Star.
London, England, 1826-03-28 00:00:00

.., ~.

' CITY, TWELVE O'CLOCK.
The Bank, Stock :Ikchpnge, and Foreign Market; continue
closed, and the assemblage on `Change a Brokers and Jobbers it
less la number than no yesterday. Not a bargain has been done.

11111 yet,-but tberofferin 1f ihr Consols. In Foreign Securities
nothing has been done. It is reported that the Funding of Ex-
chequer Bills will take place after the sth April, when Parliament
meets again.

ONE O'CLOCK.
Scarcely a single bargain has as yet been done either in Consols
or Foreign Securities.

It seems new to be doubted even by Scotch men them-
selves whether the infliction of a metallic currency on
their country, instead of a paper one, will be so dice a
calamity as some of them apprehended. Ministers, it
is known, have appointed a Committee to inquire into
the subject, ani if they are convinced of its expedience,
they will not be deterred from the measure, even though
claymores may be invoked to resist it, and it may be
numbered with those two outrageous crimes, sweeping
away a corrupt Revenue Board, and leaving Scotland
•
without a standing army !
It is true, that in Scotland a great outcry against
extending the English system of currency to that
country has been raised, by an able writer, and that
Petitions have been presented against it by Bankers
and Merchants, but the great body of the Scottish
people view it with indifference; nor has the most pow-
erful pen that could have been enlisted into the contro-
troversy been able to convince our Northern neighbours
that a paper is better than a metallic currency.
Even the Scottish Members, who were so earnestly
called upon by Malachi Malagrowther to resist, in a
phalanx, this new inroad on the liberties of Scotland, as
it was called, seem by no means convinced of the per-
fection of their owls system : nay. more—we believe
that the very deputies sent from Scotland to resist the
measure, are unable to prove that it is likely to injure
the banking interests of their country. Two of those De-
puties, Mr. KIRK MAN FINLAY, formerly Provost of Glas-
gow„ and Mr. BLAIR, from the Bank of the British Linen
Compaoy,have already been examined before the Com-
mittee; and.their answers form a strong argument in
favour of the proposed measure, and tend to spew
that any inconvenience that may at first be felt by in-
dividuals, will be very far outweighed by the perma-
nent benefits it must cause on Scotland at large. Mr.
BLAIR* for example, oa being asked whether he did not
think that the Scotch Bankers would find sufficient
means. after a time, of indemnifying themselves against
any eventual loss from the prohibition of one and two
pound notes, was obligedto admits that in All likelihood
they would. •

Such an admission, from a person like. Mr. BLAIR)
speaks volumes; for be it recollected that be is no
•
theorist, nor a person of a romantic imagination, bad an
experienced and practical man, who, thooshatiaohed to

his own system, ancl.acquainted with all the epintitilaof
its operation, acknowledges that the proposed alteration
will not be productive of the injury so in* dreaded,
Of in fact of any injury at all. . _
•
This, however, is not the only subject on which the
voice of clamour has been raised too loud. We deplore
as much as any person can do, the recent convulsions
in the commercial woilde but we cannot but feel, not
only that they were in the first instance created by mad
speculation, and then fearfully increased by unnecessary
alarm, but we think, in some instances, the difficulties
have been exaggerated. In the instance of the Silk
Trade, there was some appearance of getting up a case;
and when Ministers were called upon to advance-a large
sum, five millions in Exchequer Bills, to relieve the com-
mercial world, they were certainly asked for more than
was necessary. This appears evident now that the Bank of
England has undertaken to lend three millions on goods
and personal security ; for it was stated by the Governor
of the Bank, a few days ago, that only a quarter of a
million had been called for I Now one of two things
are to be inferred from this—either that the assistance
required to aid the commercial world is not to anything
like'the extent stated, or that the merchants who need
•
it are unable to show that their embarrassments have
been produced by circumstances they could not controul.
In Scodand, too, there seems little need of the as-
sistance of the Bank of England ; indeed, the Merchants
there seem to have a feeling of pride which makes them'
refuse it ; for we are told that the Scotch Banks are
willing to advance all the money required on the same
security as is demanded by the Bank of England.
Had these cautious bankers stated this some time age,
'they might have prevented no inconsiderable portion of
distress in the mercantile world.
When facts like these are elicited, we cannot hot
rejoice at the firmness of Ministers in refusinglo concede
that to popular clamour which cannot 'be demanded
either in justice or sound policy. Their maxim seems
to be ts resolve not quick, but once resolved be strong,"
and we know no better rule, either in the affairs of
private or public life.

Accounts have been received from Singapore of a
hte date, bui they contain no news from the seat of war.

This forenoon we received the Allgentease Zeitung of
the '2lst inst. It contains an article from Mayence.
stating that the question of the Navigation of the Rhine,
which has been ten years under discussion, is likely to
be decided; the Austrian (and it is said the Russian)
Government also having declared that in the negoci-
ations, as well at Paris as at Vienna, the most perfect
freedom of the navigation was taken for granted, and
that by the benefit promised by the Congress was under.

THE EVFS4I Drd STAR!
• - LONDON. ,
! . -
TUE&DAY, MARCH-18. 1826.