Star.
London, England, 1826-12-21 00:00:00

PARIS. Dreams= 18.

We said the Ministerial policy acted with so much
skill, that it ended with recoiling upon the Continent
the power of England,a lamentable fault, which annuls
that which could effect in the treaties of Vienna and
Paris, a kind of counterpoise to the prejudices rai.ed
against France by these treatiesa fault for which the
Continental Powers will never cease heteafter to re-
proach that deplorable administration that desolates
France. Without doubt, it would not be necessary to
listen to these Powers in everything which could injure
the liberty or the honour of our country; but it would
be a temarkable folly to think ourselves insulated on the
Continent, and to place ourselves in such a situation
that the insular and continental policy would have
equal reason to complain of us. Let us march neither
behind Mr. Canning nor M. Metternich.
We asked if it were possible for us to remain with so,
little force in Spain, while England occupied the coun-
try and the ports of Portugal with its troops and its
vtssels? Fire thousand English have landed at Lisbon.,
Among these troops are all the infantry regiments of '
the guard of George IV. and the corps of cavalry,which
announces the plan of a permanent occupation, and of
little importance could one foresee the fortuitous case
of a military movement in the event of civil war.—
Though peace may be very desirable, cannot one say,
as Mr. Canning has said, that there are two positions
when people are obliged to have recourse to arms—
namely, when national honour and public faith are
compromised. If we had no troops in Spain, the occu-
pation of Portugal by the English would be lamentable'
without any immediate danger, but the presence of the
white cockade in the Peninsula complicates the question,
and occupies the minds of all.
This is the moment at which the efficiency of an army
appear. to be diminished. The Prussians, say they,
occupy villages in France. Our frontiers fall into ruins ;
but to-day let us attend to Spain.
It cannot be denied that the movement of Portuguese
refugees took place with the approbation of that party
which our arms caused to triumph in Spain. Thew
masses, so ungovernable, and which follow theiropultes
of those who direct them, without obrying legal autho-
rity, hold the English in horror. The Spanish Govern.
smut have no regard for that nation; and tie acknow-
ledgment of the Spanish Republics by Great Bri.ain, is
a fresh and rankling wound in the bosom of (very
Spaniard whatever may be the class and politics to
which lie belongs.
While England openly declato us her ally, and fell.'
citates us in -basins done, conjointly with her, every
thing which was in our power to prevent the inva,ion
of the Marquis de Chaves, with what e)e must we be
looked at its Spain? It -a war should arise, not between

LONDON.

THURSDAY, DECEMBER 21, 1826.
ST. Tnostas's DAYHOLIDAT AT TIM Rum.
STOCK EXCHANGE, TWELVE O'CLOCK.
Consols, which opened this morning at the same price they left
off yesterday, $O4 to 4, were aeon after dose at 1101 for the Ac-
count buyers, which was owing to the Express from Paris bringing
the French Reines higher, and favourable news frees Portugaill
but within a short period, the market has taken a sudden change,
and Consols have receded to 110 j. owing to a report that 111. de
Va.z.azz's Speech le in town.
There is nothing doing in the Foreign market, and the prices are
almost nominal.
Current prices ; Old Spanish 13, Mexicans 644 4, Colombian
531 344, Cuhills 37 39, Peruvian 30 Sit, Russian $2l $34.
CITY, ONE O'CLOCK.
Consols, which were in the earlier put of the morning at $Ol
for the Account, have receded to •o, and at present may be quoted
ratsoto j. with little doing. This heaviness in the market is sow
attributed to the accounts from Portugal not being of a favonrablei
description, foe it is said that an insurrection has broken out in a
town near Lisbon ; also that the Portuguese Government have de-
creed a loan for Six Hundred Thousand Pounds.
The Foreign market remains in the same inactive state as in the
earlier part of the morning, with no business doing.
PARIS STOCK RICCA/40R, TURSDAT MC. 19.
5 per Cents. 9Sf. 40c. 35c. 40. 50c. 53e. 65c. 60c. 55c.
3 per Cents. 87f. Sc. 10c. sc. 15c. 20c. 40c.
Bank Actions 2042 L 30c.
Colombian 35.
Mexican 65.
Naples Renter 71f. 80c. 83c. 72f. 71f. 90c. 72. f. 72f. Sc. 10c. 711.
Cortes Bonds, 104.
Royal ditto 484 1.

One Month, 2Sf. 40c. paper ; 25f. 35e. cult.
Three Muth., 1.51. 2Se. paper ; tsf. 20e. cask.
N.B. The Three per Cents. closed, on Tuesday evening, at Four
o'clock, at 67f. 40c.

