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LONDON:
PRINTED FOR BALDWIN, CRADOCK, AND JOY;

C. AND J. RIVINGTON;

J. CUTHELL; LONGMAN, REES, ORME, AND CO.; E. JEFFERY, AND SON;

J. BOOKER; HARDING, AND LEPARD; SHERWOOD, GILBERT, AND PIPER ;
WHITMORE, AND FENN; HAMILTON, ADAMS, AND CO.; G. B. WHITTAKER;
W. REYNOLDS; SIMPKIN, AND MARSHALL; HURST, ROBINSON, AND CO.;
AND J. COLLINGWOOD.

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PRE FACE.

THOUGH the year 1825 presents many events of historical importance, no marked change has taken place in the current of political events. Political combinations remain as they were; save only that, in the natural progress of the course which England has pursued, her connections with the South American states have acquired increased strength and a more decided character. The cause of Greek independence still hangs poised in the balance; and the surmises to which the death of the emperor of Russia gave rise, though they have not entirely subsided, have not as yet ripened into hopes or fears.

A remarkable feature in the annals of this year, is the change, which, towards its close, took place in the money market, and in the state of commercial credit and manufacturing activity throughout Europe, but more especially in England That change is a new aspect of those arrangements and

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