The Statesman.
London, England, 1824-02-16 00:00:00

Mattaniati#

MONDAY EVE NO, FEBRUARY 16, 1824.
STOCK EXCHANGII, TWILYZ OTLOCIL—CoesoIs opened
this morning at 91 ld, and soon after rose to U, with a good

deal doing.
The Expresses this morning have brought the French
Rentes at 99. 30. after 'Change, and Spanish at 271
FOREIGN FENDS.—A great deal of business has been
doing in the above market this morning, particelarltia the
South American Securities. •!':!r.:•-:- -
Owing to a report that a decree is in tom( from the
King of Spain, acknowledging the Independence of South
America on certain conditions, some fluctuations bare
taken place in Chili and Mexican Bonds.
New Spanish, IS —Old opened at 251, and was dose as
high ap26ll,,hut again fell to 25i—Colombian,23-11ussian,
94t —Mexican Loan, St to 9 —French Scrip, 11 ti—Nlexiran
Mines, Hullet,) grew.—Anglo Mexican Mines, Si to 9.

We have this morning received, by Express, the Etoile
of yesterday's date, and the Journal des Debate of Sam -
day, from which we estract the following :
Malmo, Feb. 3.—The following article, the Restau-
rador published on the 31st of January :
Our readers should be apprized more and more of the
mischievousness of our Revolutionists, and their attempts
to cause disorder. They use every foal means to
mccomplish their horrid wishes. We accordingly pub-
lish the following article from the Echo du Midi. In its
►ast number, it wishes us to believe, that there is a party
forming in Spain to dethrone Ferdinand 7th, and to give
the Crown to Infant Don Carlos.• The same Journal
states, that the Police of Madrid surrounded the convent
of Franciscans, wherein they found copies for a number of
Proclamations ; but we are assured that all this is false•
and has been invented by the Revolutionists.
Cam, Jars. 18.—Letters from Smyrna announce that
the Tnrkish squadron, which was coming to.the assistance
of Smyrna, has been surprised in the sea of Marmora by
a storm, and has been nearly destroyed. Five frigates
and 6 brigs have run aground tiff the coast.
(emu THa JOURNAL DCE DIBATS.)

Six sqnadrons of Curaisseurs have received orders to re-
inforce the Army of Occupation. For Cadiz tba 3dsquadzonl
of (Masseurs of the Meuse ; for Madrid the 4th iquatiton
of Cloasteurs ; for Burgos the 4tb squadron of Chasseurs ;
for Vittoria the 4th squadron. These six squadrons will
arrive at Bayonne on the Ist and 2il.
They write from Perpignan that 300 men have arrived
in that town of the 13th of the line returning from Spain.
On their route through Valencia, thew experienced in that
beautiful climate, a frost more seveae than any that has
been known in the memory of man.

The Etoile repe2tc the accounts previously known here
of the misunderstanol;ng between the Dry of Algiers and
the American Con‘ul ; and of the assistance rendered by
Lord ll}ron to the Greek range.

It is reported this morning in the city the a copy of a
Decree has been received in town from Madrid, by which
it appears that the King' of Spain has granted a free trade.
to Sou America, to England. Austria, Russia and
Prussia.
A pri►at! letter from Paris states, that it was reported
there that the Old Spanish Loan was in a fair way of being
recognised.

Low taxation and a small expenditure. are the best of all
possible proofs of the freedom and prosperity of a country
A high revenue, among its other evils, has a natural ten-
dency to draw around it a host of hungry, rapacious adven-
turers, regardless alike of principle or conscience, and
who, being scarcely alive to any feeling higher than mere
animal enjoyment, are wholly intent on contriving and se-
curing means to swell that fun." which administers to
their wants, and supplies their extravagance. To a great re-
venue, this devouring class of beings are as sure
to crowd, as the vultures are to flock to the field of the
slain, after a sanguinary battle. Public misfortunes are
nothing to them, for they suffer not from the general loss; and
as pensions, salaries, and emoluments, must he kept ap,the
increased pressure of public burden, which weighs the produc-
tive classes to the earth, can be felt in no other way by these
4dle drones, than by heightening their vanity, from the more
Striking contrast, which the suffering condition of the people
exhibit, when i Sewed with that of their own. This is one evil
inseparable from high revenue. But there is another not less to
be deplored, springing from the same source. Public men, by
dug largely from the distribution of high revenue, become
indifferent to duty. and insensible to honour. Hence,
without raking up the ashes of the dead, we may find
abundant living examples of persons, who, after having
long straggled in the cause of liberty, have, without
blushing, rushed into the arms of corruption, and brought
political spostacy into fashion. This also is a sore evil,
for which there is no other remedy than low revenue. But
there is another evil growing out of the same baneful root
io proportion as the revenue increases, the
power of the people over its expenditure, is in the
same proportion diminishes. Hence it is, that from
the omnipotent influence of revenue, the Com-
mons House of Parliament has lost almost all
controls' over the executive. Are these views of high
revenue the mere reveries of a romantic brain ? then look
at the following facts as a practical illustration of their
truth. America has a population of ten millions, spread
over a surface at least six times as large as the British
isles, enjoying all the blessings of rational free-
dom and good Government, at an expense of only
4,180,0001. per annum - about one tenth of the price
which England pays. for the same professed purposes.
With a revenue, amounting altogether only to 4,500,0001.
the United States are rapidly extinguishing their debt,
while the heavily taxed nations of Europe are annually
increasing the amount of their's. This is the language.
and these are the great truths to be found in the recent
exposition of the state of American finance, and which at,
this time will, we hope, re ad a seasonable lesson, sod
operate as a powerfel stimulus toexertion, with the friends
to ,iberty. retrenchment, soil economy in both Houses of
Parliament.