The Sun.
London, England, 1855-05-05 00:00:00

LONDON, SATURDAY, MAY 5, 1855.

We are still truckling to Germanism. The star
of Austria remains in the ascendant. Who could
listen to the pompous platitudes of Lord PALMER-
sToN last night without indignant disgust at the
conduct of the Government, and without shame
for the disgrace which it is calculated to bring on
the British name. There was a time when it
might truly be said of the Premier, that "he
VMS not the Minister of Russia, the Minister of
Prussia, or the Minister of Austria, but the
Minister of England." There was a time when.
the cheers with which the House of Commons re-
ceived the statement would find an echo in every
British heart. Need we ask how such an asser-
tion would now be received, or describe the nature
of the derisive and ironical cheers with which it
would be greeted ? If Lord PALMERSTON be
not the Minister of Austria, he acts as if he
were so ; and if he owed allegiance to FRANCIS
JOSEPH, he could not display more profound defer-
ence, more abject subservience than at present. He
has, indeed, completely verified his declaration,
that he would pursue the course followed by
Lord ABERDEEN. There has been a trifling change
of men—but not of measures. The same policy
which occasioned the War is still perceptible, and
should Parliament continue apathetic and indif-
ferent, will prolong the contest and materially
aggravate the evils inseparable therefrom.
Lord PALMERSTON -wishes " to leave the ques-
tion in the state in which it is." He desires " to
leave the door of negotiation open." This was
the stereotyped answer of his predecessor to every
demand for information—every remonstrance at
the undue credulity of the Government. The
nation was sick of hearing from the travelled
Thane the propriety of exhausting all the means
of preserving peace before it engaged in
war There is every probability that it will
be equally disgusted at the repetitions usque ad
nauseant of his successor, that he will not be the
party " to shut the door to the possibility of con-
cluding an honourable and satisfactory peace !"
" An honourable and satisfactory peace !"
Where is there now the prospect of such a result
save from the valour and prowess of the Allied
troops in the Crimea ? It is not by negotiations
that it can be obtained. France and England
have already been too much bamboozled by their
deceitful colleague. They have had too many
examples of the profound contempt of Russia for
any obligations or pledges, however sacred, and
of the pettifogging and despicable duplicity of
Austria to be further misled. If they wilfully close
their eyes to the real state of affairs they will be-
come accessories to the fraud at which they connive.
They have witnessed the contumelious rejection
by Russia of the terms which, with the assent of
Austria, they proposed for acceptance. These
terms, we repeat, would not have been deemed
satisfactory by the nation if a Treaty had been
unfortunately concluded in accordance therewith.
No peace concluded on such a foundation would
have been honourable or permanent. It would be
justly regarded as a temporary armistice, to be
violated by Russia on the first favourable oppor-
tunity. And now the Prime Minister of England
Justifies the delay in the production of the proto-
cols, which he promised on Monday last, on the
ground that he " wishes to leave the door of ne-
gotiation °Pen 1„
It is i inPcsuilsiethatt he can now be deceived.
No man, or body
geuce, could be ,0 Ishmel; of ordinary intern-
ru-s._ighted. The Minis-
ters of England are
is some sinister infition_e"n. g dupes. There
u operation that
induces them to forget the duty t
country, and widely open isa:tYalOawbaeeyeitoooe wfptlhhihieoceir
Austria may slip out of the perfor
rm
Trashes
solemn obligations. Yes, it is to leave
le
for Austria to escape that the farce or negotia-
tion is still maintained, although the Conferenee,,
have been adjourned sine die, and the French and
English Plenipotentiaries have returned to theirre-
sPective homes. Austria has proved faithless, as
we always anticipated she would do, when the
amergelleY came. By conniving at her treachery,
our Government became participators in the
treason.
for breaking ever there was just and proper cause
negotiations, it has arisen in the
present instance, We must then act vigorously
and decidedly. Both branches of the Legislature
must assert their own dignity,
and insist on the full
information to which they
are justly entitled, but
which will not be supplied so long as there is a

possibility of withholding it. Lord ABBRDEEN
was driven from office at the almost unanimous
desire of the nation. As a double portion of
his spirit appears to have descended to Lord
PALMERSTON, as the expectations of the nation
with respect to that Noble Lord have been so
frequently disappointed, he must meet with simi-
lar treatment. The like conduct demands the
like punishment. If the Red-tapists will not act,
we must find men who will undertake the duties
which they have neglected, and will look to the
honour and interests of Great Britain rather
than to the dictates of a petty German Princi-
pality.

