Star.
London, England, 1825-11-26 00:00:00

FRONTIERS OF ITA I. I",—NovsmsEr. 6.

There is still :s Turkish squadron in the post of Av.
lona, which dare not put to sea, for fear of being at-
tacked by the Greeks. ltedschid Pacha's army is still
in Etolia, and its ret,eat, so often announced by the
Greeks, has nut taken place; but it is weakened by the
desertion of several Albanh.a cerfs, who have returned
to their homes, by diseases, by perpe:ual engagements,
&c. But Redschid declares Isis firm resolution no► to
withdraw his airily from Etolia till Nlissolonghi is taken;
and if the surrender of that place should be delayed, he
will take up his winter quarters in that province.

FROM TAE COURIER FRANCAIS.
PARIS, Nov Elms 23.

We are accused of atiackint., religion, and not a single
case can he quoted from our Paper against its dogmas,
its faith, its ceremonies; and they are obliged to recur
to the old system, and make it out that the Monk, the
Jesuit, and the hi st, or the man, is religion. We are
reproached with principles and jokes that are found in
the religious authors of the reign of Louis XIV. in Mo.
liete, Boileau, and La Fontaine. Our opponents ate
reduceil to confess their arrogant pretension of prevent-
ing us from examining the state of society, and
.the
dangers which threaten our Institutions. -Such a system
cannot triumph. Accusations made with such a want
of faith cannot be received. Justice respects the Charter,
and respects our Institutions; it protects different reli-
gions, different opinions, and legal interests, openly
attacked.

FROM TOR JOURNAL DR& DEBAT&
PARIS, Naming& 23.
In those countries, in which, like England and the
Netherlands, the representative system is in full, there
is no dispute between the Aristocracy and the Demo.
cracy. Little-minded statesmen do not know how to
submit with a good grace to the consequences of the
representative system, and these are the destroyers of
Monarchy, who are pushing us into the abyss of revo•
lution, from whence GOD only knows what will ensue.

Demerara Papers to the 13th ult. give fresh details of
the earthquake which took place in the night of the 20th
of September, but which, though the most severe which
had been known for many years in that Colony, had
occasioned but little damage on the Continent. It was
feared that the islands had suffered more, and that fear
seems to have been realised in the case of Tiii.idad.
The extreme drought in the New World appears to
hay.: been atiended in every part with fatal conse-
quences to forest'. The woods of Demerara, which
had caught fire, continued to burn on the 10th ,
tober with unappeasable fury. T.;e confl.tgr•tion
divided itself into three deep stleams, and the r
tion on the sky at night is decribed as full of
ficencc and sublimity.

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7141 K EV KS I Nl4 `TB It

LONDON.

SATURtAY, NOVEMBER 26. 1825.
STOCK EXCHANGE, TWELVE O'CLOCK.

Consols opened Ws morning at $4ll for the Account, and fur
Ithat:ey 841 1, with little doing. The Market remains in the same
state of uncertainty. Exchequer Bills 3 2 discount.
In the Foreign Market little is doing.
Current Prices' Austrian 92 95, Brazilian Scrip 15 121 disc.
Colombian New 631 1, Danish 611 62, Russian 871 88, Old
Spanish 151 1, Mexican 671 1, Greek 21 22.
PP: ICE OF STOCKS AT TWO O'CLOCK.
3 per Cent. Iced. 83% 3/n 82%
per Cent. Cons. 84% 831/i
4 per Cent. Assented 91% 901/s
4 per Cent. New 10134 1,4 100% .1/4
Long Ann. 20 3-16 1974
India Bonds 4 2 dis.
Excheq. Rill. 4 2 7 dis.
Cons. for Opening 84% 3/4 84 83%
FOREIGN FUNDS. TWO O'CLOCK.
Austrian Ikla 5 p Ct. Mes.Serip.
Brazilian Bonds, Neapolitan Ponds,
thin' Acct. Peruv.Bds, 6 pC. 491 •
Do. Scrip,spC.lol2s, Ditto Aect.
• Ditto Aect. 13 121 In 1 dis. DittoScrip,lB2s, 6 pC.
%mos Ayres Bonds Pot tuguese Bonds
Chillan Bonds, 6 p Ct. 58 Pruss. Ikls. Sp C.
Colombian %le, GpC. 611 Do. Bonds, 1822,
1/11.13ds 1824. 626 62 Huvi5.136,1822.3 p C. 871
ro. Ace. 631 631 621 621 Ditto Acct. 861 1
Danish Rom's, Span. 5 pCt.C. 151 /
1:o. Dina, Ditto for Acc. 16 151
Ditto Ponds, Ditto 510
Greek Bond. 20 Span.s p. Ct. C. 1823,
Disßils,lB2s ei French Rentes,spC.
bitto Acct. 5pC. French Rentes.3p C.
Ties. Bonds Exchange,
Ditto Acct. 61 Guatemala Scrip,
I)itto Bondsl/125,5pCt.671 51 61 Ditto Acct. 6
Ditto Acc. 671 67 166 1 IRusaian Inscript. 6 p Ct.
BRITISH AND FOREIGN SHARES, TWO O'CLOCK.

