Virginia Argus

It is perfectly recollected, that a sequestration of British debts is forbidden by the last of the ten perpetual articles of the British treaty. But it is supposed to be constitutional for congress in certain cases to declare any treaty null and void, as in the case of the French treaty. Whether the capture of our vessels, condemnation of our property and impressment of our seamen amount to violations, on the part of the British, of that treaty, in letter or spirit, let others determine. No doubt is entertained in our mind, that a perseverance in the conduct lately adopted by the English towards the Americans will inevitably and as speedily as possible for our government to act, produce a change in the state of affairs between the two countries.

The following extract of a letter from one of the first mercantile houses in Europe, is dated London, Aug. 29, and will be read with attention by our mercantile friends. -N. Y. Gaz.

"We have been in hopes of being able to give our friends in America some explanation of the grounds of the detention of American vessels bound to the ports of the continent, that they may govern themselves accordingly—In speculating on what has yet transpired we should be as likely to mislead as assist them, and we shall therefore principally confine ourselves to a statement of facts.

Our courts maintain the principles that a neutral may not trade directly between the colonies and mother country of our enemies, and as a necessary consequence of that principle it has been decided that merely stopping at their own ports to change the ship's papers and afterwards to proceed to Europe is equally as illegal as a direct voyage: the landing the cargo and paying the duties were considered by our court of admiralty as terminating the first voyage, but this doctrine has been reversed by a decision of a higher court, and a new principle is thereby introduced of tracing a continuity of the voyage

The former plain and intelligible line being abandoned, it is difficult to say where the new one can be drawn, and almost every American cargo coming to Europe being more or less exposed by this uncertainty has induced our cruizers to bring them in and not as, has been erroneously supposed by any general order for the purpose—some of the vessels are already released, others are still detained, but from the distinction made no inference of any general principle can yet be drawn; but as we understand the whole of this very interesting question is now under discussion with your minister at our court, we hope a short time will clear all doubts so as to enable the American merchants to proceed on certain grounds—and we hope before this reaches you there may be information in America of the settlement of this unpleasant business, and which we are the more induced to expect, as we are well assured the late measures have not arisen from any disposition in any degree hostile to America."