The Sun.
London, England, 1811-09-23 00:00:00

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riNANcEsoF El!igLosioL r-
(AIVTICLE TitAirlSLATlcri S#OU A 0104gthliJQ,kl_RNAL.)
The financial IlleaStaeS 01' Whicirtil4'Eagtisti Ivrt: •
Ifistrrs, loocuw,ci the adoplion Patliant6 4.1 01,arttiC
it 4 Se3,ion, are of a character so- bingul-drc: that.
dui cintrot escape genetal attention. We perraeive
It. tilCt~7t~

speation of a paper money, by giving Bank
notes a liir.xacirealatinti &t.)
The.abolttit:n ttf the law which imposed on. the
33ank .the - -to ~recommence tAs payments
in specie.two ye ,rw atter a peace.. This. is -a neoes-
sary Consegnence, of the precedins orasure ; for
11301:...ti0rti,. become repreKeotatkvet signs, are, no,.
lopi,4r,;‘,46centtnie ot conversion into spveievA; hi ilt,(p
bestcltit, impos,it.lo, when tve consichg lbw xivrner....
bus itiitteS u.t netti, tlaitt tale plans int,tapid. title&
CrS'iloll ; „
The devreciation,_of the coin.• ,The,pound ac-,.
tuallysoineo tn: If 3. • instead of, Os. measure.evi-
dently ,a,lopted, jtti order_to place go'id and silver on
a levekwilbAlitt,;exititingyalue of :Bank noes, which
are at a discount of 2 per cent. The export ot
gold and sil,v,c.t is thus hoped to be prvented ; for,
according to the old piopQrtion between gold and
note, 51. in not4.4nay.lo ittuchuse4 for 41. ster-
ling in gold. ,
The solemn declaration, that England; being no
longer, ow priy.otr h.or 'debts, must,coneme her-
self to' feenrittg the payment of the which
is,.in effect, saying to the English—if you town to
receive the 4)lot:sr of the twills lent to Government;
you nillgt accept of paper money (3).
The necessary result of these data is—that the
. Engit:4ll Ministers. have' changed their. system of
finance, and propose that the system of loans shatild
give pl to tho of pap, Money. ,
Au ,nitlitened men liaVZ foreseen that the infal.:
lible and combined hoteni upon which the r .ent b
Gove time.-nt• pursued its attack on English,monop6-
. ly, rntist sooner or I.iteT sap, the system 01 in its
very basis....-ponto credit, have beeho
strikingly accomplished the liicis" which wc`have,,
enutnenited leave no doubt 'ot equal themost
brilliant rictutt-t which 'could hat*. 1 eeu obtained.
The acknowletialbents tore Engiistt Mi..
nisters ihernselysi are, real o;.4ina tor they
ate a Conquest' gamed' civet what the English bold
/no„t dear......theh credit. ; •
111,11 what were the events which convinced Mi.

%inters. that their errtlitnegan to laittiind •that it was
lien.- to arpodoll a lipifem which "no longerhad any
support ? The Mini.ter.4 lira silent ;,Ivv_nd endeavour
to pttnetrate the darkneis is which' tlitsy love to wrap
ditnuelvea.. . .r.