NIA lit. ram.
Anglo Me can 5 pm. . 100 SO
Brazilian 100 S
Colombian . NO - 5 -

65
7} 7
. 16i 17

English 25 2& 1
Potooi. La Paz, & Perim. 50 5 34 3
Beal del lonte 400 400 480
United Mexican 40 tto
Ditto New 40 10 20
British and Foreign Paper 50 3 21 1
Gold Coast Association 100 5 3*
Mode la Platt Agricul. Can. 100 5 li

The feverish state of the Money Market is at present
the topic which engrosses public attention, to the exclu-
sion of almost every other concern of less moment. It
is stated that the Bank Directors have largely dimi-

nisbed • their discounts, beginning with refusing the
Bankers and•commercidl houses, of the most unques-
tionable credit, to the end that it may be distinctly sten
that their object Nas simply a diminution of the Bank
paper at this moment in circulation, and not the raising
of any alarm in regard to the state of mercantile credit
at large. The effect of this measure will naturally be,
that the Bankers in town Must, for the present, abridge
the accommodation they have been affording their cus-
tomers, especially the country banktrs; and these again
being thrown on their own rescurces, curtail the credits
they have hitherto afforded, and call in their outstand-
ing debts. Thus the shock extends simultaneously
over the *hole country, and though severely felt,
it is, nevertheless, an indispensable and whole.

some measure, without which every corner of
I'm \Realm would speedily brie been inundated
with %',accommodation paper, the tendency of which
is constantly to inerease,. aninie vigorously checked
the Bank: -The WO price of Stock last year
jirstifiecr the' Mile-a riclietiner Bills at very low
interest. By the* elminke of circumstances, however, and
the sudden investment of capital, to an unprecedented
extent, in trade and domestic improvement, these Ex-
chequer Bills have fallen to a discount. They must,
therefore of necessity be replaced by other securities
f the same kind, bearing a higher rate of interest;
and, in the meantime, a heavy demand for the
payment of a large proportion of them at the next
quarter day, is to be foreseen. If the Bank were to
provide f, r that demand only by an issue of additional
paper, without retrenching any part of that which is now
in circulation, tl-e consequence would immediately be
felt in the fall of the value of gold, which would there-
fore disappear, and be expOrted to other couitries.
Hence it was necessary to prepare in time by a gra.
dual diminution, and there was no time so fit as the
present moment, because Ci nsols will be shut within
these few days;—and the Bankers and Merchants, both
in town and count' y, • who may hive bills to provide
for in the interim before the 6th of Januaty, will be
just now enabled to tai,e money by the 541 e or on the
security of Consols, which they could not go without
great diStress• bad the lessening of the Bank Discounts
taken place while Consols were shut, and when no transfer
could have been made. This explains in some dCgree
the great deptession which has taken place in Consols.
The circumstance growing out of these very simple
considerations, has however been made a theme of het
w.arfare, bkween two Morning Papers. The Times

