The Sun.
London, England, 1855-07-17 00:00:00

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San-office, 112, Strand, London,
9th July, 1855.

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TM.

LONDON, TUESDAY, JULY 17, 1855.

The scapegoat has been accepted—the victim
offered up—the sacrifice completed in every par-
ticular. The undetectel members of the Cabinet
revel in conscious security, in the undoubting an-
ticipation that, the present session being tided
over, the shoals and quicksands escaped, they
have six months of uninterrupted power, during
which they can do
just as they like, undisturbed
by Parliamentary control or remonstrance. It is
true that they are still to be once more arraigned
at the bar of " legislatorial," not " public,"
opinion—that the prosecutor is fully qualified for
the task, and of unimpeachable integrity ; but
they well know that the jury is packed, and that
many professional " boot-eaters" on the panel
prevent the possibility of a
hostile ver-
dict. They are hissed, but they continue in
office—receive stringent castigation, but retain
" power, patronage, and pay"—to strut bravely
under the storm of popular indignation, which
would crush persons less accustomed to censure.
Like the veteran occupant of the pillory in "the
good old times" they were quite prepared to be
pelted with rotten eggs and the most unsavoury
compounds, provided the spectators refrained from
missiles of a more dancierous character that might
possibly terminate the official existence so highly
prized—that while it continued all other things
were tolerable.

The victim last night chaunted. his " political
death-song" with a stoicism worthy of a North
American Indian. He attempted to justify his
inconsistency and vacillation by arguments
picked up in the new school in which,
unfortunately for his own reputation, he
became a scholar late in life. ,He did not,
however, in any
degree improve his own posi-
tion or that of his colleagues. On the contrary,
his convulsive struggles only buried him deeper
in the mire, and involved him inextricably iu
" the slough of despond." He mystified nobody
but one, and that one was himself. The German
school of diplomacy, into which lie so recklessly
plunged, was too much for his intellect. He was
thoroughly bamboozled by his wily opponents,
and seemed to be utterly incapable of distinguish-
ing between right and wrong. At the close of
his defence we really pitied him. There is -no
doubt that he had rendered the State good ser-

vice in his day—that he was once the wigorous
and energetic champion 'of much-required reforms.
The senile twaddling of one who ho.d once
commanded the attention of an admiring Senate
occasioned melancholy reflections ; a) ad there
would have been deep pathos in his al fusion to
those feeble friends who owed their positions to
his patronage and influence had it not been for
the asperity with which it was mir tgled. It
would have been far better had he avoi, cled speak-
ing of the contempt which he felt for the time-
servers. Still, every allowance must bo made for
' the natural irritation of the man—

" Deserted at his utmost need ,

By those his former bounty fed,"
and as yet unconscious of the decade: ace of the
qualities that previously commanded their sup-
port. The Archbishop cf Toledo did ri tot receive
in good part the well-meant hint of ( 411, BLAB.
He thought the composition that pi •evoked the
unwelcome criticism one of the me ►st eloquent
and able in every respect he had ever
framed. So Lord JOHN considered his
dodging at Vienna, and since lAs return,
peculiarly clever, and was therefore doubly irri-
tated with poor " GIL BOUVERIE," who undertook
the invidious task of telling unwelcorn e truths—
and showing how different was the opinion enter-
tained by the community from that which the
ex-Plenipotentiary hugged himself in r etaining.

We confess that we cannot recoil cile to our-
selves the withdrawal of the motion, 'without the
views and sentiments of Sir G. GE EY, Sir C.
LEWIS, and Sir C. WOOD having previously been
elicited. Right or wrong, there is a very general
impression abroad that these Right "Honourable
Barts. are intent on obtaining peace a,t any price
—and that they fully concurred with, Lord JOHN
RUSSELL in urging the specious and obnoxious
principle of " counterpoise" on the, Cabinet.
Through the course adopted by the Opposi-
tion, they have, for the presen% escaped.
But Mr. ROEBUCK wants "to know tb.e traitors
in the Cabinet ;" and we fancy that he will make
a determined effort to lift the flimsy veil with
which these Right Honourable Gentlfmen have
thought proper to disguise their opinions. The
Home Secretary declined to answer the interro-
gatory pointedly addressed to him ; but we hope
and believe that it will be repeated this evening
in terms that will compel the parties expressly
named to respond fully and completely. The
country demands it ; and, however their refusal
may pass current within the walls of Parliament,
they may rest assured that it will not improve
their position with the country.
This evening Mr. ROEBUCK will bring forward
his motion ! A touchstone will be supplied to
test the sterling character of the professions of
Honourable Gentlemen, a matter that will be
particularly useful when the appeal to the coun-
try, which cannot long be deferred, at length
arrives, and they are called upon to render the
accounts of their respective stewardships, and to
ask a renewal of confidence from their consti-
tuents.