We have received this morning by &press, the Paris
Journals of Tuesday, and the Boils, dated Wednesday.
On the former day, a slight improvement took place in
the Funds ; and the organ of the temperate, more
talented, and hitherto the more influential part of the
Cabinet, continues, under the courteous head of " lies
of the day," to demolish the warlike rumours and in-
ferences of the Papers devoted to the ultra and liberal
Opposition. It again denies, in allusion to a statement
in the Aristargae, that it ever was in contemplation to
appoint either Marshal MAakoNT or Marshal Mo-
LiToa to the French Embassy in Spain. Still the
Node is singularly abstinent as to remarks of its
own, upon the present posture of affairs ; and this
reserve, we suspect, is a faithful picture of the un-
certainty in which the policy of its patrons ap-
pears to be involved. As long as that Power does
not know its own mind, but continues, like the pendu-
lum of a clock, to vibrate between peace and war, it
would not become us to hazard a peremptory opinion as
to the issue. We wish that the voice of reason, which
we shall call the good angel of the House of Bourbon,
may prevail; though we cannot conceal from ourselves,
that between this wish and its accomplishment, there
are many formidable obstacle; interpossi.
In the tneantiine,the Ministry betray their apprehen-
tion% by putting off by means of artificial delays, the
m eting of the Chamber of Deputies, where the affairs
of the Peninsula will probably be discussed with a vio-
hence cortesponding with their impor.ance, and with an
actimony equal to the collision into which they have

brought party-feeling. It cannot proceed to business btr-'
til a, Presidenris appointed, and it has not been possible
as yet to collect the requisite number of Mettsbers for
this purpose.
As it would be rash to call this the effect of accident,
we look upon it rather as a proof of ministerial anxiety,
andsof the warlike spirit by which a large portion of
those, who usually vote for the Government, seem to be
animated at this time. When we see those persons, who
know Fracce best, and are most competent to appreciate
her resources, as well as the force of public opinion—
when we see them shrink back from the consequences of a
war,and behold theßoyalists,who are become a bye-word
for poverty of judgment and talents, ready to play algame
proverbially hasardous at all times, but peculiarly so at
present, we cannot help thinking, that, if the latter
prevail, they will seal their own destruction, and that
of the Monarchy. This country would have nothing
to fear for herself in such a contest; and if her
Government hesitate, it is from a strong presenti-
ment alone of the irreparable ruin in which hosti-
lities might plunge the House of Bourbon and
its partisans, both in France and Spain. We are as
anxious as possible to impress this great truth upon the
war-factions in both those countries; for, upon the im-
pression it may make, will depend, whether they become
again outcasts upon•tbe face of the earth.
The intelligence in these papers from Portugal adds
but little to our previous information, though it repro.
sents the rebels as making their way almost at every
point, whilst it quotes some instances of success, and
affords several examples of the most praiseworthy
firmness on the part of the loyal Portuguese. The
Quotidiame mentions two circumstances, which might
be considered as highly ominous to the Constitd-
tional cause, should they be corroborated ; we
mean the declaration of two considerable places, both-
in the immediate neighbourhood of the capital, in
favour of the rebels. But we must have a much better
authority, before we can attach the slightest credit to
a report, to which there is no allusion in any other
French Paper, and upon which the Lisbon Jour-
nals, which reached us last night ate wholly silent.—
In the meantime the tone of the latter is any thing
but disheartening ;• and to judge from the language,
and proceedings of the two Chambers, and above
all from the firm countenance of the Government,
we cannot help thinking that too much import-
spice has been hitherto attached to the insurrec-
tion. It is our opinion that the rebels owe all their
success to surprise, and that they will melt away
ass rapidly as they hive been collected, when the well-
disposed part of the nation has time to recover from
the consternation into which it has been thrown by so
sudden, so unexpected, and so flagitious an attack. The
news from Spain is also scanty, vague, and indecisi►e
and her Government will probably vacillate between its
fear of England and its desire to put down the Portu-
guese Constitution, until the opportunity for coming to
a safe decision shall wholly pass away.
_ _

The Meniteur of, Tuesday republishes a circular
of the Neapolitan Government, dated as far back as the 11th
of September, and of which a copy appeared in the French
official Journal seven weeks since. The ostensible reason which
is assigned for giving It again, is that the former translation
was iu incorrect, though probably the real cause is the violence it
displays against the partisans of the Constitutional system, who are
threatened with unsparing rigour; and the reappearance of this
'document, at the present moment, speaks volumes, in our opinion,
as to the real feelings of the French Government.

