The Sun.
London, England, 1853-08-18 00:00:00

RAILWAY TRAFFIC RETURNS.

MIDLAND.
The directors of this company have just issued their
half-yearly statement of receipts and expenditure. The
capital account shows that the total outlay to the 30th of
June last amounted to 18,353,2411., including 214,9531.
expended during the half-year. The estimated liabilities
and further outlay amount to 106,5231., making the total
probable outlay 18,459,765/. The amount authorised to
be raised by act of Parliament on shares is 15,456,4731.,
and by debentures 4,403,685/., together 19,860,1581.
The estimated surplus capital amounts to 1,400,3931.
The receipts on shares amounted to 14,424,7561., and on
debentures to 3,751,2611., total 18,198,7671. ; and the
expenditure, 18,353,241., leaving a balance against the
company of 151,474/. The debenture account shows that
3,751,261/. had been borrowed, of which 534,890/.
300/ was
borrowed at 5 per cent., 458,089/. at 41 per cent., 56,.
at 4+ per cent., 915,2471. at 4 per cet., 281,635/. at 3i
per cent., 1,294,1981. at 3, per cent. n,
92,220/. at 34: per
cent., and 118,650/. at 3 per cent. The loan notes ac-
count shows that 5001. was borrowed at 5 per cent., and
22,2501. at 41 per cent. The renewal of permanent
way account shows that 18,339/. had been expended
during the half-year, and that 10,000/. was set aside
from revenue towards it. A balance is shown against
the account of 22,06 G/. The rolling stock account
shows that 106,6291., has been added to it during the
purchase of rolling stock
half-year, including 34,789/.
from the North-Western, making the total outlay on the
stock 1,940,216/. The total number of miles worked by
the company is 577, and the average cost of rolling stock
3,363/. per mile.
The revenue account for the half-year ending the 30th
of June last shows that 677,101. had been received,l4.

THE GREAT NORTHERN RAlLWAY.—Traffic return for
the week ending Aug. 7, 1853 £18,341 6 10
Corresponding week last year 13,600 1 6
LANCASHIRE AND YORKSHIRE RAlLWAY.—Traffic re-
turn for the week ending Aug. 14, 1853 £21,461 4 0
Corresponding week last year 20,215 0 7
CORK AND BANDON RAlLWAY.—Traffic return for the
week ending Aug. 13, 1853 £216 6 6
Corresponding week last year 192 15 10

THE NEW YORK EXHIBITION.

