The Express.
London, England, 1858-05-29 00:00:00

'o3} MAY 29, 1861:-

exclusively devoted to the matter ; and of the reme-
dial plans miggested, it may be truly said that their
name is legion. Qin* rote*, to asetentia. Many
of the schemes put Ibrward possess the disadvaatage
of being utterly visionary and impracticable ; and
even the more reasonable ones involve so many
drawbacks and difficulties, that the great financial
conferences which were held during several
weeks in Paris, comprising the most eminent
men in Franoe, and presided over by the
EMPEROR himself, have terminated without
any practical result. This is one cause of the ex-
treme discouragement which at present prevails in
Paris. So long ss the Bourse knew that the evils of
the existing situation engaged the immediate atten-
tion of the Government, and that measures of relief
were under daily dimension, a certain degree of
cheerfulness was maintained. An impression was
circulated that announcements of a nature likely to

give an entire change to the aspect of affairs might
be made any day ; and the financial world stood
agape, waiting with their months open for the
expected boon. The peculiarity of the affair was,
that persons who were the most misty in
their notions as to the nature of the anticipated
announcement were distinguished for the most san-
guine views of the results to be expected from it.
No wonder that the Bourse, after being worked up
to such a pitch of expectation, has been plunged into
the extreme of despondency upon learning that the
I anxiously watched conferences are over and fruit-
, less. The position of affairs has at length become
so grave that a unanimous cry to the Government
for relief is heard from financial circles, and is sup-
ported, with as much earnestness as it dares to em-
ploy, by the press. But the cry has at length a
definite object : it is pointed out that there is now a
real Railway Crisis in France, and that the only
way of bringing it to a termination, and preventing
wide-spread distress and a frightful depreciation of
property, is for the Government to accord a large
moisture of relief and even direct pecuniary support
to the railways. Much ability is displayed in the
way in which the arguments are marshalled and
pressed upon the attention of the Government. It
is urged that the discreditably low price at which
the French funds have long stood is solely attribut-
able to the depression and pecuniary embarrassments
of the railways. With much justice it is asked, how
can the Rentes be expected to command a more
satisfactory price so long as the bulk of the capital
eligible for investment is beiugconstantly swallowed
up in new issues of railway bonds, which, whilst
presenting ample security, can be bought to yield
one per cent. per annum more interest than the Renton,
even at the present depressed price of the latter P
The Government are warned that the Rent* is no
longer the barometer of the market, and that the
time has gone by when the fonds can stand high
amidst the depression of all other securities. The
prices of shares, it la-Argued, will henceforward re-
gulate the price of the Rented. Pursuing still
further this astute policy of taking ad-
vantage of the known anxiety of the Govern-
ment to keep up the funds, the applicants for
relief declare that the avalanche of new stock is so
enormous as to be utterly out of proportion to the
amount of disposable capital. Taking at once the
position of pleaders informd pouperie, they aver
that all ordinary combinations are impotent to
counteract the depressing effect of the never-ceasing
creation of new securities, and that the expected
assistance, to be effectual, must be liberal, and must
tow direct from the Executive. Lest all these argu-
ments should prove vain, a leading journal makes
the startling declaration that French railway pro- I
party, hitherto held in such high estimation,
is now entering upon a phase in which,
owing to the diminution of the receipts and the
increase in the charges, the profits will barely
suffice to pay the ordinary periodical " interest'
upon the capital invested, without leaving room for
the hope of anything further in the shape of
" dividend."

Leaving the Government to consider the probable
effect of such a state of things ripon the funds, and
declaring that the attempt of the Bank of France to
help the railways is altogether upon too limited
a scale, and too much clogged with condi-
tions, to be of real service, the petitioners
proosed to disclose their real object: the
Railway Companies must be assisted to form the
new branches and extensions lately conceded.
It is boldly alleged, on behalf of the Companies, that,
when they weeded to the desire of the Government
for the oompletion of the railway net-work, they
ware misled both w to the cost and probable returns
of the new works. In some quarters still higher
ground is taken ; the Companies are represented as
positively aggrieved, through the misrepresents&
time of the Government engineers and surveyors;
and it im even hinted, as delicately as is consistent with
prudence, that the superiors of these officers are not
free from the charge of oppressing the railways,
since they must have passed, without due examina-
tion, the erroneous estimates in question. The ease
on behalf of the railways is considered to be, at this
stage, complete; the Government is asked, in plain
terms, to increase the pecuniary "subvention" to its
jest proportion,and to allow the Companies altogether
to abandon certain proposed branches, which are
not coosidered likely to prove remunerative. If this
latter concession cannot be granted, it is asked that
the Departments and Communes shall be compelled
to furnish a special contribution towards their con-
struction. The next request is for a farther
delay in the execution of the works, and—a
point requiring very careful handling—for a revision
of the 000ditions imposed upon the Companies as
regards the postal service and the transport of troops
and military and naval stores.
English railway shareholders, who have so long
moaned over their misfortunes, and considered them-
selves the most luckless and oppressed class in the
country, may derive some instruction from this re-
capitulation. They will have no difficulty in recog-
nising the inevitable tendency of Railway
Boards to rush recklessly into projects for new
branches and extensions, without duly considering
the probable cost and revenue, and the mode in
which the requisite funds are to be raised. But
they will also perceive some points in which their
situation, depressed though it may be, contrasts
fivourably with that of French railway proprietors.
The conduct of the French Cabinet in this matter
will be anxiously watched. The Government is
extremely desirous to have the vast railway works
steadily carried on, because employment is thus found
for the thousands of workmen whose inactivity
might be dangwous to " order;" bat the demand
tee feud " subventions" for the railways is calcu-
lated materially to disturb the sanguine views re-
peatedly enunciated of late by the Milling* of
PINANG%

