Star.
London, England, 1823-11-17 00:00:00

PRICE OF STOCKS AT ONE O'CLOCK.

3 per Cent. Reduced 82% s/8

3 per Cent.Cons.B3 L 4 3/BL4per Cents. Old 99% V
4 per Cents. New 103% 7
Bank Lg. Ans. 20 15.16 21—India Bonds 78s. 7305.
South Sea Stock 94%
Exchequer Bills (EI,000) 455. 471.
Consols for Acct. 831 %.

In a great commercial country like England, we now
and then hear of mercantile transactions somewhat out
of the ordinary way; but we believe no merchant,
hanker, or broker ever dreamed of doing business in the
way proposed by the new Government of Spain—that
of just fixing what debts it chooses or does not choose
to pay. In England, if a preference is given to a creditor
it is considered as a fraud, and is punished with the ut-
, most severity ; and Governments cannot claim exemp-
tions from those principles of honesty which are required
from individuals. If Spain is really bankrupt, let her
declare so, and give up what effects the possesses to her
creditors; for as Roam L'Esmixoz, in the commence-
ment of one of his dedications, observes, " he that is in
debt, and pays as far as lie is able, is an honest man."
In the case of Spain it is, attempted t• draw a dis-

tinction between the several loans made to the different
Governments. Nothing can be more unjust and pre-
posterous than this. The money was all lent to a Go-
vernment de facto, of which the KING was at the head,
with the exception of the loan contracted for by M.
which was made to a Regency at that
time disavowed by the KING, and acting in rebellion to
his authority. If, therefore, the King of SPAIN could,
with any degree of justice, annul any loan, it must be
that of M. 6 WEBIIARD. But it is said, that the KING
was under the restraint of the Constitutionalists at
the time the former loans were contracted. We
should like to have this restraint defined. The Km,
in his proclamations from Cadiz, declared more than
once that he was free; he stated the same in his
letter to the Duc n'Anocuma►te, and intimated that
the only thraldom would be if he entrusted himself in
the camp of his enemies ; and now that he did so en-
trust himself, and was escorted by them to Seville,
where he is still guarded by Swiss troops in the service
of France, are we to infer that he is more at liberty
than when he was surrounded by his own subjects,
whose loyalty and tenderness towards him have been
too evident to be disputed?

himself into the hands of a foreigner who had invaded
his kingdom, and at a time when he was exercising all
the authority of his station, in which are the following
promi:es.

" I freely and spontaneously promise, and have re.
solved to observe a general, complete, and Absolute ob.
livion of all the past without any exception.

"In the same form I promise, that whatever changes
may be made, the debts and obligations contracted for
the nation and for my Government, under the present
system, shall he recognized, as I hereby recognize them."
So much then for any arguments against the vali-
dity of the Loans founded on the declarations of the
KING, or his situation at the time they were contracted.
How far the King of SPAIN is bound in honour and jus-
tice to recognise debts which his Government con-
tracted and of which he participated, we have shewn

already.
, The pi oposal to rake a new loan for Spain, at the
very time that a threat is made to disavow former
loans, is in itself so monstrous that we are not surprised
the Agent who has the effrontery to ask it, should be
insulted both on the French and English Stock Ex-
change. On Saturday the first proposition of the New
Regency Loan was scouted on our 'Change; and an in-
timation was given, that if any Member of the Stock
Exchange, either directly or indirectly, bought or sold
any part of the new loan, a motion would be made
for his expulsion; and it will be seen from our
Stock Exchange Report that a new attempt to ne-
gociate the loan met with similar treatment to-day.
—lt is well observed in one of the French Papers (the.
Constitutionnd) in reference to this subject, " that it
is a singular operation in a financier to endeavour to
destroy the credit of that country to which he lends,
because all know that the only means of maintaining
credit is by paying its debts. If France had refused
to recognize those of the Mildred Days, and of the
times anterior to the Restoration, would thats6o-
vernment have found the resources which have so hap-
pily reestablished its finances ?
" Yet France, with its agriculture, its commerce, its
industry, and its Charter, was in a situation little more
happy than Spain with her Monks, ber Inquisitors, and
her absolute power. But what is most extraordinary in
this case is, that the new lender treats those who lent
before as revolutionary. We have not, up to this time,
seen the spirit of denunciation applied to calculations .
of this nature; see what progress public morality makes

The French Papers of Friday, which we have re-
ceived, announce an event for which, however much it
may be lamented, the Public mind was prepared.
RIEGO has been executed. If Spain was not dead to
every feeling of honour and patriotism, the death of
Risco would rouse her: but the blood of one of the
most honest and patriotic of her chiefs will, we fear, be
shed in vain ; and Spaniards witness the sacrifice, the
proscription, and the banishment of the most virtuous
of their countrymen, without an effort to save them,
of rescue their country from that reign of terror which
has just commenced ; and yet it is for a nation thus
sunk and degraded that our contemporaries wished
England to go to war.
The French Papers are principally filled with the
further proceedings in the trial of Carratao.
The official part of the Moniteur contains a report
from Gen. LAROCHEJACQURLIN, addressed to the Duke
of REcGto, who has transmitted it to the Minister of
War. The report is entirely taken up with expressions of
the General's satisfaction with the conduct of the officers
and soldiers in the affair which took place behind Pu-
erto de Mirabete, on the 30th of September last.
The Moniteur also contains congratulatory addresses
to his MAJESTY, on the success of the expedition to Spain,
from the Court of Cassation, the. Conr des Comte:, and
the Royal Tribunals of Paris, Bordeaux, and Bourges.
The following are extracts :
!ROM THE JOURNAL DU DREAM
MADRID, NOVEMBER 7.—(By Emus).
Riego was executed this morning. He asked pardon
of the King and of the people. An immense multitude
had assembled in the square, but order was perfectly
preserved. The prisoner was not insulted. After the exe-
cution the cries of « rive Is Roi I" were heard.—The
Etoile says he was conducted to the place of execution
in a basket. drawn by an ass.

Mina has embarked at- Barcelona for Gibraltar; he
is going to England. Rotten has also embarked at the
same place for Genoa ; he is going to Switzerland, his
native country.