The old proverb says that " the bird which
can sing, and won't sing, must be made to sing."
The terms may be considerably extended, and
made applicable to every obligation which any
man or body of men, any individual or nation
may, if he or they think proper, discharge ; but
which, not from disability, but sheer roguery,
they are unwilling to do. It should at present
be seriously pondered over at the Foreign-office,
and energetic measures adopted to obtain justice
for the defrauded creditors of some practically re-
pudiating States. There was a time when it was
Lord PALMERSTON'S boast that he would cause
the name of Great Britain to be respected as
highly as was that of Rome in days of yore ;
that the Englishman would find the enunciation
of his citizenship as effectual a protection for his
person and property as that of the ancient
Roman, and that it would entitle him to justice,
not only at home, but abroad, from every-people,
and in every clime.
This salutary principle, however, appears to
be totally disregarded so far as the English
holders of foreign securities are concerned. It is
almost needless to say, that in the strictures
which we may deem it our duty to put forward
we do not in any way allude to nations who have
made bond fide efforts to keep faith with creditors,
and to the best and utmost of their abilities have
endeavoured to meet their liabilities fairly and
honestly ; or, if unable to satisfy every claim,
have yet taxed their resources to the uttermost,
and rateably divided the available assets among
the claimants. It is only against those who, dis-
regarding alike the dictates of honour and
honesty, set their creditors at defiance, and too
frequently add insult to injury, heaping abuse
and contumely on those whom they have scan-
dalously swindled—we use the term advisedly
and deliberately—of their property, against all
such unconscientious spoliators we invoke the
aid of the Foreign Office. All that would be re-
quired would be a clear and unequivocal expres-
sion of a determination on the part of the British
Government, to enforce justice to its defrauded
citizens. Even " a hint in tender cases " would
be enough. We should then see some efforts
made to satisfy our fellow-citizens in some more
acceptable way than by heaping vituperation and
contumely on their heads, and repaying the coin
obtained by gross abuse against the beguiled
lenders.

At present we would especially direct attention
to the Buenos Ayres Loan of 1824. Mr. GIRO,
the accredited agent and representative of the
English Bondholders, has, it appears, given mortal
offence to the local authorities by the suggestion
that " the loan being contracted at a very high
price, every principle of justice, sound policy, and
honour (!), make it incumbent on the Buenos
Ayres Government to settle the question, espe-
cially after a delay of nearly thirty years." To
enforce and give validity to this proposition he
published the terms of one of these bonds in ex-
tenso. This has rendered the defaulters furious.
They lavish abuse not only on GIRO, who has
been guilty of telling the truth, but on his clients,
the victims of their own dishonesty, asserting
that " the Jew usurers of London get 2 per cent.
now on their money ;" that is to say, on what
they have expected to have beem the money actually
advanced, which they declare to have been only
70 per cent., aid not 85 per cent, as stated.
Now, on this point it is scarcely necessary to
raise an argument. Whatever was actually ad-
vanced, whether 70 or 85 per cent., it was, as it
turns out, far too high a price for what the &sped
creditors obtained in return ; for no less than
26 years payment was suspended, and the arrears
of interest to no less than 1,750,0001. on bonds
for 1,000,0001., or 175 per cent. on the original
debt. According to their own admission, they
actually received into the Treasury 700,0001., in
proof whereof they produce a letter from Messrs.
BARING, the agents of the Republic. But if that
was all they received, the parties employed and
authorised by themselves, and for whose acts
they were unquestionably responsible, received
850,0001., and if they pocketed or abstracted so
large a sum as 150,0001. in transitu, their prin-
cipals must themselves sustain the loss, and not
the bondholders, who were not bound, and could
not possibly look to the application of the funds
which they, we regret to say, so improvidently
supplied.

