Star.
London, England, 1831-07-09 00:00:00

THE KING'S THEATRE.

An opera is a species of entertainment which to enjoy
requires the previous possession of • certain kind of that
difficulty defined thing termed taste ; and many, even of
those who frequent the Opera House, are inclined to assent
to the sarcasm of the poet—
That an opera like a plUory may be said,
To nail our ears down and expose our head;

but we are convinced that any person who had been present
last night at the Opera House, and gave common attention
to the performance of the almost inimitable PASTA, in the
opera of Anna Bokya, must have b.en struck with the
fact, whether a knowledge of the Italian enabled them
always to follow the artist, word by word, or not—
that the intelkct can be Informed—and the bun
most powerfully moved, through the medium of the eyes
&lune. flow truly wonderful are the talents of this great as
! If to this, which may be termed the intellectual
part of her merit, we add the charms, both natural and ac-
quired, of her voice, even the greatest foe to Operas must
become, however unwillingly, fascinated. This Open
is the composition of DONLLETTI, and has been much and
justly admired on the Continent. Madame PASTA
was ably supported in the piece by Signor Rumen, se
Percy ; and La Malang, as the Monster Heavy.
A new performer, Mademoiselle GAT, displayed veal
powers, which will be an acquisition to the Howe,
and Mademoiselle Hiv e. in the Page, acquitted her.
self with adequate ability. The scenery, costume,
and whole yatinrup of the Opera were excellent.
The audience, as might have been expected, on the benefit
night of such a favourite as Madame PASTA, was crowded
and splendid. The Duchess of Kim?, accompanied by the
Princess VICTORIA, was in the house. The Ballet (Les
Bayaderes) is in itself but a slightly interesting one; but
the fairy dancing of Taotioni, and the ingenious variety
of the shawl dance. make up fur all deficiencies.

POLAND TILE LAND OF FREEDOM, POLITICAL
AND RELlGiovs.—There seems something propi-
tious to liberty in the very soil of Poland. Thus
we learn from history that there the Roman Catho-
lic religion was remarkably tolerant, and never
more so than in the middle of the 16th century,
when bigotry raged in other countries. At a time
when Europe was a prey to religious dissensionf,
Poland was an asylum for she oppressed of all par-
ties, as is exident from its having been the refuge of
Socinus and his followers. Compare this with
the picture of religious freedom in Prussia, three
centuries later, as exhibited in the (Protestant)
King Frederick's recent ordnance (of June 26),
given in yesterday's Morning Herald, and be-
hold the contrast! That ordinance, under path
of " immediate arrest, without respect of per-
sons," forbids " Anabaptists separating from the
Evangelical Church"—to do what? To " pre-
sume to perform Divine Worship!" Here is a
theme for British advocates of religious free-
dom—if such are now to be heard in assemblies
where they were wont to raise their voice in this sa-
cred cause. But we once more give the ordinance
itself, hoping the public Press in England will 110-
Sig its circulation. It is as follows : " Frederick
Louis, &c.—'A sect of Anabaptists, separating from
the Evangelical Church,' have lately appeared in this
country, which seems to have originated in the
neighbourhood of Beitzenburg.

DAVID RICARDO, ESQ. M. P.

From Sir John Sincfoir's Correspondence.

LL
It•
UN

Sir John Sinclair, who yields to no man in
correct views relative to monitory questions,
juglv estimated the overrated pretensions of the
late Mr. Ricardo, whose false calculations and
theories misled so many unthinking men, and justi-
fied them in doing such great mischiefs. The
tollowing letters and observations are at once cu-
rious and illustrative, and do credit to the perspi-
cacity of the Right Honourable Baronet.

Among the authots who have of late distinguished them-
wires in the department of political economy, there is none
who h.ls displayed more acuteness and ability than the late
Mr. Ricardo. We disagreed, it is true, on several particu-
!Ars. and in some points of considerable importance ; but this
did not prevent our carrying on an intercourse together on
friendly terms, being convinced, that whatever might he the
diff, fence of opinion between Ili, both were equally anxious
to promote the public good.
As the communications of PO distinguished an author, on
so momentous a subject as circulation. are peculiarly vs.
luable, I think it right to insert them in this collection, with
some occasional remarks, that the public may have an op-
portunity of judging for themselves, regarding the points
se discussed.
I had conceived the idea, that much information on the
subject of circulation might be obtained from the members
of the Stock Exchange, and had requested Mr. Ricardo to
inform me, who were the proper persons to apply to. In
answer to that application I received the following letter from
Mr. Ricardo. The names of the gentlemen he mentioned
are left blank, to prevent insidious comparisons.
Gatcomb Park, 11inchin-Hampton, 31st October, 181 d.
Dear Sir—l have not quite given up the Stock Exchange ;
but for a few months in the year, I mean to enjoy the calm
repose of a country life.
Though I have a few acres of land in hand, I am not yet
become a farmer. I leave the management of them wholly
to others. and hardly take sufficient interest in what is going
on. to make it probable that I shall be conversant with agri-
cultural subjects.
The Stock Exchange is chiefly attended by persons who
are unremittingly attentive to their business, and are well
acquainted with its details; but there are very few in num-
ber who have much knowledge of political economy, and
consequently they pay little attention to finance, as a subject
of science. They consider more, the immediate effect of
reissi-g events, rather than their distant consequences.—
Amongst the most enlightened, I should name Mr.
Mr. and Mr.
; but I cannot answer that they will be able to affiord
time, or feel sufficient zeal, to engage in financial discus.
!•ions. lam going to write to my brother, Ralph Ricardo,
who is a member of the Stock Exchange, and I will request
hint to mention your wish to the above gentlemen, so that
they will be prepared for any application you may make to
them. I am, dear Sir, your obedient and humble servant,
DAVID RIC•RDO.
11th May, 1820.
- - • • • - -

