4 FEBRUARY 1832, Page 1

There is a great deal of chaffing, as the sporting

men call it, in the expedition, so long threatened and so long delayed, of Don PEDRO against his brother. Last week we left the ex-Emperor shaking hands with Louis PHILIP on setting out for Belleisle; this week we find him tarrying at Nantes (a very comfortable gite for a wandering monarch), for the raising of the waters—(query, for the raising of the wind ?)—in order to his conveyance thither. 'When he has got to Belleisle, it seems, he is to return to Paris, because there is in general bad weather on the coast of Portugal in the month of February. We know not whether all this mysti- fication and apparent irresolution be meant to lull Don MIGUEL, or whether it arise out of the knowledge that in Portugal Don PEDRO'S friends are not so numerous or so powerful as honest men would wish them.

Don MIGUEL has, it is said, 40,000 soldiers, of whom one-half are of the line—of the cord, if . they and their master had their deserts. The little Prince has raised 57,000/. by a forced loan. What a beautiful picture of the Conservative system ! Why, in this country of disorderly freedom, Mr. BARING would discount a bill for six times the amount, as easily as take a pinch of snuff.