The creditors paid the stipulated price, which
was far higher than that at which a large propor-
tion of the National Debt of Great Britain was
contracted. They received the Bonds in ex-
change, in accordance with the agreement entered
into. No pretence was then or is even now made
that they retained any portion of the money in
their own hands ; and it is really too bad, at the
end of neatly thirty-one years, and with such
enormous arrears of interest still due and owing,
to question the consideration given, or talk as
if " the Jew usurers of London " should be
well off at now receiving 2 per cent., not on the
sum they advanced, but on what found its way
into the treasury of Buenos Ayres !
What renders the fraud worse--for we shall
not mince matters, but call things by their right
names—is that they have made distinctions
in favour of the domestic debt, paying their own
citizens, while they are swindling and vituperating
the English creditors. This is surely sufficient
not merely to warrant, but imperatively demand
the intervention of Lord CLARENDON, and to in-
duce him to adopt measures which will render jus-
tice to the much-wronged bondholders, and teach
a salutary lesson to all nations inclined to deviate
from the paths of rectitude, and to save their
pockets at the expense of their characters for
honour and integrity,

AUSTRIA'S PROPOSALS FOR PEACE.

Tile Court of Vienna has submitted to the
Ames the course which it recommends for con-

Chiding peace.

It adopts, as a basis, the counter propositions
of Russia, with the addition that two frigates of
the Western Powers should be allowed to cruise
in the Black Sea.

The rejection of this proposition by the Allies,
though not offered as an
uon b ultimatum, will be looked
py Austria as a conclusion of its engage-
ments under the treaty of December.
It is said that the Austrian scheme has been
received with much favour at Paris.--Press of
to-day.

THE SUN, LONDON, SATURDAY EVENING, MAY 5, 1855.

LATEST NEWS.

SUCCESSFUL ENGAGEMENT
BEFORE SEBASTOPOL.

WAR DEPARTMENT, May 4, 7 P.M.

Lord Panmure presents his compliments to the
Editor of The Sun, and has great pleasure in trans-
mitting the enclosed intelligence.

" A sharp engagement took place on the night
of the Ist of May in front and left attack. The
whole of .the Russian rifle pits were taken, 8 light
mortars, and 200 prisoners. The whole glair
was brilliant for the Allies."

BEFORE SEBASTOPOL, FRIDAY MORNING,

AIRY 4.

On the night of Wednesday last, May 2, the
French under General Pelissier having taken up
a position before the Quarantine Bastion, ad-
vanced briskly upon the Bastion No. 4, attacked
the advanced works which the Russians had
raised to protect that Bastion, and carried them
at the point of the bayonet.

In this attack the French took twelve mortars
from the enemy. The Engineers immediately
occupied the ground, and began to carry on a
flying sap. At daybreak they had succeeded in
establishing themselves in the conquered works.
Last night (Thursday) the Russians made a
general sortie, with the object of retaking the lost
ground. After a sanguinary combat they were
driven back into the place.

Our losses have been great, but bear no, prc-
portion to those of the enemy, nor to the advan-
tages gained.
This (Friday) morning the Russians have
neither a man nor a gun outside the regular en-
closure of the place.—Daily News.

We (Times) have received the following tele-
graphic despatches from our Constantinople cor-
respondent, via Vienna :
" CONSTANTINOPLE, MAY 2.
" Lord Stratford de Redcliffe has returned to

Constantinople.
" Mehemet Ali is recalled from. exile.
" Canrobert speaks to his troops of immediate

operations.
" Orders have been received to prepare trans-
ports."

"VARNA, MAY 3.

" A sharp engagement took place on the left
attack before Sebastopol on the night of the Ist

of May.
" All the Russian rifle pits have been taken
and 200 prisoners."

PARIS, SATURDAY, MAY 5, 7.30 A.M.

The Moniteur contains the following :

The Minister of War has received the follow-
ing telegraphic despatches from General Canro-
ber t

BEFORE SEBASTOP OL, MAY 2.

We had a successful affair last night. The ene-
my had strongly conpected his works, and with
lodgements in front of the Central Bastion
was a work of counter-approach with a double
enciente and very solid. We srtormed it, and
maintained ourselves there under a very heavy
fire, and have definitively established ourselves
there. We took from the enemy e ight small port-
able mortars which were inside.

Exact returns of our loss are not made up, but
they are below what I had feared.

FRANCE.

PARIS, FRIDAY.