ft is well known .that the: ;English . Government
employed. the house of Goldsinidt, of. Li don, to
neg,teiote its loans in tite,Stoek Exchange,. and wets;
change theta for money. Goldsmyt advabceaip
Govertrtnent considerable Sums' in atuiCeY, and in
bills •at exchange, payable ai the timexwlit n 114 -
n depended o receiving !torn Goveingislit the lundi
which he had, advaDced,"
.1141 whether the ion
provi-d tins )ccesstul, or Government wait under the
absolute necessity of nilterwile ernplo-iing the tondo
de6titied for the vaymentof their b.mkers,GoldHmidt
faded to,reoetive them at the time agreed upon, and
found 'it impossible to pay his bills tit' exchange, and
the bahkets assisted him with their
advances.. Tiiere• was only one resource lett him
Urn was toexpose,the of Gove:nmenr, and
to chmand a delay ; but wt et a scandal, what4nimi..
liatio;., tor.the Ministry ! Goldsrnidt preferred take
lug the shame of the event 'upon Matadi, in order•to
save, if pos,ib'e, the honour of the Government at
the extreme of his personal credit.
• - The .English Ministers,Aaving &leaped, as it were,
it. by a miraele from a danger so imminent, per..eived.
that there would, be too flinch; risk in any -loleger
snaking the:movements of, the, machine of politics
depend upon springs which .were'wmit out by long
friction... A- second etubarraSstnent of the same
bort with that train which tie heroic devotedness
of Goldsmith delivered them might prove fatal, be.
cause the bankers would be More cautious in their
advances, and it was not probable that a .second
Codrus would step in to save.thern.
The matter then was, to replace the borrowing
sYstetti by another. There are only three modes id,
providing for the wants of a Shoe— lat. By a good
organization of the system of .copriltutions and an-
put) ; but this system pursued by Fiance, Would.
hare been • ithattlicient for a Government "whote
pretenstons are 'so greatly beyond :its natural ,re-
sources.; to adopt Chi, system, the safest 01%01, it
would be necessary, for England to' reneturce,,her
usnrpin 2d. By loans ; but they require
credit, and England has just exPeitenced that the
most extensive credit has its limits, 3d. By the
creation of a paper money. By this Wini the only
expedient that remained to the English Govern-
ment, it had no other ehoiec left, and Parliament
adopted this system contrary to its own convictions.
Such has been at all times the financial cartel tit

week Gcyrt roments z they bortow when_ their ex

penses exceed their ordinary income, and they create
t, a paper money when they can no longer' find credit
for their loom For somemonths the English Go-
vernment •oill expertence no great difficulty in
ineeting irs enormous exLenditurc 1 but is' there in.
Eutope„ and even in England, one rational being
Who does not foresee- whew out!) a system must
end I Is it tint evident that the papet-moneydrkfo
opecie Cl circulation ; and that this exclusion,
with the always increasing wants of a Government
be,tit on chimerical entetprizes, mei' indefinitely
negtuent the issues of paperi,Money, linn -thus ac-
celerate US fill ? Have not the Ministers theinselt
announced it, wherry to-this,queition, *6 What will
set bottittis in futtitito the, isortia.tif notes'?" they re-
" Our wants I"
don the otte hand, paper-money may lend an
lipparent strength to Governments, it does nothing
more than at:latent their. embarrassment for the
future,. and they arrive by rapid -strdes at the fourth
financial catastrophe,-.7bankruptcy. The eternal
laws, which secute the preponderance of the real
.iV) Sac L9rd,itlinhaPeti /iill on the circultioyi of gold,
aratthat 01 Hank hates, agreed to on the Bth of (illy by the
Boise t,t Lordir,ann on the 19tel by lite, Lintitticipi, and the
ekh.atca whieti took ptace Pztriiiiiicht (41 that occ,ation, in
eiiili rent :Anal:a; of the Isiorn4l:de ILasilfru:
(3) 1,-4;, tho.Aattmtea in Pelt i.tritcite _when the ,Budget was
totWaSkt. t • •
(4) See the, extiosition of the ,;tuitionof,thr Bank of
Etiy,hoht, itortlat laortial tl4 V,Ltulpire of rlttil 4th or April.

We have at length received a detailed account of
the cause of the heavy Wing last week off Bouloz.ne.
appears that- BoobtATAlive, npc.n his nrriittl at
.Eloulogne, ordered all the reutains of the flotilla' 10
go, out and capture an.,English frigate and two or
three sl-opi that were in the oilivg. This ortiet,,
we presume. was not very agreeable to the Fiend',
Admiral, but it was imperative, and aceortlingly,,he
made an attack upon the listle English squadron
with near thirty ofhis fleet. 'After ,a severe rokau-
inciut the Admiral was Compelled to strike, but the
Naiad . being too busy to take possession .of him,
he made-his escape into Boulogne. The Cerninotiore'rs
vessel was, however, taken, and brought into the
Downs: NA/NAP/CATS (who with Marshal Nay
VMS out In a barge:viewing the sition)-v,i4s to in-
censed when he saw, his fleet, notwithstanding it's
immense superiority, flying for shelter into the Or.
hour, tint be ordered the nrtteries to fire upon
them. The following letters.contain the details-of
this gallant aetion ' ' •

