The Sun.
London, England, 1854-05-04 00:00:00

LONDON, THURSDAY, MAY 4, 1854.

Reports are rife that one, at least, of the Admi-
rals commanding our Fleets has asked for gun
vessels of light draught of water, and the opera-
tions at Woolwich and Portsmouth yards seem to
corroborate these reports ; for, under the head of
" naval news," may- daily be seen how old steam
tugs, and vessels of the "Pigmy" class, are being
mounted with one long gun forward. We have,
being patriotically induced thereto, made inquiries,
and we believe we shall not be contradicted when
we say, that, with the single exception of the
Minx, an iron-built craft, which we should
not like to be on board of if she fired
a heavy gun at all, she appears so exceed-
ingly light built, there is not on of these vessels
that, when complete for sea, will not draw over
10 feet of water. This draught of water varies
but little from that of a much larger class of
paddle-wheel steamer, carrying 8 or 10-inch guns.
We do not know the scantling of these "Pigmys"
and " Cuckoos," but we do know the very fastest
of them is what in these times would be called
very slow coaches. The Surveyor of the Navy
has, of course, satisfied himself as to their strength,
and we most sincerely hope that they will be found
to answer theirpurpose, and to do ournation justice.
But why have we not built some such vessels as
we remember having written about four years
ago—vessels that were built for the Government
of Prussia, by private builders ? Why have we
not even built similar vessels to the "Pruth,"
which was, with others, built upon the same prin-
ciples, although not so heavily armed, and for the
CZAR, by Messrs. LAIRD, of Liverpool ? We
remember it was recorded that the former
vessels, called Nix and Salamander, with guns
of the heaviest armament, drew only five feet of
water, and actually steamed over 15 miles at the
measured mile !! ! The papers have teemed with
the performances of the Pruth, in the Black Sea
and the Danube, where, with 25 other gun-vessels
all heavily armed, she is reported to have done great
damage to the Turk. We remember the Prus-
sian vessels mounted eight guns, that four of
them were 68's, and four of them 32's, all long,
and that on starting with coal on board for ten
days, and all stores, they only drew seven feet,
while with fuel fora long clay, and all armament
and stores, they only drew -fiv'e feet. What can
these PigmYs" be
theirexpected to do against such
t.ssels as these, with
one long gun and
seven or eight miles speed ?
How many of this
class of vessels the Russians have—how many
built by themselves, remains to be seen ; but
some of our journals have gone as far as 800 in
naming the gun boats at Crotu3tadt
Aga, Revel,
&c., &c.

We hope our remarks will lead to
somewhere. We point
are sure our inquiry
s -will all be
corroborated upon such inquiry, and we ask, What
can our army do if they gain one Mouth and
one
bank of the Danube if they are not aided by
Flotilla cf Gun Vessels—superior, or at least
equal, to that which is in possession of the enemy
on the other hank ? The Pruth, with her speed
and armament, would destroy a host of man-of-
war launches, and reach them too, with their
exposed CROWS in the shoallest water.

Mr. GLADSIONZ has again " missed his tip I
These repeated and humiliating failures of " the
(cleverest chap of the troupe" must be very gal-
ling to his fellow Acrobats, who participate in the
Goosing," so liberally bestowed on the unlucky
and unskilful financier. Whether he will follow
the Example of poor SISSY June father, and
abscond from the motley crew with whom he was
associated, is as yet doubtful. • But should he do
:taking, with him the " many legs" of Cannon
Row—the Great, Xncli4,4er--eveienture to
usert that the 111110bl:1'4U itto4s, iiitOnsollibre;

but, like the young and wealthy widow of an
octogenarian, would bear its loss with " Christian

fort itude, and pious reignation." The poor de-
serted Grandmamma—the highly respectable old
lad y who is the nominal head of the Ministry—
mi ght shed a few maudlin tears at the desertion ;
but the venerable dame would be the sole
mourner, and the dear departed would speedily
be forgotten, save from the heavy price which
must be paid for his abortive experiments and
'blundering projects.
Mr. GLA.DSTONE has not thus decisively failed
without due warning. He was distinctly and
unequivocally cautioned as to the consequences of
the palpable mistake .he was committing—the
grievous error into which he suffered himself to
fail. A week since we indicated the cause that
would prevent him from attaining his object, and
it is almost unnecessary to say how fully and
completely our predictions have been verified.
In truth, the measure was of a hybrid character.
It was neither one thing nor the other. Not
suited to the moneyocracy, because it ad-
mitted the community into competition with
1 those who had already been the exclusively
1 favoured class ; not suited to the people, because
certain regulations were framed which effectually
prohibited their taking advantage of the quasi
boon. The Bank Directors recollected the threats
fulminated against themselves—the significant
hints as to the propriety of setting their house in
order preparatory to the abolition of their exclu-
sive privileges. The large capitalists saw that
their craft was endangered—that if the experi-
ment succeeded and passed into a precedent, they
might bid farewell to premiums and other finan-
cial sops. Both parties agreed that a sound
" snubbing" would be very useful to the inex-
perienced tyro who,
" Infelix puer, atque ?rapar congressus A chilli,"

having entered in au unequal contest, should
receive the coup de grace in the most summary
form. On the other baud, it was just as clearly
perceived that the supposed " popularisation," of
the loan was little better than a specious pretext,
calculated merely to stimulate the biddings of those
with whom he really intended to deal. Had it
been otherwise—were he, indeed, desirous of
" sinking his shaft to a lower seam"—did he
truly " aim at a draw on the smaller accumula-
tions of the productive classes," he would not
have rejected so contemptuously " all tenders
for less than 1,0001. ;" he would not have kept
his terms doubtful in the hope of seducing some
ignorant or badly-informed persons into offering
a trifle more than the actual value. Nor would
he have announced that the " bidding was under-
stood to he in Exchequer Bills at par"—a matter
really of the most trivial consequence, as the only
penalty was is. for every 1001. paid in money,
but still calculated to deter the general public who
had not Exchequer Bills by them from offering
their mites. The different tenders required for
each series of bonds constituted another formidable
obstacle in his way ; and the large amounts for
which the bonds were to be issued-1001., 2001.,
5001., and 1,0001. made the difficulty in-
superable.