Notwithstanding the energetic and efficient I
exertions of the Committee of South American
Bondholders nothing satisfactory has yet been
cancluded in reference to Buenos Ayres Bonds, or
to render to the aggrieved bondholders the satis-
faction which their fraudulent debtors can, if they
think proper, easily afford. If, as we sometime
since stated, the Republic was still involved in
difficulties so great that it could not meet its just
liabilities, every indulgence would be accorded by
those whose confidence in its solvency and integ-
rity was so great, that they paid the high price
of 35 per cent. for the all but repudiated bonds.
But such is not the case. It is not the ability,
but the will that is wanting. The money
has been had and expended, and the recipients
now find it more convenient to make futile pro-
positions of compromise than to make an honour-
able and manly effort to redeem the character
already seriously compromised.
This disgraceful conduct, of course, excites the
indignation as well as the disgust of every fair-
dealing man of business in any degree connected
with the affair. If Buenos Ayres is to become
bankrupt, its assets should be honestly surrend-
ered and equitably divided amongst its bona
fide creditors. But it will not do to show the
means of payment—to boast of a surplus revenue,
and then to require those who have patiently
waited for thirty-one years not only to relin-
quish a considerable portion of their just
demands, but to let all interest even
on the original debt entirely terminate, and to
accept, in payment of the principle, sums that
would about meet the accruing interest, without
any provision for the enormous arrears, far ex-
ceeding in amount the first liability. This, w©
say, will not do. It may appear very smart to
the transatlantic repudiators, but it will lie re-
garded iu this country, and by every right-
minded and honourable man all over the world,
as equivalent to a national act of bankruptcy ; or,
still worse, of repudiation—from which the
Republic can never by any possibility re-
cover, even though permitted by the Eng-
lish Government to continue its discreditable
course. The representatives of the Province
of Buenos Ayres may rest assured that, amongst
states as among private individuals, " honesty is
the best policy," and that those who collectively
struggle hard to maintain their integrity will, in
the long run, be far better off, and in the enjoy-
ment not only of credit and consideration, but of
greater national wealth than their neighbours,
are seduced into the flowery but deceptive paths
of repudiation.

The example of the neighbouring State of Chili
might lead the authorities of Buenos Ayres into a
better course. For a time the Chilian Govern-
ment was unable to meet the claims made on it,
but it did not therefore relinquish the task. The
arrears of interest were converted into a
Three per Cent. Stock, on which interest
was punctually paid, as well as 6 per cent. on
the original loan. Nor was this all : a consider-
able sum was annually transmitted as a sinking
fund to provide for the gradual liquidation of the
whole. What has been the result ? Chili is
looked on with regard and respect. Its credit
stands deservedly high. The Chilian 6 per Cents.
were yesterday quoted on the Stock Exchange
103, while the 3 per Cents. are about 68 to 70.
Thus for the Chilian liability of 1001., for which
we believe only 70 was originally paid, with 14
years' arrears, are worth 172 ; while that of Buenos
Ayres, for which 85 was given, only fetches, with
31 years' arrears of interest, about 60, or little
more than one-third of the amount.
this picture and on that, the coun-
terfeit oporl on
ecsentment of two brothers."
Let the men of Buenos Ayres consider the in-
vidious light in which they must be regarded dur-
ing the existence of such a state of affairs, and for
very shame's sake they must make an effort at

improvement.
It is said that the Minister of Finance, Senor
DE LA RIESTRA, is a man of ability, and, what is
far more important, of integrity—that he has been
taught in an English school, having been for soine
time partner in an eminent mercantile firm. It
is needless to say that, under such circum"

stances, he must be well disposed towards the
bondholders. He is, however, hampered
by certain colleagues, who have not as
sound financial views, and who have as yet too
strong support in the House of Representatives to
be overruled. But let the bondholders only stand
firm, and they may rest assured that " there Is a
good time coming," in which their just claims
must be fairly met. Buenos Ayres has the means
—she must show the will. There is a healthier
state of public opinion arising in South America,
and when she has seen what Chili has done she
cannot remain insensible. There is also the by
no means improbable intervention of the British
Government, and that at no distant day, in favour
of its defrauded subjects. A remonstrance from Lord
CLARENDON, conveyed through a few ships of war,
will speedily produce better results than those
now demanded, although the matter has been
done with a bad grace, and when repudiation is
no longer possible, will not retrieve the damaged
reputations of those who were dishonest so long
as it was possible, and would still continue to do
so if they dared. We hope that they will not
await so stringent a notice of their misconduct,
but strive to regain their characters while there is
yet time, and before the "light cloud" has passed
away, and carried with it the sole remaining hope
I of Buenos Ayres.