The following communication has been received this
morning, at tl4 North and South American Cof4e
House; and we cannot help thinking that its facts, and'

particularly its inferences, are too highly coloured. But
if both were true to the very letter, the appearance of
our expedition would soon put matters to right :

" LISBON, Disci:um S.

14 This country is in a state almost approaching to
anarchy. We are at this moment almost without a
Ministry. All the Ministers, except two, hare sent in
their resignation two days since, and it is found difficult
to form another set.

" The Portuguese rebels have entered from Spain by
various points, and, assisted by Spaniards, hare taken
several places. It is said that the old Queen attempted
to escape the night before last, from Quelnz, intending
to go and place herself at the head of the rebel troops;
had she succeeded, it is difficult to say what the conse-
quences would have been.
41 We are anxiously expecting British troops ; if they
be not sent out very shortly, I fear that they will be
too late, and the Constitution must fall, in which ca e
our situation will not be very pleasant. The Anti-Con-
stitutionalists attributing everything that has taken place
here to the English.

" A British Merchant residing at Braganza, (which
place has been taken by the Rebels) has been plundered
of property to a large amount, and it is not known if
his person be safe."

We this morning received the Nuremberg Correspon
dent of the 13th inst. from which we copy the following :

FROM THE DANUBE, Deco:mist 7.

It is said that the Infant Don Miguel, animated by a
wish to prevent the evil with which Portugal appears to
be threatened, has been induced to send to his sister, the
Infanta Regent, a declaration, in which the Prince ex
presses his indignation at the shameful abuse which the
leaders of the insurgents have dared to make of his
name, by placing it at the head of their incendiary pro-
clamations. As the Portuguese Prince is in a situation
in which there is no restraint whatever upon him, and
his recognized and sworn to the Portuguese Charter, it
cannot be doubted that this act,to ahich,in all probability,
the greatest publicity will be given, proceeded from the
same motives. It is added, that a Courier has been dis-
patched from Vienna with this important dispatch, from
which the most salutary - effects may be expected, as it
deprives the insurgents of every pretext tot their aim...
nal enterpr ize.

There is no news in the private letters from Lisb:4
to-day, as they bring old dates frsm the interior.

Hamburgh Papers reached us this morning to the
16th inst. They contain advices from the Russian capital to the
3d inst. announcing the arrival of advice. from the seat of war iu
Persia, which are dated the ltth November, but without notifying
any fresh advantages in favour of the Russians. It is said, however
that the Persians were retreating at .that time in every directive'
,
without any serious attempt, however, having been made to loose*.
them in their retreat.

• FOREIGN FUNDS, TWO O'CLOCE.
Colombian Bond., 6 p Ct. I Mex. 11121825,n p. Ct. 641 I a
Do. Bonds, 1824,34 i a Do.Aect. 65 4} a
Do. Acct. 34a a} Peruvian Bonds, 6 p C.
Penh& 80nd2,3 pCt. Ditto Acct. 31
Do. Acct. 561 7 Russ. lks, 1822, 5 p r. 83 a
Greek Bonds, 5 p Ct. Span. Bondi 5 p Ct. 12a 13
D0.80nd5.1885,5 p C. 1711 Fr. Reines, 5 p C. 98f
Mex.Bonds,s per Ct. 54 Exchange, 25f 50e
BRITISH AND FOREIGN SHARES, TWO O'CLOCK,

WA it 14 ram.
Arigna Iron and Coal 50 12 4
Colombian • 100 13 13 14 13
Potosi La Pas and Peru. Ass. SO 5 £2 181.42 13s. £2 lit,
Royal Irish 25 1 946 17s. 10s.
Marine Alliance 100 5 5
Canada Company 100 10 12

EXCHANGES.
Hosannas, Dsc. 15.—0 n London, 36. 7. 2M. 36. 4.
Sr. Przsassuaan, Dtc. I.—On London, 9 11-16.
Lorna, Dsc. 11.—On London, 3 M. 6. 161.
Mitsui, Doc. 12.—0 n London, 3 M. 6. £7l.
Vmais, Dm 6.—On London, 3 M. 10.

LISBON EXPEDITION.

44 PORTSMOUTH, DECEMBER 20.

44 The bustle of the place is a little over to-day—
yesterday we were all life and confusion; nothing but
Generals to be seen, with their long feathers flying, from
one Hotel to the other.