The result may be briefly stated. We take it
from the GLADSTONE organ, which would natu-
rally place the matter in the most favour-
able light for its protegee. The Times de-
clares that " the precise amount of tenders that
had been accepted has not been stated, but it
was known to be moderate even for the first series,
while for the two remaining series of 2,000,0001.
each, maturing respectively in five and six years,
it was very small I" We believe that the descrip-
tion might be amended by stating that, for the
first series, it was very small, for the others nil.
However, even the statement of the Leviathan
proves that the project was another decisive and
unequivocal failure, without the slightest matter
to break the fall or alleviate the annoyance of the
disappointed Minister. "We told you so," is
but a sorry consolation for one who is suffering
the painful consequences of his own folly and
imprudence ; but we may still venture to remind
the Chancellor of the Exchequer that, on this day
week, after recapitulating some of the most obvious
impediments to a successful result, we said,
"Let Mr. GLADSTONE look to these matters, and
correct them while there is yet time, if he would
not incur the disgrace of another financial abor-
tion." He disregarded the wholesome advice, and
now he must bear the consequences of his own in-
capacity and reckless audacity.
Now, it appears that he has fixed his price at
981. 155., as he ought to have done in the first
instance for the first series of Bonds, and that lie
will receive tenders at that rate until Monday
next. It is most probable that the full amount
will be taken, for the interest is decidedly high for
Government Securities, being equivalent to 4/. 3s.
10d. per annum for the four years. This will
easily be seen from the following short calcula-
tion. Thera is first the discount of 11 per cent.
The bonds being issued at 981. Is. sd. ;
then the bonus from the interest commencing at
once, while the subscriptions were received by in-
stalments, spread over five months, to 15s. 2d. ;
and then the second bonus, that those who desired
to pay the instalment at once " would be allowed
to receive interest at the rate of 31. 103. per
annum from tho date of payment up to the re-
spective days on which the instalinent was pay-
able to 15s. 2d. more, being altogether 21. 15s. 4d.
premium, which, divided among the five years,
Igives 13s. 10d. in each year, in addition to the
31. 10s., nominal interest, or really 41. 3s. 10d.
11
per annum.

We cannot suppose that such tempting terms
will be slighted ; but, if it be possible to make a
mull of the transaction, Mr. GLADSTONE is, Un-
doubtedly, the man to do so !

For several weeks past public attention has
been called to a novel process whereby it is alleged
an increased quantity of equally wholesome and
nutritive bread is produced from a given weight
of flour. To judge from the newspaper reports of
the experiments made in public, they appear to
have been completely successful. The process in
question is, however, by no means a recent disco-
very. It dates from the winter of 1846-47. In
consequence of the deficient harvest of 1846, and
the consequent high price of bread, Mons. CHARLES
D'AZENE, member of several scientific societies in
Paris, devoted himself to the investigation of the
ordinary process of bread-making, and speedily
found it to be wasteful. Persevering in his ex-
periments, he at length discovered the process
which now attracts public attention.
Notwithstanding the great importance of this
discovery, M. D'AZENE was unable to turn it to
any lucrative account in France. It was not sus-
ceptible of protection by patent, as its extreme
simplicity would enable every 'one to infringe
the patent with impunity. In . the course
of last year Monsieur D'AZENE, however, suc-
ceeded in selling his secret to a mercantile
firm in London, which paid him the stipulated
price, not in money, bat in its acceptances,
ranging from three to fifteen months. Shortly
after the first acceptance became due and had
been dishonoured the firm failed ; the principal
partner passed through the Insolvent Court, and
all the bills held by M. D'Az&NTE became worthless.
That gentleman bad unfortunately negotiated two
of the above acceptances (believing the house to
which he had sold his invention to be solvent),
and. M consequence of their non-payment he was
summarily arrested upon a "ne exeat regno" writ,
and imprisoned in the Queen's Bench, at the in-
stance of a commission agent, who had introduced
M. D'AzkINE to the above firm, and received one
of the acceptances, bearing M. D'Azrzm's indorse-
ment., in payment of his commission or fee for the
introduction.
i,Azz
ductionis...;
considering that he has been very
ill used, and that no one is either legally or equit-
ably entitled to appropriate to himself the merit
and profit of his invention, has offered to the Guar-
dians of the Marylebone Workhouse (where the
process has been lately tested) to explain the whole
process to them, and to perform the experiment in
their presence, without any concealment of either
the ingredients or method employed ; and if his
offer is accepted, he is quite willing to leave the
question of remuneration to their liberality.
Since he communicated his, secrelto tlact above
ae a ylSH"iiitZrtant 4iii‘m,-,...z,LArz Las .