The Sun.
London, England, 1864-06-21 00:00:00

PERNAIvI bUCO.

The adjourned half•yearly meeting of this company was
held yesterday at the London Tavern, Mr B. Benson in the
chair.

The Secretary having read the notice of adjournment,
and also of an extraordinary meeting to be held immedi-
ately afterwards,
The CHAIRMAN said the half-yearly meeting had been
adjourned to that day in the hope that something definite
in the meantime might Le received from the Government
respecting the guarantee, but nothing had been received
from the Government in respect of the extension of the
guarantee. There had been two mails from Brazil since the
half-yearly meeting was held, and they had been informed
by their agent that the finance committee of the Chambers,
to whom the matter had been referred, had reported in
favour of the extension of the guarantee to the company,
and the question was now before the Chambers for their
sanction. He had therefore nothing further to communicate
about the extension of the guarantee, and he would proceed
with the extraordinary meeting, which had been convened
for the purpose of confirming certain alterations in the deed
of settlement which had been agreed to at the last meeting.
Ile then moved a formal resolution confirming the altera-
tions in the 02d clause of the deed of settlement from the
Ist of February and the Ist of August of each year, to the
30th of June and the 31st of December in each year, as the
dates in future for making up the accounts.
The motion was seconded.
The CHAIRMAN, in reply to aiinestion, said they could
not pay any more interest until they got the money from
the Government, or until the Government gave them the
increased guarantee. The capital account was now closed,
and the directors could not pay the shareholders more than
they received.
Mr GoEs wished to know whether the guarantee was to
be extended in proportion to the increased outlay. He sup-
posed that the alteration of the dates for making up the ac-
counts and holding the future meetings of the company was
to enable the directors, before holding the meetings, to as-
certain the dividend due to the shareholders after paying
expenses, and to declare it accordingly.
The CHAIRMAN said that no amount had been finally
fixed, but the Government had agreed to recommend to the
Chambers that the guarantee should be extended to £85,000
a year. The matter had been investigated by four Govern-
ment officers, and the Minister had agreed to lay that
amount before the Chambers for its sanction. The Chem-
bars might reject the proposition or approve it, but the
Session would not close until the 7th Sept. next. The
alteration of the dates was, as the hon. proprietor supposed,
for the convenience of the company.
The resoluion was then unanimously adopted.
On the motion of the CHAIRMAN, seconded by Mr. Golta,
a formal resolution confirming the repeal of the 38th clause
of the deed of settlement and authorising the ordinary
general meetings of the company to be held in future in
the months of April and October of each year was unani-
mously adopted.
In reply to a question, it was stated that one reason for
the dividend on the last occalion being only 2} per cent.
was that the working expenses had exceeded the receipts,
but this was not likely to occur again.
The proceedings concluded with a vote of thanks to the
chairman and directors.

A HINT TO VOLUNTEERS WHO ARE BENT UPON
GOING to COURT.—As there continues to be a belief that
gentlemen have a right to be presented at levees in virtue
of their being volunteer officers, we may state positively,
and from the best source of information, that no such right
exists. Volunteer officers roust be eligible for presentation
for other reasons than their volunteer rank. The matter
was decided in the spring of 1860,—Court Journal.