In another part of to-day's impression will be
found a Report of the proceedings at the First
Annual Meeting of the Times Fire Assurance
Company, to which we feel justified in drawing
attention. The company, as will be seen, have
granted 6,395 new policies during its first year
of operations, of which 2,629 are for fire and
3,766 for plate glass. The last description of
policy is evidently growing more and more popu-
Ilar, and promises to form a very important part
of the business of this company.

LONDON AND SOUTH-WESTERN RAIL-
WAY-ADJOURNED MEETING.
(THIS DAY.)

The adjourned special general meeting,was held this
day, W. J. Chaplin, Esq., M.P., in the chair.
In the absence of the Secretary, Mr. Macaulay read
the notice of the adjournment from the 13th inst.
The CHAIRMAN then announced the result of the polls
taken upon the two resolutions and two amendments,
which were :—For the Chairman's Resolutions, 504
voters, 1,922,286/. capital; for the Amendments, 101
voters, 269,8581. capital.

. . _
After some slight discussion on the subject generally,
the meeting separated.

COMMITTEE ON TEE CITY OF LONDON

WRIT.

Yesterday morning the committee assembled for the
purpose of hearing Baron Rothschild by counsel. Mr.
Walpole presided, and there were also present the At-
torney and Solicitor• General, Lord Seymonr, Mr. Fresh-
field, Lord Hotham, Mr. Disraeli, Mr. T. Dunoombe,
and the Lord Advocate.

Mr. Bramwell, who, with Mr. Honyman, ap-
peared for Baron Rothschild, volunteered every infor-
mation on the part of the Baron, but at the same time
expressed an opinion that the evidence already taken
before the committee was complete, and that the ques-
tion was•ripe for decision.
The Chairman—ls there any other evidence that you
wish to bring before the committee ?
Mr. Bramwell replied that he couli not at present
suggest any other materials. There were two points to
which he would direct the attention of the committee.
First, whether there was any contract at all ; and, as-
suming that there was a contract, whether it came with.
in the meaning of the act of Parliament which dealt with
such matters. He submitted, with very considerable
confidence, that in this case there was no contract. He
contended, moreover, that the burden of proof was with
these who said there was a contract, and not with those who
denied it. The learned counsel having detailed the facts
connected with the loan, and critically examined the act
of Parliament authorising it, proceeded to say that no
contract had been entered into, but merely a provisional
agreement, and that no one was bound in any way to
the baron in virtue of that agreement. If Baron Roths-
child died the Lords Commissioners of the Treasury
could not come down .uport his executors for a fulfil-
ment of the agreement; nor were the Lords Commis-
suners themselves responsible.
The arguments of counsel, which were of an abstruse
character, occupied the whole of the sitting.

EXAMINATION FOR THE INDIAN CIVIL
SERVICE.

Yesterday morning the examination of candidates for
civil service in India took place at King's College, when
113 candidates presented themselves. The following are
the subjects of examination, with the names of the ex-
aminers :

English Literature, &c.—The Right Hon. Sir James
Stephen, K.C.8., LL.D., professor of modern history,
Cambridge ; the Rev. F. Temple, /ILA., principal of
Kneller

Classicll.—The Rev. G. Rawlinson, M.A., Exeter
College, Oxford ' • the Rev. R. Congreve, M.A., Wad-
ham College, Oxford.
French.—M. Baron, (lector of the University of
France and member of the University of Belgium ; M.
de Vericour, professor of modern languages, Qreen's
College, Cork.
Italian.—Mr. A. Panizzi, British Museum.
German.—Professor Max Muller, M.A., Taylor Ir-
stitution, Oxford.

Mathematics.—Mr. A. Cayley, M.A., Trinity Col-
lege, Cambridge ; Mr. G. G. Stokes, professor of mathe-
matics, Cambridge.
Natural Science.— Mr. G. J. Allman, M.D., professor
of botany, Trinity College, Dublin ; Mr. G. D. Liveing,
M.A., lecturer on natural science, St. John's College,
Cambridge.
Moral Science.—The Rev. J. M'Cosh, LL.D., pro-
fessor of logic, Queen's College, Belfast ; Mr. Alexander
Grant, M.A., Oriel College, Oxford.
Arabic.—Colonel J. W. Ouseley, professor of Arabic,
Ilailey bury: •
Sanscrit.—Mr. Monier Williams, M.A., professor of
Sanscrit, Haileybnry.
The examination will olose on Saturday, the 28th
instant,