy for the evil, as far us the act
of the Legislature is necessary. This is the
right way to proceed, for
more likely to unhinge the public confidence
than to open the question of our currency
again to the speculations of Committees,of both
Houses of Parliament. We believe that no ma»
teriai interference will be made with the laws
under which Country ilankers now act ; but that
any number of persons may hereafter associate tq
form banking establishments within fixty miles of
afford Loud a saferon'an foundationdth
lseenfor
:Pe the
tili will gradually
currency of the
country. We believe it is not yet fully decided
whether the establishment to be formed with an
unlimited number of partners will be re.
stricted to the issue of notes of the value of
five pounds; or a less sum but at whatever