NEW YORK, AUGUST 2.
The New York newspapers all devote a large space
every day to the Crystal Palace, but not a single analy-
tical article has yet been written on the Exhibition, nor
can much be said that would be, of service to your readers
until the exposition' approablies a far greater degree of
completeness. The directors are every day discovering
their mistaluvi,•sadommendable diligence and can-
dour are trying to'borrect them. The arrivals front
Europe still continue, and, as fast as space is required,
objects of no excellence, art, or interest, are to give room
for better things. The management wisely reserved to
itself the right to remove any articles after their admis-
sion whenever they should require the space. In this
manner, objects which had no claim to attention will be
set aside and when this winnowing process is complete
the Exhibition may be worthy of the inspection of men
of science and learning. Strange as it may seem, the
American department is likely to be the last to fill up.
A vast number of curious and valuable home inventions
were refused admission in the beginning, chiefly, it was
alleged, for lack of room. But the directors have learnt
by experience that Transatlantic agriculturists, manu-
facturers, inventors, and men of science attached far
greater importance to that class of inventions, and pro-
ducts than to almost everything else, since it was in that
department mainly that they anticipated the elements
of successful competition with European• energy, ex-
perience, and skill. I was a day or two ago informed
by a very intelligent English gentleman, that he had al-
ready seen more labour-saving machines and inventions
of American origin outside the Palace (all the fruits of
the last two years) than he had supposed could be pro-
duced by the combined genius of the world in a quarter
of a century.
So far as the chief contributions of European nations
go, we shall have few objects of interest which were not
exhibited in London. Indeed, upon a very large num-
ber of these cases we see the announcement that to the
proprietor the medal had been awarded, and, in many
instances, the medal itself forms a part of the display.
So far our Exhibition is but a repetition of yours of '5l.
There might naturally be expected an extensive and
bulky display of uninteresting objects from most coun-
tries, but nobody could have calculated with much pre-
cision the deluge of second and third rate works of art
from all quarters. What the gallery of art when com-
plete may show we can hardly yet say ; but not five
pictures or sculptures yet exposed are above mediocrity.
Scarcely five European artists of established fame have
sent anything, and they who have contributed have, for
the most part, sent feeble copies, and generally of their
minor works. But they may congratulate themselves
upon a successful riddance of their rubbish ; for in this
ease, as in all parallel ones, the rich New Yorkers are
glad enough to buy whatever bears the prestige of Euro-
pean celebrity. Our own artists of true genius, and the
modesty which always attends it, have, for the most
part, declined auy competition in this "Babel of fine
art ;" and yet it is well known that we have men who
have won golden opinions with the pencil, the graver,
and the chisel from the schools and connoisseurs of
Europe.
So far the speculation has not paid. The receipts
have hardly averaged 3001. per day --a sum barely suffi-
cient to cover daily expenses. The interest generally
felt in this country is declining ; and I presume the
number of visitors never will equal the expectations of
the projectors of the Exhibition. But some results will
come out of the enterprise, the importance of which can
be measured by no narrow standard ;-
1. Europeans whose arts, manufactures, and indus-
tries are wholly, or in part, sustained by our markets,
will, by their personal observations and direct inter-
course with our people, derive great advantages from
this Exhibition. They will carry away with them all
the new ideas America has elaborated in machinery and
mechanism, and they will find shortly a very full expo-
sition of these results in the American depot of the Crys-
tal Palace. They will learn definitively what we are
doing and are likely to do in which they cannot expect
to offer any profitable rivalry. They will thus,
.by keen
and intelligent foresight, modify their business plans for
a considerable time to come. They will also make ex-
tensive and more ;advantageous arrangements for the
disposal of their products in our markets, without the
intervention of multiplied agencies, all of which increase
expense and embarrass commercial transactions. They
will also, in the Crystal Palace, where they are
in almost constant attendance, have an excellent
school for learning American tastes what our peo-
-1 ple like, and what is likely to suit them best. Al-
-1 ready the great houses of Europe adapt fashions
and styles to our markets, with special reference to the
prevailing tastes of the country. But they will be able
hereafter to do this more effectually. Besides, by
making new acquaintances, and learning more about
their former agents and correspondents, they will put
their American business on a more advantageous footing
in all respects.
2. It is equally evident that Americans of all classes
will be made more familiar with the arts and industries
of other nations. Every day groups of serious, hard-
thinking, and often hard-working men are seen carefully
inspecting everything in the Exhibition which marks
the progress of Europe in the arts of design and utility.
It is reasonable to suppose that so acute and astute a
people as the Americans are known to be will not allow
such an opportunity to pass without reaping from it the
very highest advantages.
3. A vast impulse is likely to be given by this Exhi-
bition to the cause of the freedom of commerce. I
hear much said on this subject, and the British Com-
missioners have not been a little surprised to perceive
how rapidly the American mind is approaching the
conviction that absolute freedom of commercial in-
tercourse forms the life of trade, multiplies the gua-
rantees of peace between nations, and diffuses liberal
and enlightened sentiments and opinions through-
out the world. On this subject I shall dwell here-
after, for I am disposed to think that this Exhibi-
tion will prove to our country a very high and bene-
ficent agency for changing and perfecting our financial
policy. It takes place, too, at an auspicious period.
We are at peace with all the world ; our tariff of 1846,
which our most celebrated statesmen predicted would
mark the decline of our foreign commerce, and begin the
most serious embarrassments to our treasury, has mul-
tiplied our commercial transactions with every country,
given us a profitable balance of exchange with many,
filled the national treasury (we now Dave 23,000,000
surplus on hand), and worked good, and only good, and
that continually. The other day a leading Whig news-
paper gave us an estimate of the amount of iron this
country would require merely for the completion of our
railways, making the quantity vastly larger than Great
Britain and our own furnaces and forges could supply ;
and then the editor, after speaking of the high prices
iron must long command, asks, "Can we ask any longer
duties on iron / "
The summer months witness nearly all our scientific
and literary conventions, and the commencements of all
our universities, colleges, and public: schools. From
their proceedings generally, thus far, it is clearly ob-
servable that the standard of American scholarship is
rapidly rising, while the number of scholars who are
passing through a regular and thorough curriculum is
increasing beyond a parallel.
The only political excitement now grows out of the
organisation of an opposition to General Pierce's Ad-
ministration. This opposition promises to be quite for-
midable. Many of the ablest Democrats in the Con-
gress, which is to assemble next December, openly pro-
claim their hostility to General Pierce. His Adminis-
tration has, thus far, disappointed all parties ; he has
given satisfaction to no section, faction, or interest, and
he finds himself without friends and without support.
No President has ever lost his popularity so soon after
his inauguration, and nobody supposes that he can reco-
ver his ground without a choice of new Ministers
and the establishment of a policy which will be under-
stood and approved by the mass of the nation, unless,
indeed, he is saved by some unforeseen event which
oprogressro rt
is to
save will bring new issues between parties at home, or a
danger
is, with a foreign country. The chief
beingt
h madehi s
is, that be may embroil us in a quarrel with 111ex.tco,
sinkingors i
fortunes.
on e other State, i
as a
n last es
Little
in the negotiation of any of those questions
countries which have given uneasiness to the with foreign
mind. All progress was arrested on the 4th public
because the whole diplomatic corps knew of March,
recalled, and few, if any, of their acts approved.they would be
their successors have not yet left for But
everything is at a dead stand. It is to be
posts, and
o
evil may grow out of this utiprecedli td hoped that no
but it is most deeply to be regretted that General Pierce,
i state of things ;
who went into the Presidential office
fair, should have turned out to be so weak, irresolute,
under auspices so
and vacillating aw s an. What his policy will he nobody
cau tell.--Times Correspondent,