• .
Sir— I agree with you on the benefits resulting from a
payer, instead of a coin circulation, and I never wish to ace
any other established in this country ; but we differ on the
means of regulating its value and amount. That I think is
to be done best, by making it exchangeable for bullion, at a
tixtxl rate. Ido not deny that the public has suffered much
pressure horn the limitation of circulation, but Parliament is
not responsible for more than about five or six per cent. of
that pressure, the limitation having taken place, and the
currency having risen in value, to within five or six per cent.
of the Mint value, before the rank Committee was appointed.
An increase of currency now, would undoubtedly lower Its
value, raise all prices, and very much lighten taxation ; but
no measure could. I think, be mote impolitic.
It sould be unjust to all creditors, and proportionally ad-
vantageous to debtors. If the payment of the interest of the
national debt is a greater burden than we can bear, which I
think it is not, and cannot well be, the fair way would be,
to compound with the public creditor, and nut make him
only a pretended payment.
Respecting the paying off the national debt, we do not
materially differ. I would pay it off entirely, and never
allow any new debt, on any pretence whatever, to be con.
tracted. You would only pay off a part, and would not ob.
jest to contract a fresh debt, on any pressing emergence,—
You would not exempt foreigners from the necessary contri-
bution. I would. You calculate that we consume as much
corn, and other things, when prices rise from a scarcity, as
when they are cheap from abundance. This I think impos-
sible. If there were an equal consumption, there could be
no scarcity, and consequently no rise of price. You would
give the home grower of corn the monopoly of the home
market, while the operation of paying the debt is going on.
I would, when it was completed, take off all restrictions
on importation. I would leave the law as it is during the
paying off, anti would gradually take off all restrictions
afterwards. To induce capital, by a monopoly, to go into
agriculrure, and then remove it afterwards, would be attended
with ruin to the agriculturists. The restrictions, 1 think,
should not be:increascd,with a view. finally, to get rid of them.
I fear that no plan for paying off the debt will receive any
countenaEce from Parliament. Men do not like to make an
immediate sacrifice for a future good ; and they please then).
selves with imaginary riches, from which they really derive
ru advantage- Are not those imaginary riches, front the
possesssion of which we only derive a revenue, which we are
mmadistely obliged to pay to the tax-gatherer ? I remain,
Sir, your faithful servant, DAVID RICARDO.
Sir John Sinclair, Bart.
REMARKS.— This letter refers to a number of important
particulars, which cannot be fully discussed in a publication
like the present. I must therefore restrict myself to some
cursory hints.
I. I agree with slr. Ricardo, that we should have nothing
but a paper circulation, exchangeable into bullion at a fixed
rate ; but the question is, at what rate ? It seems to me in
the highest degree impolitic to return to the old rate
established in the reign of Queen Anne ; for the value of the
preious metal ought to rise, like every thing else, and the
higher it can be made the better, so as to promote abundant
circulation and high prices.
2 It is not denied that the value of gold has risen to
within five or six per cent. of the Mint value, before the
Bank Committee was appointed ; but this was altogether
owing to the Bank Directors being compelled to purchase
gold, from their apprehension of the proceedings of the ap-
proachill Committee, and the measures it was expected they
sould recommend. Besides, it is quite a mistake to sup-
pose, that the fall in prices entirely depended upon the fall
in the standard price of gold.
3. It seems to me another mistake to say, that it is better
to reduce the interest of the public creditor, than to pay him
in a depreciated currency. When he is paid his full demand
in a depreciated currency, the loss is not materially felt.—
The creditor who receives it pays his taxes, his servants, his
medical, and various other expenses, in that currency, with.
out any loss. If he has any other property, in lands, or
houses, or mines, &c. the income he derives from them is
augmented—the stock he holds is increased in value. In
short, he loses hardly any thing by the transaction ; whereas,
if his income is diminished, he loses, in all these respects, in
the same proportion.
4. The effect of borrowing money, instead of raising the
expenses of a war within the year, seems to me to be of great
advantage, and is fully explained in the History of the
Revenue, vol. 1, part 2, chap. 2. The plan may be liable to
some objections, but so are all human regulations.
5. It is a mistake to suppose that i calculated that corn,
and other commodities, were consumed in u great quantities,
in times of scarcity, as in times of abundance; my calcula-
tions were of an average description.
6. The cot eluding ph in Mr. Ricardo's letter is
highly important ; anr;altivie no doubt, that no objections
would be made to the payment of debt, if the taxes were, at
the same time, proportionally reduced.

An " Adventurer" has eloped with a young
lady, which has excited an extraordinary sensation
in high life. We decline further particulars at
present.—Morning Paper.
On Wednesday a dinner was given at the City
of London Tavern, by the Honourable the East
India Company, to the celebrated Bramin, Ramo-
hun Roy. About eighty sat down to a very
sumptuous entertainment. It was what is called a
Lundy dinner, in contradistinction to the grand
feast given upon the eve of the departure of a
Governor for India. The Chairman of the East
India Company presided, and the Deputy Chairman
filled the opposite chair. Lord Caledon sat on the
tight, and Ramohun Roy on the left, of the
Chairman.