alleles that the Governor and Deputy Governor of the
bank had repaired to DOwning•street, almost as soppli-
•c;ints; and •" in a bondman's key," had requested
the CIiANCELLOR4 the Ecnitineit to have mercy cn
their exhausted coffers ; while the Minister read them a
severe lecture on their mismanaAement and refusal to
listen to their.Jcien. tinder. We bed leave just to hint to
ur worthy cotemporary, that the. Governor and Deputy
Governor of the Bank;• in their official capacities, ,have
sot, any time these twenty years, been remarkable,f4
euch humility as he may suppose. And that; oit'the
contrary„bowninrstreet has generally been constrained
to veil its Patiiciaa bonnet. and speak fair and Wily
to the dame of Threadneedle street, and very often • a',
the humblest.of her suitors; but seldom, if ever,hei the
Lea pryear arrived, in which the coatraSY tivada.of won-
inglad prevailed.,
• . •
. . , .
Let the :O nus be assured, that the Des.k never hed
Ites reason than at present, to accuse itself of misma

nagement, when, rati.ough unjustly, it is, on the con•
trary, loudly taxed with halting occasioned the existing
distress by over-scrupulousness.
The Neu Times, however, is absolutely out of temper
at the insinuation, and in rather naughty language at.
tacks its adversary without mercy. But violence in
debate is seldom the mark of a good calls... Thus it
rests its defence of the stab lity of our financial
resources, on that which of all others we confess
is its weakest foundation—the means provided for
the redemption of our national debt. Has our in-
telligent contemporary forgotten that the Whig.,
and the other profound calculators of the Oppo-
sition, have for years endeavoured to make the idea
of a Sinking Fund a term of reproach—that its very
existence is by them counted as a monument of folly ?
Have they not preached from this text invariably ;
That in time of war the redemption of debt is
impracticable, and in time of peace intolerable ?—and
have not Ministers been driven by their clamour, to
limit our Sinking Fund to a )early income of only One
per Cent. on the capital, which, to all practical purposes,
is no redemption at all? We should havethought that the
only part of cur financial system which will least admit
of panegyric is the state of our national debt; and to
this subject it is our intention, at an early opportunity,
to call the most serious attention..of our Readers, re-
minding them merely that in the last six years of pro-
found peace, with an establishn ent pared down to the
lowest point of economy, we may say penury, there
has not been as much debt redeemed as would pay off
the sums borrowed in the single year which concluded
the war.

The Frankfort and the Brussels Papers, the former to
the 20th, and the latter to the 24th inst. contain va-
rious details of the retrenchments making by the new
King of BAVARIA. The Chiefs of several departments
have been called on to state what reductions can be,
made in their several branches; and the KING has set
the example himself, by retrenching those branches of
exl•enditure which are connected with the Royal House-
hold and the amusements of the Court. Thus he has
parted with two hundred of his horses, and given up
the expensive establishMents of performers for Operas,
Ballets, and Concerts. By a rescript issued on the 13th
inst. the KING has dissolved the existing Committee of
Legislation, and formed instead of it another on a more
extensive plan. Baron ZEGTNER, Minister of Justice, is
President of the New Committee.

The Nuretnburg Correspondent of the 18th instant,
which we received this forenoon, contains some accounts

from Greece. For the lay month or two all the intel-
ligence received from the seat of war that could be
reliecton, is confined to the two facts, that Missolonghi
still holds out against RSHSCHID PACHA, and that
IBRAHIM PACHA is still in the Morn unsubdued..
The Nuremburg Paper states, that the Turco-Egyptian
fleet had left Alexandria. A letter from the latter
place of the 18th ultimo, states that it left the port
on the preceding day, and states, that it consists of
" fourteen frigates, fourteen corvettes, forty-two brigs,
ten fireships; twenty armed Turkish transports, and
Rventreight European transports, with the • London
Engineer steam-vessel (another built here sprung a-
leak in sailing out of the harbour). Four whole regi-
ments, or 8,000 soldiers of disciplined infantry, and
about 1,000 Turkish cavalry, are embarked on board
these vessels. Tie expense of the whole expedition, in
larrears of pay to the Turkish fleet, provisions,-and re-
pairs, supplies of money and provisions to the Morn,
and presents (the Capitan Pacha receives 1,C0,000
piastres) will, it is estimated, cost the Pacha 60,000,000
piastres, or the value of 100,000 bales of cotton."
It was reported some time ago that the London En-
gineer steam-packet had secretly sailed for India, in
order to obtain the bounty offered by the merchants to
the first steam ship that should reach the Ganges. It
will however be seen, by the above report, that this
ship is employed in a less laudable purpose. The fol.
loss ing extracts are From the Nuremburg Paper :