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

STRAND THEATRE.

Sole Lessee Mr. F. W. Alicroft.—Directress, Mlss Rebecca Isaacs.
THIS EVENING, MAT 4.
THE THREE TURFCI4II RAZOR GRINDERS.
To be followed by PAUL PRY.
After which. SUMMER FLO ATER% in which the French Ballet
Troupe will appear.
To conclude with PIGEONWIDDY'S PERILS.
qtalls, 55.; Boxes, 35.; Pit, le. 6d; Gallery, M.; Private Boxes,
41 lis. 6d., to be bad of Mr. Allcroft. lb. New Bond-street.

ASTLEY'S EUROPE'S NATIONAL AMP HITHEATRE.
Lessee and Manager, Mr. William Cooke.
THIS EVENING, MAT 4,
Will be presented the new grand Nautical and Equestrian spec-
tacle, embodying invel and extraordinary effects (written by Mr.
Nelson Lee), entitled A TALE OF THE SPANISH WAR; or,
The Horse of the Wreck. Thi horses expressly trained by Mr. W.
Cooke.
Followed by an entire change of the ScenCS of the CIRCLE. intro-
ducing Miss rate Cooke, Miss Emily Cooke, Mr. Alfred Cooke, Miss
and Master Gee, and the most talented Equestrian and Artistes in
Europe.
Mdlle. Blanche, the celebrated Continental Artiste, on the
TIGHT ROPE.
MR. BRIGGS IN HIS PLEASURES OF HORSE-KEEPING.
Box-office open from Eleven till Four. Stage Manager, Mr. W.
West.

HIGH WATER AT LONDON BRIDGE.
Teri DAY —Morning 0 min.after 6 Evening 25 min.aft. 6
Talloaaow—Morning 49 min.after 6 I Evening 19 min.aft. 7

THE WEATHER.—Sac Onus', MAY 4.
THERMOILITrEft, IN THE SHADS.
63 —highest since noon yesterday.
46--lowest this morning and during the night.
62—this day at noon.

BAROMETER, 29.68—rising.
WIND, W.S.W.—Light breeze, and very fine, sunshiny
weather.

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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 one 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," hut 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 their purpose, and to do our nation justice.
But why have we not built some such vessels as
we remember having written about four years
age--vessels that were built for the Government
of Prussia, by private buildeis 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
aanu heavily
Danube, where, with 25 other gun-vessels
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 startin,, with coal on board for ten
days, and all stores, the
while with fuel for drew seven feet,
a long day' and all armament
these " Pi
and stores, they only drew five feet. What can
gmys" be expected to
d
vessels as these, with theiragainst such
one long gun and
seven or eight miles speed ? How
of this
class of vessels the Russians havenleanhsyow many
built by themselves, remains to
be
aesenBo;
some of our journals have but
gone as
0
in
naming the gun boats at Cronstadt, Riga, Revel,
&c., &c.

We hope our remarks will lead to inquiry
somewhere. We are sure our points 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 a
cf Gun Vessels—superior, or at least
equal, to that which is in possession of the enemy
on the other bank ? The Pruth, with her speed
and armament, would destroy a host of man-of-
war launches, and reach them too, with their
evposed crews in the shoallest water.

34r. GLkDSTONE has again "missed his tip!"
These repeated and humiliating failures of ‘ the
cleverest chap of the troltpe" 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 JUPES' father, and
abscond from the motley crew with whom he was
associated, is as yet doubtful. But should he do
so, taking with him the " many legs" of Cannon
Row—the Great Indian Juggler—we venture to
assert that the natiort would not prove inconsolable;

but, like the young and wealthy widow of an
octogenarian, would bear its loss with "Christian
fortitude, and pious resignation." The poor de-
serted Grandmamma—the highly respectable old
lady who is the nominal head of the Ministry—
might 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 exßeriments and
blundering projects.
Mr. GLADSTONE 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
fall. 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-
s 'flitted the community into competition with
those who had already been the exclusively
I 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 :izi,par congressus Achilli,"
having entered in an unequal contest, should
receive the coup de grace in the most summary
form. On the other hand, 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 clas3es," 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 be 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-100/., 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 !" 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 he
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. There is first the discount of 11. per cent.
The bonds being issued at 981. 15s.=to ls. 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. 10s. per
annum from the date of payment up to the re-
spective days on which the instalment was pay-
able to 15s. 2d. more, being altogether 2/. 15s. 4d.
premium, which, divided among the five years,
gives 133. 10d. in each year, in addition to the
31. 10s., nominal interest, or really 41. 3s. 10d.
per annum.

We cannot suppose that such tempting terms
will be sighted ; 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, but 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'AzENE became worthless.
That gentleman had unfortunately negotiated two
of the above acceptances (believing the house to
which he had sold his invention ato be solvent),
and in 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 went, who had introduced
M. D'AIZENE to the above' firm, and received one
of the acceptances, bearing Al. D'AZENE'S indorse-
inent, in payment of his commission or fee for the
in trod uction

m. D'AZENE, considerin,? e
that 1 hasl been very
ill used, and that no one is' eitherlle,a
ably- untitled to appropriate to himselfl or equit-
ably
pifofit of his invention, has offered to the Guar-
dians of the Marylebone Workhouse- (where the
proces3 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 secret to the above
fire, M. D'A.ZENE has made a very important im-