The enemy suffered considerably.
The intrepidity of the troops •was admirable.
BEFORE SEBASTOPOL, MAY 3.

The Patric of this evening has the following :
" There is a report current to-day that on the
2d of May the besiegers took possession of some
very important Russian works of counter-approach;
after a fierce engagement.

Yesterday, at 4 p.m., the emnmy made a sortie
to attempt to retake the work of counter-approach
which we had taken from hint on the preceding
night. The troops of the Gurde attacked the
Russians at the point of the bayot let, routed them,
and drove them back into the town.

The enemy's artillery protecto d the departure
and the retreat of the sortie by a very violent
cannonade, to which our batterbes replied well.

" On the folio-wing day, the 3d of May, the
Russians are reported to have attempted to retake
the positions, which remain in the hands of the
Allies."

PARIS, SATIT.RDAY, MAY 5.

An Imperial decree appoint El M. Thouvenal
French Ambassador to the Subli rae Porte, and M.
Benedetti, actually at Constanftinople, Minister
Plenipotentiary to Persia.

The Moniteur announces the reception by the
Emperor of °omit de Hatzfeldt, the Prussian En-
voy, and of Baron de Hubner, the Austrian En-
voy, who presented autograph letters from their
respective Sovereigns relative to the recent attempt
upon the life of his Majesty.
M. de Hubner also presented to the Emperor a
reply from his Goveinment touching the mission
of M. Droyn de l'Huys to Vienna.
The Journal des Debats publishes the following
telegraphic despatches :

We have received the following telegraphic de-
spatch front our correspondent at Marseilles :
MARSEILLES, SATURDAY MORNING.

Advices from Constantinople of the 23d, via Trieste,
announce the arrival on that day at the Golden Horn of
the Costituzione with the personnel and inaterisl of the
sanitary department of the Sardinian expeditionary
force and the officers of the engineering staff.
" A few cases of cholera had occurred at Maslak.

The Sinai, which left Constsoatinople on the
26th, has arrived. Her despatches have been
forwarded by the train at 9 o'clock this morning,

" Erzeroum was being fortified. Colonel Walpole
arrived on the 12th at Damascus with Ottoman recruits
destined to serve under English officers. A number of
vlunteers had offered to serve under him. _

" It is said the mission of MM. Murray and Bourrde
to the Persian Government is a failure. There was a
movement of troops on the Persian frontier. Bajazid is
reported to be in the hands of the Russians."

According to advices from Ralaklava, of the
night of the 23d, a reconuoisance. was to be made
the day after in force, in order to ascertain the
amount of Russian forces on th,e Belbek and at
Baidar, and also to occupy a \ position near
Tchorgun.
According to advices from Klamiesch, of the
24th, the bombardment was suspended on the
night of the 21st.

BOURSE, MAY 4.—CLOSING PRICES.
Cash, fr. c. End of Month.
4i per Cents 94 —f. —c.
3 per Cents 6B 90 69
Credit Mobilier 786 25 Roman
Credit Foncier — Austrian
Belgian Fives ...... .. Spanish Threes —
Piedmontese B5 50 Homo Debt —

On the 22d and 23d there wexe sorties, which
were repulsed.

Omer Pasha had returned to Idupatoria, which
it was said was menaced by the R ussians.

We (Times) have received the: following tele-
graphic despatch
pon dent : from our Vienna corres-

VIENNA, SATURDAY,
MA.711 5, 10 A.M..

Advices from Constantinople of the 3d inst.
state that Mehemet Ali Pasha, laving been re-
called from exile, Redschid Pasha has resigned.

Ali Pasha, now at Vienna, is oppointed Grand
Vizier in his stead ; a substitute has been ap-
pointed, to act for him ad inteirim at Constan-
tinople.

VIENNA, SATURDAY.
The terms proposed by Austria for the accept-
ance of Russia are not satisfactc&ry, but Austria
is likely to act on the offensive if they are not
accepted.

If the Western Powers agree 'to them Russia
will hardly do so.

THE BALTIC FLEET.
BERLIN, SATUR RAY, MAY 5.

Admiral Dundas, with 13 sere nir ships-of-the-
line, five steam frigates, and two Fit ;ei-tin gun-boats,
left Kiel harbour on the morning or -.the 3d inst.