Virginia Argus

London, July 17.

French papers received since our last, contain a report from Champagny, duke of Cadore, the French minister of foreign affairs upon the abdication of the Crown of Holland by Louis Bonaparte. "Such an act, sire", says M. Champagny, "ought not to have appeared without a previous concert with your majesty. It can have no force without your approbation.-- Ought your majesty to confirm this disposition taken by the king of Holland?" This question is made the introduction to a detailed statement, impressing the advantages and necessity of the incorporation of Holland with France. The Dutch nation was, it is said, burdened with a debt and taxes beyond all due proportion; the incorporation is to cure all this. At the end of the present year the French and Dutch taxes are to be put upon the same footing: but in the mean time the interest of a great part of the Dutch debt is reduced to one third of its present rate. This is, in fact, a seizure of two thirds of the property of the public creditors affected by it, and in a country where the public debt constitutes a great part of the property of the people, will of course be a relief by means of absolute ruin. Again, it is said that the freedom of commerce is checked by the separation of the sovereignty of the mouths of the great rivers of the French empire, from that of their course, and by the barriers and the lines of custom houses and custom duties on the frontiers, etc. All these evils are to be remedied: the Dutch people are to be enriched in point of capital; relieved in point of taxes; regenerated in point of industry and trade; restored to their pristine naval power and glory by being merged in the French empire--and, by being enslaved themselves, their ports and arsenals, ships, seamen, and naval stations are to minister to the deliverance of Europe & the rescue of the seas from the tyranny of Britain! The Dutch people understand this language well. The event that has happened has been for some time looked forward to as the climax of their misery--the utmost limits of their powers of endurance. It appears as if another Alva was come among them to rouse invincible resistance, by oppressions intolerable to human patience. The few lines we have extracted are the only allusions this report makes to Louis Bonaparte. The child, Napoleon Louis in whose name the kingdom was abdicated, is treated with as little ceremony = "he is already sufficiently provided for by being named grand duke of Berg." It must be avowed, that if Napoleon has evinced unexampled munificence and paternal affection, in giving kingdoms to his brothers, he also shews a most extraordinary facility in taking them away. The Decree enacting the incorporation follows the report.

July 18. --Five houses in the Manchester trade stopped payment on Monday in the city to the amt. it is said, of more than a million.