At a aiseting of firs insurance offices yesterday it
Irma datersised to imams the rate of meth= °barged ea
&atm pa da ea all or say et the dein k Itliatema hem
la ed. to Is. ltd. per ma. per emen, eel ea the wenn
vereboaese ham he. le he. N., the taorteiel rsie to be
&mod his sad she the lot ot hots eat.
CzYnaL Pardiae.—Orsaa COMM' DAY.—AD.
reeve! error Sr MIMI AND erararicsa.—Para:,
MAT 21.—Atimbeforis is pram; Ill; Mt* by MN.
Malik 2, rfahore, 1,376.

MUSIC AND THE DRAMA.

The encert of the New Philharmonic Society, at
St. Janewee Hall, on Monday, will be en extra Newt night.
Mir Louisa Prat will be the roadie', end Rubandeln the
pianist. Th. some afternoon Mho Dolby and Mr. Lamy
Soper will give their ascend conoert of chamber musk at
Wilik Booms.—On Tuesday Mr. Blagrovis fourth quartet
concert will tats plasm; sad at half-pmt two M. hloys
Kettesm's morning oxiont la to be given, at the Marquis of
Downehirs'a residence, Beigravrequene—the Friday the

.
Sacred Harmonic Society wM present Mr. Coshes oratiwio of
Eli at Exeter Halt, Miss Clem Novelle, Kies Dolby, Mr.
Sims Reeves, and M. Weise being the solo vocelietu—On
Saturday there is a grand conceit at St. James's HAIL in aid
of the centenary fund of the Asylum for Female °vim'.
Mdlle. Speyer gives her pianoforte mind at Wads Booms;
and the mute evening, at the some pleas, Miss Chattertan,
the harpist, has an availing coseart.
The

at Her Majesty's Theatre
for next seek present varied attraction. On Tuesday the
Ho e; Thursday, the Now di Figaro ; Behuday, the
Iherefore; and on Monday a morning performance, Dow
Otemsonsi. The new opera, Luisa Mille r is to be prodnont
on Tuesday, Bth Inns.

Yesterday morning the anneal concert of Mn.
Andante took place at her Majesty's Thee**, before a very
crowded and lioshionable andienos. The principal vocal
artiste, bend, and chorea were those of Mr. Lumley's mkt-
bliffihment, with the addition of our celebrated English
minors, Madame Clara Novelle. and Mims Louis. Ppm, the
itir.ljteiaire and her accomplished niece, Mrs. Jewson, as solo
pianists., and Herr Joachim ea solo violinist. The concert
commenced at half-past one o'clock, and did not terminate
until nearly six.

HAwr.—Mr. Bnekstone terminates his
mum about the 10th July, for the purpose of having his
theatre renovated for the winter osnapsign, whieh will nom-
mince at the end of September. In the interval, It is pro-
bable that Mr. Buckatono and has company will make a
"starring" excursion to the provinces.

Tnis ADELP/11.—Thi; programme selenni for
nen Wednesday, the wry laet peeforman•e in the present
theatre, will include dm appearance of many Adslphi
favourites, ecounancing with dm farce of Oar Pram& Lay's
Maid, In which the horse sod handeinn and Madame
Celeste perform. After whirl' the wand mot of Black Sped
Sams, with the retina T. P. Cooks as William, Mr.
Backstone ma Gasthrsia, and Min Elias Arden es enema.
Mr. Wright, Mt. Nal Baba, Kiss Wodgar, Kim Mary
Lesley, &c., will thin appear in an Adolph' drama; fol-
lowed with Our Bawd Bay, by Kr. and Mrs. Keeley.
Kr. Webster will duo addnie his patrons on his past
moors and fatare prawn.

THE OLYwetcl—ille subject of the new play, by
lir. Tom Taylor, undarlised for Mr. Robson's bentdt, on
the 6th of June next, is taken from Victor Hngo's well-
known drama. Le lei dense. It krms the plot of Verdes
opera of Begoldlto, end has been known to our stage for
many years by an lamotive mato-dramatic version called the
K..g'a Pool. Of mouse Mr. Robson will play the pert of the
serio-comic jester.

THE Paiscess's.—The company of the Penmen
are busily aimed in rehearing the next fibakeparlait re-
vival, the Merchant of Yen*, in which, according to green-
room report, will be exhibited reel gondolas and reel water.—
Ilhetrated now.