" About ten yesterday morning, the Mumma
got under weigh, but was recalled, in consequence,
it is said, of the unexpected arrival of Lady, Dow
vent, who intended to embark with her husband.
—ln the afternoon Sir EDWARD BI,AKENRY and
Sir THOMAS ARBUTHNOT, with their horses, as.
barked at one o'clock on board the MELVILLE,
which ship had come to anchor again; and at three
o'clock, Sir THOMAS HARDY, With Sir HENRY CUE.
TON, the Commander in Chief, together with all the
Staff, embanked from the King's Sailyport in the Ad-
miral's barge, and proceeded on board the WELLEsLET.
" Sir H. CLINTON'S baggage did not arrive here until
late yesterday, in consequence of the van in which it
left London breaking down—this caused some delay.
However, this morning the %Limner and MELVILLE
got under weigh, with a fresh southerly• wind: while
working out of St. Helen's, the GLOUCESTER hove in
►ight, accompanied by two Government steam-vessels
—she was ordered to proceed; and those two ships
soon rounded Culver Point, and by one o'clock were
out of sight. The MELVILLE, from what we can
serve from the shore, appears to be a very heavy ship;
she had the start at first of the WELLEILEY, but she
soon passed her, and appears to sail two feet for the
MELviLLE's one.
" We understand 100 Marines embark to-morrow
morning in the SPARTIATE, which ship is to be paidon
Saturday, and expected to sail on Monday neat. She
has not her lower deck guns out, but is complete 011 the
war establishment, as an efficient ship.
" To•morrow the 10th Hussars are expected, and
will embark the moment they arrive, as transports are
all ready for them. It is a pity the horses had not
been off before, as, in case of a westerly wind coming
on, the horses make poor sailors beating to windward
in the Channel; two days earlier would have been
every thing for them. •Go when they may, the troops
will carry with them the hearty wishes of their coun-
trymen.

Lord MELVILLE arrived at the Admiral's on Mon-
day afternoon; he visited the Dock Yard on Tuesday
morning, and the Naval College, it being the Students'
examination day, previous to going home for their ho-
lidays. His Lordship did not go afloat, nor hold a
levee, but looked at she experimental ships while in the
Dock Yard. A select number of Naval Officers were
invited to meet his Lordship, at the Admiral's, at din-
ner each day, and this morning his Lordship took his
departure for London.
64 The Ambassador for South America embarked
(under the usual salute) this afternoon, on board the
FORTE, accompanied by Prince ESTERHAZT, who was
also saluted on his Highness's leaving the ship again.
She is expected to sail to-morrow morning."

AIIOTBEIS LITTZR, SAMI DATE.

" His Majesty's ship GLoocasvan hove to off the Nab Light this
morning, until his Majesty's ships Mr.tvn.t.it and Wauastxr get
under weigh, when they sailed in company for Lisbon, under the
command of Admiral Haar.—Wind S.S.W. to E."

4 PLYMOUTH, Dw. 19.

" Sailed his Majesty's ship Brrrrax, to the westward. His Ma.
jesty's ship WIDDSOK Castle did not put to sea until this morning,..
Wind 5.8."
The LORD CfIANCELLOR.—The answers given to in-
quiries made at the residence of the LORD Caartcat,Loa yesterday,
were, that his Lordship was rather better than he had been for the
last few days, the pain bring now chiefly confined to his Lord.
ship's font.
Sir HERBERT TAYLOR transacted business, yesterday
morning, with the Duke of YORK, and afterwards held a Levee as
his Office in the Horse Guards, as Military Secretary to the Como

mander-in-Chief.
Mr. HUNTER, sen. the King's Messenger, arrived at
the Foreign Office, yesterday morning, from Paris, with Dispatches
from Lord Ga.servu.t.t, our Ambassador there, to Mr. Secretary
CANNING.
Baron STIERNELD, the Swedish Minister, and Mr.
GALLATIN, the American Minister, transacted business yesterday,
with Mr. Secretary CANNING, at his Office in Downintstreet.
Yesterday, a Court of Directors was held at the East
India House, when the following Commanders took leave of the
Court, previous to departin for their respective destinations,
via •r
Captain Jouw lime, Atlas, St. Helena, Bombay, and China; Capt.
JOHN It. MANDIIR SON, Bridgewater; and Captain Tuultas Bags',
Lowther Castle, Bombay and China.
The undermentioned Captains were sworn into OW
command of their respective ships, viz.—Capt. JOHN Peru Wis.2uPs
Ilyrhe, Bombay and China; and Capt. IVII:LIA3I CAVIGNSUANN;
Farquharson, Sc. Helena, Penang, Singapore, and Chula.
State of the Pull tor the Corouership of Wofcebter•
shire on Yloaday evening—
Smith 590 I Stokes 490