" Dcrsa; Se^•r. 2.--The cause Of the firing
heard on the Frinch poclst on Friday, was an en•
gagement bet waen.eur fleet, consisting of the Naiad

frigate, three sloops of.war,sand t cutter, iii tail live
sail, and the Fiend, flotilla of seven large praams,
each nearly as long as a frigates; 11. gois-bribe, and
other small craft ; in 0 27 sail ! ! ! The uttion,
commenced nearly at noon; our ahips.having &sighed.,
in amongst. them, were soon surrounded, but they
fought like Britons, and soon compelled the FrtMch
Ailtniral to unite. At this time BUOPIIAVARTB,
Who was vieyving the anion, with Marshal Nay,
in a barge at the outside of the harbour, directed a
French Commodore to proceed with his praam to
the assistance of the Admiral. .This was coMpliel
with, and the French vessel 'ran,along.aitle, with
view to hoard. Capt. CARTSOET, leaving the Cuin.
Mullore. would serve him as the Admiral had dont,:
viz. run away, gave orders to lash the two' ships
together, and after a short engagement the praam
struck : she mounted 12Autrig brass
During this eng:igetnent, the French Admiral, and
the rest of his fleet, made towards the harbour of
Boulogne, which AO enraged Iris 7miierl4 'Majesty.
that he ordered the guns of the batteries to be turned
upon the inuincibk flotilla, to drive 'thee) to seti
again, hut it had no efrea, for as the French Com-
modore said, 'Their Master sent them out to fight.
men, hut, they found cOnfident was
tUONAPARTa 'of. stiece4, that he sept wit a pitot-in
the praam that was taken, to convoy the Naiad into
Havre ,de Grace.—Ttie praain hat arrived 'in the
roads.—The'Whole broadside' of the,Fieneti A'dini-
ral's ship was
..beat _Naiad had ,two man
killed, and rib. wounded.slightly '; and it'is said that
the First 'Lieutenant thid two br three men ate
killed on board the Castilian sloop of war.—The
enemy's loss We& immense.”

Doyen, Surf: ce.—Last evening arrived in the
Roads his Majesty's frigate Naiad,-Captoin CAlt.
TIME?, with a Lirge praam of the French flotilla.
We undurstand, that about Friday noon, the Naiad,
liedpole, Castilian, and another brig, (the ii me of
which I ani at present unacquainted with), with the
Pigmy cutter, dashed in amongst the cntipyi's tio: ilia,
laying iminediately under the battei its of 11,4ulogne,
which kept .up a comma log 'at 'our ,strips

liowever, neither this or the immense disparity of
the 'ince opposed to ours (the French squadron
cousisting•of gl,:iiil;•and'the English 6f ditty fitieir
had enwer to daunt or dishearten. our brave tars„
itid in a very short time the Admirers pram
struck its colours ; unfortunately the Naiad, be.ing
closely engaged' with the others, could not take itn-
F
'.rnediate possession, of which the rench Admiral
~
d3l not tad to take advantage, and. retreated as fast
as possible into Boulogne.
prior
-
ihior to this, 1111.0NA141114'haii. sent a •6:ttn.
thodine's maul to assist the,Admital,, and on ,bet.
coming alongside of the Naiad, with the-inteut of
boarding her, Captain CAIITeIfE.T. gave iminediate
orthrs for lashing both the vessels together, wheo
the destrUOion on board of the praam,which carried
35:0 men, was most, dreadful, though the contest;
Was short, is the Ctininiodine-.:Soon stiock .hi s so=,
loull. , 4rceiying the hid of tluuit Admiral and
CoMmodore,. the rest of this to touch boated
Cilia followed, the Adniiral's example, and made,
the best of their way. towagls Boulogne, which
lici eurage.l BIJONAPAItTE, Who, with . Marshal
NRY, were viewing the ''unequai contest, that
gave writers for :thegans ot the batteries to be.fired
upon them, in order to (Wye them again to sea,
but to no . purpose. The dis.tiipc)ititinenf of 1110'
Emperor :must have been indeed gleati
for so sure was he of succesi, that be .erett sent
a,l)itot 4stitii, the Commodore's prasin tor.giet'•the
Naiad, &c. sale conduit into a fret!..:.!)
of which his 'Majesty's frit:laic .111asiad.10a piloted
the praam-, Commodore,: Pilot, and all, -into-Dover
Howls.
I most 'deeply regret to have to state our own
10$4, which eonsisted of two kiltud avid i wattadtd
oo board ttielVaiad; the First Lieutenant of the'
Castilian was 'cut asunder; two Wene ,killed and
some wounded. TO Inovotk.the p#rt.of the enemy
must have been itnmense, as their ships were full
of soldiers. • Ours tA °old, no doubt;sheie been much
greater,' but being so close ,under 'the batierios, •the
shot: passed ovet them.". .1;

