Star.
London, England, 1826-01-02 00:00:00

EXCHANGES.

Hammon, Dic. !7.—A holiday : No list printed. Done on
London at 21 id. 34. 9. Money in abundance. Discount 9to 9
per Cent.
Se. Persasionon, Die. 13.—0 n London, 101.
Larne, Doc It3.—On London, S M. 6. 16.
&taw, Die. 24.—0 n London, 3 M. 6. 241.
BERLIN, Dictums* 24.

Yesterday, we were remitted 14 maks easy here, by news
from St. Petersburg'', where there have been large purchase.' for
the Sinking Fund of Five per Cent. Inscriptions at 89 ; and of Six
per Cent. Inscriptions at iOn, on which a great improvement in the
price of Funds took place here.
FRENCH FUNDS, Pens, Demme 51.

Flee per Cents.
Three per Cents. .
Bank Stock
Renter de Naples

. 961 20c.
. 65f. 50c.
. 2060 f.
. 76f.

Royal Spanish Loan, 11125 . . 411 f.
FOREIGN FUNDS, TWO O'CLOCK.
Austrian lids 5 p Ct. slex. Scrip,
Ditto Acct. Ntapolitan Bantle'
Brazilian Bands, Prruv. ILIs 6 p C.

Dls. Suip,S pC.11125,
Buenos Ayres Bonds 74
Chilian Bonds. 6 p Ca.
Colombian lids, r p C.
1)o. lids 11124,62/ 5 21 3i 3
1)o. Aec. 631 51 21 3114 21 31
Danish Bonds,

I .
Ditto Scrip, 182.5,8 p C.
Pot tuguese Bonds ills
Pro's. !Ms. iv C.
llDitto ATet.
Do. Bonds. 181 It
Th 144.1141,1822,6 pC. 80 791 801
Ditto Acct. 80
89."

Du. Marks lip Ct. t 221
Ditto Bonds. pC.IB2S, 6912 31 ditto for Ate. 121
Ditto Acct. 601 11 • Din. SIC, 121
Greek Bonds Span.-5 pi Ct. C. 1823,
Do. U 1,1825,14 • French Itentes, Sp C.
Ditto Acct. • Fick
ilex. Bonds 5 p. Ct. French Itentes,l4 C.
Ditto Acct. 5 C. Exchange, J.Ly
Do. lids, 1825, 6 p 0.651 21 61 Guatemala. Boo*,
Do. Acct. 4151 1471 61 Ditto Scrip :
BILITIS3I AND FOREIGN SIIA II ES, TWO O'CLOCK.
- IMAM - • PASa••
100 SS 4S 17}
100 S. 4j 51
100 6 5
100 5 11
Lie Xl2 108. 117 e
SO 4 1
100 541
50 5 5i 1
2S 5 946 1 di,.
40 110
40 10 20
100 3 14
100 10 5

Anglo Mexican. Spm.
Anglolian
Castello & Espirito Sant•
('hilian
Farnatina
Hibernian -
Pasco Peruvian
Potoo, La l'az,& Perim.
Royal Irish
United Mexican

Ditto New
Australian -
lesicass Company

With the commencement of a new year, we real'y
believe the thinking portion 'of our countrymen are
heartily di ,posed to promote the commencement of-a
systematic reform of the many crying abuses which
have led to the rece.rt agitation of oul money market,
and spread such consternation and distress throughout
the land. ;Those abuses are by many supposed to con-
sist in our existing banking system, fur the reformation
of which, many remedies are proposed ; and in particu-
lar, it is suggested that our count:y banks should, in their
future constitution, be assimilated to those of Scotland,
which are composed of an unlimited number of partners
Of this last remedy we shall merely say, in the con-
cluding word. of an ingenious cure for the tooth•ache,
which appears in the Times of this morning, 46 that
the full efficacy of it will be best known by the test of
experience r and so far we fully ogres with the one
and the other recipe. To simple understandings, how-
-1 ever, it may admit of a doubt, at least, whether the
combining the greater pmt of the landed Geury of a
County as ploprie.ors or partners in a Country Bank,
each of whim wi:l have some infilence in obtaining leans
or discounts, and have a personal interest in diffusing
the circulation of local b.ank notes, be the mist infallible
means of preventing an excessive issue of accommo-
dation paper, and consequent speculation, in the
country ? That the ul irate :milky of the paper would
be increased we do not deny, but the whole question
relates to an unnecessary issue of Bank notes, which,
while convertible into gold, never can maintain their
value, unless in moderate quantity, whatever be, the
security. This fact, we think, is sufficiently attested
by the late downfall of so many eminent houses, pos-
sessing a superabundance of property.
And while Englishmen reason on the prosperity of
the Scotch Banks, and fancy that the same effect would
follow in their country from adopting a similar system
of Banking, they ari, perhaps, overlooking one or two
important considerations in the laws and customs of
Scotland, which are never overlooked, however, en the
other side of the Tweed. Debts of every description
ate more secure in Scotland than here. All the landed
property in Scotland, which is at the disposal of the
, proprietor.by being unentailed or unincumbered,is liable
to be sold for the payment of simple contract debts.
',. Even ugrocer's account may bring a Nobleman's estate
to the hammer; and the meanest individual In the
kingdom, that chooses to take the trouble, may ascer-
tain, for few shiUings, the extent of entail or incum-]
braises which affects the estate of the highest or lowest

