Star.
London, England, 1826-02-15 00:00:00

•
E. I. SYuoxns, Dairi..ttiogaiia, LEVI BaoTßeas, and
8. 11. ISRAEL. These parties were all looked tpon-is
first-rate men on the market, end were all of the Hebre w

persuasion. The differences of all of them are very
wear. Mr. MOCATTA failed on the market about three
yeast since, when the rapid decline took place in
Spanish Bonds, in consequence of the declaration of war
by France against Spain. Mr. SYMONDS, independent
of his Stock Exchange avocations, is an eminent Dutch
merch Ant ; and LIMY (Brothers), were the prir.cipal
brokers for a large house.
These failures. however, excited little surprise. or
alai in, compared with that of Mr. GOLDSCHIMIDT, whe
is engaged in the m +ft extensive specolations, both as
a loan contractor and a general merchant, and who had
c mmercial intercourse with almost every capital in
Europe. Mr. Got.riscatutisr was contractor for the
M. xican and New Colombian Llans,.which have fallen
most rapidly. Colombian Stock, which was at a, in
the beginning of Januiry, and at 52, so late as Mondey
last, was this day down as low as 40.
The suggestion in the House of Commons last night,
by the CHASCELLoR of the EICHICORR, that the Bank
of England should invest a portion of their funds in the
purchase of those Securities, which .are now at a low
raged interest, was this morning acted on by the pur-
chase of Exchequer Bills to a large amount; in conse-
qttence of which, from being at a discount of 18, 20,
or even 22, they rose to par. Nothing more strongly
:hews the excess, and even absurdity, of the panic io
the Monied World, than that Exchequer Bills, the se-
curity of which is so perfectly unquestionable, should
be at a discount.

It may be adduced as a proof of the erensive deal-
ings of the house of Mr. B. A. GOLDSMIDT, that two
years *ago, one of his junior partners retired from the
firm, with a fortune of 5J0.0901.

The debate on the all-important question of the Cur-
rency was resumed both on Monday and is night in
tie House of Commons) in which Government have been
supported by vast majorities. We have presented our

Readers with .copious reports of the sentiments delivered

by such
.of the Honourable Members as have taken a
leading part in the discnsion. We have mere than once
declared our candid opinion, that the distresses of the
country had neither origi, ated in, nor are capable ot,
mitigation, by the immediate consideration which forms
the subject matter of this debate. The discussion, how-
ever, has elicited, and will eliCie, thesentiments of many
enlightened and experienced Statesmen, on the causes
which have led to the present unexampled crisis of of
Until it shall have been concluded, we refrain
from any comprehensive review of what may have
passed, conceiving that-our labours may be more use-

fully direved to the elucidation of part'cular points,
which have arisen in the course of the debate.
On one of those, points sr* observe a strange misenn-
:eops-loisior Pteraii, and on which objectivity ate uproar
and reiterated lithe OpPo';itiOn, which are sometimes
passed by in silence, and never on any ocbavion satis-
i factorily answered by Ministers. We allude to what is

called the "Dead Weight"—a singular phrase—which
has probably embarrassed many of onr Readers, ;nai-
-1

much as it is likely hereafter, at some remote period,
to puzzle the future historian. Of all the financial
measures which we can remember, there has scarcely
beers any one so thoroughly misunderstood in some
quarters, perverted and misrepresented in others, and

confounded and ridiculed, and mystified on all hands,
so completely as this unfortunate project ; and yet no-
thing is more easy of comprehension than the principles
on which it was founded, nor more beneficially appli-
cable to the times and circumstances to which it was
adapted, than this same affair of the " dead weight,"
which we think it our duty to explain.
After considerable progress had been made in wind.
ing up the heavy accounts of the late war, and after a
general understanding prevailed that a return to pay-
ments in the precious metals could no longer be pro-
crastinated without manifest danger to our commercial
intercourse with foreign nations, which was tantamount
to an abridgement of the circulating medium in paper,
the cry for a remission of taxes was raised, both in
Parliament and throughout the country, in such a tone
as could nether be misunderstood nor disobeyed.—
At the same moment the curtailment of the paper
currency produced a pressure on the agricultural in-
terest, which rendered it absolutely necessary to miti-
gate the weight of taxation by every possible means.—
The funds provided for the gradual reduction of the
National Debt were abandoned. Economy was c +tried
into every branch and corner of the public expenditure
with an unrelenting, nay, we must say, sometimes with
an unfeeling hand. The Army was reduced to such a
point, that constables and workmen mounted guard at
our dock-yards and arsenals. The Navy was curtailed
to less than the fifteenth part of the force of which it
had consisted in the late war, and shrunk into such di-
mensions, that in the intertropical climates jtudacious
pirates swept the seas with impunity. All ordinary
means of retrenchment, however, were insufficient to
give satisfaction to the Landed Interest. The aban-
donment of one source of revenue was but the stepping.
stone to the destruction of another, ti:l at last there was
heard within the walls of Parliament--aye, and with-
out any very serious disapprobation, a voice requiring
nothing less than a national Bankruptcy, under the
spacious name of a climpromise with the public
Creditor. At that moment Lord BettLeY, with a de-
gree of consummate skill and 4bility. to which poste•
rity will render that justice which his cotemporaries
deny, conceived the idea of relieving the pressure of
taxation by a method which was perfectly novel—
without precedent, and such as could only have
entcrei the mind of an original thinker. He ob-