. We are happy to state, that an official account has
reached the Adniiraliy 'of a very biiiliant achieve-
ment performed by the Thames frigate
,and, the
4:ephalus slOcip Of war; the; Mediterranean .They
attatkedi under the batteries near Naples,,t 1 'gun.
boa's, .1 alined felucca, and 14 merchant vessels,
arid captored the. %Vhole 26 WO, 'about the loss
ot a m.io !
'4

The following. accnuoi of the circumstances at-
tendi the capture of ki.:4,S.,diacriti, was brought
bi tt,r Bows. P.Acket, which has at rived at-Fahuout h
from Mediterranetto

The French, brig Abci)le was at anchor in a port
of the Maud of Corssu, when discovered by, Captain
pALmlia, (n the Alacrity, Who dispatched 3 boats,
manned and armed, to cut her out ; but iroin soma.
unfoteseen . circumstances this attcnipt and
the beats and crew were taken by the enemy., who
ituntechately took the boat hi •tow,- got under :way,
and heisted Ltiglish colours over the French ; cain
our of purl, and'on coining up to the.4tacrity (who
lay expected sale wits a prize), tan on board of her,
and larded her immediately by boarding-, before any
rilealUres could be taken for i ebistance.” ,

This moriling an An holt mad arrived, from which
we have Made Some exirads.

di ifindsor-Castle, Sept. 24, 1811.
" 34441:53:Y remains in the same State.
" H. HAI-FORD.
" hi. ISAILLLE.
1 " W. El 1:131041,11N.
" It. WILLIS."

" Windsor Castle, Sept.
" Big MAsEsTY. has passed the night *Witboitt
sleep, and is not quite so well tbil morning.".
(Signed as above.)

Yesterday being the anniversary of the Coronation'
of his MsJesTY, the morning Will ushered 111 by the
ringing of bells, The Rugs on the church steeples,
and oilier public buildings, were Ito's* in honour
Of the day, and the vessel* in lhe river, were also de
corated w ith colours. At one o'clock the Park and
Tower guns were Mired.

The bake of Sussex has nearly recovered tram
his indisposition,' hot to gnarcl against a relapse,
which is tested; his Royal Highness medvised 10,
leave. this country, to try a change- of cllniste,
to which his Royal Highness is strongly recom
mended.

The store-ships, laden with gimpowder,
ezc. which sailed from this country to Russia), 'ar..
rived on the 14th of August of Revd, at which
port they were permitted w discharge their cart'
goes.
A wry active and advantagtous commercial- In-
tereoorse has lately taken place between our -East
India Settlements and the Philippine islands.
BIJONAPARTR has ordered the VMS Of the difre-
rent towns of Holland to be changed. Tlrsat of
Rotterdam will, in-future, be three or more honey,
beet, supported by branches of laurel, instead of H
lion, crested by a orcact eagle:
The Portuguese Regency have issued directions,
that the wood-cutters and charcoal-manutacturers,
in the province of Alenteio, WhQ stlPAY.—the:le"tr-
-6:try fuel for the consumptionof•Liibon, be exerrlP"
ed from military LI-vice, and ell other dullest
well as those who are etnplo,yid in its FCtllsreiaPe4l:
by sea or lan&