SPIIUT OF THE PUBLIC JOURNALS

TIMES.—In the great crisis at which the country
has now arrived it is natural that the leaders of the
Opposition should seek to learn the authenticity of
every rumour that has reached them; it is equally
natural that Ministers, who know how warily they
must take every step, Should shrink from utter-
ing a word which may interfere with the irre-
vocable decisions any day may require of them.
These considerations explain the little debate on the
Conference in the House of Commons yesterday,
which showed the Coneervative leadere more than
usually peremptory, and their Ministerial oppottents
quite as evasive es, usual. The truth is that every
one who cares to inquire can learn the main inci-
dents which have marked the last few sittings of the
Conference, and the Premier Wile unwilling to enter
into details which could hardly be at:panted from
an explaeation of the future designs and policy of
the Government. We can well admit that it is
the duty of an Opposition, when such rumours
are abroad, to endeavour to obtain for the country
the most complete and truthful information possible;
but all that is necessary to be known had already
been given to the world in the statement that at the
last meeting of the Conference, on Saturday, the
British Government, in accordance with the resolu-
tion come to at the Congress of Paris in 1856, pro-
posed to refer the disputed boundary between the
two German Powers and Denmark to the decision
of a friendly arbitrator. It is difficult to conceive a
case in which this principle of arbitration might be
more fitly applied. As a general rule we have little
faith in it. Where there is a clear, definite issue
between the two parties—something that both can
understand and do perfectlyunderstand—something
that touches national honour or national existence—
it is of little use to send the matter before an arbitra-
tor. To think of referringsuch a question as theunion
between England and Ireland, or the right of the
Federals to invade the Confederates is plainly
absurd. The parties would never commit their
dearest interests to the judgment of any man or
Cabinet; and if they could be brought to consent,
it is certain that the party decided against would be
irresistibly tempted to repudiate the award. But
in this case there is no similar difficulty. It is just
such a question as may be examined by a competent
authority and fairly solved. It is one of detail, and
nothing more. It has been agreed on both sides
that the principles which should guide the decision
are the prevalence of the Danish or the German
population in such and such districts of the Duchy,
and the securing of a convenient frontier between
the Germanic Confederation and what would then
become Denmark Proper. There is nothing in
dispute but the nationality and language of certain
districts, which can be easily ascertained by inquiry,
and the districts then partitioned accordingly. A
frontier line capable of serving as a barrier as well
ss a limit between the two countries may also be
drawn by any Sovereign or statesman who makes
himself acquainted with the country. All that is
to be dents is to decide how a debatable zone of
thirty miles in width, inhabited by a mixed popu-
lation, shall be disposed of. That any Govern-
ment should prefer the chance of war to the
judgment of an impartial arbitrator on such a
question is hardly to be believed. If, however,
that should appear to be the case—if Prussia and
Austria, which were actually parties at Paris to the
enunciation of the principle, reject it on the first
occasion that it can be advantageously applied—it
will indeed appear that violence and ambition not
only bear down the defences of weak States, but re-
pudiate the humane conclusions at which the great
Powers have arrived with regard to the government
of Europe. It is said that the proposal of arbitra-
tion was referred by the respective Plenipotentiaries
to their own Governments, and that to-morrow they
will annonnce their decision. Tomorrow, then, we
are likely to know whether this last chance of peace
between the contending p -rties is to prove fortunate.
The matter rests principally with Prussia, for it is
not likely that Austria, if left alone, will refuse any
fair proposition for concluding a war in which she
has no direct interest, and the continuance of which
exposes her to the gravest dangers. It would be
pleasant for us if we could express a confident ex-
pectation that the German Powers would show
themselves wise and moderate at the eleventh hour;
but the past behaviour and present temper, of the
Prussian people do not encourage a belief that they
will yield. There is, it is said, a violent war fever at
Berlin, an exultation which is caused by the
conquest of Duppel, and which makes those sub-
ject to it look upon their officers as pre-eminent
in skill, their soldiers as models of spirit and
courage. While, then, earnestly desiring
that better counsels may prevail at Berlin
that some memories of international justice and of
his own declarations to England six months since
may induce M. von Bismark to refrain from the
schemes which he has adopted from Bavaria and
Saxony, it is-we think time that this country should
make up its mind what its course must be if all its
overtures are rejected, all its advice despised, and
the unhappy people in whose behalf it has acted still
remain the victims of German violence and ambi-
tion. To-morrow the Conference meets—it may be
for the last time. Oa Monday next, if in the mean-
time no ft clogs of humanity or prudence prevail,
the war will begin again. On that day, assuredly,
new extortions will be made in Jutland, new prepa-
rations will probably be made for carrying the war
into the Islands, and no doubt the first political act
of the Allies will beto declare the whole of Schleswig
and Holstein permanently severed from the Danish
Kingdom and erected into an independent sove-
reignty by right of conquest. Together with these
wrongs to Denmark,there will be a demonstration of
defiance and derision towards ourselves. All the
patience and courtesy of the last half-year will be
ascribed to weakness. The speeches of our states•
men, the cheers of our House of Commons, the
articles in our newspapers, the manifest sympathy
with Denmark evinced by all classes of society
will be taken to show that we are earnestly bent
on something which the vigour and boldness of the
German rulers prevented us from attaining. Nor
can we be surprised that foreigners should take such
a view when Englishmen can hardly refrain from it
themselves. The humiliation and the consciousness
of failure which afflict the public mind are the mea-
sure of the exultation of those whose policy has pre-
vailed so comp!etelyover our own. No onewho knows
whet has passed can fail to see that if this country
allows the Danish war to begin again, and to be
carved to such an end as the German allies propose,
not only a grievous wrong will have been perpe-
treted in Europe, but ,he just influence of England
—an influence always of late years used in defence
of freedom and national independence—will be
seriously impaired. It is evident from the language,
and still more from the reticence, of Ministers that
they deeply feel the importance of the present crisis,
and are convinced that they can retain power only
by upholding the dignity of the country. What
their first acts may be we cannot presume to pre-
dict. But this is plain—that since England in her
capacity as a first-class State and a party to the
Treaty of 1852 entered into these transactions, and
was recognised by the belligerents as having claims
and interests of her own, we have now a right to
demand the forbearance of the two German Powers.
Whether it be prudent or not to interfere at once,
whether Schleswig, or a part of it, could be deli-
-sered by British aid, are political or military ques-
tions which will require anxious consideration. In
the meantime we think that a suspension of diplo
matte relations should be the immediate result o:

the rejection of our last proposition for peace, There
can be no benefit in being represented at Courts
which have treated England with such contumely.
When this step is taken the Government will be
able to determine in what way material effect may
bo best given to the protest on which they may
have resolved.

HERALD.—The House of Commons witnessed a
scene last night for which even the most indefati-
gable searcher into parliamentary history can find
no precedent. The members of the house had heard
from different sources accounts which, although not
official, were apparently authentic, of the proceed-
ings of the Conference on Saturday. They bad
been informed that at that meeting the belligerents
maintained pretensions which were utterly irrec.on
cileable; that the English Government, aband.otnsig
again a position upon which it had professed
whichi
re-
solve to take its stand, had made a proposaltu
gh no-
minallywas virtually rejected by all
that
t in the most
represen-
tatives of the German Powers indulged
accepted ad referendum;' ties,
and England,
unseemly threats against Denmarkatihteo-and even announced their intention, in the event of
the resumption of the war, to issue letters of marque
in defiance of the engagement not to do so which
they made eight years ago at Paris. The members
flocked to the house to ascertain from the responsi
ble Ministers of the Crown whether these grave an-
nouncements were correct. The leader of the Op-
position rose at the time which the custom of the
house has consecrated to such inquiries, to ask
whether the Prussian Minister had made the
threat attributed to him, and whether hostilities
would recommence on the 26th, in the event of
the Conference breaking up on Wednesday. He
put his question without any comment; be made
no effort to " exploit" the painful situation
against the Ministry ; he gave them an opportunity
of which men conscious of the rectitude of their
conduct and resolved upon their policy would
have gladly availed themselves. But the 'Ministry
were determined not to give any information, and
they thought that the best way to refuse it was to
keep the Premier out of the house, and pretend
that nobody else could answer a question upon
such an important subject. The Premier, there-
fore, was kept out of the house, but in its neigh-
bourhood, so that if the "dodge" should not answer
he could come to the assistance of colleagues who