?landed proiprte: or whatsoever; 6i:ince no trinikettottinr '
deed of any kind, affecting lands whether by way of
sale, mortgage, or otherwise; is it all valid in law, unless
ntcordee-in the public registers within forty days after
date, which registers any one may inspect.
Moreover, and which is still more important, the
pt irtilege of attaching a debtor's moveables in the hands
of a third patty, on the commencement of an action,
which is peculiar to the City of London, is universal in
Scotland, and reduced in practice to the greate,t simpli-
city. But further, and which most of all concet ns the pre-
sent question, every simple contract debt of whatsoever
nature or kind, bears interest at the rate of five per
cent. per annum, as a matter of course. Consequently
the Scotch cte 'icor has n ► such occasion to call in
his debts, which are so amply secured, in order
to invest the money in the public, funds, or II
other speculations, as the creditor in this country.
The debtor there, whl has any visible substance, has
the most decided motive to acquit himself of the obli li
-
Ration, in order to save interest. The quantity of
ci culating medium, therefore, alsich is sufficient for
every useful purpose in S.o land, is reduced, by the
con ent of all parties, to t'e lowest point compatible
with the ordrsary tt ansactions of buyer and seller.
\V apprehtnd that those considerations have a ma-
terial influence, not only on the banking system North
of the Tweed, but also on the general prosperity which
that portion of the Empire has so long enjoyed—and
many, very many improvements fall yet to be adopted
in England, before she can compete with the sister king-
dom in commercial advancement.

We have received the Etoile of yesterday by express.'
On New Year's Eve, the KING received the congratule.
Lions of the Staff, the Commanders and Officers of thoh,
three Legions of the National Guard, of the Royal.
Guard, and of the Qarrison of Paris, &c.
The r toile notices some mistatements in the Quit.
tidienne and she Journal des Debats, on the subject of
Russia, and the succession to the Throne. It appears
that the latter Journal ha I stated, that on the arrival
of the Grand Duke MICHAEL at St. Petersburgh, the
Sen ,te was convoked, and NICHOLAS I. proclaimed
EMPEROR. The Mae says, this is mere conjecture,
for no account of the arrival of the Grand Duke MI..
CHAIL, at St. Petersburgh, had been received.
The report of the Emperor CONSTANTINE having
renounced the throne in favour of his brother Nice°.
LAS, is said to have originated at Warsaw. So far,
-however, is this from being the case, that letters from
,St. Petersburgh of the 10th ult. are unanimous.in their
praises cf dm Grand Duke Nicstra.as. who proclaimed
hls brother, notwithstanding the renunciation said to be
in his favour. When asked on the subject of proclaim-
ing CONSTANTINE, he replied, " If you ask my autho-
rity, I tell you, that it is ip the name. of that authority,
that I now demand of, to take the oath of fidelity
to my brother."

• •-1

Letters from Warsaw 'state, that before the nears of
the death of the EMPRItoR reAched there, the Princess
1.4-cwtcz was on the point of going to Ems for her
Ite.dth, which di.' not pet mit her to leave the climate of
St. Petersburgh.
- -

The French Pa,:e-.•s of Friday and Saturday have
reached us. The principal topic of political interest at
this moment in the French .Cipital, is the election of a
Deputy. for Vet vins, instead of General For. Neither
of the Liberal candidates will give up his pretensions.
The Constitutionnel throws all the weight of its inns!•
ence into the scale in favour of its eloquent defender,
' M. Dim 'rhe Courier Francais labours with equal
zeal to insure the return of M. LAIHTTS. The sub-
scription for the family of General Fot amounted to
595,000 francs, nearly 24,0001. sterling.
The Emperor CoestAwrisc, it appears, had not left
Warsaw on the 23d tilt. nor was preparation then made
for his departure. The news of his brother's death, it
is stated, had shocked him to such a degree as to in-
duce serious indisposition.
These papers contain letters from Madrid, which still
speak of an expedition for the reconquest of South
America, for which Spain will supply (it is said) the
soldiers, and France and Russia the ships of war and
transports! The brilliant anticipations which such an
announcement is calculated to inspire, produce, how-
ever, no effect on those insensible persons who influence
Spanish credit. The shares of the National, or Sr.
Charles Bank,, which represent 2,000 reels, are now
selling at 220.•
A Spanish Correspondent gravely affirms [that the
privatters, 41 cruising under the flag of the American
'lnsurgents" are fitted out at Gibraltar, by BiRTRAND
Da Lis, and the other Constitutionalists who have taken

refuge there. It would, we suppose, be too disgraceful

to admit that the marine of the revolted colonies is
blockading the ports of the Peninsula at the very time
that it is pretended an expedition is about to sail for
their re-conquest.

By advices from Missolonghi, in the Moniteur, we
learn that great efforts had been made there since the
raising of the siege, in order that the place may be lit
to defend itself against the fresh attack with which it is
mot iced. The troops of REDSCHID PAIL % were again
moving towards Missolonghi, but the CAPITAN PACtu
would not be able to co-operate effectually .until he had
defeated I.VltAuLts, who was off Cape Papa, watching
1 his operations.

This forenoon we received Hamburgh Papers to the
28th ult. They contain some official and interesting
details of the last fatal illness of the Emperor &Lax-
ANDER, which we subjoin. If there be any persons still
sceptical enough to believe that the EMPZROR did not
die a natural death,d.
they certainly ought to be Posted.
The following are extracts :

at PETERSBURG% Datums 14.

On the 29th of Novembet a ktter was received 1 ere