are perfectly helpless when they have to deal with
a house, of Commons in a state of agitation. 3,lre
Gladstone rose toseeggest that as Mr. Disraell'e
questions were of consideteele importance he should.
put them on the paper for to-day. Mr. Disraeli.
replied, amidst the cheers of the home, that he eve 4
justified under the circumstances in asking
,them'
without notice. Then Mr. Bernal Osborne Wee'
vened. That gentleman, in his zeal for his German
clients, had been alarmed by the unmeaning re-
mark of Earl Russell that the fleet was fully pre-
pared for any services it might be called upon to
render. He wanted to know whether those wo,rdee
were only another idle threat, or whether the toe,
vernment intended to commit the country to a war
with Germany. The Chancellor of the Exchequer
was unable to offer any explanation. He would not
presume to answer such a question. Indeed, he
hinted that he knew nothing about the matter,
Mr. Seymour Fitzgerald observed that Mr. Glad:
stone, ac a member of the Cabinet, must know wbee'
had taken place on Saturday; and Lord John
Manners said that if only one member of the Go'
vernment was competent to reply to Bach ques-
tions he ought to have been present. The ire'''
sury Bench had by that time become alarined,
The Premier was sent for, and by one
of those
singular coincidences in the fortuitousness of which
children and old women believe, entered the house
just as Lord John Manners declared, amidst
general cheers, that he ought to have been there.
The Premier, however, was equal to the oeeam
siou ; it had been arranged that no information
i
should be given, and he took care to give non 0,
He explained, for Mr. Osborne's edification, the
significance of Lord Russell's; words in words almo,"
identical with those employed by Earl Russell
it —41,1?
fleet will
quite equal to anything the Government
ask to do—and he declined, although
regret,. to answer Mr. Disraeli's questions. Dero
was, it seems, an agreement made—kept we need.,
net say with great strictness by all artier
what passed in Conference should not be Mau!.
public, and it would therefore be a breach of cee"
dence on his part to say what took place in it on
Saturday. But he was considerate enough to sq.
that, as the suspension of hostilities expires on Su
n
day next, if it is not prolonged before that Mee'
war will recommence on Monday—a piece of infor-
mation with great
melon which it seems he reconciled it with his duty
to the Conference to give, and for which the House
of Commons must have been devoutly thanktu"
Such is the fashion in which the Government ven:
tures to treat the House of Commons. Althouge
the issues of peace or war are now hanging is the
balance, and in a few days the country may be
committed to a course which may disgrace AL
degrade it, or involve it in a gigantic struggle, 41°,,
Ministry refuse to give its representatives !ll'
slightestinformation, or afford the faintest indication
of their 'nteutions. When the mischief is done,
.when the policy of the country is irrevocably deter-
mined, the suprort of the House of Commons 1214/
be invited. Treatment like this might be brooked
by the house if it could believe that the MinistrYd
had really determined upon a course of policy, o.l'h
were unitedly seeking the vindication of Erigl"
h.
honour and interests; but when it is known, when
it is matter of as public notoriety as the Pro-
ceedings of the Conference, that the Cabinet
divided, and that one section is anxious for Pec:
at any price, whilst another, with a
goring sentiment of honour, would prefer
even war to a disgraceful peace—this refusal 01 all
information is intolerable. The Ministry treat the
,
tarns, and
of Commons as if it had abdicated its fee%
and the House of Commons, by its apathy, bee
countenanced the impertinent assumption. But
temper of the house and the country may be tried too,_
much, and the scene of yesterday will be a lesson di!
the Premier, if he has riot lost the tact and shrew id
ness which once distinguished him. If be woe
not have an ignominious termination to a career
.
which, with all its great faults, has been most sue,
cessful and most popular, he must deal frank y with
Parliament, and not only deal with it frankly,
'
adapt his policy to the spirit which animates it fle
the country. The war between Denmark and Ger-
many will break out again on Monday, unless the
English Government gives the German powers
plainly to understand that in that war they seroue:
have to contend with England. Let Austria an
a
Prussia understand that, and they will be glad to
take that part of Schleswig which Denmark is dis-
posed to yield.